Lessons From Scott Gerber
1. Beware of "boss metrics"Macro trends are great IF they are based on the right micro trends. Macro trends can easily be manipulated to show a rosy picture while making major micro issues seem smaller or irrelevant. Ensure your KPIs align with your true performance.
2. Optionality is your life bloodYour job is to maximize optionality everyday in everything you do. There should never only be one path. In fact, try never to only have two potential paths. Always have a variety of obvious and non-obvious traditional and non-traditional options.
3. Bad DecisionsBad decisions are due to failures to ask the right people the right questions. Don’t be “surface level”. Ask follow up questions. Don’t mistakenly believe what you want to hear. Instead probe deeper on what you actually hear.
4. Two rulesTwo rules if your goal is to one day sell your business. 1) Be a revenue multiple company. 2) If you aren’t a revenue multiple company, see rule #1.
5. Anecdotal evidenceNever allow your team to use “anecdotal evidence”. First, anecdotes are not evidence of anything nor are they based in facts, science or statistical relevance. It's simply opinions on top of gut feelings and emotions. Poor decisions come from this sort of “evidence”.
6. Train with fake fires.Train with fake fires. Your company needs a good fire drill once in a while. What happens if you don't raise money? What happens if your biggest client fires you? Get smart people in the room. Figure out how you would disrupt your own business and solve the issue.
7. Never give a “definitive yes”...Never give a “definitive yes” to a contractual term without reviewing it in its proper context. A one line term can easily become 100 lines or be defined by 100 terms that you never agreed to. It can also mess up other terms if everything is not contemplated as a whole
8. Don't just listenDon't just listen to what's being said--listen to what is not being said. More importantly, listen to what’s not being said on purpose. People that try to sell you something are often expert in the art of mindful editing.
9. AutomatingAutomating humans out of a process still takes lots of humans. Don’t be fooled by the concept of “automating a system”. It often takes more man-hours, money, time and technologies than the task itself is worth. Look at the full picture before you invest time or treasure.
10. Follow the bonus.Follow the bonus. If you help others hit their financial goals, they are more likely to become an ambassador of your BD efforts with their colleagues. Building a partnership with someone who is top line revenue based versus quota based is different. Align incentives.
11. Never partner with adulterers or known cheaters.11. Never partner with adulterers or known cheaters. If they are willing to screw over their spouse, they will have no problem screwing you ten fold if it suits their needs.
12. Sell with a “2-for-1” mentality.Sell with a “2-for-1” mentality. Many companies get one big client name and are happy with that. BUT they forget the big client has dozens of divisions. One client could actually become 2 or 3 clients once you open the right doors. Don’t stop after the hardest one!
13. The 3rd partyDon’t let a 3rd party control your destiny, cash flow or your decisions. Whether you need an investment, a platform or a vendor, if a 3rd party becomes a vital piece of your plan you are taking a bet. Calculated bets can be smart, but don’t kid yourself. You’re making a bet.
14. Don’t be a conventional scheduler.Don’t be a conventional scheduler. We’ve been taught to think in blocks of time (ie 30 minutes). Why have a 12 minute meeting, then burn 18? Think in smaller chucks like 2 or 5 minutes. When you adapt to this, you're capacity and efficiency will dramatically increase.
15. The Final OfferKnow the final offer you’d take before the first offer. Before you do any deal, know your absolute last stand deal--the absolute worst terms you are willing to accept. Having that thought out beforehand will stop you from making bad deals that aren't in your best interests.
16. About AcceptanceDon't ram your model into new industries and assume the other side will understand it (or accept it). Engineer your model to adapt to the lingo, structures and terms of the industry. Make the numbers work using the financial standards of that industry.
17. Always be the first salesperson.Always be the first salesperson. If you don't know how to sell your product, no one will! Even if you aren't a professionally trained salesperson—or the tech guy!!—you need to learn to articulate your value proposition and see what people really need.
18. About Department HeadsHave your department heads always do every task in their department before they are allowed to assign it to anyone else. This will ensure that they know what success and failure look like beforehand.
19. About Sales MeetingsIn sales meetings, always ask more questions than you answer. Answer questions with follow up questions until you have the most amount of detail possible before you fully answer. Most prospects will TELL YOU what they need and how they want it. You just need to ask and listen
20. Know your team’s real capacity.Know your team’s real capacity. Break down your staff's tasks into units and total task costs. You would be shocked to see how “busyness” and real time communication gives the false impression of full capacity.
21. “Layer”“Layer” your business over time, not all at once. Layering new revenue centers is certainly smart, just don’t try to do it all today.
22. Buying into passion and enthusiasm can be a disaster.Buying into passion and enthusiasm can be a disaster. Don’t get caught up in hype and sexiness (or a good salesperson's spin!). Never make instant yes decisions no matter how good you feel. Even if they feel right, you should still do your diligence.
23. Train your brainTrain your brain to think about what is wrong, not right. What could go badly, not well. And why something won't work, not will. Your love for your idea, your process or your product can be your worst enemies.
