As a startup one of your most important assets is your brand and that brand is usually embodied in your company name and logo. The valuable time that you invested in coming up with just the right creative name and developing the branding and marketing around that company name is impossible to measure. After creating signage, letterhead, and advertising materials the last thing that you want to learn is that another company has sent you a cease and desist letter to stop using your company name.

This costly mistake can be avoided by taking proactive steps on the front end to ensure that you have all the rights to use the name you choose through trademark searches and registration.

With this in mind we offer the following guidelines for trademark protection for your startup. This is a brief but critical overview of what trademark rights startups should protect and, most importantly, how.

What Should You Trademark?

Often startups have no idea what should be protected by trademark registration, since it extends far beyond just your company name. Here are a few of the items that you should consider seeking trademark protection for your startup.

Company Name

First, a small business should always protect its company name. Your company’s name is how consumers, your customers, find you and your goods or services (e.g., Nike, Amazon, Apple, McDonald’s, etc.). Without protection a competitor can open shop under a highly similar corporate name and siphon away business from you by confusing your customers as to the business they are patronizing.

Product Names

Like your company name, consumers also locate your goods and services through your product names. As such, if you provide a product or a service under a particular name you must also protect the same to avoid competitors from using like names on their goods and services (e.g., iPhone, Wii, Explorer).

Logos

In addition, it is not only the names of products that should be protected but logos as well. The Nike Swoosh, the Adidas three stripes, and, of course, Apple’s now iconic apple with a bite are all examples of logos that serve as trademarks.

Advertising & Marketing Slogans

If you use a particular advertising slogan in connection with the promotion of your goods and services these should also be protected as a trademark. Think of

• McDonalds – “I’m Lovin’ It”
• KFC – “Finger Lickin’ Good”
• Nike – “Just Do It”
• Kit Kat – “Have a Break, Have a Kit Kat”
• Heinz – “Beanz Meanz Heinz”
• Skittles – “Taste the Rainbow”
• Rice Krispies – “Snap! Crackle! Pop!”

Benefits of Trademark Registration

Often startups wonder if trademarking is worth the cost and efforts at the early stages. In addition to the potential savings of avoiding a costly rebranding after learning that the name you have been using is trademarked by another company that has sent you a cease and desist letter, here are a few of the benefits of having a trademark registration for your startup.

Deterrence

Having your trademark registered with the U.S. Patent and Trademark Office makes them easier to uncover by those doing trademark searches to see if their own trademark is available to be registered. This, in turn, helps to prevent the adoption of confusingly similar marks by third parties who may not choose a specific trademark similar to yours if they see your trademark is already registered with the U.S. Patent and Trademark Office.

Registration Symbol ®

Only trademarks that have been registered with the U.S. Patent and Trademark Office have the authorization to use the® symbol in their advertising and marketing. The right to use the ® symbol in connection with your trademark which, in turn, also deters potential infringers from adopting or using a similar trademark to yours. It is also a great way to communicate that your brand is legitimate and valuable in a crowded field of imposters and cheap knock off brands.

Damages

Unfortunately it is a reality that we often have to resort to filing lawsuits to enforce trademarks against infringers that don’t respond to cease and desist letters. When your trademark is registered it increases the type of monetary damages you can demand in a lawsuit if it is later infringed upon such as the ability to recover lost profits associated with the infringement including the possibility of receiving treble damages in certain circumstances as well as recovering attorneys fees. Essentially, having a trademark registration really pays for itself multiple times over.

Block Importation of Infringing Goods

If your trademark is used in connection with goods this is a key factor. Once registered your trademark registration can be provided to the U.S. Customs and Border Protection that will block the importation of any goods into the United States bearing a trademark that infringes upon yours.

Takedown Notices

In this digital commerce age where many brands are distributed in online marketplaces like Amazon and eBay, one of the most powerful weapons that you have against counter-fitters and unauthorized distributors is their infringing use of your registered trademarks. With a trademark registration, it is relatively straightforward to provide notice to these online marketplaces to remove the infringing listings in the quickest fashion possible.

How to Protect Your Trademark 1. Check if Your Name is Available.

If you have yet to begin use of your product or service name it is imperative that you research to see if it is available. A properly conducted research report will let you know if the name you seek is available to be registered before you incur the expense of the non-refundable government filing fees required for registration. Also, a research report will ensure you are not adopting and using a name that is infringing upon another’s trademark. If this occurs, you could be forced to give up use of your name and even pay damages to the entity you have infringed upon, even if done innocently. A research report will avoid these issues and make sure your name is available to use with minimal risk.

You should be leery of  any “free” trademark searches. Recall the old adage that you always get what you pay for. The “free” trademark searches are largely marketing ploys that do not provide the quality of search a trademark holder needs to determine whether their trademark is available for registration. As such, they may inform you your name is available to get you to use their trademark registration services when, in fact, their search algorithms fail to discover and advise you of actual trademarks you will be infringing upon if you begin use of your trademark. If this happens, your “free” trademark searches can be very expensive in the long run.

2. Register Your Trademark.

Once you have determined your desired name is available to trademark you should immediately apply to register it with the U.S. Patent and Trademark Office. Since trademark rights can be acquired either when you first use your trademark or first to file for an intent to use the same, it is imperative you get a trademark application on file with the USPTO as soon as possible to secure your rights in the trademark before someone else does.

3. Monitor For Infringement.

Now that you have a trademark you need to make sure that no one else adopts and begins use of a confusingly similar trademark. Trademark infringement costs businesses hundreds of millions of dollars each year in lost revenue. Even if a competitor begins use of a similar, albeit not identical, trademark to yours it can still funnel customers away from your business. In essence, competitors create confusion between your and their goods and services by adopting a similar trademark to yours. They then use the good will you have created in your trademark through your marketing and otherwise to steal your customers through use of their infringing trademark.

To stop this before you notice a decline in business regularly monitor your trademark and others’ use of similar trademarks by watching trademark filings before the U.S. Patent and Trademark Office as well as online and through other traditional means.

There are a number of solutions for monitoring online use of your trademark. Seek the advice of a trademark attorney on options available to automate this monitoring process.

4. Police Your Trademark.

Once infringement of your trademark is discovered you must act quickly to stop the same. There are numerous ways to enforce your trademark depending upon how it is being infringed upon. For instance, if a competitor has registered and is using a domain name that is similar to your trademark, a domain name dispute may be the right avenue for you. If a competitor is simply using a similar trademark on their web site to yours than sending them a cease and desist letter or possibly suing them in court may be the best option. Or if they have applied to register a confusingly similar trademark with the U.S. Patent and Trademark Office you can oppose the registration of the trademark through several different means.

Of note, enforcement can be tricky as there are many pitfalls associated with determining first use of a trademark to ensure you are not enforcing against someone who may actually have acquired rights in their trademark before you. As such, seeking the advice of trademark counsel specializing in enforcement is always advised.

Final Thoughts

For many businesses, their brand is their most valuable asset. Through a few judicious steps in seeking trademark protection, monitoring use by others, and policing infringement, you can ensure that your company brand is secured and flourishes with the growth of your business. You can learn more about trademarks and intellectual property protection by visiting this Intellectual Property Introduction.

 

Feel free to contact Feras Mousilli at Lloyd Mousilli, LLC if you would like to discuss your trademark strategy.

https://samplecic.ch/trademark-protection-for-startups-2.html

Freelancing has been dubbed the on-demand economy, where businesses hire independent contractors to perform tasks for the company instead of regular employees. Contractors are generally less expensive to hire because you only pay for what you need. This can make them more appealing for smaller or shorter term projects, but some Silicon Valley startups are moving away from hiring freelancers. If this shift becomes a growing trend, surviving in the freelance Internet-of-Things (or “IoT” for short) world will become even more competitive.

Regardless of competition, there will always be businesses that want to hire freelancers. The problem is, if fewer businesses are hiring freelancers, then freelancers have to compete harder for the limited opportunities that exist. That means if you are a freelancer in the tech world, it is time to step up your game.

It is not easy to survive in the freelance world to begin with. This guide is designed to help you survive and thrive in a gig-based economy no matter how competitive it gets.

Learn, practice, and perfect high-level communication skills

Communication is not just an exchange of words and ideas. Communication requires taking responsibility for how your words and ideas are interpreted and understood. That does not mean you are responsible for what other people hear. Of course not. You cannot control what others hear through their listening filters. You are responsible for refining your communication until your idea is understood by the other person. For instance, when someone does not understand what you have said, be willing to ask questions to find out where they got lost, rather than repeating yourself in frustration.

