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The 6 Things You Need to Know to be Great in Business – Mark Cuban

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There are no shortcuts in business. In order to be successful there are some things that you must know.

SEE ALSO: Success Story of Richard Branson

1. Know how to sell

Selling means being able to convey why your product or service, which may be you if you are looking for a job, will make things better. Selling is never about convincing. It is always about helping.

2. Put yourself in the shoes of your customer

If you know how to put the person you are dealing with in a position to succeed, you can be successful. In order to do this, you must be able to quickly understand the needs and demands of that person and those of the company(s) they work for or with. Every person and industry is different. This is something that comes from investing incredible amounts of time to understand different industries, businesses, roles, and what has made them work and not work.

It is a never ending process of learning about what companies need. What people in those companies need and how they work. If you don’t understand what it takes to make the people and companies you work with better, you don’t understand how to be successful.

3. Know as much as you can about technology

The beautiful thing about technology is that it changes every day. Look at any tech you can see today or have ever seen. Any tech you have read about. It was invented by someone(s). They know the product better than everyone. On the day that it is released, you are as knowledgeable about that technology as anyone else in the world. From there it’s just about effort to keep learning.

If you are one of the few people that know the new technologies, you are in a unique position to put yourself in the shoes of your customer(s) and determine if the new technology can be of benefit. New technologies enable change and where there is change there is opportunity. It’s up to you to figure out what that opportunity is.

4. Always ask how you would design a solution if no current solution existed

99.99 per cent of the things we do in business are being done the way they have always been done. No one has re imagined how things should be done. That is what successful people do. Every situation they are in they take their knowledge of the business or situation they are visiting, whether its buying a deck of playing cards, eating at a restaurant or trying to solve a problem and think about how to re invent it. They don’t ask people what they would want. They envision a complete reapplication. Then they decide what to do with what they just recreated.

5. Is it the path of least resistance to something better

Lots of people come up with ways of doing things that they think are great/amazing. What they fail to ask is whether it will make anyone else’s life better or easier. The simple test of any imagineering of a process or situation is simple. Is this the path of resistance to a better place for the user? Yes or No.

6. Be nice

People hate dealing with people who are jerks. It’s always easier to be nice than to be a jerk. Don’t be a jerk

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SEE ALSO:

12 Powerful Quotes From Billionaire Mark Cuban to Inspire You

28 Elon Musk Quotes That Show His Genius

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Want to Enjoy Business Success? Ensure Your Appearance is Up to Scratch!

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Photo by Hunters Race on Unsplash

“Never forget that you only have one opportunity to make a first impression – with investors, with customers, with PR, and with marketing,” said fashion entrepreneur and journalist Natalie Massenet, and statistics certainly back her assertion. As an entrepreneur, you have just seven seconds to express who you are and indeed, some studies indicate you have even less. Recently, Princeton scholars Janine Willis and Alexander Todorov conducted a series of tests, finding that it takes as little as one tenth of a second to for an impression of a stranger from their physical appearance. Moreover, longer exposures don’t necessarily alter this quick initial judgement.

Appearance is a Key Element of Your Brand

If you have invested in your logo, colors and website, remember that your physical appearance – and that of your office – should be viewed as an extension of your brand. Appearance covers everything from the suit you wear to a formal meeting, right through to the interior design of your meeting room or reception room. Acing this aspect of your branding strategy is a complex task because no two businesses are alike. Moreover, depending on the nature of your business, innovation or tradition may predominate. Getting your branding strategy right involves researching into industry expectations. Your competitor’s website and social media is a great place to start, but don’t be afraid to go a little ‘above and beyond’ what is expected.

Breaking New Ground

There are certain basics that all entrepreneurs and premises should obey. These include tidiness, cleanliness, and professionalism. If you work in fields like law or accountancy, a good suit is key when attending to clients or holding business meetings. However, if you work in an industry like media, aeronautics, or technology, your attire and business premises should be anything but traditional. Google, for instance, is famed for its passion for color, innovation, and collaborative spaces. NASA’s Jet Propulsion Laboratory, meanwhile, dazzles with its own onsite museum, coffee shops, and moving Mars rovers. Your office should be suitable to your employees’ uses but also appealing to your clients. Thus, luxury jewelry and haute horlogerie shops often contain cosy yet luxurious features like double glass fireplaces, dark cherry Chesterfield sofas, and Edwardian desks. The key is to exude tradition and modernity at once, since these values are key to these high-end sectors.

