The blockchain has already helped to revolutionize the world of currency. By using a shared, publicly distributed ledger, an entire network of users can keep track of their own material ownership and transactions.

But soon, the blockchain will be able to track ownership for all kinds of things, including material goods like cars and intangible assets like ideas. More than that, blockchain-based ownership could become a practical necessity—and revolutionize how our society functions and how asset ownership works.

The Blockchain and Asset Tokenization

The broad term for this high-tech concept is “asset tokenization,” which makes sense, because it’s all about converting existing assets (tangible and intangible) to manageable, digitally traceable tokens, not dissimilar to Bitcoin and other cryptocurrencies. Each token in this system represents fractional ownership in a tradeable asset.

Much like an initial public offering (IPO) in the stock world or an initial coin offering (ICO), the business owner, asset distributor, or creative innovator in charge would oversee an initial security token offering (STO). They would control the trading volume of the token in question, as well as an initial price for each token. Investors active on the blockchain would be able to trade these fractional shares like they would any cryptocurrency, accumulating, holding, and selling as they see fit. In some cases, sufficient fractional shares would be exchangeable for a real asset, and in others, they could be traded like public stocks, with investors hoping to hold the asset until it increases in value.

Asset Ownership and Accountability

One of the biggest breakthroughs the blockchain would provide is an immediate and convenient way to distribute the ownership of complex assets, like businesses. Ownership is an important concept in a thriving economy, giving people the chance to grow their wealth by buying and holding assets. Stocks already allow consumers the chance to acquire partial ownership in up-and-coming companies, but asset tokenization could open the door to even more complex asset types, like buildings, vehicles, or specific pieces of equipment.

Asset owners can also benefit from finding a way to distribute accountability in some cases. For example, in a car accident, liability can be complex to pinpoint due to the variety of factors that play into determining “fault.” Drivers, owners, insurance companies, weather conditions, traffic conditions, and more can play into the resolution of a case. If a car’s ownership, or if an insurance company’s ownership is distributed, no single person or organization will bear the brunt of a liability issue.

Simplification of Exchanges and Transactions

Asset tokenization will also simplify how exchanges and transactions play out, giving consumers more options for both straightforward purchases and transfers of ownership. For example, asset tokenization instantly makes previously illiquid investments more liquid; it’s much easier to distribute ownership of a piece of factory equipment when you can split it a practically infinite number of times, and keep track of all those microtransactions with minimal financial management.

Of course, “simplification” is a long-term vision. Blockchain ledgers don’t appear instantaneously, and do require expert oversight. But once created, instated, and popularly accepted, almost any purchase, trade, investment, or exchange will become simpler.

Creative Empowerment

Tokens also have the ability to revolutionize creators of intangible or hard-to-define assets, like photos, music, and other creative works. Imagine, as an example, how a change in the distribution and control of ownership could affect the music industry. A composer or performer could produce a body of work, like an album, and tokenize that work to willing investors and participants. Listeners, producers, and others would be able to front money to creators, giving them more upfront cash for their work, and simultaneously giving themselves a stake in what could be a very popular piece of media. If it’s used in a movie or is downloaded frequently enough, every stakeholder would be able to claim partial benefits.

This setup makes it easier for creators to get paid for what they create and still retain more control over how it’s used. It seizes some power from industry titans, democratizing the industry, and gives consumers more freedom to support the artists they want. It’s an amazingly beneficial system for everyone involved.

Workforce Contributions

Employee-owned companies are becoming more popular, and asset tokenization could make the system more approachable for small- to mid-sized companies that aren’t interested in incorporating. The idea is to compensate employees, at least partially, in equity in the company, incentivizing them to work harder for the business’s success and rewarding them directly for their efforts.

Asset tokenization would make this structure available without the need for an IPO or a complicated ownership distribution model. Instead, employees could work for discrete “tokens” of ownership that could be sold or cashed in later for a profit.

Investment and Funding

Even though fractional ownership has been a long-standing concept in the form of stocks for publicly-traded companies, asset tokenization still has the possibility of disrupting the world of investments, enabling investors to target a more diverse range of opportunities, and giving entrepreneurs and inventors more financial chances than ever before.

