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Entrepreneurship: A Millennial Definition

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Female entrepreneur working late night at desk
What is entrepreneurship? Well, The word entrepreneurship has easily been one of the most sought after lifestyles in modern history. Some people think that entrepreneurship automatically brings a life of lavish things, constant travel/exploration, internet fame, dating supermodels, and short working hours. But before you get all of these "things," you just have to quit your job, sacrifice a few years of your life, and POOF. You get it all!So, what are you waiting for? Go on and quit that job of yours. DO IT! It's what you want, isn't it?Well, before you do all of that, I suggest learning more about the word entrepreneur. What is entrepreneurship and what does it truly mean? This article is a collection of thoughts that I have compiled into one beautiful love letter to the one word that has somewhat defined my life; entrepreneurship.

Let's start with the basics

Entrepreneur testing cardboard VR headsetThe business dictionary and most overused definition of entrepreneurship are defined as: "The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit."Now that we have the fundamental definition of what is entrepreneurship, we can further expand on the initial foundation. Like everything else, entrepreneurship is a journey. As Robert Frost eloquently uses a phrase in his poem "The Road Not Taken":
"Two roads diverged in a wood, and I—
I took the one less traveled by,
And that has made all the difference."
Entrepreneurship's journey can be summarized in three particular phases:

Phase 1: Buzzwords

Attractive female entrepreneur in white dress sitting in yellow arm chairAs a millennial, we can be easily influenced by outside internet celebrities. Famous figures like Gary Vaynerchuk, Tai Lopez, Grant Cardone, Lewis Howes, and John Lee Dumas. (Just to name a few) You watch their content on social media religiously, read about how they were able to become successful, and then begin to envision a life that is nearly identical or rather similar to theirs. You become so inspired that you begin creating content for your own social media platforms with cheesy motivational quotes from entrepreneurs of the past or worse, pictures of yourself with quotes said by you and then signed by you. As if you've accomplished something.SIDE NOTE: Think about it. How many people do you know that not only posts a ton of motivational quotes but have added their own personal signature within the social media posts? We can thank Gary Vay-Ner-Chuck for this one.

The New Meaning of Entrepreneurship

Selfish entrepreneur in blue suit walking down stairThe definition of entrepreneurship no longer has the same meaning. Currently, the definition of entrepreneurship is a person dealing with an egotistical battle of attention and primarily focuses on their own success and not the success of their team. A lonely journey of one's self-validation.At the beginning of your entrepreneurship journey, it's easy to get lost in the world of business and it's fun to fantasize about one's self-success. We as a society are obsessed with it. Early on, identify the things that you most want in life. Is it fame? (And if it is, that's totally cool. Just accept it and embrace it.)Do you want to bring change in the world? Do you want to run a successful company?

Phase 2: Finding Yourself and Obtaining Balance

Work life balanceUnderstanding your why or at the very least having a general understanding of why you're willing to be as crazy as you are, to quit your job to do the thing you love, is critical to one's success. This fundamental understanding will allow you the ability to motivate yourself when times get tough and you feel like quitting.Entrepreneurship is not fun. The highs are high (so high in fact) but the lows are depressingly low. It's a constant roller coaster ride filled with non-stop ups and downs, twists and turns stop and goes. Strangely enough, those emotions will all be experienced in the first minute of your day. Your mind tends to wonder, you feel excited, trying to further expand on your initial ideas from your meeting today, thinking about what you may have done wrong to get that new client, or even experiencing the success of obtaining a new client! (If so, congrats!)At the beginning of your entrepreneurship career, it's important to understand yourself and the need for balance.

Balance

No one ever truly knows oneself in the earlier stages in life and especially their career. But what is important is to have empathy. Not only for your peers but also for yourself. It's ok to fail. It's ok to not be where you want to be, but be cognizant that one day, you will get to where you want to be.Next is balance. It is so darn easy to work 20 plus hours a day. I still do it sometimes. But you need to find a way to let go of the computer and walk away from the work. Even if it's for just an afternoon. Find a hobby, fall in love with something other than work, and find a way to be romantic to yourself. Your own mental well being will give you the superpowers to achieve your goals.

