A 3 Step Formula To Success — Literally!!

What does it really take to be successful? I think I have an answer. That’s a bold claim, I know. But I can back it up. Hear me out.

I’ve been teaching people how to bring product ideas to market via licensing with my partner Andrew Krauss for more than 14 years now. Andrew and I have solidified everything we know about product licensing into 10 simple steps. Our strategies work because they reduce risk and increase our students’ likelihood of success.

But the more I think about it, the more I believe our method of doing things can and should be applied more broadly. After all, I’ve used the same steps to achieve many different kinds of goals, such as getting PR for my business. You can too.

So what do I think success truly depends on? At its core, I think it’s the ability to acutely break down a problem and come up with an efficient solution. That’s it. There’s a better way of doing things. This is it.

1. Understand how the game is being played.

To master anything, you first need to study it. What are the rules? Who are the players? What’s happened before? Who is successful? Why do people fail? What’s considered innovative?

You are on a fact-finding mission. Leave no stone unturned. At this stage, I’m just trying to gather information. Because I know the best insight comes from people who have done what I’m trying to do, I try to seek out like-minded people for advice. I ask them to help me understand the topic at hand.

A lot of people skip this step. They plunge into new projects with only a cursory understanding of the subject. You might think you’re familiar with something, but unless and until you’ve ruthlessly studied it inside and out, you aren’t. There’s simply no excuse not to study up! The Internet has made it so easy to do. You may discover that the market isn’t large enough. Maybe it’s headed in a different direction, or has hit its peak. It might be too hard to break into. Either way, you need to know.

It’s OK to be naïve when you’re starting out. In fact, sometimes having a fresh perspective can be helpful. But if you don’t take the time to understand what the challenges ahead are going to be at the very beginning, you will experience pain later on. I know because it’s happened to me.

2. Find the opportunity.

When I take on a new endeavor, I try to identify holes. Are there problems in need of solving? What is lacking? Where is there room for improvement? What’s missing?

I then assess whether I’m capable of filling those holes. Given what you’ve learned, how do your weaknesses and strengths match up? Is there an opportunity for you to not only step in but also excel?

At this point, you may decide you need more information to come to a good conclusion. You might need to take a class or work harder to find a mentor. I am always on the lookout for opportunity. If you want to be successful, you should be too. It’s not enough to want to be successful and commit to working hard. You need to work smart.

3. Put your game plan together.

You have all of the critical information you need to succeed. How are you going to get there? What you need now is a plan of action. Map out how you’re going to get from point A to point B. Who are you going to turn to for help? Your road map will inevitably change, but you need a fully fleshed-out framework to turn to when things get chaotic.

The quickest path to succeed at anything is by hacking the system — as Tim Ferriss would say — first by studying what it is you want to achieve, then by identifying opportunities and finally by crafting a pitch and a plan based on what you learned and your best assets. You never have to reinvent the wheel. Finding your uniqueness­. That’s what adds value.

Is Student Debt The Reason Millennials Aren’t Starting Businesses ?

The share of young business owners has declined dramatically in recent years. Mitch Daniels, the President of Purdue University and the former Republican governor of Indiana, says he knows why. In a Wall Street Journal opinion piece, he places the blame on rising levels of student debt.

But the data suggest that student loans aren’t the only cause.

The fraction of young people who run their own companies has been declining for nearly two-and-a-half decades. The Wall Street Journalreported that the business-owning share of households headed by a person under the age of 30 dropped from nearly 11 percent in 1989 to under 4 percent in 2013 – a far steeper decline than for households overall.

Some economists believe that rising student loan levels are keeping young people from launching companies by soaking up their borrowing capacity. A few recent studies support this argument. Examination of data from the Federal Reserve’s Survey of Consumer Finances – the central bank’s effort to examine the financial conditions of American families – by two Northeastern University scholars shows that households with more student debt are less likely to start businessesthan other households. A separate paper by researchers at the Federal Reserve Bank of Philadelphia revealed that the U.S. counties with the greatest increase in student debt between 2000 and 2010 had thelargest decline in the number of business with between one and four employees.