For starters, asset tokenization wouldn’t be limited to formally incorporated businesses; it could be open to sole proprietorships and small businesses, or to individuals and organizations as well. In fact, it could change how we think about “corporate ownership” in the first place. Because it’s so accessible and so liquid, it gives more entrepreneurs the opportunity to attract funding, which could fuel a technological and innovative revolution.

Preparing for AI

Artificial intelligence (AI) and automation have the potential to jeopardize millions of American jobs, replacing or displacing them with new technology that can accomplish human tasks at a fraction of the cost. But asset tokenization could offer the possibility of compensating displaced employees, at least to an extent. By offering employees at risk of role automation a chance to earn or buy into tokens of the technologies that may replace them, you give them a safety net in case their role is no longer necessary while simultaneously giving the tech developer the funding necessary to complete the project.

With the diverse array of AI-driven technologies on the horizon, quick, easy funding is going to become more important to preserve our developmental momentum. Employees are also going to need an alternative to any obsolete jobs they’ve depended on; this could provide a solution to both.

When will Blockchain start impacting asset ownership?

So when is this groundbreaking, revolutionary technology going to develop and be available for the people who need it most? It’s hard to say, considering the blockchain is a complex technology whose role hasn’t formally been solidified. Given the infrastructure for blockchain as it relates to cryptocurrency is well-established by now, there’s a distinct possibility it could only be a few years until it’s used for wider purposes. However, some industries and applications may face additional years-long delays due to new regulatory hurdles or talent shortages.

In any case, once asset ownership tokenization starts to become popular, its momentum will be hard to stop. More people will realize the immense power and varied applications of the technology, and increased competitive pressure will make its allure hard to resist. As soon as the early applications prove themselves worthy of investment and attention (and after the first kinks are worked out), it’s going to experience exponential growth.

With all these inherent advantages, it’s clear that blockchain-based ownership isn’t just a gimmick, nor is it a simple improvement to our existing systems; it’s a practical necessity that will become more important as the years pass. It may be some time before asset tokenization becomes understood and accepted in the mainstream, but it has the potential to improve our lives in multiple areas—and solve many of the problems that have plagued entrepreneurs, investors, creatives, and consumers for decades.

The post Blockchain Is About to Change How Asset Ownership Works appeared first on Due.

As the cofounder of a startup, to protect your best interests should be a priority. No matter how friendly you are with the other members of the founding team, you have to look out for your own best interests. Otherwise, you could end up on the outside looking in.

5 Tips for Protecting Your Best Interests

As much as you may like to think other people are looking out for you, the reality is that you are the only person who is 100 percent focused on protecting your best interests. Thus, you’re the only one who can develop a strategy that keeps you safe from undue harm. Here are a few suggestions:

1. Develop a Sound Founders’ Agreement

When starting a business with a cofounder, you should develop what’s known as a “founders’ agreement.” This is nothing more than a clear agreement between all founding partners about a number of key issues the company may face. It’s not necessarily a legally-binding contract, but it’s a nice baseline to keep everyone in check. Think of it as a negotiable document that provides a framework for the business, but that can be adjusted as time goes on.

“If a founders’ agreement isn’t as legally binding as some other documents you’ll be dealing with, does that mean it’s less important? No, not at all,” entrepreneur Ben Rashkovich explains. “It might not be binding, but a well-done founders’ agreement will protect you in case of a dispute later on. You’ll be able to point back to the founders’ agreement to explain why you did this or why your co-founder shouldn’t have done that.”

Founders’ agreements typically touch on things like business names, company goals, roles and responsibilities, equity breakdown, vesting schedules, intellectual property, salary and compensation, termination clauses, etc. Again, you aren’t etching these in stone, but the agreement should carry some weight. 

2. Have a Strategy for Your Board 

It happens more often than we’d like to think. A couple of entrepreneurs create a product, start a company, and the business experiences tremendous growth. Eventually the business grows to a point where equity investors enter the picture and a board of directors is formed to help shape the direction of the company. All is well…or at least the founders think.

