Archives for October 2018

October
5, 2018

5 min read

While your next great idea could conceivably be born while maneuvering through rush-hour traffic or with your nose in a fellow straphanger’s armpit, breaking out of your routine is a time-honored method for encouraging inspiration to strike. As Tim Ferriss, Richard Branson and many others have found, a change of scenery can help stoke the flames of creativity. Narrowing down precisely where to escape to, however, can be a daunting task.

I recently spent a long weekend in Nassau Paradise Island, which turned out to be not only the perfect place to generally recharge, but, thanks to the wide variety of unique experiences offered, a hotbed for inspiration. (And no, it wasn’t just thanks to the copious rum.)

Related: 21 Ways to Get Inspired (Infographic)

Located on New Providence, the eleventh largest island of the Commonwealth of the Bahamas, Paradise Island is appropriately named. Between the white sand beaches and turquoise blue waters, you’d be hard-pressed to find a more beautiful spot to vacation. It’s also easily accessible, just under 200 miles from Miami, with direct flights from across the country clocking in at three hours or less. English is the official language, and the dollar is accepted, so the island maintains the convenience of a U.S. destination while remaining a true Caribbean experience.

Image credit: SLS Baha Mar

That authenticity is what elevates Paradise Island beyond a simple getaway spot. Unlike cookie-cutter resorts that are indistinguishable from one another, the two best properties on the island — iconic Atlantis and sleek upstart SLS Baha Mar — marry the best of luxury accommodations with true local flavor. With a combination like that, you’ll find it hard not to be inspired.

Related: 3 Important Changes That Can Save Yourself From Burnout

Here are five experiences in Nassau Paradise Island that will set you up for that next great idea.

1. Clear your mind on one of the Caribbean’s best beaches.

Wellness experts champion the idea of getting out into nature as a way to combat burnout, a notion backed by scientific research. Studies have found that witnessing something vast leads to a reduction in stress and an increase in open-mindedness. While a tropical island may seem like the least business-focused place on earth, the open expanses of mind-centering scenery make Paradise Island an ideal place to plot your next move. Cable Beach was our favorite spot to unwind; isolated enough for solitude, but still close to the amenities of the SLS Baha Mar.

2. Step out of your comfort zone at a colorful cluster of seafood restaurants.

Vacations are for trying new things, and when those things include tasty treasures from the sea, all the better. Take a break from resort life and head to Arawak Cay, aka the Fish Fry. Bahamians and visitors alike intermingle at this strip of over 30 stalls, stands and brick-and-mortar restaurants that has been called the “ultimate caribbean feast.”

Image credit: Nassau Paradise Island Promotion Board

Related: 11 Habits of Truly Happy People

Forget the fried shrimp and order up a conch salad, “cracked” fish and a decadent guava duff. (You’ll have to trust me.) Oh, and feel free to stretch out your meal as you stroll in and out of the eateries on offer; the Fish Fry is a place to take it all in and let your brain — and taste buds — wander.

3. Let your hang-ups drift away at Aquaventure, an epic water park.

This is about as far away from the conference room as you can get. Located in the center of the Atlantis’ waterscape development, this 63-acre water world is one of the largest anywhere. Containing a mind-boggling 20 million gallons of water, slides and rivers, Aquaventure seems scientifically engineered to stimulate thought and decrease stress.

Image credit: Nassau Paradise Island Promotion Board

4. See how world-class chefs spin local ingredients into high-end fare.

Oftentimes, a new idea is just a mix of old ideas refreshed in a unique way. In that spirit, the chefs at Paradise Island’s top restaurants combine ingredients and techniques from the island with international culinary techniques. For example, at Chef Nobu Matsuhisa’s famed Nobu restaurant, located in Atlantis, he puts his haute cuisine spin on roasted Bahamian lobster, ceviche and conch plucked fresh from the waters just outside.

5. Get an inside look at a legacy business — and drink some rum.

The founders of John Watling’s rum are sixth-generation members of a rum-producing family, making the complimentary tour of their distillery a fascinating glimpse at a legendary business.

Image credit: Nassau Paradise Island Promotion Board

Related: Habits of the World’s Wealthiest People (Infographic)

Founded in 1789 and overlooking the harbor downtown, this estate is where Bahamians hand-craft John Watling’s small-batch Pale, Amber and Buena Vista rums. And if the sights, sounds and people of an iconic company don’t inspire, there’s always the tasting session. Cheers!

October
3, 2018

10 min read

Opinions expressed by Entrepreneur contributors are their own.

“When the student is ready, the teacher appears,” is a timeless quote. But finding a mentor can be challenging, not to mention finding someone who’s right for your needs, strengths, and shortcomings.

