How Successful Entrepreneurs Overcome Self-Doubt Each Day

Diane von Furstenberg is a Belgian fashion designer who has built her namesake company into one of the most recognizable in the world.

Furstenberg has been listed as the world’s 68th most powerful, received an honorary doctorate, and been president of the Council of Fashion Designers of America for years.

Confidence should come easily to someone like this, wouldn’t you think?

But Furstenberg does not see herself this simply. She believes she’s a constant work in progress and says successful people (like herself) probably feel like losers at least once a week.

Furstenberg said she feels self-doubt continually. What does that look like in her life?

“Oh, just, you know. You feel like a loser, you wake up and you doubt. So my trick is, I look in the mirror and say, “If you doubt your power, then you give power to your doubts.”

Squash Doubt to Bring Your Best Work to Life

Can you relate to Furstenberg?

You’re not alone. Even successful business owners grapple with self-doubt. Sometimes this can be a good thing, keeping you humble and helping you soberly evaluate limitations.

But for the most part, self-doubt is a form of sabotage that keeps you from fulfilling your potential. Successful people aren’t immune to uncertainty, but they refuse to let it derail their goals. Want to overcome doubt and achieve what you’ve set out to accomplish?

Here are several ways to combat that accusing voice:

1. Stop and Reset

When inner doubts creep in, deal with them immediately.

Don’t let paranoia spin out of control or imagine worst-case scenarios. Talk back to that doubtful voice with phrases like these:

“No. Stop. I’m not listening to this.”

 “I know where this train of thought leads, and I’m not getting on!”

“I’ve been successful in the past, and I will be again.”

As Steven Pressfield says in Do The Work! Overcome Resistance And Get Out Of Your Own Way,

“The enemy is our chattering brain, which, if we give it so much as a nanosecond, will start producing excuses, alibis, transparent self-justifications, and a million reasons why we can’t/shouldn’t/won’t do what we know we need to do.”

2. Deal with Anxiety Triggers

One way to squash doubt is to deal with it straight on.

What personal deficits or situations trigger your insecurity? If it’s a lack of skill, seek specific training. If it’s uncertainty about a decision, get counsel from other experts in your field. If it’s fear of the unknown, find coaches or mentors to walk you through this stage of uncertainty.

3. Avoid Comparisons

If you compare yourself to others, you will usually lose.

In today’s connected generation, usually your perspective of others is only the highlight reel, and certainly not the struggle or discipline it took to build success. Instead of comparing yourself to others, compare yourself to YOU. Look at how far you’ve come, the progress you’ve made toward current goals, or how you’ve overcome obstacles in spite of hardship.

4. Don’t Depend on Validation

While the input of others can be helpful, confident leaders trust their own instincts.

We all like a pat on the back, but in seeking continual validation, you erode vision and weaken faith in yourself. When tackling a big project, get input initially, then trust your gut and make decisions that feel right to you.

Move Forward With Confidence

Having confidence in yourself is the best way to sharpen your unique voice.

Say no to accusation, confront anxiety triggers, and avoid putting too much weight in others’ opinions. Overpower doubt so you can maximize your potential.

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The Best Marketing Solves a Problem

diamondDiamonds are a girl’s best friend, right? Unfortunately, not always. After learning about some of the poor working conditions and high levels of violence associated with most diamonds on the market, many girls (and guys) have decided that a conventional diamond is not the ideal expression of their love. While some have turned to vintage pieces or alternate stones, one Los Angeles entrepreneur has provided a third option: high-quality jewels grown in a lab instead of under the ground.

Vanessa Stofenmacher did not know much about the jewelry business when she started VOW, her line of engagement, wedding, and promise rings. To cope with the limitations of current diamond-tracking laws, she opted to have the stones for her jewelry line made by Diamond Foundry, a laboratory that makes diamonds in California.

In her market research, she found that women in their twenties were likely to be concerned about the source of their diamonds. They typically did not mind wearing lab-grown stones as long as they looked as good as natural ones. This research made her line a success; the company, beginning with $8,000 in seed money, was valued at $3 million in 2016.

Don’t Be Afraid to Live Your Values

Many of us feel that, in business, our personal convictions should stop outside the doors. However, if we do not create products and marketing campaigns that align with our own values, the chances are good that they will not hit the mark with anyone else.

By choosing a product that she felt strongly about, Stofenmacher found the characteristic that makes her product line different from every other one out there.

Millennials, in particular, are happy to do business with companies that take an ethical stand. By doing something about your beliefs, you can increase connection and engagement.