Clients that are not tech savvy will not understand technical jargon, and you may not be aware when you use it. You need to know how to communicate with the intention of helping your clients understand.

Although difficult to master, high-level communication skills should be applied to online communications, too. In today’s IoT-centric world, kids use their devices to communicate with their peers and even their parents more than they are using verbal language. Even adults use text messaging, email, and social media messengers to talk to each other, sometimes for hours, rather than making a phone call.

An important communication skill to have is refraining from sending an immediate response to an electronic communication. Electronic communications should be precise, since you do not have the ability to address misunderstandings and refine your message in a back-and-forth conversation.

When dealing with clients, communication skills are gold. Clients are notorious for having unrealistic expectations and making difficult or impossible requests from techies. If you want to survive as a freelancer, you will need to communicate with those types of clients in a non-threatening way. You need to be able to talk them out of their bad ideas without making them mad.

Limit your social media sharing

Technology comes with an unfortunate side effect: your clients are going to Google you and find you on Facebook. Think twice before sharing anything on social media that can be taken out of context or intentionally twisted. Over-sharing on social media has become the norm.

Your friends might appreciate your sarcasm regarding sensitive topics such as religion and politics, but potential clients may not. Even sharing videos from politically incorrect comedians can turn a client off.

If you want to survive as a freelancer, you need to be your client’s top choice. You cannot give them any reason to doubt their relationship with you. If you are posting photos of yourself drinking beer from a keg on Facebook and making sarcastic jokes that could be offensive, be prepared to lose some projects.

Use data security best practices even when your clients do not require it

Even when left unspoken, clients naturally expect you to keep their sensitive data private. They do not always know the proper protocols for data security, so you may not be given specific instructions for how they want you to protect their data. It is still your responsibility, and clients will drop you as a freelancer if you do not.

You are legally responsible for protecting your client’s data. For instance, if you send unencrypted emails to a sub-contractor containing sensitive client data, you can be held responsible for damages if that transmission is intercepted. You could also be held responsible if your sub-contractor fails to protect the data once they receive it, and a hacker gets ahold of it.

To keep client data safe, never outsource tasks you have agreed to perform without explicit permission from the client. Always notify the client when you need to transmit their sensitive data over the internet to a third-party. If they want you to transmit data in an unsecure way because you cannot transmit it securely, make sure they understand the consequences and get it in writing to cover yourself later on. Avoid entering client passwords on public Wi-Fi networks unless you can encrypt your connection using a Virtual Private Network (VPN).

Be picky about public workspaces

If you need to work from public coffee shops and restaurants, be picky about where you work. Forcing yourself to work inside a noisy Starbucks simply because you want a Frappuccino or do not have a workspace is not a smart choice. Ideally, you want to find the sweet spot, where the location you work from has something you like on the menu, and you can be relatively undisturbed.

• Prioritize locations with secure Wi-Fi. Unless you live in a small town, you probably do not need to ask for a code to access public Wi-Fi. Open Wi-Fi networks are convenient but less secure. If possible, prioritize working from a location that offers secure Wi-Fi. Your clients’ data is at risk anytime you log into their accounts or communicate with them through email.

  If you cannot find secure public Wi-Fi, install a Virtual Private Network (VPN), a firewall, and other security software on your computer. A VPN encrypts your internet communications so even if a hacker steals your data, they cannot read it. A VPN can also hide your true location and make it look like you’re browsing the internet from somewhere else.

  Be aware that a VPN is not a guaranteed solution to all security problems. The recent Heartbleed bug makes it possible for hackers to decrypt your communications over a VPN, including passwords. Not all hackers can exploit your VPN, so even though a VPN is vulnerable, they still work to keep the majority of cyber criminals from accessing your data. For example, anyone can download free software from the internet and monitor public Wi-Fi traffic, stealing passwords and sensitive data. A VPN will protect you from most of those people because the majority are not real hackers.

• Avoid locations that require a purchase every hour. Businesses rely on customer purchases to make money, but when you are an entrepreneur on a budget it is in your best interest to avoid making multiple, unnecessary purchases.

  If you cannot avoid working somewhere that requires a regular purchase, buy a drink that offers refills at a lower price, like drip coffee or iced tea. You will be able to revisit the counter every hour or so and ask for a refill to fulfill your obligation to make a purchase.

• Avoid working in locations where people know you. This one is tough. If you live in a small town, you may only have one or two options, and you are going to run into people you know. If you live in a big city, you have a better chance at blending in undetected.

  When you cannot avoid working in public spaces where people know you, you have several options: place a “Do Not Disturb” sign on the side of your table and point to it when people approach you; place a similar sign facing people from your back so people entering the space know not to disturb you; or, you can be straight with people and let them know if they see you buried in your laptop, it is not a good time to talk. Or maybe it is time to stop working in cafes altogether.

• Find a designated coworking space. Although hosted in public spaces, a coworking space is different. Instead of going to a random restaurant and letting the waitstaff move you around when they need their tables, a coworking environment is a structured system. The restaurant designates an area as a workspace between certain hours.

  The fee for participating in a coworking space is easy to budget since it is a predictable expense, unlike hourly refills and purchases. Most spaces like the ones from Kettlespace, are organized during an establishment’s downtime so you will not get shuffled around. Like a regular office, most coworking spaces come with unlimited coffee, tea, and snacks. You will not feel guilty for hiding in the corner to avoid drowning yourself in refills you do not want.

  Coworking has been around for a while, and when orchestrated well, becomes an ecosystem for creativity and productivity. You do not need to sacrifice your health by pumping yourself full of caffeine and consuming specialty coffee drinks all day long.

  You might pay more for a coworking space than you would for a daily cup of coffee, but peace of mind (and unlimited snacks) are priceless. However, shop around to find the right coworking space – there are options for all budgets and needs.

Protect your time with fierce boundaries

Your time is more valuable than you think. Valuing your time is not merely about making sure you charge the right hourly rate, or ensuring you get paid for the time you spend with clients. Valuing your time means protecting it fiercely; making sure every minute you give to another person is worthwhile to you. That is not to say you need to be selfish with your time and not do anything unless it benefits you. It means being consciously aware of how you are choosing to spend your time and not giving it out absentmindedly. This requires careful thought prior to making a commitment.

For example, if you are someone that says “yes” to every request, you are probably wasting a good amount of time finding ways to get out of commitments you wish you never made. Or, those commitments are overloading you and stressing you out. Instead of saying “yes” in the moment, protect your time by telling people you need to think about it for a couple of days and you will get back with them. When you are high on inspiration, opportunities will sound more appealing than when you come down from that high.

You do not need to gnash your teeth to be fierce. Fiercely protecting your boundaries means saying no when you want to say no, and sticking to it. It means creating rules everyone must play by when interacting with you. It sounds robotic and sterile, but it is what all the top entrepreneurs have to do to maintain any kind of order in their lives. For example, successful entrepreneurs do not take unscheduled phone calls during business hours, even from friends and family. Unless they are lounging around and are not engaged in work.

Seeing the face of a loved one flash on your smartphone makes it hard to ignore the call even when you are busy. It is tempting to answer and quickly tell them you cannot talk and you will call them later, but there are two major problems with that.

If you answer the phone to say you cannot talk, you are creating the expectation that even when you are busy, you will still answer your phone. This gives others the impression that you are available 24/7, even when you are not. The one time you do not answer, the caller will get upset. You can tell them you were in a business meeting, but if you have always answered previously, they will wonder why you chose now to ignore their call. They will take it personally, create a story around why you did not answer their call, and you will have to deal with the drama.

You need to restrict access to your time. Set business hours (like Monday thru Friday, from 9:00 a.m. to 5:00 p.m.) and let people know during those hours you only accept scheduled calls, unless it is an emergency. This applies to friends and family as well as business associates. You will never get ahead in your business if you allow clients to have unrestricted access to you.

Be strategic when offering pro bono work

Freelancers do not make money unless they charge for their services. They also have frequent tech breakdowns that cost money to fix, so earning money is important.

If you are going to offer pro bono work, be strategic about it. Always ask for something in return. Clients who are not willing to reciprocate on even a basic level are going to take advantage of you.

Avoid pro bono work that is not reciprocated in some form, and do not discount your services to the level of a small donation. The client could interpret that to mean you are willing to work at a discount. They might pass another project your way, expecting the same deal. If you need the money, you will be tempted to take their new project. If you take their new project, you will continue to take low paying gigs and you will be exhausted and have nothing to show for it.

