Without a doubt, it’s a competitive world, whether it’s in sports or in business, and there are more similarities between entrepreneurs and top athletes than you might imagine. In this current financial climate when so many businesses are failing, it’s fair to say that companies that survive the economic crisis will come out of it leaner, stronger and fitter for business.
Just like any great Olympian, business owners that have been through hard times have had to rise to the challenge and succeed. By following the rules of how to W.I.N. G.O.L.D, you and your business can become a world-class champion.
W – Willpower to succeed
Having a competitive will to win is paramount for any athlete; otherwise there really is no point in competing. Great athletes will picture themselves crossing the finish line in first place and will play this over and over in their minds. They cannot envisage losing and, in fact, it doesn’t even come into the equation. Likewise, a successful entrepreneur will never give in; they will not ease off, even if they are close to their end goal. They will imagine being successful and will not let the demons of failure cloud their judgement.
I – Instil values
A successful Olympian has the power to instil values and traits in those who look up to them, and this is the very same with a great business person: a skilled entrepreneur is one that has the ability to instil values into the hearts and minds of their employees. They are able to establish a set of core values that makes their company unique compared to any other competitor, and this is what makes them stand out from the crowd. These values are such that employees and clients alike are proud to work for, and indeed associate themselves with such a company.
N –Never look back
There’s an old saying that goes ‘you’re only as good as your last race’, and this is true of both Olympian and entrepreneur. A great athlete will not rest on their laurels, even though they may have triumphed in their last race. They realise that the next race is a blank canvas whereby everybody starts from the same point. They, therefore, have to be better, fitter and stronger than anybody else. Constantly looking forward inspires athletes to be the best they can be. By the same token, a successful entrepreneur doesn’t take their foot off the pedal either: they too are constantly looking for the next big deal, the next idea, the next challenge that they thrive on, and this is what makes them successful.
G – Get the job done
When it comes to athletics, races are often won by a whisker. If an athlete ceases to give it their all, if they ease off just 1cm before the line, then chances are they’re going to lose to someone who gives 110% all the way to the finish. In essence, a great athlete gets the job done no matter what, they see it through right to the end. Similarly in business, a successful entrepreneur never loses focus; they never slack off just because a project is almost done; they don’t cut back when a client tells them he likes their offer. Instead, a skilled entrepreneur believes that the deal is only done when the client tells them it is, and not before. In other words, they maintain focus all the way to the end, until the client is totally satisfied.
O – Organised
A great athlete never comes to a race under prepared. Instead, they will have trained hard for an event and have focussed on eating the right stamina-boosting foods. They have their head in the right place and their mind-set focused on the race. In essence, they will be as prepared and organised as they can be. Similarly, a successful entrepreneur never goes into a meeting or a deal without being fully prepared. Speak to any successful business leader and they will tell you that ‘failing to plan is like planning to fail’, and if the deal falls through because they have neglected to plan ahead or be fully organised, then they only have themselves to blame.
L – Leverage
An Olympic coach understands exactly how to get the best out of their athletes by leveraging their unique capabilities and positioning them in events that allow the athlete to shine: you will never find a great sprinter entered into an 800 or 1500 meter race. Similarly, a great entrepreneur will have the ability to leverage the skill sets of the individuals around them and position them in fields that bring out the best in them: a skilled entrepreneur wouldn’t keep their best sales person in the office. Importantly, when things are going to pot, a successful entrepreneur will always be able to step back from the situation, re-focus, and leverage the skills necessary to lead the team through in the same way that a great athlete will always dig deep, harness the power of their skill set and make good, even when the odds may be stacked against them.
D – Don’t give up
Like a great athlete never gives up and keeps on giving it their all, a successful entrepreneur will never stop ‘til they’ve gotten that contract, sold that product, or completed that job. In many cases, successful business people are faced with adversity, and what makes them stand out from the crowd is their willpower to pick themselves up, dust themselves down, and get right back in there when many others would have folded. This attitude gives them the edge over weaker competitors who only do as much as necessary and cut back when times get tough.
So as we fast approach the London Olympics, will you be doing the same old things and getting the same old results, or will you be thinking like an Olympian and celebrating your own gold medal moment?
