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4 things to remember when things look bad for you as an entrepreneur

(EDITORIAL) We obsess about successful entrepreneurs but don’t always see the struggles it took to get to that point. If you’re struggling as an entrepreneur, let this editorial encourage you and give you an honest perspective.

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The American fairy tale of entrepreneurialism

We love a good success story just like the next guy. We love tales of triumph, of someone winning against all odds, and today, the American fairy tale of entrepreneurialism is one that has captured the minds of screenwriters, musicians, and Instagrammers alike. We worship the Zuckerbergs of the world who went from no one to bajillionaire in a short period of time as their lines of code changed how the entire world communicates.

But in that idol worship, we focus on that moment of success and don’t see the tales of failures hovering just below the surface. Every entrepreneur can tell you about the overwhelming nature of those struggles and failed moments, and they can all tell you about the crushing pressure that exists before the dawn of success.

So what should every hopeful, budding, or veteran entrepreneur keep in mind? We asked Victorio Pellicano, Founder and CEO of Verenia for his thoughts on the topic, on overcoming the difficulties of entrepreneurship. He earned his BS in Computer Science from the University of St. Francis, which he followed up with a law degree from Loyola University Chicago School of Law. He worked as a software engineer and soon founded Verenia which is a popular CPQ company (“Configure, Price, Quote” is software that accurately prices goods as endless variables change constantly).

Although there were already huge CPQ companies in existence (Salesforce, SAP), Pellicano has been able make his company meaningfully competitive and skyrocket revenue, all without outside funding. Talk about a high pressure scenario.

Below are Pellicano’s words of guidance for entrepreneurs when things look bad:

Starting a business from the ground up is tough

A lot of things need to go right to be successful. Too bad human existence has a funny way of doing exactly the opposite of smooth. Things change, people get into fights, or maybe the overall vision of the business isn’t what it once was. When you’re in business for yourself, the term “bootstraps” can mean a lot of things.

It isn’t easy, but if you do find that mythical “magic quadrant,” the payoff is incredible. You’ve built something you believed in, and you put in the work to achieve awesomeness. There are few feelings as gratifying as being the boss and taking a long lunch whenever you damn well please.

But, it ain’t all roses. Stuff will suck a lot of times. It will be hard. That’s just inherent to the culture of being self-made. I mean hey, busting your ass, coming up from nothing is basically, like – 80% of rap music, right?

As new entrepreneurs set off into the business world, there are some things they should know, what to expect and what to do when things don’t go as planned.

Check out these four things to keep in mind when it feels like the sky is falling.

1. Build a support system stronger than the Great Wall

When in business, stuff goes sideways. Anyone who’s ever held a job knows stuff changes and can go bad quickly – that’s just inherent to the DNA of work. But, when you’re in charge, and it’s your business, you’ll be pulled in a lot of directions. Many times, those directions are uncomfortable whether it be about the staff, progress, earnings, whatever. Because of this, you gotta assemble the All-Star team behind you, the folks who’ll always keep your head in the game and won’t let you get too big for your britches.

As an entrepreneur, you’re inherently optimistic. You had the guts to go it alone and do your own thing. That optimism is what makes you, you. Because of this bold attitude of work-related sunshine, you’ll probably not likely pay attention to that bad stuff, until it’s like, crazy bad.

By keeping a group of advisors, friends, and family close who you can talk to, you’ll have voices who offer advice from a place that isn’t about anything but helping you succeed. Success is a long process, rarely do businesses go from red to black overnight. You need some reliable people to keep you sane when all is quiet.

2. Don’t lose sight

When you had the idea to start your business, it was about more than just making money. You had goals, you had a vision, and you wanted to make an impact on the world. After a while, those emotional price points evolve. When you suffer a setback, or something goes way better than planned, it’s important to stick to your guns.

Keep a list visible near your workspace. You got into this game because you wanted to do better for your family, or maybe your last boss was a jerk and this is your way of paying the universe back. Either way, a little motivation never hurt anyone. You wanted to be the boss of yourself, don’t lose sight of that through the rough patches.

Set small goals to nail, and then work your way toward the bigger rocks. Motivation is hard, just ask anyone who wants to hit the gym, but still has a gut. Business is no different. You need to focus on the stretch goals and fight your way through the murk of self-doubt.

3. Rome wasn’t built in a day

You know why this old cliche sticks around? Because it’s true. Nothing worth doing happens overnight. If being self-made was easy, everyone would be doing it, too. (Just ask Biggie Smalls.)

Read any bio of successful folks who built an empire, or just a solid place to grab a burger in the neighborhood – success took time. For many of these folks, that time was spent worried the dream would go under from lack of early adopters.

But they persisted. They invested their money back into the business, they promoted, they made smart choices instead of the easy ones. Building brand equity will take smart moves and a lot of patience. Can’t be selling that charbroiled cheeseburger when no one’s coming in the door, right?

4. Accept your plan isn’t perfect

Just because you dream it down to the final note on paper, that doesn’t mean it’s going to work out that way.

