I was listening to a podcast by Gary Vaynerchuk this morning as he was giving a keynote speech and he mentioned the term “fake math” to define a concept related to marketing and advertising but it stuck me as being completely appropriate for entrepreneurs and business owners. #fakemath tends to be a real problem for businesses that generate less than $25,000,000 in gross revenue. What I mean by #fakemath is the difference between what a business expects to make or achieve and what they are actually making and achieving. Continue reading “Don’t be fooled by #fakemath”→
There are times when a decision or an idea seems to be right. Technically right that is. As life goes on and the decision or idea plays out you can be caught off guard when the results are not what you expected because there were some practical problems that you didn’t consider. Continue reading “Technically right but practically wrong”→
Funny how life works out sometimes. With no expectation at all I ended up having two meetings today: one with a consultant working for a company that is walking on the edge of a cliff and a second meeting with two friends that have recently decided to get into the subprime lending business. One meeting was full of worst case scenarios while the other was full of optimism and huge aspirations. The funny part is that while I enjoyed both meetings immensely I really enjoyed talking with the consultant about the business that is about to go over a cliff. Strange? Continue reading “One business goes over a cliff just as another one starts”→
This week Dylan shares three personal reflections of lessons learned this past week relating to sales. If you are an entrepreneur or business owner you might be refreshed by these timeless lessons that are easy to forget.
“You’re hot one moment and cold the next”. These are words spoken by Leo who is a homeless man living in New York. Leo caught the media spotlight in 2013 when Patrick McConlogue offered him $100 to learn how to code. Leo took his skills and built a mobile app that generated him $15,000 in revenue – which is still sitting in a bank account while Leo continues to live on the streets (see video):
This week Dylan spends time revealing how he learned to let go of customers he never really had in the first place as well as the personal lesson of realizing there are many different paths that a business can take to get to its goal. Dylan shares a conversation he had with someone who was recently fired and is considering starting a business.
This week listen to Dylan talk about the concept of how entrepreneurs who try to do 10 things at 10% never get 100% results. Focus is the key and Dylan recommends using one key question every day to direct your efforts as an entrepreneur or business owner.
What if your business never existed – would anyone care? What if you never took that idea you had and pursued it relentlessly to form a business that is now delivering value to the market? In listening to the first ever TWIST episode I was reminded that execution is arguably the only thing that matters if you are trying to start a new business or grow your existing business. As an entrepreneur or business owner if you are having trouble executing then it’s probably fair to say that you are either having trouble with your finances, managing your time or maybe both. Need some motivation to get focused again? Read on. Continue reading “Execution is everything and here’s proof”→
We all know that money doesn’t disappear it moves. Right now the price of oil is sinking which means that money is moving from one side of the market to the other. But what is the other side? If you follow the movement of money you will inevitably hit one spot along the way that cannot be missed – the consumer. With low energy prices consumers will have more disposable money to spend. This is a simplistic observation of a complicated shift in the market but does provide start-ups and growing businesses with something to talk about and respond to.
How is your business going to take advantage of consumers who have more cash?
Even a good business isn’t safe from competition or market forces – just ask GoPro. As an entrepreneur running a start-up or a business owner trying to grow a company you need to be prepared for what might be lurking in the economy or amongst those in your marketplace. In GoPro’s case they built a business around a great product and have experienced massive growth and market adoption – the goal of every business. Apple has filed a patent that might force some change at GoPro (read more here) similar to the type of change that is happening with businesses being impacted by the drop in oil prices. But there is a silver lining. Continue reading “What your business can learn from the GoPro stock price crash”→