3 Companies With Memorable Slogans, And How To Create Your Own
Three companies that have enjoyed these benefits as a result of creating memorable business slogans are Nike, Carlsberg, and Apple. Let’s look at each one now.
A good slogan serves many valuable roles in business. First, it reinforces recognition of your brand. After hearing it a few times, your consumer instantly thinks of you when hearing it again. If it’s catchy enough, they may even find themselves saying or singing it in their head, reinforcing your brand even more.
Slogans also share a little bit about your company. For instance, if your slogan is funny, it says you have a sense of humor. If it contains your goal or mission, it tells the consumer what is important to you. Some slogans share the problems the company is trying to solve or the consumer its trying to help, making it easier to identify the target market.
Finally, a slogan sets you apart from your competitors. It differentiates you from all of the other companies who offer similar services to you. And if it’s memorable enough, it puts you ahead of them in your consumer’s minds.
Three companies that have enjoyed these benefits as a result of creating memorable business slogans are Nike, Carlsberg, and Apple. Let’s look at each one now.
Company #1: Nike – Just Do It
Though many people use Nike’s ‘Just Do It’ slogan as a reminder that they can do amazing things if they just put their mind to it, its author, Dan Wieden, reports that this line actually has a grim beginning.
In fact, it was an idea he derived from a statement made by Gary Gilmore, a double murderer who, before being executed by a firing squad exclaimed, “Let’s do it!” Still, it has stuck in consumer’s minds and is undoubtedly one of the most memorable slogans of all time.
Related: Registering a Trademark
Company #2: Carlsberg – That Calls for a Carlsberg
Initially, Carlsberg’s slogan was ‘probably the best beer in the world.’ Many consumers came to know and love this slogan; however, in 2011, the company rebranded and created a new slogan: ‘That Calls for a Carlsberg.” The goal of this new slogan, according to CEO Jorgen Buhl Rasmussen, was to encourage the consumer to do good things and then enjoy a Carlsberg after as a reward for a job well done. Both have stuck in the minds of consumers, albeit with some discrepancy as to which one is most preferred.
Company #3: Apple – Think Different
Apple is a company known for thinking (and creating) outside the lines, so its ‘Think Different’ slogan fits it perfectly. According to Rob Siltanen, creative director and managing partner at the company that helped design this Apple pitch, though there are many accounts of how this slogan was created, its true inventor is Craig Tanimoto. Siltanen says that Tanimoto came up with the idea to use black and white photos of some of the most revolutionary people and events of all time and, atop each one, simply display the words ‘Think Different.’ Catchy, right?
How to Create Your Own Memorable Slogan
These are just three examples of how creating a memorable slogan can help your company get — and stay — in the minds of your consumer. So, how do you come up with this type of campaign?
One option is to get some of your company’s best talent together and see what slogans you can come up with. Have everyone submit one or two ideas and talk them out. See if any jump out at you and, if not, use them to inspire you to come up with even more possible ideas.
Another alternative is using a slogan generator. This enables you to come up with a simple, memorable slogan using keywords related to your brand. Just go through the list and of results and see which ones stand out. You could even pick your top two or three and let your social media followers vote as to which one you should select.
If you find yourself at a dead end and unable to come up with a memorable slogan, or if you lack the creativity or the time, you can also hire a marketing firm to help. Give them a little insight about your company and see what slogans they create. It may cost you some money to take this route but, as companies like Nike, Carlsberg, and Apple have taught us, a good slogan can really propel your brand.
Dear Family And Friends Of Entrepreneurs…
Young entrepreneurs often struggle to establish their businesses as they are not getting the support they need. Sometimes it is not only the obvious support of financiers and supply change developers which is lacking –but also not having that critical “home-ground support” can negatively affect the success of your venture. How can family and friends support entrepreneurs?
Entering the market as a newbie entrepreneur is a brave step, and having your family and friends share in your vision for success is critical. Once you have convinced them that being an entrepreneur is in fact “a real job” – one that requires a lot more sacrifices and hard work than a salaried worker – you can continue to encourage them to support your journey, to ultimately share in your success.
Get a job
In some communities, being an entrepreneur is not recognised as a profession. Therefore, those who pursue enterprise development are seen as irresponsible or lazy as it is not regarded as ‘real’ employment. Societal pressure to attain certain material possessions thus prevents them from pursuing their true passion.
