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Archive for Entrepreneurial News/Stories

Entrepreneur Spotlight: Sara Blakely – Spanx

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Thursday, November 14th, 2013

Sometimes, you just need to follow your gut…

SaraBlakely-ProfileBeing ranked ninetieth place on a list of one hundred isn’t always the most encouraging piece of information to put on a resume, unless of course, that ranking places you amongst the list of Forbes 100 Most Powerful Women. Happily perched at spot number 90 is Sara Blakely, founder of the wildly successful women’s shapewear brand: Spanx.

After being annoyed with wearing regular panty hose for her previous jobs, Blakely ceremoniously cut off the ends of her stockings and set off on the journey to create a pair of pantyhose that women would be happy to wear. Giving up her life as a door-to-door office appliance sales woman, and with her life savings in hand (a modest $5000) Blakely started researching, designing, testing and pitching her product to perfection.

By starting out on her own, and with such a small amount to start with, Blakely was forced to befriend the word “no” in a very intimate way. Practically ever corner she turned, someone was there to question who she was, what she was doing, and most importantly, who was backing her. Still, with each refusal she received, she was able to revise her pitch and built her confidence up until she convinced a small mill owner to invest in her design. Using all the research and resources she had found, she was able to begin production on her product.

While it may seem that Blakely is one of those fear-less, headstrong entrepreneurs that battles every obstacle in her path with grace and poise, she’ll be the first to let you know that not everything is as easy as it appears. While devising a business development plan, she spent hours pouring over textbooks to write her own patent (a tactic that saved her $3000 in legal fees), while keeping in mind what her father taught her while growing up: if you haven’t failed big at something yet, then you haven’t tried hard enough. This kept her moving forward with her plan, because every failure proved a step in the right direction.

With practice, and a series of failures behind her, Blakely was able to conquer her fears about the business world, but she’ll still confess to being afraid of things like heights and public speaking (which most people can agree, are pretty nerve wracking!)

Since then, Blakely can attest to a real turn around in the way people interact with her. Her husband, Jesse Itzler, told Forbes Magazine that Blakely has become a serious magnet for partial nudity. Often, when she’s recognized on the street or in stores, women flash their Spanx in appreciation for her invention. This is a complete turn around from the days when she herself was flashing her product to store managers as a way to showcase the before-and-after effects of Spanx. It might even bring back memories to when Blakely pitched her product without shame in the ladies room of Neiman Marcus, where she landed her first big contract.

When you think about it, what higher honor could there be for an entrepreneur than satisfied customers showing you the use of your product, even if it includes a few hiked skirts on the street?

Blakely is a brilliant example of the success that can come with a motivated and dedicated leader. Without her constant drive to find the best version of her product, Spanx would still be stuck where it was almost 20 years ago, and Blakely wouldn’t see nearly quite so many happy women with well-shaped behinds thanking her for her product.

 

© Zoe Begopolous, DemGen Inc. 2013

Categories : Entrepreneurial Lifestyle, Entrepreneurial News/Stories, Starting a Business
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How the World Will Replace Employees With Entrepreneurs

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Friday, September 27th, 2013

It turns out that it’s not just startups that don’t want traditional employees.  Large corporations, small businesses and agencies are increasingly looking to entrepreneurs for support and the trend shows no sign of slowing down anytime soon.

Entrepreneurs are the way of the future!

Everyone Will Have to Become an Entrepreneur

by annavital.
Explore more infographics like this one on the web’s largest information design community – Visually.

 

Categories : Entrepreneurial News/Stories, Small Business, Virtual Teams
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America Runs on Small Business

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Friday, June 21st, 2013

Though this may be the final day of Small Business Week, it’s important to recognize the role small businesses play in economic growth.  Support small and local businesses every day!

Small-Business-Hiring

Categories : Entrepreneurial Lifestyle, Entrepreneurial News/Stories, Small Business
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Telecommuting: It’s All About Management and Results

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Wednesday, March 13th, 2013

It’s been a while now since Yahoo banned telecommuting, but the debate doesn’t seem to be loosing any steam on major media and social networks.

Due to our belief that telecommuting is the way of the future, we’ve been paying close attention.