Phase 3: Execution and Persistence 

Writing on notepad while reading analytic paperThe last piece of the puzzle and quite frankly, the most important part of entrepreneurship. You now have at least a few ideas as to what is entrepreneurship to a millennial.Execution and persistence are the hardest of the three phases. It requires the most refining and also the most amount of attention. If I could do it all over again, (and there is no way that I would want to, because it led me to this moment of my life) I would be more data-driven. Passion can only get you so far, but there will come a point and time in the entrepreneurship journey that you need to go off of numbers, analytics, and raw data.Being a more numbers driven organization will give you the know how to expand in the future. It will also give you the understanding of how you and your team may not have been executing. The best part about plans is that they change. But without the proper data and numbers, it's almost impossible to make an educated decision to pivot or shift your company without having that information. If you feel the need to learn more about entrepreneurship and want is entrepreneurship to other millennials, you can get advice from other millennials here. Written by a colleague of mine that influenced and inspired this article. learn what others 

Tips for The Entrepreneur Mind

  • Have A General Understanding Of Your Mission And Why: It's ok if you do not have it all figured out. However, there is a general theme of what you believe in as a person. If you don't have the next 25 years figured out to a "T' it's ok. Jot whatever comes to mind in your head on paper and get it out there throughout the universe.
  • Treat Your Company Like A Sports Team And Not A Family: I learned this from Tim Ferris' podcast with Reid Hoffman. Check it out.
  • Show Empathy: Don't be a robotic D-Bag. Give a crap about others.

Tips For The Entrepreneur At Home

  • Read Books And A Lot Of Them: I compiled a list of entrepreneur resources on my podcast that has a list of the most influential books that I have personally read. Head over to a Barnes and Noble and pick out books to read. There is a reason those books are located in that store. They are trusted, edited, and have the reputation of a quality story teller. My rule of thumb is that if it's in a B&N and has been recommended for me to read, then it's a book I need to read.
  • Stop Reading And Watching Content From Untrusted Or Unverified Resources/Publications: The amount of articles that are available online (especially this one) can completely derail or disrupt your day. Do not become easily influenced by content. Stay true to yourself and your mission.
  • Leave Your Ego At Home: You are not bigger than anyone else on your team and you are certainly not bigger than your company. Don't be comfortable with being the CEO of your company. Early on in your startup, a title is just a title. You can be called manager or even janitor, but what truly matter is does your team listen and follow your vision.
  • Understand Your Strengths And Go ALL In Once You Find Out What They Are: Once you have a general understanding of your strengths, then find out what your weaknesses are. Then hire individuals that can help fill that area.

Tips For The Entrepreneur At Work

  • Understand Your Strengths And Go ALL In Once You Find Out What They Are: Once you have a general understanding of your strengths, then find out what your weaknesses are. Then hire individuals that can help fill that area.
  • Get Mentors: This doesn't have to be physical mentors, but instead you can listen to success and failure stories from top story tellers. For me, I decided to create my own podcast. My goal in creating the podcast was to learn from others' mistakes and failures. The podcast has been the single greatest hobby that I have started to date. The amount of knowledge and the incredible people that I have become friends with has been life changing.
  • Speak Last And Listen Often: The truth of that matter is that your opinions and how you feel don't matter. The only thing that matters is morale of your company and the livelihood of those around you. Put yourself last and be the ready you read about online.
Now, go out there and do what you've been born to do. The fact is that if you've read this far, I haven't told you anything you did not already know. But to those who have read until the end, good luck.

Business

Top Cyber Week Software Deals for Digital Marketers 2019

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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.

1. Awario

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.

GET THIS DEAL

2. Penji

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.

GET THIS DEAL

3. ProofCred

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.

GET THIS DEAL

4. Poptin

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.

GET THIS DEAL

5. Senuto

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.

GET THIS DEAL

6. Avaza

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.

GET THIS DEAL

7. SEMRUSH

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.

GET THIS DEAL

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.

GET THIS DEAL

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Insurance Coverage For Your Business

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insurance coverage

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.

E&O insurance

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.

Auto insurance

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.

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Step Away From The Office To Boost Creativity

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innovative 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.

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