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Monthly Archives: May 2016

Time Management Tips

time-managementWhen I meet effective businessmen who are at the summit of their vocations, the one thing they all desire they had a greater amount of, is time.

Time is the immense equalizer.

At that point why is it a few people can complete twice as much in a fraction of the time, and others are falling behind constantly pushed and seeming like the rabbit in Alice in Wonderland saying, “I’m late, I’m late for a critical date”.

Yes, there are insider facts for how to deal with the seconds, minutes and hours that make up the twenty-four we as a whole get every single day.

First, you need a strong dose of determination to stamp out the procrastination that shows up for just about everyone in one shape or another. Do you start with the easiest tasks to get them out-of-the-way and then feel the need to sprint to get the more important projects finished? Or do you take the hardest one and suddenly it’s time for sleep, and all the little “to-do’s” stay trapped in the long list of forgotten items until that “oh crap” moment, when they finally get the long overdue attention.

Here are some of the ways to get past time anguish

I recently interviewed a man ready to start his third new company. He has lots of money now and could relax and coast. I wondered why he was putting so much effort into another new business. He said he is an adrenaline junky, for one, and then he gave me the clue to great business success.

“Learning how to play the game of time management” he said was his biggest failure in the first company and the biggest success in his second company.

Here are the 5 best ways to get time to be your servant and not your master :

# GTD Method: Thanks to Dave Allen’s book, Getting Things Done, you have just about the most complete guide to making time work quickly and easily. His themes are to capture, clarify, organize, reflect, and engage. First you record what you have to do and break down to actionable work items. His whole system is clear and concise and his book has been a winner for years and years. Find at http://gettingthingsdone.com/.

# JOS Pattern Breaker: The hypothesis is that in business we are here to solve problems and that is good. However, once the same problem keeps occurring time after time it is now a pattern. This is where lots of time and aggravation show up. Patterns keep repeating because of outdated assumptions. The OUT technique is meant to help you find easy to be more effective ways and get to the heart of the pattern repetition. Check out www.ceoptions.com for more information about pattern transformation.

# Time boxing: Divide schedules into separate time periods, called time boxes. Each has its own deliverable deadline and budget. In this way you can keep your eyes on the clock. The increased pressure is actually good for you. It leads to better task focus. You can learn more at www.timeboxing.com

# Pomodoro Technique: This is even better. Once you have the basics of time boxing under you go to this method, which is based on having 25 minute time boxes of focused concentration separated by a 10 minute break to allow your mind to recover and be ready for more intense thinking. You start a timer (you can get one shaped as a tomato–Pomodoro in Italian) at the beginning of each focused work time. And in just setting the timer you are already showing your determination to follow through. It works. Go to www.pomodoromethod.com

# Tickler file: Data labeled file folders that are organized as an up-dated electronic to-do list. It is good to keep your memory sharp in this day of data overkill. This will help you accelerate your workplace flow and keep you from suffering information overload. Think of it as a memory tickler. Check out Merlin Mann’s website www.43folders.com

The more you begin to look at time as an ally the more effective you can be. Capture time and capture success.

Tips to Build Relationships with Investor

build-relationships-with-investorBusiness enterprise is diligent work. I’ve been in the trenches of establishing innovation organizations since 2001 and have brought over $40 million up in subsidizing for my two organizations SVOX and Pixability. I’ve discovered that one of the hardest parts of business enterprise is dealing with a financial specialist’s desires for you and your organization. Be that as it may, through clear, genuine, and successive correspondence with financial specialists, you as the business person can guarantee the proceeded with their backing of your vision.

Here are tips to build relationships with investors :

# Prep well

Managing investor expectations begins with preparing well. Your business model should dissect the market in depth. It can be difficult, but investors will expect your model to be thorough in estimating your addressable market. For example, investors get irritated if you claim to be going after a billion-dollar market and then claim “we only need to capture 5% of the enormous market” without showing what 5% of the market you will concentrate on.

# Don’t communicate when you are down in the dumps

When communicating with investors, it’s important to be clear and level-headed. As entrepreneurs, we’re often riding the emotional ups and downs of the “entrepreneurial roller coaster.”

