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4 Millionaire Success Habits That Will Definitely Inspire Your Life

The road to becoming a millionaire is not through those typical infomercials that will make you believe that you will be rich by buying a distressed property and then selling it for millions of bucks. The only thing that you will likely get with them would be eye bags due to lack of sleep. In case you are one of those people who was lured on their false advertisements, you probably have more debt now.

Realistically, the best possible way to become a millionaire one day besides winning the lotto is to work for yourself. This is why most businessmen are brave to face the possible risk of failure, the emotional roller coaster and the vulnerability of the economy because there could be a pot of gold at the end of the rainbow.

To help you get started on your journey towards becoming a millionaire, we have created a rundown of regular habits that successful people normally do.

Create Choices

The average people will usually choose on the existing choices. Successful people will try to examine the existing choices, and they will then create their own choices. In case you are in a particular situation, you will often choose the best case scenario and stick with it. However, if you want to know how rich people think, you may start the habit of analyzing the best possible option and then make this choice available. This is the reason why most millionaires are doing the impossible.

Believe in Yourself

If you want to be a millionaire, you will stumble upon numerous obstacles in your journey. There are people who will disapprove, and there are those people who will criticize you. The rich people look at their opinions as a mere data. They tend to filter the data and look at the things that they can use. The rest of them will be ignored. We do not necessarily mean that you should disrespect the idea of others. We simply say that you should believe in yourself, your ideas, dedication, perseverance and abilities.

Think About how You Play the Game

In case you want to know how to be a millionaire, the way you play the game is more vital than winning or losing. Everyone wants to win. In fact, you will not be reading this if you are not determined to win. However, you should not be playing the game that you are just forced to play. You will need to alter the existing rules, create the arena and win the game on your own terms.

Hate the Comfort

There are some people who once they acquired essential skills they just work hard and stay within their comfort zone. We’re not saying that it is a bad thing; the definition of success differs from person to person. However, if you really want to be a millionaire, you should hate the contentment that is brought in by acquiring new skills. Look at this as a step towards achieving a higher skill. Achievement is a foundation towards another achievement.

Dream big and try hard, there is really no impossible thing for you to achieve. If you are determined to be a millionaire, the right amount of perseverance, dedication, and these habits will guide you on the right path.

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Six Things You Need to STOP Doing if You Want to Be Successful

Becoming successful is already a difficult feat but staying successful is far more difficult. Most entrepreneurs have some sort of idea of what it takes in order to become successful.

But what most don’t have, is an idea of what NOT to do in order to be successful. A number of entrepreneurs spend much of their lives stuck in this conundrum and as a result, suffer highly.

This article lists and explains some of the things entrepreneurs should stop doing in order to be successful.

  • Return to What Didn’t Work

This is one of the most important aspects of what shouldn’t be done for maintaining success. Once something does not work, it should be avoided at all costs in the future. There is simply no point in believing that a certain idea will work the second time when it failed the first time.

  • Change Yourself

Changing yourself in order to ensure success is not recommended. Yes, one should step out of their comfort zone to explore new avenues but this does not mean that they should change their personality and values completely. Staying true to yourself is one of the most basic principles required to be successful.

  • Change Someone Else

Change is inevitable whether it’s for yourself or someone else. However, forcing the issue is not. Changing someone and manipulating them for personal gains and advancement will only result in a loss of respect and trust from the side of the other party. Success should be done in a competitive manner but within the bounds of ethics and morals.

  • Please Everyone

One can simply not please everyone at the same time. There will be many hurdles and individuals in your path to success. Managing them and planning strategies and goals accordingly is essential you stay successful in the long term.

  • Think Short Term

In the history of successful individuals, there has been no such case where the individual thought of the short-term rather than the long-term. It is simply not possible to achieve and sustain success if one constantly thinks about the short term and avoids strategies and planning required to sustain success over a longer period of time. Thinking short-term will only get you so far but looking over the horizon and smarter than your competitors will not only result in personal satisfaction but also financial gain.

  • Look at the Smaller Picture

Highly successful entrepreneurs always devise strategies by looking at the bigger picture. They always have a backup plan or contingency measures that will be implemented if an unfortunate situation or event arises. This ensures success is not short-lived and any potentially threatening scenario does not prove to be catastrophic.

All in all, keeping in mind all of these factors can enable an individual to come back from a debilitating failure. What is needed is an optimistic frame of mind and the will to be better than your previous self.

Photo Credit: Andrea Piacquadio

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5 Small Business Success Tips For Emerging Young Entrepreneurs

Establishing a company might be one of the hardest things that a young entrepreneur could ever do. And starting your business might also be a door to financial freedom however if it doesn’t work out based on your plans it might as well ruin personal finances.

As you build a business, it would be of great importance to have a smart plan to make sure that your personal wealth is being protected. Here are some tips that can help you when it comes to protecting personal finances due to business risks:

Put your eggs in many different baskets

There is a need for you to be prepared for every different situation therefore you should never invest all your money in your business. Allocate your money in different places like in assets, investment, cash, and emergency cash cushion. This emergency cash cushion would be needed for you to fall back on once you need it. Once bad things happen, you would already have money set aside to keep you afloat in tough times.

Hope only for the best and plan for the worst.

Once you are in the world of business, there is a need to hope for the best and plan for the worst. There is a need for you to be optimistic however when shits occur you just have to be prepared. Avoid taking all your money out of cheque accounts to fund all the operational business costs. So that even though one of your businesses fail, you will have other sources of income to continue the business.

You must consider separating your business and personal expenses

This is indeed a must once you are starting a business. With regards to tax reporting, the business expenses are simply deductible from the business income. And also the more deductions that you would have the lesser tax that you are to pay. Just simply open a separate bank account for the business and personal finances.

Learn to manage your cash flow

Running out of cash is one of the reasons why a company fails. Cash flow is considered as a king and so the queen is the documentation. The first financial planning lesson that you must consider once running a company is to have a manageable cash flow. You will be at risk if you don’t know where your money will go and comes from. Just simply create your budget and then stick to it.

Ask for help

Being new as an entrepreneur, you must not forget to track the business expenses and keeping the documentation as well. It would be very important to consider a simple accounting system in order to record as well as track the spending every month for you not to scramble for the information once you need it. Or you might as well use free financial tools once you don’t have the budget in investing in an accounting software. Freelance bookkeeper might be of great help as well.

