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5 More Successful Businesses That Started With a Simple Idea

5 More Successful Businesses That Started With a Simple Idea

Starting a business may appear daunting, but it’s really not difficult. Many people believe that most new businesses fail within three years. While most will fail, the truth is that you can start one with a simple idea.

There are a lot of success stories out there from entrepreneurs who have made it. It all begins with an idea, some paperwork, and a storefront and/or website. Here are five more successful businesses that started with a simple idea:

1. Mente Cacao

Eduardo Villers became interested in chocolate during his travels throughout Mexico. Eduardo enjoyed traveling through the jungles, where he came in contact with the cacao tree. Inspired by his deep love for cacao, Eduardo decided to introduce it to the Mexican people, who only knew about Hershey’s chocolate.

He started Mente Cacao in Mexico City by offering cacao drinks to the local people. During his time there, he also studied with his uncle, who was a farmer and taught him a lot about cacao and chocolate. He remained in Mexico City for two years before moving his business to San Miguel De Allende in central Mexico.

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Mente Cacao now has two locations in San Miguel De Allende. Most expats and locals say that it is the best chocolate in town. Eduardo Villers is currently working on getting Mente Cacao distributed in the United States and Japan.

2. BloomNation

Gregg Weisstein started out working as a business consultant, primarily helping rescue companies that were on the verge of bankruptcy.  His friend and eventual co-founder came up with an idea to offer a floral marketplace based on the Amazon model. They didn’t want to become another 1-800-FLOWERS service.

They were advised by many people to drop the idea because many of them could not foresee the potential in a dying flower industry. However, Gregg and the team were not dismayed by the ridicule.  They wanted to offer a service that was more personalized, interactive, and transparent. With BloomNation, they connect people with local florists and show their reviews to customers so that they can make an informed decision.

BloomNation now works with over 3,000 florists nationwide and has been named the “Top Silicon Beach Startup to Watch” by Entrepreneur magazine and Business Insider.

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3. Billy

Toke Kruse had a problem common among millions of new business owners. As an entrepreneur, he always thought that accounting was a hassle. He went from one accounting application to another with no success. While some of them were better than others, they ultimately still gave him headaches. It didn’t take him long to realize that these software programs were built for accountants.

Toke wanted to create a solution for the business owner who knew little or no accounting at all. Most people could simply hire an accountant for their needs, but most accountants are expensive, especially for new business owners who don’t have a lot of money to begin with.

Toke decided to create an accounting application that was very simple for business owners with little or no accounting experience. Toke and his partner launched Billy four years ago in Denmark. The software application was well-received not only in Denmark, but also in the United States. The company now grosses over $1 million in revenue annually.

4. Professor Egghead

Shaun Tuch decided to start an after-school program with his brother eight years ago. They began with one sports class in Los Angeles. They both had a sports background, so the idea was a no-brainer. The initial plan for them was to make some extra income. However, after receiving some great feedback and seeing the popularity of the program, Professor Egghead started to offer science classes too.

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Shaun hated science when he was a kid. So, he wanted to make a science class that was fun for kids. Because he enjoyed making slime and building LEGOS, he wanted to incorporate those activities into his classes while also giving children an educational and engaging experience.

They now run multiple programs in 50+ locations throughout Los Angeles. Recently, they franchised the concept and are now offering Professor Egghead as a franchise in the United States.

5. Toronto Vaporizer

Nima Noori was just an international student struggling to pay his tuition. He soon realized that a minimum wage job was not going to be enough and needed to do something else. He thought about selling electronic accessories and computer parts on Kijiji (an online service similar to Craigslist). However, after researching the market, he realized that it wouldn’t be worthwhile.

Nevertheless, he became aware that there was some online interest in vaporizers, a device used for smoking. As a result, he put some test ads on Kijiji to test the market. After getting dozens of inquiries from interested customers, he saw that he could fill a need in the marketplace. He used his personal credit card to buy some units and started selling vaporizers on Kijiji.

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Nima was motivated and wanted to beat his competition. So, he offered same day drop-offs within the Toronto metropolitan area. The success of Toronto Vaporizer exploded as a result of his same day service. Toronto Vaporizer is now a multi-million dollar business and Canada’s largest online retailer of vaporizers and vaporizer accessories.

*This article is the sequel to the initial LifeHack article: 5 Successful Businesses That Started With a Simple Idea.

Featured photo credit: Sebastiaan ter Burg via imcreator.com

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Published on November 8, 2018

How to Answer the Tough Question: What are Your Salary Requirements?

How to Answer the Tough Question: What are Your Salary Requirements?

After a few months of hard work and dozens of phone calls later, you finally land a job opportunity.

But then, you’re asked about your salary requirements and your mind goes blank. So, you offer a lower salary believing this will increase your odds at getting hired.

Unfortunately, this is the wrong approach.

Your salary requirements can make or break your odds at getting hired. But only if you’re not prepared.

Ask for a salary too high with no room for negotiation and your potential employer will not be able to afford you. Aim too low and employers will perceive as you offering low value. The trick is to aim as high as possible while keeping both parties feel happy.

Of course, you can’t command a high price without bringing value.

The good news is that learning how to be a high-value employee is possible. You have to work on the right tasks to grow in the right areas. Here are a few tactics to negotiate your salary requirements with confidence.

1. Hack time to accomplish more than most

Do you want to get paid well for your hard work? Of course you do. I hate to break it to you, but so do most people.

With so much competition, this won’t be an easy task to achieve. That’s why you need to become a pro at time management.

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Do you know how much free time you have? Not the free time during your lunch break or after you’ve finished working at your day job. Rather, the free time when you’re looking at your phone or watching your favorite TV show.