Instead of discounting your services, request something of equal value from the client in return. If they have products or services you would benefit from, come to an agreement for a fair trade. You could trade time for time, so for every ten hours you work, you receive ten hours of their services, excluding work that either of you need to outsource to a paid third party.

Regardless of your agreement, make sure to send all pro bono clients a professional invoice so they can see the monetary value of the services they have received. Adjust the wording on the invoice to reflect your agreement but treat the project as if they are a paying client. Surviving as a freelancer in a competitive market requires charging full-price for your services even when you are performing pro bono work. There is no such thing as a free lunch.

Stay up-to-date with the latest trends and technologies

The world of Internet-of-Things (or “IoT”) is constantly changing in big ways. For example, cloud-based software like Microsoft Office 365 and Photoshop are popular enough to be considered a trend. They are also useful and have a bright future. For instance, cloud-based software can be updated automatically on the server side, rather than forcing users to manually download and install each update. The applications installed on a user’s machine are lightweight, and the server does the majority of the work, which leaves the user with more of their local computer resources. Nearly everyone experiences an increase in speed when using cloud-based applications. Also, bugs can be fixed on the server-side, and users do not need to lift a finger or worry about endless software security patches.

Your clients need every option available to them, and their options are only as diverse as the software in your portfolio of knowledge. The more you stay up-to-date with the latest technology trends, the more knowledgeable you will be perceived to be by your clients. Clients like working with freelancers who provide them with options and do not try to convince them to use the only software they know.

Hire a tax professional to do your taxes each year

To stay afloat as a freelancer, you need to stay on top of your taxes to prevent getting behind. Each year, the tax rules change. The only people who stay on top of the multitude of changes are the tax professionals who need to know the tax code inside and out to do their job.

The home office deduction is the most common deduction for entrepreneurs, but the requirements are ever-changing. For example, for 2017, the home office deduction requirements changed yet again, requiring a work area to be an enclosed space with some kind of door. No longer is it acceptable to claim a home office deduction if your workspace is merely in a separate, designated area in your home such as the kitchen table.

By completing your own tax returns, you are risking making deductions you may not qualify for, even when you qualified the previous year. Tax professionals can spot inconsistencies immediately and prevent you from making innocent mistakes.

Create a productive home working environment

Forget about painting your walls the perfect shade of blue to evoke a sense of importance from your brain. Hold off on buying a bunch of ergonomic furniture, too. Workspace décor and furniture are important, but it is secondary to the layout of your furniture and the way you arrange your tech tools.

For example, before you fill your office with ergonomic furniture, determine where your desk will be located. You do not want the sun to come in through the window and shine in your face for half the day, but you do not want to be in a dark corner, either. Plan out where you are going to work first. Then you will know how much wall space you have for each item. You could have the most expensive, highest rated ergonomic setup one can purchase, and with the sun shining in your face, your productivity will be next to zero (but you might get a nice sun tan!)

Do not get too comfortable settling into your groove

Getting comfortable as a freelancer means you are not growing. Without the structure of a regular 9-5 job, you have to create your own growth opportunities. You have to create limits to push yourself through and do your own research to figure out what is next.

When the freelance world becomes competitive, you will be more likely to survive if you are willing to throw your hat over the fence and take on projects beyond your perceived abilities. If you do not get in over your head, you will never have a reason to research solutions to dig yourself out of a hole. What you learn by digging yourself out of a hole, you will take with you to your next project. The more you learn, the more valuable you become as a freelancer, and the more likely clients are to choose you in a competitive gig economy.

https://samplecic.ch/the-freelance-entrepreneurs-guide-to-surviving-in-the-world-of-iot-2.html

“Make a spinner and spin the wheel”.

– Seth Godin

That’s what influencers always mean, start what you like doing and stick to it. Don’t give up in the middle. However, you can only continue doing something when you start something in the first place.

Most of us today are tired of living a 9-to-5 job. They want to get out of the mundane routine. but there has to be an alternative to help you sustain, make your ends meet and give you decent bank savings – and that is not asking for too much.

The next alternative is to start something on your own. But there will be two roadblocks you will face instantly the moment you think of starting your own business.

• Business ideas
• Business capital

Your perfect business idea should have:

• Something that drives you ahead
• Something that you feel passionately about
• Something that is in demand
• Something your bank account can afford without accruing heavy loss

Once you are dead sure that you want to start something for yourself, you need to channelize your future ideas and start brainstorming on how to start a business with minimum capital. Imagine that proud moment when you finally start your full-time venture and let go of your mundane job. All this you can do by investing just 10k or even less.

Oh yes, you heard me right. You can get ideas to startup businesses under 10K. It is that easy today. Gone are the days of heavy investments and having a large capital. With only 10k or even less you can start your own business as per your choice.

So now you must be thinking where to start and what to start with. Don’t let that 10k burn in your bank account. Use it to start your dream startup. And trust me you are not doing a cheap deal here. As it is not. So stop beating yourself up on that and start planning.

Here are 20 exciting ideas for startup businesses under 10k:

Online freelancing

Online freelancing can include digital marketing, data entry, consultations and even regular content writing. You can take up projects, work on them and deliver them as per the set timelines. Once you start having a certain amount of clientele, you can outsource it or include more people in your team. Slowly grow your network.

Food business

The food business is highly profitable and comes with low investment. Therefore you can think of some genuine ideas such as:

• Front yard coffee shop
• Home-based catering or delivery
• Cake Baking
• Breakfast making
• Homemade pickles, spreads, and jams
• Homemade sweets and chocolates

Online learning or tutoring

You can start your own online teaching business. All you have to do is get an affordable tool that will host your entire online learning materials and then start selling. There are a number of companies who provide e-learning software platforms at extremely affordable rates. You can build your entire online training modules and give access to your students as per their requirements.

Outdoor activities organizer

This is a relatively new concept. If you have a passion for outdoor activities, why not use it for your business as well and make money. Outdoor activities such as hiking, trekking, camping, river rafting are all part of adventure sports that people love doing these days – irrespective of their age. You can become an organizer yourself where you bring in different groups and take them for trips and such activities. You can even tie up with other organizations that are into similar sports and work accordingly.  

YouTube Channel Partner

It’s extremely easy to create a channel on YouTube. You simply need to create an account. Once done you can start creating content and upload them at your convenience. Creative videos can help you earn good revenue. Post creative videos with original content and see how you create a good fan following.

Live streaming

Live streaming can become a huge task if you handle it yourself. The minute detailing can easily pull you down. However, if you get a readymade platform that has all the aspects of live streaming and helps you create a live streaming website in no time at all then you must never let go of this opportunity.

Real estate appraiser

This job today has a lot of potentials as the real estate is booming currently. You can become a real estate appraiser and earn good money. Licensed appraisers earn even more. Once your business is quite stable you can expand and get more revenue in.

Pet grooming

Pet owners’ worst nightmare is grooming their pets. And this is one of the most important aspects of owning pets. You can start a pet grooming business. You can learn up the skills and open a small unit from the convenience of your home. Chances are, you will end up having a flourishing business.

Become a blogger

If you are into writing, start a blog. It can be on anything – travel, food, finance – any topic or topics that you like. And then you can start earning money through different affiliation. Don’t forget to add push notification. That way you can keep your readers engaged. Integrate the push notification tools for web and mobile browsers at extremely affordable rates.

E-commerce portal

Start an e-commerce business and start selling products. You can contact sellers and ask them to sell through your portal.

Sell decorative knick-knacks and potteries, homemade paper bags or rug bags online

Bye bye plastic, paper bags will do your work. Plastic is a big environmental. Create your own set of paper bags and rug bags. Using old clothes you can recreate beautiful shopping bags that people would love to carry around. Add beads and bright colors and you can sell them online at nominal rates. People today go out of their ways to decorate their homes. What better way than to supply them with homemade decorative knick knacks and even pottery items. Put your creative skills to good use and come up with beautiful pottery items.

Stock and trading

This is not a new business idea but since the market is rising steadily, it can be the right time. If you have a sharp finance knowledge, know how the market works and have a clear idea of how to handle money matters, this is the ideal startup business for you.

Flipping Domain

Buying domains at a lower price and then selling them at a higher price is known as flipping domains. Web portal like Godaddy is a good marketplace for buying and selling domains.

Create Apps

If you have interest and knowledge in making apps and android programming then you can start your own app making online business.

