Uncategorized

If you want to grow your agency, I suggest following a handful of core planning steps. You might see some similarities in my strategies for how to grow an ecommerce business. I’ll take you through these steps from my experience so you can test them out.  Defining Your Niche: The First Step to Stand Out You can go into a variety of potential agency niches. Examples include industry-specific niches like healthcare, technology, and education. Service-based niches can be content creation, social media, and email marketing. You can focus on a particular geographic area or choose a target audience within an industry like B2B marketing, B2C bookkeeping services, or nonprofit customer service. Niche specialization is a powerful strategy for any agency. It helps you to differentiate yourself from other agencies, especially in a competitive market. By focusing on a specific area of expertise, you can: Attract clients who are looking for specific services. Show your agency’s expertise. Become a recognized expert.  Establish credibility and trust and build a strong reputation around that.  Command premium pricing for proven, unique expertise. Drill Down As you work on defining your agency’s niche, ask yourself the following questions: What areas of the industry do you find most exciting and fulfilling? What are your agency’s strengths and the skill areas where you specialize? Is there a market demand for your ideal niche?  Have you identified potential clients in your target market? How competitive is your potential niche? Is there room for a new player? Can you generate a sustainable income from this target niche? Look at a few potential niches so you have back-ups in case your top choice doesn’t look so good after this stage.  Once you’ve found the winner, work on communicating your niche clearly. All your channels and marketing materials need to highlight your specialization. You’ll also need to develop a unique selling proposition (USP) and build a strong portfolio. This is proof that you have something unique and valuable to offer.  Make an effort to network with industry professionals within your niche to build relationships. They can give you valuable insights, and you can also position yourself as a valuable partner to them. Building a Rock-Solid Team You need a strong team to grow your agency because people are the backbone of any successful agency.  Define the team’s structure with clear roles and responsibilities. Clearly outline the hierarchy for each position so hires can maintain efficient communication and decision-making. Define the ideal candidate for each role and its corresponding responsibilities. Look for individuals who have the right skills and experience. They also need the right cultural fit to excel in their roles at your agency. Think about certain personality traits that foster teamwork and collaboration. Prepare to provide all hires with proper training for their roles upfront, as well as continuous learning opportunities. This ensures that your team stays up-to-date on industry trends and best practices. By offering opportunities to develop new skills and advance their careers, you also build team loyalty. Create a positive and supportive work environment for all hires, encouraging creativity and innovation. Make sure you emphasize work-life balance to keep people healthy and happy and productive. Don’t forget to reward team members for their contributions to the agency’s success. Organize team-building activities to encourage collaboration and teamwork. Exemplify open and honest communication and align team members around shared goals and objectives. Empower the team and reduce your workload by delegating tasks effectively. Show your hires that you trust them to work independently and make autonomous decisions in their areas or responsibility. Make it a point to provide regular feedback and coaching to help team members grow. Be vigilant and address conflict proactively. Promptly call for discussions and mediate if necessary to ensure constructive conflict resolution. Encourage all parties to work together to find mutually beneficial solutions. Leveraging Technology for Efficiency Technology has been a game-changer for how agencies operate, especially if you’re outsourcing. With the right tools, you can streamline processes to improve productivity and enhance client satisfaction. Here are some of the tools that can help you grow your agency, from my experience: Project and task management tools like ClickUp, Trello, and Basecamp, can help you to keep deadlines and progress organized. It also facilitates collaboration among team members with features like calendar and file sharing, and real-time communication. Client communication tools like Mailchimp or Constant Contact make email marketing campaigns easy. Customer relationship management (CRM) systems like Salesforce and HubSpot are great for tracking deals and analyzing customer data. Team communication can go so much more smoothly with tools like Slack or Asana.  Content creation tools like Canva or Adobe Creative Suite are great for graphic content creation. You can also use writing tools like Pro Writing Aid or Hemingway Editor to improve the quality and readability of your text content. Use social media management tools like Hootsuite or Buffer for post scheduling and monitor performance and engagement with their built-in analytics tools. The right SEO tool is also essential. My business partner, Connor Gillivan, has a rundown of the best seo tools for small business needs, and some recommendations for SEO agency tools, too. These are our favorite for keyword research, on-page optimization, website analytics, backlinking, etc.  Mastering Client Acquisition and Retention Client acquisition and retention strategies are critical when you want to grow your agency. Here are my favorite ones: Know your ideal client so you can effectively target them. Create detailed profiles that include demographics, needs, and pain points. Tailor your marketing efforts to these targets. Build your online presence with an optimized website, high-quality content that attracts and engages your target audience, and robust social media engagement. Look for the right entrepreneurship conferences and industry events to join so you can take advantage of key networking opportunities. Join relevant workshops and professional associations, too, to connect with potential clients. These are also amazing places to form strategic partnerships with complementary businesses to cross-promote and reach a wider audience. Encourage satisfied clients

The risks of entrepreneurship span the personal and business spheres. They touch financial, emotional, and legal areas, among others. I’m going to walk you through these areas and how you can manage the risks involved. The Financial Risks: Your Money on the Line I find entrepreneurship so rewarding that I’m willing to take the risks involved. However, I always suggest that anyone taking this journey should be aware of these risks. You really need to count the cost before you dive in.  The first area of risk that most people notice in entrepreneurship is money. The potential for financial gain is significant, but you can also face a substantial risk of losses. This is especially true if you’re investing your own money. Loss of Investment Capital You need money to launch a business. Sometimes, this means a significant amount upfront. This will cover equipment, inventory, marketing, and other expenses.  You might also face other costs that you didn’t foresee, like legal fees and regulatory compliance costs. Watch out for economic downturns, too, which can eat up your capital more quickly than you expected. Low Revenue and Profitability Startups will commonly go through a phase of experiencing losses before becoming profitable. However, if you didn’t test viability, your business model may not meet market needs, and therefore never achieve profitability. Debt and Leverage If you’re borrowing money for your startup, loan repayments can become a burden. When interest rates keep going up, the cost of debt goes up, too, and your profitability goes down. Cash Flow Problems If your customers don’t pay when you expect them to, you can start feeling cash flow shortages. This is especially true if you’re bootstrapping.  