location

5 Advantages of Small Town Entrepreneurail Living

by Paul Joseph October 3, 2011 Featured

I live in a small Midwestern town of about 100,000 people. You’ve likely flown over it on your way to a coast. It’s called Columbia and it’s in the great state of Missouri. The weather is nice about three months a year and it’s a pain in the ass to travel to and from. But despite its challenges, Columbia gives me what I can’t get in NYC, Boston, Austin, Silicon Valley or San Diego. Columbia keeps me focused, gives me perspective, involves me in the community and gives my wife and me a great quality of life at a very low cost. I travel a lot. I’ve seen more in my 28 years than most get to see in a lifetime. I’ve been to Africa four times and Europe six times. I’ve been to Honduras, Malta, Scandinavia, and the Middle East…and about 20 other countries. Domestically, I’ve hit about 42 states. I’ve seen the world. I’ve experienced cultures. I maintain relationships with people around the globe. But despite all the amazing places we’ve seen, my wife and I choose Columbia, MO to be our home. We believe it to be the best place in the world for me to grow my businesses and for us to live our lives. Here’s why. Perspective: A few months ago I attended a business mixer at a mansion in La Jolla with slew of Ferraris and Lamborghinis parked out front. It was four hours of mingling with some of the most brilliant and driven internet marketers in southern CA. I learned, networked, and enjoyed; I was in heaven. The next day I reflected on the previous night’s festivities and found myself wanting more. I wanted more views of the coast from our rooftop poolside perch. More fast cars and designer clothes. I thought to myself, “Get it Brent. You’ve been successful. Get a big house next to the ocean. Throw big parties so you can show off your sweet new ride.” Then I thought about Columbia and it hit me: I would be laughed at if I drove around in a Lamborghini. Columbia gives me perspective on what’s important. It’s not cars, houses, jewelry, or the plethora of other garbage that people buy to feel satisfied. Life is about helping people. Columbia helps me stay pointed in the right direction. I’ll thoroughly enjoy every visit SoCal, but I’ll happily live in Columbia. Social Memory: There’s an undeniable equity that is built up by living in a small town. People know and remember me. They know my faults, my failures and my disappointments. They also know I care and try hard to give back. They know I treat people fairly and try to live honestly. This leads to real relationships built on a deep trust. We help each other, because we care about each other. Columbia isn’t filled with the talent or money of Silicon Valley . Sure, we have a growing tech community and a couple billionaires that live in town, but at its heart, Columbia is a small town comprised of entrepreneurs starting a corner cafe, a small consulting company, or providing services like small business bookkeeping in Missouri, and I love that. They say it isn’t what you know, but who you know, and with that in mind, I’d take Columbians any day of the week. Focus: I’m pretty sure I have some form of entrepreneurial ADHD. I have a constant stream of new ideas that pop into my head on a daily basis. It gets worse around other people who share my penchant for creating. Everywhere I look I see opportunities. Start this. Launch that. But almost all successful businesses take years to hit their stride. One of my favorite quotes (not sure who to attribute) is “I worked my entire life to be an overnight sensation.” Ideas are only the start and execution is what matters. So what does this have to do with Columbia? In Columbia, I can focus. I’m not distracted by the ocean, mountains, or other peoples’ ideas and opportunities. I can just focus on what I need to get done. I can execute. Cost: This is probably the most conspicuous upside to Columbia. It’s cheap. Actually, it’s really, really cheap. According to the cost of living index, I can live in Columbia at an overall 60% discount compared with NYC. Housing comes to me at an 80% discount. This means that a dollar in Columbia spends like two, or perhaps four. Make a dollar and it’s like I just gained 10-20 years of compound interest overnight. Try to get that kind of return in San Francisco. Quality of Life: This may come as a shock to some of you, but living in the Midwest doesn’t just mean cows and strip malls. In fact, Columbia has one of the most vibrant artistic communities I can imagine. We have one of the largest non-fiction film festivals ( True/False ) and one of the best BBQ and blues music events ( Roots ‘n Blues ) in the country. There are great restaurants, art galleries, and interesting shops all wrapped in a nice bow called The District (our downtown). My companies operate out of a gorgeous, modern 16,000 sq. ft. building made of glass, steel, and concrete (called Museao ). Life is good. Oh and for the job-seekers out there, we (still) have some of the lowest unemployment rates anywhere in the country. I’ll happily visit Paris, Cape Town, Vancouver, and L.A., but I’m proud to call Como (what we call Columbia) home. Brent Beshore is a serial entrepreneur who owns AdVentures (#28 on 2011 Inc. 500), blogs on entrepreneurship , and is involved in a number of startups including a digital talent agency . Read more about Brent here .