At some point, the board of directors gets together and decides that the founders, as innovative and creative as they are, no longer represent the best interests of the company. So they gather together and vote to remove the founders from the executive leadership team. They quite literally get fired from their own companies.

Successful entrepreneurs and founders like Steve Jobs, Jack Dorsey, George Zimmer, Daniel Zappin, David Neeleman, Jerry Yang, and Andrew Mason – just to name a few – were all fired from their companies at one point or another. And though many of them continued to hold important roles – or were even asked to return to their former positions at a later date and time – situations like these speak to the reality of entrepreneurship.

According to one estimate, 45 percent of founding CEOs are fired within 18 months. While the exact number may be slightly lower or higher, one thing is clear: you aren’t as safe as you think you are. As your business grows – and growth is obviously the goal – you naturally lose some of the control and influence that you had on day one.

If you’re a “product guy” – an entrepreneur who innovates and creates, but doesn’t necessarily have the business leadership background that’s common in executive roles at large, successful companies – you face an especially high risk of being ousted in the future. Ryan Howard, former CEO of Practice Fusion, is a classic example of this. The self-proclaimed “product guy” was fired from his company not once, but twice.

This article isn’t meant to scare you, but should light a fire under your seat and convey the importance of being proactive in how you protect your best interests. And, thankfully, there are several steps you can take to lessen the risk (or at least soften the blow).

The first suggestion is to plan for these scenarios ahead of time. As awkward as these “what if” scenarios may be, it’s better to flesh them out now than deal with them later.

“Don’t avoid prickly or uncomfortable subjects, like ‘what will happen if this all ends today,’” Howard advises. Instead, make a very clear plan around things like vesting schedules and rules/restrictions regarding termination.

It’s also wise to hire a lawyer – one who has nothing to do with the company. By separating your own identity from the company’s identity, you can avoid getting too wrapped up in something that’s difficult to control. Your personal attorney can help you draft sound agreements and things like accelerated vesting or generous severance packages.

3. Take Equity Seriously

Equity is a serious deal. Not only does it determine your financial standing, but it also says a great deal about your power and influence. While you should avoid being too heavily focused on equity – at the expense of ignoring the product and customer – it’s something that requires a great deal of attentiveness.

Be very careful with how you discuss equity with potential hires, investors, and outside partners. It’s also imperative that there are clear vesting rules in place to prevent founders or other key business partners from leaving the business and taking their substantial ownership in the company with them. This is a key factor to protect your best interest in your company.

Because topics like equity and vesting can be sensitive ones, it’s helpful to hire an attorney to provide an objective third-party perspective. If there’s some hesitancy among founders, concessions can be made. For example, acceleration of vesting can be used to quell someone who is fearful of being terminated without cause before vesting takes place. These little nuances must be considered and taken seriously.

4. Prepare for Life Without Your Cofounder

When you launch a business with a cofounder, there’s an additional layer of risk that must be accounted for. For example, what will you do if your cofounder suddenly and unexpectedly dies?

In many cases, the premature death of a founder causes the business to fall apart. But with the right agreements and provisions in place, you can keep the company together.

One of the more common strategies is for cofounders to purchase life insurance policies on one another. There are a couple of ways this can work:

• The life insurance policy is coupled with an agreement that states the surviving partner will use the funds from the life insurance payout to buy the deceased partner’s shares (thereby avoiding the problem of having them spread out among people who have nothing to do with the business).
• In a case where each partner has a unique skillset that’s critical to the operations of the business, the life insurance policy is structured to provide the surviving founder with enough money to hire an adequate replacement to keep the business running.

Thankfully, life insurance is pretty inexpensive when viewed as a business investment. Shop around and compare insurance rates from a variety of providers. You’ll find that, for just a few hundred dollars per year, you can secure a sizeable death benefit that keeps your business headed in the right direction.

5. Make Yourself Indispensable

Many entrepreneurs think that, once they start a business, they’re done proving themselves. As a business owner, you have to protect your best interests each and every day. After all, they now control the reins and can make all of the important decisions. But this isn’t necessarily true. As we’ve discussed rather extensively in this article, founders aren’t always immune to criticism and consequences. Thus, you have to continue proving yourself.