Those are just some among the best tips about finances that you might consider once you are starting up with your business.

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Entrepreneur Spotlight: Get To Know Eric Siu, The Founder Of Content Intelligence Software ClickFlow

Eric Siu is the founder of content intelligence software ClickFlow. He is also the Chairman of ad agency Single Grain and has worked with companies such as Amazon, Airbnb, Salesforce, and Uber to acquire more customers. He hosts two podcasts: “Marketing School with Neil Patel” and “Leveling Up”, which combined have over 43 million downloads to date. He also speaks frequently around the world on marketing and SaaS. In his youth, Eric was not academically or socially successful, but he was a serious high-level eSports and poker player. He ultimately found how to convert his focus and success in gaming into a very successful career in marketing. He also contributes to Entrepreneur Magazine, Business Insider, Forbes, Fast Company, Time magazine, and more.

Global Millionaire Magazine recently caught up with Eric and here’s what went down:

Could you please tell our readers a brief background about yourself and how you started your business?  

Sure, my name is Eric Siu and I’m an entrepreneur who helps other businesses grow. I have a marketing agency that has served companies like Amazon, Nordstrom, Salesforce, and Uber. I also run a marketing analytics company called ClickFlow.

But before all the business-y stuff, I was a hardcore gamer. I actually spent most of my youth playing World of Warcraft, EverQuest, Defense of the Ancients, Counter-Strike, Quake, Team Fortress, Warcraft III, Diablo, you name it.

My biggest challenge was always that I accomplished much more in games than I did in real life. I had to log off, In games, I won championships, played with the best teams, and accomplished really difficult goals. Not so much in real life. I was constantly written off and had little confidence in myself.

It was only when I figured out how to apply gaming concepts to real-life did things start to transform for the better. That’s why I wrote Leveling Up, to teach others how to do the same.

When did your entrepreneurial flair first reveal itself?

Back when I was still hardcore gaming. I picked up a lot of the foundational habits and skills I wound up using in business. When I think back to why I was able to win gaming championships despite the odds, it was because of consistent, hard, painstaking work. There’s no way I could have gotten there without progressing methodically and patiently.

I actually have a sense of pride when I think back to my gaming days because these accomplishments provided me with foundational confidence that allowed me to eventually succeed in real life and business. 

Thanks to that confidence, I was able to parlay my gaming experience into resurrecting two companies, taking over one, starting a software company, speaking internationally, hosting two podcasts with over thirty million listens (Marketing School and Leveling Up), hosting a reality video series (also called Leveling Up), and guest lecturing at universities on entrepreneurship and marketing.

How did your life look like before being an entrepreneur?

So actually growing up, I was a disappointment in the eyes of my parents. I never cared much for school and I was terrible at sports. In fact, I was almost always chosen last when it came to pickup games. School never made much sense to me because having to wake up, report to someone, and obey a regime based on what others thought I should learn didn’t sit well with me. I wanted to do things on my own terms.

I was always late to catch on to things. I’d always be chosen last for pickup basketball games. I was at the bottom of the food chain when I joined the high school drumline. I was picked on frequently because I was smaller and shy. I was told to “be cool” or to “stop trying to fit in.” I always had trouble summoning up the courage to ask out girls. In fact, I didn’t have my first real girlfriend until I was twenty-six. 

“You’re just not good enough to do that stuff,” I would constantly tell myself. I had an enormous chip on my shoulder growing up and was hell-bent on proving all the naysayers wrong. I tried all kinds of ways, but I just continued to fail over and over. People laughed at me and underestimated me, but I always had my escape: the world of gaming.

And now I play the game of business.

As an entrepreneur, what is it that motivates and drives you?

Honestly, my passion for entrepreneurship is driven mostly because I love it. I love the game of business. Every day I wake up and I’m excited about what I have planned, that’s why I see life as the ultimate game. 

In one word, describe your life as an entrepreneur and explain why.

Vision. With everything I do, I always think of the third and fourth-order consequences. I think being a successful entrepreneur is having a long-term vision, that’s something I try to live out and instill in all my employees. 

What were your top three motivations for starting your business?

Need – I overleveraged myself and had to make it work. 

Passion – I love marketing, SEO, PPC, you name it so starting Single Grain was a perfect fit.

Freedom – I was never a good 9 to 5 employee so I knew I had to start my own business someday.

What would you say are the key elements for starting and running a successful business?

There has to be a good product or service market fit. Otherwise, you’re going to be spinning your wheels for long and you might not know why. Next, make sure you’re thinking about the customer and product first. If you’re making decisions to improve your customers’ experience they will reward you with long-term business and referrals. Finally, I think entrepreneurs need to be willing to stomach some risk. Everything is not perfectly laid out step-by-step like being an employee, there will always be some risk involved, but not as much as what people might think.

What are the three biggest challenges you have faced growing the business and how did you overcome them?

So when I bought Single Grain for $2 and then turned it around there were a lot of challenges on my mind. For one, I was trying to do everything on my own. That’s a recipe for disaster and I quickly learned the importance of outsourcing. Second, I didn’t hire the right people at first. I made sure to level up my hiring processes to fix our talent pool. Third, was just struggling for many years to get the word out about my business and brand. The best way to overcome this last challenge is just perseverance. 

What form of marketing has worked well for your business throughout the years?

We’ve always thought of SEO as our specialty, even ranking #1 at times for Digital Marketing Agency and Los Angeles local terms. We put a heavy emphasis on creating quality content consistently, having a content machine works for us and gets us inbound leads.

As you grew the business, what have been some of the most important leadership lessons you have learned?

I’ve learned that the best quality for a leader to have is selflessness and clearly defining the core values you want your team to uphold. For example, our core values here at Single Grain are growth, long-term vision, integrity, accountability, creativity, and tenacity. We make sure we don’t hire anyone that doesn’t fit this vision and it keeps our mission in alignment. 

What is the best advice you have ever been given?

Done is better than perfect.

What advice would you give to a newbie Entrepreneur setting up their first business?

I’d say don’t put the cart before the horse. I see a lot of new entrepreneurs go out and try and sell ‘courses on how to run an agency’ without ever running an agency. Make sure you take things one step at a time and always think long-term.

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How to Increase Social Media Engagement: A 5-Step Guide For Entrepreneurs

Is your social media page not kicking off the way you’d hoped? Perhaps you wish to share your knowledge with others, or you want to start a career with social media, but you’re not getting enough engagement. Although making an account may seem easy, there are certain things that you need to look out for so that you catch your audience’s eye. Publicity plays a large part in what makes a social media page successful and so you need to do it right. Therefore, here are 5 steps you need to take in order to improve your social media engagement.

