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4 Tips That Will Help You Pitch to Investors Like a Pro

Jan 28, 2021

When starting a business in the tech industry, you need to consider what you’re going to do when it comes time to pitch to investors. You may not be ready to start pitching to investors quite yet, but it’s never too early to start preparing — especially if you have a fear of public speaking.

A successful pitch is heavily based on your ability to talk to people and essentially convince them to give you money. As such, very few businesses can succeed in the long term without a successful pitch. After all, about 82% of businesses that fail do so because of cash flow problems. One of the best ways to combat cash flow issues is to convince investors to commit to your business from the start.

One challenge, of course, is that investors often hear from many different tech entrepreneurs every year. Right now, a lot of people are interested in starting a business in the tech sphere. You’ll need to be able to prove in your pitch why your business is worth investing in. But how do you do that? Below, we’re looking into a few tips to help you pitch to investors and successfully secure funding. You don’t have to be an international public speaker in order to convince people to invest, though you may benefit from learning from one!

1. Hit That Elevator Pitch

You’ve probably heard about an elevator pitch before. An elevator pitch is a pitch that you could theoretically execute in the span of the time it takes to ride the elevator to your designated floor. Now, most investors will have more time than that to spare — but you still need to be able to deliver an effective pitch within a short amount of time. Most investors do not trust pitches that take a significant period of time to execute. They want to hear something punchy and quick.

Generally speaking, your elevator pitch needs to cover what you do, the problem your business solves, and what makes your business different from the competition. Don’t rush through it, but keep that elevator ride timeframe in mind when developing it.

2. Be Ready to Prove Your Results

When starting a business, it will take a while for you to gather proven data. If you don’t have results of some kind, however, you probably aren’t ready to start pitching to investors. Once you do have data, you need to make sure that it’s proven. There are a lot of tech entrepreneur resources available to help you gather and display pertinent data. But savvy investors will be able to tell if you’re trying to lead them astray. Don’t even try it. Instead, make sure you do your homework and can back up your claims.

3. Know Your Audience

If you’re looking for investors or tech entrepreneur partners, you need to know who you’re pitching to. Are you pitching to people who invest just to make money? Or are you pitching to people who want to take active roles in the businesses they’re investing in? The more you know, the easier it will be for you to provide targeted information that will appeal to them specifically. Now, you won’t always know exactly who you’re pitching to. But you should be able to get a general idea before heading in to make your pitch. Don’t go into a pitch completely blind; rather, take the time to know your audience as thoroughly as you can.

4. Work On Those Speaking Skills

When pitching, you’re essentially telling a story. You may be telling a story that is backed by evidence, but it’s a story nonetheless. You need to be able to engage your audience and draw them in so that they feel compelled to invest. While data is important, it can also be boring — so you’ll need to supplement that dry information with an emotional buy-in, which often comes in the form of storytelling. For a lot of entrepreneurs, starting a business is actually much easier than telling that story. If you’re uncomfortable with pitching, try taking a public speaking course. Look up videos of successful pitches and try to hone in on what made them successful. And if all else fails, just be honest and relatable. You don’t need many bells and whistles. You just need to engage your potential investors.

Pitching can be scary, but it’s also an amazing point in the life of your business. Hit the ground running and focus on making a pitch that you can be proud of!

4 Tips on Refining Your Pitch as a Tech Entrepreneur

Jan 5, 2021

We all know that becoming a successful tech entrepreneur can be incredibly difficult. There are a number of obstacles in the way of every entrepreneur, including securing funding, competition from other companies, and simply finding a winning concept for a business. Perhaps one of the greatest challenges an entrepreneur can face, however, is winning support from other business owners and investors.

Very few entrepreneurs run businesses independently for the entirety of their career. An entrepreneur may own the majority of their company’s equity, but they usually will require partners or investors in order to scale up at some point. This is going to require crafting the perfect pitch. For those wondering about how to succeed as a tech entrepreneur, the pitch is perhaps one of the most key components that you will need to master. With that in mind, let’s look into some of the best tips for tech entrepreneurs that want to make the perfect pitch.

1. Take Public Speaking Classes

A lot of pitching is less about the product or service that is being pitched and more about how it is being presented. Yes, you will need a high-quality idea if you’re seeking how to succeed as a tech entrepreneur… but your idea will be no good if you’re pitching it without confidence, charisma, and the ability to explain big concepts in an easy to understand way. This doesn’t come naturally to everyone, and that’s okay.