Website themes

If you know web development then you can develop different industry-specific website themes and sell them online.

WordPress Plugins

Enhance WordPress functionality by creating premium plugins. Selling plugins is a good source of revenue.

SEO consultant

Become a Search Engine Optimizer and provide your expertise to different companies online.

Viral video maker

If you know motion graphics or video making, you can take contracts of creating viral videos for other companies.

Making chatbots

ChatBot expert Murray Newlands once said that “Where 10 years ago every company needed a website and five years ago every company needed an app, now every company needs to embrace messaging with AI and chatbots.” It has reached a point where every online business needs a chatbot on their website, across different industry sectors.

Digital marketing consultant

Digital marketing is a huge umbrella which comes SEO, social media marketing, email marketing, content marketing and so on. You can offer digital marketing services to different companies online.

There are innumerable ideas that you will get when it comes to starting your own business. However, you need to know which one is best for you, your mental temperament and your budget. You must feel passionate about the idea. Follow your gut feeling, trust your instincts, and do some good homework before you start.

https://samplecic.ch/20-exciting-business-ideas-that-you-can-start-for-10k-or-less-2.html

The Start-Up Chile accelerator was arguably the spark that ignited Chile’s entrepreneurial ecosystem. The Chilean government, through the development agency CORFO, founded Start-Up Chile in 2010 as a way to bring in foreign entrepreneurs who would galvanize Chile’s transition into an economy built on technology and innovation. Since then, Start-Up Chile has accelerated over 1,500 startups, of which 51.1% were still operating in 2016.

When it was first founded, the program was meant to “change the nation’s culture towards entrepreneurship and to position Chile as the hub of innovation for Latin America,” but its impact has significantly surpassed that goal. While economic growth was not one of the goals CORFO originally planted in 2010, Start-Up Chile companies have collectively raised US$30.5M in Chile and over US$420M abroad. Meanwhile, these startups have created at least a total of 5,162 jobs in Chile and across the globe as of 2016.

Start-Up Chile set out to enact social and cultural change and to place Chile at the center of the Latin American startup ecosystem. However, measuring its success requires going beyond the economic value of the accelerator. After all, Start-Up Chile emphasizes that they want startups to get more out of the program than just the money (US$40K equity free in the Seed program). These companies receive mentorship, entrepreneurship training, and opportunities to raise capital, while also becoming part of a global network of more than 3,000 entrepreneurs worldwide.

So what impact has Start-Up Chile had on a global scale? From Cabify to CargoX, the accelerator has supported some of the most successful companies that are operating in Latin America today. Many of these startups have expanded globally, raising hundreds of millions of dollars, and have dominated in their industries. One of the best ways to analyze the impact of Start-Up Chile is through their eyes, which allows us to understand how the accelerator boosted them to reach international success.

Here are some of the ways Start-Up Chile has prepared tech startups to tackle the global market.

Teaching founders to ignore the startup hype and create a valid MVP

Statistics show that between 70%-90% of startups fail. Raising capital doesn’t seem to help, as 75% of startups that do also fail. Experts and entrepreneurs tend to attribute failure to a lack of focus on building a product that solves an actual problem and Start-Up Chile is meant to provide entrepreneurs with the time and space they need to find product market fit.

Thomas Allier, the CEO and Co-Founder of Viajala, noticed that his most successful peers in Start-Up Chile in 2013 were those that were “working silently with a strong focus and without making much noise.” Few of the companies that had won unofficial ‘awards’ such as “Most-likely-to-IPO” are still operating today, said Allier. He is adamant that Start-Up Chile’s focus on building a viable MVP was the secret to their success.

Beyond giving him time to focus on developing his product, Start-Up Chile taught Allier to launch early, and with the right people on board from the start. The program also made it possible for him to do so. “Start-Up Chile gave Viajala early recognition that enabled me to get the right people on our bus. We are still out there and growing five years after starting the program because we had the discipline to launch extremely early on which gave us enough time for a few iterations and a growing line of revenue.”

Today, Viajala is the single largest travel metasearch company in Latin America. They process over 3.5 million travel searches each month and have already reached yearly revenues of over US$3M, all with having raised relatively little capital. Beyond the grant from Start-Up Chile, Viajala raised less than half a million dollars to date. They currently employ more than 20 people across four countries in Latin America, running Viajala out of their headquarters in Medellin, Colombia.

The value of building a global network

The Start-Up Chile network includes over 3,000 entrepreneurs from 1,500 startups across the globe. Ranked by some as fourth best startup accelerator in the world, and the best in Latin America, Start-Up Chile carries with it a sense of community that follows startups throughout their lifetimes. The Intern Group, a company that helps students access international internships, has maintained an office in Santiago since they participated in Start-Up Chile because the network and ecosystem are so strong and supportive.

While The Intern Group has headquarters in London, UK, CEO and Co-Founder, David Lloyd, considers the contacts he made during the program among his closest friends and mentors. “Meeting with as many other Start-Up Chile companies in my generation as possible was key. Some of these people turned into lifelong contacts,” he comments. The network provided by Start-Up Chile has helped The Intern Group maintain a strong presence in Latin America, where they have offices in Santiago and Medellin.

Since participating in the accelerator, The Intern Group has grown from a yearly revenue of less than US$10K to almost US$15M in just six years. While their first program had only ten students, The Intern Group now hosts over 2,000 students per year. Lloyd emphasizes that the money, while helpful to an early-stage startup, was the least important part of the experience. “The US$40K was great but small fry in comparison to the environment, learnings, and the network we made.”

Putting Chile on the global map as an entrepreneurship hub

When Start-Up Chile debuted in 2010, the small country gained significant publicity. Since then, the accelerator has been one of the leading factors in putting Chile at the center of the global conversation about Latin American entrepreneurship. Over 9,700 articles have been written about Start-Up Chile across 141 countries, and the program has inspired 50 government-funded accelerators worldwide, from Jamaica and Puerto Rico to Peru and South Korea. Numerous growing companies like Cabify, CargoX, Doist (creator of Todoist), Datacampfire, Slidebean, and Keyword Tool owe at least part of their success to the network, funding, and training they received from Start-Up Chile.

Most importantly, many of these companies continue to operate in Chile, or at least in Latin America. Some of Start-Up Chile’s critics often point to the fact that some companies take advantage of CORFO’s generosity and leave immediately after the program. However, more than one-third of the companies that have gone through Start-Up Chile maintain an office in Chile, and a more substantial proportion continue to operate and provide services in Chile and Latin America. Chile now ranks 7th in the world for total entrepreneurial activity and accounts for 50% of the entrepreneurial activity in Latin America.

Start-Up Chile has undeniably placed Chile on the map as a hub of innovation in Latin America and around the globe and has enabled the growth of many of the startups that are dominating the Latin American market today.

https://samplecic.ch/how-start-up-chile-helps-entrepreneurs-and-chile-alike-2.html

Forever gone is the era when workers assembled each day at the office. Today, they’re just as likely to be working from home or spread across the globe. Collaboration has always been important among teams. But with team members no longer literally sitting side by side, collaboration tools are vital to preventing ineffective silos.

Business leaders are increasingly aware of the value of modern collaboration tools in ensuring teams stay connected. A recent survey from GoTo by LogMeIn found that 73% of businesses plan to increase spending on collaboration tools. Artificial intelligence plays a big role in these tools’ streamlining and efficiency, enabling digital assistants and automated administrative work. Put another way, AI-empowered collaboration tools are improving modern workers’ daily lives.

New Technology for a New Way of Working

Remote work doesn’t appear to be a passing trend, and it’s not just Millennials who desire flexibility. Recent surveys by Deloitte and FlexJobs found that workers of all ages appreciate autonomy in how, when, and where they complete their tasks.

The rise in remote work is occurring at precisely the same time that businesses are grappling with a talent gap. A lack of available talent is a top threat to business growth, according to a survey of CEOs by PwC. This gap is also feeding an uptick in remote workers: To attract and retain top people, companies are embracing remote or flexible arrangements.

This new way of working calls for new technology and new ways of forging connections among colleagues. Collaboration tools like Google Drive and Slack are as essential to success as the coffee machine and the copier were. These tools seamlessly connect remote workers to each other and their in-office counterparts. They increase productivity, lower costs, and even increase ROI. Collaboration tools also help companies maintain a strong culture — a keystone of success — in the absence of physical proximity.

