3 Keys to Success: Provide Value to Your Network

Over social media, opportunities to connect with influential people have never been easier. Often, we see ourselves only an introduction or email away from opening new relationships. There are no boundaries or limits in this modern era of networking.

But building an invaluable network takes time and effort. It helps to build a strong reputation for yourself. You may not realize it, but if you are constantly asking too much from the people in your network, you can make yourself out to look Machiavellian.

It’s important to know how to add value to the people around you. 

When providing value to your network you can see the positives within you and the company around you. Start offering something for free to people such as introductions, ideas to improve on the projects they are working on, and a simple “hello." Your network should start to acknowledge you as a resource, connector and trusted source.

Below are three keys to providing value to your network:

1. Give

At the center of fueling your network, it’s beneficial to focus on giving and helping other people. By doing this, you are building a stronger foundation for the people around you, and developing meaningful and authentic relationships.

There is no better reward than you connecting two people together who can add value to each other's lives and businesses. When you give to your network, it's important to not expect anything in return. When passionately helping others, your network will likely be influenced to do the same for you.

2. Offer to teach.

One of the most impactful ways to help those around you is to offer some form of teaching. Perhaps like mentoring, offer to help influence an individual's mindset and bring the person closer to his or her goals.

Try reaching out to your blog following or your Facebook friends and alert potential mentees about your interest in teaching an area of your expertise. There is never a shortage of individuals looking for mentorship in some form or capacity.

Sure, we all have busy schedules, but taking the time to help educate someone in your network in a special category can benefit you in the long run. It shows you are investing in others around you.

3. Build an empire of contribution.

Your network should never be viewed as the hoarding of contacts with you reaping all the benefits. When you become the immediate source of contribution, your value rises immediately.

View this as the power of building a strong community. It outweighs quality over quantity.

Support your own success by creating a way for the people around you to be successful as well. You never know how the individuals you helped will contribute to your life -- personally or professionally.

The end goal when building an "empire of contribution" is to be in service, so act as the connector or the creator for others. Connecting two individuals in your community should take only a limited amount of time from your schedule, but can help build someone’s business and create a lasting relationship as a trusted resource for you, with others.

More than anything, the joy you will receive through being in service to others, from my experience, is the ultimate form of accomplishment and happiness.

THE 16 PERSONALITY TYPES: THE REAL ONE IN YOU

Standard

High-Level Description of the Sixteen Personality Types

From Web:

Do a free personality test by clicking here and it will guide you to know about the personality profile of you…

ISTJ – The Duty Fulfiller

Serious and quiet, interested in security and peaceful living. Extremely thorough, responsible, and dependable. Well-developed powers of concentration. Usually interested in supporting and promoting traditions and establishments. Well-organized and hard working, they work steadily towards identified goals. They can usually accomplish any task once they have set their mind to it.

Click here for a detailed description of ISTJ.

ISTP – The Mechanic

Quiet and reserved, interested in how and why things work. Excellent skills with mechanical things. Risk-takers who they live for the moment. Usually interested in and talented at extreme sports. Uncomplicated in their desires. Loyal to their peers and to their internal value systems, but not overly concerned with respecting laws and rules if they get in the way of getting something done. Detached and analytical, they excel at finding solutions to practical problems.

Click here for a detailed description of ISTP.

ISFJ – The Nurturer

Quiet, kind, and conscientious. Can be depended on to follow through. Usually puts the needs of others above their own needs. Stable and practical, they value security and traditions. Well-developed sense of space and function. Rich inner world of observations about people. Extremely perceptive of other’s feelings. Interested in serving others.

Click here for a detailed description of ISFJ.

ISFP – The Artist

Quiet, serious, sensitive and kind. Do not like conflict, and not likely to do things which may generate conflict. Loyal and faithful. Extremely well-developed senses, and aesthetic appreciation for beauty. Not interested in leading or controlling others. Flexible and open-minded. Likely to be original and creative. Enjoy the present moment.

Click here for a detailed description of ISFP.

INFJ – The Protector

Quietly forceful, original, and sensitive. Tend to stick to things until they are done. Extremely intuitive about people, and concerned for their feelings. Well-developed value systems which they strictly adhere to. Well-respected for their perserverence in doing the right thing. Likely to be individualistic, rather than leading or following.