Even as a founder, you must set a goal of being indispensable. In other words, you should bring so much to the table that there’s no questioning your value. Thus, when a disagreement arises, or there’s a fork in the road where the board can go in one of two directions, decisions are made in your favor.

Stop viewing yourself as the person pulling the strings and instead look at yourself as an asset to the company. The moment you stop providing value is the moment you risk becoming obsolete. Prove your worth every day.

Be a Proactive Founder

There may be a time and place for being reactive, but this isn’t one of those areas. What starts as a small business in your basement can quickly scale up to a successful organization with dozens of investors and board members. If you aren’t careful, their collective voices can become louder than your individual voice – even if your voice is the one that’s been there from the beginning.

Whether it’s getting ousted by the board, having a disagreement with a business partner, or having your cofounder pass away prematurely, there are a myriad of risks that threaten to disrupt your role as you know it. By developing a proactive plan that accounts for each of these possible threats, you can set yourself up for success and stability for years to come. Don’t miss this!

The post The Practical Ways Cofounders Protect Your Best Interests appeared first on Due.

If you’re excited about starting a business, congrats! Charting your own professional course is very exciting and can be a huge source of joy and money in your life.

But it’s not for everyone. And many people try to turn a passion of theirs into a business without really understanding what starting a business takes, and what monetizing their passion will do to their lives.

Here are three questions to ask yourself before starting a business, so you can make sure this is something you really want to do.

What Does My State Require of a Small Business?

So many people see starting a business as a labor of love, and not a legal contract. When you start a business of any type, the government gets involved. You may have to register with your state, start paying local or state sales taxes, and you may have to get specific licenses or permits.

Do your research before you open up shop, so that you are sure to set your business up correctly and legally.

What is My 1 Year Sales Plan?

Business that don’t sell are just expensive hobbies. So how exactly do you plan to make money? As the first year of your business progresses, do you have plan to roll out new products or to increase your price points as your audience grows?

Take the time to write out as comprehensive a business plan, and feel free to dream big. Things might not go exactly as you plan for them to, because entrepreneurship is a wild ride! Still, having the plan gives you a direction to go as well as a sense of what needs to be done to get there.

Take the time to crunch your numbers as well. With your sales plan and products, can you cover all your living expenses or will you need to draw from savings? Where will the money to cover start up expenses come from? Answering these questions BEFORE you’re in the thick of business will make everything more managable.

Why Should This be a Business?

Why do you want to turn your passion or hobby into a business? Not enough people stop to ask themselves this, and it’s a big help to answer it.

Consider things like: could this just be a side hustle? Is this better off as a passion project? What will this mean for my hobbies if I turn it into a business?

Just because you love something doesn’t mean you need to run a business off of it. While it’s tempting to get into the entrepreneur pool and splash around, really consider if that’s what’s best for you and your lifestyle.

The post Three Questions to Ask Yourself Before Starting a Business appeared first on Due.

Content marketing is the idea that your brand content (blog posts, social media, videos, or emails) implicitly does your marketing for you. Compare this to traditional, explicit marketing, like purchasing a tv ad or putting ‘buy now’ over a product.

Content marketing has surged to the front of our marketing approaches in the digital age, as more and more people get online to share their expertise and passions with others. Done correctly, content marketing is a way of providing your audience with free value while leading them to desire your paid products.

Done incorrectly, and content marketing is merely a bad sales pitch that people can spot a mile away. So let’s talk about why content marketing isn’t working for you, and what you can do about it.

You Don’t Share Content Regularly

Content marketing relies on the regular creation of content. That means you need to create a content schedule that you can stick to, and make sure that it gets out on time each week. Posting once a month to your blog, on a different day each month, isn’t going to work. There are too many other people out there to distract your readers with their content.

Take two hours and brainstorm a month’s worth of blog posts, social media posts, and what your sales strategy with them will be. You don’t have to post on every platform every day to have the most impact! But you should be hitting your chosen platforms regularly (1-3x a week) so that your audience knows they can depend on you.