Data from 2017 shows that Americans spend roughly 3 hours watching TV. This is time poorly spent if you’re not happy with your current lifestyle. Instead, focus on working on your goals whenever you have free time.

For example, if your commute to/from work is 1 hour, listen to an educational Podcast. If your lunch break is 30 minutes, read for 10 to 15 minutes. And if you have a busy life with only 30–60 minutes to spare after work, use this time to work on your personal goals.

Create a morning routine that will set you up for success every day. Start waking up 1 to 2 hours earlier to have more time to work on your most important tasks. Use tools like ATracker to break down which activities you’re spending the most time in.

It won’t be easy to analyze your entire day, so set boundaries. For example, if you have 4 hours of free time each day, spend at least 2 of these hours working on important tasks.

2. Set your own boundaries

Having a successful career isn’t always about the money. According to Gallup, about 70% of employees aren’t satisfied with their current jobs.[1]

Earning more money isn’t a bad thing, but choosing a higher salary over the traits that are the most important to you is. For example, if you enjoy spending time with your family, reject job offers requiring a lot of travel.

Here are some important traits to consider:

  • Work and life balance – The last thing you’d want is a job that forces you to work 60+ hours each week. Unless this is the type of environment you’d want. Understand how your potential employer emphasizes work/life balance.
  • Self-development opportunities – Having the option to grow within your company is important. Once you learn how to do your tasks well, you’ll start becoming less engaged. Choose a company that encourages employee growth.
  • Company culture – The stereotypical cubicle job where one feels miserable doesn’t have to be your fate. Not all companies are equal in culture. Take, for example, Google, who invests heavily in keeping their employees happy.[2]

These are some of the most important traits to look for in a company, but there are others. Make it your mission to rank which traits are important to you. This way you’ll stop applying to the wrong companies and stay focused on what matters to you more.

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3. Continuously invest in yourself

Investing in yourself is the best investment you can make. Cliche I know, but true nonetheless.

You’ll grow as a person and gain confidence with the value you’ll be able to bring to others. Investing in yourself doesn’t have to be expensive. For example, you can read books to expand your knowledge in different fields.

Don’t get stuck into the habit of reading without a purpose. Instead, choose books that will help you expand in a field you’re looking to grow. At the same time, don’t limit yourself to reading books in one subject–create a healthy balance.

Podcasts are also a great medium to learn new subjects from experts in different fields. The best part is they’re free and you can consume them on your commute to/from work.

Paid education makes sense if you have little to no debt. If you decide to go back to school, be sure to apply for scholarships and grants to have the least amount of debt. Regardless of which route you take to make it a habit to grow every day.

It won’t be easy, but this will work to your advantage. Most people won’t spend most of their free time investing in themselves. This will allow you to grow faster than most, and stand out from your competition.

4. Document the value you bring

Resumes are a common way companies filter employees through the hiring process. Here’s the big secret: It’s not the only way you can showcase your skills.

To request for a higher salary than most, you have to do what most are unwilling to do. Since you’re already investing in yourself, make it a habit to showcase your skills online.

A great way to do this is to create your own website. Pick your first and last name as your domain name. If this domain is already taken, get creative and choose one that makes sense.

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Here are some ideas:

  • joesmith.com
  • joeasmith.com
  • joesmithprojects.com

Nowadays, building a website is easy. Once you have your website setup, begin producing content. For example, if you a developer you can post the applications you’re building.

During your interviews, you’ll have an online reference to showcase your accomplishments. You can use your accomplishments to justify your salary requirements. Since most people don’t do this, you’ll have a higher chance of employers accepting your offer

5. Hide your salary requirements

Avoid giving you salary requirements early in the interview process.

But if you get asked early, deflect this question in a non-defensive manner. Explain to the employer that you’d like to understand your role better first. They’ll most likely agree with you; but if they don’t, give them a range.

The truth is great employers are more concerned about your skills and the value you bring to the company. They understand that a great employee is an investment, able to earn them more than their salary.

Remember that a job interview isn’t only for the employer, it’s also for you. If the employer is more interested in your salary requirements, this may not be a good sign. Use this question to gauge if the company you’re interviewing is worth working for.

6. Do just enough research

Research average salary compensation in your industry, then wing it.

Use tools like Glassdoor to research the average salary compensation for your industry. Then leverage LinkedIn’s company data that’s provided with its Pro membership. You can view a company’s employee growth and the total number of job openings.

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Use this information to make informed decisions when deciding on your salary requirements. But don’t limit yourself to the average salary range. Companies will usually pay you more for the value you have.

Big companies will often pay more than smaller ones.[3] Whatever your desired salary amount is, always ask for a higher amount. Employers will often reject your initial offer. In fact, offer a salary range that’ll give you and your employer enough room to negotiate.

7. Get compensated by your value

Asking for the salary you deserve is an art. On one end, you have to constantly invest in yourself to offer massive value. But this isn’t enough. You also have to become a great negotiator.

Imagine requesting a high salary and because you bring a lot of value, employers are willing to pay you this. Wouldn’t this be amazing?

Most settle for average because they’re not confident with what they have to offer. Most don’t invest in themselves because they’re not dedicated enough. But not you.

You know you deserve to get paid well, and you’re willing to put in the work. Yet, you won’t sacrifice your most important values over a higher salary.

The bottom line

You’ve got what it takes to succeed in your career. Invest in yourself, learn how to negotiate, and do research. The next time you’re asked about your salary requirements, you won’t fumble.

You’ll showcase your skills with confidence and get the salary you deserve. What’s holding you back now?

Featured photo credit: LinkedIn Sales Navigator via unsplash.com

Reference

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