Dramatic Mistakes

dramatic mistake

I watched an Olivier Roland’s video  and there is good stuff.

Usually beginner entrepreneurs make 3 dramatic mistakes.

Don’t be focused on sales

sales

When we run a company, the most important thing to do is make sales. Find first customers as soon as possible to have enough sales to achieve breakeven. Breakeven is the moment where we earn enough money to pay salaries, rent, internet bills, etc. One this step is done, work hard to have profit every months. This is the first priority when we create a company, achieve breakeven as soon as possible.

A lot of entrepreneurs are focused on others things less important like choose furniture, think about website’s design, think about visit card’s design. These things are useful but they are not a priority, they are really useful when you don’t have customers, right ? At the beginning, it’s 80 % of your time to find and convince customers.

If you are too shy to speak to someone, you can use social media. Now, a lot of introverted have millions of customers with social media, it’s cool.

Not outsource accounting

accounting

Beginner entrepreneurs spend too much time to accounting thinking save money. It’s a dramatic mistake because this distraction prevent them to make sales. Accounting is complex and complicated and if you make a mistake, this can have a huge bad result with accounting, tax and legal. It’s better to have a good accountant and it’s not expensive. When we begin a company, we can negotiate. Outsource accounting is in the budget.

Not make recurring offers

recurring offer

There is a difference between smart entrepreneurs and others. Smart entrepreneurs don’t try to sell one time to a customer, they make recurring offers to develop customer’s loyalty. It’s possible to do this with physical products with a subscription or a maintenance contract for 6 months or 1 year.

Do you know others dramatic mistakes make by beginner entrepreneurs ?

-Steph

Effective Collaboration Email

collaboration

I watched an Olivier Roland’s video  and there is good stuff.

How to do to have a collaboration with anyone by email ? You know successful people receive 100 emails per days and the most look like this :

I follow your blog and I discovered a passionate person. I send you this email because I would like to collaborate with you. I think my work and your work will be great together. My wife and me work about cognitive load to optimize learning for everything like school success. If you’re interessted, I can tell you more.

Best regards

XYZ

This email isn’t horrible but it is ineffective for a simple raison. This email is too unclear. A collabaration about what ? It’s to do an article ? An interview ? It’s too create a product together ?

When we send an email for a collaboration, we need to be very specific because people don’t time, they receive a lot of email. We must be short and clear. When we’re clear, we respect people’s time. If we don’t have any idea about collaboration’s type, take time to think about it.

email

Read this :

I would like to make an interview with you for my blog because we talk about same subjects and I want to introduce you to my audience. We can use Skype for this interview and we can talk about your new book (or a product) if you want.

Here is something simple and clear. It’s important to explain what kind of collaboration is and what is the benefit for the guest. It’s important to prove this collaboration is « win-win ».

When you select the kind of collaboration, select the most simple to set up. Skype is easy to use for an interview.

It’s the same thing for people you met in event. Be short, simple and clear.

-Steph

Sacrifices To Be An Entrepreneur

sacrifice

I watched an Olivier Roland’s video  and there is good stuff.

Olivier Roland spoke with a girl who had left her job for 18 months to create her company. This girls had left her job with a negociation to have a social assistance for 2 years. The problem is that her company doesn’t work well, she doesn’t earn enougn money and her soacial assistance will finish in 4 months. They talked together to analyse the problem.

It’s not Disney’s World

disney world

This girls didn’t work effectively and quickely for several reasons. She was lazy because she thought was going to succeed. It’s a good mindset but nobody succeed at the first shot. She thought she was in Disney’s World. Create a company is just the first step. It’s like having a stick for a hike. You have this stick to start to climb the mountain but it will be another stick at the top of the mountain. And the mountain is very hard to climb. When you have a company, it is not Disney’s World, but it’s instead « it’s the war and I want to survive ! »

This girls spend to much time to have a perfect design for her blog, a perfect design for her newsletter. It was not the most important thing to do. The most important thing to do is to grow your audience. If your content is good, your design’s blog doesn’t matter. Don’t do intelligent procrastination like her.

Entrepreneur

When you’re an entrepreneur, you’re not an employee. You face reality in a way that doesn’t forgive. That means that as your company doesn’t make money, it’s just an untested hypothesis.

