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Why Customer Engagement Should Be Every Business’s Top Priority in 2020

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Everyone’s talking about customer engagement — but why is it so important, and what does it really mean? How does customer engagement look in action, when you’re a business trying to connect with your customers today?

We already know a lot about the customer journey — how it’s made up of numerous touch points, from search to purchase to post-purchase support. And we know that providing a good customer experience at each of those touch points is critical to building and maintaining a solid reputation for your brand. But customer engagement is often overlooked, even though it’s critical to nudging customers along their journey.

Customer Engagement Impacts Profitability

Customer engagement is about inspiring your customers to interact with your brand and willingly take part in the experiences you’re creating for them. If you do it right, you’ll grow your brand and build customer loyalty — and, in turn, drive revenue.

In fact, there’s a direct and proven correlation between the level of customer engagement and business profitability. A study by Constellation Research reported that companies who improve engagement can increase cross-sell revenue by 22 percent, up-sell revenue by 38 percent and order size by 5 to 85 percent. Reputation.com research backs up these findings —  a high rate of customer engagement increases Reputation Score, and we’ve found direct links between high Scores and revenue in multiple industries, including Automotive and Healthcare.

Today In: Small Business

Despite the immense financial impact engaging with customers can have, some companies are still not doing it.

Case in Point: Retail

In the recently released Retail Reputation Report, data scientists at Reputaiton.com found that most retailers simply don’t respond to reviews — particularly negative ones. Think about the message that sends! I’m a customer who’s had a bad experience with a business, so I do the only constructive thing I can do to express my frustration: I write a review.

Probably like most consumers, I assume the business will care if I have had a negative experience and try to fix it. If they do, they’re better off. If they don’t, I might be left feeling like they simply don’t care what kind of experience I’ve had. Am I likely to buy products from that business again? Well, much less likely, right? And if I do, I’m not going to feel good about it. I may tell my friends I dislike that business, and they’ll probably avoid it in the future, too. Perhaps most importantly, I will almost certainly not say GOOD things about the business to my friends.

When someone takes time to leave a review — good or (especially) bad — it’s the ideal time to engage. We all get this, but surprisingly, the average response rate to negative reviews among leading retailers is just 2 percent. It’s no wonder Amazon is eating away at retailers’ market share, with their frictionless shopping experience and infinite inventory.

Now let’s consider a brand who does a good job of engaging with customers. Nordstrom and Nordstrom Rack scored exceptionally high for engagement, compared to many other retailers (61% and 79% respectively). That’s because they place a premium on delivering exceptional service and ensuring their customers are happy and engaged. And maybe that’s one of the reasons that, while many retailers are struggling to keep their doors open, Nordstrom and Nordstrom Rack are still reporting strong profits.

Investing In Customer Experience Is a Huge Lever for Revenue

The power of engaging and connecting with customers isn’t limited to the B2C world. According to Econsultancy’s Annual Digital Trends report, B2B companies identify customer experience — the product of meaningful customer engagement — as the single most exciting opportunity for 2020.

Temkin Group reports that companies that earn $1 billion annually can earn $775 million more within three years of investing in customer experience with “modest” results. The report found that to be true across industries, with software companies earning the most ($1 billion over three years). Success, effort and emotion, according to the report, were the three factors impacting customer loyalty, and an improvement in emotion increases loyalty more than any other factor. A meaningful customer engagement is the best way to stir up the positive emotions that keep customers coming back.

Take a Walk In Your Customer’s Shoes

So how do you connect with customers on an emotional level and improve customer engagement? Here are a few starting points:

  • Analyze the customer journey. How else can you know what the customer’s experience with your brand or locations is like? Take their journey, and take note of and sticking points or frustrating interactions. Are the emails you’re sending helpful and informative, or intrusive and self-serving? Are your locations easy to get to and welcoming? Is your staff friendly and professional? Do you follow up after customer interactions and respond to reviews? Every one of these customer touchpoints presents an opportunity for engaging with your customers in a mutually beneficial way. Make sure you’re doing that, and if you’re not, it’s time to start.
  • Listen to what customers say about you. Today’s customers are vocal, and it’s easy to find feedback on Google, Facebook, G2 and other review sites. You should also invest in social media management, so you can actively monitor social commentary and reviews as they come in — 42% of customers expect a response within 60 minutes, and a delayed response is almost as bad as no response.
  • Deliver seamless omnichannel experiences. If you analyze the customer journey properly, you’ll find brand interactions occur across many channels — search results, emails, websites, physical locations and even text. Make sure to deliver a consistent and pleasant experience every time you engage with your customer, regardless of channel. One bad or confusing interaction can ruin the opportunity to engage effectively, and could even begin to break down the trust and loyalty you’ve invested in building.
  • Pay attention to all factors that comprise your Reputation Score. Increasingly, brands are turning to Reputation Score as the most accurate measurement of customer experience. It’s more thorough than NPS, because it takes into account all the factors affecting your reputation. A critical component of the score is engagement, as measured by your brand’s performance across every customer touch point. Knowing and monitoring your Reputation Score is an essential step to mastering the art  — and reaping the benefits — of customer engagement.

Don’t Force It

An important thing to remember is you can’t force your customers to engage with you. As HubSpot’s Paul Greenberg said, “Customer engagement is the ongoing interactions between company and customer, offered by the company, chosen by the customer.” The customer decides how to interact and engage — you can only create the opportunities, and ensure that your diligent effort and reputation inspire people to take action.

Follow me on Twitter. Check out my website.

I’m the Founder and Chairman of Reputation.com. I started my business because digital privacy, Big Data and online reputation are issues that impact everyone from individuals to massive corporations. People should be the center of the Internet machine – not cogs in its wheel. More empowerment online, not less, not what we have now. Follow me @michaelfertik.

Source:https://www.forbes.com

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Session recording from Industry Preview 2018. Session abstract: Salesforce Marketing Cloud Chief Strategy Officer, Jon Suarez-Davis (“JSD”) keynotes an engaging session drawing upon real life examples from working with some of the world’s biggest brands, shares Salesforce’s vision for the future of marketing, and makes some predictions about what’s coming next.

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This Scientist and Entrepreneur Proves You Don’t Need to Study Business to Succeed in It

Owning and running a company is no small task. It’s a difficult, stressful, never-ending process that actually gets more complex as you find success. It’s hard enough for people who specifically studied business in school. And for those who didn’t study business, the challenge is even more daunting. When so many former business students fail, it must frequently feel overwhelming for students of other disciplines.

YPO member Yi Li isn’t afraid of a challenge. A lifelong lover of science, she braved a new country and different culture when she left China to pursue her PhD in physics on a full scholarship at Louisiana State University. As she studied energy storage, battery technology and management, and charge control, she realized she had the makings of a great alternative energy company.