Click here for a detailed description of INFJ.

INFP – The Idealist

Quiet, reflective, and idealistic. Interested in serving humanity. Well-developed value system, which they strive to live in accordance with. Extremely loyal. Adaptable and laid-back unless a strongly-held value is threatened. Usually talented writers. Mentally quick, and able to see possibilities. Interested in understanding and helping people.

Click here for a detailed description of INFP.

INTJ – The Scientist

Independent, original, analytical, and determined. Have an exceptional ability to turn theories into solid plans of action. Highly value knowledge, competence, and structure. Driven to derive meaning from their visions. Long-range thinkers. Have very high standards for their performance, and the performance of others. Natural leaders, but will follow if they trust existing leaders.

Click here for a detailed description of INTJ.

INTP – The Thinker

Logical, original, creative thinkers. Can become very excited about theories and ideas. Exceptionally capable and driven to turn theories into clear understandings. Highly value knowledge, competence and logic. Quiet and reserved, hard to get to know well. Individualistic, having no interest in leading or following others.

Click here for a detailed description of INTP.

ESTP – The Doer

Friendly, adaptable, action-oriented. “Doers” who are focused on immediate results. Living in the here-and-now, they’re risk-takers who live fast-paced lifestyles. Impatient with long explanations. Extremely loyal to their peers, but not usually respectful of laws and rules if they get in the way of getting things done. Great people skills.

Click here for a detailed description of ESTP.

ESTJ – The Guardian

Practical, traditional, and organized. Likely to be athletic. Not interested in theory or abstraction unless they see the practical application. Have clear visions of the way things should be. Loyal and hard-working. Like to be in charge. Exceptionally capable in organizing and running activities. “Good citizens” who value security and peaceful living.

Click here for a detailed description of ESTJ.

ESFP – The Performer

People-oriented and fun-loving, they make things more fun for others by their enjoyment. Living for the moment, they love new experiences. They dislike theory and impersonal analysis. Interested in serving others. Likely to be the center of attention in social situations. Well-developed common sense and practical ability.

Click here for a detailed description of ESFP.

ESFJ – The Caregiver

Warm-hearted, popular, and conscientious. Tend to put the needs of others over their own needs. Feel strong sense of responsibility and duty. Value traditions and security. Interested in serving others. Need positive reinforcement to feel good about themselves. Well-developed sense of space and function.

Click here for a detailed description of ESFJ.

ENFP – The Inspirer

Enthusiastic, idealistic, and creative. Able to do almost anything that interests them. Great people skills. Need to live life in accordance with their inner values. Excited by new ideas, but bored with details. Open-minded and flexible, with a broad range of interests and abilities.

Click here for a detailed description of ENFP.

ENFJ – The Giver

Popular and sensitive, with outstanding people skills. Externally focused, with real concern for how others think and feel. Usually dislike being alone. They see everything from the human angle, and dislike impersonal analysis. Very effective at managing people issues, and leading group discussions. Interested in serving others, and probably place the needs of others over their own needs.

Click here for a detailed description of ENFJ.

ENTP – The Visionary

Creative, resourceful, and intellectually quick. Good at a broad range of things. Enjoy debating issues, and may be into “one-up-manship”. They get very excited about new ideas and projects, but may neglect the more routine aspects of life. Generally outspoken and assertive. They enjoy people and are stimulating company. Excellent ability to understand concepts and apply logic to find solutions.

Click here for a detailed description of ENTP.

ENTJ – The Executive

Assertive and outspoken – they are driven to lead. Excellent ability to understand difficult organizational problems and create solid solutions. Intelligent and well-informed, they usually excel at public speaking. They value knowledge and competence, and usually have little patience with inefficiency or disorganization.

Click here for a detailed description of ENTJ.

By,

Abin c Pascal
Asst. Manager Consulting
Bramma Learning Solutions Pvt Ltd
Mob: 9496695346 / 0484-2705535
Blog: abincpascal.wordpress.com

10 Questions to Ask Before Determining Your Target Market

The better you understand your customer, the faster your business will grow. But new ventures often struggle to define their target market and set their sights too broadly.

