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Focus is the Key to a Successful Startup
The definition of a startup means you have very few resources to employ and little time to get them to do something valuable. The clock is always ticking, and the money (if you even have any) is running out by the day. With so little to leverage, you need to make sure that the focus of your company's product offer is as razor sharp as possible. Don't be all you can be. Be as little as you can be. Most startup companies fail because they try to be too many things to too many people right from the onset. They think of every possible option they could load into their product offer. While this may give them the feeling of being one of the â??big boys,â?? the grim reality is they are not. In fact by trying to be too many things from the start, these companies often end up delivering no real value at all. Instead of trying to be all things to all people, try being one thing to all people. Think of PayPal, the highly successful startup that allowed users to e-mail money over the Internet to each other. PayPal could have chosen a million options for their offer. They could have become an on-line credit card company, an auction site, a loan provider and so on. But what made the company successful was their focus on only one offer â?" e-mailing money from one person to the other. PayPal did one simple thing so well that the industry giant eBay purchased them for $1.5 billion in 2002, even after eBay had already built the same service themselves. PayPal is a great example of a company keeping a sharp focus one doing on thing right even when so many great opportunities could have easily distracted them. Bite off less than you can chew Delivering your product to market is an amazing feat to begin with. Even still, a common problem among small companies is their inability to predict what it will take to actually support a product once it has gone to market. Itâ??s easy to conceive complex products with lots of features. But actually bringing that product to market and supporting its use with customers is a whole different story. Instead of trying to roll out everything and the kitchen sink in your approach to market, just roll out the sink. If you find that you can support your product just fine after itâ??s been successfully selling in the first year, then go ahead and add to it. Itâ??s a lot easier to add features along the way than it is to support features you donâ??t have the resources for to begin with. You have ten seconds to get it right Your customer has a life, even if you do not. They are being constantly bombarded with marketing messages from the latest movies releases to the newest type of shampoo. They donâ??t have the time or energy to stop their entire day to focus on just your product. So if you are lucky enough to have ten seconds of their attention, you had better make good use of it.The exercise of developing your value proposition in ten seconds is a great way to distill down your feature set to those items that will get peopleâ??s attention right away. If itâ??s not going to add value to the ten second pitch, itâ??s not critical to your productâ??s success. If you canâ??t get your customerâ??s attention with the one key benefit to your product, the rest of your features will never see the light of day to begin with. Stay on target gold leader Your product launch is just the beginning of keeping your focus. Once you have brought your product to market and enjoyed some early success, it may become even harder to stay focused. Now you have customers calling you and recommending (or demanding!) features to be added and services to be provided. All of these distractions make it even harder to keep you and your team focused on a single goal. Fortunately the process of keeping your resources focused post-launch is entirely the same. You need to pick your battles and allocate your resources toward the few initiatives that will be best served to do the one thing right that is truly driving your company. Serving the needs and whims of every customer sounds great, but it can also be a terrible detour when trying to keep the forward progress of your company moving. If at any point during your journey youâ??re unsure whether or not youâ??re spending your time and resources effectively, just ask yourself one question, â??Is this driving the core benefit of our product?â??. If the answer is â??yesâ??, youâ??re headed in the right direction. Wil Schroter is a serial entrepreneur, author, and public speaker. His latest book â??Go Big or Go Homeâ?? will be available in 2005. Connect directly with Wil at wschroter@yahoo.com
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Business:Entrepreneurialism Articles from EzineArticles.com
03/01/2021 08:59 AM
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The Downfall of the Stubborn Entrepreneur
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Why You Aren't Getting More Clients and Leads (and it's not for a lack of trying). And it could be because It's Not About HOW; It's About WHAT.
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02/08/2021 08:44 AM
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Why You Should Write an eBook
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Using an eBook to market your business is an excellent idea. It can be a great calling card for your business with proof of your expertise.
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01/29/2021 01:19 PM
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Tales From the Online Marketing Crypt 10 - Playing the Dangerous Comparison Game on Social Media
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Before you start comparing your business to someone else's, realize you do not know the whole story. You do not know the trials and tribulations they've gone through, you don't know anything they are choosing not to disclose on social media.
