10 Reasons to Scrap Year-End Performance Reviews

It's the time of year when companies are holding their annual reviews, taking employees one by one into the conference room to evaluate their performances. But is this time-honored activity still relevant today?

"Many cultural practices stay around beyond their useful life, and annual reviews are one of them," says David Hassell, CEO of 15Five, a San Francisco-based software company.

Instead, Hassell says entrepreneurs should replace annual reviews with weekly check-ins: "Communication today is instantaneous and people expect a quick response," he says. "To wait until the end of the year to provide employees with helpful feedback is just too long."

While compensation reviews can be held annually, entrepreneurs would benefit from weekly performance evaluations. If you're not sure they're for you, Hassell offers five reasons why annual reviews are outdated:

1. They aren't mutual. Annual reviews are usually a one-way street, with the business owner giving the employee feedback. Weekly reviews, however, offer employees an opportunity to share their feelings.

Hassell suggests asking employees these four questions each week: What are your successes and what's going well? What challenges are you facing, and where do you need help? Do you have any new ideas that could improve your job and/or the company? How are you feeling and what is the morale around you?

The answers should take 15 minutes to prepare and five minutes to read. Employers can use the answers to provide quick feedback and engage with their employees. Hassell's company, 15Five, offers software that helps small-business owners check in with their employees, or you could do this in person or via email.

2. They don't measure the heartbeat of company. When you review your employees once a year, you get one touch point, says Hassell. Weekly check-ins provide 50 touch points.

"Annual reviews feel burdensome to those who must prepare them," he says. "Weekly check-ins are moving, lightweight and agile."

Read more: http://www.entrepreneur.com/article/230513

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Should Every Startup Do A Kickstarter Campaign?

Awhile ago, I was sitting beside the CEO of a red-hot startup that had recently launched a campaign on Kickstarter.

It seemed like an odd move given there seemed to be a lot of of interest from VCs, so I asked the CEO why use Kickstarter Clone. The answer was quick and simple: “good marketing”.

It caught me by surprise but now I can see why using Kickstarter make sense, even by startups who are within the radar of VCs.

In many ways, Kickstarter is a no-brainer. If a campaign works, it generates a lot of buzz and media coverage, as well as cheap capital.

If a Kickstarter doesn’t work, it’s still a good exercise because it forces a startup to develop a public narrative.

Read More : http://www.forbes.com/sites/markevans/2013/10/18/should-every-startup-do-a-kickstarter-campaign/

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Elance and oDesk Announce Merger That Would Create Freelancing Giant

In a move that will consolidate much of the freelance economy in a single corporate entity, online freelance work platforms Elance and oDesk announced their intent to merge, forming a new company with a yet-to-be-determined name.

The resulting company will lay claim to more than 8 million freelancers and 2 million businesses in more than 180 countries, according to a release issued by Elance. Elance and oDesk will continue to exist as separate platforms even after the merger, though no longer as rivals.

The companies anticipate that joining forces will allow them to improve technical issues, such as matching professionals with relevant jobs, while streamlining internal processes and scaling their business.

"Just as Amazon reinvented retail, and Apple iTunes transformed the music industry, we will greatly improve how businesses hire and people work online," Elance chief executive Fabio Rosati said in the release. "This merger will create unprecedented access and flexibility for people to find job opportunities regardless of their location, and will allow businesses of all sizes to more easily access the best available talent."

Read more: http://www.entrepreneur.com/article/230496

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Crowdfunding Advice You Won't Find In A Rule Book

I feel for future campaign creators who want to crowdfund their big dream and are trying hard to get it right. There they are, diligently reading advice and unearthing content, the substance of which can vary considerably and sometimes patently contradict a sure-fire tip they read just a second ago.

If you feel your research has led you to feel strapped into the seat of an unmanned roller coaster, the most generous explanation for this is that crowdfunding script is nuanced and complex, and there are few across-the-board answers to be found. (The not-so-generous explanation is that, while the Internet is a wonderful place to share, it’s also a hotbed for hotheads who have been given a very wide berth to spout with impunity.)