Li wasn’t hindered by her lack of business experience–in fact, she started her solar power company in her apartment while she was still a student. Today, Li is the president and CEO of Renogy Solar, which manufactures and sells a wide range of solar-powered products. Renogy was certified by the Women’s Business Enterprise National Council and earned a spot on the Inc. 5000 list of fastest-growing private companies. The company has also won several bronze- and gold-level awards from the Golden Bridge Awards, and was included on the Fastest-Growing Women-Owned Company list released by the Women Presidents’ Organization.

On an episode of my podcast 10 Minute Tips from the Top, Li shared her advice to non-business people starting a company:

1. Don’t be intimidated

Li didn’t have a business background, but she didn’t let that stop her from founding her own company. “I didn’t have any background or experience or education about running a business, or even financial experience or knowledge. I’d never thought about those difficulties,” she recalls. When she began, it certainly wasn’t all smooth sailing. “I definitely went through a lot of difficulties and challenges, but every time I saw challenges, I thought about my passion. I thought about my purpose.

If that’s my goal, forget about how I feel how difficult it is. Just try to find a solution,” she asserts. Li is also not afraid to admit what she doesn’t know. “If I see I lack knowledge [in a particular area], I’ll get a book or take online classes. I’m really a self-learner, so I learned all that stuff by myself,” she explains. Don’t let your own self-doubt get in the way of pursuing something great.

2. Don’t feel compelled to follow all the rules

While she acknowledges the difficulties inherent in starting a company without a business background, Li also believes there may be some benefit in not being tied to one philosophy. “You need to think outside the box,” she argues. “Don’t follow too many old-school type, book, education principles. Even if it’s a lot of good experience, it may not apply to you.” She encourages entrepreneurs to find their own path. “You can learn, but try to develop something that is unique to you,” she says.

Li believes she has a good example in Jack Ma of Alibaba. “He didn’t have all the necessary professional skills when he started the business–he was a teacher,” Li explains. “When he started the business, not everybody believed his dream. But he ignored all of the voices. If he decided to do something, he was very, very determined.” Ma and Li aren’t afraid to follow their instincts.

3. Be frugal

Li is very blunt about this: “You need to run a business frugally,” she emphasizes. The challenge, of course, is that talent can be expensive. Thankfully, she’s found a way to compensate for that. “My employees truly believe in what we’re doing,” she beams. “We’re still a startup, and we’re not paying as high compared to a lot of Fortune 500 companies,” she admits, but her company is about more than dollars and cents.

“I look for people who truly want to develop themselves, because they’re not here just for the paycheck. We instill a passion and a dream into our employees’ minds. That’s how I recruit people.”

4. Believe in it

Do what you love! It’s exactly what led Li down the path from science to entrepreneurship. “I truly want to be a scientist. I really love physics. What I studied was superconductivity and semiconductor materials. And one of my projects was related to alternative energy studies. So there I saw my passion taking form,” she fondly recalls. Whatever your calling, follow what brings you joy. “I truly believe you have to be a passionate person and do what you truly want to do,” Li states.

It doesn’t mean it will be easy. She explains, “You cannot just do this for money. You have to do this for love. Otherwise, you cannot deal with all of the obstacles you’ll face.” For Li, her mission is clear: “I really think a sustainable future is something we should all work for and fight for,” she says. Wherever your passion lies, pursue happiness.

On Fridays, Kevin explores industry trends, professional development, best practices, and other leadership topics with CEOs from around the world.

By Kevin DaumInc. 500 entrepreneur and best-selling author

Source: This Scientist and Entrepreneur Proves You Don’t Need to Study Business to Succeed in It

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Start Your Own Business by Writing Business Plan. How to write a successful business plan for successful startups. Step By Step – How to write a business plan an effectively for starting your own business. Watch 11 Elements of Sample Business Plan – https://www.youtube.com/watch?v=i1b0_… TOP 10 TIPS Before Starting Your OWN BUSINESS : https://youtu.be/wxyGeUkPYFM Join our Young Entrepreneurs Forum – http://www.youngentrepreneursforum.com/ #youngentrepreneursforum Do you need a business plan for successful startups in India, USA, UK & Canada. Starting an own business needs working plan which compiles some important details about product & company. Problem Solving Skills To Start a Small Business – https://www.youtube.com/watch?v=I9Ho3… #startsmallbusiness 9 Steps For Writing a Business Plan – Required Steps to Write a Business Plan for your company or service. Step 1 – Define your vision 1:16 Step 2 – Set your goals and objectives for the business 1:50 Step 3 – Define your Unique Selling Proposition 2:29 Step 4 – Know your market 3:02 Step 5 – Know your customer 3:57 Step 6 – Research the demand for your business 4:47 Step 7 – Set your marketing goals 5:52 Step 8 – Define your marketing strategy 6:38 Step 9 – Take Action! 7:20 These all Steps are very important while you are writing a business plan for starting your own business. Life of Riley by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/…) Source: http://incompetech.com/music/royalty-… Artist: http://incompetech.com/ You must have to focus on Idea, Product,Strategy,Team, Marketing and Profit while you are writing business plan for your successful stratups.

These Married Co-Founders Poured Their Life Savings Into Their Company. Then a Mistake Almost Cost Them Everything

In 2017 Farzan Dehmoubed, a marketer, and his wife Jennifer, a schoolteacher, created the Lotus Trolley Bag, a set of washable bags with attached rods that can be hung inside a shopping cart. The bags, with features like secure pockets for egg cartons and wine bottles and an insulated pocket for frozen foods, quickly became the top-selling reusable bag on Amazon, and are now sold in stores like Wegman’s, Albertson’s, Kroger, and TJ Maxx. But getting to that point required overcoming a mishap that nearly sunk their startup. –As told to Kevin J. Ryan

We invested $45,000 into our first inventory. It sold out in 10 days. We were really excited. We called up our manufacturer and placed another order. We wired them $50,000–everything we made on the first batch and more.

Six weeks later a big container arrived. We had our friends and family help us unload it. We opened up the boxes and looked at the product, and it was nothing like the first set of bags. It looked the same from a distance, but when you actually looked at the stitching and the quality of the printing and the logo, it was not what we had ordered. My wife and I looked at each other and said, “This can’t be real.”

I remember thinking to myself, ‘We can fix this, maybe it’s just some loose thread.’ But it wasn’t salvageable. We placed a complaint with the manufacturer, even though we knew it wouldn’t go anywhere, since we were just a family business with very little leverage. We later learned it had outsourced the order to save pennies on the dollar.

We decided pretty quickly we couldn’t sell the bags. We didn’t feel comfortable putting our name on them. That meant we would have to take the $50,000 loss. I don’t think Jenn and I talked for the rest of the day. It took a day or two to absorb the shock. 

Even though the manufacturer promised us they would do better the next time around, we weren’t going to be fooled twice. I flew to multiple manufacturers in Vietnam until we found a new one we were happy with. We hired a third-party quality check company. When the goods were ready to ship, they would go in and do an audit: open up each box and check them, and send us videos. We kicked ourselves for not doing that in the first place.