You’re Using Sales Language

Making a sale today is very different from how Don Draper made a sale. Or even how Pepsi made a sale in the 90’s. Today, people don’t want to be sold to. People are more interested in getting to know the people and companies they buy from and feeling a connection with them.

Yes, people still want a solution to their problem. That will always sell. But beyond that, they want to know that the person they’re buying from is someone they feel like they truly know, and you build that kind of relationship by using regular words, not sales pitches.

This is why the rise of the influencer has been so great– influencers share themselves with their audiences, and so their audiences trust them. Don’t put traditional sales language in your content marketing. Instead, focus on sharing yourself and your knowledge.

If content marketing isn’t working for you, go back and review what you’re doing. What is your content really DOING, SAYING, and how is it COMING ACROSS? If there’s no clear theme, it’s too sales-y, or it’s simply not there on time each week, you might have found the answer you’re looking for.

The post Why Content Marketing Isn’t Working For You appeared first on Due.

When you don’t have time to create content, it may be time to hire contributors. Content like articles, blog posts, videos, podcasts and other forms of media can bring awareness to your business. The goal is for the awareness to equal more dollar signs. Finding and hiring content creators or contributors may seem like a daunting task. Here are steps you can take to find the right content creators for your business:

Define Your Goal

Before hiring someone and adding another task to your “to do” list you should define your content strategy. How do you plan on turning blog posts, Youtube videos or any other content you create into sales leads or revenue?

Each piece of content should ideally serve a purpose. Otherwise, you could find yourself spending money on contributors for work that isn’t improving your bottom line.

Determine Your Budget

How much are you able to spend on contributors? Think about how much flexibility you have to outsource content creation. Keep in mind that your budget will directly impact the quality of work you’re able to find.

A decent size budget (several hundred dollars a month or more) for content marketing could help you hire industry experts. When hiring experts, you get access to their content and their fans when they share the work.

If you have a slim budget, you may not be able to get pristine work from an industry expert. However, working with a tight budget could mean you’ll have the opportunity to train someone new in the field to do exactly what you need them to do.  

Get Referrals or Publish a Job Listing

When you’re ready to hire, ask for referrals. Other business owners may have the inside scoop on writers, bloggers or YouTubers who can do great content for you. I’ve hired a great virtual assistant before from a referral.

There’s also the option of posting a job listing on a job board. With this approach, you’ll likely get many applicants that you can choose from. Ask for a resume and cover letter. You may even want to consider requesting a paid trial piece of content to determine whether or not they can do the work you need them to do.

Go to Freelancer Sites

Lastly, freelancer sites like Fiverr, Freelancer.com and Upwork are places where you may be able to find contributors. The skill level on these sites may be hit and miss. But you can find affordable people to train and work with if you’re on a tight budget.

Final Word

There’s a lot of content online coming out constantly. To stay relevant, you may need to up your level of content production. If it’s something you can’t do on your own, consider bringing on a few contributors to help you. Working with contributors doesn’t have to be costly, and it can take some of the work off of your plate. Contributors may also be able to come up with new and fresh ideas to spice up your marketing strategy.

The post How to Find and Hire Contributors for Your Site appeared first on Due.

For the everyday investor, it can be tempting to look to celebrity investors like Warren Buffett as bastions of truth. These stock titans may appear to have an inside track on the market — and Buffett’s advice reportedly works for many — but if investing were as simple as following a superstar formula, we’d all be rich.

The investing world has changed. Digital platforms from companies like Bloomberg or VRIFY, online access to regional news sources, and social media channels allow people’s perspectives (real or otherwise) to spread like wildfire. That speed has huge benefits beyond dissemination of actionable information — including democratization of forces to maintain market integrity. New communities, thought leaders, and platforms continue to evolve to help promote business activities or share analysis about publicly traded companies.

Investors need to ensure that they’re digesting balanced perspectives and coming to their own conclusions. When Citron Research attacked Shopify on two occasions, Shopify’s value tanked both times. Despite Citron’s claims being refuted by analysts and Shopify performing even better than anticipated, Citron’s bad information negatively affected the company’s stock in the short term. Investors who followed Citron’s bearish reports missed out on more recent gains.