One of the best tips for entrepreneurs to consider is taking public speaking classes. Public speaking classes help everyone become more confident and natural public speakers, but they are particularly helpful for those that actively face difficulties when public speaking. Roughly three out of four people suffer from speech anxiety, and generally speaking, this is not an issue that simply goes away because people want it to go away. Therefore, it’s vital that issues with speaking are resolved as quickly as possible through high-quality courses.

2. Create an Elevator Speech

You won’t always need to have an elevator speech available when pitching your business idea. At times, you will be allowed more time or even extensive meetings to pitch to investors or potential partners. But when studying how to succeed as a tech entrepreneur, you’ll soon realize that if you can pitch your idea within 30 seconds, you’ll be able to pitch your idea just as well within an hour. However, pitching during the shorter time frame is significantly harder to master.

Your elevator speech should summarize in 30 seconds or less what you do. The goal of the speech should be to make whoever is listening interested enough to ask additional questions. Define why you’re different, and the investors or potential partners would want to work with you.

3. Know Your Audience

The more you know about your audience, the easier it will be for you to craft a pitch that appeals to them specifically. If you’re seeking how to succeed as a tech entrepreneur, you need to understand who you’re pitching to, and why they need you as much as you need them.

Sometimes, entrepreneurs won’t be able to know everything about everyone that they’re pitching to. If you’re pitching at a trade show or convention, you may essentially be pitching to a crowd. But if you research that show or convention, you can get an idea of who will be there and why they’re drawn to that event. One of the most common entrepreneur mistakes is assuming that all investors are solely motivated by return.

4. Present a Documented Plan

Your plan may very well change, but your investors still want to know what that initial plan is, and that you have one. Offer a plan for success for your business, relying on stages to map out how your business, and in turn those investing in it, will be successful.

There are many different keys to being a successful entrepreneur. But the ability to successfully pitch is perhaps one of the most overlooked. Don’t forget that people aren’t just buying into your business. They’re buying into you as well.

How Tech Trends Will Influence Businesses After the Pandemic

Dec 30, 2020

The lockdown had a devastating impact on the economy, and especially on aspiring entrepreneurs. There has been a global disruption of the supply chain. As a result, companies are closing down their branches and sending home their staff.

Despite the bleak view, there is a silver lining, even for those planning on starting a business venture. There is a shift to online shopping, e-education, telemedicine, amongst other tech trends. In this article, we examine the latest developments and what they may portend for the digital entrepreneur.

Growth of Industrial Automation

Companies are also using automation to address staff shortages and enforce social distancing protocols. According to the IFR (International Federation of Robotics), there will be 4 million robots in industries by 2022. While automated machines were to take over the world, the pandemic has accelerated the process.

There are already companies utilizing robotics for carrying goods and for cleaning tasks. Today, a self-driving car can deliver products to customers. Robots can also do work that would require personnel to be present.

Grocery Online Deliveries

One of the digital opportunities for aspiring tech enterprises is online grocery delivery. In ordinary situations, most people would occasionally shop for groceries online. However, the social distancing rules of the pandemic have changed customer’s perception sharply.

Some reports indicate that the demand for groceries online has doubled. Large companies like Walmart and Amazon are using autonomous systems. Not only does automation ensure contact-less deliveries, but it also cuts costs and boosts the bottom line.

The Rise of 5G

Despite the skepticism, we can expect 5G to roll out in the next few years in many parts of the globe. There are already more than 30 countries planning that have launched 5G services.

What is the big deal about 5G? The technology allows for faster and more reliable networks. The stability of the connection can allow multiple devices to work in real-time. 5G can, therefore, provide the data to manage deliveries and robots in the industrial plant. At a time when organizations are looking for automated solutions, the technology may prove to be indispensable.

Increase in Green Investments

There are also opportunities if you’ve been thinking of starting a business in the green industry. The sector will receive more than $45 billion as capital for sustainable enterprises from ESG investing. Even though the firm has had similar programs in the past, there is a shift towards far-reaching solutions.

In the past, the focus of sustainable business models was mainly on energy. But ESG is looking to encourage the utilization of IoT, AI, and big data. The plan is to integrate climate concerns into other industries such as manufacturing, eCommerce, and agriculture.