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01/27/2021 10:54 AM
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How to Create a Buzz About Your Business
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If you want to create buzz about your business, using social media is a great way to do it. Try these different ways and see what reactions you get. Keep doing new things as often as you can to keep the buzz going.
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01/08/2021 11:42 AM
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How No More Military PT Tests Are Hurting My Business
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When I left the military I packed on 15 pounds pretty fast. My recent trip to the doctor's for the first time outside of the military was highlighted with the lovely comment from the doc, "You know, technically you're obese."
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01/06/2021 10:18 AM
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\"Learn How to Promote Digital Products and Earn Your First $10,000 Online."
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You're invited to attend... Complete Access to TWO Separate Training Tracks: ClickBank Product Publishing & ClickBank Affiliate Mastery
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12/23/2020 03:07 PM
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The Power of the Hand Written Thank You Note
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Why should you send a Thank You Note. What should you say. State a Call to Action closing sentence.
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12/22/2020 10:08 AM
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The Key to Continual Growth and Expansion
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Growing and expanding requires self-awareness of what you are doing and what you're not doing to move forward. If you're succeeding, keep on doing what you're doing. If you're behind, it's okay; you just need to adjust.
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12/21/2020 12:15 PM
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Winning the War Over Loans and Debts As an Entrepreneur
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Among the things that can make or mar a business is taking loans. People take loans to meet up with their expectations. However, it takes a wiser entrepreneur to decipher when to or when not to take a loan. Loans can do wonderful things for you when properly managed. It can help solve urgent problems, cater for substantial expenses and grow businesses. Though loans can work perfectly for those who have steady income, yet it has the propensity of entangling those who struggle to earn a living. It is very important for every entrepreneur to note that a mismanaged loan is hell.
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11/16/2020 09:05 AM
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How Can You Make Your Online Business More Successful?
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Many entrepreneurs have gone before you and figured out how things work, so that you don't have to reinvent the wheel. You can follow what other successful online entrepreneurs have done and become successful doing it.
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11/02/2020 10:01 AM
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How To Develop The Mindset Of An Entrepreneur And Become Successful
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Mindset Is Everything-You won't be awesome at being an entrepreneur unless and till you condition your brain for getting into business and then making the most of it.Any trade can be really tough to comprehend. However, if that is something somebody wishes to do, then how do you do that effectively? Here are a few great tips that I have come up with on how you are able to become that awesome entrepreneur as well.
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11/02/2020 09:20 AM
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Winning at the Proposal Game
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Submitting bids and tenders is a great way to grow and expand your business and is a great way for a small company to become a much larger company. It can be frustrating and costly to bid, this work taking you away from other business activities. However, winning a bid gives you access to a new customer and other project opportunities. You also have to consider as to whether you have the financial standing and moral fortitude to undertake large projects so choose your opportunities with great care. Smaller projects can help your company grow efficiently and profitably with less drama and anguish. Here are a few pointers to remember when producing tenders.
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11/02/2020 09:15 AM
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There Is Such a Thing As Too Much Free Content
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When you fundamentally reexamine your marketing strategy, it's very freeing. You can focus on what's most important.
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10/22/2020 11:34 AM
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The Pros and Cons of Working for Yourself
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Working from home offers many benefits and even a few drawbacks. It's up to you to determine if you have the personality for it. You'll need to rein in family and friends who want to take advantage of you, as well as yourself, to stay on track for creating a healthy and profitable home business.
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10/12/2020 09:53 AM
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The Impact Trifecta: Make the Most of Your Impact Efforts
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Impact can feel oddly unsatisfying. If you're feeling that your impact isn't fulfilling you, that's a clue. Maybe you're not having all the impact you want to have.
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10/02/2020 10:22 AM
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How To Show Your Expertise When You're Starting Out
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To show your expertise when first starting out doesn't require you to have a huge client roster, or even a following yet. Use these tips to help you gain a following, improve search engine optimization (SEO) and build your business.
