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5 Successful Businesses That Started With Simple Ideas

5 Successful Businesses That Started With Simple Ideas

Many of us have heard that small business is the backbone of our economy. Mega-corporations like Walmart and Apple started off as small businesses. Some people are dissuaded to start one. They turn to statistics that say “most new businesses will fail within three years” to justify their reason for not starting one.

Starting a business is simple. It begins with an idea, some paperwork, and a storefront and/or website. However, creating a successful company is not as easy, but it can be easier when the business model is based on a simple idea. Here are five successful businesses that started with a simple idea.

1. Cheekd

Lori Cheek, the founder and CEO of Cheekd.com, started as an architect. After working 15 years in the industry, Lori abandoned the career to immerse herself in the tech world.

She was forced to get extremely creative about funding the business since she was living on her savings.

To offset her expenses, Lori managed to make $75,000 by selling designer clothes on eBay, walking dogs, doing focus groups, secret shopping, and selling her stuff on Craigslist.

She no longer wanted to build structures but rather build relationships. So, Cheekd was born. It is a dating app that makes missed connections obsolete. The app connects people in real time rather than virtual time, which allows people to begin meeting in person before continuing online.

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Her biggest break came when she got accepted to be a contestant on ABC’s Shark Tank. While her idea was shot down by all five Sharks, she left them with a message. “Trust that you will all see me again,” she said. Within 48 hours after the episode, about 50 investors wanted to invest in her business.

The New York Times has called Cheekd, “the next generation of online dating.” She has been featured in The Huffington Post, Inc Magazine, and TEDx. Cheek’d has customers in 47 states and 28 countries.

2. Air Ad Promotions

Marty Buckholt started Air Ad Promotions in 1989.

One day, he was looking through Entrepreneur magazine and came across an ad of an advertising balloon. He pitched the idea to his roommate, agreeing that he would fund the venture and his roommate would use his sales skills to start generating income.

A couple of weeks later, his roommate found a job and opted out of the partnership, leaving Marty with an advertising balloon and $3,000 less in his bank account.

When Air Ad Promotions started, cash flow was the biggest challenge. In their startup days, credit cards and lines of credit were scarce. So, besides the profits of the business, bootstrapping was the only option. However, with patience and relentlessness, Air Ad Promotions was able to make $100,000 in revenue within their first year.

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Marty attributes his success to anticipating the needs of his customers. He admits that he is still figuring things out after being in business for 25 years. However, the company now generates over 6 million dollars in yearly revenue.

3. Fundrise

Fundrise started with a simple question: “Why can’t everyone invest in real estate?” The founders, who were also real estate developers, had an idea to buy a debilitated building and convert it to a mixed-use retail and restaurant space.

Their most difficult challenge was raising capital. When they went out to search for funding sources, their prospective banks did not see the opportunity in the project. Fortunately, the founders were able to bootstrap the business for the first three years.

Despite being denied by banks, they persisted after receiving validation from the local people in nearby communities.

They earned $12,000 in their first year of business and it has continued to grow each year thereafter. Last year, the business received $35 million from a Series A round led by Renren, a Chinese tech company.

Fundrise has now over 50,000 members who have invested in 55 projects across the country and has received over 50 million from investors to fund real estate projects. They are on target to make $3 million dollars this year.

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4. Underdog

Josh Goldstein is the co-founder of Underdog, a small technology startup that started with a simple idea.

He created a simple form that took a minute for candidates to complete. He and his team of four take that information through a process of analyzing, tagging, and grading candidates. Once that process is completed, they feature the best candidates to a network of startups who in turn pay them a subscription fee.

Josh started the business in April 2014 and was determined to make his business the curated marketplace for talent. He worked for startups in the past, which gave him the experience in dealing with the stress, inefficiencies, and lack of capital.

From the start of his business until now, he remains a bootstrapper. He and his team run the business at The Founder Collective in New York City.

Underdog is doing well over $500,000 a year and works with over 120 NYC startups.

