Categories
Business Trends

How Coronavirus Affects Your Business

Coronavirus has made its way to the U.S. And the CDC recently released guidance for businesses that are concerned about its potential impact.

Coronavirus, also known as COVID-19, is a virus that causes a wide range of symptoms. Mild cases include cough, shortness of breath, fever, and respiratory issues. Severe cases can lead to viral pneumonia, which cannot be treated with antibiotics. It’s part of the coronavirus family, which has mainly impacted animals in China to this point. It has since spread to several countries around the world, including the U.S.

For businesses, the spread of coronavirus may also impact the workplace. It’s possible that your employees may need extra time off to get medical attention for these symptoms, or to care for loved one who have been affected.

However, it’s usually better to deal with a few absent employees than the alternative. If people feel pressured to not miss any work and an infectious disease spreads around your office or facility, employees may miss significant time and put others at risk. For the good of your team, customers, business, and the community, it’s best to exercise caution when it comes to employees showing symptoms.

The CDC statement reads, in part, “All employers should be ready to implement strategies to protect their workforce from COVID-19 while ensuring continuity of operations. During a COVID-19 outbreak, all sick employees should stay home and away from the workplace, respiratory etiquette and hand hygiene should be encouraged, and routine cleaning of commonly touched surfaces should be performed regularly.”

What Small Businesses Can Do Now

More specifically, the CDC recommends that businesses adopt flexible sick time policies and avoid making employees adhere to limits or obtain doctor’s notes. Place posters or literature around your office or business to explain any policy changes to employees and make sure they know to take time off and let a supervisor know, if needed. You may need to take alternative measures to make up for a potential loss of man hours, like outsourcing or asking some team members to be on-call.

The agency also stresses the importance of proper hand washing and environmental cleaning. So make sure sufficient cleaners and hand washing stations are present around your facility.

The coronavirus outbreak could prove potentially even more troubling. Especially to business owners or professionals who travel on a regular basis. Do you or a team member take frequent trips? Heave they flown recently to countries where there have been outbreaks? Then look out for symptoms. And contact a healthcare professional right away if you experience any.

Overall, businesses need to take the risks of coronavirus seriously. And plan for potential absenteeism. This may become necessary if employees need to get medical attention. Or if they need to assist sick family members. However, the CDC also notes it’s also important to maintain confidentiality. Protect the privacy of those who may be dealing with coronavirus symptoms. And never make determinations based on other factors like race or country of origin.

What Your Small Business Needs to Know About Coronavirus and What You Should Do Now [SmallBizTrends]

Categories
Sales & Marketing Social Marketing

Incorporating Tik Tok Into Your Marketing Strategy?

So, it’s 2020 and you finally figured out using Facebook to market is a great plan. You may have even added Instagram, Twitter, and Snapchat. But, as is standard in the world of Social Media there is a new platform to understand. Enter TikTok.

What the Heck is TikTok?

TikTok is currently the fastest growing Social Media platform of the 2010’s.

TikTok is a video-sharing social networking service owned by ByteDance. It is used to create short lip-sync, comedy, and talent videos. (Wikipedia) The minimum age for a user is 13 years old. Users can sign up using Facebook, Instagram, Twitter or an email account.

“Lip-syncing videos have proved a popular form of user-generated content among teens.” (WebWise.ie)

TikTok Advertising

TikTok is already offering advertising placement. Providing businesses “engaging and interactive formats for your brand story” and touts tapping into unique ways to connect with an audience.

TikTok drives advertising on competitor platforms. Additionally, TikTok allows sponsoring hashtags, which allows users to brows products associated with the sponsored hashtag without leaving the platform.

3 Reasons You Should Incorporate TikTok in your Marketing Strategy

1. Build a Community

Users consume most content through videos. You should consider users as a part of a community that shares ideas, invokes interested of like-minded people and grow your following using Creating an engaged, interested, and active audience of potential customers.

2. It Doesn’t Feel Like Marketing

Generation Z does not like to be pestered with ads or the direct sell, so much so that 51% of them use ad blockers. When targeting this generation traditional marketing techniques will not work.

3. Establish User-Generated Content to Market

Millennials value authenticity and the opinions of their peers or influencers. They are fully aware of marketing tactics and will not fall for these traditional ploys. They look to user-generated content for suggestions of what to purchase and what services to use.

TikTok is the biggest source of user-generated content and it is the shiny new object, which draws even more attention to the platform.

It’s Going to be Big

TikTok is on track to be one of the biggest Social Media sites in 2020. Though it is new to the Social world, it could possibly dominate as the top Social Site in 2020.

Currently only 4% of Social Marketers in the US are using TikTok, now is the time to dominate the site!