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Market for Location Based Services Startups in India

by Paul Joseph July 3, 2011 Featured

We at YourStory.in caught up industry experts and VCs to gain some insights into the market for Location Based Services(LBS) startups in India. Below are some bytes from the conversations. This is part of YourStory TechSparks series. TechSparks is a YourStory flagship event supported by Intel, Google, IBM, AWS, National Instruments to recognize product tech startups in India. If you are a… (Visit Yourstory.in for full news, other content, and much more!)

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Chandra Thimmannagari, VidTeq, Video Maps for Bangalore

by Paul Joseph June 2, 2011 Featured

Are you tired of asking driving directions? Are you tired of locating a business? VidTeq is here to help you out. In a conversation with YourStory.in, Chandra Thimmannagari, Founder of VidTeq tells us how. Tell us about VidTeq. We are a 3 year old startup in the field of Navigation, Location and Local Search. We build VideoMaps, Digital Maps and Search database for Navigation and Locational… (Visit Yourstory.in for full news, other content, and much more!)

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How To Segment Your Subscribers When You Run A Blog Business

by Paul Joseph May 20, 2011 Featured

I was reading Dee’s recent article in his customer segmentation series where he talked about how to segment your blog readers. One of his main premises was the difference between a person who leaves a comment, or many comments and those who don’t. I agree with Dee that these are possible options for segmenting your blog readership, but I want to expand on his piece and give some examples of my own attempts to segment my readership over the years. Blogging For Profit One of the key distinctions that must be discussed before looking at how to segment your blog readership, is the reason why you are aiming to do this in the first place. In my case, and very likely your case too, we want to segment our readers so we can achieve the following goals – Make money , often from promotional content (affiliate links and your own products) Do so without alienating your audience The challenge is always how to find a way to commercialize a blog without diluting the value of the reason people come to the blog in the first place. Often the commercial intent can be blended with the content, so you can satisfy both needs, however segmentation can take this process even further, ensuring only those who are interested in certain types of content receive it, and those who are not, don’t. To achieve this outcome you need to figure out the following – A means to identify each group by specific criteria relevant to your goals Once identified, a means to segment and continue communication with each group separately I’ve always found it difficult to use only your blog content to accurately segment readers into different groups. Sometimes you just want to make sure as many people read your content as possible with no sales message, where at other times you want to make as many sales as possible , but not turn away readers who don’t want to buy. The people who buy are a tiny percentage of your entire audience, so if you spend all day promoting to everyone, eventually you will lose your audience, unless you can find a way to bring in a continuous stream of new people who replace those you lose. Ideally we want to maximize both audience retention and growth , and maximize profit too. Segmentation Options Dee mentioned how I use text, audio podcasts and video on this blog and this is one way to segment my readership. This is true, but in terms of commercial intent (the goal of making money), I don’t segment my readership using these formats, this is merely an attempt to maximize the amount of people I can reach using different media. That’s the same reason why I have brought on more writers to this blog. With more than ten people now contributing their unique ideas and experiences, Entrepreneurs-Journey.com has grown beyond me to point where I don’t feel like it is just “my” blog anymore. We could segment our audience based on authors, or subject, or media format, or the time of day people read or what country they come from, and it would be great to know all this about my audience, but I’ll be honest with you, I found it way too difficult to figure out all this data and come out with methods to segment each group. It’s just too much and too difficult using the format of a blog. I feel it is always best to give all my content to all my readers. That was until the day I made one change. I added an email newsletter to my blog. Why My Newsletter Forced Me To Think About Segmentation Many, many, many times I’ve been asked on coaching calls – “ Which content should I put in my newsletter and which for my blog? “ The distinction isn’t always clear to people since they are both content delivery mechanisms. When I started my first newsletter I knew one thing: I was creating a newsletter to filter people into a group who were interested in one specific thing, so eventually I could sell them something. Here’s a key difference between a blog and an email newsletter (at least in 99% of the cases). Blogs do not require a person opts-in . There is no action to take to read the content, you simply find it and consume it. An email newsletter or email list asks a person to “opt-in”, by presenting some kind of offer, a reason why and what they will receive in return. You can blog away happily for a long time not worrying too much about the specific nature of your topic, as long as you stick to a specific area, and feel your way to a target market. When you start your newsletter, you have to decide the offer you are making, which very much dictates the type of subscriber your attract. This is in fact, the very first point of segmentation, taking a generic website visitor and turning them into a person who has expressed interest in a certain type of information. That first filter is a powerful segmentation step. It tells you that someone is willing to join your list to get what you offer. When I first brainstormed ideas for my email newsletter I considered two variables – What I thought my audience were interested in . What I felt I could deliver to them based on what I had done and knew about. My decision was to launch a blog traffic tips newsletter , which was added to my blog when I did a redesign