While these studies suggest that the rising level of student debt contributes to the decline in rates of entrepreneurship among young people today, mounting student debt is unlikely to be the sole cause of low levels of entrepreneurship among millennials. The decline in business ownership among young people predates the rise in student loan debt. Student loan debt took off in 2004, the Federal Reserve Bank of New York reported recently. However, the decline in the fraction of households headed by a business owner under 30 began about 15 years earlier. Moreover, data from the Federal Reserve Survey of Consumer Finances show that the number of young business owning households declined by a greater percentage between 1989 and 1998 than between 2004 and 2013.

s I have discussed before, attitudes of business ownership have changed over the years. Fewer young people are as interested in entrepreneurial success today as members of their parents’ generation were when they were the same age. Other life goals, like “raising a family” and “influencing social values,” are more important to young people today, careful academic surveys reveal.

More importantly, these changes in attitudes predate the rise in student loans. The fraction of incoming college freshmen surveyed annually by the Cooperative Institutional Research Program at UCLA who reported that “becoming successful in a business of my own” was “essential” or “very important” to them declined from 52.1 percent in 1988 to 41 percent in 2004. In fact, between 2004 and 2012, when student loan levels took off, the fraction of people interested in being successful at business ownership actually increased slightly to 41.2 percent. Similarly, the fraction of students who told the UCLA researchers that entrepreneurship was their intended profession declined from 3.9 percent in 1988 to 3.3 percent in 2004. (The fraction declined to 2.9 percent by 2013).

Before policymakers and pundits conclude that the rise in student loans is the cause of the decline in rates of entrepreneurship among millennials – and decide that debt relief is the way to boost entrepreneurial activity among young people today – they should consider that waning interest in entrepreneurship predates the student loan crisis by many years.

How Franchises Are Democratizing Luxury!!

Massages, manicures and other health and beauty treatments, once considered indulgences, are increasingly becoming part of everyday life, made available and affordable to the masses by a number of rapidly growing franchise systems.

“There’s been a shift in consumer attitudes,” says Debi Lane, CEO of Boise, Idaho-based Lunchbox (A Waxing Salon), which has sold 113 units since it launched in 2010. “These types of things used to be a luxury. Now they are a commodity, something we put on our to-do lists, like picking up the dry cleaning. Except now people put on their list ‘Go to Whole Foods’ and ‘Get a quick wax.’ They don’t want to spend half a day in a spa. They want to schedule the service so it suits them.”

That’s where franchising comes in. Many concepts are leveraging their strong back-end scheduling systems, subscription-style models and size to provide high-quality personal services that are quick and convenient. Lane believes that enabling clients to book appointments online is one of the keys to Lunchbox’s success.

“People want a better, cheaper experience in just 15 minutes. Therein lies the challenge,” she says. “I really do feel like we’ve met those demands.”

John Leonesio, CEO of Houston- based Amazing Lash Studio, which offers semipermanent lash extensions, says many health and beauty services can be developed into franchises. As founder of Massage Envy, he helped pioneer the membership model followed by many personal-service franchises, wherein clients sign up for a certain number of visits per month that they can schedule online.

“What we do is offer a low introductory rate,” he says. “Then, hopefully, people sign up for a membership. It’s a model that worked well at Massage Envy. It makes an unpredictable industry predictable. We have a tremendous amount of data about customers coming through the door, and it allows us to schedule staff and growth. What I like about it is that the investment is not extremely high, and revenues are predictable. It makes for a very attractive franchise model.”

As Leonesio works to have 50 Amazing Lash units open by the end of the year, he continues to look ahead to the possibility of franchising other personal-service concepts. “There are a ton of things we could apply this model to,” he says. “Most of these services are highly fragmented. Any industry that is popular with mainly mom-and-pop operators and no large brands could work. The opportunities are endless.”

