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How To Make The Best of a Business Opportunity

How To Make The Best of a Business Opportunity

Eminem says you only get one shot, and you have to lose yourself in the moment. This would be true if life were a comic book. Unfortunately those moments are never-ending, and there’s no such thing as overnight success. The truth is you’ll take a minimum of ten thousand shots to truly master your craft.

When you have a business opportunity, you have to make the most of it in order to get the next one. Each step counts, and maximizing each individual opportunity is the only path to winning. Don’t half-ass your future – instead follow these tried and true steps to turn a business opportunity into a successful business.

1. Turn Losses into Wins

Every winner loses, but not every loser wins. Although Michael Jordan is widely hailed as the greatest basketball player in history, he got there by focusing on his failures instead of riding the wave of his own successes. The quest to overcome losses drives all champions, both on and off the court.

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If you lose a business partner, use that extra time to find a better one. Your energy levels rise as the fear of financial problems hang over you. Pour that energy into something productive – it’ll keep your mind occupied as you better your business instead of lamenting the loss.

2. Weigh the Risks and Rewards

A few months ago, I received an invite to hang out backstage with Snoop Dogg on 4/20. Initially this seemed like a great opportunity. As the date approached, I realized the risk wasn’t worth what it was going to take to get there. While it could’ve been a great experience for a fan, it wasn’t as beneficial to my bottom line as it was to stay at an event I was due to cover.

I ended up choosing business over pleasure. I made enough money by staying to afford a VIP pass to any concert I wanted, and the content I produced got my name in a variety of publications I wouldn’t have appeared in otherwise. My inner child was disappointed, but the adult me got ahead in my business.

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When you are presented with an opportunity, weigh the risks versus the rewards. If you’re risking more than you stand to gain, you’re giving yourself worse odds than a roulette wheel in Vegas. Never gamble what you’re not willing to risk, and never bet the whole farm to save one crop.

3. Play to Your Strengths

Anyone is capable of doing anything, but we all have certain skills and talents that are more dominant than others. I’m a writer because I love to research and talk. I’m a successful writer because I understand marketing and SEO. I write online because I’m tech-savvy.

Whatever you’re good at or enjoy doing, learn to incorporate these skills and talents into your work. If you’re out and about around town, keep an eye and ear open for opportunities you can help out with. You never know when one of these opportunities will evolve into something bigger.

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4. Turn Down Opportunities that Don’t Fit

I receive business solicitations all the time. There’s no shortage of people looking for a review, plug, or assistance. As a mortgage and insurance whistleblower, it gets difficult because many people assume I’m capable of helping them keep their homes. Although I understand how your house was fraudulently taken from you, I’m not an attorney, and my hands are tied to stop your foreclosure proceedings. As much as I hate doing it, I have to turn down these opportunities.

It’s normal to want to jump on every opportunity you’re presented with. It’s even more tempting when you’re just starting out or your business is struggling. Doing anything you’re asked will lead to you taking on tasks you’re underqualified for and aren’t capable of providing the level of quality required. You may want that business connection or income, but if you’re not giving your best, it won’t last very long. Hold out for your true passion.

5. Get on Your Grind

Business opportunities don’t just show up at your door. Opportunity doesn’t knock at all – you have to look up where opportunity lives, hit the streets, stalk, and bang on opportunity’s door until it lets you in. If it doesn’t, you go around the building looking for open windows. Climb the roof and slide in through the chimney if you have to.

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Whatever you do, don’t just sit around waiting for a business opportunity. Just because you wrote a song doesn’t mean a stadium full of people will show up. Jay-Z isn’t an Illuminati – you’re just an entitled, lazy human being who hasn’t put in more than a day or two of the blood, sweat, and tears Hova put into his career. Sean Carter is a legend because he earned it, so get on your grind or get left behind.

6. Put Your Eggs in Multiple Baskets

The most powerful lesson yoga teaches is to detach yourself from the results. If you define yourself as an executive and end up in an entry-level job, you’re nothing but a phony. Just because someone you admire hit it big off a certain event or contest doesn’t mean that’s your only entry point to your dream career, and no one opportunity defines you.

If you gain a meeting with a company or entrepreneur you admire, use that as leverage to gain a meeting with even more. If Walgreens wants to carry your product, sell it to CVS and Walmart. Instead of being the person who got into one store, you’ll be the person who got into every store. It’s easier to negotiate when you don’t reek of desperation.

The business world is a wild one; you never know how things will turn out, but as long as you swing for every fence, you’re bound to hit a home run sooner or later.

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Last Updated on May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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