Category: Entrepreneurs

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5 Start-up Mistakes To Avoid

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Starting a  business can be a roller-coaster experience. Even the most seasoned entrepreneur has ups and downs when starting a new company. As a new business owner, your best strategy is to plan for mishaps while avoiding as many as possible.

There are many missteps you should watch for, but some are more common than others.

    1. Failure to use the Right Business Structure

You have several choices for registering your business. Some of the most common are:

      • Corporation
      • Limited liability company
      • Sole proprietorship
      • Partnership
      • S corporation

One of the simplest entities to set up is an LLC. It has various benefits for your company, such as flexibility, limited liability, tax advantages, and less paperwork than a corporation. If you decide an LLC is the best structure for you, check the rules in your state before moving ahead. States have different regulations regarding LLC formation. If you’d prefer to let someone else handle the upfront work, you can save on lawyer fees by using a formation service.

 

    1. Failure to Plan a Product Rollout

A new product rollout can be a risky venture. At the same time, it may be vital to your growth. With so much at stake, it’s worth taking time to get it right. You could face a launch flop if you rush the process along or fail to plot each step.

Try using an online product roadmap template to make your product unveiling a success. This tool can help you outline your strategy and the steps to create a product roadmap. It can also organize each team member’s assignments. A template simplifies the process. You can:

      • Assign priorities to tasks
      • Create themes
      • Set deadlines and goals
      • Understand customer pain points

 

    1. Failure to Lead

Not everyone realizes the number of executive decisions you make as an entrepreneur — even without employees. Your company’s fate often lies solely in your hands.

Assess your weaknesses and strengths. Determine if you have some of the essential leadership abilities:

Consider taking online courses or hiring a consultant from ITB Partners specializing in leadership development.

    1. Starting a Business With Family and Friends (Without Thinking It Through)

For some families and friends, going into business together works well. However, that’s not always the case.

Opening a “mom-and-pop shop” doesn’t have to be a recipe for failure. Before you do so, ask yourself a few tough questions, including:

      • Do you have compatible business values?
      • Do you have clearly defined roles?
      • How would it affect your relationship if your enterprise failed? According to statistics, about half of all new companies survive the first five years.
      • Are you capable of overriding your emotions when you need to make impactful decisions?

Finally, keep in mind that the market fluctuates. Along with it, your business may experience inconsistencies. These factors can change the dynamics of your working relationship as the balances of power or responsibility shift.

    1. Underestimating the Competition

Even if you have a unique offering, consumers have alternative solutions. They can choose another product or just buy nothing. Tips for getting their attention include:

      • Providing a customer-centric experience by making your business about them, not your product
      • Establishing your credibility by being transparent and following through on promises
      • Highlighting why your product is different than others or why your customer can’t do without it

If you can learn from your mistakes while avoiding the big ones, you can successfully get your company off the ground. Preparation combined with some training can be your best bet as you set off on your entrepreneurial adventure.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

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We Fired Our Cleaning Service!

It is not easy to land a new customer. And it takes work to maintain a relationship over time. That is why customer retention is so vital for business continuity.  Given that, it is understandable that I was so baffled by this week’s events. We fired our maid service Thursday. Well, they fired themselves.

Thursday night, my wife began receiving text messages from the maid service owner. Her texts included photos and videos of our home’s interior. She demanded that we pay an additional $45.00, 33% of our regular fee, because they cleaned up a construction area. What incredible hubris. It was a strange situation. Our regular maid had a doctor’s appointment, so they sent a replacement who was unfamiliar with our home. She took the videos while she was working. I have zero tolerance for that kind of behavior from a vendor. Someone taking a video inside our home while conducting a service, in my mind, is grounds for immediate termination. Not only is that an invasion of privacy, but it is also a significant security issue. However, my wife is a bit more polite than I am. She let the vendor make her case.

However, the result was the same as my wife decided to terminate our relationship. The entire conversation and ultimate termination were made entirely by text messaging. Not an ideal situation. Unless the vendor intended to cancel our service, for whatever reason, this should’ve been a voice conversation. Resolving differences via text is seldom a good idea.