If you end up overstocking an item, that will tie up your capital. It can also either increase storage costs or prevent you from stocking other items. If your business deals mostly in seasonal items, the fluctuations in sales can cause significant cash flow swings. Personal Liability Opening a sole proprietorship means that you are personally liable for your business’s debts and legal obligations. It’s the easiest business to open, but the most risky.  If you decide to launch as a partnership, your partner might be jointly liable. In the end, though, you will both still pay out of pocket.  Mitigating Financial Risks of Entrepreneurship Start with a comprehensive business plan that includes financial projections, market analysis, and risk assessment. Get professional financial advice. Watch expenses closely and implement ways to collect payments promptly.  Think about factoring or taking out lines of credit for short-term cash needs. Don’t leave out insurance coverage to save money.  Negotiate favorable payment terms with suppliers.  Look into diversifying your income streams and investing in other ventures. Stay updated on industry trends and market conditions as well as competitive threats. Then evaluate them and adapt your business strategy as needed. The Mental and Emotional Toll: Stress, Burnout, and Beyond From my experience, the mental and emotional risks of entrepreneurship can be easily overlooked. Everyone gets stressed, right? The entrepreneurially minded person doesn’t really think too much about it. However, these risks can have significant impacts. Stress and Anxiety Running a business can give you a constant sense of uncertainty that leads to stress and anxiety. Startups also mean a heavy workload and long hours, which can add to the stress. Moreover, thinking about financial risks can create its own stress. Burnout Because starting a business takes so much time and effort, entrepreneurs risk burnout almost constantly. It can be challenging to strike a good work-life balance with proper boundaries, too. Isolation and Loneliness Solopreneurs usually work alone at first, which can leave them feeling alone and isolated. Even with a small team, the leader can still feel that gap. This is compounded by a tight schedule which usually cuts out time for social interaction. Self-Doubt and Rejection New entrepreneurs, especially, tend to question their abilities and decisions. They might feel like a fraud and undeserving of success.  Setbacks like failed ideas or products can make you feel like a failure. The fear of failure itself can create significant pressure. Sometimes, you can feel rejected before you even face an actual failure. This happens most often when you face high expectations to succeed – from yourself as well as others. Mitigating Mental and Emotional Risks of Entrepreneurship Build a support network before you even launch the business. Surround yourself with other entrepreneurs and find relevant mentors. Make it a point to do self-care activities to maintain your mental and physical well-being. This includes setting clear boundaries between work and your personal life. If things get too overwhelming to manage efficiently, don’t feel weird about getting some professional guidance from a counselor or therapist. Market Risks: The Ever-Changing Business Landscape One of the most volatile risks of entrepreneurship is the market itself. Market trends come and go constantly, and changes are inevitable. This poses significant risks in the business landscape. Economic Fluctuations Economic downturns often reduce consumer spending while inflation increases costs. The result is fewer sales at reduced profit margins. Interest rate hikes also affect borrowing and investments. On the global scale, trade disputes and tariffs can disrupt supply chains and increase costs. You need to consider political instability and natural disasters in key markets, too.  Technological Disruption With the lightning pace of technological advancement today, obsolescence is a real threat. Products and services that are highly profitable today can soon be rendered obsolete. If you fail to adapt, you can lose your competitive advantage within weeks and fail to remain relevant. Consumer Preferences People’s tastes change. And today’s consumer is more flaky than ever before. Preferences evolve rapidly in populations that crave newness all the time for that quick dopamine fix. This impacts the demand for products and services in a big way. Consumers are also becoming more aware of ethical considerations. You need to consider sustainability, ethical sourcing, and social responsibility in your business practices. Competition New competitors can reduce market share, especially

This post is all about my tips for how to grow an ecommerce business. I’ll take you through what to do in terms of your market, website, social media, and sales channels. Then, I’ll touch on a couple of areas to streamline, and how to handle bookkeeping, customer feedback, and scaling. Understanding Your Market You need to do market research effectively to identify your target customers. This research will also tell you if your ecommerce business can actually cater to their needs.  First, create an ideal customer profile so you know what demographics, psychographics, and buying behavior you are targeting. Then, gather insights from this group.  As you gather more data, sort your target market into segments based on shared characteristics to go deeper. Identify which groups are the most valuable to your business. Analyze the data to understand customer needs and pain points.  Define what sets your business apart from competitors in solving customer problems. Test this value proposition or unique selling point with a small-scale campaign to find your customer acquisition cost for each segment. Market Analysis Tools A lot of how to grow an ecommerce business is solved with the right tools. Here are some that can make your life easier: Market research databases like Statista, Euromonitor, and Mintel offer industry data and consumer trends. Data analytics tools like Google Analytics, Semrush, and Hootsuite track website, search engine, and social media data. Social media listening tools like Brandwatch and Mention track brand sentiment across platforms. Competitive analysis tools like SimilarWeb and SpyFu provide competitor insights. Optimizing Your Ecommerce Website Optimization is non-negotiable when learning how to grow an ecommerce business. User-Friendly Design Your website design should be clean and consistently reflect your brand identity. Create visual appeal to leave a lasting impression. Build clear and easy navigation to increase user satisfaction.  Strategize how you place compelling calls to action prominently in your content. They guide users where you want them to go. Optimize each target area, like your checkout process. From my experience, it’s important to make sure that all your content is clear, concise, and optimized for search. Make it accessible to users with disabilities, too. The better your engagement is, the more search engines will reward your website.  Website Speed and Mobile Responsiveness Make sure your website loads quickly and shows up properly on mobile devices.  Optimize image file sizes. Minify CSS and JavaScript and combine files to reduce HTTP requests. Use browser caching and a Content Delivery Network (CDN). Optimize server response time. Use a responsive design framework or CSS media queries so your website adapts to different screen sizes. Minimize the number of redirects.  