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Advice From Millennial Entrepreneurs

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millennial entrepreneurs
Millennials are underrated when it comes to work ethic. As the biggest age group in the country at 80 million strong, entrepreneurs sprout from all over, creating jobs for a variety of industries. Success comes in many forms, and we at Owner’s Magazine had the opportunity to talk to a few successful entrepreneurs about culture, motivations, and how to achieve your goals. Many of these entrepreneurs are founders and CEO’s of their own businesses, and they are here to give some advice on how to grow.
 

Greg Star, Founding Partner of Carvertise

Carvertise"Why finding a mentor is the worst advice I ever received. You may be confused by this title. After all, a mentor is crucial for personal development. They can provide hard earned wisdom that only comes from experience facing similar challenges that you are up against. Additionally, a mentor can open up a network of contacts that you would not meet otherwise. So why would finding a mentor be considered bad advice? Isn’t this a no brainer? The answer is no- and here’s why. Finding a single mentor limits your thinking. You should be trying to find multiple mentors. Here are three important benefits you get from surrounding yourself with a team of mentors as compared to one. 1. Different viewpoints- Having several mentors with different specialties to bounce problems off of will give you broader insight on the problems you are facing. Your one mentor may have a biased that can only be seen if your getting multiple points of view. 2. Larger network- A mentor can open up a lot of doors to a lot of key introductions for you from a personal and professional standpoint. Thus, the more mentors you have, the larger your network becomes. 3. It teaches you how to ask for help- This is probably the best lesson for finding multiple mentors. The act of constantly reaching out to different people asking help is an incredibly important skill. It teaches you to put your ego aside,  which is incredibly important in developing personally and professionally. I personally reach out for help 3-4x a month to people who I think I can learn from, and the benefits have been exponential. Bringing it together: Next time someone tells you to find a mentor, stop them, and let them know why they are wrong!"

Andrew Nakkache, Co-founder & CEO of Habitat LLC

Habitat“7 core attributes or traits that I think are important for entrepreneurs (at least for me): Share Ideas - I'm big on sharing a raw idea with everyone. Ideas are typically worthless, and the only way they get better is through talking to enough people (and customers). 9/10 ideas I have are terrible. Delusional Optimism - You need to have a deep-seeded belief that you and your team are exceptional, and you are the ones that are going to fix the problem you're solving. Everlasting Paranoia - Simultaneously, you have to believe that what your building is worthless Shameless Persistence - Again, tell everyone your idea and ask everyone who you think can help..for help. Most people like to help entrepreneurs, those relationships can turn into mentors. Impulse Control - You need to have the ability to resist temptation. Level Headed - This ties into Impulse Control, you’re going to have a lot of internal battles. It’s important to keep a level head, and your team needs to see that. High Integrity - Always be thankful and courteous to everyone you meet. You never know how someone may be helpful down the road.”

David Feinman, Co-founder & CEO of Viral Ideas

Viral Ideas“For new entrepreneurs, it is important to just get started, to do something that you can take to market. Be it a product, a consulting concept, or something small, that you are able to take to a few customers that are willing to pay you something, for your idea or for your concept so that you can test, learn, and grow from that initial starting base, and really build on top of that.” 

Benjamin Fuller, Associate of Montgomery McCracken’s Business Department

Montgomery McCracken’s Business Department“While every situation is different, I often recommend that the partners in start-ups have honest and frank discussions their goals. I find that they rarely have accounted for disagreement and difficult circumstances that are likely to arise in any business. It is always easier to have a discussion about these issues up front. With respect to growing companies, I counsel them on how investment may dilute their equity. For founders of any company it is important to understand what they are giving up in order to gain investment. The bottom line is it’s important to include your lawyer in these types of conversations early and often. We often act as the facilitators of these discussions and can provide specific insight sometimes based on “war stories” – both good and bad - from past representations.”  

Stephen Blackwell, Chief Strategy Officer of the Billboard-Hollywood Reporter Media Group

Billboard-Hollywood Reporter Media Group"The Great Recession created a lot of uncertainty for my generation and how it viewed itself and its prospects. The status quo didn't appear sustainable at the time and it forced a lot of us to think outside the box – and ultimately create jobs during that time. To me, success has been about educating yourself at length about the industry you're entering and then taking the extra time to get creative. Find that niche your industry is looking for. It's probably hiding in plain sight."  