Technologies such as machine learning, 5G, IoT have been touted as the innovations that will drive define our future. Luckily, the rate of adoption of these technologies has been rising since lockdowns began. The best tech entrepreneur advice from experts such as Rafferty Pendery is to move fast and make the most of the digital opportunities. They can be especially useful for young entrepreneurs who are considering starting a business, especially in tech entrepreneurship.

3 Tips On Creating a Brand Online as a Tech Entrepreneur

Dec 30, 2020

Did you know that there are 582 million entrepreneurs across the globe? While this means that those of you who are interested in becoming entrepreneurs have a lot of people to lean on and relate to, it also means that there is a good deal of competition to worry about. It can be difficult to stand out as someone starting a new business in this day and age, especially if that business relates to the tech industry in some way. Tech entrepreneurs have a lot of opportunities that they can take advantage of, but they need to present unique opportunities to potential business partners, employees, and investors in order to be successful.

Part of the issue for tech entrepreneurs is standing out in the sea of other entrepreneurs. In this day and age, much of the conversation regarding tech is, predictably, taking place online. That is why we’re looking into some of the ways that the digital entrepreneur can make themselves stand out on the internet. Yes, there are millions of people vying for the attention of a comparatively small consumer base. But with the right tactics, your business could be the one that becomes most prominent.

1. Start a Blog

Perhaps one of the best way ways for a tech entrepreneur to stand out online is for them to start a tech entrepreneurship blog. This kind of blog can be started at any point in the entrepreneur’s career. You could begin blogging when you first start to conceptualize your business, chronicling your adventures in the early days of becoming an entrepreneur and following its ebbs and flows in a very personal way. Conversely, you could create a very glossy and attractive story for your business through your blog, using it more purely as a kind of branding tool.

Either way, tech entrepreneurship blogs are remarkably flexible and appealing marketing outlets. Not only can they be utilized for SEO purposes, making your business easier to find for consumers; they can also play a part in creating your brand’s story. What is important is that the blog offers entrepreneurs a way to make themselves and their ideas easily available to the public at large.

2. Engage with Social Media

There is a wealth of social media platforms available in this day and age, and one of the best tips for entrepreneurs in general, not just tech entrepreneurs, is to take advantage of them. No matter what area of the tech industry you wish to specialize in, there is a social media platform that will somehow correspond to it. Facebook is often used by families, while Twitter appeals more to a younger and more individualized audience. Instagram is full of influencers and is ideal for more visual businesses.

Similarly to tech entrepreneurship blogs, social media allows a lot of opportunities for branding and creating a voice. It also allows clients and consumers, in general, to feel as if they can easily voice questions and concerns. In a sense, a social media account allows consumers more direct access to businesses and ultimately creates a more personalized experience.

3. Create an Attractive Website

What makes one website appealing where others may not be? This can be a difficult question for entrepreneurs to answer, which is why working with a digital marketing agency can be so helpful for many of them. While a tech entrepreneurship blog can be an aspect of a polished website, it’s only a single part. Websites must also be both attractive and easy to navigate.

There are plenty of other websites that can offer the same resources as yours, no matter how unique the information you focus on seems to be. Therefore, it’s important that your website is not only visually appealing but streamlined and efficient. The only way this can be done is through the utilization of professional web designers and marketers.

While it can be difficult for tech entrepreneurs to stand out in the crowd, it’s not impossible. With the right approach, a tech entrepreneur can build their brand online even before their business launches.

4 Common Pitfalls That You Should Look Out For as a Tech Entrepreneur

Dec 29, 2020

Every year, more entrepreneurs move into the tech space, hoping to build the next big ‘thing.’ The Kauffman Foundation points out that the U.S. averages 20 companies founded per year that reach 100 million in revenue. Sadly, the tech start-up industry also has the highest failure rate at 63%.

The rapidly-shifting digital market space makes it hard for a tech entrepreneur to navigate. Start-up founders often fall for common entrepreneur mistakes that ruin the business. Here is a detailed look into four pitfalls that you may need to be wary of:

1. Scaling Pre-maturely

Potential tech entrepreneurs can, at times, get swept up in the excitement of their product or service. The founders lose sight of the bigger picture. If you find yourself spending too much cash than the essentials of your growing enterprise, you may hit some hard bumps down the road. Take time to think through each approach and validate consumer behavior towards your product or service. Success isn’t achieved overnight but through deliberate, well-planned strategies. However, you may need to be careful about taking too long to launch the ‘perfect’ product.