Think Like Your Customer

The other thing that Stofenmacher did right was seizing an idea that had been troubling many people in the market for diamond rings.

Is there an issue in your industry that you are in a position to address? It does not have to be an ethical concern. It can be a common pain point, such as:

  • the amount of waste currently associated with a product.
  • the inconvenience of current ordering practices.
  • a lack of educational materials about your product and others like it.
  • an area where prices are out of line with consumer expectations.

By looking at what your customer cares about most, you can increase the chances of creating a product and a marketing campaign that will resonate with them.

Listen to Your Customers

How can you find out what people want? Just listen. Stofenmacher learned about the desire for ethical lab-grown stones by perusing Instagram. You can set up social listening on platforms that include Facebook, Twitter, and LinkedIn to see what people are talking about in your industry. Many brands also use customer surveys in front of gated content to learn more.

Over time, you will find that your customers respond best when you directly address an unmet need. The marketing campaigns based on this concept will get higher levels of engagement, a better conversion rate, and will help you build long-lasting relationships that are good for you and your customers.


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What You Need to Know About Facebook’s New Mix Modeling Portal

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We’ve written extensively in the past about how when it comes to digital and print marketing, you’re not looking at an either/or proposition. Often, businesses of all sizes are finding great success embracing the best of both worlds – reaching out to the customers who are most receptive to print channels via traditional methods and using digital resources when they’re most appropriate. We’ve even written about how you can take the lessons learned online and use them to make your print strategies even stronger.

We’re not the only people who share this opinion; it would seem. Facebook has recently launched a mixed marketing portal designed to make it easier than ever for businesses to compare Facebook-based advertisements to television, print, and other types of collateral. While this does mean big things for people using Facebook as an advertising platform, what it means for print marketers is even more interesting.

What Facebook is Doing

The social networking giant’s mix modeling portal for marketers is a significant extension of an existing partnership. Over the course of the past few years, Facebook has teamed with Nielsen (the people who tell you how many people watch the Super Bowl each year, among other things), comScore (the people who focus on digital, TV and movie analytics), DoubleVerify (a company that aims to “authenticate the quality of each digital media impression”), and others. This has all been done to provide clear metrics on how far a Facebook ad reaches, how many impressions it gets, its ultimate performance, and more.

For advertisers that rely heavily on Facebook, this means that they now have access to twenty-four different third party measurement partners to track the performance of their ads around the world, see how their ads are comparing against similar ads running in the world of print and more.

For print-based marketers, this also thankfully means that the reverse is true, too.

What This Means For You

Even if you don’t heavily advertise on Facebook, this new model is still something to pay close attention to because of the metrics at play. It’s another example of the ever-important concept of “pay attention to what is working online and use it to strengthen the foundation of your print campaigns.” Thanks to Facebook, this just got a whole lot easier.

By giving advertisers the ability to compare a successful Facebook ad to other elements of their campaign like print, people who DO happen to be heavy print advertisers can essentially come in from the opposite angle and learn just as much. It’s all a matter of perspective – the marketing mix modeling portal can be used to look at one of your successful print ads, compare it to ads that are running on Facebook and use that actionable information to feed back into the print campaign to help achieve your desired outcomes.

Print and digital advertising have historically been measured in very different ways, but thanks to Facebook we just took a big leap closer to a uniform standard that can be used in both situations. You can use the Facebook MMM Portal to see how impressions reach and other metrics translate into the real world and back again.


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Different By Design: 6 Tips for Adopting The Principles Of Disruption and Improving Your Marketing Strategy

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Less than a decade ago, one of the world’s largest transport networks was simply an imaginative flicker in the minds of two men trying to hail a taxi on a cold Paris night. After failing to snag a car, the two men came up with an idea of an on-demand taxi service at the touch of a button. What began on a snowy evening in France quickly turned into an app to request luxury sedans in a tiny handful of the world’s most cosmopolitan cities. Soon it spread to include different types of rides, package and even food delivery in nearly any city on earth. That app was Uber.

Uber is now one of the world’s richest start-ups. Along with other innovative digital companies such as Airbnb, Snapchat, Netflix, and even Buzzfeed, Uber has grasped a powerful disruptive strategy that has brought it financial and scalable success in a short amount of time. Disruptive businesses such as these can pick out and then act on trends before they become a trend, building a niche in a market that many people haven’t even discovered yet. Follow these six tips to learn some disruptive strategies that will help to differentiate your business and set it up for future growth.