Two significant projects are in process on our home, but they had a minor, if any, impact on the maid’s workload. First, we are remodeling our master bathroom. We completed the demo work in that area over three weeks ago. The next phase of that project will begin shortly. The maid did not have to clean that area, nor was it a contributing factor to any additional work. She was not cleaning a construction area.

Secondly, we are refinishing our basement, turning that area into a very spacious apartment. That area is not a part of our cleaning contract. Admittedly, that project kicked up a bit of dust this week as we had to cut concrete to prepare the plumbing for the bathroom. Before the maid arrived, we dusted the house and used the Swifter system on the floors on the main level. The cleaning job was the same as any other visit.

Small businesses are having difficulty with staffing issues that may or may not be related to Covid–19. I get it. Last month we had another service clean our windows, inside and out. The owner of that company did the work himself. He told me that nobody wants to work. Even so, he was pleasant and did a good job. I told him that we would use him again. He certainly did not try to gouge me because our home is an alleged construction site. The issue with our maid service was a different story.

The vendor intended to extract additional funds from us as she believed that our home was involved in extensive renovations. She had asked what we were doing before the maid arrived. My wife explained the situation, and we thought that was the end of the discussion. Then the text messaging began Thursday evening. Whatever trust we had with this vendor was destroyed in a few short minutes. Friday morning, we received another text from the vendor. She apologized for doubting our situation and asked that we continue using her service. My wife decided not to respond immediately. She wanted to sleep on it.

I view the vendor’s behavior as a case study in poor account management. If she had legitimate concerns that our expectations were beyond the scope of the agreement, she should have requested a meeting in our home. She would have gained first-hand information about the situation. We would welcome that approach. But that is not the way she proceeded, far from it.

Customers, particularly long-standing customers, are an asset to be protected. You don’t want to lose one needlessly. If you have a dispute or a disagreement, ensure that you work towards a resolution thoughtfully and professionally. This situation was not a big deal in the grand scheme of things, but we will remember it.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

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Leverage Your Time and Grow Your Business

Over the holidays, I was able to catch up with my friend and colleague, Stan. He often calls me when he is on a road trip. This time, he was traveling through Kentucky to work with a client in northeastern Ohio. As with most of our conversations, this was wide-ranging, including personal and business-related topics. We talked a little about Covid-19, politics, scotch, and cigars, and of course, Football. When we talk Football, it’s NCAA Football in general and the SEC.

Eventually, the conversation turned to our respective businesses, which occupied the remainder of our time. Stan’s business is booming! He is unique among Independent Consultants as he doesn’t suffer the feast or famine cycle. He has a strong network that feeds him new business regularly. That is the good news. The bad news is that he would like to retire. The revenue has been exceptional, however. So good that it has crowded out any recent consideration of retirement. But now, the workload is starting to take its toll. Also, he has other interests he wants to pursue. So, we chatted about him getting serious about making a transition toward retirement.

I asked him if he’d ever thought about taking on a protégé or two. It wasn’t the first time I raised that issue with Stan. He’s never been too keen on the idea, however. He believes that his network refers business to him because they know his capabilities and the quality of work he delivers. I agree with him in that assessment as far as it goes. But I seriously doubt that anyone expects Stan to do all the work himself. I told him that I believe he is laboring under the mistaken belief that his referring agents expect him to do all the required work himself. I am not buying it! Although the client expects results, they are not so concerned about how he achieves those results, assuming there is minimal disruption to their daily routine. Share on X I would wager that if Stan asked his network, they would agree with my assessment.

Leverage Your Consulting Projects

    • Employ Subcontractors
    • Train Subcontractors to become protégées
    • Offload lower value-added work assignments
    • Provide quality control and oversight
    • Expand the business while working the same hours or less

The apparent solution to Stan’s dilemma is to find subcontractors to perform the work under his direction. Employing subcontractors would give him more free time. Early on, Stan may be required to train these folks to complete the job to his expectations. However, once trained, Stan can work with the subcontractor to plan the scope of work, then let them execute the plan. Of course, Stan would provide oversight and direction.   He would be the account manager, providing supervision and quality control.