1. Have a good layout

Graphic design is the very starting point of gaining engagement. Be sure to give your social media page a clean look that is welcoming to your target audience. Keeping the right fonts, having a consistent colour scheme, and spacing things out helps a lot when it comes to attracting others. Organising things so that your content is both chronological and flows well motivates people to pay attention to what you have to say.

2. Advertisement

Finding ways to promote your social media page in other places such as other sites is a good way to gain engagement. People are more inclined to associate with things they are more familiar with and if they have seen an advertisement about your page somewhere else, they would be driven to see what you offer. Also, it increases your page’s chances of getting noticed among a countless number of others, as your page would then be what comes to mind first because they’ve seen it before.

3. Listen to others when it comes to improvement

When someone has an idea on how to improve your social media page, take it into consideration. It shows that you’re willing to respond to people’s constructive criticism, which will then lead them to respond to you, thus increasing engagement. It shows that you are within reach and that they can level with you, which is rare for sites and pages nowadays. This means more people will interact with you as they feel they can without being pushed to the side.

4. Hold events that the audience can take part in

Putting up an event that others gain from is a fast-track to increase your engagement. Occasions such as conditional giveaways and competitions are very appealing to those who are looking for something to gain. Announcing something that the audience can compete for, be it an actual item or a chance to be promoted on your page, piques the interest of many as they have a chance of winning.

5. Introduce something with a limit

You could put on a one-time-only sale or introduce a product or theme that will only be up for a short time. This gives people the impression that they must go to your page and get whatever it is you have introduced before the deadline. This is because they have the fear that they’d miss out as once something is gone, it’s gone.

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An Essential Guide To Managing Your Remote Team

A little over a year into the pandemic, most professionals have more or less gotten a hang of how to make remote working work for them. In fact, one particular study published by the Harvard Business Review notes that knowledge workers became more productive after the lockdown helped them focus on tasks that really matter and required them to take responsibility for their own schedule. But even then, it can’t be denied that there’s still a lot of things business leaders can do to improve remote work from a management perspective. That being said, here are some tips on how you can better manage your remote teams.

Be smart about meetings

Meetings these days happen on different video conferencing platforms like Zoom, Google Meet, and many more. And while video chats have become an indispensable tool in keeping teams connected, the truth of the matter is they can be pretty tiring and draining most of the time. To alleviate ‘Zoom fatigue’, what business leaders can do is ensure that meetings are short, sweet, and focused. Thrive Global recommends putting a 30-minute cap on meetings to keep them meaningful and productive.

It would also be a good idea for you to have a set agenda, meeting guidelines, and a simple timetable for every matter that has to be discussed. When it comes to less formal meetings and virtual social events that are meant to help employees deal with self-isolation, make sure to keep them open, but not obligatory. If, for example, you are working with an introverted employee, you can ease their anxiety by making phone calls and emails an option alongside video calls.

Pay attention to your team’s financial wellbeing

Employee financial stress has doubled since the pandemic began. In a survey conducted by John Hancock Retirement, the percentage of individuals reporting high levels of financial stress more than doubled from 11% pre-pandemic to 27% since the onset of the crisis. Aside from providing support packages and giving out cash bonuses for good, what business leaders can do is provide financial literacy workshops and budgeting advice.

Surprisingly, CNBC claims that 40% of Americans don’t actually know how credit works and a lot of people may find themselves relying on credit cards in dire financial times. Petal explains how your credit score relies on how much of your credit you use in relation to your total credit limit. This can be helpful when it comes to getting approved for a loan or credit card. By helping your team build healthy spending habits, they’re more likely to be more empowered and driven in the long run.

Manage expectations

During this period of time, it helps to have realistic expectations of what can be achieved by your team. Inc. explains how clearly defining the scope of work, deadlines, and deliverables for each part of a project can help keep individual members focused. To avoid frustration on both sides, try to avoid micromanaging each member’s actions and allow them to work independently. As highlighted in our post ‘3 Ways to Keep Your Business Alive and Thriving’, it would also be good for entrepreneurs to listen to their team’s suggestions and insights about how they can be better managed.

Instead of prioritizing the number of hours worked and overall activity, keep an eye on the outcomes of their assigned tasks, so you can adjust if necessary. Try to keep communication lines clear, and encourage your remote team to ask questions that will give them access to any feedback that they need. Being culturally sensitive and using concise language can also help you clarify any complex details and ensure that everyone’s on the same page.

Overall, remote working is here to stay. To fully harness the multiple benefits it entails, you have to learn how to be smart about meetings, pay attention to your team’s financial wellbeing, and set aside some time to properly manage expectations.

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5 Surefire Ways For Entrepreneurs To Stay Visible During the Pandemic

Starting out as an entrepreneur can be challenging, and with the current limitation toward social gatherings such as conferences, it’s even more challenging. As an entrepreneur, you have to be your own marketing department, PR team, and provide the product. Entrepreneurs should seek alternative ways to stay visible during the pandemic with the lockdown entering into its second year and a considerable skepticism toward physical meetups. In this article, we’ve suggested five ways to stay visible during the pandemic.

  1. Virtual appearances

What seemed strange only a year ago is the new normal for many. Conferences, meetings, and other work-related interactions have moved away from conference halls or meeting rooms into digitals spaces such as Zoom and Teams. Many companies and organizations have started offering digital conferences to stay engaged with their audience or clients, which provides a tremendous new opportunity for entrepreneurs to market themself.

Set out to make a list of companies that could be interested in hosting you on their virtual conference, reach out, and offer to hold a talk, Q&A, Webinar, or Livestream for their audience. This way, you can provide value to someone else in this challenging time and simultaneously expand your network.

  1. Be your own PR agency

Put your knowledge to use by pitching yourself to traditional media. Maybe the local newspaper would run a story on entrepreneurial struggles during the pandemic? Or your local TV station is looking for interview subjects for a case their running? Start out by offering your services as a source. You’ll help someone else in their job and gain free publicity in the process. Sign up for HARO (Help a reporter out), a free tool used by journalists to access sources and a great way to gain some publicity.