Consider touchscreens when you design navigation. Increasing Organic Traffic Another non-negotiable for how to grow an ecommerce business is SEO. On-page SEO involves keyword research and optimization, image optimization, high-quality content and tags, and clear URL structure. Technical SEO involves website loading speed, mobile-friendliness, an accurate XML sitemap, strategic robots.txt, and HTTPS. Off-page SEO involves high-quality backlinks, social media content promotion, local SEO, and getting your business information on online directories and citation sites. The key is creating a positive user experience and maintaining an effective content marketing strategy. Do this by analyzing website performance and making improvements.  Leveraging Social Media for Brand Awareness Choosing Platforms  Look at which social media sites your target audience hangs out on. You can track this through interests and online behaviors, like what platforms cater to certain products or have a certain focus: Instagram and Pinterest for visual products. Reddit and Facebook groups for community-driven products. LinkedIn for professional services. Instagram and TikTok for brand awareness and engagement. Twitter and Facebook customer service and relationship building. Instagram and Facebook for in-app shopping. Creating Engaging Content  These are my favorite tips for how to grow an ecommerce business. Understand your audience’s needs, interests, and pain points so you can create content that resonates with them. Always focus on quality information with visually appealing images and videos, engaging captions, relevant hashtags, etc. Develop a brand voice to reflect your values and personality, and use it consistently. Keep your audience engaged by asking and answering questions, prompting them to comment and share, and running contests. Encourage customers to talk about their experiences with your products or services, and repost that content. Include your social media links wherever it makes sense. Using Ads Effectively  I always suggest having clear goals and a defined audience before you start with ads. Use these details to reach the right people and create an impact. Write attention-grabbing headlines and copy that also encourages clicks. Adding quality, optimized images or videos of your products helps. Your ads also need to take prospects seamlessly to your website for the smoothest experience. Make sure you also have a strategy for testing your campaigns to find what works best. Analytics tools help a lot with tracking key metrics. Diversifying Sales Channels Expanding Your Presence  Different platforms have their own user bases. Choose which ones give you a wider reach to your target market to increase your chances of making more sales. Multiple platforms also diversifies your revenue streams. A variety of channels gives customers more flexibility – just make sure you can offer a consistent customer experience. Then you can take advantage of the valuable backlinks you get from listing products on multiple platforms.  My favorite advantage of having a strong presence on multiple platforms is the competitive edge that you gain. Most businesses rely on only one marketplace. Managing Logistics and Consistency  As you get deeper into how to grow an ecommerce business, you’ll want to streamline more processes. Implementing a centralized inventory management system can help a lot: Avoid overselling and overstocking. Route orders based on location and product availability. Communicate effectively with your suppliers and teams.  Use consistent packaging materials and shipping methods for better branding. Provide accurate shipping information and tracking to customers. Make returns and exchanges easy across all channels. Manage quality control effectively, even when demand increases.  Streamlining

I love entrepreneurship books. I read a lot, but not every one offers as much value as the others. In this post, I go over the criteria that make up my favorite kind. I also include a list of my top must-read entrepreneurship books. What Makes a Great Entrepreneurship Book? The Essentials The best entrepreneurship books offer actionable advice and strategies. This way, you can apply them to your own entrepreneurial journey. I love books that outline clear steps, frameworks, and real-world examples. I’ve read books that have helped me as a new entrepreneur and as a seasoned one ready to sell a successful business. Different books cover different aspects of entrepreneurship. Look for the ones that target your growth areas.  I always look into who’s writing the book. Prioritize material written by successful entrepreneurs with proven track records. They should have experience and expertise that aligns with your interests. Also Good to Have I like books that are engaging and easy to understand. This helps me absorb the knowledge faster. I also recommend books that inspire people to take action.  Look for a good balance between theoretical frameworks and practical advice. Read reviews to check this, and see if the book resonates with entrepreneurs with your same needs. Look for book recommendations from entrepreneurship blogs and podcasts. Check out books that have won awards in entrepreneurship or business categories, too. Top 10 Must-Read Books for Entrepreneurs “The Lean Startup” by Eric Ries Eric Ries goes against traditional startup methods in this book. He proposes a new approach based on rapid experimentation and validated learning. “The Lean Startup” is a framework for continuous improvement that encourages a culture of experimentation and data-driven decision making to build more successful businesses. “Zero to One” by Peter Thiel Peter Thiel is a successful entrepreneur and investor. He argues in this book that true progress and value come from creating entirely new things. He says that iterating on existing ideas cuts your profit potential. “Zero to One” presents a controversial perspective, encouraging entrepreneurs to challenge the status quo and pursue groundbreaking ideas that build monopolies​​​​. “The $100 Startup” by Chris Guillebeau “The $100 Startup” dismantles the myth that you need a lot of money to launch a successful business. Chris Guillebeau focuses on helping aspiring entrepreneurs create profitable micro businesses based on existing passions and skills. The hook is minimal investment, ideally around $100 only. This motivational and practical guide empowers anyone who wants to jumo into entrepreneurship. “Deep Work” by Cal Newport In “Deep Work,” Cal Newport says that focusing intensely on cognitively demanding tasks is a critical skill. Many have lost this ability in our information age, but entrepreneurs need strategies for cultivating it to succeed in a world filled with distractions. He gives practical strategies to cultivate deep work habits to achieve high productivity​​. “Start with Why” by Simon Sinek Simon Sinek proposes starting with why you do what you do. This challenges traditional marketing and leadership advice that says you must focus on what you do and how you do it.  