Another way to approach winding down would be to divide the workload between high and lower value-added activities. Stan could assign the lower value-added activities to a subcontractor or protégée while taking on the more significant value-added workload. Again, he would free up his time while developing a resource to aid him in his transition.

Most independent consultants would be delighted to have Stan‘s problem. Instead, many fight the feast or famine cycle, trying to smooth out the peaks and valleys while growing their business. Often, these folks are not marketing themselves at the most basic level. However, they can still benefit by developing protégés or subcontractors to help them leverage their time during the cycle’s peaks. Better yet, they should consider marketing their services to someone like Stan, who needs help. They should consider growing their business by seeking work as a subcontractor.

Summary and Conclusion

The fundamental question Stan must resolve is, does he want to retire and close his business entirely, or does he want something that continues to generate income throughout his retirement? Then he must determine how to transition from one state to the next. Stan has an enviable position. He can afford to close his business and live comfortably. On the other hand, if Stan could maintain the business with minimal effort, there would be an additional source of cash flow to enhance his balance sheet. Furthermore, he would have an asset to sell or leave to his heirs. Stan has some exciting prospects to consider.

For more reading on growing your independent consulting business, check out these links.

https://www.mbopartners.com/blog/how-grow-small-business/how-to-grow-your-independent-business/

https://www.mbopartners.com/blog/how-grow-small-business/how-to-grow-your-independent-consulting-practice/

https://www.mbopartners.com/blog/how-grow-small-business/how-to-stay-competitive-as-an-independent-contractor/

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

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Before You Start a Business, Consider This!

So, you want to own a business.  You have an idea for a product or service that the market needs. You want to be rich.  You have studied other successful startups and understand the factors for success.  You have moved past friends and family who have tried to dissuade you from your goal.  You have the funds and a plan to get your business off the ground. You are confident of success.  But have you considered everything you need to know?

Many successful entrepreneurs begin by forming a Board of Directors.     An Advisory Board will provide a broader perspective, improving the effectiveness of your decisions.   The advice you receive will minimize costly mistakes which could otherwise doom your business. Board members may receive a stipend, or they may be volunteers. Voluntary advisory boards have become commonplace for many startups. Talking with organizations like Score and finding a mentor are additional resources to consider.

Find Low-Cost Ways to Advertise

Now Hear This!

Getting the word out about your business doesn’t need to cost much money. Begin by establishing an online presence. Potential customers will want to visit your website.  Be proactive.  Provide answers to common questions, making it easier to convert their interest into sales.  If you have not done so already, create social media channels for your brand. Facebook and Twitter are popular places to start. Depending on the demographics of your target market, you may want to try others, too. If you are targeting older individuals, a direct mail campaign could be the most cost-effective solution.

Consider Running a Special

 To increase the probability of generating a sale, offer a special one-time deal, like a two-for-one promotion or a gift. You might do the same for current customers who refer friends or family members. When someone purchases your product or services, please give them a reason to continue trading with you.  Consider offering discounts for future purchases. These sales tactics can kickstart your business and give you the financial boost you seek.

Determine Which Functions to Outsource

 Savvy entrepreneurs know that managing labor is a critical component for success.  They live by the principle of “do what you do best and let others do the rest.”  We are fortunate to live in a time when we can contract relatively inexpensive outside resources.  To ensure accuracy and minimize risk, outsourcing financial management and payroll is advisable. Outsourcing recovers time to focus on more urgent tasks. Using an automatic payroll solution provides other benefits, like automatic calculations and paying taxes. Payroll apps are  available for both iOS and Android. Taking on too much responsibility can lead to burnout and costly mistakes. Think about outsourcing to reduce stress and improve your productivity.

 

 Improve Your Business Acumen

 As your business grows, your focus will shift to your management and leadership skills. Taking college-level business courses or earning an MBA could be a difference-maker. Unlike a traditional college experience, online degree programs make it easier to maintain your business while you learn.  Continually update your skills to ensure long-term success.

