Growth

16 06 2012

Growing a business takes time. You may come in with a great idea and expect the whole world to immediately jump on board. Don’t be discouraged when things do not go how you expect. Believe in your product and keep working with it. Growing my website has been one grueling process. My plan was to launch a new version of the website in all the cities around my county within a year. The year is up and I am just now launching into my second location. This, however, does not mean my company has not been a success. To grow it takes money and to get money, you need to prove your business.

I launched my first site absolutely free and still some people were hesitant to jump on board. I thought this would be a quick way to get my name out their and get people interested in helping launch Town My Way into another location. I have spent the last year networking like crazy, marketing my product, and reaching out to new businesses even though I knew I wouldn’t make money from that. The hard work has paid off because now I am starting to grow and will be able to launch in a new area.

Be patient and don’t be afraid to work. Starting a business takes hard work and a lot of people won’t see the value in your product at first. It can get easier. Once people recognize your product and brand, it will be a much easier sell. 





Slow Down

3 02 2012

Recently it feels like I have been going a mile a minute. Faced with the pressure of heading back to school on Sunday, I find myself trying to do everything possible to expand my business. Sometimes you just need to remind yourself to slow down and take it one step at a time. I have been trying to cram all my work into three days (filling out applications, scheduling meetings, giving presentations, filing my taxes, drafting a deal for a new acquisition, creating financial projections for the other business, developing a new website, designing a clothing line, etc.). No one has the time or energy to do a quality job with all these tasks at once. You can’t rush success!

No matter how many great ideas you have floating around in your head, nothing will happen overnight so you are better off doing things right rather than rushing into things you may not be so sure about. Evaluate all the costs and benefits of your actions and see if it fits into your plan. You can’t neglect the core of your business to try and add other projects to the list. Master your business and other opportunities will come. It is great to have a vision for what you want your business to become, but that vision takes time. Slow down and enjoy the ride.





Crain’s Detroit Business 20 in their 20s

31 01 2012

Yesterday could not have gotten any better. Not only did we sell advertising space on Town My Way but also I was in discussions with acquiring a franchise license that will fit right in with our current company. Six months ago I would never have thought I would be able to take on another project while running Town My Way but by keeping my head up I can see the benefit of adding a new wrinkle to our model. Its time to scratch the old business model and create a new one.

Always look for opportunity and when it is there seize it. You can never expect things to happen because it is your job to make things happen. If you never look for change or something new it will drive you crazy. Your company will become stagnant and it will feel like you are going no where. Keep things fresh and come up with ideas for the future. Even if they are only possibilities and may never happen, it at least gets you thinking.

On top of all this excitement I received an email congratulating me on being nominated for Crain’s Detroit Business 20 in their 20s. This is a huge honor. Some of my biggest mentors have been received this status including Dan Gilbert and Josh Linkner who I had the pleasure of working under this previous summer. I may be the youngest candidate in the field being only 20, but I have Dan and Josh to thank for the opportunities I have been given and the success I have enjoyed. Working at Detroit Venture Partners inspired me to start my own business and help my community. All this excitement has brought on extra work but times like this really make you appreciate the journey. I will continue to work and continue to strive for success. I appreciate all the support and help along the way because none of this would have been possible alone.





25 01 2012

Use frustration to your advantage because there is no sense in letting anger take over. Find what you are actually working for. When things are going good we tend to overlook some of the negative sides of our business model. When we get frustrated we are forced to reevaluate our model and determine what is essential for survival. What makes your business go and what are you building around?





10 Lessons Learned On When To Change Your Game by Jason Goldberg (via frank’s blog)

4 08 2011

The biggest mistake an entrepreneur can make is not listening to their customers. The whole reason you are in business in the first place is to provide them with a good or a service. Why not listen to what they have to say and find out what they want? For a business to be successful, you have to go through change. No company can stand still and finish ahead. Get to know your customers, find out what is important to them, and request feedback. Make your product something they cannot turn down.

A leader is not a leader without followers. Embrace your followers and learn from them. Be open to change because at some point it has to happen. Do it the right way the first time, rather than closing off the world and creating something that no one wants. It is an exciting journey and you have the opportunity to change the world. If something isn’t working, fix it. Find something better and come up with solutions. Don’t ignore your customers or think any problem is too small.

Every day make a list of goals for how you can move your company forward. Don’t fall into the trap of writing down the same goals every single day. Find new goals and ways to improve. Take little steps everyday to improve the company and before you know it you have built something great. It takes small steps and open ears, but with passion and persistence you can achieve these goals.

by Jason Goldberg, serial entrepreneur and CEO of Fab.com (via venturebeat)   All of the steps that lay behind our decision to transform Fab were rooted in the lessons learned over seven years in the startup world. Here, based on our experience, are the top 10 reasons to alter course. If you can’t get traction after one year, switch gears and work on something different. Particularly if you’re building a consumer e-business, you can tell pre … Read More

via frank's blog