"We often overestimate the market size, and in many cases there may not be one at all," says Robert Hisrich, director of the Walker Center for Global Entrepreneurship at the Thunderbird School of Global Management in Glendale, Ariz.

Here are 10 questions that can help you determine whether you have a target market and what it is:

1) Who would pay for my product or service?

First, try to understand the problem that your product or service can solve, says Greg Habstritt, founder of SimpleWealth.com, an Alberta, Canada-based advice website for small-business owners. Then, use that information to help determine who would be willing to pay for a solution. "Not only do [your potential customers] need to have the problem, but they need to be aware they have the problem," Habstritt says. He recommends using Google's keyword tool to see how many people are searching for words related to your business idea.

2) Who has already bought from me?

To refine both your target marketing and your pricing strategy, see who has already bought your product or service, says Amos Adler, president of Memotext, a medication compliance app maker in Bethesda, Md. You can gain valuable insights by releasing the product in a test phase and letting potential consumers speak with their wallets.

3) Am I overestimating my reach?

It's easy to assume that most people will need your service or product. But rather than make assumptions, reach out to groups of potential customers to get a more realistic picture of your audience and narrow your marketing efforts. You can conduct surveys, do man-on-the-street type interviews in stores, or organize small focus groups. "We get so passionate about the idea and how good it is that we overestimate the market size," Hisrich says.

4) What does my network think?

As you try to understand your target market, it may be challenging -- and expensive -- to seek feedback from potential consumers through surveys, focus groups and other means. But you can tap into your social networks to get free feedback. Many people in your extended network will likely be willing to take the time to give you opinions and advice, says Bryan Darr, founder of Mosaik Solutions, a data analytics company in Memphis, Tenn.

5) Am I making assumptions based on my personal knowledge and experience?

Your own personal experience and knowledge can make you believe that you understand your target market even before you conduct any research, Habstritt says. For example, if you're a fitness buff and want to start a business related to personal health, you may assume you know your customer. "Don't assume that you can think like your target market," Habstritt says. "You have to ask them and talk to them to really understand them."

6) What's my revenue model?

Figuring out how you'll reap revenue can help you find your target market, Hisrich says. Social ventures can be particularly tricky, he says, because without a specific plan for getting revenue it's easy to overestimate the size of the customer base. But if you're revenue model is simply selling a product online, it can be easier to figure out a target customer.

7) How will I sell my product or service?

Your retailing strategy can help determine your target market, Hisrich says. Will you have a store, a website or both? Will you be marketing only in your home country or globally? For example, an online-only business may have a younger customer than one with stores. A brick-and-mortar business may narrow your target market to people in the neighborhood.

8) How did my competitors get started?

Evaluating the competition's marketing strategy can help you define your own target customer, says Darr. But of course, don't simply copy the marketing approach of your biggest competitors once you define your target consumers. "You must have a way of differentiating what you are doing from what the other guys offer," he says.

9)How will I find my customers?

As you start defining your target customers, try to determine whether you can efficiently market to them. You'll need to do some market research and study your target audience's demographic, geographic and purchasing patterns. If you're selling from a storefront, you need to know how many people in your target market live nearby. If you're selling from a website, you need to learn about your prospective customers' online behavior. Understanding how to locate your customers early on can help you establish a game plan once you start building a marketing strategy, Hisrich says.

10) Is there room to expand my target market?

Be prepared to redefine your target market or to expand it over time, Darr says. For example, figuring out whether you're targeting a domestic consumer or customers throughout the world can be a good start. As the power of mobile mapping has grown in the last decade, he's seen the number of target markets grow at his own firm. In the beginning, Mosaik dealt mostly with wireless operators, but now he also counts cable providers and broadcasters as clients, Darr says. 

10 Tips to Turn Your Startup Dream Into a Reality

Every entrepreneurial venture starts with a good idea, evolves to a bunch of amazing ideas, and with any luck, ends up as a successful business.

But how do you move from that first idea to your final success? In our book, Small Business, BIG Vision, my brother and I talk a lot about this. We discuss how having a big vision is so important, but that it doesn't mean anything if nothing comes of it.

