I recently reflected on the differences that I experienced from moving from a larger company to a startup environment. To be honest, there are a lot of areas that overlap and do not change, but there are two major differences:

1.Wearing a lot of hats

Every employee needs to learn how everything works in a business and execute on a variety of projects outside their expertise. Which is typically very different from a corporate entity where you specialize in one targeted area. This is great for an individual that likes to be constantly busy, but it also makes things incredibly tough to prioritize and do well.

2.No red tape

No red tape in an organization has a lot of positives and some cons as well. The positives are that a company can move incredibly fast. Going from ideation to execution is not slowed down by organization rules and regulations.

The negative of this work style is that most projects have little direction or guidelines. This commonly leads to the constant change in messaging or moving forward with plans that are not thoroughly thought through.

To help with these changes of culture, I have created 3 startup takeaways that help in managing your time, think through projects, and prioritizing your activities:

The first idea is usually not the best idea, but the one you are most attached to.

Back when I was is entrepreneurship class, we were broken into groups of 3 to create business concepts.

In the brainstorming of what our company would do, everyone said something that was prevalent to their profession. Engineers talked about mechanical parts, marketers talked about software automation, etc..

Although through the brainstorming one trend always remained, each person went back to their original idea and then tried to defend its weaknesses or boast about its strengths.

The same applies to an actual business. People throw out their ideas and they are emotionally attached to those ideas, making those that disagree with those ideas (because we are all stubborn):

a. People that don’t understand it correctly

b. Dumb

c. People that have a personal vendetta against you

 

The truth is, the mentality that your idea is the best is a common way of thinking. When you throw an idea out, it has a part of you with it and it is easy to be offended when people don’t agree.

By understanding that your first idea is most likely your worst. It allows for a couple of benefits:

a. You collaborate better with coworkers

b. You make better decisions

c. It allows you to build off ideas instead of defending them

 

Automate the things that are repetitive, and that you do not enjoy.

This take away is rather obvious. If you are doing something over and over, look for ways to automate it. This also applies to things that you do not enjoy. Let me explain why:

One thing I have never been good at is Accounting.

I have taken numerous accounting classes through undergrad and graduate school. I am still awful.

Why am I bad at it? Yes, it is confusing for me (like really why are there so many buckets!). But I have understood a lot of other confusing topics in the past that I have become good at.

The real underlying issue is that I do not care about Accounting, I will continue to do the bare minimum in accounting because it is something that I never enjoy or pride myself in being good at.

If I did it for a living – my work would be riddled with errors.

That is why I am NOT in accounting.

The same applies to your tasks. If you do not enjoy something, most likely you are not good at it. Therefore you should look for ways to automate these items as it most likely will not lower your performance, in fact, it might improve it.

These could be everything from social media posting, content creation, design, and of course accounting. Continue to look for ways to outsource or automate these areas to free up time and increase performance.

 

Understand the opportunity cost!

In business, we tend to look a lot at the physical costs – the costs like rent, advertising, software programs, etc.

People rarely look at the actual cost of labor. Just because someone is a salaried employee, it does not mean there is not an hourly cost to their time.

To quickly estimate someone’s hourly rate simply remove 3 zeros and divide in half (ex. 80k employee = $40/hr)

By understanding this, you know that a meeting with 10, 80k employees at a minimum must generate $400 in profit to be productive.

In a small startup, a salary may sound like a luxury and therefore people believe these costs do not exist – but they are just less monetary.

Time spent on one item means not spending it elsewhere.

Instead of looking at your monetary cost, think about your current activity. Is it the most productive and revenue-driving thing you could be doing at this time? If not, then your cost is what you could be making in a different activity.

These three items undoubtedly can be applied to any size of business or department. Is there another one that you follow? If so leave it in the comments below.