  1. Be the connector

Most are in the same situation during the lockdown. Home office or remote working has people feeling isolated and lonely. This can offer a great way to increase your network. Everyone is looking for a way to connect with people through new methods, reach out to your network, and be the connector. Check-in with your network and listen to what they are struggling with during the lockdown. Offer ways for people to connect, collaborate, or brainstorm new ideas. You’ll not only build a massive network but also stack up on some good karma.

  1. Seek out new ways to interact with your following

One of the main ways we market ourselves is through social media platforms like Facebook, Twitter, Snapchat, and Instagram. While these are frequently used for publishing content, they also offer great new ways to interact with your audience through live streams or webinars. What better time to go live than now that everyone is stuck in front of their computers? Try out new ways to interact with your following. Maybe live streams can turn out to be a vital part of your content schedule in the future!

  1. Help companies in the digitalization process

Entrepreneurs and startups often lead the way in digitalization. Use this as a marketing point and create content to help others adjust to a digital environment. Something that might be an everyday activity for you might be a huge adjustment for someone else. Put that experience into action and get marketing value for your brand at the same time.

The Bottom Line

Entrepreneurs need to be flexible and adjust when conditions change. While many might see it as a challenge, these adjustments also provide great opportunities to grow and expand in new ways.

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5 Demand Generation Best Practices to Boost Your Brand’s Awareness

Building a long-term relationship with your customers is as tough as keeping your product in demand. We are all aware that the industry trends come and go so as an entrepreneur so you need to be able to sustain this rapid change.

To be successful in your chosen field, you have to maintain your brand awareness no matter how many large competitors come your way. Following these five practices will help you sustain the challenge and succeed in the long run.

Be consistent in proper communication with your customers

Always be attentive to your customers. As soon as your customers start to express their thoughts about your business, you need to respond as soon as you can so that your customers can feel that their concerns are being heard. This will help you produce the right product that your customers need. A customer will feel happy and satisfied whenever he/she receives the exact product he/she ordered and it arrives without a delay. Especially when the order is packed neatly and every piece is in good condition. This will urge him/her to reorder again and refer you to his/her friends and family.

Provide exceptional customer service

Handling a simple customer query can greatly affect your customer’s decision to buy your product. Aside from this fact, doing an extra mile for the customer will also let him/her feel they are truly valued. To ensure the order arrives correctly, make sure you keep in touch with your customers so you can also check if they encounter any problems associated with their order.

By doing this, you can provide an effective resolution in the early stages. Providing good customer service is a continuous process because your customers may change their minds instantly if you are not able to meet their expectations before, during, and after your transaction.

Be innovative and creative

Both of these qualities can produce a brand that is always tempting to the eyes and attracts the attention of your buyers. Millennials are always looking for new things. From the product you first use at your startup, never be afraid to perform an experiment so you can discover new things to improve your brand. You can always use the same product because you have already built your reputation with that one. You just need to be creative to enhance it so it continues to stand out among other trends.

Learn new sales strategies

Offering tempting promotions can be one of the best sales strategies you can incorporate into your business. This is the traditional way most entrepreneurs are still using because it is proven to be effective. Just make sure the discounts you offer will still generate an income though. You can also use other marketing channels to get better results and maintain your status in the industry.

Create sales metrics

A sales report can help you evaluate the aspects of your product which still requires your effort and attention. This is a smarter method to help you analyze if your sales strategy is effective or not. Your sales metrics also allow you to determine the marketing channel which contributes more to your revenue and which one should be eliminated if it is not working effectively. This is also helpful when you have other sales plans to promote additional income for the company.

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How To Manage Your Wellbeing During A Pandemic

The world has certainly been turned upside down over the last couple of months. These unprecedented times have tested people and the impact of the pandemic will be seen for a long time. This has, however, given people a good opportunity to get to grips with their physical and mental wellness. If you are someone who exercises regularly then you will understand how important it is to a human being’s stability. Our emotional status is often very closely linked with our physical state.

Think about it, if you have a stressful day at work it is compounded by any physical ailment you may be experiencing. Stress is exponentially increased when we are out of balance with our bodies and the current situation has led to a lot of stress going around. We need to make sure that we are keeping tabs on our physical and mental well-being. This article will give you 5 tips to maintaining yourself during a pandemic and hopefully teach you to deal with stress a lot easier.

Here are 5 steps to get you going throughout the day:

Step 1: Wake up and make your bed.

Step 2: Eat a well-balanced breakfast.

Step 3: Take a moment to plan your day (without using your phone or technology).

Step 4: Pick a time to put on your exercise shoes and do it.

Step 5: Put on your shoes.

You do not have to be lifting weight or going for 2 hour runs every day. Simple exercises with simple movements can have a massive impact on your health and mental state. A good rule of thumb is that you should aim for half an hour of exercise every day. Regular exercise has proven to increase your brains ability to process serotonin and norepinephrine. These are the hormones in your brain that manage your ability to deal with stress. Simple exercise and getting the blood flowing can have a tremendous impact on your mood and stress levels. Another vital impact of exercise is that it will give you more energy. It may seem like a contradiction but the more energy you use, the more you actually have. If you spend all day on the couch your body will become accustomed to that lifestyle and you will find it harder and harder to get up and get going. During a pandemic, it is absolutely crucial that you keep your energy levels up because it is hard enough to deal with lockdown in a normal state, doing it while feeling tired and lethargic is much harder. Give yourself the boost you need by training your body and your mind.

Maintaining a healthy mindset is so important at this time. Everyone is dealing with the pandemic in different ways and you will find that those who are able to cope with the hardships are probably those people who have regular exercise routines. Taking care of your body creates a positive atmosphere and you will find that your mental state improves with each day that you spend on the go. You do not have to become a world-class athlete; you just need to get your body moving. Even a simple walk around the block can have massive effects on your well-being.

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5 Tips For Recognising A Golden Business Opportunity

When you consider the statistics, including that only 2/3rds of business startups will survive 2 years in business, it makes the idea of starting your own business a little scarier. 30% of businesses will continually lose money, and that’s assuming that they have a stellar business idea, to begin with. However, your chances of success will be significantly improved if you have a golden business idea. Here are 5 tips that can help you see if you have a golden business idea in your hands.

1. Your idea can solve a problem

It doesn’t matter if your idea isn’t a new one; what matters is if it’s an innovative one. Every industry has their own flaws, but if you can solve a major problem that a particular niche has you will be more likely to succeed. Maybe you have figured out a way to be more efficient? Or maybe you found a way to offer those services for cheaper? By finding a solution to some weakness the industry has, you may have a great business idea in your hand.

