People often talk about spirals that descend downwards, but we often forget that spirals can go upwards too. In today’s episode, James Clarke and I talk about some of the ways to propel our credibility into an upward spiral. James Clarke is the managing partner of...
This is Entrepreneurs of Faith, a Sunday episode of Monetization Nation. I’m Nathan Gwilliam, your host. Today, we’re talking about a better way to apologize that can show we really mean it and help restore relationships. “The art of a sincere and heartfelt...
Are you a great problem solver? Great entrepreneurs are often great problem solvers. They find a way to overcome the challenges and problems they constantly face and to get it done and make it happen. In today’s episode, I’m going to tell you a story about the...
Mckinsey Global Institute found that data-driven organizations are 23 times more likely to acquire customers, six times more likely to retain customers, and 19 times more likely to be profitable. Charles Davis is a data analytics expert. He is Vice President and a...
86% of consumers suffer from banner blindness. This means that they consciously or subconsciously ignore information that looks like an advertising banner, even if it contains the information they are looking for (Infolinks). Furthermore, a study on adblocker usage...
Recurring revenue models can provide our businesses with many benefits. “The recurring revenue model is the model most commonly used by businesses because it is predictable and it assures the company’s source of revenue as ongoing.” (Source:...
I’ve seen numerous business ventures fail when they build metaphorical “skyscrapers” on “land” or platforms they don’t own. This happens when a business relies too much on a platform they don’t control like Google or Facebook and then the platform changes something...
What is your greatest pet peeve as a manager? In this episode, I’m going to share my greatest pet peeve as a manager, and I’m going to share with you the story that I tell my team to help them understand our culture, what we expect from great team members, and what...
This is Entrepreneurs of Faith, a Sunday episode of Monetization Nation. I’m Nathan Gwilliam, your host. Today, we’re talking about how to forgive.
“Leave it Alone”
There was a man named John who was deeply in love with his wife, and they were expecting their first child. The night the baby was to be born, there were complications. The only doctor was somewhere in the countryside tending to the sick. After many hours of labor, the condition of the mother-to-be became desperate. Finally, the doctor was located. In the emergency, he acted quickly and soon had things in order. The baby was born and the crisis, it appeared, was over.
Some days later, the young mother died from the very infection the doctor had been treating at another home that night. John’s world was shattered.
As the weeks wore on, his grief festered. “That doctor should not be allowed to practice,” he would say. “He brought that infection to my wife. If he had been careful, she would be alive today.” He thought of little else, and in his bitterness, he became threatening. Today, no doubt, he would have been pressed by many others to file a malpractice suit.
"Personal relationships are the fertile soil from which all advancement, all success, all achievement in real life grows." -Ben Stein, American writer, lawyer, actor, comedian, and political and economic commentator
Relationships aren’t just important in our personal lives. 85% of positions are filled through networking, and 70% of people found a job through connections in a company (Source: review42.com). So how do we build strong relationships in our business?
Craig Earnshaw started off as the founder of LifeLink. He sold the company in 2004 and currently works as a startup investor. He is also currently a professor of entrepreneurship at Brigham Young University in Provo, UT, specializing in teaching IT entrepreneurship.
In this episode, Craig and I will discuss the secrets of successful business relationships.
Whether it’s starting a business or investing in stocks, our endeavors often come with risks. According to the U.S. Bureau of Labor Statistics (BLS), approximately 20% of new businesses fail during the first two years of being open, 45% fail during the first five years, and 65% during the first 10 years. And as much as 90% of people lose their money in stock markets (Source: Research & Ranking).
These statistics may be discouraging, but risks can yield a big reward too. For example, when Whole Foods Market was created in the 1980s the United States had less than six natural food stores. There wasn’t evidence that there was a large market for natural and organic food. Despite its rocky start, Whole Foods was able to become the industry-leading grocery-store chain for healthy food (Source: Washington State University). Whole Foods Market now operates 472 stores worldwide with a net income of $245 million (Source: Statista).
“The biggest risk is not taking any risk... In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” -Mark Zuckerberg, CEO of Facebook
Justin Hatch has taken some risks in his career. Some of them have panned out while others didn’t. However, in both failure and success, he learned from the chances he took, and he used the lessons he learned to create a successful business that helps others understand their endeavors and calculate their risks.
“What new technology does is create new opportunities to do a job that customers want done.” -Tim O’Reilly, founder of O'Reilly Media
Technology has created a new type of venture, digital ventures. As the internet and technology become more and more part of our lives it is essential that businesses take advantage of them. Brad Pace has been a part of 8 successful digital ventures that we discuss in today’s episode.
Brad Pace is a former business partner of mine. We were partners in SocialNexus, where we did a lot of work creating digital ventures with Brazilian companies. He has also worked on many other successful digital ventures, including Ancestry.com, MyFamily.com, About.com, Finicity, World Vital Records, and more. He is currently the president of TeamDial.
In the early days of Eric Farr’s company BrainStorm, Inc. a client came to them about a problem with an order. Their client needed the order for a training meeting the next Monday and Eric’s company promised they would have the order in their European office in time for the training. Later the BrainStorm team discovered that the only way they’d be able to get the order to the client in time was to fly there themselves, bringing the order with them.
Eric, the company CEO, bought a last-minute flight on the Friday morning before the training with almost too many layovers to count. Eventually, he and the order ended up in Scotland, where the client was. He delivered the order and stayed in Scotland with the client for about two hours before flying back to the United States.
Bill Crawford owns an amazing pizza restaurant named Righteous Slice, which makes some of the best pizza I’ve ever had. When entrepreneurs own a business like the one Bill Crawford owns it is important to have loyal customers. The probability of selling to an existing customer is 60-70%, while the probability of selling to a new prospect is only 5-20% (Source: Markinblog). In this episode, we discuss some of the ways Bill has developed a strong base of loyal customers.
Bill Crawford graduated from Harvard with his MBA. He is a former Air Force fighter pilot and stealth bomber pilot. He’s a professor of entrepreneurship, and he just may be the coolest pizza restaurant owner ever.
Meet Cydni Tetro Cydni Tetro is a highly successful entrepreneur and digital monetizer. The art of storytelling and how to apply it for business growth and market leadership is woven through her career. She led technology commercialization at Disney and helped...
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