Chris Hardy, founding partner and CEO of Minneapolis-based laser hair-removal and skin-rejuvenation franchise BodyBrite, agrees that franchising has changed his industry. “We didn’t necessarily reinvent the brand, but we have taken it and repositioned and streamlined it,” he says. “There are a lot of independents in our industry. They go out there and lease or buy equipment and build out a beautiful office space. But it’s hard for them to make their service affordable while paying rent and equipment leases. They are usually inefficient with their square footage. We focus on a space that is only 1,000 square feet.”

Todd Leff, president and CEO of Hamilton, N.J.-based Hand & Stone Massage and Facial Spa, which has opened 215 units in the U.S. and Canada since it started to franchise in 2006, says the explosion in health and beauty services is driven by convenience. “When you think about the traditional massage industry, getting this service was very inconvenient. It wasn’t in retail shopping centers,” he says. “It was often in people’s homes … or it was available at a day spa and would be very expensive. Franchising made massage affordable, and we offer a better experience for our customers at 50 percent of what they were paying before.”

Lane, too, says convenience is a big driver for Lunchbox clients, not to mention consistency of service. By training new aestheticians in Lunchbox’s proprietary techniques and paying them well, Lane says, she has achieved a turnover rate of less than half the industry average.

“I want them to see this as a career,” she explains. “With that we have a lot of control over quality. When I’m traveling, I know if I go to Lunchbox, I’ll get the same wax in Sarasota as I do in Boise.”

BodyBrite’s Hardy says he learned the hard way who his core customers are and what they want. “At first we thought we needed to be in hip, cool places, and that young people would come to us to look good and be at the forefront of technology,” he explains. “We realized instead that our immediate client is the soccer mom. She has a job, young kids, disposable income and a desire to look good. We found that if young people have $50 extra, they aren’t going to use it on hair removal.”

While health and beauty concepts proliferate in the franchise world, one stumbling block is the perception that they can’t offer the same quality of experience as a traditional day spa or independent practitioner. While most franchise concepts don’t claim to compete with the atmosphere and amenities offered by luxury spas, they are focused on experience.

Leff says Hand & Stone is positioning itself to look and feel like a day spa. “We target somebody who is value-oriented but still wants a higher level of experience. Some of our competition is more clinical. Consumers want it all—value, a more welcoming environment, more pampering. We can deliver that.”

Lane, who ran a multiservice high-end spa for years, worked hard to develop the Lunchbox experience, spending a year and a half with a perfumer creating a signature scent and putting together detailed playlists for the audio systems. “From the music to the scent to the way we treat guests, it’s all a trickle-down effect from our culture,” she says.

From all indications, the personal- care revolution is far from over, as more concepts pop up each year. Michael Gilman was ahead of the curve in 2000, when he launched the Grooming Lounge, a Washington, D.C.-based franchise where men can get a shave, haircut, manicure and pedicure, as well as shop for proprietary products.

“Around the turn of the century, as men’s brands started to come out, people started to realize that taking care of yourself is not effeminate or girly,” he says. “Some of those taboos came down, and more barbershops and spas broke the barriers and let men know it’s OK to do this stuff.”

Gilman is confident the men’s care category will continue to grow. “I have so many guys who come in with a gift certificate from their wife and tell us, ‘This is not really my thing,’” he says. “Then the same guys walk out and say they loved it. I think it’s flipped 180 degrees where it’s not taboo; it’s something to be admired, and guys are proud they go.”

There’s plenty of innovation in the field, too. Jason and Gina Rivera launched Colorado Springs, Colo.-based Phenix Salon Suites in 2011 and built it to more than 100 units. Phenix rents out small salon suites to stylists and gives them the freedom to decorate, play music they like and cut hair the way they want to. The concept acts as both an incubator for new stylists and an opportunity for established stylists to run their own space without taking on the overhead of a full salon.