He says that the most inspiring organizations attract loyal followings because they express their core purpose and beliefs and, so, inspire people. “The E-Myth Revisited” by Michael E. Gerber In “The E-Myth Revisited,” Michael E. Gerber breaks the common misconception that technical or trade skills are enough to run a successful business. He argues that entrepreneurs need systems and processes for sustainable growth. “Hooked” by Nir Eyal “Hooked” is Nir Eyal’s dive into the psychology behind habit-forming products. He explains how companies need to design offering to keep users coming back for more. His four-step framework teaches companies how to create addictive experiences. It does raise ethical concerns, but companies can offer real value while at the same time, captivate customers’ attention over the long term. “The Hard Thing About Hard Things” by Ben Horowitz Ben Horowitz is a seasoned entrepreneur and investor with a lot of insight into navigating the challenges of being a CEO. He focuses on the startup environment in this book. He offers tough love, which you need to navigate the complex and demanding journey of building a successful business. My favorite thing about “The Hard Thing About Hard Things” is how unfiltered it is​​. “Shoe Dog” by Phil Knight “Shoe Dog,” by Nike co-founder Phil Knight, chronicles the entire story of building this giant. He goes through key teaching moments from his own mistakes. The focus is on the determination and resilience it takes to create a business powerhouse. “Crush It!” by Gary Vaynerchuk In “Crush It!,” social media pioneer and entrepreneur Gary Vaynerchuk maps out how you can turn your passion into a profitable business. This book is a very practical and motivational guide to leveraging passion in the digital age. You’ll be encouraged to work hard, be authentic, and use the power of social media to build a loyal following. Why These Entrepreneurship Books Stand Out The Lean Startup approach gives entrepreneurs an increased chance of success by building what customers actually want.  Zero to One shares Thiel’s belief that true innovation leads to a better future. With this, entrepreneurs need a clear vision for what they’re building. The $100 Startup features real-life stories of successful ventures with minimal investment. It inspires readers to take even small steps to validate ideas and start building. Deep Work has good insight on sharpening cognitive abilities through focus. My favorite part is doing more meaningful work in less time. Start with Why teaches entrepreneurs to understand that people don’t buy what you do, but why you do it. They connect with personable brands that share their values. It inspires loyalty, motivation, and innovation. The E-Myth Revisited teaches systems for scalability and growth with minimal supervision. This saves owners from the “technician trap”. Hooked explains the beauty of products that create habits. This leads to deeper brand loyalty and more monetization opportunities.  The Hard Thing About Hard Things teaches my favorite principles. Learn from your mistakes, surround yourself with

What must an entrepreneur assume when starting a business? In this post, I’ll share what I’ve learned through my experiences with serial entrepreneurship. We’ll look at financial and legal considerations first. Then I’ll dive into management, sales and marketing, and customer service. Finally, I’ll share my suggestions around continuous learning, adaptability, and commitment.  Understanding the Market Market Research Thorough market research helps you identify your ideal customers, what they need and want, and how they behave. Then you can tailor your products, services, and marketing messages to resonate with them. This is how you win them over. Market research gives you insights into your competitors’ strengths, weaknesses, and offerings. Then you can find the gaps that your business can fill. You should also look at how you can differentiate yourself from the competition. Just like people are constantly changing their minds, market dynamics never stop evolving. Doing research helps you spot emerging trends so you can anticipate future customer needs. This way, you can adapt to stay competitive. Generally, thorough market research also: Protects you from costly mistakes Drives sales and profitability Gives you better returns on your marketing spend. From Challenge to Growth My experience tells me that entrepreneurs are basically professional problem-solvers. This means that your success as an entrepreneur is based on how well you can identify issues and develop creative solutions for them.  So, an entrepreneur must always be ready to adapt to overcome challenges. The best entrepreneurs go further, not just weathering storms but actually using challenges as springboards for growth. For example, the successful entrepreneur will: Turn unmet consumer needs and inefficiencies in existing solutions into innovative products and services. Find others who share a personal pain point and develop an entrepreneurial venture to address it.  Strong entrepreneurs don’t focus on the pros and cons of entrepreneurship or how hard a challenge is. They have a mindset that immediately shifts to developing creative solutions around roadblocks to move forward. I suggest: Instead of getting discouraged, look at a challenge positively, like an interesting puzzle. This will help you take a creative and solution-oriented approach. Analyze what caused the setback and use your insights to develop better strategies so you won’t face the same issues in the future. Financial Considerations and Risks Financial Accountability  When people ask me, “What must an entrepreneur assume when starting a business?” I lead with financial accountability. An entrepreneur needs to take this responsibility seriously to make it in the long run. Financial accountability gives you a clear understanding of income and business expenses. This helps you be smart about where you put your resources and how you prioritize investments. And that builds financial stability. I strongly suggest creating a quarterly budget with your expected income and expenses. Monitor it against your results so you can see where you need to course-correct. This way, you can manage your cash flow.  The goal is to not only meet obligations, but never miss opportunities that come your way. You also have an emergency buffer for any unexpected events or market downturns. Risk Management I see entrepreneurship as an exciting tightrope walk between innovation and uncertainty. I love the idea of huge potential rewards, but that always comes with scary risks around things like: Demand for your product or service Predictions of customer preferences and buying habits Funding and cash flow in the early stages  Competition from established and new players  Sustainable market share  Human resource management  Supply chain and operations Fast-paced technological advancements These are my favorite risk management strategies: Conduct thorough market research to validate your business idea. Build a strong business plan to keep you focused and adaptable. It will also help you secure funding. Look into different funding sources, including bootstrapping. Build a capable team of talented and experienced people who complement your skillset.  Never stop learning, especially around industry trends, new technologies, and customer preferences.  Always have an emergency fund. Legal and Operational Preparedness Legal Obligations Business Registration Before you start the paperwork, choose a business structure and make sure you understand the tax obligations and risks. Being a sole proprietor, for example, means you have unlimited liability. Choosing an LLC instead protects your personal money. If you want to raise funds, you need to consider forming a corporation. Now you can register your business and get an Employer Identification Number. Check with your state to see what licenses and permits you need. Some cities and counties also have their own requirements. The US Small Business Administration can tell you if you need a federal license to operate.  Labor Laws You need to comply with minimum wage, overtime pay, and child labor standards. Check your state’s labor laws, too. Make sure you classify hires correctly as employees or independent contractors for tax purposes. In line with that, always keep accurate financial records. Operational Costs You need to know your upfront costs and ongoing expenses to make sure you can be profitable. Get specific with where your resources will go and where you’ll get more if you need it.  You’re more likely to get loans or investments if you have a comprehensive financial plan. This means realistic projections and strategies to manage cash flow. Leadership and Team Management What must an entrepreneur assume when starting a business in terms of leading teams? From my experience, a successful entrepreneur has to go from a solopreneur to leading teams. This means shifting your mindset and skillset. Here’s how: Find out what you can delegate to free up your time for strategic leadership. Clearly define these roles. Outline the skillsets you need and where you can find talent that aligns with your company culture, vision, and values. Make sure candidates have clear instructions and expectations before you hire them. Don’t forget to give them the resources and support they need to succeed. Emphasize open and transparent communication to build trust and a sense of ownership. Create a collaborative environment  that motivates and unifies them and celebrates achievements.  Inspire your team to achieve

