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9 Warren Buffett Quotes for Start-Ups to Live By

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warren buffett

If you are thinking of starting a business or have been reading about investing, you are sure to have come across the name, Warren Buffett. He is an American business magnate and investor who has made a massive mark in the investment world.

When someone makes it big, their words become words to live by. Warren Buffett’s quotes are no different. Here are a few quotes that are worth following for any start-up. Take these words as advice, and all put together it makes great sense and helps you pave the path to success.

“Risk comes from not knowing what you’re doing.”

One thing that discourages a lot of people starting out is the advice that you need to know all the ins and outs of what you are doing. Most of the times, it is simply not possible. That being said, it is important to know the basics and the core of the field you want to make it big in. If it is worth taking the risk, then it is also worth knowing what risks to take.

“In the world of business, the people who are most successful are those who are doing what they love.”

One of the many reasons why people choose to do business is to get a chance to make a living  doing what they love. This is not possible for many 9-to-5ers, and some people can’t bear that. You are lucky if you find a job doing what you love, but with a business, you have the choice to get your hands on exactly what gets you excited. Doing what you love is a surefire way to achieve success, not only in business but in life as well.

“The most important investment you can make is in yourself.”

When you start anything new, take a significant amount of time to learn the craft required. Take classes, spend time reading, do everything you can to prepare yourself. You are the greatest asset to your business, so it only makes sense to invest in yourself. You are going to be with the business from the start and throughout, so to get returns you need to invest in yourself. Not only learning what is needed for the success of the business but learning things to make yourself the person needed to achieve that success.

“I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.”

One thing that I often advise people is to stop comparing themselves to people who are already successful. It is more than okay to be inspired by them but following their steps down to the T can often overwhelm you and make you give up. What works for them at their stage is not going to work for you now.

Suppose you sell coffee with whipped cream for $3 and you see Starbucks selling the same thing for $6. Now, you want to be like Starbucks, and your coffee even tastes better, so you start selling yours at $6 as well. Your business starts to fail; you wonder how can it when you have a better product for the same price, offering a similar ambiance, and you are even giving customers special discounts from time to time.

Well, what you fail to see is, you aren’t Starbucks. No matter how similar, you haven’t made your mark in the market yet. Think of it like this, if you have to pay the same price at two places, one is a well-known and well-established international chain, and the other is a new local place, which one will you choose? Instead of making the big leap, start with smaller ones to reach where you want to be.

“You know…you keep doing the same things and you keep getting the same result over and over again.”

Once you have taken the decision, laid down the foundation, learned the basics, and are ready to take the world by storm, you have to be willing to change your methods if they don’t work. Some people become rigid with their plans because they have spent a lot of time and effort bringing them into action, but if it hasn’t worked the five times you applied it, chances are it is never going to work. If you want more, you need to make changes. The same plan that was needed to start will not be helpful when you need to reach the next level. Make changes as your business demands.

“It is not necessary to do extraordinary things to get extraordinary results.”

When it is said that you need to make changes to reach the next level, it doesn’t have to be huge. A little something goes a long way. If you feel like you have been in the same position long enough and it is time to move ahead, then think about what can be easily achieved before thinking about something that might not even be possible at your stage.

Let’s take the example of waking up early. You got a client who is based in a completely different timezone. You decide to work late at night to accommodate him while also doing all the other work you have. Now, this results in you skipping dinner sometimes, working for hours at a stretch with a tired mind, missing your kids going to school in the morning.

This is an extreme step, this gives your mind a false sense of you doing a lot of work and being very productive, but that is not the case. Instead of making a lot of sacrifices, start waking up early, you will get to see your kids, get your work done, rest, and then talk to the said client. Now, you have grown your business without losing your sanity.

“You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.”

Let’s take the above example. If taking on that client means losing a lot of things: sacrificing your health, your personal life, your work quality, then is it really worth it? I understand the desperation to say yes to every opportunity when you are a beginner but take a moment and think about it, even if you want to say yes right away.

You will thank yourself for not rushing into it. Sometimes, the opportunities are too good to be true. You might think that it is going to help right now, but you have to take the bigger picture into account. Learning to say no from time to time is an important skill to master if you want to keep your sanity while aiming for success.

When I started, I said yes to every opportunity that came my way. They were all good opportunities but I could only do so much. I already had my hands full, so I had to learn to say no. With time I have gotten better at it. You cannot overfill your plate because it won’t do justice to either the job or you.