As Phenix aims to cross the 200-unit mark next year, Jason Rivera looks forward to the continued growth of the personal-care sector. “There’s been a societal and cultural change. It’s a faster-paced environment, and there are more two-income households where people have to pay attention to personal care because they’re out in the work force,” he says. “At the same time, people are realizing that massage has an impact on the body, that going to a hairstylist is therapeutic.”

Even better for business is the fact that such services demand a human factor that is not going away. “Technology is not going to replace these services,” Rivera points out. “You’re never going to get an app that cuts and colors your hair or gives you a massage.”

20 Reasons To Start Your Own Business

If you’re an entrepreneur you have heard the million reasons not to go into business: It’s too risky, you might go into debt, you’ll probably lose sleep, your social life is kaput, and the list goes on. But even with all these uncertainties, people are still attracted to the startup world. There are just as many, if not more reasons to take the leap and go start your own business.  Here are just a few:

1. Spare time. This one can take some time.  Initially you’ll work longer hours for less pay.  But if you do it right, you could start to master your schedule and the freedom that being an entrepreneur provides is awesome.

2. A story to tell. Whenever I tell someone I run my own business, they always want to know what I do, how I do it and how it’s going. I always am able to provide a tale or two, and the best part is that I get to determine the story’s chapters. (When working for a corporation, people most likely have less input.)

3. Tax benefits. For entrepreneurs (freelancers included), they have the opportunity to take advantage of some nice tax perks. Many can write off expenses like travel, food, phone bills, portions of car payments, and the list goes on. Also, certain startups qualify for government incentives. Make sure to ask your accountant about what tax benefits you may be eligible for.

4. Pride. When you build something successful, it’s a great feeling. You had a vision, were able to execute it and not can reap the benefits of saying “I did this.” On the other hand, it’s tough to be proud of the zillionth request for proposal you fill out for your employer.

5. Your posterity. If you’re a doctor, plumber or bus driver it’s hard to imagine you passing your career on to your loved ones. But if you own your own business, that’s something you can pass on to the next generation. And be proud of it, because you created it.

6. Job security. Have you ever been laid off, downsized, or fired?  If you have, you get this. With entrepreneurship the security lies in the fact you are your own boss. You run the show and don’t have to worry about getting let go.

7. Networking. Entrepreneurs are communal creatures.  We love to meet each other, swap stories, and learn from each other’s experiences. Your circle of friends and acquaintances always grows when you become an entrepreneur, as many founders need others to lean on to survive and talk about the challenges only known to them.

8. Doing good. While this isn’t exclusive to entrepreneurs, it’s definitely a perk. You control where your company profits go and if you choose, you can give allocate your financial gains to others. You can sponsor a charity, a non-profit or just personally give back to the community.  This is quite honestly one of the best parts of being an entrepreneur.

9. Novelty. We, as humans, love new experiences but rarely can you experience a host of new things from inside your cubicle. This all changes when you are running the show. Starting your own business will ensure you’ll always be facing new challenge and experiencing something new.

10. Mentorship. Having had mentors and getting to be a mentor have been some of the best experiences of my life.  Learning from the masters and getting to help those less experienced than you gives you such a sense of satisfaction. From my experience (and other’s stories) the entrepreneurial community is very willing to give back and lend a helping hand.

11. Becoming an expert. This point goes along with mentorship.  Regardless of what you do as an entrepreneur, if you stick with it, you’ll probably become very good at it. And this gives you a sort of soapbox, so use it. You’ll have the chance to be interviewed for your expertise, write about it and get to spread your message.

12. Skills. People ask me how I learned about SEO, social media, pay-per-click, PR and all the other marketing techniques I utilize. I tell them that I was forced to learn them, otherwise I wouldn’t survive.  The same way I was forced to learn how to build a spreadsheet, how to balance a budget, how to negotiate leases and countless other skills I picked up because I was the only resource I had. While developing new skills can be tough and takes times, it can pay off in spades.  These skills will be invaluable throughout your life.