Even with Underdog’s amazing success, Josh admits that he and his team are overwhelmed with work. In the beginning, it was much worse since they were utilizing a manual process rather than their current streamline system.

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If there is one thing that Josh and the Underdog crew care about the most, it is their customer service. “We love to hear from candidates that found new jobs through our platform. And it is nice to be charging such a small fee to our customers. You can be a customer on Underdog for four years and make one hire, and it is still cheaper than using most recruiters,” Josh said.

5. Le Club Des Douze

Three and a half years ago, Alex Rizos would feature a curated selection of 12 menswear products with hopes to eventually become an online clothing retailer. “When I launched, the business was basically just an idea. I was not anxious to launch, but I wasn’t sure which direction it was going to take. Therefore, I decided to fund it all on my own to make sure that it would not cost more than I had.”

Within a year in the business, Alex took a different route and started to add content to make it resemble a blog. While the business earned him about $200 a month in the first few months and almost $8,000 within his first year, it only accounted for 10% of his income.

Alex wasn’t satisfied. He wanted to invest his current income from the business to develop it further. He pushed even harder and was able to earn a full-time income in his second year of business.

Le Club Des Douze now generates over $100,000 in annual revenue and have partnered with hundreds of independent brands.

For the aspiring business owner, Alex shares a good nugget of wisdom. “Having a vision is not enough. You need to have the drive and an action plan to turn your idea into a profitable business.”

Featured photo credit: citirecruitment via imcreator.com

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Last Updated on May 22, 2019

Ditch Work Life Balance and Embrace Work Life Harmony

Ditch Work Life Balance and Embrace Work Life Harmony

How do you usually go about your day?

Do you wake up in the morning, get ready for work, and then spend the whole day looking forward to being at home and unwinding?

We often hear about work life balance – having a good balance between work and personal time. Whilst this may sound like a smart idea, it can also imply that we should dedicate at least half of our time to work–and sacrifice time for our “personal life”.

To me, that seems…off balance. Because, the truth is, it’s nearly impossible to split your time equally between the two. And, you may end up stressing out if you’re not able to meet that expectation of balance.

Instead, why not think of having work life harmony instead?

With this mindset, you can actually integrate work into your life in a way that feels more complete. This way, you don’t need to view work and having personal time as separate.

So, how do you achieve work life harmony?

Work Life Harmony Explained

The difference between work life balance and work life harmony is pretty simple.With the former, there is an implication that you have to sacrifice your “life” for work. But, this is the worst way to go about things! How can you truly be at peace in life if you dread 8 hours of your day?

Work life harmony on the other hand, allows your work to be a part of your life. This means that you can choose to be happy both at home, and at work! Work no longer needs to be seen as the ‘bad’ or un-fun activity.

Having work life harmony also ensures you’re truly present in whatever place you find yourself.

Just take a look at Jeff Bezos, CEO of Amazon for example.

He uses a non traditional approach to work by making time for breakfast every morning with his family, doesn’t set his alarm before going to bed, schedules surprisingly few meetings, and still puts aside a few minutes every day to wash his own dishes.

He believes that all his staff should stop trying to achieve a ‘balance’ in their work and personal lives as that implies a trade off. Instead, he envisions a more holistic relationship between the two.

As the world’s richest man, he must be doing something right!

Rethink Time Management

Now, when we think of striking a balance, we usually associate it with time, don’t we? How much time are we spending at work versus how much time are we spending in our personal lives?Are we taking enough time to be with our loved ones, to do meaningful activities with others or even for ourselves, or are we just dedicating all our time to work?

This is the so-called-balance that many struggle with.

With work life harmony, we learn to rethink time management. By re-assessing how you manage your time, you’ll have a lot more of it. It’s incredible how much time can get wasted over the period of a day–especially when you’re not accurately tracking it.

Unfortunately, unless you’re consciously making an effort, your brain is not always the best at making accurate judgement calls when it comes to prioritizing. It tends to have a bias towards short term benefits and short term costs.

As there are often many more options our brains link to short term benefit; when you’re trying to focus on a task that gives you a long term benefit, that task usually becomes low priority. This is otherwise known as Priority Chaos.

