6 Essential Time Savers for Overworked Young Entrepreneurs

You know the saying, can’t see the forest for the trees? Well, entrepreneurship can turn you into a treehugger very quickly. The trouble is, the forest (a.k.a. the big picture) can often fade to the background.

This is a mistake. By allowing less-important activities — like checking emails and responding to customer queries — to crowd out your larger organizational and business goals, your startup can lose its way. And not only will you feel like you’re constantly chasing your goals, you’ll also be running woefully behind.

Here are six simple approaches that can make a real difference in how much you get done every day:

1. Plan, then attack. 
When you have so much to do, planning may feel like a waste of time. How can you sit at your desk quietly with an empty piece of paper in front of you when you’re behind on everything? In reality, taking ten to fifteen minutes to plan every morning will save you much more time than you waste. If it’s easier, make a plan for the next day before you stop working the day before. Either way, that list of things to accomplish should be thought out, prioritized and in front of your face each day.

2. Bundle responsibilities. 
If you can accomplish two things at once, do it. For example, plan the order for any errands to determine the shortest route. Save up all of your financial requirements and go to the bank once a week rather than two or three times. Keep an ongoing list of office supplies and stop at the store when you’re nearby.

3. Use delivery services.

5 Critical Skills for Entrepreneurs

These are 5 essential skills that every entrepreneur needs in order to be successful and effective. The world’s best CEOs are masters at these skills. You should aim to master these skills also.

1. Sales

When you are first starting out on your own, being able to sell will be the single most important skill that can determine whether your business will succeed.

You will need to sell to consumers on the internet, to businesses on the phone, to corporations in person — you are always selling, selling, selling. When you are networking, you are not just making contacts — you are selling yourself. When you are presenting your idea to venture capitalists, you are not only selling your concept. You are also selling yourself. The venture capitalists will be thinking to themselves:

Can this person deliver?

Can this person execute?

Is this person passionate?

Does she have what it takes to make this thing succeed?

Rarely does an idea by itself get funded. A great sales person can make even a terrible business idea get funded if it’s pitched right. A brilliant idea that’s terribly presented will not typically be considered.

So it goes for any product or service you may have to offer. As an entrepreneur, you wear many hats. You are CEO of sales, advertising, administration, website, recruiting, customer service. The single most important hat that you will wear is sales. This will determine whether you will bring in revenue.

The art of selling is not to hit people over the head and get them to buy from you. It is not about being pushy. It is much more subtle. It is about asking the right questions. Communicating your viewpoint persuasively. Listening. It seems counterintuitive but some of the best sales people are the best listeners.

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Tips for Aspiring Entrepreneurs

Almost everyone dreams of running up his own business and becoming successful in it. And who would not love the idea of becoming a boss, managing his own time, and reaping the fruits of his own labor.

But that’s not how easy it is.

It may take time and a lot of hard work to be able to taste your first harvest. The success of an entrepreneur depends on several factors and it is important that you have the right foundation before you even start out with a business. Hence, you have to know and imbibe yourself with the traits of success to prepare yourself for the struggle.

Here are some of the best things that small business beginners should do:

The right mindset

In business, having the right mindset is essential. It is the combination of patience, determination, tenacity, and winning attitude. First, you have to know what your business is and which direction it is heading. It may be a good idea to have a big, noble purpose but you can have a small, achievable goal for a start.

Realistic budget and financial plan

To succeed in a small business, you have to have a good financial plan which includes a well-managed budget, sales projections, as well as marketing strategy.  This also involves the proper use of money and resources and understanding the market.

Good network

Establishing good relationship with people and other industry players can help a business develop its network. This is helpful especially for startup businesses as the advice of other entrepreneurs can provide valuable insight into the business and also introduce you to potential market and clients.

Strong brand and legal name

7 must-know tips from successful entrepreneurs

What can you do to make your small business one of the thrivers? To find out, we asked entrepreneurs who have succeeded.

1. Love what you do.

The road to success is a hard one. But, according to Lisa King, owner of Brownie Points Inc., which sells gourmet brownies and holiday gift baskets, it's a lot easier if you're passionate about your business's purpose. "If you don't [love what you do], it's hard to be successful," she says. She adds that this helps you stay positive: "You need to maintain your optimism. Once it's gone, you're done."

2. Build a team immersed in your vision.

"For me, it's more than just hiring experienced people. It's important to demonstrate the type of organization we want to be," says Mike Mondello, president of SeaBear, which supplies fresh and smoked wild salmon directly to consumers. To bring to life the vision of building a seafood brand based on world-class, sustainable wild salmon, Mondello used a team meeting to showcase a fisherman whose way of catching fish resulted in a better end product.

3. Come up with innovative ways to solve problems.

Necessity really is the mother of invention. Just ask Robin Brocklesby of Creative Coverings, which rents specialty linens for formal events. When customers were having difficulty returning the linens they had rented, Brocklesby turned to UPS for a creative solution. The result was out-of-the box innovation: Return the linens in specially designed bags (with an estimated life span of 300 uses) rather than larger boxes.