Though your targeted consumer may not be using TikTok yet, it is important to note that as the popularity for this site grows, your consumers will eventually migrate over. Will you be there?

3 Reasons You Should Incorporate TikTok into your Marketing Strategy [Business2Community]

 

 

Categories
Business Trends

Authenticity Is The New Edge

Clients, customers, and employees all share one unique quality: being human. As human beings, we know when someone is being genuine as opposed to speaking “corporate talk,” mouthing the words that relegate us to being a number rather than an individual.

We know the difference between rote, systematic adherence to policies and procedures and addressing personal needs with interest and compassion. We know when someone is being authentic. We know when they’re being real.

One of the greatest competitive edges in business today is authenticity. Professionals and companies that encourage practices based on this authentic truth immediately differentiate themselves from the competition.

The Strategy: Be Your True Self

In life, as in business, our feelings impact our decisions. Years ago, when purchasing an automobile, I decided to avoid the tumultuous dance of a salesperson having to “check with the manager” over and over again to win the sale. Before walking into the dealership, I put time into research and was competent and knowledgeable about my purchase. Rather than go through the car-buying tug of war, I gave my price and said, “Take it or leave it.”

Since that time, I’ve incorporated this method into many areas of my life. Today, this take-it-or-leave-it strategy has transformed into “Here is my true self. Accept me or not.”

For many years, I played the part of who I thought others wanted me to be: the high performer, successful executive, strong male figure, breadwinner, husband, and father. Years of subduing my true self brought only unhappiness and a sense of dread. I felt a falseness that others would pick up on, a constant undercurrent in our interactions. When I was able to start sharing my real self as a unique and loving person, people around me began to have a very different experience.

While better products, improved customer service, and operational excellence are important attributes for a successful organization, authenticity separates the “good” from the “amazing.” It’s at the heart of the work we center on in supporting our clients and the companies they lead. Dare to be honest. Build strong ethics and integrity for yourself and your organization. Authenticity changes the playing field in a big way.

Here are five reasons to gain this competitive edge:

1. Authenticity ignites human connection

Human beings are highly complex, superconductive, electromagnetic miracles. The flow of positive energy increases when we are honest and genuine. You are never better, stronger, more creative, or compelling than when you are your true self. The energy you possess and emit connects you with your employees, your customers, and those you care for.

2. Authenticity opens the door to vulnerability — and unity

When we are vulnerable, we drop the false trappings of title, status, and formality. Human beings want to connect. Living in a way that’s open and honest, even while acknowledging your shortcomings and mistakes, is life-affirming and builds unity. Great leaders show their humanness, dropping the corporate guard and standing with those being led.

3. Authenticity allows you to learn about others, including your customers

If you live your life on the fringes—always being afraid of opening up, letting fear be the guide as opposed to love and compassion—you miss out on the wonderful experience of learning and knowing others on a deeper, more meaningful level. Being authentic creates room for others to do the same. Leadership is best delivered by modeling what you seek from others.

4. Authenticity moves you into the present

When you decide to show up as the real you, you have consciously moved into present, into a realm of real-time connections. Here, you are better able to make informed and enlightened choices, ones that uplift you and others. When you live in the present, you experience one interaction at a time despite the disruptive nature of a rapidly evolving digital world.

5. Authenticity changes your world perspective

When you no longer need to hide behind what others want you to be, say, or do, you put aside falseness and lies and open up to a world of endless and positive opportunities. Try it. You just might like it. Step into the full version of yourself.

5 Reasons to Be Real: Authenticity is the New Competitive Edge [Biz2Community]

 

 

Categories
Success Attitude

4 Habits Of Millionaires

I’m humbled that my career as a penny stock trader has helped earn me the title “millionaire,” and I’m even more blown away to count two of my students among the ranks of this elite club.

Having worked my way up from a few thousand dollars in bar mitzvah money to a few million has given me a unique perspective. I know what it’s like to start out with no big advantages, but I’ve also had plenty of exposure to the unique way millionaires think and act.

As a result, I’ve been able to see what they do differently and how they both earn the big bucks and protect their financial positions. I’ve applied all of these principles to my own life, and if you aren’t currently where you want to be financially, I recommend you do the same.

1. Millionaires work hard.

The “get rich quick” thing is such a cliché, but the thing is, it’s rarely ever true. We all see startups earning million dollar valuations, but the real story is that their “overnight success” was ten years in the making.

Millionaires aren’t afraid to work hard, and they take advantage of the principle of “success begets success.” When you have a few small wins, you build on them. You take the next step and you keep plugging away, because you’ve had a taste of success and it’s great!

I hear from a lot of trading students who are looking for a way to make a few quick bucks trading penny stocks, and I always have to disappoint them. There are no secret “hacks” to building generational wealth. There’s only hard work, discipline and a willingness to push ahead through any circumstances.

