Published in FastCompany | August 30, 2024 | Author: Thomas Minieri and YEC Members -- From limiting the number of communication channels to developing a unified company communication app, explore the 10 strategies these leaders recommend for setting and streamlining communication preferences. My contribution to the article is as follows: I manage a sales team, and I have found it to be imperative to have in-person meetings each week. The best model for managing my sales team is for us to meet twice per week in person. We meet first thing Monday morning to get motivated and to set up our week properly. We discuss pending sales, sales techniques, new sales, and strategies for cultivating sales opportunities. We utilize text messaging to communicate during the week as situations present themselves. This allows for quick responses and gives my sales team the ability to communicate with me on the fly if they need help in the middle of a sales presentation. We wrap up the week with a second in-person meeting. The vibe of this meeting is celebratory. Everyone comes to the meeting to share the sales they’ve cultivated, and everyone gets the chance to present their sales numbers to the team. We celebrate everyone’s successes, which keeps our sales team highly energized and encouraged. While it can be tempting to use new technology, I find it extremely difficult to create dynamic energy remotely. Tried-and-true in-person meetings work best for me and help me keep my team focused and encouraged. Click to read the full article on FastCompany .

Published in INC | July 31, 2024 | Author: Thomas Minieri and YEC Members -- “Initially crafted to help tech startups achieve rapid growth, the Lean Startup methodology has since transcended its original audience, proving invaluable to large corporations as well,” Reis says. “By leveraging principles such as validated learning, rapid experimentation, and continuous customer feedback, even established enterprises can navigate uncertainty and foster innovation.” This allows businesses to iterate quickly, minimize waste, and create products and services that resonate with their customers. So, how are businesses actually using the lean startup methodology? Here’s how eight business leaders think lean to produce big results for their businesses. Testing Before Implementation Thomas Minieri, founder of Lemonade Maker , an entrepreneur coaching franchise based in Charleston, South Carolina, says that utilizing the lean startup methodology allows his company to test new ideas before introducing them to franchisees. “As a franchisor, I have to be careful not to mandate new methods or services that have not been fully vetted,” says Minieri. ” By keeping our company-owned location running like an innovative startup, and by getting the customers of our company-owned location involved in a fun and intriguing way, we are able to stay agile and nimble.” Read the full article on INC .

Published in Entrepreneur | July 1, 2024 | Author: Thomas Minieri and YEC Members -- Considering a career hiatus? We've gathered insights from career coaches and founders to guide you through this critical decision. From assessing the lead time for your next opportunity to aligning the break with your personal seasons, explore the diverse perspectives of 18 experts on the merits and considerations of taking a career break. Thomas Minieri's contribution is as follows: I grew my first company from an underfunded $30 startup to a national franchise that employed over 50 professionals and produced over $12 million in revenue. I accomplished this in less than ten years. That level of growth was akin to riding a roller coaster without a harness. When I sold the company, I was exhausted! I needed a break. Ten years of running caught up with me, and to be honest, had I not sold the company and taken some time off, I might have collapsed. The day I left my company was the strangest day of my life. I went from CEO of a drama-prone franchise system to unemployed with nothing to do in one day. It was a culture shock at first, but the break let my mind, body, and soul relax. In that state of rest, I wrote my first book, which chronicled my crazy entrepreneurial journey and gave me the emotional release I needed to close that chapter of my life and move on to bigger and better things. With a clear head and some cash in the bank, I set out on a new adventure, taking with me all that I had learned and experienced. We entrepreneurs run at full steam, sometimes for extended periods of time. Whether you sell your company like I did or take the occasional sabbatical to catch your breath, taking a break might very well be the best thing you do this year. Your well-being deserves it! Read the full article in Entrepreneur .

How can a startup choose which role to hire for, when they can only afford one role but have multiple hiring needs?

While many people try to avoid arguments at work, constructive disagreements can often lead to creative solutions. Left unchecked, however, these discussions can quickly head in an unhealthy direction and foster a negative atmosphere. To build a culture of innovation and open communication, leaders must foster healthy disagreements among their teams while ensuring things don't get out of hand. Below, 15 members of Young Entrepreneur Council share their tried-and-true tips for encouraging constructive disagreements in the workplace.

Finding a serious customer is hard work. Asking some of these questions may make it easier to find and keep them. Not every customer is a good fit for every product. What is one question to ask or approach to use to test how serious a prospect is about making a purchase?

When you start a business, not only do you have to convince potential customers you can solve their particular problem, but you also have to convince them that your business can solve their problem better than any other company can. Differentiating yourself from your competition in this way is essential if you want to succeed in your niche and build a loyal following of customers. But what steps do you need to take to do so? In this article, Thomas Minieri plus 11 other business leaders from Young Entrepreneur Council share their insights on what new entrepreneurs should do when it comes to differentiating themselves from their competition and what steps they’ll need to take to ensure their success.

If you want to start a business on the cheap, then you’ve got to put everything on the line because you’ll need at least some money for basic living expenses and advertising. Get a handle on your marketing skills and get away from small-scale random acts of marketing that produce little to no results to work toward the fast track to success.

When determining your marketing budget, there are several key factors to consider. Marketing encompasses everything from branding and website development to communications and sales. It is a big header, and each component needs to be well thought out to ensure your entire marketing system is firing on all cylinders.

Is your logo more than five years old? Is it more than ten years old? Google changes its logo almost every day, and people aren't forgetting where to search for things online. Is your business name dated and holding you back from gaining new opportunities? If so, make like Elsa and let it go. Change doesn't mean you forget the hard work you put in during your startup years. Come up with something fresh and new that will take your company to the new heights it deserves.