to include an opt-in form. My newsletter from that point forward was my first ever attempt at segmentation with commercial intent. I know had a readership and a list of “prospects”, people who had stuck their hand up to show interest in one specific topic. This was very helpful when it came to deciding what content went where as well. From then on I wrote a series of weekly emails specifically related to blog traffic (in fact most of my articles about how to build a great blog went into my email list initially, not my blog), while my blog became a place to talk more about my experiences as an entrepreneur, including how my current businesses were going. How I Segment My Audience Today For me, email has always been a much easier tool to segment, even with just a basic autoresponder. I use the AWeber email autoresponder (read my review here – AWeber Review ), which has some simple to use segmentation tools, including – Multiple Lists The ability to create multiple lists, so you can make different offers to create different segments. For example my list of people who want to make money with blogs is one list and those who want to learn more about membership sites is another. I have others for things like my coaching programs and even for sponsors who want to advertise on my blog . This is an important segmentation tool, because you can use different lists for different levels. I have people on prospect lists (never purchased, but opted-in for free content) and customer lists (made a purchase). I can mail these lists individually, or pick and choose which ones I combine or even exclude. One good way to use this tool is to mail your prospects special offers for your products, but exclude people who already have purchased those products. You can also choose to send affiliate promotions only to certain groups depending on what you are promoting and how valuable that list is to you (for example you may not want to promote affiliate products too heavily to your paying customers to keep them focused on your products). Segmentation Based On Action Another tool within AWeber allows you to segment based on an action, for example someone clicking a link in an email, or if they opened the email or not . There are many ways to use this, but I primarily use it to reduce my unsubscribe rate when it comes to affiliate promotions. Affiliate promotions rarely interest your entire list, but for the segment that does show interest, you want to make sure they are mailed several times. Often I email my entire prospect list an email related to a product, then segment the list into people who opened the email (usually around 10%-20%). I then send the segment the followup emails about that same product, for example when the closing deadline is coming soon. By doing this I don’t send multiple emails about the same launch to people who don’t want it. I’ve also used this function to send a different email with a new subject line to the group who didn’t open the first email to see if I can get their attention. The email subject is such a critical variable when it comes to email marketing, so having this tool is like a “second chance” to mail about the same thing, without annoying the group who opened the first. Segmentation Based on Location One other nifty tool is the ability to mail only certain countries. I’ve emailed my Australian subscribers details about events in Australia, which excluded everyone else for obvious reasons. My Australian portion of my list is only about 10%, so being able to mail this group specifically is helpful, especially without annoying the rest of my peeps. A Good Autoresponder Is A Must As you can know doubt tell, having an email autoresponder that allows you to control these different elements is pretty powerful. Don’t forget you also get statistics about all these actions too, so simply by taking the steps to segment your email lists you can learn a lot about your subscribers. If you don’t already have an account, I strongly recommend you try out AWeber now . I’ve been using them for five years and I couldn’t have done what I do without my email list – www.aweber.com Simple Segmentation The main reason I focus my customer segmentation on email marketing and not my blog is that I find it much simpler that way. My blog isn’t the tool I use to segment people as much as it is the tool I use to capture attention initially. I actually see my blog more like a magazine and database of training content . The writers here at Entrepreneurs-Journey.com give you daily training and insights into our businesses. If you want more from any of us, you can visit the respective site and join the email list if available. That’s the same for Entrepreneurs-Journey and my training. If you want to learn more about making money with blogs, then you opt-in for the Blog Profits Blueprint and are then exposed to further training about that subject as well as related promotions. Segment Your Advertising The one area where the blog itself is great for segmentation is Sponsored advertising . However most bloggers don’t take advantage of it. CarAdvice.com.au (founded by my friend Alborz Fallah ), only makes money from advertising, and a heck of a lot of it (millions a year now). They make so much because they segment the sponsors based on the content and charge a premium price for targeting. In fact their only monetization method is advertising, hence they’ve become very good at it. For example Toyota might choose to place their banners only on the Toyota related content, or even sneakier, only on content about their competitor’s vehicles. By doing this they are ensured of having a very targeted reader for their advertisements. If you have a product related blog, this kind of segmented sponsorship might be a great idea. Segment With Purpose Segmentation is definitely powerful and I hope this article, and Dee’s ongoing series on customer segmentation , give you plenty of ideas for how to segment in your online business. Don’t forget the two most important rules – Segment with a purpose in mind – how can what you are doing help improve relationships with your customers and make you more money Keep it simple – there are countless segmentation options available, but only a few steps are enough to make a difference that matters Good luck! Yaro Starak Segmented Get your bonus copy of my book “How To Start An Internet Business & Make Your First $1,000 Online” Download Here

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