2. Millionaires have clear goals.

Do you know why millionaires are so willing to work hard? Sure, experiencing regular success helps, but it’s also because they have clear goals.

Let me give you an example… Which of the following statements do you find to be more motivating: “When I get rich, I’m going to buy a nice car?” or “When I get rich, I’m buying a cherry-red Lamborghini Aventador LP 750-4 Superveloce?”

Which one do you think will motivate you more to do the hard work required to become a millionaire?

When I was in high school — when I got my start as a stock trader — I had a poster of a Lamborghini hanging on my wall, because that’s what I was working towards. My dream was so clear I could practically feel the wind whipping around my face as I showed off my sweet ride to my envious friends.

That’s the kind of goal you need to have if you ever want to be successful. If your current goals are a bit lackluster, whip them into shape to continue down the path towards becoming a millionaire.

3. Millionaires are willing to fail.

Being afraid of failure makes you overly cautious. If you’re constantly afraid of failing, you’ll miss out on the opportunities that present themselves to you — all because you were too scared to move forward.

Millionaires take a different approach. Instead of being afraid of failure, they welcome it. They see it for what it is, a chance to learn valuable lessons that show you the way forward.

Sure, you’re not going to go out there and deliberately fail. That would be stupid, whether you’re an entrepreneur, a penny stock trader or some other kind of professional.

But when you do fail, and it’s virtually guaranteed that you will, try to learn what you can from the experience. Yes, it’ll sting, but if you use your failures as opportunities to improve yourself and your business, you’ll eventually become fearless in the face of the smart risks that’ll make you a millionaire.

4. Millionaires have successful mentors.

I have to tell you, if I’d had a good mentor when I started trading penny stocks, I’d have been a millionaire years sooner. I was figuring everything out on my own. Learn from my mistake!

A good teacher can cut years off your learning curve and save you huge amounts of money. A mentor can’t do your work for you, but they can keep you from making the same mistakes they made – and that’s a pretty priceless lesson.

I look at the two millionaire students that have come out of my Millionaire Challenge trading program, and I see that both of them have hit the seven-figure mark in just a few years by leveraging lessons that took me much longer to learn. Their examples prove to me that no matter who you are – and no matter what you’re doing – you’ll benefit from having a successful mentor at your side.

4 Habits of Millionaires That Work for Everyone [Entrepreneur]

Categories
People & Relationships

Elitism Is A Taboo In Entrepreneurship

Take a boat along the intracoastal waterway near Fort Lauderdale and you’ll see lot after lot of mega mansions lined up along the canal, all grand in scale, all perfectly landscaped, and all, despite minor architectural details, very much the same.

Except for one.

There’s an old barber chair sitting atop a lawn in front of one of those houses. It’s smack in the middle of the yard, like one of those faux-classical statues people put up to tell you they have faux-class. The chair is meant to be a focal point, eye-catching and incongruous. It is what you’d imagine, with that typical leather — so distinctive I was once told the color is known as “barber-chair red” — that, while faded, still seems to carry the pride of its hue, despite tears and bulges along its seams.

It makes no sense to be there, until you see the sign on the seat.

It reads: “My dad is a barber from Brooklyn.”

Whoever owns that house wants the world to look not at what he was able to accumulate through what he accomplished, but rather what sacrifices, values, history and ethics drove him to accomplish. Suddenly, the centerpiece of his entire home makes sense.

Where we come from is as important as where we are. We talk a lot about the power of the individual, but we are the creation of those before us. More than that, we are the product of the work we do, and the work done on our behalf, today, in this world. In that sense, all work should be celebrated and learned from.

Yet, sadly, there seems to be a cultural elitism that often downplays the work of some over others. Look at the shameful dismissiveness of the hosts of The View when they mocked a Miss America contestant for wearing her surgical scrubs and talking about her experience as a nurse. At the heart of that wasn’t just ignorance but also an elitist attitude, a side effect of media fame that all the dedicated nurses in the world couldn’t treat if they had to. And the some-of-my-best-friends-are-nurses apologies given after just enhanced how out of touch the hosts were.

This elitism is found too often among entrepreneurs, particularly in tech startups. The myopia, the drive that fuels people to take risks, often creates great companies and great products, but it also cultivates a solipsism that assumes the work the entrepreneur is doing, and the way in which that work is being done, is the only important undertaking in the world. So, while nurses are saving lives, or police are risking theirs to keep us safe, idiots with matching t-shirts think they’re saving the world with an app to find the nearest ice-cream truck.