If you’re a business-type CEO, you’ve spent a lot of time planning, writing business plans and Go-To-Market plans – that’s business 101.

If you’re a technical CEO, you’ve spent a lot of time coding, researching, and watching trends.

Both CEOs have done the homework, they’ve planned, prepared, and are committed to taking on the world, helmet strapped on and mouth guard in place.

But then the world doesn’t give a shit. Doesn’t even kind of care. No leads come in, there is no money to spend to bring in new customers, and no foreseeable change.

All the planning in the world won’t prepare you for the harsh realities of the free market. As you roll out and talk to people about your business, invite criticism and learn from what other people tell you. It doesn’t mean you have to change course every time someone’s opinion is different than yours, but their thoughts and critiques could offer a nugget of truth you may have not considered.

Final word of encouragement

I’m from Chicago, and if there’s one thing we love more than The Blues Brothers, it’s His Airness, Michael Jordan. I rely on one of his quotes to get me through the bad times:

“I’ve missed 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” – Michael Jordan

If that ain’t some #realtalk, I don’t know what is. See you out on the court, folks.

#realtalk

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Kiri Isaac is the Web Producer and a Staff Writer at The American Genius and studied communications at Texas A&M. She is fluent in sarcasm and movie quotes and her love language is tacos.

Business Entrepreneur

Every modern business needs to automate these important processes

(ENTREPRENEUR NEWS) If you’re still handling the majority of your business functions and processes manually, you’re missing out on a chance to grow.

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Automate your biz

We’re living in an era of tremendous innovation. But not only are business technologies rapidly advancing, they’re also extremely cost effective. If you’re still handling the majority of your business functions and processes manually, you’re missing out on a chance to grow.

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There’s something to be said for performing tasks manually, but if you’re attempting to do everything on your own, you probably have an issue with control. You’re worried about what will happen when you step away and aren’t quite sure of how your business will respond. Well, here’s a news flash: The most successful small businesses in the world are automating many different key activities, including the following:

1. Employee Scheduling

“If you’re still scheduling your employees using pen and paper and then calling them individually or making them come into work to learn when they are working, you are living in the past and need to modernize your process,” ShiftPlanning clearly explains.

It may seem like a basic business process, but employee scheduling is extremely important for many companies.

You need to ensure you have the right number of people working at every hour of the day, as well as the right mixture of talent and personalities.

Thankfully, you don’t have to handle this responsibility on your own. You can streamline and automate the entire process with employee scheduling software.

2. Social Media

For small businesses, social media is a big priority. Platforms like Facebook, Twitter, and Pinterest allow you to put your brand in front of thousands – even millions of people with the click of the button. But if you’re like most businesses, you don’t have the time or resources to spend 40-plus hours per week working with social media.

Don’t fret, though. Automation is possible in this area as well. In fact, social media automation is a swiftly growing industry that features dozens of reputable tools that can take your business to the top. Here’s a look at a handful of the top ones.

3. Human Relations

Most people don’t realize that you actually automate many different HR tasks with relative ease. While it’s still a good idea to have an HR person on staff (or at least someone who has experience in the area), HR software can reduce much of the burden associated with maintaining a full-blown HR department.

With HR software like Zenefits, Justworks, or Algentis, you can automate tasks like compliance, benefits, insurance, taxes, and payroll – all things that otherwise take up hours of your day. This also lets you move towards a paperless system, saving money and space.

4. Backup and Recovery

If your business has ever experienced data loss, you know how significant and detrimental it can be. However, you’re also aware of how time-consuming it is to manually backup files. It’s easy to forget, space is at a premium, and you aren’t even sure you’re doing it the right way.

This is where automated backup and recovery comes into play.

An automated solution handles the process without any need for manual intervention and ensures your data is waiting for you in the event of a disaster.

How does that sound?

What are you waiting for?

If you aren’t currently automating business processes like these, you’re well behind the curve. Whether you realize it or not, you have access to tremendous tools that allow you to streamline these responsibilities with relative ease.

Take advantage of these opportunities and actively work to push your business forward. It’s the businesses that automate that will excel in the future.

This story was originally featured on November 11, 2016.

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Business Entrepreneur

7 books every entrepreneur should read

(BUSINESS ENTREPRENEUR) You’ve heard it said, “do as I say and not as I do.” Read these books from authors who have figured out what works and what doesn’t when starting a business.

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The power of books

If you’re thinking about leading a startup, but not sure where to go, the internet is often the first place we look. Surely, you can find dozens of blogs, articles, stories, and opinionated editorials that can help give you something to think about.

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However, there are tons and tons of great books that can help you think about what you need to get started, how you need to change your mindset, or challenges you may confront as you begin your startup journey. Take a look at the following 7 you may want to add to your bookshelf.

1. The Startup Checklist: 25 Steps to a Scalable, High-Growth Business
This text not only boasts a 5 start rating on Amazon, but offers what few books do – practical, tangible, down to earth advice. Where lots of books try to tell you a story, talk strategy, and share wins, author David Rose instead focuses on advice that assumes no prior experience – and breaks it down from the fundamentals.