2. Going All Alone

It’s easy for a tech entrepreneur to hoard their business idea, often failing to ask for help. With the cut-throat competition within the tech-space, start-up founders create an unhealthy attachment to their idea. They become too rigid; wanting to prove to the world they can figure out everything on their own. Find a mentor or coach that can help you avoid costly entrepreneur mistakes. Admit that you don’t have all the experience and bring in a tech entrepreneur partner. Finding a business partner that can warn you of red flags in the business model is vital for your start-up’s success.

3. Hiring the Wrong Talent

As many as 69% of U.S. entrepreneurs start their businesses at home. While you may have to be the jack-of-all-trades for a period in your start-up, it may not be sustainable in the long run. However, you may need to be careful about the staff that you bring on-board. A survey by CB Insights shows that 23% of start-ups fail due to an inadequate team. You may feel the pressure to hire aggressively to build a team that accelerates your product launch. However, the mad rush may lead to choosing employees that do not fit the company’s culture or have the wrong skill-set. Take time to get the right talent to support your business goals and vision.

4. High Cash Burns

The Small Business Administration points out that 22.5% of all start-ups fail during their first year of operation. Eighty-two percent of these are due to poor cash flow management. Without the right business plan in place, a tech entrepreneur may struggle to bring their products to market. It may be hard to get your tech idea funded. It is even harder to channel the money to a concept that works. Align the spending of your start-up to key strategic goals to control costs during your formative years.

Bottom-Line

As a tech entrepreneur, you may need to be wary of these four common pitfalls that ruin businesses. Raffy Pendery, a successful tech entrepreneur, VC, and public speaker, is willing to hold you by the hand as you take on the entrepreneurship journey. Follow this blog for more entrepreneur tips for business success.

How to Become a Successful Tech Entrepreneur

Dec 8, 2020

It can be remarkably difficult to break into the tech industry. For one thing, you’re probably not the only person who’s considered becoming a tech entrepreneur. There is a good deal of competition in the industry at this time, and it can move forward at a rate that is difficult to keep up with. However, there are a lot of reasons why you shouldn’t give up on your ambitions before giving them a good attempt.

If you succeed within the tech industry, there can be remarkable financial rewards. There is a growing need for tech solutions, and original entrepreneurs can potentially succeed greatly within the tech space. The most important thing tech entrepreneurs should consider is being as prepared as possible, and taking advantage of tech entrepreneur resources when they can. Below are some of the things that those wishing to start a small business in the industry should do, and some of the things that they should avoid.

Do: Take Public Speaking Courses

There are a lot of reasons why you should take public speaking courses as a growing tech entrepreneur. Great public speaking skills are surprisingly useful tech entrepreneur resources. No, your business doesn’t necessarily involve public speaking directly. But pitching your business probably will.

When pitching as a tech entrepreneur, you need to be able to sum up the point and value of your business to investors in a short period of time. This could involve summing up a lot of complex ideas and synthesizing them into understandable terms. Even if you feel comfortable speaking in front of people, you should still take public speaking classes in order to hone your skills, build up your persuasive speaking style, and ensure that public speaking is an essential part of your arsenal as an entrepreneur. A lot of the people who may invest in tech companies aren’t necessarily that interesting in technology; they just want to know that they’re making smart investments. Who knows? One day you may very well be introducing a service or product to a busy expo. You can’t do that effectively, and get the full benefits of your presentation, without strong public speaking skills.

Don’t: Go Into Business With Friends And Family

One of the greatest tech entrepreneur resources is a great business partner. A business partner can act in multiple different ways. They can provide creative and financial support, and offer limited or heavy involvement. However, when choosing a tech entrepreneur partner, you shouldn’t go into business with family or friends.

Keep in mind that about 22.5% of all small businesses collapse within their first year. While you can move on from a failed business and start something new, it’s much more difficult to move on when both you and something that you personally care about have lost money or time to the business’s failure. Bitter feelings can arise from business difficulties arising between partners that are personally linked. Furthermore, if the two of you develop issues in your personal relationship, those issues can leak into your business partnership. Although friends and family can be great business partners, think carefully before moving forward with this kind of partnership, and be prepared before committing to this kind of career move.

Do: Start a Tech Blog

There are a lot of reasons why you should start a tech blog related to your business. You can provide your own tech entrepreneur resources to other aspiring businesspeople, while at the same time boosting your brand recognition and creating a personal face for your business.