So, who and what is a crowdfunder supposed to believe?

First, know going in that crowdfunding can’t be reduced to a binary system of ones and zeros. The best way to decode for yourself how to make crowdfunding work for you is to bone up on the science but focus on the art.

Read more : http://www.crowdsourcing.org/editorial/crowdfunding-advice-you-wont-find-in-a-rule-book/29696

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Want to Raise Money With Crowdfunding? Consider These Tips

The law that President Obama is set to sign this week is expected to unleash a wave of crowdfunding. That promises to give some startups access to capital they wouldn't have had otherwise, but it could set up unwary entrepreneurs for a headache.

Crowdfunding is a way of raising capital that involves getting small amounts of money from a large number of investors. A new law, called the JOBS Act, changes the formerly donate-to-my-cause-for-a-tote-bag industry into a popular way for small companies to raise the cash in two ways: It allows businesses to raise money from investors in exchange for a piece of their company (equity) and it allows non-accredited investors (regular Joes and Janes like your neighbor and Grandma) to sink their own cash into startups.

If you have been quietly sitting on a business idea that you are convinced will change the world, but you have been struggling to get money to get started, this is great news. But, beware, eager entrepreneur-to-be. If you rush without caution, you could be digging your own grave. Check out these tips on how to tread safely in this new era of equity crowdfunding script.

1. Refrain from the desire to raise $1 from a million people. "Entrepreneurs should not go into this unless they have worked out, 'What is the maximum number of people I can deal with?' " says Sara Hanks, a securities attorney, and a cofounder of CrowdCheck, a startup that plans to help entrepreneurs access capital and protect their investors when the law is fully implemented. At this point, Hanks is working out of a home-office in Northern Virginia, but she has plans to open an office in Alexandria, Va.

Map out an investor relations plan. It should include how and when you are going to communicate with investors and respond to their queries. What's more, let your investors know what to expect. Otherwise, managing the relations with dozens or hundreds of investors will become overwhelming. It "risks being really distracting and very hard to manage," says Michael Greeley, general partner in Flybridge Capital Partners, a venture-capital firm based in Boston. "If you ask any public-company CEOs, their biggest gripe about the job is investor relations."

Read more: http://www.entrepreneur.com/article/223270

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Secrets to Lasting Success as an Entrepreneur

Successful people will often tell you that luck and hard work got them where they are. But under the surface, there's much more going on. People who rise to top of their fields have a lot in common. Learning what sets them apart can help you find lasting success in your own business.

Jeff Brown, a Harvard Medical School faculty psychologist and co-author of The Winner's Brain (DaCapo, 2010), studies highly successful people, looking at their brain activity and life stories for clues to what makes them unique.


Turns out, they think differently than those whose success peters out or never comes to pass. "People who are successful have learned to optimize their brains," Brown says.

He's uncovered strategies, which he calls "brain power tools," that successful people use to achieve their goals. Each tool is a way of thinking that affects your choices and actions as you work toward a goal. Taken together, they help you find opportunities, build mastery, work through failures and surpass the status quo.

Consider Brown's five keys to lasting success as outlined below. Give these tactics a try to reach your goals time and time again.

Read more: http://www.entrepreneur.com/article/227014

Get start with agriya's kickstarter clone script to begin your business more successful.

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How to Raise Cash With Crowdfunding

Crowdfunding sites like Kickstarter and IndieGoGo attract hobbyists and wannabes, but they can also net real cash for those who use them strategically. With savvy profiles and targeted campaigns, some aspiring entrepreneurs are even raising amounts in the five or six figures. Here's how they do it.