Entrepreneurship itself isn’t to blame, obviously. The culprit is found in the attitudes born from it. While entrepreneurship is rightly celebrated, we often view it through too narrow of a lens. For one thing, we focus too much on technology, as if tech trumps all other startup activities. The Pantheon of entrepreneurs is made up mostly of folks like Steve Jobs, Elon Musk, Bill Gates, Jeff Bezos and the like. Technology, after all, solves all of our problems.

We’re even pushing policies designed to give our country more engineers, like coding programs for disadvantaged youth, telling them it is the golden ticket to success. Reality is more complicated. Look at the most obvious flaws of this push to code. While there are opportunities — the gender-pay gap doesn’t exist in tech, and salaries in engineering and programming generally are higher than many other job categories — applying first-year economics to the scenario results in finding that the reason programmers command such high salaries is that there is a scarcity of talent. Get a more available supply of workers and the demand for their work goes down, as will compensation.

What’s more, tech startups aren’t so much a golden ticket as a subway pass to a revolving gate of jobs that often lead nowhere. Nine out of every 10 businesses fail in this country. Startups become closeups every day. It’s a fact of life. We don’t tell that story enough. Instead, many people in these programs are being brainwashed into thinking they’re on track to be the next tech billionaire, when, in reality, they will have a better chance of finding themselves chronically looking for a another job. Coding is not entrepreneurship, but a path to a trade. Nothing more.

That’s the big problem, and what makes elitism surrounding entrepreneurship so asinine: “Entrepreneur” is not a career. Entrepreneurship is a calling, not a job. It is an effect not a cause. You can be a business owner and not be an entrepreneur, and you can be an employee of a company and be entrepreneurial. Coding skills, Warby Parkers and the latest craft bourbon are not required. Obnoxious attitude and cultural elitism are not welcome.

What changes this mindset? Understanding our roots. The barber whose children went on to success cut hair each day. It may seem mindless to some, but it isn’t. There’s skill in that trade, even if it doesn’t require a master’s degree. That job gave this barber’s son an example of work ethic, dedication to craft, the benefits of experience. Those values, those principles, those lessons stuck and became seeds that yielded success and wealth for his son, who was wise and thankful enough to honor him with that chair on the lawn. If he owned his own shop, that barber probably thought of himself as a business owner, and that gave him pride, but not arrogance. He never would have called himself an entrepreneur, but he should be the model of one.

When I meet someone, I like to ask not just what they do for a living, but what their parents did. It tells me a lot to see whether they respond with pride or some sense of shame. My mother was an X-ray technician. My stepfather was career Navy, retiring after 30 years as a chief petty officer. Neither went to college, and my field of study never came close to health care or the military. (I still gag at the sight of blood, and we’d all be speaking Russian if I had ever enlisted in anything more vital to national security than the Salvation Army.) Yet the values I learned from them were meaningful. I honor that by trying to respect the people who do jobs I often fail to think about: police, health worker, tinker, tailor, soldier, bartender.

None of this means we shouldn’t strive to accumulate wealth. Success is a beautiful thing. It should be celebrated. Too often, success is vilified, or even punished. We live in a time of demonization of the wealthy, where people rail against a mythical 1 percent who hoard assets, demading redistribution and insisting on equal outcome rather than equal opportunity. Ironically, even the wealthiest are doing it, too. In the current presidential race, we have a Yale-trained lawyer who charges $200,000 a speech fighting a real-estate billionaire over who is the bigger champion of the middle class.

Truth is the middle class doesn’t need a champion. The middle class is a champion. Only elitists don’t understand that. The hard work of Americans drives our capitalist system. Each day, people work hard, to support families and their communities. They have the power to define what success looks like to them, and, more often than not, it has less to do with money than lifestyle. Along the way, a nurse might invent a new kind of stethoscope, a plumber might create an easier-to-install valve, and entrepreneurs — real ones — are born. That combination of experience, hard work and critical thinking is just as valuable as a Harvard MBA or a spot in the latest accelerator program.

Rather than fall victim to the creeping elitism that tends to define startup culture, or emulate tyrannical management practices of icons like Steve Jobs, a moment of humility helps. We are the product of the work of those who have gone before us, and our successes — our freedom to innovate, take risks and manage our lives — come when our labor is matched with the labor of those around us, whether they work at a hot tech startup or serve us coffee from the cart in the morning. Capitalism and free markets teem with a variety of businesses, opportunities, needs and experiences. Entrepreneurship is an important part of that ecosystem, but it is just one part of the economy, no better nor more noble than others. Remembering that helps us stay grounded in our mission to create, assist, build and disrupt. It also makes us better people.

All of us seek advice and inspiration as we strive to improve. Sometimes I wonder, though, if the entrepreneurs we worship are false gods. Apparently, all of us could have learned a thing or two from a barber from Brooklyn.

Elitism Has No Place in Entrepreneurship [Entrepreneurship]