About a year ago, I was talking to a friend who expressed interest in pursuing music as a full-time occupation. One of the most valuable information I offered was to find the fans that are true, die-hard fans; they are the ones that will do the selling and attract others ‘to your cause’. This is true for business marketing as well. The article, “Superfans: The Secret Weapon In Marketing” in Forbes-YEC outlines the importance of superfans, or mavens (expert or connoisseur) as they are identified in the article, and how to galvanize and leverage their talents and influence through social media, into a marketing strategy that’s effective and measurable. Happy Business!
I read an article this morning in the Forbes-YEC titled, Six Lessons Learned From Turning My Passion Into A Business, and thought about the many business ventures I’ve had, mostly in partnerships.
During the mid-90’s, I helped a former high school friend jump-start his underground music label. It was exciting and new-in the beginning, but soon it became apparent that our love for music was quickly turning into…WORK. For almost a year, I poured myself and talent into growing this business; identifying and chasing down opportunities to promote our music became my mission, and I was good at it. I was able to get our less than studio quality recordings into rotation during a time when the genre we produced was underrepresented in our region; and this was no small task. But all the same, I loved it.
Towards the end of the year, things started to change ; I started to change. I no longer yearned to perform those tasks I so early took on earlier in the year. Dare I say it, I was burned out, and I had started to find reasons why I should walk away as we were beginning to get noticed. What I realized years later that I hadn’t when I “resigned” was although I loved and still have a huge passion for music, that passion has to be in alignment with the “corporate” passion and mission. Blind passion alone is never enough. It has to be healthy and a proper fit for the company to experience real growth and success. Properly aligned passion allows you to
- work beyond the burn-out
- strengthen your weaknesses through alliances and teambuilding
- find motivation through focusing on other areas of the business
- recognize when there is misalignment and have the courage to make any needed changes.
I could go on, but the Passion lesson strongly resonated within me, although the other lessons are equally as good. There is no doubt that other lessons can be included for the striving entrepreneur, but the lessons listed in the article are a good start.
Keep Moving Forward and Don’t Stop Believing!
The American Institute for Certified Public Accountants, AICP, have proposed a new framework or alternative reporting practices that should make life, and business a little easier for the small, privately held, for-profit business owner.
Working with financial documents-even for a small amount of time, can cause the average person to become frustrated and just a little overwhelmed. I’ve often said that CPA’s are a special breed, with their ability to keep up with the guidelines and regulations required to be GAAP compliant. This new framework, well, why don’t you read for yourself, the article, “New Accounting Framework to Ease Burdens for Small Businesses”. It’s definitely worth reading and if your CPA hasn’t heard about it, you can introduce this practice and win “smart” points.