Have faith and be optimistic is great but you need to test your product in the market as soon as possible. And you need to have this mindset « it’s war and I want to survive ! » like a warrior, like a samourai. Be an entrepreneur doesn’t means you will be the next Facebook, Amazon or Google because you’re an entrepreneur. Results will not come naturally because you’re an entrepreneur. You must give everything you have everydays like an ahlete.

Fight for

fight

You must be ready to sacrifice your time (miss parties, birthday party, marriage, etc) and your energy to have all the chance on your side. You must do have huge motivation, by this way when you see an obstacle, you’re excited. And if you’re not excited, this obstacle will not stop you. Everydays act, act, act, act, track your act and adjust.

Have a strategy with key actions to have first sales as soon as possible. If your product don’t work, it’s not a problem. Refund customers, use audience feedback about your product and change characteristics. Try, try, try, try and must be ready to word 10 hours per day for your company.

Spend your time to act and learn. Track your actions and adjust to improve results. Devote all your time to grow your company.

Do you propose a prototype of your product/service to your audience ?

-Steph

Being Credible And Simple

credibility

I watched an Olivier Roland’s video  and there is good stuff.

How to do to use the power of simplicity to have more success ? Several studies have shown that humain being like simplicity. We like simplicity in name of things, people, products and companies. It isn’t an incredible information but there have been several studies on this subject.

Adam L. Alter and Daniel M. Oppenheimer did a great study. To validate the hypothesis that we prefer more companies with a simple name, they took 89 companies randomly in the New York Stock Exchange and they analyzed stocks performance between 1990 and 2004. Companies with a simple name consistently beat companies with a complicated name. The first year, there was a difference of $333.-.

« Predicting short-term stock fluctuations by using processing fluency »

by A. L. Alter, and D. M. Oppenheimer (2006)

They did the same study again with 170 companies et they found similar results. It’s surprising to see we are influenced by a simple name. I have a question for you, do you know a lot of successful companies with a complicated name ? It’s hard, such name like Apple, Google, Facebook, Sony, Acer are easy to remember because it’s simple names.

Simplicity = credibility

steve jobs simpicity

This means you must find a simple name for your company et also simple names for your products. Some studies have shown that two products with same features, it’s the one with a simple and friendly name that make the difference.

We, entrepreuneurs, it’s important to be simple in our communication with ours prospects, ours customers, ours suppliers et ours teams. The problem in companies world is some experts want show theirs expertises. Here a bad exemple :

« In line with our corporate values, our innovative solutions are placed in guiding our future customers. Responsiveness, professionalism and proximity are our priorities at all times ».

But what does that mean ? Who understand it ? You see, this is the type of communication to avoid. Often experts talk a jargon thinking it strengthens their credibility but the truth it’s this kind of speech discredit experts because we think they don’t know how to express the complexity of theirs ideas.

More you express simply, more you say your ideas in a simple way and more people will think you know what you talk about, more people will find you friendly. Avoid jargon, stay simple.

Look Steve Jobs business presentation. It was business presentation and everybody fought to be in the showroom. The key ? He used a simple langage. For the first iPod, he didn’t say : « there is a hard disk of 5Go ». He said : « You have 1000 songs in your pocket » and that’s what interests people. It’s a simple and clear langage that speaks directly to what interests us.

Be simple in your communication

-Steph

Being A Beginner Expert

beginner expert

I watched a Olivier Roland’s video  and I want to share this with you.

This is an interesting topic. How to sell information on internet (books or training) while being a beginner in the field ? This is cool, I’m a beginner !

It’s possible to do that by creating a website to give advice to people while being a beginner and staying ethics at one condition. This condition is to be at 2000% transparent. First, there are domain where it isn’t possible such as medicine or law. Some domain are protected, we must have the necessary diploma and that is normal. Apart from that, there are many domains where it is more free and unfortunately sometimes we see anything.

To understand the difference between an approach of beginner ethical and unethical, I will explain a real example and a fictional example.

Fictional example

fake expert austin power

This is a person who discovers that he can start a business on internet and he wants to have the blogger’s lifestyle. He decided to make a blog to explain to people how to make money on internet. The problem is that he never earn money on internet ! In his blog or in his YouTube channel, he’ll reuse information that already exists on internet but he never tested himself. He don’t use his own advise in his life. He doesn’t speak about his experience but about theories he has seen elsewhere.