Tech entrepreneur blogs are also excellent for SEO purposes. By creating this organic material through which you can advertise your business, you’re bypassing more obvious ads that many consumers are tired of.

Don’t: Forget Your Goals

Being an entrepreneur is difficult. You’ll probably stumble at points, and it can be easy to take setbacks too seriously and let them stop you from pursuing your goals. Keep your purpose and dreams in mind as you make business decisions, and trust your gut.

There are a lot of difficulties that you will run into as a tech entrepreneur. But if you prepare before starting your business, dedicate yourself to your work, and commit yourself to success, you may be surprised by how far you can go.

7 Steps to Starting Your Women-Owned Tech Business

Dec 3, 2020

There are a lot of opportunities for women who want to succeed in business today — perhaps more than there ever have been before. Right now, data from Kauffman reveals that 40% of all new entrepreneurs in the United States are currently women. The number of women-owned businesses is also growing at double the rate of male-owned businesses. While this is encouraging, finding out how to start a business is still daunting for many women. It’s easy to get discouraged when you’re planning your future as an entrepreneur, particularly if there aren’t as many mentors or leaders to emulate in your field.

Fortunately, there are resources available, especially if you want to become a tech entrepreneur. Technology, as an industry, is growing incredibly quickly. There are plenty of areas in which female tech entrepreneurs can grow their businesses. But because the industry is moving forward quickly, time is of the essence. With that being said, let’s explore some tips for women entrepreneurs looking into how to start a business.

1. Research Your Market

Who will you be competing with? If you’re launching a product or service, is it a totally unique idea or is it something that already exists? If you are launching a product, is it already on the market and has it been patented? These are the types of questions that you need to ask as you begin researching how to start a business. You need to do market research in order to know whether or not your concept is viable, and if it is, who will make up your target audience.

2. Make a Business Plan

It’s crucial for you to have a business plan. There are a lot of tech entrepreneur resources available to help you craft a plan after you’ve done your market research. They can help you map out how to begin and grow your business. You should have certain benchmarks in mind, as well as an end goal. Some entrepreneurs wish to run their companies for the long term, while others prefer to simply make as much money as they can by licensing or selling their businesses down the road. But your business plan is key to convincing investors that you are a good “risk” to take.

3. Source Your Funding

One of the most intimidating things to consider when exploring how to start a business is finding funding. Very few tech entrepreneurs are entirely self-funding. You may want to consider a tech entrepreneur partner, who can help you grow your business on several different levels apart from financing. You may also want to begin pitching your business model to investors, who can provide you with the money that you need in exchange for equity, royalties, or other benefits. Loans are also potential resources that should be considered strongly. Make sure that you’re ready to commit to the financial task of starting a business.

4. Choose a Location, Structure, and Name

This is really a part of starting your business’s brand. It may take you a while to stop operating out of your home and move into a store, but do you really want a store? Some businesses operate entirely online, while a brick-and-mortar approach is better for others. Consider the legal structure of your business, as this will affect what you pay in taxes and your potential liabilities. Don’t be casual about choosing a name, either. It can greatly affect your long term success.

5. Register Your Business

Registering your business really makes it official and protects your brand from the start. Keep in mind that those doing business under a name different from their own need to register their businesses with the federal government, and quite often with state governments, as well.

6. Acquire Federal and State Tax IDs

You’ll need an employer identification number in order to open a bank account and begin paying taxes. Some states will also require you to get a tax ID number for your business, as well. It’s a good idea to meet with an accountant to ensure you’re all set in this regard and that you’re operating your business legally.

7. Submit Applications For Licenses and Permits

The types of licenses and permits you’ll need will depend on the kind of tech that you’re dealing with. However, these are crucial to ensuring that your business is being operated properly.

After these steps are managed, you can open a bank account for your business. By following this process, you’ll give your business the best chances for success!

5 Qualities That Distinguish a High-Paid International Speaker

Nov 30, 2020

Do you dream of turning your entrepreneurship knowledge and insight into a paid speaking engagement? Successful paid international speakers such as Raffy Pendery continue to break new grounds globally by fine-tuning their public speaking skills. They can deliver thought-provoking and emotional speeches that leave a memorable impact on their audiences.

Rafferty Pendery continues to do just that. He has gone from starting his first business venture at 11 to becoming a well-known international keynote speaker. While it is vital to have soft skills to become a public speaker, you may need more than just eloquence to make you successful.

