Chasing Tech Trends and Cryptocurrency Fraudsters.
You’ve heard the stories, no doubt; a friend of a friend, or maybe even your cousin (yeah, that one…) bought Bitcoin for pennies a couple of years ago and now they’re rich…like stupid rich… Then you turn on the TV and you see a bunch of twenty-somethings who took all the money, in what little savings they had, and just threw it at the bitcoin machine and BAM! Millionaires. Financial Companies on TV, newspapers or even YOUTUBE channels are recommending anywhere from a gentle toe-dipping to a full on swan-dive into the Crypto-Ocean…the CryptOcean? Or maybe riding the Cryto…CURRENT…cy? Okay, THAT was the last one, for real!
Of course, we all want to make money. We all want to be that person who had the insight, the investment know-how, that “gut-feeling” that paid off big time in the face of all the doubters and nay-sayers! Unfortunately, there are others out there that are literally “banking” on just that. In this video we want to touch on the possible pitfalls of chasing trends and the fraudsters that are waiting to take advantage of those who “get caught up in the nerd hype”.
Now just a quick heads up, we are not putting down cryptocurrencies, Cryptoinvestments or Blockchain, they are amazing databases, decentralized banking opportunities, etc… We just want to give you a little advice from our perspective. And it’s only a perspective, legally speaking, of course… We do not mean to give you financial advise or investment advice, let’s leave that to more qualified people, shall we?
Because of technology, it has never been easier to start and grow a business. Tech is a key tool of business, and especially small business owners need to understand how, what and when to leverage tech. In my own entrepreneurial career, an understanding of technology has been invaluable.
Every business has to use the Web, whether it be a website or a social media presence:
Entrepreneurs need to use these tools. To fully leverage technology though, you need to understand it.
Do Entrepreneurs need to become coders?
Short answer: NO.
… But it wouldn’t hurt!
A friend of mine who runs a successful business (does $2 million/year in sales,) has told me repeatedly, that one of the best things he did, was to learn the basics of web design … specifically, learning HTML and CSS.
His core business has nothing to do with technology, but like so many companies out there, the company website is key to sales and marketing. Understanding the basics of web design allows him to make better business decisions about the website.
Knowing the basics of HTML also makes it easy for him to understand his web developers and web designers … this saves time and money since there is better communication.
Because technology is now a key tool in all business, entrepreneurs have to become entreprenerds if they want to be able to compete in the market. The first step is to become code and Web aware, business owners who have a basic understand on how code works, will have a significant competitive advantage over tech savvyless players.
There are lots of advantages to starting your own home business; you can be your own boss, you can set your own hours and you can decide on the direction of the company.
These benefits are part of the reason why so many people are leaving their full time jobs to become self-employed; every year over half a million Canadians become self-employed, with many of them choosing to run websites and home businesses. But how do you actually build a successful home business? From buying a domain name and setting up a website to learning marketing skills, there are a few essential things that you should do if you want to start a home business that will succeed.
Use surveys to learn more about your business
If you want to start a home business it is likely that you already have an idea; maybe you’ve already built a website for potential customers to check out – but either way it can be useful to use online paid surveys to find out more about what your target audience think about your services or website. This is because it will give you an insight into the mind of your customers, making it easier for you to alter and improve your website so that clients find them more appealing.
One of the main reasons small businesses fail is due to poor marketing – and it is very difficult to have an effective marketing campaign if you don’t have a website. Millions of people use the internet as their main tool to find businesses and companies, so if you don’t have a website you could be missing out on thousands of customers.
However, a standard website probably won’t be enough; there are over 1 billion websites online, so you will need a high quality website if you want yours to stand out among the others.
How to make your website stand out
If you want to make sure that your website stands out it needs to be easy for users to use. This means it should be optimized for all devices, including mobile, and it should have clear and simple navigation links, as well as quick loading times. Today, most websites are ultra fast and slick, so a slow, clunky website will be very off-putting to users. It is also important to have a solid web design that is visually appealing and uncluttered.
Set up social media pages and a social media strategy
Social media is another vital marketing tool for businesses, and it can be a great way to build up extra revenue, so if you haven’t already you should set up business pages on Facebook, Instagram, Twitter and LinkedIn. After all, checking social media is in the top three online activities for Canadians!
However, that isn’t all; you also need a strong social media strategy to help you reach new audiences and engage with customers. Try to aim to post on each website at least a few times a week, and it can be useful to vary your content if you have different target audiences using different platforms. Anyone can build a home business if they put the time and effort in. It is also important to embrace the internet as a marketing tool, as this is the one of the best ways for you to reach new customers without spending too much money.
One day you wake up and decide that you want to start a tech company but you don’t have the cash. So you figure that the easy way to get rich, is to go get some of that juicy VC (venture capital) money. Easy enough … right?
Here are a few facts you should ponder before you decide to jump into this pool:
You have about a 20% chance of making money when starting any new business.
With VC backers, your chances are even less! Learn why below …
VC guys are looking for flipability of startups and NOT viability.
VC guys will very often flip your butt out the door when they decide to. Yes, firing founders is not uncommon!
When you make a deal with VC guys, you are making a Faustian bargain – a deal with the devil.
I am not saying that all VC guys are evil but they are typically motivated by selling out or going public. They don’t make money if you create a nice business that makes $500k/year. Nope, they want the multi billion dollar flip or an IPO, so that they can dump all their shares onto the public.
In a nutshell:
The business of finance and venture capital is one filled with sharks and quick-cash money junkies. Creating long term sustainable value is not the game.
Tech Start-up Mania
We now have a new mini-mania in tech startups. I think too many people watch SharkTank or have watched the movie The Social Network – everyone thinks they can build the next huge tech company. The reality is that Facebook, Instagram and other high-flyers that you hear about, are the lottery ticket winners. The vast majority of companies fail. These are all the startups you’ve never heard about …
VC money = loss of control
One thing you have to be aware of, is that once you bring in outside money, you will lose control – they are the boss.
For me, this has always been unacceptable because I went into business primarily for independence. You will work harder and longer when you own a business but the trade-off is that you will have freedom to get up when you want, to work on WHAT you want – you will have intellectual and mental freedom.
With lots of hard work and a pinch of luck, you may have a few bucks too!
I get a lot of questions from people wanting to build a web based business. I’m not talking about becoming a web designer or a web programmer, I am talking about building a website and then making money off it.
Sometimes, people just want to put up articles and then sell other peoples products (through affiliate programs) other times they simply want to put up a bunch of ads.
The more ambitious want to sell a service or a product. This blog post is going to be about how to do that … in a nutshell.
What do you need to know (and what to do,) to set up a web based business?
Well, before I get into it, I should mention the stay at home mom who contacted me recently. She had an idea for a website and her goal was to generate ad revenue and sell memberships/access to premium content. She was asking a bunch of questions about setting up a forum, an e-commerce system etc …
So the first thing I ask when people come to me with these questions, is if they know anything about building websites? If you don’t know much, you will either:
Need to hire someone.
Or, learn some web skills.
Since this mom in question had no money to pay someone to build her site, she was going to have to learn. Before I get into what you have to learn, when you are a do-it-yourself web entrepreneur, let’s quickly talk about NOT ‘putting the cart before the horse’.