“The best thing I did was to choose the right heroes.”

As your business starts gaining momentum, you will realize that you need help. It is time to hire people. People are your biggest investment after yourself. The people you choose to work with or to work for you can often make or break the situation. It is not only about how much experience a person has but about the attitude that a person carries.

Is the person willing to learn, to grow from their mistakes, to give all in for the job? If you find a person like that, then don’t be afraid to shell out a few thousand more than the industry standards to hire them because that person is going to make you more profit than a couple of thousand you would have saved from hiring someone mediocre.

“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you’ll drift in that direction.”

People are one of the greatest sources to learn from. While working, do not forget to spend time with humans. Human interaction is something that many people struggle with as they get more comfortable with social media. You have to be careful who you spend your time with. Their outlook on things and life has the power to shape you.

Hang out with people you admire and want to learn from. Hire people who can teach you a thing or two. It is always okay to learn from people who are not at your level yet. Everyone has something to offer, decide if that something is for you or not.

Starting a business can be stressful. The uncertainty of success, the fear of failure, the insane amount of do’s and don’ts can all be too much sometimes. Quotes are a huge source of inspiration, take the quotes and use them to motivate yourself like what I have done here.

Entrepreneurs

Tools to Find and Work With Influencers to Market Your Business

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Tools to Find and Work With Influencers to Market Your Business

For any business to grow, marketing its products and services to the right audience is necessary. One marketing channel that many businesses seem to avoid due to ignorance is influencer marketing

“Influencer marketing is the modern word of mouth & is eating the lunch of traditional digital media in many ways.”

-Kinser

In simple words, with influencer marketing, you will be using popular people with a large following on social media and blogosphere to promote your product. The outcome can be tremendously positive. Today I will help you explore how you can find influencers in your business niche and how to negotiate with them.

Finding Influencers

“Influence marketing is an art and science. The art is the crafting and creating of content that adds value to people’s lives, personally or for their business. The science is the tactics and tools of building tribes and followers on the big social networks”

-Jeff Bullas

The first step for using influencer marketing is finding the top influencers in your business niche. For this, you can use any of the following tools –

Buzzsumo

This is a freemium application in that you can use certain features for free but will have to pay to use its full set of features. Even with its free mode, Buzzsumo is extremely useful for marketers to identify and categorize influencers into various types, like bloggers, reviewers, trainers, beauty experts, and so on.

This will later allow you to use them appropriately for business promotion activities. In addition, Buzzzsumo is also a great tool to know what types of content is trending for a particular day or week.  

Tweetdeck

If you wish to focus largely on twitter influencers, then Tweetdeck is the perfect tool for the job. While you can certainly use this tool to identify influencers that have a large number of followers, its true usefulness lies in the fact that you can also see how many Twitter lists these influencers are on. 

This will allow you to accurately gauge the popularity and impact of the influencer enabling you to avoid those who have the least impact and hire influencers with the biggest reach.

Kred

This is another great tool that will help you judge the quality of an influencer. The tool will use various metrics like replies, follows, mentions, etc. of the influencer to see how impactful they are. Finally, Kred will provide a rating based on the criteria that will make it much easier for you to find top quality influencers. If you are just starting out with influencer marketing, then Kred is the tool for you.

Group High

If you do not wish to waste time on research and finding influencers, then you should try the influencer marketing software – Group High. They maintain a centralized data of some of the biggest influencers on the internet.  Plus, the influencers are categorized based on different niches like sports, travel, beauty, tech, and so on. This will make influencer marketing an extremely simple process.

Working With Influencers

Once you have found the important influencers in your niche, you can start approaching and negotiating with them. For this, the following tips will be useful:

Reviews

Tools to Find and Work With Influencers to Market Your Business

The first option is to ask the influencer to review your offering. You can allow them to use the product or service for a few days and ask them to post their honest reviews about it on their social media page. Customers always conduct in-depth research about a product they are interested in.

“95% of people trust recommendations from others over branded content, even if they don’t know them personally.”

-Josh Hager

As such, if they come across a review from an influencer they are following, then an extremely positive review may push them to choose your product. Now, it is also possible that the reviewer may not like your product. As such, you can ask them not to post a bad review but do not ask them to post a false review. It is unethical and will eventually turn against you.

Sponsored Post

If you don’t want influencers to review your product, you can negotiate with them to publish a sponsored post. Though a sponsored post might seem like a review, there is a big difference. In a review, the influencer is free to say negative things about your product. But, in a sponsored post, you will be paying them to publish a post about your brand.