Tony Cho, President of Metro 1 Properties

Metro 1 Properties“To me, culture is everything. That is why most, if not all, of our agents and employees chose Metro 1 over other more established companies. The culture we curate and create exudes and exemplifies who we are and who we aspire to be in the community. Providing regular yoga and meditation classes for staff and agents builds camaraderie and rapport between and among the team. Culture is key in business.”  

Erica Dias, Co-Owner of The B Firm

The B Firm“Never give up! Dreaming isn't going to get you anywhere. DOING will! You've got this! Faith It Until You Make It!”  

Ryan Shear, Principal of Property Markets Group

Property Markets Group“I’ve found that so much of what dictates success in real estate development as a profession and an industry ultimately boils down to effective management, whether it’s managing time, resources, personnel, etc. From the beginning, I recognized an opportunity to do things at PMG differently from the typical development shop. We have a great blend of really experienced industry veterans working hand-in-hand with ambitious young professionals that has left us with a very atypical culture relative to the other companies in our field. We have fun together and support one another, but we are also constantly pushing. When it comes to incentivizing employees based on project performance, I think we are more aggressive than just about any other developer of our size and that gets the team to reach for that higher gear. I am very demanding of my team, but they have become even more demanding of themselves and that is what makes me most proud."  

Karen Elmir, CEO of The Elmir Group

The Elmir Group“To maximize sales, one must be creative and think outside the box. Push beyond ordinary marketing tools by investing in your listing and always look for new channels of communication and sales. Remember, it takes money to make money. Additionally, professionalism and dedication are key. Make sure to consistently be knowledgeable about your product, as well as the state of the market and its trends.”  

Ali Grant, Founder of Be Social

Be Social PR“As your business expands, you will soon understand the need to scale efficiently. It can be difficult giving ownership to others, but putting trust in your team allows you to conquer, grow, and scale.”  

Elizabeth Convery, Founder of Very Real Estate

Very Real Estate“I have been fortunate to build my entire book of business at VERY Real Estate on word-of-mouth referrals. It is my belief if you do right by one person, and put their needs above your own, treating them with respect, dignity, and acting in a thoughtful way on their behalf, that you leave a lasting and memorable impression. Naturally, when people have a positive experience, they tell their friends and your business grows like a tree. I strive to always have people smile when they hear my name. Making someone feel special is the key to building trusting, lasting relationships and having a reputation that leaves people feeling great.”  

Zubin Teherani, Co-Founder of LeagueSide

LeagueSide"Sell your idea before you sell your product. Youth sports sponsorships have unique advantages over other forms of marketing. They provide a captivated audience for hours every weekend, guarantees digital and in-person impressions to the same group of families, and supports the families you're marketing to by subsidizing their costs. We always, always, always, start by selling the merits of sponsoring youth sports organizations before we get into how it works. Selling the big picture helped us close big clients and investors in our early days before we ever built a product. "Fake it till ya make it" - When we started LeagueSide, we focused on selling before we ever built a product. We pitched clients, youth sports leagues, and investors and got yeses before we committed to LeagueSide full-time. This validated that this was a business worth pursuing, saved us months of time, and gave us perfect clarity of what we needed to do next.” 