Adjust Your Business Plan as Needed

Although business plans look good on paper, actual results seldom unfold as envisioned. You must monitor your results consistently and adjust accordingly. Share on X Be flexible and willing to take steps to keep your company on track.

Financial setbacks can happen to anyone.  They can be incredibly distracting when you are trying to establish a new business. You may feel discouraged and lose confidence in yourself. Well-meaning family and friends may pressure you to get a traditional job and forgo your dreams altogether.  Don’t let setbacks discourage you from pursuing your dreams of entrepreneurship.  Expect to suffer difficult situations.  Build contingencies into your plan to weather challenging times.

New Century Dynamics provides excellent executive search and management consulting to the service industry. To learn how New Century Dynamics can help your business, contact James E. Weber at JimWeber@newcenturydynamics.com.

Derek Goodman

derek.goodman@inbizability.com

Image via Pixabay

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

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Good Management Habits for Ongoing Business Success

As a small business owner, you are constantly alert for new ways to grow and improve your company. You know that your business success depends on your ability to plan well and wisely and stave off potential problems. So, what are the guiding principles you should follow to maintain optimal performance? In this article, Jim Weber, Managing Partner of ITB Partners, reveals how successful entrepreneurs stay ahead of the game.

Be a planner.

Goal Setting

Good business management is a continual cycle of planning. Before you even launched your company, you had to draw up a comprehensive business plan. And planning needs to be ongoing. Even if it feels as though your company can run on autopilot, it does not mean that you discard sound management practices. Your management system should include periodic financial forecasts with appropriate adjustments to remedy deficits to the plan. As Zenbusiness explains, failing to have a good plan in place is a common mistake that small businesses frequently encounter. So, avoid this pitfall by having everything organized and mapped out.

Be a Leader.

Your leadership skills may be the most critical part of successful management. No matter how great your vision, no matter how positive your workplace culture is, it is not possible for a company to thrive in the long term if it lacks clarity, discipline, and recognition. Poor leadership tends to trickle down from management into every part of a business, with devastating effects. You can maintain a high level of performance by using business technologies that help you schedule tasks, manage projects, keep track of inventory, communicate with team members, and recognize desired behavior.

Be a listener.

Have you ever had the experience of dealing with someone who didn’t seem to be listening when you spoke with them? Or someone who never seemed to embrace your message? If so, you know how frustrating this can be, whether in business or your personal life. Don’t be that person: make a point of listening to what your partners, advisors, clients, and team members have to say. Practice active listening, addressing their questions or observations directly. Active listening fosters a culture of creativity and responsibility.  Make a sincere effort to hear, respect, and understand your team’s concerns.

Be flexible.

The logical progression for a leader is the willingness to change when necessary. Share on X Change can be difficult when you are committed to a belief system or a particular course of action.   And no, you shouldn’t deviate from your plan for just any minor issue. When it becomes clear that your goals are at risk, altering your plans is good management. Remember, good leadership means owning and correcting your mistakes.

Be current.

Good management also means staying abreast of current trends in finance, marketing, and technology.  Business intelligence must be a team effort.  As professionals, each of your department heads should be current in their field.  They should share their learning, and you should update the company’s plans accordingly.  As their leader, you must ensure that your team has access to high-quality information and resources to perform at peak capacity.

Be a good Corporate Citizen.

Failure to follow the laws and regulations that govern business activity can be costly.  As a leader, you must work within the framework of employment law, permitting, licensing, taxation, among others, to ensure the success of your business.  One area where new business owners risk expensive fines and penalties is in payroll tax compliance.  Minimize this risk by using a sound payroll system with competent oversight. It’s also essential to choose the proper legal structure for your business. For many small business owners, a limited liability company makes the most sense, as it reduces paperwork and may yield tax savings. Save time and avoid added expenses by having an online service register your company as an LLC.  Your lawyer and accountant can guide you in this area.