We placed a new $50,000 order, which required emptying our life savings and practically maxing out our credit cards. It was two months before the new inventory came. We were pretty upfront with our customers during that time. We told them very frankly: The bags didn’t come out the way we ordered them, the shipment is going to be delayed, and we really thank you for your patience.

I think letting your customers know you’re just like them, and that you’re just trying to provide a product that they’ll be happy with, goes a long way. People related to us. They were very understanding.

We still had a lot of orders canceled though, and we gave discounts to customers who had been patient. We were nervous when the new container came–if the product was bad, we would have lost everything. But it was exactly what we’d ordered. We sold out almost right away. Because of the discounts, we didn’t make much money at all on that order, but we had our reputation.

Not putting that product on the market was one of the best decisions we ever made. If we had, I can guarantee you we wouldn’t be where we are right now. It would have killed our reviews. It would have ruined our brand.

We now have a 4.6-star rating on Amazon with more than 700 five-star reviews. We’re on pace for $3 million in sales this year. We just launched our second product, a reusable produce bag, and those same early consumers are buying it.

As a business owner, you have to make your decisions for the long-term. For us to take that financial hit was scary, but we had bigger goals in mind. We got through it. And we made a lot of loyal fans in the process.

By Kevin J. RyanStaff writer, Inc.

Source: These Married Co-Founders Poured Their Life Savings Into Their Company. Then a Mistake Almost Cost Them Everything

7.98K subscribers
Every business has risk associated with it. In this video Mr. Ashok Ajmera in very simple words talks about various kind of risks and how to manage them which can be very useful in any business.

This Family Business Has Thrived for 64 Years by Selling Old-School Products Popular With Nostalgia Lovers–and the Amish

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Editor’s note: This tour of small businesses across the country highlights the imagination, diversity, and resilience of American enterprise.

Galen Lehman will take on anyone with his scythe. “I can cut grass fast or faster than a weed eater,” he says. Furthermore, after that grass is shorn, his electric-tool wielding opponent will be left with ears ringing and the stench of burnt oil clinging to his skin. Not Lehman. “I won’t smell like petrochemicals,” he says. “And my ears will have been filled with birdsong and the gentle swish, swish, swish of my scythe.”

Lehman’s, a family business in the small farming community of Kidron, Ohio, harks back to the days when a product’s bells and whistles were actual bells and whistles. In 1955, while the rest of the country swooned over newfangled inventions like wireless TV remotes and  microwave ovens, Jay Lehman started selling all things non-electrical to the local Amish population. Over the next six decades, others discovered the business, says Galen, who is Jay’s son and the CEO. (Jay’s daughter, Glenda Lehman Ervin, is vice president of marketing.) Today, gardeners, environmentalists, preppers, homesteaders, and the chronically nostalgic flock to this 120-employee business for their cook stoves and canning jars, candle-making supplies, and composting toilets.

Galen Lehman, CEO of Lehman’s.Angelo Merendino

What those populations share is the desire for a simpler life. Simple doesn’t mean easy, Galen explains: “It is not simpler to light an oil lamp than it is to flip on a light switch.” At Lehman’s, simpler means closer to nature. It means labor performed with your hands. It means understanding how products work just by looking at them. Often it means working alongside neighbors: easing one another’s loads.

Those values are cherished by the Amish, who still account for 20 percent of retail sales. The company also wholesales some products, like gas refrigerators, into Amish communities. In addition, about 250 of Lehman’s roughly 1,600 vendors are Amish. “Now we are buying more from Amish manufacturers than we are selling to the Amish,” says Jay Lehman, 90, who remained active in the business until a few months ago.

As more tourists and other outsiders (known as “English” in the Amish community) have descended on the store, most of Lehman’s Amish customers have retreated to the company’s second, smaller location in nearby Mount Hope. “The outsiders are sometimes a little invasive with their cameras and their questions and even just staring,” says Galen.

The Lehmans, who are Mennonite, embrace technology for their company: using high-tech to sell low-tech, as they like to say. E-commerce comprises half of sales, and the business is active on social media. But walk in the store on a given day and you might see a wood carver fashioning country scenes for display in the buggy barn or wander into a yoga class that incorporates goats.

Hank Rossiter, a retired nurse who lives nearby, has been buying sprinkling cans, kerosene lamps, axes, wood splitters, kitchen gear, and many other goods at Lehman’s for decades. Trying to give up plastics, he and his wife Marilyn recently went there to pick up some stainless steel drinking straws, and the tiny brushes to clean them. “I may think, how can I simplify this? How can I reduce my carbon footprint?” Rossiter says. “I’m pretty sure Lehman’s will have the answer.”

What would the Amish do?

Jay Lehman was born and raised in Kidron, a farm kid who plowed and planted, then worked as a mechanic in the local garage. In 1955, the owner of the local hardware store was retiring, and he got loans to take it over. For the first few years he had to pay rent on the building, so he drove a school bus while his father looked after the store.

Jay Lehman, founder of Lehman’s.Angelo Merendino

The previous owner had carried a large stock of goods for the Amish, and Jay decided to stick with that strategy. In the evenings, he roamed around the countryside in a pickup truck delivering purchases too large to fit in his customers’ buggies. “I would do it until the houses had no more lights in them,” says Jay. “Then I knew it was time to go home.”

The business grew slowly. Then, in 1961, Jay moved to Africa, where he arranged travel for missionaries. A period in New York doing similar work followed. His brother, David, ran the store until Jay’s return in the mid-’70s. The oil crisis was in full swing, “and everyone was panicking,” says Jay. “They said, what do we do? Well, what do the Amish do? They get along without these things. If the Amish can do this, we can do it too.” Sales soared.

Then a magazine called Organic Gardening published a laudatory article about the Victoria Strainer, a product sold by Lehman’s for separating out seeds from applesauce and tomatoes. Orders poured in from around the country; and the new customers wanted to know what else Lehman’s sold. The company mailed out product brochures and a catalog that by century’s end would reach more than a million customers and eventually earn Lehman’s a place in the Smithsonian’s National Postal Museum.

During the 1980s and ’90s, nostalgia largely drove new sales “People in their 60s and 70s wanted to do things the way they remembered when they were younger,” Galen says. Eventually, the rosy glow of a cherished past gave way to the dark clouds of an uncertain future. Lehman’s next big surge occurred in the late 1990s. Y2K fears stoked the Prepper movement, and even non-survivalists stocked up on lanterns, water filters, and kerosene cookers. Subsequent end-time panics–the end of the Mayan calendar, the blood moon prophecies–sparked mini-booms.

Angelo Merendino

But recently the Preppers have grown less important to Lehman’s. Galen is OK with that. “We don’t think being prepared means hunkering down and arming yourself against the zombie apocalypse or whatever is out to get you,” he says. “Being prepared is being ready with supplies that can help you and your neighbors and your family.”