Jenny Cipoletti, Founder of Margo & Me

Margo and MeThe Shift: I started reaching out to stylists to work with them on weekends. I worked PR during the week and started styling on the weekends with whoever needed an assistant at the time. From there, I started to realize I really enjoyed the styling more. I woke up at 25 and I had a grocery list of all of these amazing things: my health, my boyfriend, and my puppy, but I just wasn’t happy. I didn’t know what was wrong with me. I was alive but I wasn’t living. I was just going through the motions. That Quit Moment: I said to myself, if I wake up at 30 years old and I’m still doing this, it’s not going to be pretty, so I left my PR job and went back to school. I did the nine month program at FIDM for fashion design, and it was incredible. For years and years, I hadn’t learned anything tangible applicable or creative — that changed overnight. I’d totally forgotten what it felt like to be a student again, totally immersed in a creative culture and constantly inspired by my teachers, my peers, and my work. I was thrown into a design program where you learned how to sketch, sew, drape, and create patterns. It was like this bubble just burst inside of me. I suddenly realized that this was what I’d been missing all along. Start, Just Start: In addition to going back to school, I launched Margo and Me as a way to showcase what I was designing (Margo is my french bulldog). It started out as just a showcase for the dresses I was designing, but then I started posting outfits and styling tips as well. My husband is a director and was the one who originally inspired the idea because he was testing his new camera lens so I asked him to take a picture of me wearing one of my outfits. There were a few trendsetters out there, but this was before the huge blogging boom. There weren’t really many people doing it at the time. It was a whole new world.”

Kathleen McCabe, Founder of Syreni

Syreni"In the early stages of starting a company the best way to stay motivated is hold yourself accountable by telling as many people as possible about what you are doing. This will help you gain confidence and allow you to practice your natural sales pitch while building your future network. Get a web presence early and publish your anticipated launch date. The excitement you see from your early followers will motivate you to keep going and not give up."  

Hayk Tadevosyan, Insurance Agent at State Farm

State Farm“I always go back and use numbers to make things simple to understand as I strongly understand that numbers don't lie. A powerful statistic and a very familiar one to business owners is "9 out of 10 businesses don't make it past year One", well what happens after year one? Another interesting statistic, half the business owners that make it past year one don't see year three and half of who makes it past year three don't see year five.... Why is that? During the starting phase of a business if you are part of the 9 out of 10 that doesn't make it, it's due to the fault of the person in charge, the business owner. You didn't work hard enough, weren't committed and were not putting in the hours. The only "silver bullet" in business success that I'm aware of is good old fashion Hard Work. SAME can be said by every successful entrepreneur I know. The problem with year 3 is our business outgrown us in volume. As an individual there are only so many meeting we can attend, so many calls we can make, so many things we can manage. If we don't duplicate ourselves, and in many cases duplicating ourselves several times, we will not keep up with the growth. When a demand exceeds the business structure, the business falls apart, which is why it's crucial to start training and developing a team right away, and the right people take a while to develop. If you ask yourself the question of, “How long it took us to learn a skill and perfect it?” If the answer is years, then why do we get frustrated with our managers if they don't get it right the first time and fire them?! We have to be patient and spend a lot of our time coaching, although sometimes we feel that time is better spend closing more deals. That's a huge misconception, training and developing a team is the highest ROI time we can spend in a business. Usually by year 5, the business owner is no longer working for money, but more for balance in life. At this point, we have to realize we don't need a job and the business is not built to create a job for the business owner, it's built to create jobs for others. If by year 5 the business owner doesn't have a manager that manages his team and a team that manages the customers, there is a high chance of the business owners to get negative with the business, which takes away creativity, and with lack of creativity, there is no passion, and without having passion, business dies, either right away or slowly till it becomes more expensive to maintain the business than to just close doors. There are a lot of moving parts to making a business work, but if I were to give anyone advice on what to focus on is this time schedule. Year 1 - Be the hardest worker with longest hours. Become what you are looking to recreate as far as future employees in the business. Year 2-3 - Since you are a machine, look to duplicate yourself. We always attract what we are, not who we want. So, if you are a hard and smart worker you will find a good team, if you don't, then you need to ask yourself if you are leading by example. Year 3-5 - One of your team members will shine more than the rest, put them in charge and train them on how to train others. Train the team to answer to the manager, so you only answer to your manager. It's much easier long term to answer to few sharp leaders within your organization than thousands of clients. At this point, the machine is running, you have lots of time to spend on other business ventures, hobbies, family etc. Your team is making lots of money and you have created good jobs in the community, and the business doesn't stop growing as you are not a one man show. 

Jie writes about influencers and startups in various industries. She is a designer turned techie, and when she is not writing, you can find her in her workshop working on her next big project.