Imagine that the website works. Now the only way for him to make money, is to explain to people how to make money with information based on theories. This is a big ethical problem because it makes a loop that closes on itself. It’s really not for a long term approach. It’s like having a blog about Kung Fu without winning Kung Fu competitions ?

Real example

beginner expert

Laurent Breillat of blog « apprendre la photo » ( in english: « learn the photography ») . Laurent Breillat is a photo enthusiast. At first, he went to chat with Olivier Roland because he wanted to make a blog about the photography but he knew nothing. He just had his new camera. Olivier Roland told him he could make a blog about the photography but the only condition is that he should not pretend to be the expert he is not.

Explain to your audience that you are a beginner like them and everybody will learn together to progress. This approach allows you to better help your audience because you’ll be much more connected to beginner’s problems compared to someone who has 20-30 years of experience and who doesn’t remember problems he had when he started. Laurent Breillat’s slogan for 6 years is : « Together and step by step » (sorry its slogan is protected).

You must understand that if you want to start in a field that is not protected by law, you must adopt this philosophy « Together, step by step ». Be transparent with your audience by saying that you are a beginner and build your expertise with the time.

It’s also the benefit, the approach with a blog. There are several ways to have a business on internet and with a blog, you don’t have the pressure of having to sell your first product immediately. You start slowly to build your audience, your community, your expertise and your credibility.

Create a blog takes time. It takes months, years to start making money with. But it’s cool to start as a beginner because there is a learning curve and you will develop your expertise much faster. Your brain will look for articles ideas and your community will challenge you by asking you questions or sharing problems. You’re going to structure your thoughts by creating content (articles, podcasts, videos), all that will accelerate your learning.

Laurent Breillat, today, has nothing to prove about his photography’s expertise. A publishing house contacted him to write a book because he build his credibility with his articles. All the world can see his articles. Now people invited hm in photography’s shows to make presentations and he’s paid for it.

So Laurent Breillat built his expert status with time and no one can claim that he doesn’t know of what he speaks.

This means that you can create your business on internet while being a beginner at the condition of being transparent and gradually building your skill, your audience.

How do you do to be transparent with your audience ?

-Steph

PS: Do you want a free training program ? Click here

Les Entreprises Ont Besoin D’Avoir Un Blog

company blog

J’ai vu une vidéo d’Olivier Roland  sur ce sujet et je partage ce que j’ai appris avec toi.

L’idée est que toutes les entreprises devraient publier du contenu. Toutes entreprises que ce soit le boulanger du quartier ou l’entreprise qui gère la centrale nucléaire. Tous les types d’entreprises sans exception.

Pourquoi ?

why

Publier des choses qui aident vraiment les personnes qui sont dans le même domaine que toi. Les aider à soit diminuer un problème ou les aider à atteindre leurs objectifs. C’est vrai que pour l’exemple de la centrale nucléaire c’est un défi mais cela pourrait être du contenu qui explique les avantages et la inconvénients de l’énergie nucléaire. Le principal est de donner du contenu qui va apprendre quelques chose à ton lecteur, une information qu’il peut utiliser tous les jours.

Avec l’exemple du boulanger, tu peux apprendre aux gens comment faire du pain. C’est vrai que c’est contre intuitive parce que si les gens savent comment faire du pain à la maison, ils ne vont plus aller chez le boulanger.

Mais peut-être pas ! Tu vas apprendre aux gens comment faire du pain mais ils n’auront pas le temps de faire ça tous les jours et le boulanger ne vend pas que du pain. Le fait de les avoir vraiment aider en leurs donnant de bons conseils pour une chose va augmenter ton autorité. Cela va améliorer la manière dont ils te perçoivent en tant qu’expert. Cela va augmenter ta relation avec eux et ils vont t’apprécier davantage. Le résultat est qu’ils vont venir plus souvent dans ta boulangerie et seront réceptifs aux offres que tu fais.

Etude de cas

study case

Le contenu c’est le moyen d’avoir plus de clients et d’avoir de véritables fans.