This is not my first guide around how to outsource to the Philippines. But I want to give you some of my favorite tips to getting it right the first time. In this post, I’ll take you through the process that I developed over my 10+ years of experience. I’ve been hiring virtual assistants from the Philippines for all my businesses, and it’s the best solution.  Why the Philippines? I opened an Amazon store shortly after my college made me stop selling used textbooks out of my dorm room in 2009. That was my first business, but Amazon became my first serious venture.  I was determined to make it big on Amazon, and I needed help. So I started hiring college friends and other students. That did not work out too well. I couldn’t depend on them, and it almost crashed my business. That’s when a friend of mine introduced me to the idea of hiring help virtually. I started trying out different freelancers on sites like Upwork, which was called Odesk at the time, and Fiverr. That was purely hit and miss. My partner Connor Gillivan and I knew that there has to be a better way. We always documented our processes and decision-making, so we used that to analyze the problems we were having.  Soon, we figured out that we could ask better questions to vet candidates properly. We also discovered that hiring VAs from the Philippines gave us better results across the board.  Strengths of Filipino VAs Filipino virtual assistants (VAs) have a number of core strengths that are tied to their cultural identity and experience. These innate strengths, if you will, make them highly valuable assets to businesses around the world.  Below are some of the main ones that I found have brought the most value to our businesses over the years.  Communication Skills The Philippines is one of the few nations in Asia where you can find high levels of English proficiency. Most Filipinos know enough English to get by, and they have a more neutral accent that’s easy to understand.  Because their education system focuses on language skills, Filipinos also tend to have strong written communication. This means that they can deliver clear and concise information. Flexibility and Amiability The Filipino culture emphasizes respect for others and a strong work ethic. This means that on average, the Filipino VA is someone who cares about serving at a high level. In a VA role, people from the Philippines prove themselves to be adaptable and eager to build strong working relationships with clients. Filipinos are also well known for their cheerful and positive disposition. It’s often said locally that nothing can bring a Filipino down. This is a huge asset for any worker, but especially for virtual assistants.  This generally good attitude despite circumstances helps Filipino VAs maintain a professional demeanor at all times. Even when challenging tasks and difficult clients come their way, they remain polite and respectful. Tech Savvy The Philippines has a very large young population. This means that most Filipinos you will find looking for work will be very familiar with the latest technologies. Combined with a high digital literacy rate, you can hire wel-educated teams without looking very far. Most Filipinos listed on freelance marketplaces are generally comfortable with technology. Any tools that they don’t know, they are mostly willing to learn, and can do so quickly. Cost Effectiveness With all of the advantages listed above, you would expect to pay a lot if you were hiring from your local area. Filipino VAs offer competitive rates compared to VAs in other countries because their cost of living is lower.  Cost savings around hiring is a major advantage for businesses, especially startups. Not only can you hire more and better help for less, but you can offset your savings to support your best hires. This builds loyalty to ensure that they stay on with you long-term.  Problem-Solving Filipinos are very resourceful people. They can often come up with innovative solutions to problems on their own. Just give them the freedom to brainstorm and they can surprise you. This creativity of Filipinos mostly comes from their history of hardship. This has helped them to build resilience to a level that can’t be bought. One main Filipinos trait is their ability to overcome challenges, which translates well on the job. They usually deal very well with unexpected situations and tight deadlines. Identifying What to Outsource Before you outsource to Philippines agencies, marketplaces, or independent freelancers, you need to know what to outsource.  I suggest the following areas where I know Filipino freelancers and virtual assistants can do very well, and why. It’s a good list, because of their strong skillset and cultural attributes make them suitable for lots of tasks. Administrative and Support Services Accuracy and efficiency in accomplishing even the most tedious and time-consuming data entry tasks. Meticulous research and quality lead generation skills for niche target businesses and audiences. On the ball with managing email inboxes, scheduling appointments, and keeping you organized. Efficient at booking flights and making other travel arrangements. A wide pool of number-savvy individuals with bookkeeping and accounting knowledge and experience. Excellent at customer service in particular, with their excellent communication skills, pleasing demeanor, and willingness to go the extra mile. They are well-suited for email, phone, and social media customer interaction. Creative and Technical Adept at creating engaging social media content and managing the conversations around it. Skilled at graphic design, creating presentations, infographics, social media posts, and marketing materials. Above-average content writing and editing skills for marketing copy, blog posts, and website pages. Rising talents in the world of web development and programming, even in the more technical areas. The Outsourcing Process: How to Start Define Needs and Goals The first step to outsource to the Philippines is to identify tasks to outsource. If you didn’t find what you need above, make your own list.  Carefully analyze your current workload to separate the repetitive and time-consuming