Think of good business practices as pillars supporting your business.  Make sure your whole company understands and embraces these principles. By doing so, you will improve the likelihood of continued success and increased profitability.

Derek Goodman

derek.goodman@inbizability.com

Image via Pixabay

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

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How to Staff an Emerging Company

I work with many startups and emerging brands. They have become the core of my business. It gives me great satisfaction in helping them with their recruiting needs. When my colleagues and I created ITB Partners, our strategy was to focus on this sector. Companies in this phase of their life cycle face decisions that carry significant risk. One or two bad choices can sink an otherwise viable company, even if they have proof of concept. We believed we could help emerging companies achieve success by avoiding business-killing mistakes. Recruiting new employees is one of those high-risk activities.

A growing company will eventually need to increase its staffing level. They must approach this high potential risk with caution. For many of my clients, i.e., emerging brands, the first consideration is to find an outsourced solution. Many job functions can be outsourced, including accounting and human resources. A recent client had even outsourced most of their marketing function. However, a viable outsourcing strategy requires a strategic-level employee on staff to manage the outsourced function.

A good example is to hire a Controller or CFO to manage the outsourced accounting function and interface with the financial community and investors. Mission-critical job functions probably cannot and should not be outsourced. Early on, outsourcing non-mission-critical job functions may be a better use of a company’s resources. It is also a valuable way to reduce the risk associated with an expanding workforce.

Some Pitfalls.

    • Adding too much staff too soon.
    • Failure to use outsourced solutions
    • Lack of prioritization of positions to fill
    • Lack of processes for recruiting and selection
    • Lack of training for interviewing and selection
    • Lack of a coherent reason why someone should join your company

Recruiting for startups is different from hiring for a going concern. As I say, the risk is more significant. The costs for hiring a non-competent employee or someone whose behavioral issues negatively impact the culture may significantly affect a small company. Established companies have less difficulty attracting good employees.  They have people, processes, and systems to ensure an effective recruiting and selection process and lower risk profile.   They have an established culture and look to fill positions with people who reflect their mission.

Small, emerging companies have fewer resources, are less political, and have a bias for action. Speed rules! Entrepreneurs often have unconventional management styles. They can be chaotic. Employees working in these environments must demonstrate a high degree of flexibility and adaptability. Job roles have a wider scope, requiring employees to have a broader experience. It requires employees with greater self-confidence who are comfortable in an ambiguous, less-structured work environment. Many entrepreneurs lack training in recruiting, selection, onboarding, and retention. Job descriptions are challenging to create as ideal candidate profiles, and behavioral components may be more important than skills and experience. Finally, an emerging company may have more difficulty selling employment opportunities as their brands are unknown.

What to Do?

    • Begin with a plan!
    • Set staffing priorities w/timeline for hires
    • Can function/position be outsourced?
    • Establish processes for recruiting, selection, and onboarding.
    • Determine training needs of key managers and decision-makers.
    • Determine selection criteria (skills, experience, cultural fit)
    • Determine employer’s Unique Selling Proposition – Why should I join this company?

Let’s assume that you have a process in place to determine if a function should be covered by a contractor, an outside resource provider, or to hire W-2 employees. You have determined that you need a significant addition to staff in one or more mission-critical areas. Your solution is to hire employees to meet this need. How should you proceed?

As with any initiative in business or life generally, a successful outcome usually begins with a plan. Actionable data is required to develop an effective plan. So, what is the information you need? First, understand the work to be done and the importance of that work to the current year P&L. In other words, a cost-benefit analysis for each position you need to fill. This information provides the priority for filling each position.

The second consideration is the capabilities of the people involved in this project. One of the most significant issues I encounter is the lack of training and development among the people managing the recruiting and selection process. Share on X Often, they do not have the skills and experience to create and execute an approach that works. It is a common problem among emerging companies. To compensate, I must devote my time to help the client build those skills. If recruiting and selection skills are in doubt, consider training and development and the use of outsourced resources.