Looking for the last big thing

For a business that regards “new and improved” as an oxymoron, sourcing can be a challenge. The non-electric market has been shrinking since the store’s earliest days, causing manufacturers to shut down or switch product lines. As a result, the Lehmans have sometimes scrambled for new suppliers, sourcing kerosene cook stoves from South America and gas refrigerators from Sweden, for example. The large majority of products, however, remain American-made.

The company has occasionally acquired expiring product lines, like apple peelers from the once-mighty Reading Hardware Company. In 2015, Lehman’s took over the struggling 108-year-old Aladdin Lamp Company, whose kerosene models incorporate a mantel over the wick to produce an unusually bright, hot light.

Occasionally, Galen designs products himself. Working in Lehman’s R&D facility–a corner of the store with some plywood benches and hammers–he recreated the Daisy butter churn, which had been out of production since midcentury. “It’s a pretty good replication of the original with some improvements,” he says. “It churns faster because of changes I made to the paddle.” He has also produced a hand-cranked grain mill out of cast aluminum rather than cast iron, which allowed him to cut the price in half.

Angelo Merendino

The store’s Amish-made products are extensive, ranging from rocking chairs and cherry baskets to whisk brooms and croquet sets. Amish manufacturers suit Lehman’s because they operate on a small scale and so don’t require huge minimum orders. The flip side is they typically can’t or won’t ramp up volume when demand for something unexpectedly surges. “A lot of times they will say, ‘I can’t make your product because it is time to make hay or I need to plant the fields,'” Galen says.

Wherever they’re sourced, many products arrive without instruction manuals or other documentation. As a staff resource, the company maintains a library of old books on subjects like canning and butchering. Galen has bolstered that knowledge by interviewing people in their 60s, 70s, and 80s about the finer points of operating old-style tools and devices. Working with an employee he created training programs for the company’s main product lines. Employees certified in the operation of oil lamps, water pumps, and other devices receive a bump in pay.

While the company’s nostalgia-driven demand is, by law of nature, declining, Lehman’s is enjoying both more and new business from other sources. The Amish population is growing both in the United States and around the world. And those notoriously screen-addicted Millennials have been surprisingly receptive to the company’s message of living simply and well.

“You talk to people who work in technology,” Galen says. “They go home, and more than anything else, they want to get some dirt under their fingernails.”

Leigh BuchananEditor-at-large, Inc. magazine

https://youtu.be/0WohxniaPHg

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Peter instills in us that doing things a different way can be the right way. Your own way. He walks the line of family business and business being his family flipping traditional business models upside down. While some would caution never to mix the two, he has by putting “place first” creating an environment that is welcoming to all those who are lucky enough to find this hidden gem of a restaurant – 2017 Restaurant of the year in Portland, OR – HAN OAK. With special thanks to core the TEDxPortland organizing team, 70+ volunteers and cherished partners – without you this experience would not be possible. Our event history can be found TEDxPortland.com In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized. Peter’s restaurant, the Korean-inspired Han Oak, was Portland Monthly’s 2017 restaurant of the year. Inside its walls unfurls a world rooted in both tradition and fresh interpretations on authentic cuisines. Peter cut his teeth in New York for 13 years in the kitchen of Michelin star chef April Bloomfield before his desire to be closer to his family called him to the Rose City. In 2017, he was recognized by Food & Wine as best new chef and is currently nominated for a James Beard Award for Best Chef Northwest. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

The Most Underrated Skill That You Need To Be Successful

This skill is so underrated that you can get pretty far in your career without anyone really noticing that you don’t have it or can’t apply it well. I’m talking about effective decision making. All sorts of people get through years of working; they even make it all the way to the C-suite without anyone ever even discussing this. But lose half a million in a quarter, cause a $50 million disaster, create a major service quality deficit or hire the wrong people for the wrong jobs too many times and people surely start to take notice.

The powers that be will surely notice that decision making – a skill you were likely never evaluated for – is suddenly getting in the way of your success and causing the organization to suffer.

Education Can’t Outrun Poor Decisions.

No amount of education or experience can outrun or outweigh poor decision making in the long run. The costs of bad decisions always surface and find a way to make you and the entire organization look bad. Observe the top ranks in any organization, and you will likely find highly qualified, educated and experienced executives and directors, but you’d be well advised not to assume that they can or will apply effective decision making when the moment requires it or the situation demands it. By the time leaders are exposed as deficient in this area, the organization has already taken huge hits and the culture and employees surely feel it.

Let’s look at what effective decision making is and what it isn’t as well as why it’s a necessary component of career and organizational success.

Effective decision making is a necessary but most underrated skill.

The higher up the career ladder you go, the more responsible you are for decision making. You become responsible for your own ability to make good decisions and accountable for the decision making – or lack thereof – of others on your team. If you find your career progression has struggled or stalled or that you are not getting the respect you seek, consider whether or not your decision-making methods could be hindering your success and how.

Decision making is underrated because people tend to credit others as competent in it without making any meaningful observations or assessments. Yet, a skill deficit in this area can create disastrous results for employees and organizations. Its importance is most appreciated after organizational leaders try to reactively remedy a catastrophe rather than when they should have been proactively trying to prevent one in the first place.

Today In: Leadership

Very smart people can (and do) make very bad decisions.

Some of the smartest – and most accomplished – people in the world have been in rooms when some of the worst decisions have been made (think Enron, the 2008 financial crisis, the 2010 BP Deepwater Horizon disaster and the 2019 Boeing 737 Max FAA disasters). Then there are the decisions that organizational leaders make every day which lead to staggering operational inefficiencies, unnecessary redundancies, poor quality output, ineffective and contradictory policies, bad customer service and flawed hiring. How can this be?

There are myriad reasons for bad, unethical or grossly negligent decisions including poor leadership, the lack of decision-making processes, ego, peer pressure, etc. But the top reasons would be resistance to critical thinking and analysis as well as the lack of an established decision-making process that accounts for human biases and ethical gaps.

Effective decision making is not synonymous with decisiveness.

Organizations go to great pains to recruit and reward decisive leaders when they should, instead, be working harder to secure effective ones. Certainly, decisive leadership has a proper time and place, but decisiveness is not synonymous with effectiveness. Further, when applied improperly or excessively, it can be a detriment to effective leadership and an impediment to effective decision making.

Sometimes being decisive can work against you.

These four perils to decisive leadership can create long-lasting harm to organizational and career success. You’ll want to avoid this kind of decision making whenever possible.

  1. Ready-shoot-aim. A decisive leader could have a shoot-first mentality whereby he will make a decision and ask questions later (if ever) with little regard for short or long-term consequences.
  2. Acting is more important than thinking. A decisive leader could believe that he’ll be rewarded for quick decisions even if those decisions may do greater harm in the long run. The goal becomes to just do something, and do it as fast as possible.
  3. Decisions aren’t connected to data. A decisive leader can become driven to achieve some predefined outcome regardless of whether the data supports the outcome or not. What is best for the outcome overrides what is best for the organization or the internal or external stakeholders.
  4. The ego can get bigger than the organization. A decisive leader may not tolerate or encourage dissent. In the worst cases, people are punished for disagreeing and rewarded for perpetual agreement. Hence, the decider creates – rather than reduces – higher levels of organizational risk.