My serial entrepreneurship journey has taught me a lot of lessons. This post tells the story of how it all began. I also share the key moments that shaped my journey. I’m sharing my experience here so you can use some of these solid tips on your own journey. The Early Days: A Dorm Room and a Big Idea Reselling Textbooks One day in 2009, I was sitting in my Quinnipiac college dorm room. The school bookstore charged so much money for textbooks, and I felt ripped off. There was no reason to ask students to pay so much for books they would read once.  To make things better, I created a competing textbook business. I would buy used books from students and resell them at reasonable prices. The college got wind of it and sent me a cease and desist letter within 6 months.  I could have just given up right there. But I saw it as the best thing that ever happened to me.  My New Amazon Store I had to move my business to Amazon, and soon learned that I needed to find other products to sell. My new Amazon selling account really started to take off when I found a great toy and baby niche.  This is when I met my long-time business partner, Connor Gillivan. We were taking a Business Law class together, and decided to team up on the Amazon business. Connor and I ended up selling more than $25 million on Amazon over the next 5 years. Discovering the Power of Virtual Assistants For us, serial entrepreneurship would not have been possible without virtual assistants. But we didn’t know that at the beginning. It was a tough road. We hired, at first, out of the same college we attended. That came with a lot of challenges. Most of the students we hired were unreliable.  I want to make entrepreneurship simpler for millions who are just getting started. So I suggest making virtual assistants part of your plan from the very beginning. Learning to Outsource After one of my friends introduced us to virtual assistants, we went on a learning journey. We wanted to know how to make the best hires. Then, we got our Amazon store running successfully with virtual assistants. That changed our lives forever. We decided to share our success by building a freelance marketplace called FreeUp. There, other entrepreneurs who struggled to hire could find pre-vetted virtual assistants for their needs. We put in $5,000 and scaled it to $12 million in yearly revenue by year 4. In 2019, we sold FreeUp to The HOTH. Teaching to Outsource, and More We learned so much more building the FreeUp Marketplace. We wanted to take everything we learned and help entrepreneurs. So, we built B2B businesses covering hiring, bookkeeping, and SEO.  With our businesses, we offer other entrepreneurs the exact same process we used to build our own success. Outsource School, EcomBalance, AccountsBalance, TrioSEO, and The Savvy SEO are part of our current portfolio. Scaling Businesses with Innovative Solutions Building FreeUp FreeUp will always be one of my favorite serial entrepreneurship stories. It begins with a pain point that was frustrating us. We started hiring virtual assistants, which was great. But hiring online from platforms like Odesk (now Upwork), Upwork, and Fiverr was hit and miss.  We spent years trying to find the best freelance talent for our Amazon business. It took so much time, and we still had too much turnover. We needed a better way. I always suggest building a business based off a problem that many people in a specific market have. When we discovered that hundreds of other people shared our hiring challenges, we created a service that targeted them. We launched and grew FreeUp with a loyal following of clients from our eCommerce business offerings – consulting and selling on Amazon. Helping them to hire reliable freelancers became the most popular service.  The unique value proposition of offering pre-vetted freelancers formed the foundation for a strong business. Selling FreeUp The HOTH acquired FreeUp in 2019. We weren’t looking to sell originally, but when the HOTH approached us, we realized it was best. They had the advanced experience to scale FreeUp past $20 million or even $50 million per year.  We put a lot into building FreeUp to where it was and we loved everyone that was a part of the marketplace. Letting go was best for the company, so we could see it hit record growth in the years to come.  Lessons Learned The pros and cons of entrepreneurship can threaten to take anyone on a rollercoaster ride. The serial entrepreneurship experience itself has been the most valuable lesson for me. My goal, though, is to help you so you don’t have to go through the same pitfalls.  Here are my favorite key strategies and insights from my experience scaling and exiting FreeUp. Timing the Market Both building and selling FreeUp depended on perfect timing. We were able to see the need for ecommerce virtual assistants. Then we shifted as the market called for help in various industries, like real estate and marketing agencies. The acquisition of FreeUp was completely strategic. The market was getting more and more competitive, and the economy was at an all-time high. We exited at a time that opened opportunities for us to explore new ventures. Document the Journey I owe a lot of my success as an entrepreneur to how I kept records of every decision made. Documenting the journey give you the roadmap you need to evaluate each step. This is how I saw what I missed and what worked.  I suggest that you take notes on everything, no matter how insignificant it might look. You never know what can end up being a significant factor. When you get to see how one thing led to another, you will learn how to make better decisions next time.  Rinse and Repeat I took a very strategic approach to building a

I’ve gathered a bunch of great principles of entrepreneurship in my years of running businesses. I’m sharing 15 of the best ones here for you. 1. Vision and Goal Setting The Importance of a Clear Vision Define Your Vision I suggest you start defining your 5-10-year vision based on your core values, passions, and desired outcomes. Imagine your ideal future life and the impact you want to make.  Incorporate specific aspects that will help you track your progress. Milestones or metrics that are relevant to your goals are great. Be prepared to adjust your vision, too, in case life throws you curveballs.  Align Actions with Goals Break down your long-term goals into manageable steps to bridge the gap between your dreams and your daily routine. Set daily tasks that act like stepping stones to your desired outcome. From my experience, you should consider prioritizing tasks that have a bigger impact. Use a technique like the Eisenhower Matrix to help you categorize them.  Setting SMART Goals SMART stands for:  Specific – Be clear about what you want to achieve. Measurable – Make sure you can track your progress. Achievable – Make your goals realistic. Relevant – Each goal must align with your bigger vision. Time-Bound – Set a deadline for achieving each step. Practical Tips for Setting SMART Goals I suggest first understanding what motivates you to achieve your goal. Evaluate your current skills and resources so you don’t set yourself up for failure with an overly ambitious goal.  Break down big goals into manageable milestones and set up a system to monitor your progress. Don’t forget to celebrate your achievements!  2. Adaptability and Flexibility Navigating Changing Markets Adaptability Markets are constantly changing because of new technologies, customer preferences, and economic shifts. From my experience, you need to react swiftly, adjust strategies, and seize new opportunities before your competitors. If you get comfortable embracing change, you will be more likely to stay ahead of the curve with new ideas and creative solutions. You will also effectively re-allocate resources to match changing priorities to maximize your return on investment. Case Studies  Netflix started in the Blockbuster Video dominated era as a niche player with a DVD-by-mail service. They pivoted to online streaming as customer viewing habits changed and survived when Blockbuster went bankrupt. LEGO faced declining sales in the early 2000s with competition from high-tech games and toys. They innovated with new product lines like LEGO Mindstorms and licensed sets based on popular franchises. Along with some digital marketing and online experiences, they bounced back up to their former billion-dollar brand status. Embracing Change Flexible Business Culture One of my favorite principles of entrepreneurship is that flexibility is a key driver of success. Businesses that embrace remote work schedules and flexible work hours are more likely to attract and retain top talent.  