Business

Interview With The Tangent Agency CEO, Marc Becker

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Tangent Agency
Going by the motto “It’s not who you know, it’s who knows you,” The Tangent Agency has worked on many large projects, including Despicable Me, X-Men, Deadpool, Fifty Shades of Grey, and many more. Leading Tangent Agency is their CEO, Marc Becker. He comes with 7 years of experience as an Executive in the Global Brand Marketing team at Universal Pictures. Working closely with filmmakers, stakeholders, and brands, he helped develop campaigns for films across NBCU/Comcast platforms. Marc joined Tangent after using them as a trusted vendor while at Universal and now oversees business operations working for a creative powerhouse. The Tangent Agency brings big ideas to life by creating innovative content for their partners.
Marc granted us an interview to give us some insight on business and offered advice for those looking to advance their careers. He tells us about their new leadership team and how AR and VR is having a moment. 

What is your day like as a CEO?

When you’re running a company, you have to a wear a ton of hats. I always joke that I should change my business cards to read “Janitor to CEO” because that’s really what I have to be. On a typical day we’ll have a team check-in to talk about priorities followed by picking what music or movie we should put on in the background. My music is usually vetoed so our CSO, Daniel, has been on DJ duty for the last couple months. From there, I’m usually joining calls with partners ensuring we’re clear on all their objectives and deliverables. In addition to the account management side of things I’ll work with the team on brainstorms for ideation and reviewing material before it’s sent out to the partners. Another big part of my day is usually working on business development whether it’s chatting with partners/collaborators or potential clients who could use our services. I’m also a big proponent of mentorship and sharing my experiences whenever possible, so I NEVER turn down an informational interview - I tend to do them pretty often. It sounds very business school-y, but now that we’ve hired a couple more members of the team, I’m looking forward to working more ON the business instead of IN the business, which will enable us to scale a little faster.

What makes Tangent Agency different from other agencies?

At Universal, I used to hire nearly every agency under the sun. At Tangent, we are both a creative partner and thought partner, and all our strategy is insight-driven. We work with some of the biggest brands and on the biggest franchises, consistently delivering the quality and the marketing product you’d expect from a major creative agency, but also offer some unique capabilities like Strategic Sales Materials, Franchise Development, and Mythology. Our partners turn to our design team to develop a visual identity for their properties bringing their brands to life. Just as importantly, Tangent leads the way in deciphering data and creating a compelling story to pitch the property, often from scratch. Franchise development, while a critical storytelling and brand development device, is still a largely untapped part of entertainment marketing, and Tangent’s team is some of the best in this field. By breaking down the complex nuances of your favorite films and television shows, the process of mythology provides an avenue and a lens into the backstories of the characters and plot points to help our clients develop endlessly engaging story universes. The Tangent creative team has been both on the agency side and the client side and are truly some of the best in the business. I continue to be inspired by them on a daily basis.

What are some of the best projects you’ve worked on?

We’re proud of all our projects and they each present their own unique challenges and opportunities.  We like to say we’ve worked on everything from My Little Pony to Straight Outta Compton.  I find it exciting to work on independent films and Academy fare projects as well as the big global blockbuster franchises like the X-Men or Jurassic World.  Our resident super-geek and CSO, Daniel Barber, loves all things sci-fi and superheroes so I’m sure he’d say Deadpool 2, Logan, and Speilberg’s Ready Player One are a few he’d cite. On a personal level, it’s been special to be working on some of the Universal properties such as Despicable Me and Fast & Furious.  We’re under NDA so I can’t say exactly what we’re doing on the projects, but I spent so many years at Universal working internally with the brilliant filmmakers and collaborating with my old team and everyone around NBCU to help manage those brands, it’s fun to continue to work on them in this new capacity.

Who are some influencers that you admire?

I’ve always been a fan of the humble way of life Warren Buffet continues to maintain. Bill Gates has not only built an incredible empire and wealth, but continues to baffle me with his work through the foundation and his charitable contributions. Zuckerberg seems to be following in the footsteps of Gates, and I admire his commitment to making the world a better place. Sheryl Sandberg has become a voice of a generation of women and I appreciate the work she’s done to help break the glass ceiling. I know I’m leaving a bunch of people off, but I think you can gather the overall trend - successful people that seek to make a difference in the world.

What advice has helped you the most throughout your career?