Effective decision making requires analysis.

The best decision makers understand that regardless of which decision-making model they use, they must be strategic about it. Effective decisions are well-thought decisions with the results or consequences being weighed and considered beforehand.

Effective decision makers are often better strategic thinkers too because their processes start with better questions like these:

  1. Why do I/we need to care about this issue? Or, what prompted the need for this decision to be made?
  2. What happens if I/we don’t decide on this issue? Is the status quo acceptable? Why or why not?
  3. What outcomes are we trying to achieve? Who cares about them and why?
  4. What are my/our biases, prejudices, interests or values? Are they congruent with the defined decision options?
  5. Whom will this decision mostly affect? How?
  6. What are the positive and negative consequences of this decision? What is this based on?
  7. Who are the short-term and long-term beneficiaries? Who gets to define them?
  8. What is the worst result this decision can bring? Can I/we live with that?
  9. What are forces for or against this decision? Do I/we care? Why or why not?
  10. What is the second choice/option or fallback position? Is it viable, and how do I/we know?

Effective decision making is necessary for professional and career success.

Decision making is indeed a skill, and it is critical for personal, professional and career success. It applies to all areas of the business including hiring, operations, marketing, finance, etc. And it is most helpful when contemplating and deciding on your next career moves.

Those who are able and willing to apply effective decision making to their career will better understand which job opportunities to accept and which ones to decline and which career risks to take and which ones to pass. They are better able to gauge which extracurricular projects to accept and which ones to turn down.

Ultimately, by making better decisions, you will take more calculated risks to advance your career, and you will know where to focus your time and efforts for career building and networking so you can realize the greatest benefits over time.

Follow me on Twitter or LinkedIn. Check out my website or some of my other work here.

I am a strategist, management consultant, executive coach and international speaker and have delivered meaningful results for executives and leaders in 42 states and 6 countries across 3 continents. I serve as CEO for ARVis Institute, a strategy, change, performance and human capital consulting firm. I have committed my research, education and professional talents to transforming governments, corporations, nonprofits and educational institutions and develop leaders and managers who have the capacity to create high-performing organizations and the competence to affect positive change.

Source: The Most Underrated Skill That You Need To Be Successful

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Paula Golden philanthropist — amalgamator Broadcom Foundation, Executive Director “Successful philanthropy unites good people with the right cause and insures that the relationships are long-term, productive and gratifying.” As executive director of the Broadcom Foundation and director of Broadcom Corporation Community Affairs, Paula Golden is responsible for all aspects of the Broadcom Foundation, which includes funding education and research initiatives in science, technology, engineering and mathematics (STEM) worldwide. She also oversees the volunteer activities of 13,000 employees at Broadcom, a global Fortune 500 company and leading innovator in semiconductor solutions for wired and wireless communications. Paula earned her undergraduate degree in English and education from Wellesley College and was assistant dean and instructor of law at New England School of Law where she earned her Juris Doctor, cum laude. She also served as executive director of the Engineering Center and Engineering Center Education Trust, director of development for University of California, Los Angeles Neurosciences, and vice president of the Saint John’s Health Center Foundation. She partners with progressive nonprofits, government entities, formal and informal learning programs, and Broadcom employee-volunteers throughout the world to develop STEM learning processes and teacher training that will assist young people from all strata of society to become scientists, engineers and innovators of the future. This work includes developing the Broadcom MASTERS® and the Broadcom MASTERS International, signature programs of Society for Science and the Public. The Broadcom MASTERS® is the premier international middle school science and engineering competition designed to engage students between the ages of 11 and 14 in project-based learning and inspire them to continue studies in math and science through high school in order to achieve college and career goals. Paula also oversees Broadcom Foundation’s university research funding that reaches more than 64 renowned universities worldwide and directs the prestigious Broadcom Foundation University Research Competition. – – – – – – – – – – In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

Bill Gates: High Schoolers Should Cultivate 1 Skill to Thrive in 2030 and Beyond

No one can predict the future. Not even Bill Gates. But the billionaire founder of Microsoft and philanthropist can tell you which skills he thinks will give you a competitive edge in the future.

Gates recently touched on this topic when he delivered a lecture at his high school alma mater, Lakeside School in Seattle. Fun fact: Another famous alumni is Microsoft co-founder Paul Allen. The two met when they were students there.

The first question the school’s head Bernie Noe posed to Bill Gates was this: “What do today’s students need to know to thrive in 2030 and 2040?”

You’re never too old to keep learning.

Gates encouraged the high school students to cultivate their curiosity. The more knowledge they seek out, the better they’ll be prepared for what’s ahead.

“For the curious learner, these are the best of times because your ability to constantly refresh your knowledge with either podcasts or lectures that are online is better than ever,” Gates said.

To do that, Gates said students must build your sense of curiosity and basic framework of knowledge. History, science, and economics are the subject areas he sees as being particularly useful to be successful in the future.

What Bill Gates predicts for the decades ahead.

During the decades ahead, the digital revolution will surprise us,” Gates said.

This is where that foundational knowledge and drive to keep learning will come into play. He thinks having the self confidence and willingness to keep learning will help prepare students for that revolution.

For example, he says changes that will take place in healthcare and climate change will require an understanding of the sciences.

He also believes teeangers must be more informed than ever on current affairs and past events. “Democracy is going to more and more require participants,” he said. He says understanding history — both of the United States and the entire world — will prepare students to understand why the world is in the situation it’s in.

Bill Gates is his own case study.

When Gates graduated from Lakeside in 1973, he didn’t know what the future would hold. There was one thing he took with him though that prepared him for his future success: “I had the ability to learn.”

He never expected that he would drop out of Harvard. In fact, Gates was so hungry for knowledge that he took extra classes in college just because they sounded fun and interesting. He admits that he wasn’t very sociable because his heavy course load was all-consuming. “I managed to get two and a half years there, and I loved every minute of it,” he said.

Gates dropped out of Harvard and started Microsoft with his former Lakeside buddy Paul Allen in 1975. The rest is history.