Finally, collaboration tools can keep employees happier and free them up to focus on important work. An ICP studyfound that companies using Slack cut their email volume in half and held 25% fewer meetings. These companies experienced a 32% boost in productivity — probably because workers weren’t sifting through emails or sitting in pointless meetings.

Smart Technology Requires a Smart Strategy

Simply introducing new technology won’t immediately result in effective collaboration, which Slack’s 2018 International Work Perceptions Report defines as a melding of easy communication, mutual trust, and clearly outlined responsibilities.

Culture absolutely must inform the choice of technology and its integration into the workplace. If you haphazardly introduce new tech solutions without understanding the problems or hurdles your team faces, you could end up exacerbating issues.

Companies also make the mistake of confusing high usage of a tool with being a marker of its success. For example, many collaboration tool vendors, such as IBM and Salesforce, have copied features from social media platforms. This could mean workers are communicating more smoothly, or it could mean they’re spending a lot of time chatting. After all, sites like Facebook are designed to suck you in and never let go. The lesson here is to pay attention to how certain features are used and how they’re truly contributing to productivity and collaboration.

3 Ways to Use Tech for Enhanced Collaboration

Better collaboration equals better results. Much better results, in fact: A survey by the Institute for Corporate Productivity found that companies with collaborative environments are five times as likely to be high performers. To help your team perform stellar work, consider these tactics:

1. Make use of social tools.

Social tools can facilitate communication and streamline operations. According to “The Digitization of Collaboration” survey by Harvard Business Review, 76% of companies now employ social tools. What’s more, employees say these tools are causing notable improvements in productivity, the speed of problem-solving, and employee engagement. “Social applications allow people to work not just faster and cheaper, but also in ways they simply couldn’t have done before,” explains Heidi Gardner, distinguished fellow at Harvard Law School’s Center on the Legal Profession and author of “Smart Collaboration.”

International aid organization Oxfam, for example, used a social platform to destroy email silos and improve collaboration and communication. Without the social tool, communication among Oxfam’s coalition of 20 independent charities was arduous.

2. Mix up reality.

Virtual and augmented reality are reshaping team collaboration, facilitating remote team project discussions, and providing virtual workrooms. “While the latest AR/VR and 3D technologies have been applied to the worlds of gaming and entertainment for years, the opportunity for more immersive experiences within enterprise learning, training, and workflow management is now, for the first time, on the verge of global adoption,” says James Henry, chief technology officer at PureWeb, an interactive 3D streaming service.

One such tool is Microsoft’s HoloLens, a mixed-reality headset by Xbox that represents the entertainment brand’s foray into business applications. HoloLens users can see 360-degree views of virtual spaces, create 3D items, and see holograms during video calls.

3. Unburden workflows with AI.

AI is key to honing and automating workflows. It can streamline workflows by handling repetitive tasks, eliminating human error, analyzing risks, and tracking schedules and budgets. Chatbots, for instance, can schedule and transcribe meetings, proofread content, and automate communication when project steps are completed. Chatbot technology has already been integrated with platforms such as Slack, Cisco Spark, Microsoft Teams, and others.

AI can also help filter and organize information, protecting workers from the constant and overwhelming stream of interruptions and data that modern collaboration tools sometimes produce. Slack, for example, uses collaborative filtering to free up workers to do what they do best: lead teams and dream up creative ideas.

Technology has rescued us from the days of “butts in seats,” and it’s providing the means to ensure that remote work really works. New collaboration tools incorporating AI, VR, and other cutting-edge tech are improving the way we collaborate and communicate, making virtual teams an asset instead of a liability.

https://samplecic.ch/how-to-achieve-tech-powered-collaboration-in-the-era-of-remote-work-2.html

Medical tech startups are regulated by the FDA and must abide by strict regulations at all times. For example, all medical devices must be approved by the FDA. Acting outside of the FDA’s regulations can result in harsh penalties including fines and even jail time.

Whether your medical tech startup produces low-risk or high-risk devices, compliance is a crucial and complex necessity.

1. Stay on top of regulatory changes

If you don’t stay on top of regulatory changes you could be in trouble. For example, the recently adopted GDPR regulations threw a wrench in every business owner’s compliance protocols. Businesses owners had a short period of time to comply before penalties would be legally assessed for violations.

The same can happen in the medical tech world. One day, you might be comfortable with the current regulations and the next day there’s a new regulation you need to comply with. Or, a current regulation might be amended.

The best way to stay ahead is to stay on top of proposed changes in regulatory compliance. Nothing becomes law overnight without a process beforehand.

2. Warn patients not to mix-and-match components

It’s important to warn against swapping out unauthorized device components for any reason. Patients may not understand why they shouldn’t use other components with their device. It’s critical to warn that using unauthorized components can result in injury and/or death, depending on your device. These warnings should be placed in the box for patients and in the literature given to health care providers.

Patients need to understand that the FDA authorizes medical devices for a specific use even when there are multiple components involved. For example, an automatic insulin dosing system comes with several authorized components including an insulin pump, a glucose monitoring system, and an algorithm that determines the dose of insulin. These three devices are tested and authorized together as a complete system.

Sometimes patients decide to mix-and-match components from other systems (or they buy a cheaper, unauthorized component to replace one that broke) and it doesn’t work correctly and ends up harming the patient. For example, the FDA received a report of a serious adverse event related to a blood glucose monitoring system. The system was used with an unauthorized component and resulted in an insulin overdose.

3. Keep a tight watch on your electronic record practices

According to Title 21 (Part 11) of the Code of Federal Regulations, all computer systems used to create, modify, and maintain electronic records and signatures (including mobile devices) are subject to FDA validation. All hardware and software must be readily available at all times for FDA inspection. Arbour Group explains 13 key elements of these regulations including:

• Validation of systems to ensure accuracy, reliability, consistent intended performance and the ability to discern invalid or altered records.
• Ability to generate accurate and complete copies of records in both human readable and electronic form suitable for inspection, review and copying.
• Protection of records to enable accurate and ready retrieval throughout the record retention period.
• Limiting access to authorized individuals.
• The use of secure, computer-generated, time-stamped audit trails to independently record the date and time of operator entries.
• Record changes shall not obscure previously recorded information and audit trails are to be maintained as long as the associated electronic record.
• And more

Handling electronic records according to regulations can’t be done on a whim. Compliance requires a strict system that uses software to restrict access and secure records, among other tasks. Compliance with electronic records regulations are complex. The stakes are too high; there’s no room for mistakes.

4. Be absolutely certain if you don’t think your product qualifies as a device

When you think of medical devices, you probably think of pacemakers, syringes, and nebulizers. However, even a simple tongue depressor is considered a medical device and subject to FDA regulations.

Whether or not something is considered a medical device is determined by The Federal Food Drug & Cosmetic Act. In summary, a product is considered a medical device when:

• The device is used in the process of diagnosing, treating, or preventing a disease or condition. Tongue depressors meet this qualification.
• The device is intended to affect the structure or function of the body without chemical action. This qualification separates drugs from medical devices.

If you’re not sure if your product is a medical device, head over to the FDA’s CDRH Classification Database to review products the FDA considers devices. If you find something that matches your product, it’s probably considered a medical device and is regulated by the FDA.

5. Don’t go to market without a pre-market application

There are two ways you can bring your product to market, but just launching on your own isn’t one of them. If your medical device is considered a Class III device, you’ll need to go through the Pre-Market Approval (PMA) process. If your device is a Class I or II device, you’ll go through the 510(k) process.

With the 501(k) process, you must demonstrate the device is “substantially equivalent” to a previous device. If this is the path you must take, you’ll need bench testing data and a small clinical study. The process may only take a few months.

The PMA process is more involved. You’ll need to perform larger, multi-center, randomized clinical trials to obtain your data. You can expect to involve hundreds or thousands of patients in your trials and it will likely cost in the tens of millions of dollars.

The FDA is strict with PMAs and in 2012, only approved 37.

6. Know that apps aren’t automatically exempt from regulations

Health apps are abundant, claiming to measure your pulse, heartrate, and some apps even claim to help you lose weight. It’s unclear whether these apps are accurate or just for fun, but the FDA doesn’t care – when an app claims to do something that is also accomplished by a medical device, the app might require regulation.

The FDA announced they don’t plan to review all medical apps but will stay focused on apps designed for use with FDA-approved medical devices. However, that doesn’t mean you’re off the hook.

Apps are hot, but before launching a health-related app, find out if it requires regulation. It might sound silly now, but if a consumer misuses your app in the future and suffers harm, they might end up suing you.