I’ve been extremely fortunate to have mentors champion me throughout my career and sprinkle many insightful gems of advice throughout the years. One piece of advice that has always stuck with me is from my old boss, mentor and friend David O’Connor, who runs Brand Marketing at Universal. He always used to say “don’t be afraid to ask questions.” Too many people let their egos get in the way of being inquisitive for fear that they will be perceived as unintelligent or ignorant. It’s important to be strategic about asking questions and know when it’s appropriate and when questions should be taken off-line, but I’ve found it incredibly valuable to “be real” and honest with the people around me in both my personal and professional life. If I don’t know something, I ask and I remember, and then I have the knowledge going forward. If there’s something that isn’t my strength, for example graphic design, I can leave the work to the experts and allow people around me to shine.

What are some business tips you can give to startups?

Don’t be a jack of all trades and a master of none. Know what you’re good at and be the best at it. Or don’t be the best at it, just make sure you know what your value proposition is. In regards to people looking to launch a startup, I can’t tell you how many times entrepreneurs, friends, peers, etc. come to me with a business idea they “can’t tell me about.” Odds are, the idea isn’t an original idea and someone else has thought of it - it’s all about execution. You absolutely want to do your homework and discovery, but too many people suffer from analysis paralysis and never pull the trigger. The only way to make things happen is to actually execute. If something isn’t working, don’t let ego get in the way of being flexible, and don’t be afraid to make a pivot.Another tip is to always consider the end user. These fans are real people who are passionate about whatever brand/product you’re selling. In today’s world with social media being what it is, everyone can vocalize their opinion and has a pulpit by which to express it. Whether you’re marketing a multi-billion dollar blockbuster franchise or selling from a lemonade stand, it’s important to consider your customers.

What are some recent company milestones for The Tangent Agency?

We rebranded and restructured the company 18 months ago with a new leadership team: Ben Taylor (CCO), Daniel Barber (CSO), Mat Guillen (Art Director), and myself as CEO. We just completed our first year with the refreshed company and have seen incredible results and continued growth. Another recent milestone is we’ve expanded our Experiential, AV, and Digital capabilities.

What will make this year better than last year?

We’ve carved out a great niche for ourselves as one of the industry’s best kept secrets, working a lot behind the scenes. This year, we’re excited about becoming a bigger player in the experiential world and working on more consumer facing materials. It’s only January and we’re already having productive conversations with some of the leading content creators and key players in new technologies such as VR and AR. TV and Interactive Gaming are both having big moments, and we are excited about the opportunities for Tangent to collaborate in both areas. We’re looking forward to expanding our relationships with existing partners and working with new ones.   
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How You Know A Co-Working Space Is For You

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Working at home is one of the best reasons to become a freelancer. However, there are people who work better when they need to get up and get dressed or when they are surrounded by co-workers. A group of people doing different jobs but working together in the same space is called co-working. Here are some ways to determine whether it's time to look for a co-working space.

You're Not Getting Work Done

Working from home is great but only if you get work done. This is perhaps the obvious sign that you need to find a co-working space. If you’re snacking every 15 minutes or you spend lots of time on social media instead of getting work done, you seriously need to consider a co-working space.

You Want Human Interaction

Humans are naturally social beings. Even if you hate some of your old co-workers, there is something about being about other people that can help you work hard throughout the day. You might not like some of your co-workers but sometimes it's nice to have somebody to complain to or chat with every day. If you find that you’re missing water cooler chats or if chat messaging is not enough, perhaps it’s time to look for a co-working space.

Your House Is Distracting

Your house has a bed, a TV, a fridge full of food and maybe your kids. All of these can be distracting especially if your kids need attention or if there's noisy construction nearby or when a telemarketer calls. Distractions also keep you from focusing on work and getting it done in a timely manner.

You Need To Meet Clients

Yes you house is cozy and warm, but is it really an ideal place to meet clients? What if your home is a studio apartment? Is there enough space for all of them to discuss matters comfortably? Co-working spaces have common areas like conference room where meetings can take place in a more professional atmosphere.

You Need Space

There are just some types of work where you need a big space. You might need lots of light, big windows or a big table or space for bulky equipment. Not all co-working spaces are big, but there might be something that can accommodate your need for bigger space.