These Advisors in The Oracles share how to find the perfect mentor—and be the exceptional mentee.

Jocko Willink

Image credit: The Oracles

1. Make everyone your mentor.

I have the mindset that everyone I come in contact with is a mentor and I’m going to learn from them every day. I look at those around me who perform their jobs well and are inspiring leaders. I look for those who plan and communicate effectively. Then I emulate what they do well.

I’ve also learned a lot from those who are not good leaders. Maybe they were negative or condescending or didn’t listen to their team. I’ve learned as much from them as from great leaders. So to me, everyone is a mentor. —Jocko Willink, retired U.S. Navy SEAL officer, #1 NYT bestselling author, co-founder of Echelon Front, partner in Origin USA, and host of the top-rated “Jocko Podcast”

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Billy Gene Shaw

Image credit: The Oracles

2. Find someone who’s living your dream.

No matter what challenges you’re facing, you’re not alone. Others have been there and have the answers. Figuring it out on your own is a wasted effort.

Reach out to entrepreneurs who are living your dream. Offer something of value, but don’t shove an idea down their throat. Impress them by demonstrating a skill that can help their business. Build the relationship first. Your other option is to pay for a consultation. It’s expensive, but not as expensive as trying it on your own, making mistakes, and prolonging your success.

Whatever you do, don’t send a Facebook message saying, “I have a game-changing idea. Let’s talk!” I get those all the time, and I ignore them. Lastly, don’t listen to broke people. (Yes, that may include your parents.) —Billy Gene Shaw III, founder and CEO of Billy Gene Is Marketing, one of the world’s top online marketing influencers, educators, and practitioners; follow on Instagram and Facebook

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Cole Hatter

Image credit: The Oracles

3. Earn their attention with kind gestures.

One person can’t be your mentor in everything. First, define your personal standard of excellence. Then identify someone who’s living above that standard in the area you need help.

If you want a long-lasting relationship, find someone with the lasting love you want; not the person who’s been divorced five times because they’ve “done it the most.” In business, learn from the person who’s succeeded in the area you want to accomplish; not the person who’s unemployed but listens to podcasts all day so they “know what they’re talking about.”

Second, get their attention. This is tricky because most people at the top aren’t actively looking for someone to mentor. But with social media, it’s easy to observe those you seek mentorship from to figure their current needs and goals. 

I fostered a friendship and mentorship with a massive influencer because they were doing a book launch. Their goal was to sell as many books as they could, as quickly as possible. I bought 700 copies for my community, filmed a two-minute review of why I liked the book, posted it on Facebook, and paid to boost the video to get a lot of views.

The influencer noticed. I got an email, which turned into a phone call, which turned into a lunch, which has since evolved into a three-year friendship and mentorship. I helped them without expecting anything in return; they noticed and reciprocated. —Cole Hatter, full-time dad and husband, part-time owner of five seven-figure businesses, investor, and founder of Thrive: Make Money Matter; follow Cole on Instagram

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Brian Smith

Image credit: The Oracles

4. Be open to tough love.

Find someone who specializes in your type of business and can support the current stage in your journey. For example, I know product, but not technology. My recommendations depend on where your business is between birth to youth and maturity (stages I explain in my book). Beginners need encouragement not to quit. But in “youth,” money for inventory is often the killer.

Be willing to accept tough love and listen. One mentee asked for help getting into retail, but I told her that would kill her business. Instead, I helped her go into online sales. We raised over $80,000 on Kickstarter, and she did about $3 million on Facebook last year. We just raised another $1.1 million to bring her business to Amazon. —Brian Smith, founder of UGG boots, corporate speaker, and author of “The Birth of a Brand,” now available in audio for its 40th anniversary  

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Natalie Ellis

Image credit: The Oracles

5. Ensure your personalities vibe.

Take advice from those who’ve accomplished what you want, in the way you want to achieve it. They’ll know your struggles inside out.

I’ve found the best mentors through mutual friends. It’s important to see if your personalities vibe. For example, if you struggle with taking direct feedback and your mentor likes to give it, you might end up resenting them.

A mentor needs to see that you’re committed to making progress. If you’re not willing to implement their advice, why would they give you their time? Take action if you agree with the advice. If you don’t agree, don’t commit to action you won’t take; challenge them instead. —Natalie Ellis, award-winning serial entrepreneur and CEO of BossBabe, the world’s largest online community of ambitious women with a six-figure monthly recurring revenue; follow Natalie on Instagram

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Kenny Rueter

Image credit: The Oracles

6. Take an interest and action.

Most people who ask me for mentoring are only interested in their goals. The surefire way to repel a mentor is to believe you’re entitled to one. For me, finding the right mentor begins when I take a genuine, selfless interest in someone I respect. I determine how I can add value to their lives or business. Then I don’t have to ask them to mentor me—they volunteer.