1) Be technologically savvy

Get to know what is happening in the world of all things digital and tech, even outside of your own industry. Something that can revolutionize your business might come from a spark of something you’ve noticed in a different market or business type.

2) Be a first adopter

Often successful companies are the first ones to take on changes and innovations and to use them to their advantage. Don’t be afraid to step out on your own when trying something new.

3) Rely on sharing

Businesses can no longer rely solely on traditional forms of advertising. Combining your marketing channels to include print, as well as digital sharing and promotion can be the easiest and quickest ways to reach potential customers.

4) Keep up with the competition

Stay aware of what your competitors are doing and be prepared to match their innovations with yours.

5) Interact with customers

Uber and the like are successful for their ability to connect with customers instantly. Listening to your customers helps to gauge demand and enhance the consumer relationship. With the rise of social media, customers are developing increasing expectations for transparency from businesses. Forming a connection with your clients will add to their loyalty and trust of your company. With constant lines of communication open to your customers, you can also respond quicker to real-time changes in the market, safeguarding you from future pitfalls.

6) Track your success

Digital data provides you with the tools and metrics to see how and where your customers are coming to awareness and consideration of your services or products. Understanding and using data effectively can make the difference in building and maintaining new business and answering needs within the market.


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Why You Can Never Nurture Your Leads TOO Much

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If you think that you can comfortably stop nurturing your leads as soon as they make that ever-important sale, you’re only seeing one small part of a much larger and more important picture. The fact of the matter is that you can NEVER nurture your leads too much for a variety of important reasons.

Why Lead Nurturing is So Important

Lead nurturing is an essential part of any business, but judging by some recent studies, it may be more important than you think. According to Gleanster Research, as many as half of all the leads coming into your business may be qualified, but they’re not yet ready to buy. Nurturing is perhaps the single best way to make sure you’re able to convert as much of that 50% as possible into a sale.

To make things more interesting, research from InsideSales.com shows that between 35% and 50% of all sales go to a brand that responds to a customer FIRST. This means that even if you know you’re working with a qualified lead AND you know that they’ll eventually be ready to buy, they may not buy with YOU at all if you don’t have a timely presence in their life.

That, in a nutshell, is why lead nurturing is so mission critical to your organization. If you’re not nurturing properly and using timely marketing collateral to help usher someone down the sales funnel, you may be doing little more than perfectly setting someone up to make a purchase with one of your competitors.

NSN: “Never Stop Nurturing”

Consumers want to be loyal to a brand. However, they’re also loyal to themselves and their own situations first and foremost. If you think that just because you’ve ushered a lead down the sales funnel and convinced them to make a purchase that you’ll have them forever, you’re sadly mistaken. And, unfortunately, this is one mistake that you’re likely to pay dearly for.

Remember that “making a sale” is NOT the only benefit of consistent lead nurturing. According to research, leads that have been nurtured experience a 23% shorter sales cycle than those who have not been. Nurturing over time (as opposed to just in the beginning of your relationship) can even increase your revenue over the next six to nine months by as much as 10% or more.

Remember that a constant and consistent nurturing gives way to perhaps the biggest benefit of all: retention. According to one study, it costs 500% more to bring in a new customer than it does to keep a current one. Likewise, the cost of bringing a new customer up to the same level of profitability as one of your old ones is up to 16% more. All of this is to say that by adopting the mantra of “I can never nurture a lead too much” today, you could be saving yourself a tremendous amount of money tomorrow.

Nurturing a lead to the point where you’ve made a sale is important, but this is not the point where your story ends. Consistently nurturing your leads even AFTER a sale will continue to pay dividends over the lifetime of your relationship with that person. The benefits of retention versus bringing in new customers alone should be more than worth the effort you’ll need to make.


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Qualities That Brands With Longevity Share

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In the world of business, there is perhaps no commodity more precious than longevity. Getting a brand up and off the ground is one thing – keeping it around for the long-term is something else entirely. Creating longevity will rely in large part on your marketing, although this is only one small part of a much greater whole. The best marketing campaign in the world can’t create a long-standing, successful brand if a few qualities aren’t underneath it all just waiting to be communicated to the widest possible audience.

They Trigger an Emotional Response

One of the biggest traits that all brands with serious longevity share is the fact that they’re able to trigger an emotional response with their target audience, creating a loyal army of followers. This is true both with the way they market AND the way that response integrates into the service they provide.