13. Determination. Everything I’ve done as an entrepreneur has affected me in my personal life.  I used to be poor at committing to changes. But having been an entrepreneur for over a decade has forced me to become dedicated and determined to causes. (Now I can stick to an exercise plan much easier.)  I’m also better at being a father and husband because of that determination I learned.

14. Recognition. There are literally thousands of local, regional and national awards that recognize entrepreneurs in every field and industry. This shouldn’t be your only reason to start your business, but it certainly is a great feeling when you receive this recognition.

15. Financial independence. Let’s be honest, this is probably the biggest reason people get into business for themselves.  And that’s a good thing!  You should want financial independence.  However you define financial independence – retirement stockpile, unlimited cash potential or having the money to buy what you want —  entrepreneurship can allow you to achieve it. Trust me, money doesn’t buy happiness, but it does make finding happiness much easier.

16. Reinvention. I’ve started and sold several companies over my career.  And every time I sell a company, I’m presented with an opportunity to reinvent myself all over again. On the flip side, if I had received my law degree, I’d be a lawyer (not a lot of room to recreate myself). But as an entrepreneur, I get to be whatever I want to be.

17. Change the world. Everyone jokes that every entrepreneur says they’re going to change the world. It’s difficult to imagine how a cell phone accessory kiosk in the mall is going to change the world.  But there are those that do succeed.  Take a look at Elon Musk, Bill Gates, Sergey Brin, and the countless other entrepreneurs who really have changed the world in some small (or major) way.

18. Create jobs. There’s nothing like the satisfaction of knowing you’re responsible for the success of your employees.  Your ideas provided them the opportunity to earn a living, provide for their family and fulfill their own dreams.

19. Your brand. Being known for something is awfully enjoyable.  People may start referring to you as the marketing guy, or the retail maven or the software guru.  Whatever it is you’re recognized as, it’s fun to build that brand and earn that recognition.

20. Your reason. I’ve given you a list of why I think you should get into business.  But all that really matters is your reason to start your own business.  So, what is it?  Tweet out this story and add your reason.  Comment below and share with us why you did it.  I know it will be a good one.

(Originally Posted on Entrepreneur.com)

The 7 Tenets of Branding!

In today’s competitive marketplace, entrepreneurs—tasked with raising capital, attracting talent and getting their businesses off the ground—are up against a staggering statistical fail rate. But by following some basic principles related to design, marketing and user experience—tenets of some of the most powerful businesses out there—you can increase your odds of starting and maintaining a successful brand.

1. Simplicity

While it’s tempting to try to be everything to everyone, one of the most impactful ways to stand out in a crowded marketplace is to do one thing well. Vrai & Oro is a jewelry line that shucked the categorical norm of creating marked-up, seasonal items, focusing instead on a limited line of classic, timeless pieces—no gimmicks. The brand name translates to “truth and gold,” and that’s exactly what consumers get—streamlined offerings that are pure and unadulterated, with a simplicity that cuts through the clutter of competitors’ offerings. Even the straightforward web design and ordering process are a seamless extension of the company’s dedication to transparency.

2. Disruption

Strategies that break from norms can force an entire category to reevaluate its behavior. Having grown up in a family of pharmacists, TJ Parker was frustrated by the complexity of the business. His company, PillPack, is the first online pharmacy designed to help people take the right medication at the right time. The Somerville, Mass.-based service prepacks medications and delivers them to customers in convenient time-stamped packets, ensuring that there are no gaps in care. The company’s design, from its medication-scheduling system to its user interface, packaging and website—is simple, intuitive and human, challenging the confusing and alien design language of traditional pharmaceuticals.

Rather than just improving on its competition, PillPack has reinvented a category and infused humanity back into a sector that had lost touch with it.