But when managing investor expectations, the tone of your reports should be steady and honest. Also, take care to address what you’re going to do to improve your business. At Pixability we learned a few years after our founding that our video marketing data was actually more useful and monetizable when we used it to place video advertising. That was a scary pivot into a – for us – unknown market but our investors backed the change because we had frequently communicated our thinking along the way. Investors won’t be disappointed if you have to change direction as long as you don’t change direction every week. While you’re keeping your investors informed, don’t forget about courting new investors for the next investment round. Prospective investors want to understand how your company is evolving long before you ask for their money.

# Don’t expect a check immediately

Don’t expect a check after the first meeting, or even the next. Investors are trying to get a read on you and how you conduct your business. When meeting with investors make sure to listen and write down their input. When going out for fundraising, I’ve always adhered to the maxim “ask for advice first, money second.” You don’t have to take all of their advice, but if you do, thank them for it — people love to hear that their advice was valuable. Then keep that conversation going. At Pixability, I kept in touch with an investor for 3 years (since our A round) before they eventually invested in our $18 million C round.

# Once the money hits, the management doesn’t stop

Once an investor cuts that check, managing expectations only becomes more critical. Get in the habit of updating your numbers regularly. It’s never too early to be disciplined about your company’s metrics — not only are they important to you as a benchmark of progress, they’re important to your investors as well. Also, while sharing good news with your investors is essential to managing expectations, it’s important to report difficulties as well. For example at Pixability, I maintain communications with our largest investors with frequent calls plus a monthly written investor check-in, with a rundown of what’s working and what’s not.

# Boil it down

However, investors don’t want to get into the weeds immediately — you first need to be able to describe your business potential succinctly. By coming to the table prepared with a detailed, comprehensive business model, but one that you can summarize effectively, you can manage how investors begin to think about investing in your company.

# Be clear when you will need more money

Lastly, clear and frequent communication is important when you need more money. Start fundraising early, at least six months before you need the cash. Nothing is worse than having to turn to investors with no runway left. By staying proactive in understanding and communicating your runway, you should be able to jump start the next phase of fundraising.

Do These Things before Start Business

Firstly, congrats on choosing to get required in the energizing universe of business! Beginning another business with no experience is not something to fear, on the grounds that the achievement of business people comes from how experienced they are as well as from the way that startup proprietors are typically roused, energized, and persevering! For whatever length of time that you have a drive to succeed and you will invest the energy and exertion, the way that you won’t not have related knowledge will doubtlessly not be an issue! Here are a few tips with regards to beginning your business:

# Do your research.

Probably the most important thing you need to do before starting your own business is to do your research. Make sure you know that there is a market for your product/service, that there will be demand for it once it’s launched. You need to keep in mind what the market conditions might be at the moment and whether this is the right time to enter the market. Know your competition! Are you about to enter a monopoly, oligopoly, or a perfect competition market? What are your competitors’ strengths and weaknesses? In fact, what are your product/service’s strengths and weaknesses? Is there a Unique Selling Point of your business idea? All these questions require extensive marketing research in order to make sure you have an idea that could turn out to be profitable.

# Don’t forget the legalities.

This part of starting your own business is just as important as any other! From employment contracts for your staff to terms and conditions for your website, it is essential that you follow the law when setting up everything because you don’t want your energy and resources to get diverted later on. Here at Linkilaw, we understand that it might be difficult, expensive, and time-consuming for startup entrepreneurs to hire legal help or to try to get ahold of all the relevant documentation themselves. That is why we have a Free Legal Health check which we can conduct with you on the phone/online and then point you into the right direction for everything you will need in terms of legalities.

# Pick the right location.

“On one hand, national policies on entrepreneurship and current economic tidings of some countries can be extremely friendly and encouraging towards business owners. On the other hand, the legislation and regulatory procedures of some other countries can grind your company to a halt in no time.” Check out this article for some great ideas on startup locations.

# Prepare a kick-ass business plan.

“A business plan is an essential ingredient of any successful business. Essentially, it’s like a blueprint of your future business, what it will look like and what it will entail. Many businesses don’t have a business plan at all, and this is a fundamental flaw you must avoid. In fact, a business plan should be considered as an absolute necessity for business success.” Read why the backbone of a successful business is a well-written business plan here.

# Hire the right people.

Okay, so you have a great idea that you’ve researched and you’ve concluded that is potentially very in-demand and profitable, and you’ve got a great location and a solid business plan. But what are all these things good for if you don’t have a team of people ready to work hard and spend their energy on converting your idea into reality? It is especially essential for startups to hire the right staff that fits their company values and is ready to get onboard for the adventure!