Betsy MikelOwner, Aveck

Source: Bill Gates: High Schoolers Should Cultivate 1 Skill to Thrive in 2030 and Beyond

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Check out these books by and about Bill Gates: * Business @ the Speed of Thought: https://amzn.to/2PAw27v * The Road Ahead: https://amzn.to/2QfWPDh * Gates: How Microsoft’s Mogul Reinvented an Industry: https://amzn.to/2PGLvmu * Who Is Bill Gates?: https://amzn.to/2PF7bzu * Bill Gates and the Making of the Microsoft Empire: https://amzn.to/2qrh5Xc He consistently ranks in the Forbes list of the world’s wealthiest people. He’s one of the best-known entrepreneurs of the personal computer revolution. He is also the second-most generous philanthropist in America, having given over $28 billion to charity. He’s Bill Gates and here are his Top 10 Rules for Success. * Join my BELIEVE newsletter: http://www.evancarmichael.com/newslet… 1. Have energy 2. Have a BAD influence 3. Work hard 4. Create the future 5. Enjoy what you do 6. Play bridge 7. Ask for advice 8. Pick good people 9. Don’t procrastinate 10. Have a sense of humor Sources: https://www.youtube.com/watch?v=ldPh0… https://www.youtube.com/watch?v=zGZb9… https://www.youtube.com/watch?v=pyg-D… https://www.youtube.com/watch?v=nJcFs… https://www.youtube.com/watch?v=EBdIe… https://www.youtube.com/watch?v=XS6ys… https://www.youtube.com/watch?v=ynQ5Z… https://www.youtube.com/watch?v=KxaCO… https://www.youtube.com/watch?v=IY2j_… https://www.youtube.com/watch?v=fI_xu… ENGAGE * Subscribe to my channel: http://www.youtube.com/subscription_c… * Leave a comment, thumbs up the video (please!) * Suppport me: http://www.evancarmichael.com/support/ CONNECT * Twitter: https://twitter.com/evancarmichael * Facebook: https://www.facebook.com/EvanCarmicha… * Google+: https://plus.google.com/1084697716903… * Website: http://www.evancarmichael.com EVAN * About: http://www.evancarmichael.com/about/ * Guides: http://www.evancarmichael.com/zhuge/ * Coaching: http://www.evancarmichael.com/movement/ * Speaking: http://www.evancarmichael.com/speaking/ * Gear: http://evancarmichael.com/gear SCHEDULE * Videos every day at 7am and 5pm EST * Weekends – Top 10 Videos: https://www.youtube.com/playlist?list… * #Entspresso – Weekday mornings: https://www.youtube.com/playlist?list…

The One Uncomfortable Feeling You Must Experience In Order To Be Successful

Contrary to conventional wisdom, success depends less on the virtues of talent and drive than it does one’s ability to withstand fear and uncertainty. Many people display inclinations toward one skill or another in their early lives. Many champion the title of best in the school, team or town – but talent is only a part of the equation. What separates the outliers from the rest is not the amount of discomfort they are willing to bear – the difference is whether or not they can withstand uncertainty.

Uncertainty is the fertile ground of your life. It is the grey area in which anything is possible. The wisest person in the room is the one who never believes they are the smartest – genuinely intelligent people live in uncertainty, they know that there is always more to learn, see and discover. Uncertainty is the first step of any worthwhile endeavor. It requires a fearlessness. Because for as powerfully transformative as it is, it is also the human emotion we are least inclined to tolerate.

When nothing is certain, anything is possible. – Bianca Bass

The word comfort is laced through so much advice that we share: step out of your comfort zone, make enough to be comfortable, don’t do anything that doesn’t feel right. But this doesn’t account for the ways in which our feelings often betray us. Emotions are the way the brain pieces together sensory stimulations with its perceived environment. It’s easy to see why we can become anxious when our chest tightens and we associate the feeling with being disapproved of by friends. From this, an association is created.

Today In: Leadership

In their life’s work, most people want to be successful without having to sacrifice their comfort. That’s why so many people perceive “success” to be synonymous with risk reduction (think of things such as stable housing, a guaranteed job, etc.) It befuddles them, then, to discover that after 10 years living this kind of life, they are unfulfilled, drained, and thoroughly dissatisfied.

Let go of certainty. The opposite isn’t uncertainty. It’s openness, curiosity and a willingness to embrace paradox, rather than choose up sides. The ultimate challenge is to accept ourselves exactly as we are, but never stop trying to learn and grow. ― Tony Schwartz

Human beings do not chase happiness, they chase comfort. They pick partners that re-create familiar relationships in their childhood. They choose jobs that they believe will earn them either a place in society, or the merit of being “safe” in some way. Most things that we do are with the intent of generating more comfort, and so it is counterintuitive at best to recognize that actually accomplishing something worthwhile requires enduring that which we have spent most of our lives trying to avoid.

You’re not supposed to know what the future holds. If you know where the path leads, it’s because you’re on somebody else’s.

Human beings crave certainty in the way they crave comfort – because life is an inherently uncomfortable and uncertain thing. But instead of trying to manufacture an abundance of those emotions, perhaps consider that life is uncertain for a reason. There are so many virtues of letting things be open-ended, in admitting that you don’t know what you don’t know. People often believe that when they’ve lost their “plan,” their knowing of what’s next that all has fallen apart. They look back often to realize that their lives were really just beginning… and in embracing what they didn’t know, they found a life that was greater than what they could have previously imagined.

Source: The One Uncomfortable Feeling You Must Experience In Order To Be Successful

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The 10+ Most Important Job Skills Every Company Will Be Looking For In 2020

As the world evolves to embrace the 4th industrial revolution, our workplaces are changing. Just as other industrial revolutions transformed the skillset and experience required from the workforce, we can expect the same from this revolution. Only five years from now, 35 percent of the skills seen as essential today will change according to the World Economic Forum. While we’re not able to predict the future, yet, here are the ten most important job skills (plus a bonus one) every company will be looking for in 2020.

1.  Data Literacy

Data has become every organization’s most important asset—the “fuel” of the 4th industrial revolution. Companies that don’t use that fuel to drive their success will inevitably fall behind. So, to make data valuable, organizations must employ individuals who have data literacy and the skills to turn the data into business value.

2.  Critical Thinking

There’s no shortage of information and data, but individuals with the ability to discern what information is trustworthy among the abundant mix of misinformation such as fakes news, deep fakes, propaganda, and more will be critical to an organization’s success. Critical thinking doesn’t imply being negative; it’s about being able to objectively evaluate information and how it should be used or even if it should be trusted by an organization. Employees who are open-minded, yet able to judge the quality of information inundating us will be valued.

3.  Tech Savviness

Today In: Innovation

Technical skills will be required by employees doing just about every job since digital tools will be commonplace as the 4th industrial revolution impacts every industry. Artificial intelligence, Internet of Things, virtual and augmented reality, robotics, blockchain, and more will become a part of every worker’s everyday experience, whether the workplace is a factory or law firm. So, not only do people need to be comfortable around these tools, they will need to develop skills to work with them. Awareness of these technologies and relevant technical skills will be required for every job from a hairstylist to an accountant and everything in between.

4.  Adaptability and Flexibility

As quickly as the world is changing, the half-life of skills is constantly reducing. Therefore, people need to commit to learning new skills throughout their careers and know they must be adaptable to change. Important to this is understanding that what worked yesterday isn’t necessarily the best strategy for tomorrow, so openness to unlearning skills is also important. Additionally, people must be cognitively flexible to new ideas and ways of doing things.