To summarize, you have determined that increasing your company’s employment base is necessary for growth. But adding employees carries risk. You understand that minimizing this risk is critical to your company’s survival. Fortunately, you can mitigate this risk by improving the skills of those responsible for recruiting and selection. The solution is to find a consultant or a program that will give your managers the training and development they need. The cost of failure in this regard cannot be understated.

Other Articles to Consider

https://thenextweb.com/news/hiring-mistake-marketers-early-stage-startup

https://www.bostonglobe.com/2021/07/31/business/nothing-actually-changes-boston-tech-workers-color-blast-sectors-attempts-be-antiracist/

https://www.entrepreneur.com/article/372420

https://www.entrepreneur.com/article/370136

https://www.benefitspro.com/2021/02/09/recruitment-needs-to-evolve-for-startups-heres-why/?slreturn=20210706113217

http://hrnews.co.uk/4-ways-to-simplify-recruitment-in-startups-in-2021/

https://sifted.eu/articles/hire-people-person/

Thank you for visiting our Blog!

Jim Weber – Managing Partner,  ITB Partners

Jim Weber – Managing Partner, ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

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Rapidly Growing Direct-to-Consumer Subscription Meal Delivery Company seeks Head of Marketing.

POSITION SYNOPSIS:
As a key member of the senior leadership team, the highly entrepreneurial Head of Marketing will drive the development and execution of a comprehensive marketing plan and growth strategy to align with the company’s objectives. The position oversees the organization’s branding, digital & traditional marketing, partnerships, event planning, public relations, community outreach programs, and customer experience group.

Key qualities for success include:

● Entrepreneurial
● Can get things done tactically while moving a business forward strategically.
● Has successfully built a team, in a phased approach.
○ Balancing readiness for the investment against spend for agencies.
● Understands and believes in holding consultants accountable via contracts with performance metrics.
● Understands that a budget is a guideline, everything must be evaluated as time and direction change.
● Is fanatical about the numbers — especially about CAC and conversion
● Ability to shift between tactical and the strategic
● Has managed an e-commerce DTC brand – either someone from food
delivery or someone who comes to the table with great ideas on how to
apply their experience to food/meal delivery.

KEY RESPONSIBILITIES:

● Work collaboratively with other members of the leadership team to define objectives, KPIs, develop budgets, strategies, and achieve targets in line with founders’ vision and the company’s mission
● Lead development and execution of a differentiated, consumer insight-driven brand strategy.
● Diversify the mix of digital and analog acquisition channels to more effectively target prospective higher affinity customers, increase conversion and LTV, reduce CAC, and scale.
● Monitor and optimize the payback period of each cohort of users making the necessary adjustments in the quality of acquisition.
● Set up frameworks to create successful funnels. Design an acquisition mix that is truly user-centric and leads media buying to bring traffic that converts to new users that meet our growth targets.
● Design, develop and execute formal customer retention strategies and programs.
● Identify and engage key strategic partners to increase brand awareness and drive growth.
● Develop and manage the consumer-facing digital and offline experiences.
● Oversee the company’s customer experience group
● Develop value-add presentations to engage key internal stakeholders, investors, and partners.
● Drive company vision, messaging, and brand consistency; instill a growth-minded culture.
● Full P&L responsibility for the marketing department
● Recruit and lead talented internal and outsourced teams

QUALIFICATION REQUIREMENTS:

● Minimum 10 years of marketing experience, and a successful track record formulating and leading marketing strategy, implementation, and team building for direct-to-consumer e-commerce companies.
● 5+ years of marketing experience driving customer acquisition across marketing channels (PPC, Display, Paid Search, Paid Social, Retargeting, etc) – startup experience preferred.
● 5+ years of marketing leadership experience
● Subscription experience is preferred
● Experience working with ad-serving platforms and digital monitoring tools, as well as offline marketing tools and strategies as well.
● Experience in leading and managing A/B testing, embedded media, and marketing program optimization
● Demonstrated data insights (KPI’s, traffic, revenue, conversions, ROI) to improve marketing efforts
● Demonstrated interest and/or experience working with or coaching a fast-growing company.
● Excellent oral and written communication skills with the ability to effectively communicate with and influence colleagues at all levels.
● Excellent eye for design and can understand and interpret design language (digital and analog), experience managing designers, developers, and agencies.
● Sense of urgency in assisting the brand to navigate the ever-changing landscape to commercialize opportunities.
● Strong leadership, talent mentoring, and talent development skills.
● Enthusiastic, can-do approach, with the ability to prioritize effectively in a rapid-paced environment.
● Self-motivated with critical attention to detail, deadlines, and reporting.
● Bachelor’s degree in Marketing, Communications, Business Administration, or related field of study. MBA Degree preferred.