2. You have an idea that people are willing to pay for

Ideas are one thing, but ideas that people are willing to pay you money for is another. If you have an innovative idea that can propel you to be the first business in that niche in the area, you need to be sure that you are starting a business people are willing to pay for. Any idea can sound great, but if you can’t convince a customer to buy it, then the idea isn’t obviously a good one.

3. There’s a niche market for your idea

If there isn’t a niche market that will be interested in your idea, you won’t even be able to get started on launching your business. If there is a market for your idea, then you will be in good shape as you launch your business, especially if you can solve a specific problem that niche is facing. To determine if there is a market for your idea, you need to do some market research that looks at the industry trends to find out if people are interested in your idea.

4. You’re passionate about your idea

Starting a business is time-consuming and stressful. There are a lot of things that you may need to overcome in the business to keep it going. If you don’t have any passion for your business idea, then you won’t be successful it’s plain and simple. Your passion will make sure that you dedicate the time that your business requires to succeed. This passion is what will help you keep moving forward even as obstacles stand in your way. You shouldn’t just pick something just because it will be profitable, otherwise, you won’t have any reason to stick with the idea when you face obstacles.

5. Staying realistic

Being an entrepreneur is about thinking big and following your dreams. However, you also need to be realistic. You need to stay grounded so that you can see any flaws in your plan. Maybe it isn’t as marketable as you think it would be. Staying realistic will keep you open to advice that will help you succeed or know if your idea isn’t really as great as you think it is.

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5 Secrets Of Building A Successful Brand

Today, there are millions of brands out there scampering for a piece of the customer’s mind. A branding exercise can be called a success if it can invoke a certain emotional response when mentioned in a room full of people. But it is also so easy to get lost in the ocean when building a brand. So how do your consumers identify you in comparison to your competitors?

That’s your brand. Rolex and Daniel Wellington, both sell watches, but what sets them apart is the way they choose to communicate their attributes and merits to their respective segments.

And of course, a ‘product’ is not just defined by its attributes but also on how consumers perceive it. How a healthy snack is packaged can set it apart from a fried wafer. The colours on the design and materials used on the packaging can be just as relevant to building perception as the product itself.

Getting started

Imagine you’re building a Bed and Breakfast business. Setting up a brand would require conjuring up images of convenience on the premise as well as on the website, friendly service, and a range of breakfast options, which comes with any BnB service and sharing the vision with your target customers every time they look up a similar service.

When coming up with a branding exercise it would be pertinent to consider the pointers listed below:

Let you brand colour talk

There is no stronger communication method than the right colour for your brand when it comes to driving recall. According to a report by the Seoul International Color Expo, 92.6% of consumers responded saying that the visual aspect is what makes them think of a particular brand.

Too much red on the cover and consumers would know that the product deals in and with passion. White could signify peace and purity like the Unilever soap brand ‘Dove’ whereas green would mean eco-friendly and organic nature of the brands like ‘Whole Foods’.

Digital presence

In the era we currently live in, consumers always want an open channel to engage with the brand. Make sure your digital presence is consistent with your brand image. The colours and the overall look and feel of the website should convey the same message as the brand. The same goes for social media. The offers, campaigns, or any other engagement should be planned to keep the brands’ core theme in mind.

Build a strong brand personality

A brand is more than just a product. It is a state of mind and it should be visible in its personality. When husband and wife duo, Jin Suk and Do Won Chang started Forever21, they built a youthful and vibrant brand for the young who aspired to look as fashionable as a luxury brand like Zara at a fraction of their cost.

Superiority and Longevity

The true purpose of branding is to become at the top of the mind recall for your customer. This can be achieved when your product or service is seen as superior to its competitors. Superior does not mean the best but consumers need to ‘perceive’ them as such.

Also, if consumers are convinced that you are going to be there for a long time, they start looking at you as a brand.

This has nothing to do with the quality or customer service but the emotional response that you can invoke within people’s minds.

Find your Influencer

In this exponentially growing digital world, Influencers are a recent breed that has amassed a following of internet users. People listen to what they have to say and believe in them. An influencer can reliably take your message to your target audience and create a perception in your favor. The best part is that the cost and time required is relatively lower than traditional marketing techniques.

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Five Inspirational Movies Every Entrepreneur Should Watch And Why

Let’s face it; who doesn’t love watching inspirational stories right? And what better story is there than a story about someone facing the struggles of trying to succeed in business and in life? There are actually several significant lessons entrepreneurs can learn from Hollywood’s version of entrepreneurship as displayed in these movies and below are five movies every entrepreneur should definitely watch because all of them have important lessons especially for budding entrepreneurs:

The Pursuit of Happyness

Besides being an iconic and inspirational real-life tale that will have an effect on most people, it is especially relevant for those in pursuit of their own dreams.

It’s about investing in your life and never giving up for the want of a better life.

Some of the real-life lessons you can gain from this movie include:

– Hitting rock bottom; things may become worse before they get better; the road to success and the road to failure are almost exactly the same.
– Don’t be afraid to aim high even if the odds are stacked against you.
– Work for it as if your life depended on it. Success comes with working incredibly hard.
– Increase your chances of success by not wasting time and using your resources wisely.
– Get back up whenever you get knocked down.
– Don’t let people’s opinions stop you, even if you are constantly put down by others.
– Show no weakness in business.

These further 4 movies will inspire and teach other valuable lessons in life and business. Whatever stage you are at – there’s a lot you can learn from these entrepreneurial-minded show-stoppers.

The Godfather (Trilogy):

Possibly the ultimate feature film for entrepreneurs to watch. Not just thrilling and thought-provoking but it also prepares you for the business world. It highlights why relationships and networks matter as well as alliances, why helping people leads to good business and why understanding the competition and competitive up with effective strategies is the key to success.

Erin Brockovich

Based on a true story that beautifully illustrates why it’s not about how much you have at the start, you can eventually win in the end just by sheer guts, grit, and determination. The movie also touches on social responsibility and doing good when the odds are stacked against you, sustainable business models, and female empowerment and gender biases in the business world.

Catch Me If You Can

A classic film, it’s based on real events that personify a person’s entrepreneurial journey. This movie touches on important skills like creative problem solving, business vision, sales techniques, how something good can come out of something bad, the skill and mastery of good old-fashioned hustle, and how charisma can actually help you succeed in life. The lead character may not be an exemplary example of how to go about being the model entrepreneur but it certainly makes for resourceful watching!