5.  Creativity

Regardless of how many machines work beside us, humans are still better at creativity. It’s essential that creative humans are employed by companies to invent, imagine something new and dream up a better tomorrow. Tomorrow’s workplaces will demand new ways of thinking, and human creativity is critical to moving forward.

6.  Emotional Intelligence (EQ)

Another area where humans have the edge on machines is with emotional intelligence—our ability to be aware of, control, and express our emotions and the emotions of others. This ability will be important as long as there are humans in the workforce since it impacts every interaction we have with one another.

7.  Cultural Intelligence and Diversity

Organizations are increasingly diverse, and effective employees must be able to respect differences and work with people of a different race, religion, age, gender, or sexual orientation. Also, businesses are increasingly operating across international boundaries, which means it is important that employees are sensitive to other cultures, languages, political, and religious beliefs. Employees with strong cultural intelligence and who can adapt to others who might perceive the world differently are also key in developing more inclusive products and services for an organization.

8.  Leadership Skills

Leadership skills will be paramount for not only those at the top of a traditional corporate hierarchy but increasingly for those individuals throughout the company who are expected to lead in the 4th industrial revolution. Enabled by the support of machines, there will be more individuals who are in decision-making positions, whether leading project teams or departments. Understanding how to bring out the best in and inspire every individual within a diverse and distributed workforce requires strong leadership skills.

9.  Judgment and Complex Decision Making

Machines might be able to analyze data at a speed, and depth humans are incapable of, but many decisions regarding what to do with the information provided by machines must be still made by humans. Humans with the ability to take input from the data while considering how decisions can impact the broader community, including effects on human sensibilities such as morale, are important members of the team. So, even if the data support one decision, a human needs to step in to think about how a decision could impact other areas of the business, including its people.

10. Collaboration

When companies are looking to hire humans in the 4th industrial revolution, skills that are uniquely human such as collaboration and strong interpersonal skills will be emphasized. They will want employees on their team who can interact well with others and help drive the company forward collectively.

BONUS: In addition to the skills listed above that every company will be looking for in the 4th industrial revolution, there are several self-management skills that will make people more successful in the future, including self-motivation, prioritization/time management, stress management and the ability to embrace and celebrate change. Those people who have a growth mindset, are adept at experimenting and learning from mistakes, as well as have a sense of curiosity will be highly coveted in the 4th industrial revolution.

Follow me on Twitter or LinkedIn. Check out my website.

Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a strategic business & technology advisor to governments and companies. He helps organisations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence, big data, blockchains, and the Internet of Things. Why don’t you connect with Bernard on Twitter (@bernardmarr), LinkedIn (https://uk.linkedin.com/in/bernardmarr) or instagram (bernard.marr)?

Source: The 10+ Most Important Job Skills Every Company Will Be Looking For In 2020

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5 Things Your Resume MUST HAVE To Get More Job Interviews: https://youtu.be/WATpBoVprRk J.T. Free Job Search Resource: https://www.workitdaily.com/why-shut-… Get hired faster by working with our team of experts. Learn more here: https://www.workitdaily.com/pricing/ Showcasing the right skill sets is essential when you’re on the hunt for a job. If you want to stand out in the hiring process, you need to consider other skills that can give you an advantage over the competition. Here are some skill sets that can give you a “leg up” in the hiring process (even if they don’t directly relate to the job to which you’re applying): 1. Experience With Relevant Technologies Do you have experience with any programs, applications, software, or other technologies that relate to your field? Be sure to emphasize them on your resume and LinkedIn profile, especially if they’re listed in the job description. 2. Fluency In A Foreign Languages If you speak another language, make sure you showcase it! Although most jobs don’t require fluency in other languages, it’s not a bad thing to add to your resume or LinkedIn profile. In fact, it can actually give you bonus points because there are so many people who aren’t fluent in other languages. 3. Customer Service Skills It doesn’t matter if you were a server at a restaurant, a customer service representative, or a retail associate, if you dealt with customers in the past, you likely developed some good customer service skills. The ability to work with people is such a valuable skill set. Even if you won’t be working directly with customers in the role to which you’re applying, these people skills you’ve developed can help you work with colleagues and navigate tricky situations in the workplace. These are just a few things you can do that can give you a leg up in the hiring process. However, there could be things you’re doing that are holding you back… To get insight into what these are and how to fix them, be sure to check out my free resource here: Thousands of other professionals have found this helpful, so be sure to check it out. Free Tutorial: https://www.workitdaily.com/why-shut-… And, if you want J.T. and her team to help you become a pro at interviewing, negotiating and more, then you need to check out our career support platform. Want to learn more about our affordable Premium Subscription? Learn more here: https://www.workitdaily.com/pricing/ Follow Work It Daily: https://www.workitdaily.com/ https://twitter.com/workitdaily?lang=en https://www.facebook.com/groups/WorkIhttps://www.facebook.com/WorkItDaily/ #JobSearch #JobSearchTips #Resume

Why You Should Try a Subscription Model for Your Business (and Some Tips on How to Do It)

Every entrepreneur wants consistent monthly income to fuel their cash flow and business goals. However, between economic cycles and changing customer interests, that regular revenue may be hard to achieve.

I’ve talked with more and more small business owners lately who use a subscription business model. It involves offering monthly subscriptions for various products and services. Options for these subscriptions cover all kinds of items. Maybe you know someone who receives a subscription box filled with clothing or makeup. Perhaps you’ve tried making meals prepared by Blue Apron or you receive shaving supplies from Dollar Shave Club. Millions of people enjoy Netflix and Spotify for streaming. Other companies offer toys for kids and treat boxes for pets.

The subscription e-commerce industry generates hundreds of millions of dollars in revenue each year. A 2018 McKinsey survey noted that nearly 60 percent of American consumers surveyed had multiple subscriptions. The monthly subscription economy doesn’t show any signs of slowing down. People love the time and money they save, as well as the excitement of personalization and convenience.

Besides attracting and retaining customers who want these benefits, there’s a significant advantage for subscription companies: recurring revenue. Instead of a one-time payment, monthly subscription businesses collect a monthly fee (or sometimes a year of fees in exchange for a lower monthly rate) before sending out the product or service.

This revenue model provides an upfront spike in cash flow along with a longer-term outlook for stable income. Moreover, you’ll get a better sense of product volume for inventory planning and management.

There is no time like the present to start a monthly subscription business to ride the lucrative wave. Here’s how to launch:

Decide on a subscription model type.

There are three main sub-models that can frame your monthly business within the subscription model. The curation model involves creating a personalized box for customers based on interests they share when they sign up. This might include sample-size versions of products related to a hobby or lifestyle.

The replenishment model is the one I use most often. It offers a regular stream of products the customer uses. For example, Amazon offers this under the name, “Subscribe and Save,” for many food items, cleaning supplies, vitamins, and more.

The access model provides a feeling of exclusivity for customers who get products and experiences not available to anyone without a subscription. Again, let’s reference Amazon. Its Prime program gives members special discounts, offers, and products not accessible to non-Prime members.