3. Original Expression

A bold statement or expression can establish a new narrative and original attitude. Tina Roth Eisenberg was inspired to start Brooklyn-based Tattly after her daughter came home from a birthday party with an unsightly temporary tattoo. As a designer, she was more upset than many would be by the offending clip art, but from this she unlocked an opportunity. Tattly is now a profitable business of “designy temporary tattoos” with a cult following and retail partnerships with Forever 21, Urban Outfitters, J.Crew and the Museum of Modern Art. It’s a niche industry, but Tattly is making an impact in a bold way.

4. Big Ideas

A groundbreaking idea that evokes emotion can generate brand loyalty in unexpected and lasting ways. Spirits company Johnnie Walker sponsored Future, a gallery of “artwork not yet created.” Ten artists displayed blank canvases, promising to produce incredible work upon them, and challenged buyers to buy the pieces in advance, taking a chance on talent. The auction sold triple the amount expected.

While Johnnie Walker is not known for art, Future was a physical manifestation of the brand’s personality, showcasing the company’s “belief in people’s potential, transforming the way art collectors buy pieces of art and changing how new artists start their career.” By stepping out of its comfort zone with a big idea, Johnnie Walker humanized its brand while supporting and inspiring a section of its core demographic.

5. Symbolism

Powerful symbols transcend words to trigger emotions and create a meaningful impression. Lego’s business is built on child’s play, yet the brand captures the fancy of pretty much everyone, regardless of age. More than just elemental colored bricks, the iconic Lego blocks inspire creativity in a way that can resonate with adults—from artist Nathan Sawaya’s Lego sculptures to the award-winning The Lego Movie,whose humor spanned generations. The Lego brand symbolizes more than toys; it represents a world of possibility.

6. Meaning

Commit to making a genuine connection with your audience, and you better your chances of evoking an emotional response. The founders of New York City-based Warby Parker aimed to provide consumers with stylish, affordable eyewear that is also mission-driven. For every pair of glasses Warby Parker sells, it makes a donation that enables optical training in developing countries. Aside from the disruptive stance of challenging a long-stagnant category, the social-impact dimension of the business model was a novel approach that set an example for many companies to follow. By rooting the brand in something meaningful, Warby Parker passes on that meaning to its consumers, making them feel empowered by a purchase that not only looks amazing without breaking the bank, but also contributes to the greater good.

7. Depth

Layers of meaning and purity of purpose create a sense of warmth and emotion around a brand. When San Francisco-based Airbnb introduced its new logo last year, it wasn’t to the greatest of fanfare. But while the new identity may have fallen flat, what the brand did around the redesign process was powerful. In a live webcast reveal, the company walked viewers through the redesign strategy, outlining the brand’s many facets, identifying core values and objectives and reinforcing the dedication to an honest user experience. While the intention of the webcast was to reveal the new logo, those 45 minutes became a deeper experience, forging a sense of community, home and culture.

Airbnb continues to build out its brand in a deep and emotive way, updating security measures with full transparency and regularly communicating with customers through curated offerings and multifaceted messaging.

9 Intangible Assets Of Dominant Entrepreneurs !

Lose your degree. Years of experience can never fully convey your overall worth. There have to be more effective ways to display your value to a potential employer and to the business world at large.

Plain and simple, the resume is old and broken. It hasn’t had a major overhaul in nearly 380 years and it’s time to disrupt how job-seekers and hiring managers find the best candidates to fill positions. Our higher education system is a mess, and online schools continue to challenge the education model. Yet, we still use these same archaic methods for sourcing the right people by only scrutinizing education and years of experience through resumes. Blah!

Conversely, if you’re an outlier with ridiculously high talent, unconventional education and little experience (or any combination thereof. For example, a 21-year-old self-taught hacker with no formal education and one year of “job experience.”), this broken process makes it even more difficult for you to be discovered.

I’ve been obsessed with studying successful entrepreneurs and found that many have intangible qualities that wouldn’t, or couldn’t, be expressed on a standard resume. In addition, some entrepreneurs even had seemingly negative marks against them (by worldly standards at least) such as dropping out of college, not being able to hold a job, getting fired and unflattering social-media activity.