2. Nail It then Scale It: The Entrepreneur’s Guide to Creating and Managing Breakthrough Innovation
Nathan Furr and Paul Ahlstrom focus on creating a lean startup by offering a step-by-step process that focuses on nailing the product, saving time, and saving money. The first step is about testing assumptions about your business, and then adjusting to growing it (hence: Nail It and Scale It). Strong aspects of this book include a great theoretical foundation, and an easy to follow framework.

3. The Founder’s Dilemmas: Anticipating and Avoiding the Pitfalls that Can Sink a Startup
Wasserman’s strength here is that he focuses not only on the financial challenges, but identifies the human cost of bad relationships – ultimately how bad decisions at the inception of a start-up set the stage for its downfall. This book is a great tool to proactively avoid future legal challenges down the row, and also discusses the importance of getting it right from the start.

4. The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers
Horowitz writes about his experiences, taken from his blog, in a way that even inexperienced managers can touch and learn. The advice here really focuses on leading a start-up, and what lessons his experience has given him. Presented in a humorous, honest, and poignantly profane way.

5. The Startup Owner’s Manual: The Step-by-Step Guide for Building a Great Company
Blank and Dorf here standout due the sheer mass of this text. A comprehensive volume at 573 pages, my favorite piece for new investors is a focus on valued metrics – leveraging data to fuel growth.

6. The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life
A personal favorite of mine, this book is recommended for entrepreneurs not because it’s focus on business, but as a reminder that those of you wanting to start up are people. You have limited resources to manage as a person, and will need to adjust your perspective on what you care about. This book is about changing your mindset to pick your battles and be more focused.

7. Disciplined Entrepreneurship: 24 Steps to a Successful Startup
Bill Aulet starts with an approach that entrepreneurs can be taught, and breaks down the process into 24 steps, highlighting the role of focus, the challenges you may encounter, and the use of innovation. This text wins due to its practicality for new start-ups, and a specific method for creating new ventures. It also features a workbook as an additional, optional resource. Check it out on Amazon

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Business Entrepreneur

6 entrepreneurial tools for startup productivity

(ENTREPRENEUR NEWS) Whether you’re a small business or startup, improving efficiency means more money and less stress. Here are six tools to help do just that!

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All good entrepreneurs are full of ideas

Truly great entrepreneurs are also well organized and know which tools will help them see their ideas to fruition.

That can be key for getting a startup business off the ground. Good ideas and a strong entrepreneurial spirit aren’t always enough on their own. Sometimes you need the right mix of technology and tools to keep the more mundane and tedious tasks from bogging down your efforts.

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Here are six tools almost any entrepreneur can use to help keep productivity high when starting a new business:

Lawtrades: For legal help

For most entrepreneurs, it’s not the most exciting thing in the world, but making sure you have your legal ducks in a row is important for any startup. Lawtrades helps with that while trying to keep costs down — music to the ears of any startup business owner.

The service is a legal marketplace of sorts designed specifically for startups and entrepreneurs. It connects business owners with legal professionals that it claims don’t charge “bloated law firm hourly rates.”

Lawtrades offers a number of services, including business formation, employment and labor, contracts and agreements and intellectual property.

Do: For productive meetings

Anyone who has started a business knows that it doesn’t happen without a multitude of meetings. Do is a service that can help make your meetings productive so you can waste as little time as possible.

The app allows you to plan and share an agenda to make sure everyone is on the same page. Other features include the ability to track accountability by showing you which points and/or tasks have been covered.

1Password: For easy password management

Starting a new business likely means starting and managing lots of online accounts. The 1Password app from AgileBits helps you save time by remembering passwords and other information for you.

The app helps you generate strong and unique passwords for your many accounts, and secures them behind one safe password known only by you. The app doesn’t only work for passwords — it can also help remember other information such as credit card numbers, safe combinations or street addresses.

Kanbanize: For product development

If your startup involves a specific product or set of products, Kanbanize helps you develop them with your team without bogging down the process. The software allows you to post and share boards that include product information and progress, and you can choose which people see which information.

For example, if you want to update investors on the status of your product development, you can share certain boards with stakeholders and no one else.

Evernote: For organization

There are many applications available that aim to help team productivity, but Evernote is one of the best.

The software allows you to collaborate with your team all within one workplace, keeping projects and other work together. You can also give feedback on ideas and share notes while syncing the data across computers and phones.

There are many other features as well, including in-app chat functionality and integration with Google Drive.

TaskHusky: For web development

Almost any new business will want some sort of business, but a staff of web designers and developers isn’t always an option for startups. That’s where TaskHusky comes in.

TaskHusky is an on-demand service for small businesses that need help with one-off tasks with the Shopify, Bigcommerce or WordPress platforms. The company has a simple three-step process: You create a task and pre-pay, a TaskHusky team member is assigned the task and gets to work and the task is completed and is sent back for your approval.

The takeaway:

Smart entrepreneurs understand they can’t get everything done on their own when it comes to starting a new business. These six tools may not be everything you need to launch and maintain a startup, but they will go a long way to helping you keep productivity at a high level.

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