Here are five essential traits of a paid international speaker.

1. Excellent Story-Teller

Every international speaker should be able to tell a story that the audience can resonate with. They can paint a picture through storytelling while teaching vital lessons through their speech. A storyline helps to break your major points into step-by-step instructions for the audience. The listeners can relate to the international speaker’s life through the various mysteries, plot twists, and revelations in the narrative. In the end, you can string all points together to pass a vital message that remains memorable for the audience.

2. Great Audience Awareness

Public speakers need to demonstrate their skills by engaging their audience. Illustrations, case studies, and dialogue can help kill boredom during the presentation. Be creative in coming up with an interactive discussion that makes it fun, both for you and the audience. You can opt to ask questions, story-tell, or engage in body relaxing activities. Additionally, a quick study of the audience can guide you on the topics that would excite them. It means that you may have to be dynamic when coming up with ideas to speak of.

3. Confident

Confidence is an invaluable skill for any paid international speaker. The audience needs to remain enthralled with the message that you are trying to pass. An audience can tell when you are anxious, which may impact the delivery of your speech. Confidence gives you the courage to speak eloquently in public, exuding influence and authority through the message you convey. It also allows the audience to trust the message you are trying to pass.

4. Passionate

As a tech entrepreneur cum international speaker, you must have a passion for whatever you do. Being passionate allows you to remain enthusiastic as you present your ideas. The emotion may rub off on your audience, allowing them to resonate while the message you convey. A passionate speaker can inspire and attract a diverse audience and change them for the better.

5. Knowledgeable

Your audience will expect that you will deliver unique messages and ideas. They yearn for a fresh perspective that will propel them to a better self. You may need to settle for an area of expertise that you can comfortably speak on. Raffy Pendery offers tips for entrepreneurs through his speeches, blog, and other resources. An easy way to hack it is by staying true to yourself and your beliefs.

As a top paid international speaker, Raffy believes anyone can learn and hone their skills to become better at public speaking. While these are only five examples, many vital traits define successful international speakers. For more information on how to make your speeches relatable, motivating, and inspiring, reach out to Rafferty Pendery here.

7 Qualities to Look for in a Business Partner

Nov 10, 2020

Successful entrepreneurs like Raffy Pendery have broken new grounds in business through value-added partnerships. Having a partner can boost your business prospects, but it could also lead to chronic problems and endless disputes. In this article, we look at some of the essential qualities to look for.

1. Unique Entrepreneurial Skills

When you are starting a business, you may lack some of the essential skills that could make the venture successful. One of the main objectives of finding a business partner is to fill the skills gap by hiring someone with unique abilities.

One of the common entrepreneur mistakes is to settle for someone who has the same exact skills as you. For the partnership to be successful, it must complement both parties. By combining your unique skills, you can overcome many of the initial challenges that may come your way.

2. Passion and Motivation

Entrepreneurs like Raffy Pendery are passionate about what they do. So, it makes sense to find someone who has the same level of passion. You don’t want to work with a partner who you will have to push to fulfill their end of the bargain. They should also be self-driven and motivated to push the business forward at all times.

3. Compatibility

Even though both of you may have a unique skill set, there needs to be a sense of genuine respect between you. That means that you value your partner’s contribution, skills, and concerns, and vice versa.

When there is a strong partnership built on respect, the company can blow through the obstacles. And when you attain success, you’ll be there to celebrate each other’s accomplishments.

4. Capability to Network

When unveiling a new product or service, businessmen like Raffy Pendery tap into their networking circles for leads. When you are in the process of finding a business partner, you may want to consider someone with valuable contacts. A well-connected entrepreneur can help take your business beyond its current market boundaries. Their networks can also help with financing or other aspects of the business that you are not yet aware you need.

5. Communication Skills

Effective communication is an essential part of running the day-to-day operations of any business. Some decisions can be controversial, so it is important to communicate not to be misunderstood than to be understood. You can’t have a situation where the right hand does not know what the left one is doing.

6. Creative and Open-Minded

Whether you are a marketer or tech entrepreneur, your company will have to incorporate new ideas to be successful. An ideal partner should contribute business ideas and help you resolve conflict. They also need to be open-minded so that it is easy to share and discuss new groundbreaking strategies. That way, you are not constrained to doing business the way it has always been done, as this can stifle growth.