7. Stay caught up with medical device lawsuits

Stay caught up with medical device lawsuits as a reminder that details do matter, and violations are enforced.

When you send out your weekly or monthly newsletter to your team, include a section for recent news. Use that section to make your team aware of any current lawsuits, fines, and other penalties paid by companies who chose to ignore compliance regulations. Keep the reality in their awareness so they’re not tempted to take shortcuts or forge data behind your back.

Medical device lawsuits are abundant. For example, in December 2018, Minnesota-based medical device manufacturer ev3 agreed to plead guilty and pay $17.9 million for disregarding safety laws. The company distributed a neurovascular medical device called Onyx. Onyx, a liquid embolization device, was originally approved by the FDA for use inside the brain.

According to the FDA, between 2005-2009, sales reps from ev3 encouraged surgeons to use Onyx outside the brain in unproven and dangerous ways. The company was told they need to perform a study to get those uses approved, but the company ignored the warnings. The company incentivized sales reps to promote unauthorized uses and the sales reps even attended surgical procedures where they instructed surgeons on what to do.

8. Prepare to conform to regulation changes

It’s possible that your device’s technology might be ahead of current regulations. If you’re an innovator, expect to be required to comply with regulations you may not have needed to comply with when you first launched.

Be aware that regulatory changes in the European Union and Canada can affect your company in the United States. For example, the Medical Device Single Audit Program (MDSAP) was adopted in the U.S., Brazil, Canada, Japan, and Australia. This program is designed to enhance product quality and safety and help determine the lifecycle of a product.

The MDSAP program also changes the way inspections are performed, so be ready and willing to do things differently when required.

Don’t move forward before you’re ready

Avoid troubling situations by following regulation requirements from the start. Don’t procrastinate or skip any duties you have to the public. Don’t announce your device’s efficacy before the data comes in. Know for sure before you start marketing your device. It’s tempting to start marketing before your trials have been completed, but if the data doesn’t live up to your expectations you’ll be in a bad situation. You’ll either need to lie to move forward, or admit a mistake to make things right.

If you need more time to conduct trials and studies, take that time. People feel better about using medical devices when there’s strong evidence they’re safe and effective.

https://samplecic.ch/regulatory-tips-for-medical-tech-startups-regulated-by-the-fda-2.html

Virtually every startup has to find funding somewhere. Although some founders take venture capital in exchange for equity, that’s not the only way to do it.

To learn more about the pros and cons of venture capital — and founders’ funding alternatives — I caught up with Mark McKee. Before being named president and COO of OnPay, a growing online payroll solution for small businesses, McKee worked as managing director of The Lenox Group, where he advised growing companies on how best to raise and structure capital.

Here’s his take:

Brad Anderson: As someone who’s worked in investment banking and been an early employee at a startup, do you think most founders understand their financing options? Why or why not?

Mark McKee: Most first-time founders I’ve met don’t, frankly. Serial entrepreneurs usually have a sense of the funding landscape, but new ones typically assume venture capital must be the right route.

In my mind, that’s for two reasons: The economy is good, so venture investors are flush with capital. That creates a market where equity funding is top of mind.

The other piece of the puzzle is that equity deals tend to get a lot of press coverage. That makes new founders think, “Oh, this must be the way to go.” Oftentimes, it is. But there are real trade-offs that many first-time founders aren’t aware of.

Anderson: So is venture capital the right approach for most startups? What are the pros and cons?

McKee: I think equity funding can be the right answer. Any type of funding can be an accelerant, but that doesn’t necessarily make the work of an entrepreneur any easier. The journey is hard, whether you take venture money or not. 

With that said, there are some real advantages to it. VCs have been through it before. They can provide guidance, experience, and introductions that many new entrepreneurs struggle to get otherwise. 

The trick is to make sure they’re aligned with your plan: How big do you want the company to become before you make your exit? How do you collectively plan to finance the business as it grows?  Are they happy with the marketing and branding? Do they want you to expand to other markets and geographies?
That’s one of the real cons of venture capital. You typically have to give up control. When you give up some ownership to investors, you need to be ready to accept their input.
Do a gut check. Before taking any money, make sure your investors are smart people who can support the growth of the business. If you’re aligned on the front end, you drastically decrease the chances of conflict later.
Once you bring in equity, you need to be comfortable with that path. If you’re doing well, VCs will want to put more money into your company. If you’re doing really well, it becomes hard to take existing investors out at a reasonable valuation. But if you’re not doing well, of course, it becomes tough to bring other investors in. 

Anderson: What if founders aren’t willing to accept those cons? What alternatives should they consider?

McKee: If you’ve grown your business to the point of positive cash flow, you should explore debt options. OnPay took private debt, but alternative lenders like Kabbage are great options as well. SBA loans are another low-interest route to consider.
If you do know a wealthy individual who would guarantee a loan for you in exchange for options in your business, go for it. That way, that person doesn’t have to outlay the actual cash. Your bank will be happy, too.
One area I think is often overlooked is grants and competitions. It’s non-dilutive capital you don’t have to pay back, plus it tends to create a great PR opportunity. You could try an online platform like Kickstarter, but you’re probably better off entering a venture competition. 
Basically, a bunch of tech startups pitch or demonstrate their product to a committee. The winner usually gets somewhere between $10,000 and $100,000. It’s a supplemental source of funding — and winners often get the attention of local VCs. 

Anderson: Can you describe how OnPay has viewed fundraising and how your path has worked for you?

McKee: We’re a payroll software company, but we spun out of a traditional payroll firm. That initial structure didn’t allow for us to bring in an equity growth investment. We bootstrapped the company, operating in a break-even cash flow environment.
That was tough, and we were eventually able to take on some debt. We reached out to high-net-worth individuals and small funds. We used those assets to growth further; now, we have equity investors and a bank loan.It wasn’t necessarily easy, but that path worked for us. Our approach is to be capital-efficient; we only take in what we need. We view ourselves as stewards of our investors’ money.  

Anderson: What if OnPay hadn’t self-funded at the start? What can other entrepreneurs learn from OnPay’s approach?

McKee: If you can get equity funding early, do it. Had OnPay’s initial capital structure allowed for it, we would’ve done it. You need all the money you can get when you’re first exploring what an idea can be.
Be patient if venture investors aren’t biting. We couldn’t take equity money, so we found other ways to finance the business until we found product-market fit and started scaling. We took money from smart people with the experience to help us, and it actually put us in a much better place today.
Just as importantly, bet on yourself and your team. We’re proud of OnPay’s people because they allowed us to stretch. Before we raised equity, we knew we were asking a lot from our team. That was frustrating for us at times, but we pulled through.

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One of Silicon Valley’s most compelling attributes is its lack of interest in the traditional bottom line. While most companies focus on revenue and profitability, Silicon Valley leaders tend to view valuation as a success barometer. Because of this mindset, Valley-based companies don’t mind taking significant risks as long as they help achieve big-picture visions. But we can learn from Silicon Valley about blockchain Adoption.

What is the Risk of Blockchain?

One new risk that has begun to pay off is blockchain, and non-Valley companies are taking notice. The International Data Corporation predicts that blockchain spending will reach $11.7 billion by 2022 and extend its reach beyond the tech and banking industries.

Who Embraces Blockchain?

Despite blockchain’s obvious applicability to several industries, it’s a solution that some leaders still haven’t embraced. Some of that hesitation stems from a confused association with cryptocurrency, which has good and bad connotations. Some, however, is because of blockchain’s perceived small impact on the bottom line. In 2019, however, blockchain’s potential value is becoming more apparent.

Most leaders who are aware of it are seriously considering its use cases, while more skeptical executives now find themselves much more open to investing in the technology. Silicon Valley drafted the blueprint for embracing blockchain — it’s time for companies beyond the Bay Area to take a risk and follow suit.

Clearing Up Blockchain Confusion

Similar to any emerging tech, blockchain comes with a slew of new terms and terminology that don’t necessarily mean a lot. People interested in creating unique marketing opportunities for themselves can take advantage of the buzzy nature of terms like blockchain, artificial intelligence, and big data. These buzzwords enable them to peddle products or services that don’t really do anything new — or don’t actually exist.

Misinformation is floating around, and C-suite executives are understandably dubious of new technology.

Because so much misinformation is floating around, C-suite executives are understandably dubious of new technology and hesitant to embrace more modern solutions to old problems.

To get a better sense of blockchain’s value, leaders must understand the truth regarding several common misconceptions: • It’s the same as bitcoin.