“People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising.”

-Mark Zuckerberg

This will ensure that there is nothing excessively negative published about your product or service. However, you have to understand that some bloggers will likely state in the post that it is a ‘sponsored post’ if they are a strict follower of the FTC guidelines. But, do not let it stop you because the exposure gained through a post by an influencer marketer is well worth the money spent.

Giveaway

Tools to Find and Work With Influencers to Market Your Business

Another way to use an influencer is through giveaways. This can be a great strategy since a giveaway allows the influencer to hold a contest for their followers with your product or service as the prize. As a result, they are very likely to agree to such arrangements.

Plus, they will also be neutral when talking about the giveaway and only mention its benefits. So, as far as you are concerned, a giveaway is the perfect tactic to get a positive mention of your product from an influencer to their numerous followers. This is essentially a win-win for both parties.

Make sure to work with the influencer to come up with a great contest for the giveaway. It should be exciting for all participants. And remember, the objective of the giveaway is to ensure that many people participate in it. So, don’t complicate the contest. Keep it simple and you are guaranteed to see a fantastic response and exposure.

Guest Posts

Many influencers will be contributors to big media outlets that will have a reach to millions of readers. And this is an opportunity you must fully explore. In addition to posting favorable posts on social media and personal blogs, you can ask the influencers whether they are willing to publish a post about your product or service on the website in which they are a contributor. Or you can ask them to let you write a guest post on their blog.

Now, do not have any expectations of how much exposure you will receive in such posts. After all, they are publishing to a third party website and will usually have to contribute a useful piece of content. The best they can possibly do is mention your product or service briefly. But, considering the exposure the article will provide your brand, this is a good marketing strategy that you must definitely try out.

Final Thoughts

In today’s times, social media is a life-changing tool for small businesses. The plethora of platforms available at our disposal to use – to benefit us and our businesses in ways that didn’t seem possible before – offers a huge opportunity to engage with a community of prospects at a fraction of the cost. 

“Influencer marketing is something to pay attention to. We’re used to influencers being people like the Kardashians, but we all have our Kardashians at our events. These people are called micro-influencers and they can have a large impact when used strategically.”

-Alex Plaxen

Influencer marketing lets you tap in on a community of people who can be potential customers. The right influencer can allow you to gain many prospects. It is important to learn what works for the current times, and influencer marketing doesn’t seem to be going away anytime soon so you might as well use the opportunity to the fullest.

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Ways to Improve Marketing Results Using Data from Social Channels

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Ways to Improve Marketing Results Using Data from Social Channels

Marketing is aimed at making a product or service look as desirable as possible so that people feel a need to buy and use it. While there are many tactics that can be used to boost marketing and increase sales, ‘social proof’ is one of the most underused tactics by many marketers. 

And honestly, this is quite unfortunate since social proof can be used to create a huge positive impact on how the public perceives your product and service. Here are some simple methods of using social proof to improve the results of your marketing campaign.

Use Statistics

One of the easiest ways to use social proof in marketing is to use statistics that display the standing of your business, product, or service. 

Ways to Improve Marketing Results Using Data from Social Channels

For example, if you manufacture baby talcum powder, find out how many people buy them, its market share, how many people prefer it over other brands, and so on. You can then publish such statistics which will act as social proof that the product or service you offer is indeed of high-quality and in good demand. 

When people see statistics like “2 in 3 mothers use our talcum powder for their kids” or “60% of first-time buyers prefer to buy our brand for the next time,” they tend to have a positive impression about the business. This makes the customers feel more comfortable because it sways them to think that they are making an informed decision.

Testimonials

Another simple tactic you can use to boost sales through social proof is by publishing testimonials. A testimonial is simply a statement from the users of your product or service on how they benefited from it, how the product or service produced much better results compared to those of other similar brands, and so on. 

The effect such testimonials have on people is tremendous. People generally end up developing a favorable view of something that is viewed positively by numerous other people. And this will make them try out that specific product or service. This is also why influencers are becoming far more valuable to marketing.

Visual Proof

Visual proof is one of the most potent tactics out there. Visuals can be such a strong social proof that the audience may even go out and buy the product being promoted solely on the basis of these pictures and videos. 