24. Invest in the right systems BEFORE you scale.Invest in the right systems BEFORE you scale. Failing to create the processes and systems needed when things are manageable will become incredibly costly longer term—and more time consuming and tedious.
25. Rules of the DMExpect that anything you send via email or send via DM to anyone about anything will get out there and will be made public at some point. It will. Don’t be an idiot.
26. Surprise YourselfNo matter how “conservative” you believe your internal projections or goals are—LOWER THEM AGAIN. Surprise yourself, don’t be surprised.
27. Sell your way out of financial troubleSell your way out of financial trouble. The idea of “raising money” or “raising debt” is not a good mindset to be in if you find your company in a cash crunched position. You might end up getting financing, but relying on it is a fool’s errand. Sell! Sell! Sell!
28. Are your customers asking the same question twice?If customers ask you the same question twice, you've failed them. When customers ask a new question, write it down, formalize an answer, and find ways to promote that answer (eg FAQs, call center scripts, website, etc.) so that another customer will never need to ask again.
29. Never blindly listenNever blindly listen to someone who doesn't have to live with the consequences of the decision. Advisors are great but you must make final decisions. Getting an "I'm sorry it didn't work out" from an advisor without any downside won’t won't make you feel better in the end.
30. Unlock your entrepreneurial mind.Unlock your entrepreneurial mind With everything that happens around you, go beyond the surface and ask "why", "how", "is it the best", "what's better", and "how would I do it." Feed on curiosity and your ability to ask great questions will be sharp when you need it.
31. User adoption isn't simple or guaranteed.User adoption isn't simple or guaranteed. Changing user behavior is not easy. Remember: everyone is busy (life, family, work) and you want to add yet another thing. Remove as much friction as you can. Save as much time as you can.
32. Shut up after yesOnce you've got a 'yes' shut up and stop trying to further sell. You can't go further than a win, so shut up. I’ve met more than my fair share of people that lost deals because they kept selling past the ‘yes’.
33. Everyone always has an angle.Everyone always has an angle. Know the angle before you react to the situation. Don't end up a pawn on someone else’s chess board.
34. Community is crucial.Community is crucial. The power of association and coalition is more powerful than being a lone wolf. Build one. Be a big part of many. Give more than you take (and don’t be a taker or a sleepy networker!).
35. A Quote to End Them AllLive by this quote from one of my mentors and you’ll be better for it: “You can’t cheat real time. And real relationships take real time.” With my addition: “But your job is to find ways to cheat your time to create more real time.”Here's to liven out that last quote. Thanks for the free advice Scott and Happy Birthday.
Top Cyber Week Software Deals for Digital Marketers 2019
Just when you thought all the best deals were on Black Friday, we've just found some even sweeter deals for those who missed the rush this weekend. Welcome to Cyber Week, a week full of even more sales and discounts ONLINE.
Being a digital marketer is already a tough position. That's why there are so many management software and tools available to help your day to day job. Marketing tools can get expensive. Here are some of the best Cyber Monday software deals on marketing software you don't want to miss.
Social media monitoring doesn't have to be a hassle this year. With Awario you can stay on top of all your social media mentions, monitor your competition, explore new influencers, and engage with your audience all on one platform.
The deal: 50% off plan. No promo code needed.
Marketers should be doing marketing, not design. I've never enjoyed designing infographics, newsletters, and marketing materials. And thank goodness we found Penji. Penji is a graphic design service that lets me work with a vetted designer on as many design jobs as I want - for a flat monthly rate of $369/m.
Hiring someone for one-off projects usually runs anywhere from $300 - $1000 per assignment. We can usually squeeze in 8 - 10 design projects per month. At $369 for 8 - 10 projects - that's a steal. But if that deal isn't good enough they're having a Cyber Week Special.
The deal: 30% off every plan - EVERY MONTH! Use promo code CYBER30. Code is limited to the first 100 customers. Valid from now until 12/6/19.
If you're selling products or services online, you'll know how important conversion is. ProofCred helps websites convert more visitors into customers by utilizing social proof notifications such as conversion counter, visitor count, recent activities, coupons, and more.
The deal: 70% off all plans. No coupon code needed. Just go to the website. Deal expires 12/7/19.
If Proofcred alone isn't enough to help convert more sales, then combine that deal with Poptin. Poptin is a digital software that can help your website's conversion by monitoring visitor's behavior and displaying the right messages at the right time instead of just one annoying popup that comes up every time asking for their email.
The deal: Get 30% off for 3 months with promo code POPTINBF19. Deal expires 12/5/19.
SEO tracking and content marketing are usually on separate platforms. Not anymore, thanks to Senuto. Upgrade your SEO tracking and content marketing planning with Senuto.
The deal: Get 40% off annual plans with promo code BLACKDEAL19 (it's a Blackfriday deal that carries over into Cyber week). Keep in mind, it's for ANNUAL plan, not monthly. Deal expires 12/6/19.
Running an agency or a team of digital talents can be difficult. Avaza makes it simpler by integrating all your favorite tools into one platform. With Avaza you get project management, time tracking, scheduling, quotes, invoices, and comprehensive reporting all under one roof.