While blockchain is essential to how cryptocurrency works, it’s worth doesn’t begin and end with bitcoin. At its core, blockchain is a decentralized and secure way to keep digital records. A blockchain consists of different “blocks” of data that are connected to others using cryptography, creating a string (or chain) of information stored on a variety of computers.

What puts blockchain over traditional methods of business logging is its transparent and immutable nature. It can’t be tampered with or changed, and every block can be accessed and viewed. Protection of the block creates a clear and complete line of accountability, which is useful for more than just creating money.

• It replaces relational databases.

Because services like SQL Server and Oracle cover similar territory as blockchain, some people assume it’s meant to replace more traditional relational databases. However, blockchain platforms are still mostly nascent and aren’t intended to replace more entrenched solutions. Blockchain exists as more of a complementary option.

• It gets rid of the middleman.

While it’s true that blockchain has enabled Bitcoin to eliminate intermediaries from its transactions, that’s not the case in other applications. As long as transactions remain in an internal ecosystem, they don’t require outside validation. When it comes to interacting with the world at large, however, intermediaries can still help with data input and identity verification.

• It’s just a public peer-to-peer system.

The big selling point of many blockchain implementations is the public nature of each transaction. This transparency has led many businesses to believe that blockchain can only exist in a public setting — or that creating a permission-reliant application isn’t possible. While that’s currently the most common version, blockchains do not have to be open to every participant. They can be limited to only those who need to know certain information.

Like any new technology, the success or failure of blockchain’s adoption rests in its applications.

Executives need to look past the marketing jargon and flashy promises that make blockchain look like a messy tech fad.

They must instead figure out their own core goals — and then decide whether blockchain can help them reach those goals faster.

Blockchain’s Place in Today’s Business Environment

For businesses, one benefit of Silicon Valley’s risk-taking nature is that it allows others to learn from its successes and failures. Here are a few ways that blockchain already has proven its worth:

1. Coordinating Document Control and Third-Party Sharing

Despite its reputation as a publicly distributed solution, blockchain is a perfect way to securely share information without risking it getting into the wrong hands. In industries such as healthcare, where security is paramount, this could be a game-changer. It gives the right people easy access to comprehensive data with significantly reduced security risks.

2. Partnering With AI to Improve Oversight and Insights

In traditional workspaces, databases often turn into data silos — centralized sources that are hard to share across departments or between companies. Blockchain, however, should be shared with those who need it as a perfect universal repository for businesses or entire industries.

This sharing is critical not only to better communication but also to better data insights. As more information is gathered and shared, machine learning gleans patterns from these findings. Furthermore, what might not be apparent to one expert could be evident to someone who has different skills or knowledge — enabling outside-the-box thinking that is not possible with data silos in place.

3. Improving Sourcing With Customer Data

Because blockchain is so easy to distribute securely, collaborators can readily collect, read, and analyze information from all over the globe. When it comes to identifying which vendor produces the highest-quality product, data from customers can give accurate insight into which direction to take.

4. Predicting Equipment Maintenance Patterns

Platforms such as TMW Systems offer solutions that use blockchain to alert companies when something goes wrong. They also collect data about each occurrence. Allowing companies to understand when and why pieces of equipment fail can save capital and time in the long term.

Blockchain is no longer a technology best left to the inhabitants of Silicon Valley.

There are specific use cases that any business can put into place, and blockchain is no longer a technology best left to Silicon Valley. For executives, it’s no longer enough to wonder whether you should consider blockchain — you should already be figuring out how to best put it to use.

Image Credit: jorge-fernandez-salas-f5OO7rL6OD8-unsplash

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It can be challenging to realize that you are in the midst of a moment of personal growth when it comes to business. As the day-to-day of your professional life moves more quickly, you are likely to evolve in your career.  Sometimes you change in your leadership role without even realizing a transformation has occurred. But, you’ll want a leadership guide for every business growth stage.

Through every stage of growth, your business transitions to new knowledge, systems, and management.

As this transition occurs, you and your role within the company changes too. I have found that revenue and headcount together are useful markers for uncovering where you are as a business. These precursors are there to warn you about the leadership role required. Typically, more revenue leads to the need for more employees. And, more employees leads to greater business complexity.

As tangible growth occurs, you will need to adjust your leadership style.

Fewer touchpoints with the expanding employee base alone can drive this need for change. Looking back on how I have evolved as an executive, I’ve come to delineate my transitions to four distinct stages. Each stage has informed and evolved my personal leadership growth as well as the skills and approaches required of those around me.

• Stage 1: This first phase is associated with roughly $0 and $10 million in revenue and typically less than 50 employees. Usually, everyone in the organization knows a lot of the organization’s day-to-day and interactions are very cross-functional; sometimes, a single individual is wearing multiple hats of responsibility.
• Stage 2: The second phase is demarcated somewhere between $10-25 million, and you are likely approaching the 100-employee mark. In this phase, cross-functional responsibilities and “athletes” begin to be replaced with individuals with specific domains of expertise.
• Stage 3: The third phase is far removed from the first phase. ARR is now moving from $25M to over $100M, and your headcount has at least doubled to the north of the 200 million mark.
• Stage 4: In the fourth phase, revenue is moving to the north of $500 million, and headcount is likely expanding rapidly on both an organic and inorganic (M&A) basis. Phase IV begins to mark the transition into a platform business as opposed to a limited product company.

(For the sake of this discussion we will only focus on these first four phases.)

As an entrepreneur looking to become a business leader, you will need to know and anticipate how and when your role within the company will need to evolve. Watch and be aware of what is necessary as your organization matures through these phases.

The Entrepreneurial Spirit

The first phase is often a bit messy because it is the period when the entrepreneurial spirit is strong, and rapid pivots are often critical. A better moniker for this is the “figure it out” phase. To be clear, in this crucial phase long-term planning is not always optimal. This period is often focused merely on survival. The points may also be incremental points of substantiation to the company’s value proposition.

These incremental gains are critical to surviving your way to another investment cycle.

Watch as you move through each investment cycle contained in another quarter, another month, another week, and even another day. The company and all who work in it need to have a survival mentality. All of you must be trying to get the business off the ground with the goal of keeping it in the air. At this phase, your thoughts are not centered on leadership; it is a phase of pure entrepreneurship – pretty or sustainable are less important than good enough and validated.

This phase is often defined by the will of a single individual or a limited number of individuals putting the organization first no matter what.

Sometimes the founder is carrying all the weight on their backs and doing whatever is necessary to get to the $10 million thresholds of sustainable profitability and product validation. As your organization approaches $10 million in ARR, you start to understand better whether or not your concept has a market and is sustainable.

What is the primary value we provide to our customers? Think of the Pony Express.

Why do clients and customers buy from us repeatedly? What distractions or legacy thinking overhangs exist and is our value proposition in the best “package” or could that “package” change or evolve? I like to utilize the tale of two cities to illustrate this latter point best. I use the cities of St. Joseph, MO, and Kansas City, MO. I grew up in Missouri, and for me, the story of the evolution of St. Joseph and Kansas City typifies the potential pitfalls when you fall in love with your “package” vs. your “value.”

St. Joseph, MO was home to the Pony Express; this city was the hub for moving information and resources from the East to West. What the people of St. Joseph and the Pony Express were good at was moving information and goods. The moving of this information and goods was their value proposition.

The business of the Pony Express’ first business iteration was delivering this value (information and goods).

They came up with using a series of cowboys, on horses, creating a relay for the movement of this information and goods (not pretty, but practical enough).

However, a time came when the town of St. Joseph needed to move from its own Phase I and transition into Phase II. As the necessary “package” (the Pony Express business) was about to change. The entrepreneurial business plan was about to be replaced with a repeatable business model — because — it was scalable.

As the steam engine gained popularity and railroads became the next tool (package) for facilitating the value proposition.

The new tool (steam engine) was implemented for the moving of the goods and information. The city of St. Joseph passed on the opportunity to leverage this new technology. The city of St. Joseph erroneously believed their system worked the best (i.e., leveraging horses), and they had fallen in love with their system. The city was sure that what they had been doing in the past was the best, so they didn’t even consider a new idea, a new tool, or a new strategy.

Enter the railroad industry — a new tool.

When the railroad came looking (with their new tool) they looked elsewhere, ultimately discovering a no-name cow town further south to serve as their railway hub between the East and the West — and that town is now Kansas City.

The transition from Phase I to Phase II in business may very well facilitate some key pivots. You have to be laser-focused on your value proposition and to provide and to invest in a few core, repeatable strengths within your business.