Here’s a list of nine intangible assets that entrepreneurs possess:

1. Ingenuity

You ever hear the saying, being an entrepreneur is like building the bridge as you walk across it? This refers to those entrepreneurs who always answer “yes” when asked if they can do something (even if they have no clue and figure it out as they go). They are the first to volunteer for the seemingly undoable tasks. They do it with confidence, because they believe that they can accomplish anything they put their minds to, even if they have no idea what they are doing.

2. Stubbornness

I’m referring to good stubbornness. These are the “I won’t take no for an answer” people. These people love a challenge and will get back up even if they fall 100 times because they know they are one step closer to getting the result they want. Giving up is not an option.

Here’s a good example:

Kellee Khalil created Lover.ly, a visual search engine and cloud scrapbook for everything wedding-related. According to Business Insider, “One week before Kellee Khalil launched her wedding startup, she received a coffee invitation from a business strategist at a top bridal site. ‘We have $70 million to buy competitors just so we can shut them down,’ Khalil was told.”

Unfazed by the message, and maybe even in spite of it, she has gone on to to build a wedding-site juggernaut where users now view more than 40 million images each month and have “loved and bundled” more than 400 million wedding details.

3. Cool under pressure

This is a tough skill to effectively measure on a person’s resume or LinkedIn profile.

Too many people are brilliant but can’t hang in the real world. They collapse under the first sign of adversity. Others can handle a decent amount of pressure before they crumble, but true A players thrive under pressure. It brings out the best in them. These are the entrepreneurs who seem to pull off the impossible.

4. Their network and peers

It sounds strange, but a person’s peers show a lot about who they are. People typically like to hang around others with the same interests and motivation levels. The saying goes that “you are the sum of five of your closest friends.”

It is the reason Entrepreneur’s Organization is so effective, and partly why LinkedIn exists.

5. Perseverance

Frederick Hutson did four years in the state penitentiary. That alone would dissuade most individuals from even thinking about starting a company, let alone attempt to disrupt an industry as big as the state prison system itself. He has since created a company, called Pigeon.ly, that provides inmates and their families with discounted phone calls and photo sharing.

The company boasts of supporting 2 million minutes per month on phone calls and a quarter-million photo shares. Pigeon.ly was recently accepted into Silicon Valley’s most prestigious accelerator, Y Combinator, and appears to have a very bright future.

6. Vision

Vision is an undeniably key trait for successful entrepreneurs. Sometimes vision can be the result of having such extensive knowledge of an industry, technology or market that the entrepreneur almost seemingly knows what the world wants. Noah Kagan’s vision with SumoMe, and its explosive growth is a perfect example.

The other type of entrepreneurs’ vision, that marks greats such as Steve Jobs and Elon Musk, is to bend the world to their vision.

7. Blind optimism

Justin Barr sold his company, Tapit, for $23 million. He was so blindly optimistic that he slept in his office and pulled all-nighters while working his butt off. He explains, “I just felt something, and went for it.” It didn’t matter what anyone else was doing in the space, he built a product he “knew” was going to be successful. He contributes his “blind optimism” towards his company’s success and ultimate acquisition.

8. Opportunistic

I recently read about the publicity stunt Tucker Max and Ryan Holidaywere able to orchestrate during one of Tucker’s book launches. Long story short, Tucker was denied the opportunity to make a sizable donation to Planned Parenthood, but despite this, he was able to leverage the controversy into millions of new page views, website traffic and tens of thousands of social-media shares.

The pair saw an opportunity, and leveraged it to the hilt.

9. Execution

Career Sushi has more than 10,000 internships available with companies nationwide including Warner Music Group, Billboard, FunnyorDie.com, Gary Sanchez Productions, Lionsgate Entertainment, Michael Stars and Draftfcb. It is the brainchild of Shara Senderoff, a film industry executive and producer who was determined to fix what she saw as a broken process for hiring interns.