Your business’s first attempt at creating a website may have focused on necessary product information, your logo and color scheme and basic functionality. At that time, though, you may not have truly considered how your visitors use the site and, therefore, may not have produced the results you were hoping for. To get the most out of your website, you must take a look at the full user experience. To help guide you, Thomas Minieri and fellow members of Young Entrepreneur Council offer 14 factors all companies should consider when redesigning their websites and explain why these particular factors can have such an impact on the way your users experience your business.

There are many reasons why a person's career idles, but it will likely happen to just about everyone at some point. Personal issues, an economic crisis, a creativity block or financial trouble are just a few factors that might cause a person to lose their passion for work. Realizing that your career has stalled or that you've lost passion for something you once loved to do can be frightening and overwhelming. It's enough to send some people into despair and depression. Here, Thomas Minieri with fellow Young Entrepreneur Council members weigh in with advice on what they would do—or have done—when faced with the same problem.

So, you have a great business idea and a basic foundation of your vision. Your next step, before pitching to investors or even thinking about launch day, is to write a solid business plan. A business plan serves as the guide to your business’s beginnings by laying out potential stumbling blocks and fielding your target market. However, crafting one isn't always as easy as it seems. Below, Thomas Minieri and eight fellow members of Young Entrepreneur Council explain what they wish they'd known when they were writing their first business plans and why that would have helped them.

The technology industry is booming faster than ever, especially in today's digital-first world. New innovations spring up every day, from advances in smartphone technology to machine learning and more. Tech innovations not only optimize business practices across industries, but also afford a better quality of life to consumers. But which ones are the most impressive and useful? Thomas Minieri, along with nine fellow members of Young Entrepreneur Council, describe what they see as the best recent tech innovations and why each one is so impactful.

For many professionals, cold-calling is a tall hurdle. They dread having to make the calls, worried they'll be rejected or forget what they need to say. They know the person on the other end isn't fond of receiving these types of calls, and yet they still must pick up the phone and dial the next number on their list because they know cold-calling has the power to get more sales. If cold-calling is a nerve-wracking endeavor for you, you're not alone. To succeed, it’s often about having the right strategies in place. To help, Thomas Minieri with eight fellow entrepreneurs from Young Entrepreneur Council share some of the techniques that can help you overcome your nerves and make cold-calling a little less intimidating.

Part of achieving success in business is establishing an effective marketing strategy for your company. Marketing is a broad term and includes not only the advertisements used to get leads, but also the sales strategy that turns those leads into action by a customer that results in revenue for the business. There have been several instances when my agency has generated leads for a client only to have that client struggle to turn those leads into revenue. This is often indicative of a sales problem, not an advertising problem. Sales is largely based on communication and perception. Here are some of my top tips for improving your sales skills, which should help you land more and better deals.

While cutting costs may be beneficial, it can also be fatal if done without careful consideration of outcomes. Companies do not grow by cutting costs; they grow by increasing sales. Therefore, if the owner, in an attempt to lower expenses, deprives essential business systems of needed capital, then it could lead to stagnant growth or negative cash flow. It’s important to consider the unintended consequences of not spending money on important business systems. Many business owners may think they are being frugal when in reality they are being cheap. Frugality leads to efficiency, while being cheap leads to a whole host of problems.

When economies fall apart—and this happens more than you might think—many business owners find themselves in a position of desperation. As business owners, many of us are all in, meaning our livelihoods and the ability to provide for our families rests upon the success of our businesses. When circumstances around us change that are outside of our control, stress, fear and anxiety can build quickly.

If you’ve thought about scaling your business, you might have wondered whether or not franchising is the right choice. For me, transitioning from a small business owner to a franchisor helped me grow my business and scale much faster than I would have been able to do on my own—all while avoiding the excessive risk of a capital-intensive expansion. Small business owners too often make the mistake of wanting to do everything themselves, including scale. If you’re ready to take your company to new heights, then consider some of these noteworthy benefits that I found during my experience as a franchisor.

Business, especially new business, can be tricky. One major advantage of purchasing a franchise is that franchise systems are typically set up to help new franchisees avoid as many problems as possible. If you are starting a new business without the benefit of a franchise system, you are going to need to spend a good bit of time planning and seeking guidance from others in your industry who have experienced and overcome challenges. Doing so before you launch will help you avoid unnecessary issues later. Franchise or not, these common pitfalls plague many new business owners. Below are my top five dangerous startup pitfalls that, with some insight and planning, can be avoided.

Smart leaders know that they won’t be able to retain their employees forever. Many managers wonder what the right course of action is in this situation. Do you confront the employee and fight to keep them, or pretend you don’t know and let them keep looking? Thomas Minieri and fellow Young Entrepreneur Council members weigh in with tips!

Working for a startup can be fun, but it can also be terrifying. Hear from a panel of experts at the Young Entrepreneur Council who share top strategies and give you insight on benefits you can offer employees that go beyond standard startup perks.

The body Scaling any business takes time, money, and often, a lot more effort than you think. Scaling a service-based business in particular is tricky—we’ve seen many try to scale and then crash as they outpace their own growth. So how can you make sure not to follow in their footsteps? Nine entrepreneurs from Young Entrepreneur Council where asked for their best advice on scaling service-based businesses. Here, they share what strategies worked for them, and what they would suggest others do.of your post goes here. To edit this text, click on it and delete this default text and start typing your own or paste your own from a different source.