Once you have a mentor, take action. Mentors do what they do to impact others and see their wisdom live on. After all, they earned it through years of challenges. So, nothing is more disheartening than when a mentee asks for advice and avoids taking the recommended action. Your mentor is giving you their two most valuable possessions: their wisdom and time. If you remember that, many people will want to help you. —Kenny Rueter, CEO and co-founder of Kajabi

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Khalil Rafati

Image credit: The Oracles

7. Earn it.

To find a great mentor, you must have something to offer—and not just a great idea. But if you have a great idea and you’re also working two full-time jobs, going to bed early, getting up early, meditating, and exercising, then mentors will appear seemingly out of nowhere.

Be kind to everyone you meet. Guard against negative thoughts. Take a walk each morning and make a walking gratitude list. Say it out loud if you can. Never ask a mentor to invest or give you something. Avoid flattery and always tell the truth. —Khalil Rafati, founder of SunLife Organics, homeless drug addict turned spiritual advisor for rockstars and billionaires; follow Khalil’s adventures on Instagram and read his story: “I Forgot to Die”

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Jeff Sherman

Image credit: The Oracles

8. Do your research, come ready to give, and execute without question.

Don’t invest thousands in an expensive coach with a big name. Find someone who is where you want to be in three to five years. Why? They can still relate to you.

Before approaching a potential mentor, I always invest in their product or service. I want to see if I resonate with the quality of their products or services, team, and customer service. If I do, I sell their products as an affiliate and see what response I get from my followers. Then I ask if I can help with their customer service. This gives you insight into how they do business, and then you can work out a mentor relationship.

As a mentor, I’ve found that ex-military and ex-athletes make the best students. They don’t question anything, they just execute and report back with results. Then we regroup, re-strategize, and move their business forward. —Jeff Sherman, founder and CEO of Tech Sweat LLC; serial entrepreneur who has launched five businesses and impacted over 5,000 fitness businesses in six countries

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Chance Welton

Image credit: The Oracles

9. Look for strengths that complement your weaknesses.

Find a mentor with the business and lifestyle you want. Then ensure they have strengths to complement your weaknesses and can help you fine-tune your strengths. Ensure your values align. Money isn’t everything. Just because they’re financially successful doesn’t mean they’re the right mentor for you.

I met my mentor at a marketing event. He took me under his wing for several reasons. We had similar businesses, so he knew I could implement what he taught me. I’d reached six figures, so he knew I was serious. He also knew I’d listen to everything he recommended. We liked each other and knew that we could work well together. —Chance Welton, founder and CEO of Beachwood Marketing LLC and The Millionaire Middleman Agency Coaching Program

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Shaun Rawls

Image credit: The Oracles

10. Don’t stop until you find ‘the one.’

Think of a mentor as a GPS navigator. A great coach understands your intended destination and helps you find the best route. They don’t judge you for wrong turns along the way. Instead, they simply ask questions that help you self-discover and grow into who you want to become. 

Finding the perfect coach is also like finding your spouse. You likely need to explore different people before finding the “one.” Chemistry is important in any relationship, and mentoring is no exception. If you don’t like your coach, “break up” with them and find another one. Trust your gut. When you find the perfect coach, you’ll know—and your results will prove it! —Shaun Rawls, author, lifelong entrepreneur, founder and CEO of Rawls Consulting

Want to share your insights like those above in a future column? If you’re an experienced entrepreneur, please get in touch here.

Want to suggest a future topic for these entrepreneurs to answer? Email suggestion@theoracles.com, and it’s very possible we’ll make your suggestion the focus of a future article!

Follow The Oracles on Facebook for more articles like this.

October
2, 2018

5 min read

Opinions expressed by Entrepreneur contributors are their own.

°Consumer Confidence Index numbers haven’t been this high prior to a holiday shopping season in 18 years, according to the Conference Board. In this context of high-buying intentions, my location marketing firm Reveal Mobile surveyed 260 small- to medium-business owners and managers to see how they planned to allocate resources to maximize this 2018 holiday shopping season’s potential.

Related: The 6 Musts of a Successful Holiday Marketing Campaign

Here are the key takeaways from what we learned:

Social media will be the winner of holiday ad spend.

° Over 36 percent of respondents indicated that social media marketing would be the priority for their ad budget this season.