In order to overcome this and be in better control of your time, identify the tasks that need the most focus to get accomplished. If it’s a big task, then it’s good to break it down into smaller bite-sized actions that will provide you with a clearer short term benefit.

When setting up tasks, give yourself a time limit. The brain has a bias towards short term benefits, and your attention span is limited, so if your tasks are going to take ages to complete, you’ll end up losing focus… and wasting time.

Once you have all your tasks written down, it’s time to prioritize them. Since you have a time limit, your focus should be on the top priority tasks. By doing this, you will already be able to get more done in less time at work!

Have Passion for What You Do

Managing your time is important in achieving that work life harmony. But, perhaps of greater importance, is loving what you do in life.One of the most effective ways to achieve a work life harmony is to really enjoy, or find a purpose, in what you do for a living. Even though everyone isn’t always lucky enough to find a position that pays them for pursuing their passion, you can strive to find meaning in what you are already doing, or pursue something new entirely!

For example, say you work at an office that sells paper. While many people wouldn’t consider this a world changing pursuit, I beg to differ. Think of all the individuals in the world that rely on paper. From creative types to quantum physics experts, your role at your workplace brings incredible value to many many people all over the world. You will have, without a doubt, helped bring a new idea into existence. Several new ideas to be precise.

So have a think about what you’re doing now. Is it something that allows you to embrace your passion?

Or perhaps you might not even know what it is that you love or enjoy doing. Why not explore and reflect on what gives you joy and contentment? Is there an area or industry that you could see yourself exploring to experience that fulfillment?

Can you find a deeper purpose in what you’re already doing?

When you’re able to find meaning in your work, you’re that much closer to achieving work life harmony.

Don’t Be Intimidated By Obstacles and Limitations

Creating work life harmony is also about understanding yourself–which includes your limitations and past obstacles–as this allows you to become more resilient.

If you never had to experience struggles, challenges or setbacks, then you would never be forced to adapt and mature. So in theory, having to face obstacles in life is actually quite necessary.

Most of us think of setbacks and obstacles as negative. Though, if you’re able to maintain an optimistic attitude, you’ll almost always have a higher chance of success of overcoming those obstacles to reach your eventual goal.

Your attitude towards setbacks will define the outcome of whether you rise from the challenge or remain stuck in it. So, in order to achieve work life harmony, it’s important to have a resilient attitude as challenges will always come your way–especially when you strive to integrate work into your life, and not a separate or dominant part of life.

Delegate When You Need To

Of course, when you want to increase productivity and minimize the time or effort spent, a great way to do so is to delegate!

If you spend a lot of time doing tasks on your own that could be delegated to others (whether at work or at home) you’re losing a lot of precious free time that could otherwise be spent elsewhere.

At the end of the day, we all have a limited amount of time. So we should all be striving to create a harmonious work and living situation where we can find meaning in all that we do.

While an overall goal may be meaningful, not all of the milestones or tasks needed to get there may be meaningful. That’s because we have our strengths and weaknesses, likes and dislikes. Not every task is going to be enjoyable or easy to complete. That’s where delegation comes in.

Delegation simply allows you to leverage time from an external source, thus giving you opportunities to increase your own quality of time. Keep in mind that delegation should be done with deliberate attention, otherwise you may end up over relying on others.

If you find that you’re running into the problem of over delegating, then it may be time to re-evaluate your motivation for doing whatever it is that you’re doing.

Embrace the Circle and Become Happier and More Productive

Living in harmony is about feeling good about the ways in which you spend your time, despite how busy you may be.Your switch from work mode to a more personal mode should be effortless. It’s about integrating your personal life and the things you love into your busy work life!

It all begins with the shift in perspective. Understanding what your passions are, and learning to be resilient, before taking a different approach to the way you manage your time and everyday tasks.

These are steps that you can start taking to move away from balance to harmony. 

Featured photo credit: Photo by Marten Bjork on Unsplash via unsplash.com

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