Sam Miller was so sick of not being able to find jeans that fit that he decided to start a business to solve the problem. He and his partner, Leona Liu, spent nearly two years studying how they could create a company that would deliver custom-made, U.S.-manufactured jeans at a $60 price point. They sketched out a plan for Chicago-based Civali, sourced the technology they needed and then ran into a common entrepreneurial problem: no money. At the same time, they had no interest in having "investors breathing down our back," Miller says.

The two found the kick in the pants their business concept needed from the crowdfunding website Kickstarter. They launched their funding campaign in July 2011, eventually surpassing their original goal of $29,000 and raising more than $47,000 from 404 backers.

Aspiring entrepreneurs are increasingly jumping onboard with sites like Kickstarter clone, IndieGoGo, peerbackers and ChipIn. Now, as the concept becomes more well-known, users have become savvier about creating interesting profiles, targeting their audiences and promoting their offerings. Some are even managing to raise funds in the five and six figures.

The poster boy for successful crowdfunding is Scott Wilson, who worked on his LunaTik watch design as a pet project while running his Chicago-based design consultancy, Minimal. Wilson, a former creative director for Nike Watches, conceived a wristband that would hold an iPod Nano so the device could function as a watch. He'd heard buzz about Kickstarter, but his employees scoffed when he suggested a campaign for the LunaTik design in November 2010. Wilson had the last laugh, though. In 30 days, he far surpassed his goal of $15,000: He ended up raising nearly $1 million to develop his innovative design, the largest amount of money ever raised on Kickstarter.

"People get excited about it," says Kickstarter co-founder Yancey Strickler. "They're not just buying the thing--they want to help make it happen. They feel like they get a greater piece of it."

When those creative ideas solve a popular concern or problem, all the better. Houston-based LuminAid Lab raised more than five times its $10,000 goal to develop its solar-powered inflatable light during a 40-day campaign on IndieGoGo in November and December of 2011. U.K.-based eMakershop, meanwhile, raised nearly $160,000 on IndieGoGo for its 3-D printer concept.

Read more: http://www.entrepreneur.com/article/222813

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Shaping Crowdfunding 2.0

The U.S. Securities and Exchange Commission has the delicate task of writing guidelines for the next generation of crowdfunding, so that investors are protected and yet preserving its benefits to companies seeking to raise money.

Crowdfunding has been mostly restricted to artists and business owners accepting small donations in exchange for things like tote bags and CDs. But the JOBS Act, signed last month, will let entrepreneurs sell pieces of their business (equity) to non-accredited investors via crowdfunding script. The SEC is expected to release its guidelines early next year.

The crowdfunding industry has its own recommendations for keeping investors safe without handicapping entrepreneurs. Here's a wish-list from RocketHub, a crowdfunding platform which counts small-business owners as its fastest-growing group of customers and plans to roll out an equity-based product in 2013 (contingent on the final SEC regulations).

Read more: http://www.entrepreneur.com/blog/223551

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How to Start a Business in 10 Days

With an executive staffing venture about to open, a business loan from the in-laws gnawing at her conscience and a new baby to care for, Michelle Fish was already feeling the pressure. But what really pushed her over the edge was an unexpected communique from the IRS demanding immediate payment of a "huge sum" owed from a prior business in which she was a partner. Poof! Her seed money was gone. "All the spreadsheets, all the forecasting, all the pre planning took a back seat once that bill came," recalls Fish, hearkening back to the 2003 launch of her Charlotte, N.C.-based firm, Integral Staffing.


Jeremy Ostermiller didn't need a letter to know that he had to get his Denver-based media-tech startup, Altitude Digital, into the black fast or watch his future take a dispiriting U-turn. "I knew it had to be profitable," he says. "I had put my last $500 into it, and I definitely didn't want to move back in with my parents."

A lightning-fast rise to profitability by their respective startups spared Fish and Ostermiller from going belly up. Neither has looked back since. Now a decade old, enjoying seven-figure annual revenues and flush with Fortune 500 corporate clients, Integra Staffing is the third-largest female-owned business in Charlotte, according to Fish. Meanwhile, 4-year-old Altitude Digital, which matches online content publishers with advertisers using an eBay-like bidding platform, is on target to generate $20 million in revenue this year.

