The E-Factor: Entrepreneurship in the Social Media Age
Adrie Reinders, Marion Freijsen
Format: PDF / Kindle (mobi) / ePub
As serial entrepreneurs and cofounders of the largest social network for entrepreneurs in the world, EFactor.com, Adrie Reinders and Marion Freijsen know about the challenges facing new entrepreneurs in the current business environment. Their site—with a community of one million-plus and growing rapidly—is a virtual marketplace for entrepreneurs to make business connections, negotiate deals, exchange information, and advertise their products and services.
In The E-Factor, Reinders and Freijsen educate entrepreneurs on the pitfalls that take down most entrepreneurs before they get started, such as restricted resources, skills gaps, and financial limitations, and show you how to overcome these obstacles. Discover how best to secure funding for your fledgling startup and how to use new forms of social media work to your advantage. Along the way, read a wide array of case studies of successes and learn lessons from others’ failures, including those from small business owners and burgeoning entrepreneurs, all the way up to multinational corporations, global brand leaders, and the founders themselves.
The E-Factor shows you how to gain leverage and evaluate and reassess goals, products, and company structure to meet needs in a competitive environment. Combine the best traditional entrepreneurial thinking with new tools, ideas, and channels now at your disposal.
Hits and Misses as Told by Missoni and Target High-fashion collaborations with Target Corporation, one of the nation’s biggest discount retail chains, are not a new The_E_Factor_CS5_[FIN].indd 46 8/21/12 8:01 AM N E W T O O L S O F E N G A G E M E N T : T H E W O R L D O F S O C I A L M E D I A 47 phenomenon. Starting in 2007 with the Proenza Schouler GO International series, Target has partnered with a long list of top-tier designers. Their latest project with Missoni, an Italian
generate profitability—and, for that, you need clients and more of them in the pipeline. Here again, a connector can bring you clients or point you toward those they think will be interested in what you have to offer. 10. Exposure. Like a walking billboard for your business, a connector can not only get you clients but can help you develop your image, identity, and brand within your target markets. Perhaps they even have expertise related to media, public relations, marketing, and online social
come. Then filter those experiences by how they might apply to current and future opportunities. With hindsight, it seems easy to regulate your reaction and respond more efficiently to obstacles and challenges faced as entrepreneurs. By being a visionary and a willing explorer, you can exploit each and every opportunity to increase your capabilities and expand your knowledge. The right solutions will present themselves when you open up your mind and study the past first to maneuver your way
financial support or incentive for a person or entity to provide testimony for a product. Otherwise, they will face a fine. All of these examples share strategies and approaches that illustrate why some companies fail—or stumble—in how they market themselves, approach their customers, and handle their mistakes. Although these have all focused on online social media marketing campaigns, they illustrate specific lessons that you can apply as an entrepreneur with your own businesses or startups. You
to be the driving force behind the vision, not to mention the billboard for the world beyond the company’s walls. The_E_Factor_CS5_[FIN].indd 162 8/21/12 8:01 AM A N E W V I S I O N F O R T O D AY ’ S E N T R E P R E N E U R 163 Next, you hit a phase of consolidation and controlled growth or an exit. This is not the most appealing period in my view because it involves hiring and managing groups of people. The first time you do this, it is a massive challenge of course because you want