The deal: Get 50% the first 3 months on ANY paid plans with promo code AVAZABLACK2019.
If you're a marketer who's dabbled in SEO, then you've already heard of SEMRush. It's one of the most comprehensive, robust, and accurate SEO tools on the market. Take your SEO marketing and managing to the next level with this special deal.
The deal: Get 40% off GURU plans and 2 articles. No coupon code needed. Deal expires 12/6/19.
8. Appy Pie
Have you always wanted to get an app developed but don't have the coding expertise to get the job done? Appy Pie lets you create your own app without any programming experience. You can create fully functioning ios/android cross-platform apps easily with an intuitive front-end user interface.
The deal: Get 70% off. No promo code needed. Deal expires 12/8/19.
Insurance Coverage For Your Business
If you are running a business, you must insure it. You should understand what kind of insurance coverage you need for your enterprise. If you have a consulting business, having a proper error and omissions (E&O) insurance is important. You should purchase a general liability insurance if you want to take the lease of a building. Small businesses have a lot of things to protect.
Property Insurance coverage
You have tangible things to protect, such as machinery, merchandise, etc. There can be natural calamities like flood or earthquake. There can be major fire accidents. A fire can destroy all the machinery, and you need a replacement. The insurance should specify in clear terms that how much coverage they will provide in case of any accidents. In general cases, the property insurance covers business building along with inventories, furnishings, etc. It can also provide coverage to equipment breakdowns and the cost of removing debris.
General Liability coverage
You must purchase a general liability insurance for your enterprise. This insurance covers your products, completed operations of the company and premises operations. If you rent a building and one of your employees falls, you will be covered. If you are into a restaurant business and someone gets food poisoning, you will be covered.
This insurance is also called the professional liability insurance. It is important for the people who are in the consulting business. If your consultation does not meet your client’s requirement and your client sue you, you will be covered by the legal fees and defense costs.
Worker’s compensation insurance
If you have employees in your business, you need to purchase worker’s compensation insurance. The cost of this insurance depends on your residing state. You should remember that worker’s compensation insurance is subject to audit.
If you own a vehicle for your company, you need to buy auto insurance. You should add a hired and non-owned automobile liability rider. Auto insurance is important if you face any accident when you or your employee use your vehicle during working hours.
Cyber Theft of your business bank accounts
Every year huge amounts of funds are stolen from different accounts through cyber hacking. You need some protection to save your business from this financial crisis. There is a new kind of insurance in the market to cover you from cyber theft and fraudulent wire transfers. Consult your insurance advisor to know more about the insurance policy.
Small business data compromise insurance
If you are running a small business, you need to protect your vital data from getting leaked. This insurance helps protect your company’s reputation of your customer’s personal data is stolen or your employee’s information is compromised from your business side.
If you have a home-based business, the homeowners’ insurance policy usually provides very limited coverage for tools and equipment damages and business related property. Consult your insurance agent to understand each point of insurance coverage. Decide which insurance is more appropriate for your company. You can also consider buying more coverage to protect valuable data.
Step Away From The Office To Boost Creativity
We have all faced a situation where we came across a mental block. We try to come up with an innovative idea or try to solve a problem, but that just does not happen. Hours of hard work at the office, meetings, or even dedicated effort in your office cubicle has led to no real positive outcomes. Then, after all that effort and frustration, you decide to take a break, go out of the office for a meal or drink, watch your favorite movie, or even choose to take a nap. Suddenly, creativity hits you, and everything falls into place as a result of which you see a clear solution to the problem lying in front of you. This “Eureka” moment solves all your problems in a jiffy.
The main reason behind this is that if you always focus excessively on the task that is given to you, then your brain won’t be able to come up with interesting and unique solutions to your problems using the information stored in your memory. By taking a break from your routine (in the form of a walk, drink, or a nap), your brain is given the freedom to explore and search for possible solutions. So, whenever there is a problem which needs to be solved, let your gray cells relax and concentrate on the task at hand.
Some of the reasons why you should take a break from your monotonous office life are:
It improves your creativity to a large extent
Whenever you realize that your creativity is not flowing out, you should definitely take a break and move out of your office premises. One of the best ways to be inspired and remove your creativity block would be to visit some new location. So, whenever you are unable to come up with any solution, having a meal outside could be one of the best options.
It is profitable for the business
If you leave your office due to a creative block, then coming back with a fresh chain of thought will definitely boost your productivity. This, in turn, proves to be very beneficial for the business you are working for. You can also easily tag your meal as a business expense which would make sure that your bottom line is always healthy.
It is the best way to know your peers
While you are working hard for eight hours in your office 5 days a week, it might take a toll on your health as well as your working relationships. Spending some time with your co-workers and getting to know them better away from all the work related stress will be beneficial for your mind as well as the body. One of the best ways of doing so would be by socializing outside your office. This would result in the development of new relationships and friendship and at the same time reducing your stress and refreshing your mind.