Jerry Maguire

Jerry Maguire is a classic movie that everyone loves and some of the most important take-aways from this movie are:

– When you are following your dream, everything else will fall into place,
– Take care of your clients and the money will take care of itself and not the other way around.
– You can succeed again after losing everything. And the journey will be worth it.
– Values and virtues are important building blocks of business.
– Personal relationships are vital.

To conclude, whether you’re an established entrepreneur or an emerging one and you’re looking for something to lift your spirits up and give you more drive than watch these films with a vengeance and take notes.

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3 Ways To Keep Your Business Alive And Thriving Despite The Rising Competitions

Change is permanent in the industry and so are competitors. They are both associated with challenges, risks, and sometimes, failure. But fear not, if you can actually treat them as an opportunity to make your business grow and stand out. Surviving these dominating factors of the market will give you strength and flexibility whenever the worst things may happen. This will also help you get prepared if you are planning for a bigger business venture in the near future.

Through your constant engagement with your team, partners, and customers, you can consistently grow your business with focus. Competitors can be a distraction if you keep on focusing on what they can do – Why not focus on the bigger things you can do instead?

Even larger corporations have shortcomings and most commonly, some fail to provide the basic necessity of the customers. You can fulfill these shortcomings by starting on the very small thing that may lead you to the heart of your customers and that is customer service.

Green innovation

A continuous and green innovation can also be one of the keys which may help you throughout the business operation. Green innovation promotes environmentally friendly manufacturing process to prevent the harmful effects of pollution. This is also a cost-effective way to create your products and save energy to cut some manufacturing costs. Doing this strategy makes you a true leader and not just a business owner.

Build a brand of your own

You do not have to imitate what others produce. Use your product not just to gain profit but to influence your customer’s lives as well. Your influence will instantly connect you to them. If you are to use an advertisement for example, make sure the characters on the screen are not just compelling and attractive, but they should also emphasize a meaningful message. In this way, people will be aware of your own brand identity.

Collaborate with your team

Collaboration with your team will also ensure a good working environment. Accept feedback and learn to listen to your team’s suggestions. You may have talented employees who may have better ideas which can be helpful for your business. Collaborating with your team will lead to smooth-sailing business transactions and loyalty.

Build customer retention

Acquiring new customers is as important as retaining the old ones. You have already built the trust of your old customers so make sure to maintain this relationship. Remember, the word of mouth is also powerful. Therefore, ensure to keep your loyal customers because they can also contribute to additional sales revenue.

They can refer your company to other people who are also looking the same service you offer. It’s pretty much hitting two birds with one stone. You can maintain a long-term relationship with your customers while effortlessly adding new potential buyers.

Doing all these essential things will definitely keep your customers returning to you. You have also shown that being an entrepreneur is not just aboug making money for a living. You will serve as a leader because of your strong emotional engagement with the people around you while you maintain a safe and healthy environment.

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3 Deadly Oversights That Lead to a Lifetime of Debt

A lifetime of debt is certainly not something someone plans for. People go to work 8 hours or even more than 8 hours a day just to get financial security. Well, that’s probably what you’re thinking.
Some people go to work every day not to save up for the future but to actually pay off the debts of the past. And what’s worse is that it’s never going to be enough. They could work their whole life and still not be able to pay back the capital. That’s what you call a lifetime of debt.

Sounds terrible right? Yet, people easily get into this rat hole. Nobody forces them in! They walk directly, sometimes, they even run right to it. Note, with open arms! Now, who would want to run into a lifetime of debt? Nobody does but everybody does it! Such an irony.

However we enter that rat hole of lifetime debt, it’s still the same, we did and most of the time, it is always by our own doing. We enter into this “debt”-hole on our own. In fact, you could be walking directly into that rat hole right now!

Getting into Instant Money Schemes

How terrific it would be if, with one snap of your finger, you would be instantly rich. How amazing it would be to wake up and everything has changed. That’s really quite tempting. There are times that we get tired of waking up every morning, working 8 hours a day, 5 days a week, and getting just enough salary to make us survive for the month.

Sometimes, we just want to escape that reality. There are lots of instant-money schemes today where you would need to invest money and they will promise you that it will double or triple. Because of the idea, you instantly jump into the boat bringing all your savings with you.

What’s worse is that you don’t even know where the boat is heading. In a matter of seconds, you find the boat sinking and all your money going with it. Getting into instant money schemes is the best way to get into debt. You invest all that you have only to find it eventually gone.

Getting a Payday Loan

Now, this is a common scenario with many people. People have been warned about these easy-to-get payday loans. Still, people are patronizing it. In fact, more than 2 million people get payday loans every year.

What’s dangerous about these payday loans is that they have really high, I mean really high, interest rates! Plus, they get access to your bank accounts. What’s even worse, they are so easy to renew. When your payday comes and you don’t want a chunk of money removed from your account, you renew the loan and the cycle of debt begins.

Getting Things You can’t Afford

Sounds familiar? Maybe because you’re doing it right now. Trying to buy a house, a car or expensive things you think you need but still can’t afford? Well, that will surely get you to a lifetime of debt. The money paid for these things, plus all the taxes and other payments are more than what people can actually produce in a month.

The temporary solution, borrow, borrow, and borrow! That’s a lifetime of debt right there coming for you. You might have noticed by now that the easiest way to get into a lifetime of debt is wanting to get things easy and fast. Remember, if you want to avoid a lifetime of debt, plan ahead and practice self-discipline!

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5 Highly Effective Success Tips For Entrepreneurs

Do you truly want to know how to be rich and successful in life? If so, then you need to be ready to change your daily routine. It goes without saying that even the slightest detail may determine whether you’ll succeed in life or not. There is a massive competition out there, and hence you must be prepared to do whatever it takes to stand out from the rest.

So what does it take to be a successful entrepreneur? Well, the answer is not simple. There are several steps you need to take to make sure that you achieve the success you are entitled to. Below are some of the essential tips that will help you in your path. These tips will help you grow your revenue and eventually reach the pinnacle of success.

Use your strongest points

First of all, you need to make use of your strongest points so you’ll thrive in business. It is true that we all have our weaknesses, but what you need to concentrate on are your strengths. What are you really great at? This is where you need to focus on, in order for you to become successful in your chosen field.