More details have now emerged about why Marissa Mayer instituted the ban, but it’s done little to stop the negative publicity.

USA Today reported that Yahoo’s Virtual Private Network logs showed that remote workers were not logging in regularly, leading to Mayer’s decision.

The New York Times suggested that the move was intended to increase employee morale and noted Yahoo’s employee issues were not just due to telecommuting.  Many of the employees in the office were trying to do as little as possible and leave early.

Outspoken, forward-thinker Richard Branson founder of Virgin Group also stepped into the debate calling mandatory office hours for all workers a sign of “old school thinking.” The Globe and Mail reports that Branson took his thoughts to the Virgin blog, further stating:

“The key for me is that in today’s world I do not think it is effective or productive to force your employees one way or another. Choice empowers people and makes for a more content work force…”

“In 30 years time, as technology moves forward even further, people are going to look back and wonder why offices ever existed.”

Meanwhile, there is a smaller, yet vocal group in the anti-telecommuting court.  A few days following Yahoo’s ban, New York City Mayor Michael Bloomberg called telecommuting “one of the dumber ideas I’ve ever heard.”  Best Buy also followed suit with a similar decision to ban telecommuting for its workers.

Forbes opinion that distance wasn’t the issue for Yahoo or Best Buy – management was tends to resonate most with our view on the matter…

When telecommuting is a possibility for employees, it’s up to management to have the right systems and accountability checks in place to ensure the work is getting done.  No matter where employees are working from, management must ensure deadlines are being met and results are being achieved.

With the right team management and online collaboration tools in place, telecommuting can most certainly increase productivity and results.  Without the right systems, there is a good chance employees will abuse the right to telecommute.

If employees are properly trained, motivated, managed and monitored, telecommuting can open up a world of benefits, but first it is essential that employees have a clear understanding of what’s expected of them.  When and where they work is irrelevant if they’re achieving outstanding results.

It’s human nature to want to perform to the best of our abilities.  If employees aren’t achieving results or meeting goals and seem to have ‘lost that loving feeling’, there are probably deeper issues at hand that need to be addressed.

Regular performance and results reviews, combined with online collaboration tools, are ways managers can help telecommuters remain accountable.

At the end of the day, it’s all about results.

We don’t see this debate ending any time soon.  As a company that only exists virtually and has been successfully ‘living in the cloud’ for 8 years, we are loving that major media and corporations are supporting what we’ve known for quite some time.

Let us know what you think in the comments section!

Tamara Smith

© DemGen Inc 2013

Categories : Entrepreneurial Lifestyle, Entrepreneurial News/Stories, Productivity, Virtual Teams
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Women Business Owners Decidedly Optimistic

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Friday, March 8th, 2013

A national survey of women business owners (WBOs) conducted by Web.com Group, Inc. (Nasdaq: WWWW) and the National Association of Women Business Owners (NAWBO) found a pervasive sense of economic optimism, including a prediction by most WBOs (85 percent) that more women will become entrepreneurs in 2013 than in past years. WBOs also plan to invest more (38 percent) or the same (54 percent) in hiring this year than they did in 2012 – a positive sign for the economy.

2013--State-of-Women-Owned-Businesses-Survey-Infographic

 

 

© DemGen Inc. 2013

Categories : Entrepreneurial Lifestyle, Entrepreneurial News/Stories, Women Entrepreneurs
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Lessons for Entrepreneurs from the Worst of Dragons’ Den and Shark Tank

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Saturday, February 23rd, 2013

There are a lot of lessons to be learned by entrepreneurs from the worst pitches on Dragons’ Den and Shark Tank.

Here are some examples of the worst pitches from around the world and our thoughts on why they didn’t succeed.

 

No Fly Cone – Shark Tank (US)

Even a surprise appearance by Seth McFarlane couldn’t help this guy’s business.  Unfortunately, the logistics for his product, well, stunk.

 

Happiness Product Line – Shark Tank (US)

We’re all about conscious business and love this idea!  But realistically, how likely was it that the Sharks would go for an idea like this?  Unfortunately, given her numbers, her business is still more a hobby than a business.