Evaluate people based on their accomplishments and contributions. Trust people to manage their time effectively and empower them to take ownership of their work.  Use cloud-based tools for seamless collaboration and to create a culture of trust and autonomy. Encourage open communication and feedback exchange. 3. Market Research Understanding Your Audience You need thorough market research to get the information you need to guide your decisions, avoid roadblocks, and reach your business goals. It helps you by: Reducing risk and informing business decisions. Identifying new opportunities and target markets. Informing product development and marketing moves.  Helping you stay competitive and pivot. Providing valuable feedback to improve sales and customer service. Staying Ahead of Competitors Identify your direct and indirect competitors and gather details about their products, services, target audience, messaging, and brand image.  Map out their strengths and weaknesses and opportunities and strategies you can use to stand out in the market. Compare your value proposition to theirs, and benchmark your performance on key metrics.  4. Risk Management Assessing and Mitigating Risks Make sure you can avoid financial risks by either securing enough funding or managing cash flow effectively.  A great product or service doesn’t guarantee success if it can’t meet a genuine customer need or want. This goes along with the principles of entrepreneurship that teach us the need to stand out and capture market share.  Technical glitches and security breaches can damage your reputation and disrupt operations. You need to mitigate these as you fight to stay relevant and keep your competitive edge. Develop a Plan I suggest these key steps to develop a well-defined risk management plan: Identify potential risks and common challenges faced by businesses in your sector.  Evaluate the likelihood of each risk and its potential impact and apply risk response strategies Document who is responsible for monitoring your risks and assessment scores and implementing the response strategies. Balancing Risk and Reward You can take calculated risks with careful planning to minimize potential downsides. Assess the risk against the potential rewards alongside the downsides. Analyze the likelihood of success using reliable data and expert opinions. Develop a backup plan to deal with potential negative consequences and set aside the resources you need to manage the risk.  Make sure you’re comfortable taking the risk before you commit. 5. Financial Acumen Financial Literacy for Entrepreneurs Here are my favorite financial principles that every entrepreneur should know: Understand Cash Flow – Cash flow is the lifeblood of your business. Develop a system for tracking revenue and expenses to see where your money is.  Budget and Forecast – Create a well-defined budget with projected income and expenses for a specific period. Forecast future financial performance, considering different factors. Gauge Profitability – Ensure sustainability with healthy margins. Sustainable Financial Practices Financial health requires consistent effort. I suggest focusing on: Tracking expense and savings goals, adjusting as needed. Make your savings and emergency fund non-negotiable.  Avoid debt as much as possible and pay off high-interest debt as soon as possible.  Start investing early, even small amounts. 6. Innovation and Creativity Fostering a Culture of Innovation I like to encourage open communication and idea sharing in all my teams by breaking

A lot of people I talk to don’t really think about the pros and cons of entrepreneurship before they start. They can end up really frustrated and wonder what they got themselves into. This is why I think it’s really important to know the key points before you launch a business.  The Pros of Being an Entrepreneur Don’t get me wrong – entrepreneurship is great. I love being an entrepreneur. From my experience, these are the best reasons to think about going on this journey. Freedom to Create a Path Entrepreneurship allows you to pursue your passions and build a business around something you truly believe in. It also gives you the freedom to make your own decisions in the process. You can steer your company in any direction you choose.  As an employee, you are always going where someone else wants to go and following their instructions. When you can chart your course for success, you can choose to take on only what you can handle.  Flexibility in Work Hours and Location As an entrepreneur, you get to set your own schedule and work from anywhere. You can work as much or as little as you want, depending on your growth goals. You don’t need to go into an office unless you want to, and you can create whatever work environment serves you best. Being an entrepreneur can be demanding, but you can get better work-life balance in the long run. I suggest that you focus on building a strong team from the beginning to protect your time. The Financial Upside As long as you put in enough effort, you have unlimited potential for financial success. You aren’t limited by a fixed salary or hours set by a boss. You can get the full benefits of your efforts. Of course, you need to be strategic, but at least you get a much bigger share of the profits.  If the business grows and becomes valuable, you can benefit from higher equity value and even a potential acquisition. Your freedom also opens up the possibility for multiple income streams within your business model. Opportunities for Community Involvement Entrepreneurship allows you to engage with your local community to a higher level. You can spend more time and make a bigger contribution. This is important if you want to make a direct and meaningful impact. As an entrepreneur, you can tap into unique opportunities that traditional employees can’t access. Solving Problems As an entrepreneur, you will learn things that make you more aware of the needs and challenges that the community faces. You will also gain the knowledge and experience you need to identify gaps in services, products, and infrastructure. With financial freedom, you will then be in a position to develop businesses that can bring improvements to these issues. Boosting the Economy Entrepreneurs also have the power to boost the local economy. Businesses create new jobs, inject fresh capital, and promote overall economic well-being. Entrepreneurs can also actively participate in community events, volunteer their time, or donate resources to local causes.  Empowering Others One of my favorite pros and cons of entrepreneurship is how it empowers others. This is mostly an advantage, if you do it right. Competition is a positive force as long as you build up the right training programs and mentorship opportunities. It can create problems only if you are not responsible with what you advocate for and the practices you demonstrate. Passion and Fulfillment For people with an entrepreneurial mindset, there’s nothing better than the satisfaction of building something from the ground up. Most entrepreneurs I know, including me, also love working in fields they are passionate about. We aren’t just in it for the money, because that wouldn’t really be fulfilling.  