Why Entrepreneurs Need Adversity

Facing AdversityAs entrepreneurs, we wake up every day and face the challenge of growing our company and driving forward.  As we do this, unexpected issues arise and road blocks present themselves in front of us. As much as we do not like them, these roadblocks, which I call adversity, are necessary for entrepreneurs and for anyone looking to drive forward and grow in life, business and leadership.

Right on the other side of adversity is where we see what we are made of as entrepreneurs.  Right on the other side of adversity is where the magic happens.  As humans, we tend to live within the boundaries of our comfort zone.  Inside this comfort zone, we know what to expect, how things generally happen, and we feel good and comfortable in our abilities to produce a desired outcome.

The other side of this comfort zone is scary, outcomes are unknown and fear exists.  Many people will never step to this side to experience, manage and conquer this fear.  Adversity presents itself in our lives so we can be placed in an areas where we must be resourceful, creative and fight and face fear head on.

When we conquer that fear, our comfort zone is now expanded.  We now know that we have managed and produced an outcome while working in that newly lived in area of our lives. Adversity is a must, it is a necessary experience.  It never happens when we plan.

During my journey, I have learned the most about myself from experiencing massive adversity.  I encourage you to lean into it, appreciate it, and learn from it.

Matt Shoup Café con LecheTo continue to get caffeinated with me on a weekly basis, click the coffee cup to the left.  When you  do, I will send you a free business building tool kit packed full of resources to grow and run your company with excellence.

 

Sales Lessons From My 5 Year Old

donutsChildren teach us a lot.  They have a different and unique view of the world where they know and believe they can have anything they want.  This view teaches entrepreneurs a lot about sales and life in general.

Entrepreneurs who learn how to close business, and teach others to do the same, will consistently grow their business.  Sales is an art, and perfecting this art is a must.  As a business grows and scales, entrepreneurs must pass this art across the culture of their company and inspire it in their team. My five-year-old daughter recently reminded me of a few important lessons about sales.

Two years ago, my daughter, Hailey, was involved in a photoshoot to help M & E Painting with a marketing and PR campaign we launched in Northern Colorado. A few weeks ago, I was driving to Dunkin Donuts with her for our Friday morning date.  As we were driving, I asked her if I could use one of the photos from that shoot for my new book coming out in December. She immediately asked me, “How much are you going to pay me?”

This was no surprise to me, she is my daughter and we have imparted the value of hard work and entrepreneurship into both of our children.  I responded by asking, “What do you want?”

“$100,000!”, she replied.

We continued to discuss what would be involved with making that kind of money, and I asked her how we can make that happen.  Over donuts, we discussed up front payment vs. royalty, profit sharing and driving sales of the book. At the end of our date, we struck a deal.

Here are a few lessons she reminded me of that day about sales:

  • You will close nothing if you never ask, so ask, always ask.  Do you always ask?
  • Asking for a donut is no different than asking for $100,000 or $1,000,000 and Hailey saw no difference between the two. She has not constricted her dream due to measuring the outcome. Do you?
  • Never stop after the first try, the second try, the tenth try, keep asking, be persistent.  Are you?
  • When everyone wins and receives value, selling is not needed, business just happens.  Are you creating winning scenarios for all sides?
  • Everything can be negotiated to create a win-win for all.  Are you doing this?

After donuts, I drove Hailey to school and was inspired and ignited to go out and build my company even more.

Cafe con LecheTo get caffeinated with me on a weekly basis, click the coffee cup to the right.  When you do, I will send you a free business building tool kit packed with resources to help you grow your business with excellence.  I will also keep in touch with you weekly with drips and drops of inspiration, ignition and practical wisdom for your life and business.

Social Media and Facebook Etiquette

sf_socialintroBusiness follows where the eyes and attention go. In 2016, it is clear that people’s eyes, attention and focus is facedown in their phone, tablet, and computer, cruising and browsing social media. As a business learns how to correctly capture people’s attention, receive permission to speak to, start a conversation with, and ultimately create a customer on and through social media, understanding proper social media etiquette must happen.

You and your company never want to be “that guy”, “that gal” or “that company” making a wrong move on social media for billions of eyes to see.

As I share an analogy and a couple of suggestions, I find that I myself have been guilty of being “that guy.”

Let’s use the example of Facebook.

You walk into a bar filled with your “friends”. Some you know very well and have deep relationships with, some are “acquaintances”. Some cannot enter the bar with you because you have “blocked” them and locked them out.

As you walk into the bar, you make a statement for all of your friends to see, starting a conversation. Facebook allows all of your friends to see this conversation and gives them the ability to share their thoughts, feelings, experiences, and opinions regarding your comment.

Facebook and social media have changed the way people have conversations. That being said, there are still a few points of communication etiquette one must follow. This etiquette applies in 2016 on Facebook, just as it did in 1900 when conversations were had face to face.

  • Are you relevant to speak into this person’s life or conversation?
  • Do you have permission to speak into this person’s life or conversation?
  • If you enter a conversation between two or three people, are you aware of the conversation that they have been having today, last week, or the degree of their relationship, as you get ready to make a “comment”?
  • Does your opinion really matter?
  • Does your opinion matter to the people you are sharing it with?
  • Are you making someone’s life better when you speak?

Social media is a powerful communication tool that can bring massive value to lives and help you build a massive company. This can only happen when used correctly.

Matt Shoup Café con LecheClick on the coffee cup to the right to get caffeinated with me on a weekly basis.  When you do I will send you a couple of business building tools to inspire and ignite you to grow your business with excellence. I will also drip and drop you weekly emails with high value practical wisdom for your business.

What Profit Really Means

profitOne of the characteristics of a successful entrepreneur is they consistently make profit.  Along with making a profit, they consistently keep and reinvest their profits to win financially.  Last week, I wrote about how to be more profitable as an entrepreneur and discussed three key things relating to being more profitable.

One thing I failed to cover was this; profit is not just about money.  Most entrepreneurs say and hear the world profit, and immediately think money.  Money in (sales and revenue) minus money out (costs and expenses), equals your profit.  This is typically measured in currency.

Profit is so much more than just currency.  In life, leadership, business, and humans working together under a common goal and vision, things are exchanged all the time.  Money is one, so are emotions, action, and energy. In any exchange, a tank, bucket, account, or domain of life is filled (sales and revenue) and is also expended (costs and expenses).  What is left is the profit.

How profitable are you?  How much is left? How much is left financially? How much is left emotionally? How much is left spiritually? How much is left of your accounts, buckets and domains of life?

How much are you holding onto, reinvesting and growing in these domains to consistently win in life and business?

My good friend Mike Michalowicz would smack me around for asking why your profit and our profit is a leftover.  Click here to watch him on the Ted stage sharing why your profit formula is broken and how to fix it.

7293412522_d279a58710_b

To get caffeinated with me on a weekly basis, click the coffee cup to the right.  When you do so, I will send you some free business building tools to inspire and ignite you to own and run your organization with excellence.

TOP