 

Bottled Intentions – Dragons Den (Canada)

There’s something to be said about the power of intention.  Perhaps the product would’ve had a chance if it was from a well known expert in the field or a coach, author or speaker.

 

CrowdFanatical – Dragons Den (Canada)

This business might have had a chance (however doubtful), if his numbers weren’t inflated, with no plan for how to get there.  Realistic, achievable numbers and a strategy to get there are always key.

 

UV Bodysculpture – Dragons Den (UK)

As much as the Dragons fell in love with this guy’s personality, there were some major flaws to his pitch.  If he couldn’t make his product successful for almost two decades, what would help now?  Business owners need to prove it themselves first.

 

Female building company – Dragon’s Den (UK)

With no knowledge of the Dragons, no background in the field, no sales and a borderline discriminatory and sexist business, this one was hard to watch.  A bad attitude is a never a good idea when unprepared.  Be someone people want to work with.

 

Did we miss any great ones?  Share your favourites in the comment section.

Categories : Business Experts, Entrepreneurial Lifestyle, Entrepreneurial News/Stories, Marketing, Small Business, Starting a Business
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How Canada’s Anti-Spam Law Will Affect Your Business

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Wednesday, February 13th, 2013

If you’re a business owner, marketer or conduct any business in Canada, you’re undoubtedly aware of the proposed changes to Canada’s anti-spam law (CASL).

CASL prohibits the sending of unsolicited commercial electronic messages (CEMs) without prior consent of the recipient and provides rules regarding the manner in which such messages may be sent.  The legislation is expected to come into force in late 2013.

The legislation imposes significant monetary penalties for the sending of unsolicited CEMs, the alteration of transmission data, and the unauthorized installation of computer programs.  Financial penalties range up to $1 million for an individual and up to $10 million for a business per violation.

On January 5, Industry Canada released its newest version of the proposed regulations, accepting comments until February 4.

For the past month, businesses and groups from across the country have been expressing their concerns by taking action with a campaign against the legislation.

Though we can all agree that excessive spam is not a good thing, businesses are concerned about the strict requirements, costs to implement and hefty fines for mistakes.

For more information, review the full proposed law and the official site.

The Canadian Chamber of Commerce has taken a hard stance against the legislation and provided a summary of the law and action you can take.

Though it’s past the deadline to submit comments to Industry Canada, you can still contact your member of parliament.

What do you think about the CASL?  Let us know in the comments section.

Categories : Entrepreneurial News/Stories, Lead Management, Marketing, Sales, Small Business, Social Media
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Valuable Lessons from a Surgical Ordeal

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Saturday, January 5th, 2013

Here I am one month post-surgery, recovering steadily, and thankful that I can share that news. Has it ever been an exciting ride! And I am so thankful for my situation.

You may think gratitude is an odd response to a painful and debilitating episode in my life, but that’s just how I’m wired: I actively look for the lessons in challenging circumstances and give thanks for them. And, wow, did I get to learn a few this time!

Ask for assistance and accept it. When I operate under the assumption that I can handle all life’s challenges on my own, I do myself no favors! I learned to let others contribute to my successful outcome and to ask for whatever is not specifically being offered that will also assist me.

“Pride goeth before the fall” is adapted from the Book of Proverbs. Pride has no role in my return to full health and function. No matter how potentially embarrassing it may seem, success depends on my ‘full disclosure’, time and time again. There is likely nothing I can share that my kind caregivers haven’t heard or seen before.

Patience, pacing and peace help my pursuit of purpose. With whom am I most impatient in this life? That’s right—with me! Now is the time to be extra kind, extra understanding, extra methodical and extra calm to give myself the healthy space I need to be well again. I learn this lesson, again and again. My brother gave me some very wise words to live by: “Do a little a lot, not a lot a little.”

New friends are found everywhere. I am so amazed at the number of people I met while in hospital and the generosity of their sharing. Again and again, interesting people cared to know me and enjoy the time we had together, however colored by our various roles as patients and caregivers. By reaching out, I reap the rewards.

Humor is the very best medicine. Even (and especially) under painfully adverse circumstances, I found something to laugh about. And it helped. Just try to laugh without cheering up a bit—it’s impossible! When things seem to be at their ‘rock-bottom’ worst, I find the humorous slant. Then I laugh. The future looks brighter through laughing eyes.

