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5 THINGS BLACK ENTREPRENEURS GET WRONG ABOUT GROWTH MARKETING

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If you hope to avoid the fate of failed entrepreneurs who have gone before you, it’s time you heard a few hard truths about startup marketing. While thousands of entrepreneurs around the globe are using the same fruitless marketing methods, street-smart entrepreneurs are pursuing lucrative customer-acquisition methods the wannabes fear to try. You can get a growth hacker to tell you that you ought to be on Snapchat, Instagram, Twitter, Reddit, and Hacker News, but they won’t tell you the actual cost of all your wasted outreach efforts. If you want to know what it takes to build a company that survives (and maybe even flourishes), you need to wake up to the realities of growth marketing. Buckle up, baby; you’re in for a bumpy ride.

1. STARTUP MARKETING ISN’T GLAMOROUS

Getting on the front page of YCombinator’s Hacker News or Reddit’s r/startups won’t add a whole lot of paying customers to your client roster. Sure, your site visit numbers will spike for a day or two, but the majority of those visitors are tire-kickers and not your target market. It would be best if you were where your customers are and feed them valuable information over an extended period. Business blogging takes time, and SEO is a long-term endeavor, but the results speak for themselves. Convincing customers of your company’s value won’t happen in a Snapchat post or a cool picture on Instagram; prepare yourself for the long haul if you hope to succeed.2.

2. NO ONE CARES ABOUT HOW MUCH MONEY YOU’VE RAISED

Customers don’t care one iota how much funding you have raised from investors. Seriously. Stop promoting your latest seed raise or flaunting your funding on TechCrunch. The only people who care about your seed/Series A funding are your investors (which gives them something to brag about on Twitter), your competitors, and your mama.

3. YOU DON’T NEED ANOTHER INTERN

If you’ve accepted investor cash and your runway is shrinking by the minute, skimping on marketing is akin to taking your startup behind the barn and shooting it while it’s still moving. That marketing intern you’re thinking of hiring isn’t invested in the success of your company. Your marketing-wannabe cousin isn’t going to send droves of paying customers your way. Without a clear understanding of your preferred customer and their online/offline hangout preferences, your marketing efforts are all likely going to be for naught. If you do only one thing to improve the viability of your startup, dive into the data on your target customer. Don’t have detailed data? Oops. It would be best if you had thought about customer analysis before you launched your startup.

4. YOU NEED MORE THAN PRESS AND MENTIONS

Read full article HERE at #Blackenterprise

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Entrepreneurship

How Entrepreneurs Are Connecting the World With IoT

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Some have dubbed the Internet of Things, or IoT, the “Intelligence of Things,” and even the “Internet of Everything.” Whatever they call it, there is no doubt that IoT has been steadily emerging and shaping our future. Put simply, IoT eliminates the need for human interaction with other humans or computers to transfer data. 

IoT already has numerous uses — smart homes, connected cars and smart retail to name a few — and it is expected to have an even larger impact on our lives in the future. Gartner reports that in the year 2017, there were more than eight billion IoT-connected devices in the world, while in 2018, that figure surpassed nine billion. It is expected that in 2020, IoT-connected devices worldwide will close to 21 billion.

Read full story @ Entrepreneuer here >>> https://www.entrepreneur.com/article/341451

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Entrepreneurship

The 6 Best Books of the Year for Entrepreneurs (They Make Great Gifts, Too)

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I read about 75 nonfiction books a year. As an author of nine of my own books, I must stay current on what the greatest minds in business are thinking. When a title really sparks my imagination, I contact the authors directly. But I only write about books that teach me something new.

Each of these books taught me something new. I’m sure they’ll inspire you, too. The hardcovers also make great gifts for the entrepreneur on your holiday list.

1. Edison by Edmund Morris

Thomas Edison didn’t just invent the light bulb. He averaged one patent for every 10 to 12 days of his adult life. Edison is the last book written by Morris, a Pulitzer Prize winning biographer who died in May. The book runs close to 800 pages (and gets very technical in places), but it’s a great read for inventors, scientists, and anyone who has a keen interest in the hard sciences and the history of inventions. 

The passages in which Morris describes what it was like to listen to recorded sound for the first time (Edison invented the phonograph) or to see a world illuminated by electric light are reminders of why entrepreneurs do what they do. Light bulbs were “globes of glass that gave off no fumes and sooted no ceilings.” When people heard the phonograph, a “miraculous machine” that recorded and played back a human voice, most couldn’t believe it. “Since the dawn of humanity … the human voice was a product of the body and therefore must die too … but here now were echoes made hard, resounding as often as anyone wanted to hear them again.”

If you choose to listen to the audio book of Edison, you know whom to thank for it.  

2. That Will Never Work by Marc Randolph

In That Will Never Work, Netflix’s co-founder tells the story of how Netflix went from concept to company–and how it nearly didn’t make it. It reads like a novel full of ups and downs, failures and successes.

One memorable story is the time Randolph and co-founder Reed Hastings (Netflix’s current CEO) pitched Blockbuster about a partnership. Netflix was making $5 million in revenue while Blockbuster was making $6 billion. Blockbuster executives laughed the founders out of the room–literally.

On the flight home, Hastings was exhausted, and the two men sat quietly. Randolph broke the silence with a line that became their rallying cry. Randolph said, “It looks like we’re going to have to kick their a**.” And so they did.

3. What You Do Is Who You Are by Ben Horowitz

Horowitz is co-founder of the legendary venture capital firm Andreessen Horowitz. The book is about how to create a business culture, one of the most important things any entrepreneur must do to sustain success. “Your culture is how your company makes decisions when you’re not there … it’s how they [your employees] behave when no one is looking.”

What You Do Is Who You Are is not just a culture book. It’s one of the most intriguing history books I’ve read in the business category. You’ll learn about slave rebellions, the samurai warriors who ruled Japan for 700 years, Genghis Khan, who built the world’s largest empire, and other stories you’re unlikely to find in a standard business book.

According to Horowitz, “Companies–just like gangs, armies, and nations–are large organizations that rise or fall because of the daily microbehaviors of the human beings that compose them.”

Read full article @ Inc here >>> https://www.inc.com/carmine-gallo/the-6-best-books-of-year-for-entrepreneurs-they-make-great-gifts-too.html

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Entrepreneurship

Shaquille O’Neal Discusses Investing, Franchising, and Donuts | WSJ

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