Unfortunately, consumers of investment news don’t always know the real sources behind the stories. Berkshire Hathaway obviously represents Buffett’s thoughts, as a long-term holder of his investments, but what about other thought leaders? What are their incentives and motivations, and how can average investors determine whose advice is legitimate and whose is driven by motivations of a more selfish nature?

Check Your Sources

Recent research found that Americans aren’t as confident identifying bots and fake news machines as they were just a few years ago. A 2018 study revealed that 47% of people who had heard about bots reported being somewhat confident they could recognize such fake accounts on social media — a stark contrast to a 2016 study in which 84% of respondents reported feeling confident they would be able to spot fake news.

Although Buffett usually provides good advice, not all companies play by the same rules, and more bots and fake news sources are making it harder for readers to tell what’s valuable, reliable information and what isn’t.

Some companies — like Citron, Equity.Guru, and Muddy Waters Research — take positions in companies they provide perspectives on. This can be a force for good, when their quick moves and deep research help hold companies and management accountable for their disclosure or provide a thought leadership perspective investors can follow.

It’s when short-sellers make less-than-substantiated calls — especially during blackout periods when companies can’t respond — that investors may not be getting balanced information. Both the U.S. Securities and Exchange Commission and the Canadian Securities Administration are working toward preventing these types of “short and distort” campaigns.

Markets are dynamic, and investors are always searching for new data sources that give them a leg up on the broader market. Celebrity investors have the right to an opinion — and to make that opinion public. As counterbalance, however, global regulators like the SEC and CSA have an obligation to ensure that influencers who put out opinions are held accountable for their actions, the same way listed companies are held to public transparency when it comes to their business operations.

Investment news isn’t completely cut and dried, but everyday investors would do well to stay away from traditionally unreliable channels. Short reports with questionable motives, secretly biased promotional newsletters, and people hiding their true intentions do not deserve investor attention. Online message boards — even company-sanctioned ones — are also breeding grounds for potentially misleading information. Investors should have a healthy degree of skepticism.

Protecting Your Investments

All hope is not lost, though. Even in the age of fake news, investors still have several reliable options.

Buffett earned his reputation not just because of his success, but because he’s publicly accountable for the performance of his investments. In his case, that means through Berkshire Hathaway, but comparable figures have their own vehicles. Make sure that whomever you’re receiving investment advice from is held publicly accountable in some way. This ensures that giving bad advice will have consequences, and it also allows audiences to see whether the individual giving the advice practices what he or she preaches.

Investors should also make sure to look at any investment decision from every angle. Whether buying or selling, be sure to get all sides of the story before making the final call. The market sentiment might be that a company is about to go under, but if the rumor traces back to a single anonymous source on a message board, it certainly might not be the case. This means the truth isn’t always going to be clear, so research the company on multiple channels and be sure not to take so-called facts at face value.

One sign that information could be biased or otherwise not entirely factually sound is that the news source has received compensation from a suggested purchase (or a competitor) for the words on the page. Average investors should look to see if a source is paid before taking the information as pure fact. It falls to the regulatory bodies to protect investors by ensuring any incentive to create content is disclosed by news outlets and celebrity investors.

Thought leaders in investment vary far and wide on the advice they give and the opinions they hold — just as investors themselves differ in preferences and knowledge. That’s why it’s unlikely that two investors will ever see the same thought leaders in the same light, and that’s fine.

There is potential value in following venture deal-makers like Pat DiCapo and Hamed Shahbazi or trailing later-stage investors like George Soros or Buffett. The important thing is that investors taking advice from these leaders are able and willing to hold them accountable.

Though the rise of fake news and unreliable sources is a reality of today, investors don’t need to fear it. Making educated decisions requires examining the track record of those publishing opinions, ensuring their motivations are transparent and ultimately reviewing the company’s public disclosure for oneself. In the digital age, it’s never been easier to find information on companies and share perspectives to help make educated decisions.

The post Why You Shouldn’t Take Celebrity Investment Advice at Face Value appeared first on Due.