Apple is a great example of this based on their image as the “hip, trendy” electronics company. People see a sleek, sophisticated Apple product in an equally compelling ad and they can’t help but think, “That looks really cool; I want that.” The same goes for a company like Amazon.com, albeit from a different angle. The way that Amazon has embraced personal marketing, both regarding the advertising it creates and with regards to the personalized recommendations that each user enjoys, makes them think, “I like Amazon; they get me.” That type of emotional connection is something you just can’t put a price on.

They Live Up to What They Promise

All of the best brands with serious longevity share the fact that they live up to the promises they make in their marketing materials. This comes from a deeper understanding of not just the people they’re trying to attract, but who those people are and what they want. These brands know how to communicate with their target audience and, as a result, don’t just live up to their promises, but they know how NOT to make a promise they can’t keep.

Take FedEx, for example. Entrepreneur.com recently cited FedEx as a brand with an incredibly strong corporate identity, owed largely to the fact that it’s operations are so incredibly efficient. FedEx is a brand built on trust, and the road to trust is paved with promises that have been kept in the past. FedEx is seen as an incredibly reliable service, and people in need of shipping rank FedEx favorably in that regard. This creates something of a self-fulfilling prophecy – a symbiotic relationship that only strengthens over time specifically because FedEx knows what its audience wants and it knows how precisely to give it to them every time.

Once again, Apple is another example of this idea in motion. They promise products that “just work” and have historically delivered on that promise time and again. This has made them not only one of the most successful brands in the world, but also one with serious longevity in an industry where companies come and go like the weather.

These are just a few of the core qualities that all brands with longevity share. Remember that in the grand scheme of things, brands come and go all the time. Creating a brand is easy, but if you want to make sure that your brand stands the test of time, you need to focus on offering something truly unique on an ongoing basis.


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Tips for Nurturing Existing Sales Leads

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While bringing new leads into your business is always important, sometimes it’s not the “be all, end all” solution to your bottom line. Remember that according to most statistics, an incredible 90% of new prospects are merely in the “browsing” stage of their relationship with your company – meaning that they’re not quite ready to buy. Out of every new lead you bring into your business, only 5% are ready to pull the trigger – if that. While you may think this means you have to work harder to bring in a higher volume of leads (this is a numbers game, after all), try a different approach. Don’t forget about the leads you already have.

If you want to get better at nurturing your existing sales leads to get them ready for that ever-important purchase, you’ll want to keep a few key things in mind.

You Are an Authority. Don’t Forget This

When people think about nurturing leads, one of the qualities required for a solid relationship is one of trust. Never forget that you’re not just selling a product or service – you’re also selling yourself. People are a lot more willing to spend money with your company if they trust that you know what you’re talking about.

Don’t JUST hit your prospects with sales materials over and over again; this isn’t lead nurturing, this is badgering. Instead, try sending helpful, well-researched content in their direction as well. You need to be focused on establishing that you know what you’re talking about. People aren’t just going to take your word for it. When you spend time positioning yourself as an authority and focusing on the other qualities of lead nurturing as well, people will begin to see you as the solution to their problem when they do feel comfortable enough to buy.

Don’t Just Make Contact When You Have Something to Sell

One of the biggest mistakes that a businessperson can make involves only remembering that a lead exists when you need to increase your sales numbers for a particular quarter. Nurturing leads requires you to keep in mind that you’re talking about more than just line items on a balance sheet – prospects are living, breathing people who don’t like to feel used.

As a result, make an effort to reach out to a few of your potentially higher quality leads even if you’re not pushing a new product or service. Thanks to the power of social media, this is easier than ever. Even a quick Facebook message on a birthday or at Christmas will go a long way towards strengthening (and increasing the ultimate value of) your relationship.
These are just a few of the many reasons why it is so important to nurture your existing sales leads. None of this is to say that you should stop focusing on bringing in new leads and turn 100% of your attention on existing ones. As always, success requires you to strike a delicate balance between the two. But if you let the majority of your existing leads lay dormant for too long, you’re burning a lot more than just potentially important relationships. You’re leaving a lot of money on the table at the same time.


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Goals are Not Just for Sports

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In school and at work, we are often told to create goals and to strive to reach them. After all, achieving our goals is a measure of success and a method of how to pursue our dreams. Goals are a big part of managing marketing and sales in most companies, and they are the markers of who is producing and who is not. Not everyone has the same training in hitting goals, however, nor do goals create motivation for everyone.

What Can We Learn from Goals in Sports?