° Creating and executing campaigns and finding targeting audiences has become increasingly simple on Facebook and Instagram, and our research reflected this trend.

Digital ads will overpower traditional ones — by a large margin.

° 68 percent of holiday spend among businesses surveyed will go toward digital channels like search engine marketing, digital display ads, Amazon and the aforementioned social media marketing.

° Leading traditional channels indicated in the survey included TV advertising (15 percent), print (14 percent) and radio (3 percent).

° Business owners and their marketing teams will frequently be incorporating geotargeting into their holiday campaigns.

• 84 percent of advertisers acknowledged location-based marketing would have greater importance in their campaigns this season.
• 28 percent of respondents said they would use this tool in every campaign during the holidays, meaning that many marketers will reach consumers by developing target audiences.

Related: Seven Tips for Successful Holiday Marketing Campaigns

Of the digital advertising channels, marketers said they preferred Facebook.

° Facebook was selected by 42 percent of the SMBs surveyed as their primary digital channel for ad spend. This is a very high percentage, considering the backlash and decreased user activity we’ve seen with Facebook this year. However, Facebook’s excellent ease of use and ability to incorporate third-party target audiences kept it as our surveyed SMBs’ No. 1 choice.

° Facebook was followed by Google (28 percent) and Instagram (18 percent), with Amazon at 12 percent. Given that Instagram is owned by Facebook, 59 percent of SMBs said that the two platforms would get the majority of their digital ad spend.

° Marketers tend to increase their ad budget during the holidays, but not as often as you might expect.

• 37 percent of entrepreneurs surveyed indicated that they boost their ad spend during the holidays, but 30 percent said their ad budgets stay the same.
• 8 percent actually stated that their advertising budgets decrease during the holiday season.

Black Friday and Cyber Monday remain important to entrepreneurs. 

° 21 percent of respondents said they allocate their holiday ad spend primarily to reach Black Friday shoppers, while 19 percent indicated they do the same for Cyber Monday. The implication was that the majority of SMB advertisers choose to win consumers over the holiday season, not on a single promotion.

° Business owners might contribute to a strong quarterly performance for Facebook and Google.

° Startups also have the option to take advantage of Instagram’s video advertising capabilities. Check out how the app Hopper utilized a video ad to drive customer growth, as well as 36 other Instagram ad campaign examples here.

What all of this means

While Facebook and Instagram have powerful audience targeting features, they also allow advertisers to create custom audiences from other data sources. These can be their own customer data, or opt-in data sources from third parties. The use of custom audiences also has become important since Facebook announced its elimination of “partner categories,” which officially went into effect on October 1. That program allows the use of audience segments from third parties, integrated directly into Facebook. The loss of this capability means that advertisers now heavily rely on custom audiences.

Entrepreneurs selling products and services directly to consumers should feel comfortable not only using social media for advertising, but also taking advantage of all of the targeting tools available on each platform. As a result, these companies can significantly increase the efficiency of their advertising budget by reaching only those who are most likely to convert this holiday season.

Many business to business (B2B) entrepreneurs should also give consideration to digital advertising as an effective channel. By using Instagram and Facebook’s geotargeting, demographics and custom audience features, it is possible to reach a desired market segment. B2B ads will also stand out among the stream of consumer focused products in their feed.

Related: 6 Holiday Marketing Tips From Twitter’s Head of Content Planning

While not every company will be a fit, and our survey results won’t apply to everyone, there is a clear business case to be made for entrepreneurs to advertise on social media and combine it with geotargeting as the best route to reach their target audience this holiday season.

October
1, 2018

6 min read

Opinions expressed by Entrepreneur contributors are their own.

The spookiest time of year will soon be upon us, and consumers will soon be getting into the Halloween spirit. So, if your small business isn’t celebrating this festive holiday, you’re missing out on a huge opportunity to connect with customers.

Related: Even Basic Witches Will Want These 12 Halloween Meals and Deals

Halloween is a great time for you to get more shoppers to your door or website, by implementing some hauntingly effective marketing ideas. In fact, according to the National Retail Federation, over 35 percent of consumers perform online searches to find Halloween inspiration for costumes, decorating and entertaining; so the holiday is the perfect chance to be discovered by swarms of potential customers.

But if you’re worried your business can’t stand up to the big-box stores that spend millions on their Halloween marketing, don’t worry. This is the perfect time of year to try out some creative and unique marketing ideas that will work for your small business and get people excited to shop with you.

Ready for some scary-good inspiration? Here are five fun Halloween marketing ideas for your small business.

Halloween-ize your products.