Chances are, neither venture would be where it is today if not for the strategically sound groundwork laid by its founder prior to and right after launch. Trying to start a business and make it profitable in a matter of weeks isn't for the squeamish. Nor is it always advisable. But it can be done. In fact, we've condensed the process into 10 intense, highly focused days. Call it our DIY accelerator to launching a business.

Read more : http://www.entrepreneur.com/article/228659

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How to Build a Business Plan For Your Personal Brand

If you were marketing a big brand for a living, the notion of outlining an annual marketing business plan would be second nature to you. Those of us who have managed brands through the years are very much used to the process.

Every year, usually right about now actually, marketers carve out what needs to be accomplished in the next year -- how it’s all going to get done and how much it’s going to cost, with a course of action for each piece needed to accomplish the brand’s goals. This is done on an annual basis, but also on a rolling basis for one, three, five and ten years out.

When it comes to your personal brand and what you want to accomplish, you should do the same.

Start out with a simple exercise and write out your goals. It may sound obvious, but you need to know where you want to go before you can create a plan for how to get there. You can’t move year-to-year without knowing what direction you want to head in the long term.

While planning out your brand, you need to be very specific about your goals. What do you want to accomplish, both personally and professionally over the next few years? What do you want, both short-term and long-term?

This exercise may seem obvious, but it’s not always easy.

Do you want to have children? Do you want a life partner? Where do you want to live? What kind of company do you want to work for? What do you aspire to do in your chosen field?

Read more: http://www.entrepreneur.com/article/229551

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How to Create a Successful Local SEO Strategy

When planning a local SEO strategy it is important to fully understand the different components that are all instrumental in delivering high local rankings in the search engines. When done correctly, local SEO can deliver the most highly targeted consumers to both the business website and to its physical business location.



As search inquiries on smartphones continue to increase daily, it makes local SEO crucial to being found on mobile devices. A properly executed local SEO plan can ensure that consumers searching on both mobile devices and personal computers find your business. For the best local SEO results, make sure to incorporate the following into the campaign:

Proper Keyword Research: It is important to identify the keywords that will result in a conversion (an online purchase, phone call to the business, or a physical location visit) rather than just focusing on the keywords with the highest search volume. High search volume doesn’t always result in high ROI.

Onsite Optimization: Once the keywords are identified, make sure that the website is properly optimized for the chosen search terms. The title tag, meta description, images, and header tags all need to be adjusted for the targeted keywords.

The website content needs to be written for the visitor instead of stuffing the website with the main keywords. The days of keyword stuffing are long gone, so write for the visitor and optimize for the search engines. Make sure to also include a contact page on the website that contains the business address and contact details.

Read more: http://www.entrepreneur.com/article/230036

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Kickstarter and the three rules of long tail

Kickstarter, the poster child of the reward-based crowdfunding industry, is quickly becoming a household name.

Part of what has made Kickstarter so successful is its ability to tap into the long tail — a concept outlined by Chris Anderson in a 2004 Wired article.

The long tail has allowed niche products to flourish in the internet age. Consider, for instance, the resurgence of vinyl records, which have been made nearly obsolete by tapes, CDs, and digital distribution. Vinyl sales are at their highest since 1997, largely thanks to the ability of consumers to make clear that there is still demand for the medium. Indeed, the Universal Music Group has been so intrigued by the resurgence that it’s launching a re-pressing service powered by crowdfunding script.

Kickstarter, as Max Macaluso and David Gardner of the Motley Fool recently reminded us in the video below, is almost an inevitability of the internet, a service that perfectly positions itself to profit from the long tail.

Read more : http://www.crowdsourcing.org/editorial/kickstarter-and-the-three-rules-of-the-long-tail/29454

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