 


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I have come to the conclusion that I love to build things. It is what drives me. Something about building anything, whether a brand, campaigns, blogs, or actual items, I absolutely love it! I am not sure if it is because I am so proud of being behind the creation of something or just the idea of physically seeing progress but either way…

Because of this passion, I have found myself building multiple things, lots of things, at once.

As you can imagine doing everything at once can add up quickly and become overwhelming.

In the last 3 months in my house alone I have torn down walls and started to add a bathroom, in the basement I have remodeled and added new rooms, and in my backyard I have destroyed a deck and replaced gutters.

I know, I have a problem.. and from my coworkers mouths, “I need to get a life.”

I would be lying if I told you that it wasn’t overwhelming and extremely frustrating creating and maintaining so many projects at once.

But oddly, I have found ways to maximize my time. Most of the projects I create have shared resources that allow me to power through entirely different projects at the same time.

For instance, removing my rotted deck. The demolition from the interior projects was being picked up and there was room for more debris.

And when you give me a saw and an impact wrench, anything comes down in a couple hours.

The same applies to my marketing campaigns. Sometimes I see how some marketing activities open doors to completely different marketing channels that are typically ignored.

To maximize your resources, you need to look for ways that allow you to accomplish more with less resources.

Take for example buying a sales list. The obvious option is to hand it off to your sales reps (which may be just handing it to yourself) and  call and email everyone.

Now this tactic may drive business… But is it the most optimal?

Most certainly not – You are fighting against a lot of variables from gatekeepers, bounce rates due to bad data, and extravagant firewalls.

A low percentage of the list you obtained will truly notice your message or have an understanding of the product you are offering and the need you satisfy.

Oddly, in this same resource you paid for is also a key to a variety of resources that typically go unnoticed and un-executed on.

Such as company name, this in conjunction with their web URL (which is in their email) can become an accounts list in LinkedIn. Allowing your business on top of calls and email, increase reach an leads using targeted content on LinkedIn or even InMails that can always bypass firewalls.

Or even better yet – look for roles in the same company that would be working with the contact you were originally planning to email. (Account Based Marketing-ABM)

Also, using these same emails, you can upload them to LinkedIn, Facebook, and Google to match your audience -doing a variety of campaigns to further increase your frequency and reach of the list you purchased.

Now as I have stated in previous blog, there is always uncertainty in small business. Some of these tactics may not be right for your business, but they do all prove the point that anything with a little creativity can lead to new ways to extend resources.

To help small businesses maximize their resources through lead generation. I have compiled a list of marketing channels that are available to marketers to use, divided by the information they have readily available.


eMail is known

eMail

Google Display

LinkedIn Advertising

Bing Advertising

Facebook Advertising

Twitter Adverting


Company

LinkedIn

Facebook Advertising

Twitter Advertising

Google Display Audience (if employee login available – by creating an affinity aaudience)

Social Media – use their account to grab attention

Direct Mail

Web Behavior

LinkedIn Advertising (retargeting)

Bing (retargeting)

Google Display (retargeting)

Google Display (create an affinity audience)


Industry / Vertical

Buy eMail list

LinkedIn Advertising

Paid Industry Advertising (publishers)

Organic Search

Social Media – Share to industry groups

Google Display – Affinity Target Marketing (publications or popular sites)

Trade Show

Partnerships


Pain Point

Google Ads (keyword search)

Organic Search

Google Display – Creating Audience

LinkedIn Advertising

Paid Industry Advertising

Video Advertising (what tutorial would people be looking for? advertise beforehand)


Technology

Google Ads (keyword search)

Organic Search

Google Display (if cloud based, build affinity audience based on login)

LinkedIn Advertising – Target following / user groups

Builtwith.com or similar for database if target audience uses a tech

YouTube (Video marketing before tutorials)

Share content to User Groups

Trade Show


Persona

LinkedIn

Organic Search

Google Display – Creating Audience

LinkedIn Advertising – Target following / user groups

 

Did I miss some? Let me know in the comments!


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