Different people are driven by different factors, but being an entrepreneur gives you the power to do what fulfills you. If you’re passionate about solving problems and making a positive impact on the world, you can do that. If you love building things from scratch, you can invest in creating things that you can be proud of. If you want freedom and independence or love to learn and grow, simply being an entrepreneur can give you that. One of my favorite things about being an entrepreneur is creating a legacy that means something. The Cons of Entrepreneurship Most people get blinded, almost, by all the great stuff they hear about becoming an entrepreneur. They dive in, and before they know it, they’re drowning because they never expected it to be hard. Still, you don’t have to trade pros and cons of entrepreneurship to be a happy business owner. Financial Risks and Initial Costs As the boss, you have the responsibility of covering all of the financial burdens. You need to face all the uncertainties and carry the initial investments. The potential for loss is on your shoulders. Another favorite pros and cons of entrepreneurship is this significant financial risk. I love the challenge of the burden, and the risk factor motivates me to work harder. Of course, that means putting my family at risk, too, so that’s not the best side of it. As an entrepreneur, you don’t always get financial stability and predictability with a fixed salary. You also won’t get paid time off or a retirement plan or any other perks unless you pay for all of it yourself. You might even need to invest personal savings, take out loans, or attract investors. These don’t always turn out to be the best decisions, and through it all, you don’t get any guarantee of success. Stress, Burnout, and Health Concerns The business landscape is constantly evolving, and entrepreneurs face constant uncertainty. So, entrepreneurship can take a really big toll on you personally. It’s a pretty stressful life if you don’t have the right strategies to cope. If you’re not careful, you could fall into burnout, and even damage your health. If you want to go after the business owner’s life, you need to have

I’ve listened to many entrepreneurship podcasts that are great tools for building a profitable business. But, I also spent time on many others that didn’t give many helpful tips. These are my favorite podcasts that I think you can learn a lot from.  What Makes a Great Entrepreneurship Podcast? From my experience, these are the key points that make a great podcast worth listening to. Content Actionable advice and not just inspiration – concrete steps listeners can take to improve their businesses. Many perspectives from entrepreneurs with different backgrounds who have built successful businesses in all kinds of industries. This is so you get a well-rounded view. A balance of stories that talk about struggles, too, not just successes. This is so you get to see the realities of the entrepreneurship journey. Deep conversations that go beyond the surface-level discussions that you get in most interviews. You want deep dives into the guest’s journey and thought process along the way. A focus on specific topics so you really get to drill down into the areas of entrepreneurship and not just general information. You want real tips on marketing, funding, building a team, etc. Production High-quality audio so you get a clear, crisp sound that’s free from background noise and technical issues. Also well-edited audio that removes unnecessary pauses or rambling. This tells you they’re professional and helps everyone concentrate better because they have a smooth listening experience. Engaging hosts who are real people with the talent for keeping the conversation flowing and asking insightful questions. This gives you a ton of value. Show notes and transcripts that you can copy key points from for your own notes, and any links or other resources they dropped for listeners. Overall Experience Look for entrepreneurship podcasts that have a consistent release schedule across all the major platforms. If they have their own website, that’s even better. This makes it easy for you to get them into your tight schedule. It also shows that the hosts are serious about getting their content out to you. Check if the podcast or hosts have an active community. This is a great place to  connect with the creators and other listeners for possible collaborations. Top Entrepreneurship Podcasts for Learning and Inspiration I suggest looking into these award-winning and consistently recognized entrepreneurship podcasts. Business Wars Business Wars focuses on the drama behind the scenes of major corporations. They talk about rivalries between iconic companies and the strategies that drive success. The host, David Brown, is a veteran journalist with a background in business reporting. He guides listeners through the history, key players, and turning points that defined the competition.  Masters of Scale Reid Hoffman, the co-founder of LinkedIn, hosts Masters of Scale. This business podcast invites leaders from different industries to talk about their stories of scaling businesses. It dives deep into the world of entrepreneurship with a core focus on exploring unconventional theories. It aims to demystify how companies grow from startups to global brands. Former Fast Company editor-in-chief Bob Safian also comes on to do the Rapid Response format content. This one tackles current events and crisis situations in the business world. The Diary of a CEO This show features unfiltered struggles, lessons, and entrepreneurial insights from leaders, thinkers, and influencers​​. Host Steven Bartlett is a young entrepreneur who brings a unique perspective to the conversations. His guests are a wide range of high achievers sharing untold stories that include insights on personal growth. This brings added value to the business focus with topics like motivation, resilience, and navigating success. Side Hustle School The Side Hustle School podcast is all about ideas and strategies for starting a side business​​. It’s mainly for people with full-time jobs who want to learn how to bring in extra money. I suggest this podcast if you don’t necessarily want to quit your day job right away. It helps people get a chance to explore a passion project or opportunities for more financial freedom.  Host Chris Guillebeau interviews people for their real-life challenges and success stories launching side hustles. He covers a lot of different side hustle ideas like freelancing, creative pursuits, and online business. Decoder Decoder is a podcast by The Verge, hosted by Editor-in-Chief Nilay Patel. It does in-depth interviews with innovators, policymakers, tech developers, and other business leaders. The focus is on the big ideas shaping the future, and the challenges that come along with them. This is one of my favorite entrepreneurship podcasts in the niche that explores how technological advancements influence our lives. Hack the Entrepreneur Hack the Entrepreneur focuses on insights into developing online businesses​​. The host, Jon Nastor, interviews aspiring and current entrepreneurs about the mindset, strategies, and tactics needed to succeed. They look into the less glamorous aspects of entrepreneurship alongside the successes. My favorite aspect of this show is the deep dive into specifics of online business building. They tackle topics like building a sales funnel for digital products and content creation strategies for affiliate marketing. Specialized Podcasts for Niche Interests These are my favorite niche podcasts that I recommend for people in these spaces. The SaaS Podcast This one is specifically for SaaS entrepreneurs, hosted by entrepreneur and SaaS enthusiast Omer Khan​​. It’s all about helping you get through the ever-changing world of Software as a Service (SaaS) businesses. Even if you’re just considering SaaS, this podcast can give you insights into the industry and trends. The core of the show features in-depth interviews with successful SaaS founders. They talk about the details from initial concept to scaling and beyond. Smart Passive Income The Smart Passive Income Podcast, created by Pat Flynn, focuses on helping listeners build online businesses for passive income​​. His goal is to teach people how to create multiple income streams for more financial freedom and flexibility in their lives. I like this podcast for people especially who want to monetize their passions. Of course, a wide range of entrepreneurs can benefit from all the great tips.