Voici un réel exemple avec le blog « Bonne gueule »  qui est un blog de mode masculine, créé par deux étudiants en 2007 (à temps partiel). Au début c’était un blog normal qui publiait du contenu et ils vendaient des produits de contenu comme des livres et des formations en ligne. Quelques années plus tard, ils ont réussi à vendre leurs propres vêtements. Aujourd’hui quand nous allons sur leur blog, c’est toujours un blog avec des articles, des vidéos de contenu qui aident les gens mais nous pouvons aussi commander leurs vêtements qu’ils ont fabriqué.

Quand nous allons sur la page du produit, nous voyons rapidement la différence entre les vêtements de chez « Bonne Gueules » et les vêtements de e-commerce classique. Il y a une vidéo qui explique pourquoi les vêtements sont fabriqué de cette façon, des conseils pour entretenir les vêtements et des conseils pour les porter avec style. Avec ce type de contenus, ils vont bien au-delà d’un magasin classique parce qu’ils donnent des vrais bons conseils pour choisir ses vêtements et bien s’habiller même si nous n’achetons pas leurs vêtements.

Maintenant « Bonne gueule » à ouvert deux boutiques : Paris et Lyon.

Le contenu fait la différence dans la perception que les gens ont de toi entre l’entreprise qui veut juste vendre le maximum de produits pour gagner de l’argent et les vrais leaders qui aident les gens à progresser.

Poses-toi la question : «  quel type de contenu peut intéresser mes prospects et mes clients et qui peut m’aider à créer une communauté ? ». Il y a un excellent livre de Seth Godin « Tribus »  qui explique pourquoi internet est un excellent outils pour créer des tribus ou des communautés. La raison est que les personnes achètent de moins en moins après avoir vu une publicité mais achètent de plus en plus après avoir eu un conseil d’une personne de confiance.

Quel types de contenu tu as pour ton entreprise ou ton idée d’entreprise ?

-Steph

Create a Company In Being Student

student business

I watched An Oliver Roland’s video  and I want to share this with you.

First, I don’t advice you to stop your studies to create your business until you are sure that your business idea is working. The idea is to do an experiment with the most low cost possible. Use the minimum of time and energy to test your idea in real conditions (sales).

The Lean Startup method

the lean startup

It’s a method that has been created in Silicon Valley by Eric Ries who wrote a book “The Lean Startup” . This method avoids common mistakes such as :

You think your idea is great, you spend a lot of time and money. You do everything for your product is perfect. After months or years of work, you discover that nobody is interested in your product, nobody wants to buy it.

The Lean Statup’s concept is to do the opposite approach. It’s to put in the market as soon as possible what is called the « minimum viable product ». This means you’re making your product/service in its most « light » aspect as possible, the most minimal to test it in real conditions in the market. What I mean is make sales with a minimum investment in money and time.

If, for example, people in your entourage often request you to do a task because they’re unable to do and you, you have do it easly. Make a test, do an ad in a newspaper or in social networks to see if people are willing to pay you to do this task.

Once you have your business idea, ask yourself : « How can I test it in the field with my first clients in the most simple way with the most savings in time, energy and money ».

It’s important to test. An example of a company that has invested a lot of money and failed. In the late 1990s, some people had a great idea in the United States. They said : « The Web is the future and in a few years people will buy many things even food ». They were so confident about this idea that they didn’t test it. They wanted, right away, be available throughout in the United States and have a very fast delivery infrastructure.

They spent billions of dollars to build special warehouses, specific trucks that allowed people to be delivered very quickly to win with the best quality service.

What happened ? The market wasn’t ready, they made a few millions turnovers. Compared to billions invested, it was very little. In less than 2 years, they have failed. This company was Webvan.

webvan

On the other side, in Great Britain, there is a company, Ocado, which had the same business model, being an online supermarket therefore deliver food purchases at the client but with a very different approach. Instead of being sure that the idea was great and put a lot of money, they began in one city with few resources. When they saw that it worked, they went to other cities. Ocado is now a company that still exists and is very profitable.

ocado

The same basic idea with 2 different approaches. That’s why it’s important to do a simple test. Asks yourself : « How can I do for my product/service is as functional as possible and provides most value to customers by an experimental version.

Create a part time business and with time, build your business gradually.

What is your business idea ?

-Steph

PS: Do you want a free training program? Click