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collaboration

Why Collaboration is EVERYTHING

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I learned very early in my career that finding a mentor is key to success – learn from others who have been down the path you want to go.  I also learned that being a mentor to others is not only gratifying it’s important to the success life cycle. So what does that have to do with collaboration?

 The Cycle

You don’t need to reinvent wheels – you simply need to take the design of the wheel, the research already done on the effectiveness of the wheel – and put your own spin on it.  The magic happens when that original wheel inventor actually learns a thing or two from you and your new spins on his/her design.

This is called Collaboration.  In the process of gathering intel and learning you are SHARING your wisdom in return.  The cycle of success keeps moving and growing the more you collaborate, learn and share. 

Starting

  • The secret to mastering the success life cycle is knowing who to collaborate with. It begins with YOU.  You must clearly define what you want, where you want to go and what you want to be.  Write them down.
  • Next you need to find others who have successfully achieved what you want. Social media is a perfect example of how this happens ALL THE TIME.  Want to run a marathon?  Head over to twitter, Facebook and Instagram and Google and search out expert marathoners. Become obsessed with learning everything they do from what they eat, how they train, how much they sleep and what they wear.  Adapt it to your lifestyle and go.  Ask questions, give feedback to others – soon you will be the expert and sharing your stories to help others!
  • Consider IRL collaborations. Meeting people face to face or IN REAL LIFE trumps online connections 90% of the time – if you are very intentional who you are connecting with.  It’s all about having a solid support system – the inner circle of folks who you deeply trust and feel comfortable sharing with.
  • Let go of your ego. Being a newbie or a learner is not a sign of weakness, nor is being a mentor to others a sign of superiority.  This is about collaboration and serving.  Egos should be checked at the door.

If you want to win the long game – don’t do it solo.  Know success is a journey – there will be ups and downs, having a support system will get you to the finish line a hell of a lot quicker than going solo.

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The Post Retirement Entrepreneur

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“I’m ready to retire, but not ready to stop working, stop using my brain, stop… doing.”

When you have spent most of your life in Corporate America – leading teams, driving change, mentoring generations – retiring to Boca or moving to the Villages isn’t always an easy transition for some.

In fact, many recent retired execs I speak with feel lost but, more importantly, feel the need to take what they’ve learned and do something meaningful with it – they want to leave a legacy, they want to make a difference.  This mindset often results in joining a board, volunteering, or even opening their own company and working as a consultant or coach OR all the above.

It all makes sense.  Many retirees live 20-30 years post retirement and if they truly loved their career why not continue working and giving back, sharing knowledge, and padding the “fun fund” while they’re at it.

Here are some interesting facts I’ve discovered about my fellow Boomers who are opting to be entrepreneurs for the first time. (note this is based on my personal connections – not some deep market research!)

  1. It’s not about the money – it’s about the meaning, the mission, and the legacy.
  2. Speaking of money – most don’t NEED to match their corporate salary, in fact, most shoot for 50-100K per year.
  3. Most opt for service-based industries – such as coaches or consultants because the startup cost is not huge and the transition is seamless. They aren’t learning new skill sets.  YET – some opt to go in a completely NEW direction including retail.
  4. More often than not – they prefer to go solo. No employees but bringing in contract workers if needed since many managed large teams for decades.  “Been there done that” is the mantra.
  5. Flexibility is important. They don’t want stress, they want to work when they want and vacation when they want.  They are “retired” after all.
  6. If they are consultants – they are insanely picky about who they will work with. It goes back to enjoying the journey not building an empire.

If you are approaching the magical sixties and aren’t really ready for retirement, but are ready to exit your current job – perhaps entrepreneur life is for you.

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Should you start a Facebook Group?

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If you are on Facebook, the odds are that you are probably part of a Facebook Group. Facebook isn’t just about connecting with friends and family anymore (or people you went to high school with and haven’t seen in 20 years, lol), it’s a way to stay more connected with everything that matters in your life. Facebook Group and Facebook Pages make it possible to follow businesses you like, public figures and even common interests and hobbies. So why should you have a Facebook Group if you already have a Facebook Page for your business and a personal page – well, simply because it gives you more ways to interact.

Before you start a Facebook Group, it’s important to know the difference between a Group and a Page. Similar to a personal profile, a Facebook Page enables you to create a profile for your business. BUT, pages are visible to everyone on Facebook. Everyone on Facebook can connect to a Page by Liking it and new posts will show up in the News Feed. Facebook Groups on the other hand are a place for people to come together around a common cause, issue, activity, or interest. They allow the members to discuss issues, post photos or video, and share relevant content. You can also choose the privacy of the group: public (anyone can join), closed (requires admin approval to enter), and secret (can join by invitation only). Like Pages, new posts in the group will show up in the News Feed of it’s members.

So, the real question is, if I already have a Facebook Page, why do I need a Facebook Group? With all the changes to the Facebook algorithms, to really make a Page work, you need high engagement from your followers, so your posts keep showing in their New Feed. It sounds simple, but it’s tricky, so most businesses are forced to run paid ads that target their ideal client audience. Also, most consumers look at a Business Page on Facebook as an advertisement for the company – they are only seeing information that the company wants them to see. More and more companies are turning to Facebook Groups instead of abandoning Facebook as a whole.

Using Groups, you can create a community that isn’t based solely around your business, but a topic within your business that others will also find interesting. Say you own your own car repair business, but you love working on Corvette’s from the 1990’s – so you create a Facebook Group for 1990’s Corvette owners. With over a billion users already using Groups – it’s a win-win to keep potential clients engaged with you.

Here’s the top 5 reasons why your business needs a Facebook Group:

  1. You can engage with your followers. This is where you will get all the likes and comments vs your Facebook Page. If you are asking questions, providing good content, and encouraging others to contribute – this is where the magic will happen.
  2. You can teach and build trust. This is your group and you are the leader. After all, you started the group because you know about the topic and can explain, motivate, inspire, and teach the content that you love. This is where you can be seen as an expert and influence people’s lives. You aren’t pushing your business but are sharing your knowledge and encouraging people to share their questions, problems, and successes.
  3. Stay top of mind. With a Facebook Profile or Page, there is no guarantee that your content will be seen unless people go directly to your Profile or Page. With a group, anything that is posted in the group will 100% be seen in the members News Feed. So, the more you post, the more you are seen by potential clients.
  4. Get feedback. Within your group, you can create polls, ask for feedback, and determine what type of content is more relevant to your members and ideal clients. Your group can be a testing ground – if you get positive feedback – move forward. If you missed the mark, then you know you need to move on to the next idea.
  5. Announce special offers. If you’ve tried to announce a special offer on your Business Page, you’ve probably been met with very little engagement. Unless you put some advertising dollars behind it, the odds are most of your followers aren’t even seeing it. BUT when you post in your Group – 100% of your members will see your offer.

Building an online community is an important step for any growing business. It can help you get in touch with your key demographic, gather insights, promote your business, increase consumer loyalty and more. If you want to start building a community, look no further than the world’s most popular social network: Facebook. If you want to start your own Facebook Group from your Business Page: CLICK HERE.

Want to check our Red Barn\’s Facebook Group – Entrepreneur Masters? Click Here to Join!

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