A successful entrepreneur shares her thoughts on business success and failure.

Posts published in the Marketing category:

How to Find the Perfect New Business Idea

New business idea Starting a new business, but stuck on finding the perfect idea? I hear you. In fact, you’re not alone.

Recently, I asked people who opted-in for more information on my upcoming “Art of Email” course what they needed most in their businesses. Although many people said “Customers!”, several people asked how they would go about finding the perfect new business idea.

Let’s talk about that. I know the phase you’re in when you’re stuck on the idea. You want to start a business. It pays better (maybe!), offers more flexible time by allowing you to set your own hours, and gets you out from under the thumb of a boss. Plus, it’d be awesome to work for yourself and get people to sign up for something you’re doing for them.

The problem is making the leap from where you are now to actually having a successful business. In this post, we’ll work together on the first few steps to get you to the point of building your new business’s foundation.

First, to have a business, you need two clearly-identified items: (more…)

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The “Macklemore Effect”: How to Rocket to The Top of Any Industry–Even If You’re a Nobody Right Now

Macklemore Years ago, when I lived in Silicon Valley, there was a core group of about 50 people–the “cool kids”–who would make or break any social application that came about. Even though it often seemed, back in those days, that Twitter was down more often than it was up, the “cool kids” persisted in their use of it, and so it grew. Twitter’s founding team befriended and embraced the “cool kids” and success ensued.

Twitter was successful on a small scale until 2009, when Oprah joined it and Ashton Kutcher became the first person to get 1 million followers. The “cool kids” had started the revolution, but Oprah marked the day when Twitter became mainstream.

Over the years, the core group of “cool kids” slowly fragmented. Some of the influencers, like Robert Scoble, went on to grow huge networks of their own. (Scoble currently has 325,049 followers on Twitter and nearly half a million followers on Facebook.) Others returned to running startups, blogging, or even working a day job, much as they had done before. The “cool kids” didn’t as heavily influence Facebook’s rise to the top of social media, and they barely registered a blip as Pinterest pulled in record-breaking amounts of obsessed followers.

Many startups today try to implement that same model of getting Silicon Valley’s “digerati” to pay attention to their app/website/new social media network/whatever. The founders are convinced that if only Robert Scoble will do a video of their new company, or if TechCrunch will write an article about their latest round of funding, that they, too, will be successful. They see the outside results of something like Twitter, without understanding the view from inside the Valley–and how much things have changed over the past few years. (more…)

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How to Build a Billion-Dollar Business

Build a Billion Dollar Business There are lots of posts online about how to make your first dollar, or even how to grow a modest side business. But there’s precious little information on how to build a billion-dollar company.

Before we get into the how, though, there’s something I want to address–and that’s why. Why would you want to build a billion-dollar business?

Even if you have decided you don’t want to build a business that large, I encourage you to read this anyway…it may very well change your perspective on how large you want your business to be.

Pushing Through the FUD

There’s a lot of FUD (fear, uncertainty, and doubt) around building large businesses. In particular, news media loves to hate on “workaholics”–people who seem consumed by their work. Reporters dish on divorces or family fallouts stemming from overworked parents or people who just can’t seem to disconnect from their smartphones.

So, the logical choice, if building a huge business causes you to be overworked and potentially lose your family, is to start a smaller business, right? One where you can work on the side to begin with and not over-tax yourself. One where you can still see your family. One where you don’t kill yourself for your business. It seems like a utopian ideal. But is it really possible? (more…)

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Are You an Entrepreneur–Or a “Wantrepreneur”? Find Out…

There are a lot of people running around these days calling themselves “entrepreneurs”. However, I’ve discovered a few fool-proof ways to quickly see the differences between successful entrepreneurs and wantrepreneurs–or people who want to start a business, but who actually aren’t going to take action and create a real business.

Here are five traits I’ve noticed in startup founders and entrepreneurs that don’t exist in “wantrepreneurs”: (more…)

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Pricing Strategies: How to Price Your Product or Service–To Avoid Killing Your Business

Pricing Strategy “How do I price my product?” another entrepreneur recently asked to an email list I’m on. “I’ve looked at our competitors, and I know how much it costs to produce what we offer. I think I know what my audience will pay. So–looking at all of that–what’s the best pricing strategy?(more…)

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I'm Erica Douglass.
After selling my online business at age 26 for over $1 million, I created this blog to help you grow your own business quickly.

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