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09/29/2020 09:03 AM
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5 Things to Think About Before You Start a Business
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Before you start a business and kick off your entrepreneur journey, you need to understand a number of things. Here are five to think about before you invest your money.
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09/29/2020 09:01 AM
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How Do You Create Multiple Streams of Income?
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Here are just a few of the ways you can create multiple streams of income online. There are also ways you can do it offline such as savings, investing, rental income, and more.
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09/28/2020 09:45 AM
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Does Money Make You Successful?
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When people want to become entrepreneurs they don't actually think about the work. They think about the freedom.
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09/28/2020 09:43 AM
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Your Fear Is a Valuable Messenger
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I know you care about impact. Fear will keep you from it, if not by shutting you down, then by distractions. We all feel fear, so what can you do?
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09/02/2020 01:33 PM
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Discovering Lucrative Business Opportunities
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There are several ways to be successful today but the most popular one is almost always acknowledged as venturing into a world of capitalizing on online business opportunities. People who are able to do this easily usually reap in the positive benefits many folds.
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09/02/2020 01:27 PM
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Ready To Position Yourself As an Expert?
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Becoming an expert is a process. At first you will feel as if you'll never make it, but everything you do builds on the next thing and eventually it will snowball to true success.
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09/02/2020 01:25 PM
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It Will Take More Than Motivation To Make A Business Succeed
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Many people naturally have the leadership abilities that are necessary to operate a successful business based on their family environment while they were growing up. Their basic character traits are often nurtured and manifested during these stages.
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08/31/2020 09:26 AM
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Are You Enough?
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What would it mean if YOU were enough? All the things you need to have a successful business.
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08/17/2020 12:59 PM
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Postpone Your Impact, and It May Never Happen
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When you postpone your impact, it may never happen. Life will always get in the way, if you allow it.
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08/11/2020 11:45 AM
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Do You Have What It Takes To Become An Succesful Entrepreneur?
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Deciding to become an entrepreneur is just the beginning. You know you want to own your own business and control your fate, but you're not yet sure exactly what it is that you should do.
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08/03/2020 02:42 PM
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Do Your Prospects and Clients Really Know You?
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People buy from those they know, like, and trust. How can you help them get to know your business? How can you build their trust?
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07/24/2020 10:25 AM
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Be Willing to Fall Flat on Your Face
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Being the leader you want to be, to have the impact you want to have, will not always be well received. You might take that as a failure. But is it?
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07/08/2020 09:48 AM
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The Secret Shame Of Having A Full Time Job
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According to experts, More than 47% of Americans today cannot pay $400 for an emergency without having to borrow that money. The secret shame is that most of that 47% had full time jobs when answering this question. That number is even worse today as millions have lost their jobs.
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07/08/2020 09:48 AM
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How Becoming An Author Builds Expertise
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If you want a fast way to become an insider within your niche, push yourself to new heights, and become the expert you know you are, becoming an author will do that for you. But, you must get started and learn all you can about marketing once the book is finished.
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07/03/2020 11:30 AM
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How To End A Business Relationship Amicably
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Ending a business relationship is never easy, but once you do let go of clients who aren't ideal, you're going to free up space to attract your ideal clients. Plus, once it's over you're going to feel so much better about your business and yourself.
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07/02/2020 11:37 AM
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Are You Honoring Your Values?
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So much is going on in the world right now, that it can be difficult to focus on your business' values. You may be going through some financial challenges due to the pandemic, and even if that's not the case, it can feel hard to consider one more thing as you pivot and adjust. I have had to make conscious and sometimes difficult choices in my own adjustments to stay aligned with my values and those of my business.
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06/30/2020 06:30 AM
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You Are Made For These Times
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Ever feel like you want to just leave everything behind and go elsewhere? I sure do. But we're here. How do we rise to these times?
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06/22/2020 08:50 AM
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5 Tips to Make Big in Business From the Expert Business Coach
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Get tips to make big in business from the expert business coach Thamizharasu Gopalsamy. One can learn business basics with this pen work.