4. Create a delightful customer experience.

How to avoid potential problems with venture capital funding

Venture capital funds don’t expect startups to be well-oiled machines. In fact, they go into potential deals knowing there will be problems. These issues range from disgruntled founders to disputes over who owns a company’s intellectual property. Acquirers are prepared for these issues and M&A and venture capital professionals will not be surprised to uncover some of these issues during the diligence process. However, when preparing for equity financing it is important that your company does not have the kinds of problems that may be so fatal that it kills your deal.

Establishing and maintaining good corporate hygiene will pay dividends as you negotiate your venture financing. By preparing in advance, you can minimize some of the pain and effort in the diligence process and focus instead on negotiating the best deal for your company.

Here are some tips on how you can properly prepare for your equity financing.

1. Create and maintain a reliable capitalization table. Your company’s capitalization table is the first item any potential investor or acquirer will ask to see when considering an investment, acquisition, merger or strategic transaction. Your capitalization table should include who you have sold stock to, for what price and in what quantities, whether those shares have certain voting rights and other related information. When you pitch to a VC firm and they are interested in your idea you don’t want to make them wait an additional week as you scramble to contact your investors to see who owns what and to create your stock table. Your ability to quickly furnish a clean and accurate cap table will impress investors and give the impression that you are organized and in command of your business. As your company grows, your capitalization table will be your first point of reference for handling stock options and tracking compliance with regulatory requirements. Outside counsel or an accountant should prepare and maintain your cap table.

2. Protect your intellectual property.

What starts as a job for yourself can turn into a business you can bank on for your future.

When you think about starting your own small business, what kind of business do you have in mind?

I don't just mean what industry or sector you plan to go into — such as retail, hospitality or automotive — I want to know the size of your vision.


Do you see yourself growing an enterprise with dozens of employees or becoming a successful independent consultant? In other words, are you building a business or creating a job?

Picture three would-be entrepreneurs, each attending a workshop on starting their own businesses.

The first would-be business owner thinks: "I've been laid off from my job and can't find another one. But I need to make a living. I'm good at what I do, willing to work hard. I'll go to work for myself."

The second one thinks: "I'm about to retire, but I'm not ready to play golf all day. I'm an avid photographer. I could charge some friends and acquaintances for taking photos at their weddings and events."

The third one envisions something entirely different: She's been working on a new invention. She thinks to herself, "If I can get the money, I know I can build a business that will make millions of dollars."

Each of these entrepreneurs might say the same thing: "I want to start my own business."

But they mean very different things. The first one wants to create a job, the second to make a bit of extra money, and the third wants to launch a company they could perhaps sell one day.

When I started my first small business, I fell into the first category.

I was looking for a way to be my own boss, to make enough income to support myself. But I sure didn't want to have employees. For more than a decade, I was a self-employed consultant, a sole proprietor.

But eventually,

Fund Raising Tips from The Youngest Person To Raise Venture Capital

Brian Wong is the CEO of Kiip (pronounced “keep”), a category-creating mobile rewards network that is redefining mobile advertising through an innovative platform that leverages “moments of achievement” in games and apps to simultaneously benefit users, developers and advertisers. Backed by Hummer Winblad, Relay Ventures, True Ventures, Verizon Ventures, and others, the company has raised $15.4 million in funding to date. Kiip has been listed by Forbes as one of the 4 Hot Online Ad Companies to Put on Your Watch List, and been named to the Dow Jones FasTech50 List.

Called the youngest person to ever receive venture capital funding by TechCrunch and the Wall Street Journal, Brian received his Bachelors of Commerce degree from the University of British Columbia at age 18, after skipping four K-12 grades. He has been recognized with many awards for his accomplishments and leadership, including: Forbes’ 30 under 30; the Top 20 Under 20 awards for all of Canada; Business Insider’s Top 25 Under 25 in Silicon Valley and 18 Most Important People in Mobile Advertising; Mashable’s Top 5 Entrepreneurs to Watch; and the AdAge Creativity Top 50.
Before starting Kiip, Brian led key publisher and tech partnerships at the social news website Digg.com, where he accelerated the company’s mobile presence by launching the Digg Android mobile app.

Q: You have quite the extensive list of achievements. Not only have you raised $15.4M for your startup Kiip, but you’re also one of the youngest entrepreneurs to receive venture capital. What traits make you different then most people your age?

I think to understand what led to everything I’d have to look back on my upbringing. My childhood was full of sports (I know, surprising – but trust me I used to be super buff), speech arts & drama, FPS gaming (PC), and incessant amounts of graphic design. I also studied marketing & consumer behavior in university. It’s no accident that these things combined led to some level of contribution to my ability to succeed with Kiip. 

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