7. Professionalism and Ethics

If you are interviewing individuals to partner in your business, you’ll need to evaluate their sense of professionalism and ethics. You should share the same standards on business practices, compliance, and respect for clients. If there your ethical standards mismatch, that could be a source of endless conflicts that could lead to business failure.

Get the Right Partner

There are many good reasons to find a business partner. However, if you’re not careful, you could make mistakes that could cost you your venture. Entrepreneurs like Raffy Pendery encourage startups to find mentors to guide them at different building stages. There are always great insights you can tap from experienced entrepreneurs.

Entrepreneur Tips: 5 Public Speaking Mistakes to Avoid

Nov 7, 2020

Do you dream of giving a memorable speech that wows audiences? There are many ways your business can benefit from an engaging presentation. Here are some top entrepreneur tips on things to avoid when giving a speech.

1. Writing a Vague Speech

It is possible for public speakers to feel that they have a firm grasp of the topic they are about to share. But when they get to the podium, they fumble as they try to explain their ideas with clarity.

So, your talk needs to be coherent to sustain interest in the subject you’ll be discussing. One of the top entrepreneur tips for public speaking is to write down the idea in one sentence. If you cannot reduce the topic down to a sentence or two, the chances are that your speech will be vague.

2. Not Using Real-Life Examples

As an expert in your field, you may assume that the audience can consume the theoretical work you present. However, the concept could be too hard for your audience to follow.

Regardless of the technicalities of the subject, you can always boost the impact of the speech with stories. You can go through case studies and research reports to find real-life experiences for your talk. You can split the supporting material into personal anecdotes, statistics, and stories.

3. Having a Predictable Start

The start of your talk has the potential to make or break the rest of the speech. So when you begin with a predictable statement, you risk losing your audience.

If you’re a businessman, you can open the talk by posing a question. Or you may tell a personal story that is relatable before sharing a list of entrepreneur tips with your audience. Whatever you do, always ensure that you captivate the audience from the very beginning. It is very hard to get them back once you have lost them at the start.

4. Not Engaging the Audience

The best-paid international speakers try to avoid coming out as preachy. They say that people tend to recall the emotions you invoked through your speech rather than the details. Avoid talking to your audience in a way that will make them feel like you’re telling them off.

One of the top entrepreneur tips for making your speech more engaging is to involve the audience. You may plan some fun activities for the presentation to demonstrate an idea or show the practicality of a product. You may also interest your listeners with a video presentation. After that, you can request comments before giving your views. Above ensure that you make your presentation in one way or another. That way, the audience will remember it in the long run.

5. Not Rehearsing Adequately

The finest public speakers are always working on perfecting different aspects of their craft. They understand the implications of body language, posture, and voice projection, among other factors.

Practice makes perfect. It is not wise to stop practicing when you feel you’ve gotten better. Rehearsing the speech should be a continuing part of the process of improving your public speaking skills.

Perfect Your Public Speaking Skills

There is a lot of information on public speaking you can get from a wide range of sources. Remember to focus on proven techniques and strategies to address the weaknesses in your speech delivery. You should consider hiring a coach to guide you with tested tips and tricks for entrepreneurs.

Should BFFs Become Business Partners? What New Entrepreneurs Should Consider

Nov 5, 2020

On our entrepreneurship blog, we previously shared some tips for picking the right business partner. But one of the most obvious options when finding a business partner is to look to your existing friends. After all, your best friend may know you better than anyone and share your passions, making them a natural fit for your business. But while this may seem like a great idea in the beginning, it can turn out to be one of the biggest entrepreneur mistakes you’ll make.

Ultimately, the choice of whether to go into business with a close friend is up to you — and whether or not it will succeed depends on a number of factors. But if you’re wondering how to start a business with your BFF, here are a few considerations to keep in mind before you forge ahead.

You Can Build a Business Based on Trust and Common Interests

If you attempt to find a business partner out of the blue, it can be tough to figure out who you can trust. If you entrust the wrong person, you could end up getting burned. While that still may be true for friends who go into business together, your existing relationship can mean that you don’t have to waste time getting to know each other and your respective business styles. What’s more, you’ll probably have a better idea of what your friend is passionate about and will know whether emotional buy-in already exists. Not only will your friend want your business to succeed for their sake, but they’ll also be invested to ensure you succeed.