Here are 10 steps to move your dreams into reality:

1. Define the difference- You need to be clear about how your product is unlike other competitors.

Suppose your dream involves a new type of social media that lets you create online collections of visuals that people can share. Are you talking about Pinterest? Slideshare? Instagram? You need to set yourself apart. If your idea is not clearly defined, people may have a "been there, done that" view of it.

2. Look for the problem-need-want your idea solves- Will it shorten the time it takes to do something? Does it make it easier to find something? Can it make something more exciting or more functional? If your product or service doesn't address an identifiable problem, need or want, why would anyone spend money on it?

3. Use clear, strong words- This is not the time to say, "It's kinda like this...." Find the exact right words and avoid jargon. Instead, focus on a description that can fire the imagination. If you can't get people excited about your idea, it's not going to go anywhere beyond your head.

4. Do your homework- Are you the first with this idea, or will you have competition? Research online, visit conferences in your industry, talk to experts and search for mentors. Do your due diligence now. You don't want to discover that someone else got there first after you invest valuable time and money.

5. Do your homework again-  Even if no one else has your idea, someone may have another plan to solve the same issue your idea addresses. Look at any tangential businesses that may usurp your potential customer. You can do this determining and analyzing your competition. Think of this to help you: What might people spend their money or time on instead of your product or service?

6. Define your customer base-  If you say "everyone," you're just being lazy and you're kidding yourself. Who are your product or service's early adopters? Will people choose your idea over something they already spend time and money on, or will they decide this is a brand new way to spend time and money? Which people will really, really want what you have to offer, and who will have to be educated or talked into it?

7. Determine your resource requirements-  What exactly do you need to get started? Can you build it in your basement using standard tools and materials? Does everything depend on a website that distributes the service? Can you handle the startup alone or do you need a team? And if so, a team that includes who? How much money do you need to get your idea off the ground? This is not a fast process. Expect to spend a fair amount of time on research, checking with suppliers, and talking with industry experts and specialists.

8. Build a prototype- Yes, this is critical with a product, but just as important if you're offering a service. If you're creating a service, your prototype can be a process map that details customer contact points and what has to happen internally to meet customer needs. A physical prototype should be working and include a clear understanding of function, reliability and production requirements. If you can't actually build a real prototype at least have computer-aided designs with detailed specs.

9. Do the math- No plan is complete without a thorough financial analysis. This includes a realistic and convincing revenue projection and accompanying costs. You should be able to detail the estimated break-even point and future profits. If you need help on this part, get it. A bush-league financial statement can kill even the greatest idea.

10. Write your plan- I'm not talking about the pitch you give potential money people -- I mean your internal plan for taking your dreams all the way to the finish line. You need to have this in place for yourself, so that when you wake up tomorrow you know what to do. It will keep changing, and that's okay. In fact, it's important to maintain flexibility in your plan.

When you take the leap with your big vision, you'll either bounce, crash or fly. But one thing's for sure, you'll never find out if you don't take action. 

Want to Be Successful? Learn How to Manage

There’s nothing more annoying than a manager who doesn’t know how to manage. If you think that doesn’t apply to you, think again. If you’re an entrepreneur, then like it or not, you’re a manager. And there’s a very good chance you have no idea what you’re doing.

That sounds harsh, I know. But that doesn’t make it less true. Besides, we all fit that description at one time or another. Let’s face it; nobody’s born knowing how to manage. And nearly all of us learn on the job, especially entrepreneurs and small business owners.

In case you’re not convinced that you’re a manager, ask yourself: Are you in charge of any people, capital resources, spending, finance or accounting, payroll, purchasing, marketing, sales, customer service, development of products or services, IT or web development?

If you answered yes, then you’re a manager. And, if you own your own company, even if you’re the only one in it, chances are you have responsibility for all those functions. You wear lots of hats and make lots of decisions. So guess what? You’re a manager. That’s what managers do.

And if you think you’re the only one who’s flying blind, think again. You’d be amazed at how poorly most managers manage, even in the corporate world where they should know better. Take this message I got the other day from an old friend of mine:

“I have a rub with my General Manager. I believe I can work with and improve people, but he pushes me to let them go. At the end of the day I will follow his wishes. Am I too soft?”