Ways to Improve Marketing Results Using Data from Social Channels

For example, imagine that you conduct a weight loss workshop that guarantees a person will lose almost 20 kilos in just about 3 months. Now, you can publish a detailed text on how the regimen works, what results to expect, etc., but they will have far less impact than a few pictures that show the participants of the program before and after joining it. When the audience sees the visuals of people having lost belly fat, it will act as a strong reconfirmation in their minds that the program is worthy of their investment.

Visual cues are easier for people to remember and act upon. It makes sense to make the launch or advert of your product as visually appealing as possible so that people actually take time out to look at it.

Expert Opinions

There are also companies that use expert opinions in order to boost sales. This is also the use of social proof, which in this case are the opinions of a few respectable intellectuals from a particular field. 

A business that sells anti-virus software can use the expert opinion of tech experts and professionals from the field of safety and security. Positive reviews about your software will let the audience know that what you offer is a completely secure anti-virus software that has been approved for purchase by some of the best people in the industry. This will obviously boost the sales figures for your product.  

Consumer Reviews

Ways to Improve Marketing Results Using Data from Social Channels

While expert opinions are good social proof, a much stronger source of social proof is consumer reviews. Expert opinions are about people who just test your product for a few days and state their observations. In contrast, consumer reviews are created by people who have already bought your product because of their interest it, used it and then stating their observations about it. 

People generally tend to trust consumer reviews a lot more than expert opinions. This is mostly because of the understanding that such reviews are written by people who are just like them. 

So, ensure that you get as many positive reviews about your product or service and publish them on websites and social media to show potential customers that you have a strong existing consumer base.

Surveys

Yet another form of social proof is a survey. You can conduct surveys on subjects relating to your product or service and publish the positive results online. 

For example, if you manufacture shampoo that guarantees to reduce hair fall and strengthening the strands of hair, you can set up an online poll on social media asking your followers as to how many of them experienced an improvement in their hair quality after using the product for three weeks. 

Once the survey is finished and the results come out positive, you can publish it and let them know that a good majority of users have benefitted immensely from the hair shampoo. 

The positive results from the live survey will surely influence the people who have not used your product to at least consider buying and trying it out.  

Influencer Marketing

In the social media space, there are people who are known as ‘influencers.’ These are basically people who have a large following and are therefore in a position to influence how their followers feel about something. 

Ways to Improve Marketing Results Using Data from Social Channels

You can use such influencer marketing tactics to create a positive image of your business by enticing the influencers to post a few lines that say good things about you and your products. Using multiple influencers in multiple time periods is the best way to ensure that a constant stream of social proof about your product keeps appearing in social media. 

Keep in mind, the influencers you choose to represent your product must have a strong base of followers that come within your ideal target consumer group.

Celebrity Endorsements

This is one of the most expensive social proof tactics on the list. But this can also be the most impactful. 

Big businesses always use celebrities to promote products and services. The status and positive image of the celebrity makes the product look trustworthy in the eyes of the audience. Your business can try out the simple tactic by hiring a popular celebrity if you can afford one.

Although, the influencer market is getting so big in the current space that you won’t be missing out on much if you can’t afford celebrity endorsement.

Final Thoughts

Social media has given businesses a valuable tool to understand their customer base and to tap into their target audience market. Approaching potential customers was never easier. To quote myself from when I wrote an article about making the most of social channels – 

We have so many amazing channels available to us to reach out to the customers and making the best use of these channels to cultivate a loyal customer base directly correlates to the success of the business moving forward.

Understanding your customer base and attracting the right customer base is important to start a business and keep it running. Social media provides valuable feedback from real users and also helps you lead your target audience back to your products. It helps your business make a one-on-one connection that has a huge impact on the overall standing a brand has in the market.

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How to Build a Thriving Community on the World’s Largest Social Media Platform

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How to Build a Thriving Community on the World's Largest Social Media Platform

Facebook is the world’s biggest social media platform. And if you have a community page on the site, then you have limitless potential to grow it into an active meeting place for people who are interested in the same things as you. 

But even though starting an online community on Facebook is an easy process, attracting new members and keeping them interested in the community can be difficult since there will be many competing pages that cover interests similar to yours. 

If you have just started a community and are unsure of the steps to take next, then the following tips will definitely help you in building a thriving community on the world’s biggest social media platform.

Always Publish Relevant, Informative Content

How to Build a Thriving Community on the World's Largest Social Media Platform

When publishing content to your Facebook community, you have to focus on two core areas – relevance and information. 