Your Friend Can Provide Balance and Create a More Complete Partnership

One of the most important tips for entrepreneurs is that you should pick a business partner who can offer what you can’t. If you decide to go into business with a friend, you’re probably already very familiar with their main strengths and weaknesses. If you know that they excel in places you lack, this can actually be of huge benefit to your venture. As part of your partnership, the two of you will provide a sense of balance to each other and bring out the best in each other. That’s assuming, however, that this is the dynamic of your friendship. If you frequently find yourself in a spat with your friend or you’re too much alike, this may not bode well for your business. If you team up with a friend, make sure that their temperament and business style complements yours and makes up for what you may not have.

Business Partnerships Based on Friendship Have Higher Stakes

Although 80% of small businesses started n 2014 made it to their second year, there’s no guarantee that your business will survive. And if your business fails, it’s also possible that your friendship could end as a result. Working together can bring out other sides of each person; if you don’t have a solid plan in place to ensure communications are productive, it’s possible that working together could damage your friendship. If you do decide to go ahead and go into business together, make sure you’re both on the same page about the state of your friendship and come to an agreement to keep work and personal lives separate.

As our entrepreneurship blog shows, going into business isn’t an easy task. And while starting a venture with your friend can be an excellent idea, it’s one that should be carefully considered first. For more tips and tricks for startups and visionaries, check out our entrepreneurship blog.

How to Find the Best Business Partner

Oct 6, 2020

Did you know that nearly 15 million Americans are self-employed on a full-time basis? The pandemic has set the stage for even more people to become entrepreneurs as businesses close and many in-person jobs are eliminated. The digital entrepreneur is more important than ever, so now could be the time to make your next career move.

But if you don’t want to go it alone or don’t know how to start a business, one of your first steps should be finding a business partner. Here’s how to find the right one.

Consider Current or Former Coworkers

One of the best ways for the digital entrepreneur to find a business partner is to consider current or former coworkers for the job. You already know your coworkers’ work ethics because you have worked with them before. Choose the coworker who you worked well with in the past and who takes an interest in your business.

Ask a Friend

While some people may advise against it, asking a friend to be a tech entrepreneur partner can come with several benefits. You’re probably friends in the first place because you have similar interests, get along, and trust each other. Starting a business together could be a good fit. However, if the business fails, the friendship may not survive unless you have clear boundaries and strong communication from the get-go.

Go with Family

Going with a family member as a business partner might also seem like a recipe for disaster. However, many successful entrepreneurs are related. That could be because family is more likely to have similar mindsets, values, and work ethics. Communication can sometimes be easier between family members. You’ll be less likely to have a falling out if the business doesn’t succeed, as your bond will be too strong to break.

Network

For the digital entrepreneur, networking is probably a no-brainer. Online networking communities are taking the place of in-person networking opportunities nowadays, but they also have the added benefit of reaching more people. That means you’ll have more options and you can find an online networking group for almost any job.

Go to a Business Class or Training

A great way to find a business partner (when you may not even be looking for one) is in a business class or training. A new tech entrepreneur can benefit from a class by learning more about their field and by meeting other people who also have the drive to learn more. You and another student may find that you work well together and have the same ideas — a perfect recipe for a strong partnership.

Find Someone Trustworthy

No matter where you meet your next business partner, you will want to make sure that person is trustworthy. Don’t be afraid to ask for references if you’ve just met a potential partner. You should offer up references for yourself, as trust is a two-way street. It’s also a good idea to take some time to get to know someone before you dive in.

Find Someone Eager

Whether your partner is your sibling, coworker, or someone you’ve just met, they should be eager and excited to start a business with you. If they go into this new venture halfheartedly, they may not be in it for the long haul. You want someone who’s passionate about what they do and someone who wants to succeed.

Find Someone Who Complements You

You don’t need to find a business partner who is completely like-minded. In fact, someone who complements you can make the best partner. You may possess one skill set and your partner will have another. Maybe you have a knack for finances and your partner is more capable of designing a website. You will both bring valuable skills to the table, which can create equality and a nice balance.

The digital entrepreneur may need a little help in the beginning. You may want someone to bounce ideas off of, someone to make up for what you lack, or someone who’s just as willing to put themselves out there. That’s why you should take your time to find the right business partner. Look for one in the obvious places, but don’t be afraid to try unconventional outlets, as well. The main thing is to find someone you’re comfortable with and who you can see yourself building a business with.