Perspective (and therefore experience) is my choice. Somehow, with rare exceptions, I am able to distinguish the role of choice in my reaction to whatever comes up. How I choose to deal with the things I am dealt—and being able to distinguish that I am actively choosing—is the essence of dignity in any situation.

These few lessons can be applied to any situation, and I intend to take them out into the great wide world of my work and personal life and apply them generously. Perhaps you can use them too.

All the best!

Julie Nierenberg

Categories : Entrepreneurial News/Stories
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New Year’s Resolutions for Your Business

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Thursday, January 3rd, 2013

As we begin a new year it’s a time for reflection and contemplation.  We look back at the year past and resolve to make improvements in the year ahead.

Unfortunately, according to Statistics Brain, only 8% of resolutions are actually successfully achieved.

Why such low success rates?  Often resolutions are made in haste as part of a New Year’s Day routine, instead of with deep reflection.  To effect permanent change requires conscious thought and hard work.

If you are resolving to make changes in your business or personal life this year, there are ways to help ensure you achieve your goals.

Regularly revisit your resolutions.

It’s easy to fall back into past habits upon returning to the daily shuffle after the holidays.  Take the time to step back daily, weekly and monthly to review and see where you stand.

Have you been doing what you resolved to do?  The results should speak for themselves.

By regularly revisiting your resolutions, they remain top of mind and organically become ingrained in everything you do.

Create a support system.

Let’s face it, change is never easy – old habits die hard.  Sometimes you’ll need a bit of help to reach your goals.

Surrounding yourself with individuals who understand and support your resolutions will help you to succeed.  They can provide friendly reminders to keep you on track, as well as provide a beneficial outside perspective.

Whether it’s a spouse, colleague or virtual team, it’s essential to have support to stay on track when making changes.

Embrace past successes (and failures).

There is always room for improvement in life.  Nothing is ever perfect.  Use past failures as lessons to make the transition easier.

Remember the cause and effect of your actions in the past year.  What were you happy with?  What would you like to change?

With both your successes and failures in mind, you can create your strategy for the year ahead and focus on the success you will achieve in the coming year through making changes.

Develop a clear vision of your success, intensely believe you can achieve it, dedicate your passion, creativity and self-discipline to it, and you will succeed.

In the famous words of Albert Einstein: “Insanity is doing the same thing over and over again and expecting different results.”

 

Categories : Entrepreneurial News/Stories
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Celebrating the Customer with Excellent Customer Service

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Friday, November 16th, 2012

In honor of Entrepreneurship Day in the US and the conclusion of Global Entrepreneurship Week, we’re going to focus on the most essential piece of your business – your customer.

Without customers, you don’t have a company. Keeping them happy and engaged is the most important thing you can do!

If you’re reading this blog, chances are you’re already providing a valuable product or service that your customer needs, but it doesn’t end there…

Your company can provide something that every customer wants and needs, but all can be lost in a minute if your customer isn’t feeling valued.

As an entrepreneur, the true essence of your business is customer service.

This may seem like stating the obvious, but take a moment to ponder how often you’ve had to deal with poor customer service and how it made you feel.

We’ve all been there. It’s obvious that many companies do not make customer service a top priority, not because they don’t care, but because they are focusing on other priorities.

Unfortunately, the customer is unaware and doesn’t know about everything else that’s going on with your business.

If your customers aren’t getting questions answered or issues rectified in <24 hours, you need help. Don’t wait until it’s too late!

We understand the entrepreneurial mind here at DemGen and know that when such issues arise, it’s not that you don’t care about your customers – you just have too much to do!

Whether you outsource other tasks and deal with your customers directly or outsource your customer service, delegating effectively is essential to stay on top of everything.

There are only 24 hours in a day and only so much energy you can dedicate to any endeavor. There will come a time, if it hasn’t already, where you will have to allocate your time and start delegating wisely…

The key to success is remaining focused on your clients at all times.

So, this Entrepreneur’s Day, let’s celebrate our customers together!

© 2012 DemGen All Rights Reserved.

 

 

 

Categories : Customer Service, Entrepreneurial News/Stories
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