Adapt to new technology

Another thing you must incorporate in your entrepreneurial life is the use of technology in business. With the latest advancements in technology, there is a whole new world out there that can help you go up to the next level in your business. A whole world filled with opportunities for you to grab and take full advantage of.

Invest

If you want to become successful one day, then you must be ready to invest prudently. Find opportunities that require minimal risk and maximum profit margin. There are a lot of options for you out there if you simply analyze the dangers and separate the wheat from the chaff.

Be vigilant

Once you have found opportunities to invest, you need to be cautious and assess the dangers in what you’re entering. You should not rush into just any investment which might eventually be proven fragile. Instead, you ought to weigh all the pros and cons until you reach your decision as to the most viable investment opportunity.

Be bold

Do not be afraid to make a statement and be innovative. Do things your way, so that you can benefit from the outcome. If you are really certain about something, do your due diligence then go ahead and show the world what you are made of!

Keeping these things in mind can definitely help you spread your wings and reach your goals. If you implement these tips in your daily routine, you will be a successful entrepreneur before you know it!

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4 Common-Sense Ways To Shrink Your Credit Card Payment

An average person usually falls into the trap of having a bad financial status with credit cards because of unpaid monthly dues. And once you have fallen into the ploy, it is already hard to recuperate especially in the kind of economic status that we currently have. We end up paying the ever-increasing finance charges that make the bulk of our debt.

Our credit card, monthly payments can only go one way…and that is up unless we do something to address the ever-increasing debt balance. Every unpaid monthly balance would pile up in the form of finance charges that would yield to a higher interest rate being charged on our credit card accounts. And, if this cycle goes on and on, we will just wake up one day realizing that we can no longer pay all credit card dues and we’re stuck in a deep dark hole. The good news is, there are ways and means on how we can lower down our credit card payments, and here they are below.

The first thing we can do is make monthly payments that are significantly higher than the balance. If we can do this regularly for consecutive months, then, our credit card payments will definitely drop down.

Not only must we pay more than what is required from us; we should also pay on time to further cut the finance charges associated with late payments. Furthermore, we must control our urge to use our credit card for so long as there is still an outstanding balance that needs to be paid off.

Another equally wise alternative course of action if we are already caught with sky-scraping credit card payments is to tap the services of our credit card counseling organization. Apparently, major credit cards offer this kind of service to address the issues of delinquent payers. They participate in debt management programs that aim in lowering down the monthly payments and reducing the interest rates of clients enrolled in this program. It is to be noted though that our eligibility to participate in this program would depend on our relationship and standing with our creditors. The people behind the card counseling organization are ready to help people who demonstrate financial distress especially in dealing with the payments of their credit card balance.

Another good thing with the credit card counseling organization is the fact that credit counselors will provide a projection of what your monthly payment would be; consequently, they will help you come up with a workable budget that will make you pay off your monthly credit card balance and at the same time address all your daily expenditures. Furthermore, they will also tell you the amount of interest savings that you will be able to earn while on the program.
It is to be noted that the coverage of credit counseling organizations to lower down your interest rate will solely depend on the status of your account. Apparently, they prefer current accounts; however, they can still give a remedy to late payments through the wide range of re-aging benefits that they offer through the debt management program.

It is important to take action before our accounts get to be charged-off and referred to debt collection agencies because by then, it will already be too late because they don’t have programs that offer benefits just like the credit counseling organization and debt management program. You’ll just end u sinking even further in a black hole.

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5 Ways To Boost Facebook Posts Via Organic Reach

If you want to boost your content reach over Facebook and the engagement on your posts, this article is just the thing for you! Below are simple ways listed that will encourage the growth of unpaid reach, either in small steps or a large whole, depending on your circumstances!

First questions first!

But why is the level of organic reach so little?

The reason is simple and divided into two!

  • The competition has increased significantly over the years and there is a lot of content shared by Facebook users. Alike content tends to get overshadowed.
  • The algorithm has evolved as well. Facebook filters out posts dependent upon the quality of the posts. It prefers the paid reach over the non-paid too!

So, in light of these circumstances, how does one increase the organic reach? What are the tactics and strategies to use?

How to boost up your organic reach?

  • Posting when its off-peak hours:

Using the Facebook insights, posting your content when more audience is online seems like the most reasonable option. But in reality, there is a lot of competition in the on-peak hours and the battle is at its best. Most posts get overshadowed and the most liked by the majority receives all the attention. But in off-peak hours, with lesser storming of the News feed, your posts will receive more attention. And when a post hits a certain engagement mark, Facebook promotes it for free! So, find out your best timings to post from your insights.

  • Embedding your links to other places:

Another simple way to boost your posts is by embedding your content on places apart from Facebook. Place your links on your blogs or channels, perhaps your newsletter too. This not only encourages the people to like, comment and share but also to check out your other posts!

  • Targeting your posts:

Target your audience! Firstly, within your news feed and then on the whole Facebook platform. This will help get more views and people with interest in your content will engage. Click the globe icon and underneath the status option, limit your audience by different qualifications such as age limits and interests etc.

  • Using Facebook video:

There is a new hype for videos in the feed. Facebook users are loving video content and the best way to make your page more captivating is by introducing video content. You should make original video content for your page. It doesn’t need to be complicated stuff; simple slideshow works have also been seen to generate more activity than normal posts in most cases.

  • Quality over quantity:

There is always a rivalry going on in every social platform and the best ones seem to win only. For this reason, make quality your goal, not quantity. Make sure that your content is high-quality, even if you post less. Create original and unmatchable content, and you’ll be sure to get tons of engagement! Spend the time you would use on posting multiple average things on creation of good and higher quality content.

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5 Ways To Determine If Your New Business Idea Will Rock The Market

When planning a startup, every entrepreneur wants to make sure his/her business idea becomes profitable. This is to make sure your investment is paid off and your effort is worthy of your time. Choosing a business can be a tough one because of the risks you need to consider. For a new entrepreneur, these precautionary measures can help you decide about the first things you need to do before entering the world of business.

Choose a business based on your strength and personal interest.

Venturing into a totally unknown business is a very big challenge. Choosing a product or service near your personal interest will actually help you gain knowledge on how it works and how most people are likely to use them. You can visualize the satisfaction of your upcoming customers by comparing it to your personal experience as well. This way, you can determine the pros and cons of using the product personally.