Expressing Yourself through Clothing

Regardless of whether or not business suits are a must in your day-to-day life, you shouldn’t be afraid to express your creativity. A dark navy business suit, for instance, can look über sleek and sexy when it is slim cut and paired with a good pair of brogues. Your necktie, pocket square, or glasses can show off a little more color than expected, as well as a different, contemporary design. Even a cool Hermès belt looks fantastic worn alongside a casual day suit.

Functionality and Practicality Should Weight on Your Decisions

You should always aim to impress, without sacrificing an iota of practicality. It was interesting to read news stories about Apple employees revolting against the glass-filled office design of the $5 billion Apple ‘Park’. The problem? Numerous employees were walking into the glass walls, making for more than one headache and bad mood. Similar criticism has been levelled at open plan offices, with recent research finding that they aren’t for everyone. Indeed, many employees who are forced to work in open-plan spaces claim that distraction and lack of privacy wrests from their efficiency and focus.

Your appearance (and that of your office) is key because it can make or break important connections with your clients. It is also key to building a sense of trustworthiness. The more professional you look, the more likely clients are to choose you over competitors. However, getting your strategy right often involves innovation, so don’t be afraid to show off a little sartorial flair while wowing your clients with your skill and experience.

Article by: Cassidy Franklin

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Startup Tips: Introduction to Venture Capital

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Image credit: Embroker

Venture capital is a way of financing a startup, especially when seed rounds and investments from angel investors run dry. In a nutshell, early stage businesses with high growth rates receive funding from established firms through a dynamic venture capital ecosystem. This ecosystem can be intimidating for many new entrepreneurs, so knowing where to start and best practices is key to navigating the VC ecosystem.

What is Series A funding?

Series A funding is commonly known as the first step on the road to venture capital. Starting a business likely requires some form of fundraising, especially in the initial stages. Running a business is expensive and not everyone has change sitting around to just jump start a business idea and that where Series A venture capital comes in.

Venture capitalists can make low-scale fundraising efforts look minuscule. In 2018, the average Series A funding was greater than $11 million. This shows how venture capitalists can significantly impact the power of a business.

Furthermore, data on growth rates and quarterly income can prove to investors the value of your company’s products or services. Ultimately, VCs want to invest in companies with high ROIs.

Identify the Right Venture Capitalists

Research different venture capitalist firms and identify the firm’s core competencies and areas of conviction. This could help narrow down your search because some venture capitalists may have investments in competitors.

Network with Venture Capitalists

Getting a meeting with a venture capital firm is a lot easier said than done. Cold emails blasted out to firms won’t do you much good. The power lies in networking and warm introductions—it’s all about who you know. If you can manage a warm introduction, this is a great place to start. A warm introduction can be described as when a third party recommends an entrepreneur to a venture capitalist. This helps venture capitalists efficiently manage their time and meet with business owners relevant to their interests.

Of course social networking is always a great place to get your foot in the door. Networks such as Twitter and LinkedIn are good places to find investment communities and become part of the discussion. Identify the active partners who invested in a recent venture-funded startup and connect with them online.

Making the decision to transition to Series A venture capital funding isn’t an easy task. However, educating yourself on the ecosystem and how to position yourself for success can help diminish intimidating factors. To help set you up for success Embroker put together a guide to raising venture capital that covers terms, pitch deck best practices and tips to help you prepare for a meeting with venture capitalists. Be confident and reach new heights with venture capital funding!

Startup Tips: Introduction to Venture Capital

Find the full resource here

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Study : Psychology and Pain Points of Today’s Business Leaders

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What do you imagine when you think about running your own business? You envision financial freedom, flexible work hours and the ability to make important decisions. This is possible, but the reality is, many entrepreneurs experience failure before experiencing success.

What’s it really like to run your own company? How many American business owners feel prepared to handle changes in the market? Robbins Research Institute partnered with Survata to find out how 152 American business owners felt about their companies. Here are a few insights into what they uncovered.


© Tony Robbins

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