Firstly, only publish posts that are completely relevant to the members of your community. For example, if you have started the community with a description which states that it will deal with superhero movies, then you must only publish content in that specific genre. You should also only encourage discussions within the topic.

Just because you saw a meme of a cat that got a million likes, it does not mean you share it with the members. Never do such a thing. Although you might benefit from such a move in the short term, you will dilute the focus of the community by sharing unrelated stuff. 

And other members might stop being active in the community since they are not always getting what they expected – superhero updates.   

“Make it simple. Make it memorable. Make it inviting to look at. Make it fun to read.”

-Leo Burnett

Secondly, always make sure that most of the posts you share within your community have information which the members find valuable, unique and interesting. For example, if your community is focused on topics like home care, then you can share content that helps them rectify air filter problems in the air conditioning. 

The tips that are immediately effective, while remaining unique and not shared a million times before, will be valued. 

The methods you share should be workable enough that the member can implement the tips and correct air filter issues. If your methods do not produce desired results, then too, the members will start losing interest in the community.  

So, as long as the material you share is both relevant and informative, your community is guaranteed to grow.

Use Facebook Live

How to Build a Thriving Community on the World's Largest Social Media Platform

If you have been avoiding using Facebook Live, then it is time you rethink your decision. Facebook Live is one of the fastest-growing aspects of the platform. And the reason for its growth lies in the fact that people like to see other people live on-screen rather than read their ideas through a post on the community page. 

And in certain subject matters, having a regular Facebook Live session can bring about greater bonding among community members, while also attracting newer users. 

For example, if you have a community page dedicated to the NBA, then you can use Facebook Live to stream your reaction and viewpoints about a game in real-time. And if you are really good at presenting fresh insights into the game in a way that interests the audience, then the members will definitely wait to watch your live reaction to the next game.

Share Member Questions and Suggestions

How to Build a Thriving Community on the World's Largest Social Media Platform

Try to let the members know that you care about them and value their opinions. A good way to do this will be to answer some of the member questions and discuss suggestions. You can do this through a regular text-based post, but a video post is ideal since your audience will see you and are more likely to connect with what you express. 

For example, if you run a community that focuses on hair care, and someone raises a question as to how hair can be made shinier, then be sure to cover the topic in your next post while mentioning the name of the person who brought it up. 

Similarly, if someone suggests an effective method of removing dandruff from hair, their solution should also be shared with the community. When the members see that their questions and suggestions are being valued, they are more likely to remain active in the community.  

Interviews

How to Build a Thriving Community on the World's Largest Social Media Platform

Another good way to build a thriving community is by conducting exclusive interviews. The interview need not be with a big shot. Instead, you can conduct a video interview with someone who has achieved some success in the particular field that you are interested in. 

If the interviews are informative and useful to the members, they will continue to actively participate in the community. 

For example, imagine that you have a Facebook community covering, ‘Counter-Strike Global Offensive.’ You can conduct weekly or bi-monthly interviews with people who have jumped in the rankings, inquiring how they did it and discussing tips and tricks that can help other players. 

If your interview makes the members more knowledgeable about the game, then you will definitely succeed in keeping the community active and growing.

Hold Events

How to Build a Thriving Community on the World's Largest Social Media Platform

If your community page mostly consists of members who are concentrated in specific geographic areas, then you can consider setting up special meet-up events as well. 

For example, if your community is focused on Photoshop Tips, and you are an expert when it comes to the software, then you can conduct special training seminars at a few cities for free or a nominal amount. 

This will bring members together at a physical location and will likely increase their commitment to the community. And if you are solid on the business side, you can even conduct such events at zero cost and turn in a profit by soliciting sponsorship and selling Photoshop add-ons and relevant software as an affiliate.

In addition to the above, there is one more important thing that you have to remember – always treat your members with respect. Just because you own the community does not mean that you go about rejecting differing viewpoints of the members and behave negatively with them.

Work up your leadership skills when you manage a community. People need to know they can trust you and count on you. If you’re respected, what you say and do becomes more valuable. 

Whatever suggestions they provide, accept them if right, and politely reject if not. If you remain fair with the members, then they will see you as a good administrator, which will ensure that the community remains active for a long time.

Final Thoughts

Facebook is a very powerful tool that comprises of a widespread audience. You should be dedicated to creating a community because you want to bond with people not because you want to push your business. If you keep pushing your business, chances are that people won’t stay around long. Build a relationship first, and it will automatically convert into business.

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