Here’s what she had to say in an interview, “My mindset from a very early age has always been ‘to figure everything out and no matter what, find a solution.’ I was born a problem-solver. I believe my ‘find a solution’ attitude has allowed me to set an example to those around me. I’ve learned to execute, execute and execute again and I don’t think I’d have become the leader I am today if I didn’t approach everything I do with the belief that I can always be better.”

My co-founder and I believe the traditional model of judging a person’s professional worth is broken. That is exactly why we created Intangibly, and feel that this is arguably the most important factor.

My Favorite Field of Start Up Businesses!

As a young entrepreneur I’m always on the lookout for the next new “thing” … the next company that I believe will quickly climb the ranks and trample all other ventures of its nature. The fact of the matter in business and in life is that most things aren’t going to work overnight, businesses take tedious hours of calculating and factoring various scenarios with success being the end result. My personal favorite and what I believe to be almost a guarantee 9 times out of 10, is the call center business. The reason the call center business is my favorite pick, is due to the low overhead. The low overhead allows for even the newest of investors a chance to start a company with a high ceiling of success if proper precautions are taken prior to the launch of the company. The advantage of call centers is your selling a service, what I mean is… the goal is to sign up as many people as possible. The only downside people often face is the lack of service since a good amount of call center owners primarily focus on the marketing of the company and not so much the back end business aspect of it. My take and reason for writing this articles is.. whether your a new investor or an old investor; a young investor or an old investor… this may be a field you want to look closer into. If properly planned an executed you can put your self in a position to make some serious residual income. If you have any questions or are in need of guidance feel free to email me (ryanchristianstevens@gmail.com). I hope this article has been of some help to you and best of luck on your future business endeavors.

(Greek PM) – Warned Lenders Of Not Repaying IMF Debt In May

ATHENS (Reuters) – Greece’s Prime Minister Alexis Tsipras had at one stage warned foreign creditors that Athens would not repay 750 million euros due to the IMF in May unless they provided it with immediate liquidity, the Kathimerini newspaper reported on Saturday.

Athens ultimately made the May 12 payment by emptying an International Monetary Fund holding account.

Citing European sources, the newspaper said Tsipras made the threat in a May 8 letter to EU Commission President Jean-Claude Juncker, IMF head Christine Lagarde and ECB President Mario Draghi.

The Greek government did not immediately respond to a request for comment.

In his letter, Tsipras said Greece was starved of domestic sources of liquidity as it has been meeting its domestic and foreign debt obligations despite not having received any aid under its 240 billion euro bailout since last August, the newspaper said.

To restore liquidity, Tsipras proposed the ECB raise Greece’s treasury bill issuance ceiling; a partial disbursement of loan tranches worth 7.3 billion euros; the return of 1.9 billion euros in profits the ECB made by buying Greek bonds since 2010; and the return of 1.2 billion euros in the euro zone’s bailout fund, the EFSF.

The letter was viewed as “possible bluff” and reinforced a climate of mistrust between the two sides, the newspaper said.

Greece’s cash reserves are dwindling and negotiations between Tsipras’s new left-led government and its lenders over a cash-for-reforms deal have been fraught with delays for months.

On Friday, Tsipras said the two sides had found some common ground, but the government would not back down from its red lines such as no cuts to wages and pensions.

Investing In Federal Municipal Bonds

If you have at least $10,000 to invest you should definitely look into Federal Municipal Bonds. These bonds provide a tax free monthly income, not to mention it’s a safe conservative investment. Which means your placing your funds in a secure investment with very low risk. Of course this approach is for the more conservative investor, don’t expect to get rich off this ; But instead you can expect a consistent tax free monthly income. Many people think due to the current state of the economy that this is a risky investment, when in fact that’s not the case at all. Bonds are one of the oldest most secure forms of investing and your protected a great deal in this form of investing. This is simply a brief overview ; if you have any questions or would like me to go into further detail… Simply contact me via email : RyanChristianStevens@gmail.com