Consider a service-oriented subscription model.

You may be wondering how to find your niche. Consider a service-oriented skill set you have that could fit this approach. For example, if you specialize in graphic design, web development, or writing, consider this model for your monthly business.

In contrast to a monthly retainer model, a service-based subscription model provides upfront revenue while giving clients the opportunity to select a pricing tier with accompanying services that fit their needs.

Proceed like any business startup.

I’ve met many a startup founder that didn’t do the basics. Make sure you conduct research, determine a market need or interest, think about what the new product looks like, scope out any competition, and establish pricing.

Create a business plan that outlines your monthly business model, marketing plans, launch timeline, budget, and profitability forecast. Explore technology that helps automate the ordering, processing, and payment aspects of your subscription. I know entrepreneurs who use SaaS companies like Zuora or Zoho here. Also, study how other subscription brands have used marketing tools and platforms to launch and grow their business.

When you are ready to share your subscription business with your audience, consider a no-obligation trial. This entices people to try it on their terms and get excited to sign up for a longer period. In addition, make sure your website or social media promotion has a transparent subscription pricing guide that describes what customers receive at each pricing tier.

Taking all these steps prior to launch can set your monthly subscription business up for success. You want to know that you can attract customers and then deliver an exceptional experience so they maintain their subscriptions and spread the word.

Offer a recurring automatic payment method.

As part of establishing a successful subscription business, it’s ideal to offer old and new customers a way to select recurring automatic payments for their monthly subscription service. They can choose where to deduct the money from — a bank account or credit card.

This model works because it saves them from having to remember to make a payment each month. Instead, they can set up a payment method and comfortably receive the service on a regular basis.

By: John Boitnott

Source: Why You Should Try a Subscription Model for Your Business (and Some Tips on How to Do It)

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For more info: http://smarturl.it/COBS-YT Could doubling or tripling your revenue this year be a reality? Are you serious about growing your business and maximizing its success? Business growth is extremely teachable and you can “Clone” success strategies and tactics as easily as it is to learn a recipe and bake a cake! The Cloning of Business Success is a one-of-a-kind, live hands on business event where you will be guided through a proven process for creating the specific blueprint to dramatically increase your revenue and profits in the next 6-12 months. I realize this is a bold claim, but the truth is, there are a few key things that (when done right), will have an immediate positive impact on your business’ revenue. I know this to be true because I’ve done it may times myself and have shown thousands of small business owners all over the world how to do it for themselves. Now, it’s your turn. For more info: http://smarturl.it/COBS-YT Subscribe To My Channel: http://www.youtube.com/subscription_c… Facebook: http://www.facebook.com/johnassarafpage http://www.facebook.com/PraxisNowLLC Twitter: http://twitter.com/johnassaraf http://twitter.com/PraxisNowLLC Website: http://www.johnassaraf.com http://www.praxisnow.com

How This Founder Learned to Trust Her Gut and Grow Her $3 Million Probiotics Company

When it comes to business, Harris would rather listen to her own instincts than to advice from well-meaning MBAs: “If they knew exactly how to do it, they’d be doing it,” she says. “We’re learning as we go, and trusting our gut has been the best lesson so far.” Here, Harris holds a symbiotic culture of bacteria and yeast–scoby for short–which ferments kombucha.
Amy Lombard

After Ashley Harris and her family began experimenting with probiotics at a doctor’s recommendation, they saw digestive issues clear up, eczema disappear, and moods improve. She wanted to help other families overcome similar ailments, so in 2015 she founded LoveBug Probiotics, a New York City-based supplements business that grew its revenue 2,621 percent in three years, and landed deals with major retailers like Target and CVS. Despite having limited business experience, here’s how she pulled from her previous career as a 19th-century European paintings​ specialist at Sotheby’s to get LoveBug started. –As told to Anna Meyer

We launched selling our products on Amazon and on our website. But those early days were tough. The space is competitive, and my startup didn’t have the kind of budget for marketing that other probiotic companies have.

With my art background, I focused on creating bold-colored packaging and tongue-in-cheek branding messages like “Feel good from the inside out” and “Yeast is a beast.” It helped us stand out among competitors that had very clinical marketing and branding. Our approach resonated with customers, and incoming positive Amazon reviews helped more and more eyes land on our page. By the end of that first year, my startup took in around $115,000 in revenue.

Amy Lombard

In 2016, my instincts and art background served me again: I traveled to Anaheim, California to an industry trade show, Natural Products Expo West, to create an over-the-top display booth with Ikea furniture and bookcases that I put together on the spot. Throwing a corporate banner over a folding table wasn’t going to cut it. Compared to the bland, run-of-the-mill corporate booths around us, we stood out and buyers from national retailers all came looking, and after hearing my story, became interested in doing business.

Fast forward three years, and by the end of 2018, I grew the brand 2,621 percent, landed deals with national retailers like Target and CVS, put product through the doors of more than 10,000 retail locations, and brought in over $3.1 million in revenue in 2018.

Courtesy Company

As a first time founder with a background in art and literature, a lot of well-meaning people with MBAs told me how I should run my business. I felt pressured to listen to them, but I learned to trust my own instincts. If they knew exactly how to do it, they’d be doing it. My team and I are learning as we go, and trusting our gut has been the best lesson so far.

In addition to growing my business, I like to experiment with fermenting probiotic-rich foods in my own kitchen. From wild yeast in a homemade bread starter that produces an insanely satisfying sourdough bread, to lacto-fermented pickled vegetables that add the needed balance to a dish, or to the yeast and grape fermentation that makes a varietal of wines–fermenting has been a joy to experiment with.

Fermentation requires balancing acidity, temperature, and time, and I’ve grown to view my business the same way. It’s not just about how fast you can scale, it’s about putting the right things in and letting it grow.

 

By: Anna Meyer

 

Source: How This Founder Learned to Trust Her Gut and Grow Her $3 Million Probiotics Company

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After the review, check out our list of the 10 Probiotic Supplements! http://www.probioticsguide.com Want to know what I think of this probiotic? This is an in depth review of Lovebug Probiotics. See what real experts and actual users have to say about this probiotic supplement! People are always asking me which probiotic is best. In this review I’ll go over everything you need to know about this one. Here’s a breakdown of what I’ll cover: First, I’ll give you my overall rating of the product based on how it compares to all the other probiotics I’ve tried. You don’t want to miss this part! Then, I’ll tell you how easy or difficult it is to use. This includes the size of the pills, the taste and what form they come in. There are so many options nowadays, so I break it down for you. Next, I talk about the ingredients and strain profile. There are many strains out there and they all target different things. At the end of my Lovebug Probiotics review I’ll go over any side effects I got while using the probiotic. These include both positive and negative things I experienced. To sum it up, if you want to learn all about this probiotic, I’d recommend checking out the full video. Here’s our list of the 10 best probiotics! http://www.probioticsguide.com/best-p…

 

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