Find Your Strengths and Double Down

In the second phase of your business, the focus will shift from survival to how you can hone the bullseye of your business’s core. You’ll focus on key strengths and the repeatability of your business’s solutions.

As an executive, you’ve evolved from being a startup entrepreneur to leading and initiating the creation of a system. Why something happens becomes more important than the fact that something happens.

You will need to begin to think and act for the long-term. Scalable thinking begins to replace survival thinking.

While you may have had an array of product offerings as you tried to find a market in the entrepreneurial phase by throwing a lot of spaghetti against the wall. By now, you will have discovered one or two individuals who are the main drivers of your business and value proposition.

As a leader in the growth stage, you will have taken the time to define the core areas of focus, and you begin to transition from a “get it done” mentality. You find your group of generalists and move to repeatable, systematic behaviors, approaches, and domain experts.

The entire business must become more systematic so that you can tweak and hone your processes for scalability.

In this business stage, you aren’t just using individual efforts to simply overcome or drive the outcomes for survival. The worry of day-to-day existence and the urge to simply intervene and “make it happen” must now be replaced with systemic learnings.

The stage of letting go of a few things can be a tough transition for many founders/entrepreneurs. For example, you’ll have to resist the urge to jump in and take over the sales meeting and allowing a new sales rep to fumble their way through.

Here is where your leadership has to move forward. You can’t stay in the “fumbles” approach.

You have to move to informing your team with a systemic approach to training, coaching, and onboarding key individuals. This can be accomplished even better with technology. I often refer to this stage with my colleagues as allowing ourselves to blow off digits (creating incremental learning lessons) vs. severing limbs (losing the sale, in this example).

It is a dangerous journey finding this balance and can be very difficult for managers. This stage is critical to making it through Phase II successfully.

While you’re identifying the vital aspects of the business and improving the system — something else — potentially dangerous happens if you don’t pay attention. You’ve added a large number of new employees, and the day-to-day decision-making moves further away from the leadership team.

The “central nervous system” of the organization has migrated. The effectiveness of the systems and processes that are created throughout Phase II — will now become exposed in Phase III.

Crossing the Founder’s Chasm: Entrepreneurship vs. Leadership

Phase II has been about leading the team to establish systems. You have removed the emotional tendencies to allow learning moments. Your system improvement observations have taken place. If you were effective in Phase II, you would have felt yourself begin to slide back, empowering the domain experts and allowing the business disciplines to take over.

Phase III is about the transition from the front of the line leadership to what I like to call dog-sled leadership.

In Phase III, the team and disciplines (processes, systems, cultural tendencies) must now guide the business. Your role is to support the identified needs of the team. Phase III is a natural transition to simply guiding the team vs. pulling the team. Leadership vs. Entrepreneurship is now in full effect.

In Phase III,  you know what the company can do well. You have faced what the market actually wants. The question now becomes at what velocity can you execute.

As the leader of the business, you need to develop new abilities.

You are no longer an entrepreneur focused on what the market is telling you. You need to step away from your emotions and pride of ownership and move into systems that empower others to be excellent in their roles.

You need systems and processes for almost everything your organization now effectuates.

• evaluating market/user feedback
• training
• onboarding the team
• aligning the team’s objectives
• assessing performance
• consistent sales, servicing models and escalations
• Standardization of the back-office. By now, mistakes can’t repeatedly be happening, as you shouldn’t be making the same mistakes twice.

Through the prior two phases, you have been the lead dog on the team. But as you cross the founder’s chasm to real leadership, you are now sitting in the musher’s chair.

As a musher, your job isn’t pulling in a single direction – you need to be focused on aligning the entire team, feeding and nurturing the team and letting the crew pull the sled. You are now merely setting the direction of the company, and the team is doing the pulling.

You must now focus on making sure they are happy, healthy, and pulling in the same direction. At this point, you and the leadership team have moved out of specialty roles where you know all aspects of the processes and operations to hire and round out teams of highly-specialized experts.

Show Me Your Friends, and I’ll Show You Your Future

The final stage of leadership is a bit more challenging to break down. The one key factor I’ve discovered that leads to success at this stage is the processes and systems that were key to leadership in the evolution of the business through the prior three stages.

At this point, you need to be critical of who you surround yourself with. Honestly, this is the key to ultimate success as you’ve grown into a substantial organization.

Placing your trust in your leadership team is crucial to ensuring that your business continues to be successful.

• You will need to trust them to understand the importance of having difficult conversations.
• Speaking up when something is going wrong
• Passing on to your team the ability to take a critical eye to the business and the rest of the organization.
• Ensuring the people who are going to take over your previous roles have the skills and confidence to run the company.

If you are traveling at an excessively high speed, even a small wobble can cause the wheels to come off.

To avoid having any part of the business come apart, you need to surround yourself with people you trust to be willing, to tell the truth, and surface the difficult but necessary topics. It requires a high degree of confidence to believe that people will stand up and speak out when something is not optimal.

When you are responsible for running a business at scale, you need to be able to rely on a great leadership team who can avoid potentially harmful mistakes when something needs to be fixed.

As your business grows, the level of your day-to-day involvement will inevitably change. Hopefully, my own experiences serve as a rough guide to help you navigate your role during each step of your company’s journey.

https://samplecic.ch/leadership-guide-for-every-business-growth-stage-2.html

Can business run only on cold emails? Who reads emails these days? I know these questions must be popping up in your head. But let me tell you, cold emails can still help you in generating new leads for your business if done in the right way. Use the six steps to grow your small business with cold emails.

Many businesses still are using cold emails to drive sales. If you are in the notion that emails can only help you close small deals, then you’re mistaken. I have seen examples of companies using cold email to close large enterprise deals too.

These exact steps will help take you as a small business owner and generate great leads for your business. 1. Build a persona.

I have been into marketing for close to two years now, and my most important takeaway in this short span has been the importance of creating the right personas. If you can create the right persona, your half the job is done. But how can you create the right persona? Here are some tips.

The simplest way of creating a person is filtering people depending on certain factors. For example, if I run a marketing agency that serves startups, then I would target the Founders of the startup whose size is less than 50 employees. Get the details and let that help you to send targeted emails.

2. Investing in a tool.

Many people prefer sending cold emails manually, but that’s fine when you want to send 300 emails in a month. But what if you want to send emails at scale, let’s say around 100 per day. You’ll require a tool to help you send emails campaigns of this scale.

Not only will you be able to save on a lot of time, but it also helps you track a lot of metrics such as open rates, click rates & more. One tool that I came across the last few months that’s working well for me is Lemlist. It’s a great tool, especially when you are just starting out.

3. Sending the right emails.

The subject line & the email body is everything. It can make & break things for you. Let’s talk about the subject line first. Your subject line is crucial if you want your emails to be opened & read by your prospects. Try to be very precise with your subjects.

Some of the best subject lines include:

Quick Question
Question for <Company>

Keeping the subject line, a little simple helps a lot. Coming to the content, make sure you have these four elements in the body:

– Personalization (Name, Company Name ).
– Reason for reaching out (keep it short & simple).
– Social Proof.
– CTA (like a meeting link).

Avoid writing long emails as they tend to get fewer responses. Opt for short and sweet.

4. Follow up is the key.

Many people give up in the first followup itself. But following up multiple time is the key, there are times where people get replies even after the fourth or fifth follow up.

Also, make sure to personalize the follow-ups before sending them. Make sure to include a reason for following up each time. Unless you do this, there’s no use of following up, and you’ll end up getting mostly unsubscribes.

5. Quality vs Quantity.

Something that has always worked for me is focusing on quality rather than quantity. I know many would disagree with me, but quality always wins over quantity. So make sure to put your best efforts in each email so that you can end up getting more replies & open rates.

It’s not about the hard work but smart work.

6. Track your success.

Doing everything at the same time doesn’t help. Try to tabulate the success of each campaign before starting another one. By evaluating first, it will help you in executing the next campaign better. If you don’t want to invest in a tool, then you can use Google Sheets to track campaign metrics.

Some metrics you must note are – open rates, responses, link clicks & deals closed.

Conclusion

Hope you had few takeaways from the post. If you’re looking for other ways of the lead generation, then I’ll recommend you to try cold emails. They are still very effective if done correctly.

What are your tips for cold emails? Mention them in the comments below. I’d love to learn them.

https://samplecic.ch/6-steps-to-grow-your-small-business-with-cold-email-2.html