You Need To Get Out Of Your PJs

If you haven't changed out of your pajamas for a couple of days, perhaps you need to look for a co-working space. Changing into something more professional could help you focus and become more productive.

You Need A Central Location

Your house could be out in the suburbs or somewhere not accessible to public transportation which can create logistics problem not only if you're meeting clients in their offices but for supplies deliveries too. A central location - which some co-working places have - is not only convenient to clients but for other matters too.

You Need To Grow Your Business

A home business is fine if you only have 1 or 2 employees. But what happens when you need to scale up and need more space? A co-working space can give you the flexibility to scale up or down depending on your needs. Depending on the co-working space, it can be for a small 1-man team or a 10-person team with access to a conference room.

Networking

When you’re in a co-working space, you are surrounded with other goal-oriented people. This is a good opportunity to network with them, learn their business or share thoughts. Having access to people in different industries can open new doors of opportunities.

You Need Work-Life Balance

Work-life balance is important but it can be hard to achieve for some people when you work from home. Chores, children and distractions make it hard to focus on work so it creates an imbalance by making it hard for you to work. When you’re in a co-working space, you can forget about your house for a while to focus work. However, you still have the freedom to attend to your child's PTA, go to the gym or pick up your dry cleaning.
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8 Benefits To Owning A Drone

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reasons to own a drone
Drones have become one of the most popular gadgets of 2016. It is used in different ways ranging from disaster relief to pizza delivery. Thanks to technology becoming more affordable, people are buying drones for different purposes. If you are thinking about buying a drone, here are some interesting ways it could benefit you.

Enhance Real Estate Photos & Videos

For realtors, the drone can be a godsend. It can help you enhance aerial photographs of a property and even do over head videos. In fact, using drones for real estate is one of the hottest ways to benefit from owning a drone. Using drones in real estate is one of the best ways to showcase a property. Plus, if other real estate agents don't have drones yet, you have a distinct advantage of showing potential buyers unique views of a property. Aerial shots will give potential buyers spatial information and give you an edge among potential clients.

Monitor Farms

If you're a farmer that loves technology, you can use drones to monitor your whole farm. Drones can bring information about your crops or herd. Use this technology to determine the health of crops and animals, how much pesticide or feed you need or where to apply it, or determine the best time for harvest. Drones can also be used to determine crop rotation to help maximize yield.

Better Photography Business

It seems that everybody with a camera these days instantly becomes a photographer. But if you want beautiful and unique shots, a drone can up your edge among the competition. Adding a drone to your arsenal can give you shots and videos that no other photographer has taken before. Not only are drones great for aerial photography, they are also used for weddings, parties, and other events to help photographers capture a bird's eye view of the occasion. Offering aerial shots of an event will ultimately become part of the package for many photographers in the future.

Map Your Property

Want to see what your house looks like from the air? Get a drone and find out. Many people love their home so taking pictures of it is perfectly natural. Drones can take high resolution photos, so you can frame aerial photos of your house to show guests.

Catch Corrupt Companies Red Handed

In Oak Cliff Texas, a drone captured a river of red. It turns out that a meat packing company was dumping blood in the Trinity River which led to multiple investigations. It helped stop the pollution of a body of water.

Up The Social Media Ante

If you're a social media addict, a drone can greatly improve your visibility and lead to more likes and follows. Many people do selfies with their cameras so why not add a twist to your usual selfie by taking it from a drone and uploading it to Twitter, Facebook or Instagram. This is a good way to become social media royalty and lead to money making ventures in the future.

Stunning Footage

You don’t have to be a professional photographer to take stunning photographs. In some cases, all you need is a drone. This is because an aerial shot is very unique and almost always awe-inspiring, no matter who takes it. If you want a unique photo or video of ordinary like fishing on a lake, make it into stunning footage by shooting it on a drone.

It’s Fun

Drones are fun. The FAA keeps on rolling out rules to limit what you can do with drones but it does not diminish the fun you have with it. Drones are fun not because of the FAA's limitations, but because man has always wanted to find out what it feels to fly. With drones, we can do this and see the world from a bird's perspective.
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