Map out the areas of high demand

Products from each area vary depending on the need of the consumers. You need to check if the chosen location where you want to put up a business has potential customers and competitors. Figure out the number of similar businesses in that area and verify the estimated household expenditures who may purchase your chosen product or services. You got the ideal location if the area has a high demand but has a little competition.

Know your competition

Analyzing the uniqueness of your product will help you beat the competition. This is one of the most crucial parts for start-ups so it’s vital that you include it in your to-do list. Make sure the value of your product separates itself from other competition. You can evaluate the reviews done by the consumers to check their reputation, to determine if the price matches the quality of the product, and customer experience. This will help you analyze how to please your potential customers and provide their unserved needs.

Check the trends of your chosen product or service and match it with the condition of the industry

Many market research firms can help you assess the market condition based on the selected products and services you want to sell. Having a detailed report helps you get an idea if your business will stay strong not just because it is trending in the industry but because most people need your service. Keeping a longer length of stay in the industry is very important to make sure your business is untouchable no matter how many trends come and go.

Ensure the sustainability of your business model

Make sure you can meet the demand and supply of the product which are the discrete requirements of any business. A thorough pre-analysis which includes collecting information about the price proposal or cost structures, scalability of the product, and revenue models will define your business success rate. On top of these measurements, make sure you have a backup resolution in case a problem persists.

Considering these factors before starting your business will help you prevent failure in the future. These tips are very important if you are aspiring to be one of the most successful entrepreneurs in your chosen field of industry.

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4 Everyday Habits Of Self-Made Millionaires

Do you want to know how to become a millionaire? One thing that you need to know is that millionaires don’t follow the same path towards their success. However, it is easy to decipher their financial success because there are several habits that they have in common. Below are some of the habits of financially successful individuals that you need to emulate if you want to become a millionaire one day yourself.

Optimizer

One of the traits that millionaires have in common is that they employ an efficient financial system. They put their bills on auto-payment to make sure that they are paid on time. They do this to avoid paying late fees.

They also invest their money on a regular basis by deducting a portion from their income, or from their savings and putting that money in an investment because investing your money can allow you to grow it. Most investment vehicles, such as real estate, stocks, certificates of deposit, or bonds, offer returns on your money over the long term period. This return allows your money to build, creating wealth in the long run. Some people prefer to keep their cash in the bank, but what most people don’t know is that inflation can deal huge damage to your cash assets. This is because the typical terms and interest rates of your savings or cheque accounts are not designed to keep up with rising inflation rates.

Pay Attention to Details

A self-made millionaire pays close attention to all the details surrounding their financial circumstances. They know the amount of cash that’s sitting idly in their savings account and they will invest them so they can get a higher rate of return. They will also notice whenever their phone bill, water bill, electricity bill, or any other bills are higher than usual. They’ll figure out why the bills are higher, especially if the consumption or level of service is the same. Another thing that any self-made millionaire does is always look at the terms and conditions before signing any contract. This will ensure that they get what they expect, and won’t get any surprise expenses in the future.

Continuous Learner

More often than not, most successful people have had a good education. Working hard at school and then going on to further education or college has long been encouraged by parents and teachers for generations, as most people still believe that education is the key to success. While there are plenty of high-profile people out there who we now consider being mega-successful didn’t actually do too well at school such as Bill Gates and Mark Zuckerberg who dropped out of university to become two of the richest people in the planet, most millionaires have a degree in a field that provides a higher chance of earning a lot more. Doctors, attorneys, and engineers definitely earn more compared to laundry and dry-cleaning workers, food preparation and serving workers or dining room and cafeteria attendants.

One can easily see the benefits of education in the workplace. Engineers with four-year degrees often make more money compared to drafters and technicians who only have an associate’s degree or a high school diploma.

However, it should be noted that education is not always about making more money. Learning new skills can also save you money in the long run. Some skills that can be helpful include troubleshooting a computer, fixing stuff at home, and managing one’s investments, just to name a few.

Take Risks

If you ask a millionaire how to become rich, they will always tell you to take calculated risks. Whether it’s the stock market or real estate, there are always some risks involved, but that didn’t stop them from investing though. A lot of people fail to become rich because they fear the possibility of losing money. While becoming a millionaire is never a guarantee, exposing yourself to more opportunities can vastly improve your chances of financial success.

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How To Overcome Rejection And Turn It Into Power By Refocussing On Your Big Goals

As an entrepreneur you are going to run into rejection, it’s inevitable. You might turn in a proposal that gets denied or try to sell your services and get denied. Either way, it’s important to remember your goals and keep pushing towards them. Don’t let a simple no stop you from achieving your goals. Some of the most successful people have been denied multiple times before reaching their spotlight. Just keep that in mind on this journey of entrepreneurship.

Never take it personally. Most rejections are based on the wellbeing of the other company. If you get rejected it’s simply because they don’t think it’s a good fit. It’s not because you suck and your company sucks. It’s literally just business. Let business be business, and don’t take it to your heart. Don’t let it affect your motivation, or ability to market yourself.

You should use rejection as a tool to figure out what your next step is or even how you could present yourself better next time. Take it as a learning opportunity and figure out what needs to change in order to land that next deal. Your goal is to be successful and grow your company, so use rejection as a tool to guide you in a better direction. Just because one person denied you doesn’t mean there’s not someone else out there that has been looking for someone just like you.

Never be afraid of rejection. Rejection is part of the growth process, and without it, you wouldn’t know where to begin, or even where you should go next. You should never fear being denied because a denial is all it is. It doesn’t affect you negatively to be rejected. If anything, you and the person that denied you are the only ones that are even aware of the rejection. You don’t have to showcase how many rejections it took until you succeeded. Just remember that each rejection leads to another possible deal. Don’t hesitate to put yourself out there in fear of being rejected. Just live for the moment and if you get denied then that’s all that has happened is you got denied. You are still an entrepreneur and you are still striving.

Another thing is don’t give your hopes up to soon. Just keep in mind that rejection is inevitable, and it’s bound to happen to you at some point while venturing as an entrepreneur. Stop hesitating to put yourself out there, because, in the end, it will be nothing but beneficial. You can’t land deals, without putting yourself out there. Regardless of rejection, you are still an entrepreneur and you still need to get your services out there. You can’t wait around and expect something to come to you because that is not realistic. Like I said, rejection is bound to happen on your journey, just don’t let it stop you from marketing your services or company. Use it as a tool to succeed.