Compensation and Benefits

● This position is an “at-will”, full-time, salaried, exempt position. The salary will depend upon the candidate’s relevant experience
● Competitive benefits are available – medical, dental, vision, life, disability, and 401k

Location

We work in the East Coast Time Zone. The majority of work is remote. Available for periodic meetings – after the pandemic in greater NYC. Relocation expenses are not available.

The Company is an equal opportunity employer. We value a diverse workforce and an inclusive culture. We encourage applications from all qualified individuals without regard to race, color, religion, gender, sexual orientation, gender identity or expression, age, national origin, marital status, disability, and veteran status.

Ideal Candidate Profile

    • Who comes from a Tier 1 D2C Meals Company that has grown to become a market/sector leader:
      HelloFresh
      Freshly
      Factor
      Tier 1 D2C Consumer Brands:
      Magic Spoon
      Stitch Fix
      Allbirds
      Warby Parker
      Away
      Bonobos
      Glossier
      Casper
      Harry’s Razors
      Dollar Shave Club

Or Tier 1 Early Stage Branding Agency who has helped companies like the
above ideally early on that led to a growth inflection point: e.g. Red Antler.

We need a marketing person who can do this:
https://prezi.com/2mcy25316bkn/factor-75-marketing-overview/

Speaks like this (regularly in podcasts and interviews):
https://www.youtube.com/watch?v=_CAe2X65Wfg

And who has the creative foresight and nuts and bolts e-comm
experience to create this: https://www.needleseyemedia.com/

And who comes from an e-comm business that we aspire to
emulate.

Jim Weber – Managing Partner, ITB Partners

For more information, contact Jim Weber, President
NEW CENTURY DYNAMICS EXECUTIVE SEARCH
JimWeber@newcenturydynamics.com

 

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“What’s Your Plan B?” Are You Cut Out for Self-Employment?

Join me and the “What’s Your Plan B?” Executive Development networking group for this informative, interactive online discussion.

Am I Cut Out for Self-Employment?
Thursday, June 24th
8:00 am ET (45 min + Q&A)
FREE event (join at 7:45 am for networking)
RSVP – click here

While the autonomy and flexibility of self-employment are appealing, how can you know if it’s for you? Can you achieve your desired success as your own boss? What are the risks and rewards? What are your available options? If you are considering self-employment, or find yourself at a career crossroads, this session will answer:

  • Common traits of successful, happy self-employed professionals.
  • Pros and Cons of Acquisition, Consulting, Franchising, and Start-ups.
  • Affordable funding options.
  • Free resources for new business owners.
  • The COVID-19 impact for considering starting a small business (benefits and challenges) will be discussed.

Want to chat with me now? Please use my scheduling link to choose a time to take my call: https://calendly.com/leslie_kuban
To your success,
Leslie

Leslie Kuban
Franchise Consultant | Franchise Owner | Best Selling Author | Speaker

Leslie Kuban, CFE
Market President
FranNet
Mobile: 404.236.9115
Office: 770.579.3726

 

Posted on

You Are Destroying Business Value, Just Pay the %^$*^R and Move On!

Business owners working on exit planning and maximizing the value of their company for sale often take a wrong turn. Litigation is a nightmare. When we work with owners to sell their companies and advise on the value-building process, we find they are sometimes destroying business value without realizing the extent of it.

We are human beings – we get into disputes. This is America – people sue people. If you have been through business litigation of any sort, you know it is not pretty. In the end, it’s rarely worth it. You may be in the right, there may be real damages or loss of money, and darn it, they should pay!