If your small business doesn’t sell any Halloween-themed products, you might be scratching your head trying to figure out how to get a boost in revenue this holiday season. But even if your business isn’t spooky in the slightest, you can still Halloween-ize your products or position items in a festive way to bring in those trick-or-treat loving shoppers. For instance, if you own a restaurant, offer up themed specialty desserts or drinks; for retail clothing, display some Halloween costume ideas based on your items.  

As an example, Astro Doughnuts & Fried Chicken advertises Halloween-inspired mini doughnuts, featuring flavors like pumpkin pie and candied apple to get its customers in the spirit.

Image credit: Astro Doughnuts & Fried Chicken Halloween-ized products 

Be sure to let customers know about your new Halloween offerings by posting photos on social media that will tempt and convince them to stop by your store before All Hallows’ Eve comes to an end.

Host an online trick-or-treating promotion.

Boost user engagement and conversions by hosting an online trick-or-treating promotion. By holding a fun, gamified online promotion, you can invite shoppers to participate in your Halloween festivities from the comfort of their own homes; and you’ll make shopping on your website an entertaining and rewarding experience.

Related: 10 Chains Scaring Up Business With Free Food & Other Halloween Deals

New York jeweler Kendra Scott does this well by offering customers the chance to search its website for hidden pumpkins that reveal store discounts.

Image credit: MyEmma Blog description of a Kendra Scott trick or treat promotion  

This trick-or-treat scavenger hunt is a fun idea for shoppers, but you could also send an email marketing campaign where customers have to choose between two secret offers to reveal whether they receive a trick or a treat — meaning a small discount or a larger discount. There are endless ways you can turn your online promotions into more exciting, Halloween experiences to ensure you capture the attention of customers.  

Halloween-ify your online presence.

Add some festive flair to your online presence: Let the Halloween spirit take over your social media accounts, like Facebook and Instagram, by posting Halloween-themed images and messages sure to attract many likes and shares from your Halloween-obsessed followers.

Dogfather & Co., a retail boutique and dog grooming spa, Halloween-ifies its Instagram account with photos of its furry clientele, to get viewers into the Halloween spirit.

Image credit: Dogfather & Co. Halloween Instagram posts 

Also decorate your website for the holiday so that users landing on your home page are filled with festive feelings from your brand. Just make some simple tweaks to your site by, for instance, adding a Halloween-themed image which utilizes a spooky font and festive elements like pumpkins or spiderwebs. Don’t want to hire a graphic designer? You can easily transform your regular website images Halloween using a tool like PicMonkey.

Publish Halloween-themed content.

Drive more holiday shoppers to your website by publishing Halloween-themed content readers will love. According to Demand Metric, content marketing generates approximately three times as many leads as outbound marketing and costs 62 percent less, making it the perfect strategy to boost sales for your small business this season.

Create content for your readers that will help them solve problems and ease their stress during this busy time. Blog post ideas, for instance, could include “Halloween Costume Ideas for Kids,” “DIY Halloween Decor Ideas” or “How to Host an Awesome Halloween Party.” 

HQhair posts a ton of Halloween-themed content for its readers, including posts that not only help readers but suggest products that the company sells.

Image credits: HQhair Halloween blog 

You can also craft content that includes product recommendations from your store that encourage people to buy but aren’t too pushy. Sprinkle in some holiday and buyer keywords throughout your post to make sure it gets seen by consumers who are in the shopping mood. And remember, when you provide useful and entertaining content to your readers, they’ll be more likely to share it with their family and friends, too.

Hold a Halloween costume contest.

Holding a Halloween costume contest is a great way to get people into your brick and mortar business. If you don’t have a physical business, you can hold a costume contest on social media and still get a ton of engagement.  

For example, the Texas theme park Kemah Boardwalk utilized Instagram to hold a Halloween costume contest that gave its followers a chance to win weekly prizes or a grand prize.

Image credit: Kemah Boardwalk Costume Contest  

You can hold a contest that encourages people to submit photos of their Halloween costumes, or even just ask them to share your post or tag their friends for a chance to win a prize. Don’t forget to utilize Halloween-themed hashtags so that you can widen your reach and connect with a bunch of potential new customers this season.

Related: Starbucks, Chipotle and 6 More Food Chains Scare Up Business With Halloween Deals

Over to you

These fun Halloween marketing ideas prove that your small business doesn’t need to spend a fortune to hold an awesome Halloween “party” that delights customers and boosts your revenue. Start planning and scheduling your seasonal marketing campaign as soon as possible so that by the time the most haunting night of the year rolls around, you’ll be able to focus on turning trick-or-treaters into customers — instead of your being frighteningly swamped.