The easiest way to demonstrate goal setting is to look at sports. Every sport has a goal to reach to win the game. Goals can be achieved through hitting a ball out of the park, into a net, throwing it into a basket, or even by racing to a finish line. Most of these goals are made from years of preparation, training, and study of the game they represent. No athlete achieves success without that training, no matter how easy the achievement looks to the spectator. Athletes work through injuries, bad days, failures, and practice. Achievements are the culmination of hours and hours of work.

Obstacles

The point of a goal is to help you achieve success even with the stumbling blocks and barriers that stand before you. A goal is a guiding light to keep you on your journey or path. Henry Ford said that “Obstacles are those frightful things you see when you take your eyes off your goal.” The obstacles will always be there to keep you from making the goal. You may not have the experience, the education, or the opportunities that your peers or competitors do, however, you can still achieve your goals if you are willing to keep working towards them.

Applying Goals to Business

Like sports, business goals can be short-term or long-term. For instance, you can have a goal of getting ten items completed by the end of your work day. That is a short-term goal. A long-term goal is establishing 100 new customer accounts by the end of the year. An even longer-term goal is becoming the top business in your category in the city by 2020. The key is establishing goals that are reachable, measurable, and trackable so that you can follow your progress as you work towards the goal.

While wanting to be the best business in the city by 2020 is possible, a more reasonable goal is to triple your income from your business by 2020. With this goal, you can create the steps that will lead to the goal, and measure your progress as you continue your journey. You will know when you hit your goal by the numbers you achieve without any arbitrary or ambiguous measurements.

How to Keep Your Goals in the Forefront of Your Mind

Weekly meetings to keep everyone on your team on track may be boring, but their function is to make sure the team members are still striving towards group goals. You can do the same with your personal business goals. Remind yourself daily what goals you are working towards and what you need to accomplish that day to move in the right direction. Remember that keeping your eyes on the goal will help to remove the obstacles.


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The Art of the Pivot

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No matter what business you’re talking about, most companies usually begin life in the same way: with an idea. You wake up one morning, have an idea for a product or service that you’re sure will be the “next big thing,” and you get to work. You fully commit yourself to building an infrastructure, developing and expanding on your idea, and eventually, you bring your product or service to market.

And then things have a habit of sometimes not going necessarily how you’d planned them.

Maybe people are using your product, but they’re not using it in the exact way that you intended. Certainly not in the way you built your strategy around. Maybe your product or service isn’t popular at all, but the underlying idea is still a solid one. In these situations, you have two options: you can pack up your ball and go home, or you could do what some of the most successful companies in the history of planet Earth have done: you pivot.

The Art of the Pivot in Action

A few years ago, an online role-playing game was founded called “Game Neverending” – you’re forgiven if you’ve never heard of it. The premise was simple – users would travel around a digital map and find other people to buy, sell, and build items with. Included inside the game was a photo-sharing tool, which quickly became one of the most popular parts of the experience. Though the developers loved their idea, users weren’t quite so kind. People were spending less and less time on the “buying, selling, and building items” part and more on the “photo-sharing” part, causing significant problems for the company’s long-term goals.

While you’ve probably never heard of “Game Neverending,” you ARE no doubt aware of a service called Flickr – one of the most popular and widely used photo-sharing tools of the digital age. The developers behind “Game Neverending” realized that they were never going to get people to love their RPG the way they did, so they did what any entrepreneurs would do: they pivoted. They threw out everything except the proven-successful photo-sharing technology and started from scratch. One acquisition by Yahoo! later, and the rest, as they say, is history.

Let the Market Be Your Guide

The key takeaway from this is that you need to be willing to listen to the market and allow it to guide you through execution, even if that execution is at odds with your original intent. Remember that the market is telling you “We like this, but it would be better if it had X, Y, and Z features” is different from pivoting. If users enjoyed the RPG experience of “Game Neverending” and the developers just kept adding game-related features, we might not have Flickr today.

Instead, the market communicated loud and clear: “We don’t like this game, but we do enjoy this one thing that the game lets us do.” These are the types of moments you have to be not only willing to listen to, but also to allow them to change your idea of what your product or service could become.

Listening to the market and being willing to pivot, even if that was the furthest thing from your mind at the time, is not a bad thing. Indeed, history has proven that great things have been born out of it time and again. Because if you release a product or service and are unwilling to change based on the ideals of your users, you’ll wind up hemorrhaging users pretty quickly.

And without those users, what are you left with? Little more than a good idea in search of a purpose, which isn’t anything at all.


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