This kind of resistance discourages a lot of entrepreneurs, making their pursuit for success even more difficult.
Finding out who your real friends are
Financial support is the most obvious support needed by entrepreneurs due to a lack of capital and start-up funding, as well as irregular payments and long periods of being cashless due to procurement holdups and fluctuation in the market for your product or service. Not everyone will stick with you in these times – and that’s OK. You may end up finding out who your real friends are, and these are the people who will give you emotional and social support to keep you focused and motivated.
“I know a guy….”
Another issue is friends and family looking for discounted prices as they know the owner. This means that they don’t see the value of the product or service, nor do they respect the owner. By asking for products and services for free, or at a reduced price, they end up taking advantage of their relationship with the entrepreneur and do not financially support his/her the business.
So, if you have friends or family who are business owners, set an example by supporting them in the following ways:
- Be willing to pay the full price of the product or service offered.
- Be kind when giving negative feedback – make sure it is constructive.
- Compliment them on good products or service. Share positive reviews on your social media pages.
- Share and promote their business among other people.
- Be patient and willing to help them establish their businesses.
Be prepared to listen to their dreams, hopes and frustrations. Sometimes, they just need an ear to vent about a bad day. Support them with a word of encouragement to keep going.
Why Embrace The Struggle?
Entrepreneurial success hinges on your ability to approach challenges with the right mindset.
Self-help and business coaching advice is littered with platitudes, which makes it difficult for entrepreneurs to know what they should take to heart. However, one universal truism that most successful entrepreneurs attribute to their success is their willingness and ability to endure the struggle.
It’s a lesson I learnt first-hand when building our ad-tech and Facebook Marketing Partner business, Popimedia. One of our sternest tests came when we moved into new premises and took on more staff to accommodate our exponential growth. Then, amid new and significant financial commitments, some of our pipeline never materialised.
It was at this time that my son was born, and our family had just moved into a new house. To preserve the business, we were forced into retrenchments and directors didn’t take a salary for a while. And, with a lower head count it became difficult to deliver on client deadlines. Needless to say, my personal and professional level of discomfort was at an all-time high.
We reviewed our operations and streamlined where we could. More importantly, though, the experience taught us a number of invaluable lessons.
Lesson #1: Reframe your context
Our leadership approach, our business mindset and our attitude needed to be drastically reframed.
There is a quote that has always stuck with me, which is: “The antithesis of comfort is struggle.”
I believe a person is moulded by the way they deal with struggle. That’s why I’ve always been inclined to welcome a proverbial punch to the face, and use as a mantra the phrase, “comfortable being uncomfortable”.
Being “uncomfortable” forced Popimedia into rapid innovation – and it was this innovation that led to a sea-change in the business. We learned how to scale, how to improve service levels, how to do what we do better, faster, more efficiently.
As a result, and without increasing our staff complement, our year-on-year growth has topped 100%. What was, at the time, the business’s greatest challenge became its greatest ally, and our biggest lesson.
Lesson #2: Fail fast, and learn from it
Obviously, this approach is not about making life difficult for the sake of personal and professional growth. It’s about understanding what is: expecting it to be difficult and taking a constructive approach towards failure and struggle.
There is one guarantee in business: you will experience failures, and you will struggle.
Central to this is your ability to recognise your failures for what they are, and quickly. This allows for a rejigging of processes, attitudes, operations, and sometimes even objectives.
My personal attitude to failure was reframed by simple sales stats. I came to understand that rejection was inevitable – but when it does happen, it brings with it opportunities. I always ask: “Why don’t you want my product? How is it not meeting your needs?” This way, “failure” is transformed into an opportunity to better understand the market and my clients.
This feedback loop has proved crucial, and allowed us to become what we are.
As an entrepreneur, the pressure never ends and you’ll never ‘arrive’. At Popimedia, we’ve come to embrace every opportunity that takes us out of our comfort zone. Working through failure is the foundation on which the entrepreneurial spirit is forged. It is the willingness to try again following a rejection, or to keep grafting knowing that there’s no guarantee of a pay cheque at the end of the month.
And doing so with the ‘chutzpah’ – the sheer audacity – to endure the hardship through mental toughness and a passion for what you do, becomes your greatest asset, because when you get comfortable, you become complacent… and complacency will work you into irrelevance.
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