Certainly, there are situations in which you cannot avoid the dispute dragging on. It may be a substantial amount of damages or it may be a more complex situation tied to other potential liability. Often, however, the relentless, unending fighting – especially going all the way to court – can reduce the value of your company. If each year over a few years you are paying $100,000 in legal fees and your net income takes a hit of $100,000, the reduction in business value can be in the hundreds of thousands of dollars.

    • Revenue Decline: There is no question that you will be distracted by the process. Even with your attorneys handling much of the work, it will always be on your mind. Stress grows and you will have a less-than-100% focus on growing your business, exit planning, and building value for a sale. Revenue will suffer.
    • Bad Decisions: You will – consciously or subconsciously – adjust the decisions you make away from your best course of action because of the ongoing dispute and its implications.
    • Attorney Fees: They add up very quickly – quite possibly ending in more money than it would have taken to just pay the *$*&* and get it behind you to focus on value growth.
    • Brand Damage: The longer the fight continues, the more likely this will get out to hurt your brand and image, even if you are right!

 

36 to 53 percent of small businesses are sued in a given year.

~4 Small Business Statistics About Lawsuits – SmallBizDaily

So just forget it?? Well, sometimes, yes, as much as it pains you. Work with your attorney to make a fair offer, even go a little higher to get it settled! The investment can be worth it!

There are great attorneys who know that doing right by their client is to quickly come to an agreement. Make sure your attorney is not encouraging you to fight without considering all options, the financial implications, and the effect on business value. Consider the options, despite your frustration. You may be on the right side of the dispute but don’t reduce the value of your business any further.

Don’t let one of these issues delay or derail your exit planning, value-building, and the sale of your company. Resolving these issues quickly will help you maximize value and move through the business transaction process more smoothly and quickly.

Call if we can help you think through your specific situation. Always happy to have a conversation to provide some guidance on the business sale process, business value, exit planning or building value for sale.  

 

David Shavzin, CMC, Exit Strategist

David Shavzin

Transactions, Value Growth, Exit Planning, Succession Planning

Founder and President, The Value Track, Atlanta, Georgia
Co-Founder and President, Exit Planning Exchange Atlanta

 

 

 

 

770-329-5224

david@GetOnTheValueTrack.com

Our BLOG // LinkedIn // www.GetOnTheValueTrack.com

 

Posted on

Why own this IT Services franchise? Find out…

Businesses and consumers cannot be without their technology systems and devices working properly. If you are interested in having your own business in a high-demand industry then join me…

Wednesday, March 10th, at 12:00 pm EST, I’m hosting a 20-minute, online presentation about a compelling IT Services franchise opportunity – click here to save your spot.

Why is this IT Services franchise opportunity special?

    • The parent franchise company is one of the strongest organizations in franchising today. The marketing and lead generation department alone houses 30 professionals dedicated to driving brand recognition and customer growth.
    • No IT Background is necessary – franchise owners execute the marketing plan, focus on scale, and oversee the P&L – they do not work in the field.
    • Executive model – franchise owner oversees a small, professional staff.
    • Multiple commercial service offerings.
    • Multiple consumer/home technology offerings.
    • Automated back office/admin in place.
    • Modest upfront investment and overhead.
    • Recurring revenue model.

Can’t make the live event? No worries! It’s going to be recorded. To receive the replay – sign up here.

You might be thinking… ”I don’t have an IT background, so how could I possibly own an IT services business?” This is often surprising…less than 25% of successful franchise owners have a background in the industry of their new business. Franchising is designed for new business owners to thrive in a new industry with less risk.

Want to chat with me now? Please use my scheduling link to choose a time to take my call: https://calendly.com/leslie_kuban

To your success,
Leslie

Leslie Kuban
Franchise Consultant | Franchise Owner | Best Selling Author | Speaker

Leslie Kuban, CFE
FranNet
Mobile: 404.236.9115
Office: 770-579-3726
Learn how I help my clients – watch here