Now, I have to tell you, these two – my friend and his boss – are managers at a $1 billion high-tech company, and they fail the two most basic management principles:

1. Take responsibility for your function- 

If you have the title, the responsibility and the pay, then manage. Own it. “Yes, you’re too soft,” I told my friend, “But for giving in. You should do what you think is right. Besides, that’s the only way you’re going to find out if your judgment is correct or not.”

2. Don’t micromanage your managers-

 Likewise, the guy’s general manager shouldn’t be pushing him to go against his better judgment. If you’re going to do that, then why make the guy a manager to begin with? Unless, of course, it’s a puppet you want because, if you manage that way, that’s what you’re going to get.

You see, if you coddle your people and don’t allow them to succeed or fail on their own merits, they’ll never learn anything, gain self-confidence or grow as managers. No wonder my friend doesn’t have the guts to stand up to his boss and stick to his guns.

This is a classic dysfunctional management feedback loop. The longer you do it, the more ingrained the behavior becomes. And I bet it doesn’t just happen over this particular type of decision. It’s probably a common dynamic with these two.

Sadly, this sort of thing happens every day in corporate America, from line and middle managers all the way up to C-level execs. It affects all the company’s stakeholders, from employees and customers to shareholders. And the higher up it goes, the better the chances the company will fail.

The most annoying thing about it is that these guys have had years, if not decades, to develop effective management skills. Yet, they still can’t manage for beans. Can you imagine how much more challenging it is for entrepreneurs and small-business owners who never had the opportunity to learn how to manage?

The point is this: Over the course of your business life, you’re going to make thousands of critical management decisions, and the more you get right, the better your chances of being successful. If you want to get anywhere in this world – especially on your own –you won’t get there if you’re flying blind.

Learn how to manage. And don’t ask how. If you can’t figure that out, then you’re probably not management material. And I seriously doubt if you’ll make a very good entrepreneur, either. 

The Art of Effective Feedback

In any given office, you're probably going to hear the word "feedback" dozens of times a day. People are "looking forward to your feedback" or promising to "get you feedback asap." We all know that good feedback is essential to cultivating the behaviors and outcomes we want while correcting those we don't, but what makes some people more effective at feedback than others? There are five key elements of effective feedback.

Integrate-

 Giving feedback should be "a natural part of your workday," says human resources expert Patti Johnson, founder of PeopleResults, an Irving, Texas, consulting firm. Give frequent feedback as you go about your day, recognizing good work or performance while you're in the moment. If you see behavior that needs correcting, pulling aside your employee and doing it on the spot makes it more effective.

"If you wait until a performance review to tell someone they've been doing something wrong for months, you risk losing their trust. They think, 'Why didn't you tell me sooner?'" she says.

Calibrate.-

You have to get to know your people and understand what kind of feedback works for each. Being too detail-laden with some people may make them think you're micromanaging, but not being specific enough may not get your point across. Observe how a gentle redirect works versus a more in-depth discussion. Then, adjust your approach as individually as you can to get the best performance.

Educate-

 Use your feedback as an opportunity to share why you want things done a certain way or why you value some systems or actions over others. Explain how this fits into the bigger organizational goals and how the employee plays an important role, Johnson says. For example, if you are trying to get more employees using your customer relationship management system, explain how their contributions make the data more up-to-date, which leads to better customer service and a more stable, growth-oriented company. When they see how they fit into the process, the feedback becomes more effective, she says.

Escalate-

 If you're giving feedback and it's just not getting through, it's time to take more serious action. If after two or three corrections, an employee's still engaging in poor behavior or performance, it's time to have a sit-down to discuss the issues more specifically. It's also critical to keep your feedback respectful. If you're too upset or angry to do so, walk away and give feedback after you've cooled down, she says.

Motivate-

Feedback should include positive as well as negative commentary, Johnson says. If you're just spewing a barrage of negative criticism, you'll be less effective. Congratulate and give kudos publicly, which makes employees feel good and can also motivate others to better understand the performance for which you're striving.