Marketing is critical to the success of any business. You’ve got to get people talking about your work or product so that you can get in front of the people that will buy from you. It’s a simple theory with a complicated execution.

HOw do you determine a good ROI for the time and money you spend on marketing? How can you decide which channels to market on, and how do you know if they’re working? Where’s the best place to spend your marketing budget?

Here are three questions to help you determine the best use of your marketing budget.

Who is My Ideal Audience?

Who are you trying to reach with your product? Identifying your ideal customer should be the first marketing exercise you do for your business. From there, you can do research on where your ideal customer is, and how you can reach them.

For example, if you are trying to reach teenage boys, you shouldn’t waste your marketing budget on Pinterest, which predominantly reaches women in their 20’s and 30’s. Instead, focus on social media platforms like Snapchat and Instagram.

How Long Do I Want to Advertise on a Platform?

You have the option of a one time post or a months long campaign, depending on the size of your budget. And that goes for pretty much every platform. You can work with an Instagram influencer for months or you can have a months long tv ad campaign. 

Smaller companies and budgets may opt for the cheaper one time ad placement, but you have to really consider what that will return for you. Marketers used to say that people needed to see something 7 times before they would buy it. Today, that number has gone up to 21-50 times, depending on who you ask. So the question becomes, does a one time post or ad make sense, or are you better off working with a longer term campaign, even if it costs more?

What Type of Return Am I Looking For?

And finally, be crystal clear on what you want from your marketing. Are you looking for product sales? New clients for your design business? More followers? Getting clear on the purpose behind each marketing push will make it easier to track the results.

Not all marketing is created equal. That means that what you want OUT of marketing will determine where you should spend your marketing budget and time. A campaign for more followers might look very different than a campaign for product sales.

Final Thoughts

When it comes to marketing, it comes down to trial and error. Make sure to track everything you’re doing for your marketing, so you understand the results that you do (or don’t) get. There is no one secret formula that every business can follow to get marketing success. But taking the time and using your budget correctly will yield the results you ultimately want.

The post What is a Good ROI For Your Marketing Budget? appeared first on Due.

I’ll say it: lots of business books are a waste of time. They spend too much time of fluff and not enough time giving you practical advice. I don’t need to hear ‘you need to build something remarkable’ for 5 chapters (looking at you Seth Godin). I need to hear that in one chapter, and then have the next four be about how I can find the inspiration and tools to build something remarkable. 

Here are 5 business books that are actually worth your time, where you will learn practical things about running a business and how to stay motivated during your slumps.

Rework

Written by the co founder of Basecamp, Rework is an ode against a lot of common business advice. The main takeaway is to stand passionately for something. While this might sound similar to follow your passion or to love what you do, it’s not. It’s more about having a passionate belief system in place, and finding a way to create a product or company that supports that vision. This advice is different from solving a problem for customers, and that makes it more valuable.

Company of One

Company of One doesn’t advocate for only having one employee. Instead, it advocates for having just one simple and clear mission. Understand what your one, primary goal is, and pursue that and that alone. If you need to hire other people to help do that, that’s fine. But you shouldn’t get distracted or dissuaded from your original idea, your company of one.

Overcoming Underearning

Published in 2005, there are a lot of timeless lesson in this book. Barbara Stanny breaks down both practical and mental actions for people to take if they want to earn more. (This can be applied to traditional workers and business owners.)

Stanny advocates for a system of Inner and Outer work, and her advice is sometimes practical (ie what to say in negotiations) and sometimes more ethereal (ie re-wiring your inner narratives to achieve the life you want.)

Profit First

A system to organize your money and pay yourself? Yes please! This is an excellent business book, though the ideas were not invested by the author. He essentially takes the envelope budgeting system and applies it to your business, but it works brilliantly. By far one of the most practical business books in the arena today!

Grit

While not strictly a business book, this is a deep dive into the core reason any business makes it: grit. Duckworth provides thorough research and a compelling personal story to show how determination and grit are really two undervalued business tools. 

The post 5 Business Books Actually Worth Your Time appeared first on Due.