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06/19/2020 04:19 PM
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Honest Grant Cardone Marketing Mentoring Program Review
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Do you know Grant Cardone? Do you strive for success? Are you passionate? If you want to learn from the best Grant Cardone is your guy. You are about to take a "DEEP DIVE" and become submersed into his Marketing Mentoring Program. We will take a look and I will help educate you on what I have learned, and where you will benefit by joining him on his mission to create success, and help you do the same.
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06/15/2020 02:39 PM
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When Celebrating Your Big Accomplishments Is Hard
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Celebrating your significant accomplishments can stir up feelings and resistance. Here's how to deal with that.
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06/15/2020 02:32 PM
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What Exactly Is Passive Income?
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Any income where the individual does not have to physically earn is called passive income. This of course is a very attractive way of earning an income and indeed those who are lucky enough to make a decent living this way are quite happy. Ways To Generate Loads Of Passive Income- There are currently some very popular and common ways to earn a passive income.
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06/08/2020 09:13 AM
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Find Your Fierce
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You want to have impact with your business. You'll have a lot more impact if you get in touch with your fierce.
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06/01/2020 08:48 AM
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Are You Becoming the One?
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Impact calls you on a deeper level. If impact were just about taking action, you would have had that impact already.
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06/01/2020 08:43 AM
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Respect Payroll
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Entrepreneurs at times have such passion for their product that they overlook payroll. This article describes some common startup payroll problems, and their solution.
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05/25/2020 01:14 PM
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Your Relationship With Desire Shapes Your Impact
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Your impact is a deep, unique expression of who you are. Diminishing your desire for impact rains on the parade of who you are and what you contribute.
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05/18/2020 10:35 AM
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Rethinking Your Business Plan? Be Sure to Include This
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We're in the midst of a significant disruption of business. Creating a new plan focused on this one thing keeps you on track.
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05/14/2020 09:50 AM
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How To Handle Criticism In Business
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There are essentially three types of critics. Each has a different agenda and all but one has something good to offer. It's important to understand and differentiate between these three types of critics so that not only can you quickly identify those whom you should listen to and those who you should ignore, but also so that you can learn to provide criticism yourself in a constructive and useful way.
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05/11/2020 07:49 AM
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Are You Afraid of Your Own Impact?
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It's worth it to start to explore what's holding you back from the compelling, exquisite impact that you could have. Your impact matters.
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05/05/2020 07:55 AM
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Why Is It Easy to Fail at Your Pitch
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The aim is to secure investors, and to achieve that, the pitch deck presented needs to make them sit up and pay attention. Do not become just another pitch they hear and promptly forget. Failure is not an option, and these are the common blunders that scream, "Fail":
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04/07/2020 08:35 AM
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Having Impact During a Pandemic
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The Chinese proverb, "May you live in interesting times," was never more poignant than it is right now. Every single one of us is undergoing significant change, whether we want to or not. The coronavirus/COVID-19/SARS-CoV-2 pandemic (even the name keeps changing) is making sure of that.
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03/28/2020 07:39 PM
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To Survive, You Need to Follow the Bubbles
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Whether you are an entrepreneur or small business enterprise, one thing is for certain, we are all experiencing some form of disruption in our business as a result of Covid-19. For a very small handful of businesses, this unprecedented change is a positive one for their business, while a significantly greater number have not been so fortunate.
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03/28/2020 07:34 PM
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Here's the Secret to Double Your Productivity
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Productivity only matters in the context of what you ultimately want to accomplish. Being productive in service to your bigger goals and your impact matters.
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03/19/2020 09:11 AM
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Are You Prepared? Hint: If You Are, You'll Have More Impact
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Preparation can be the bridge that brings you into greater emotional connection with your audience. With connection, you build impact.
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03/02/2020 08:23 AM
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Are We All Creative Or Is That Just A Myth?
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Everyone is creative. But everyone is not created the same. There are many types of creativity.
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