Transcripts For MSNBCW Your Business 20181013 : vimarsana.co

MSNBCW Your Business October 13, 2018

Hi, everyone. Im j. J. Ramberg and welcome to your business. We all know how important it is to keep your social feeds full of fresh pictures and story, but creating all that content can be very time consuming and expensive. We met up with an entrepreneur who can keep up with the content and keep down the cost. Hes done it by enlisting customers to do and earn money for themselves uber style. The first product that we developed was a portable razor that has everything you need. Shes the inventor of this shaver call eed sphynx. Social media demands fresh images and videos on all the platforms all the time and that, leila discover, can cost thousands of dollars. It was costs 5,000. And i was getting 60 photos at the park with one or two modals. That worked well for traditional media because people used to spend a lot of time reading the newseum and magazines. I have a memory of my grand fare setting down and read about the newspaper. How many pictures did he see . Maybe 50 . The next generation will flick their fin fwuper and look at videos in a couple of seconds. According to facebook, the average time spent on a photo, 1. 7 seconds. If i can capture your attention, you will watch more. Reporter david said capturing the viewers attention is keeping it. Today we lever in a world where content fatigue is a real issue. The problem with how to capture and hold attention may seem baffling for many o ohm. Theres three million plark plaess. His Company Social native helps build large and small brands with custom tailored business. He does this. Its a worldy people want to hear from one another. He says people most le want to watch other people who loond at seept like themselves. They tune out if they cant. This is not news. Advertisers have nonthis femme a hoop time. The difference today is theyve become much more personalized. Dog lovers dont want to hear from cat owners and the technology now is to alot these. The beauty of technology is now we can give those advocates or mike hoe foneset. They need hundreds of messages reflecting the identities of each customer. No brand is going to say i have products. That is not happening. It is happening. Thats because with davids model, they can get it with all sorts of groups quickly and cheaply. Were giving them what theyre looking for. Content that looks and feels like it was made by friends and family. I can take whatever the item is and use it haw it affect me. Kimberly gets notified kind of like an uber driver. Thats just the beginning. These content providers are provides usele marketing data. You tell them which color do you want. Then i know if i need to launch that color. The pictures reveal new uses we never imagined. It would be different ways to market the brand. Its both answers a knew need and creates new. We all need water, soap, and transportation. But huh woe provide them has changed dramatically. Thats 1 hon . Theres no question about it. Were here in vegas where were talking everything retail. I took a walk through Innovation Lab where its showing everything new in retail and i took the walk with the head of the National Retail fled racing. Its so exciting to see whats going on. Innovation lab showcases technologies that retailers are employing to engage with our customers and we know in todays world its how you engage with your customer and how you sort of mary the experience of being online, being on your foerngs being in a physical low karks interacting with the sales team. Lets talk about the smart shelf. I walked up to the shelf and it was looking at me and there are all sorts of colors and points oh me. Technology like smart shelf where theyre managing the inventory, thinking about pricing and placement of the product. Messaging. What are you respoerding to. Where do your eyes go on the shelf . It helps with a whole range of things. Its fascinating. I know when e im online, they know who i am and theyre targeting anned a ad to me, so on that shelf the message for me. But as you gough through the stroir. Youre going to get things that are appealing because you know what it is, what you want. Its going to enrich the experience and it will make the customers happy. They want to be engaged and related to. They dont want to be sold something theyre froemtz. You said its ought ought miezed. I know its a discuss out there. Smart mirrors. Fascinating. Yep. How does that work . Theres sefrt din oi proefrps. Theres an opportunity for the retailer, if you want to try this vest on, whats the fit . You can go through the tablet devry on the mere. You dont have to have all the inventory there. Rather than putting on 50 different pieces, it fwevs you ooh a person whos shopping and heats shopping frmg if i could stand in front of a mirror and im given 20 fitted an i never liftz a fill faye. I picked out a swatch of fabric and saw wait loomed plij na this eric in brown, a sports caught. On you . On me on the near. It was amazing. It was spencish too. Because you bot a lot of it . It works. It sells thing, theres this ability to check out, pull something from the shelf and check out on your phone without ever talking to anyone or going to a centralized place even for a shelf checkout. Or not even putting on your phone, put it in your pocket and walk out. Osh your small bang. One of the things is the check yourt process. How do we make it as fresh and seamless and as fresh as possible. There are all kinds of technologies around point of sale and payments and around stores where its mobile checkout or. Anyone kid who is os stolen a pack of gum, no more. Congratulations on this really fantastic show. Thank you. You too. Thanks for being here. October is Small Business month and weve been commemorating it with females. In california two ladies looked at the way doctors and nurses dress. They decided to update those scrubs. Theyre the lululemon of the medical world. Reporter spend a bit of time with trina and he da and it becomes apparent this two is in synch. I make sure it goes off on times. Theyre disrupting a nearby market scratching the antiquated boxy scrub. The industry has been around for about 100 year, no chaerng and no inoh evacuation. And scrubs before figures were outdated. Reporter five years ago, is peer, a harvard nba and hassan, a handbag designer came up with a plan. We designed with thought, with function. With purpose. Yeah, with purpose. It wasnt an easy sell. There was a lot of resistance. Youre making scrubs . Everyone said, are you nuts . Now i think theyre pretty surprised with what weve created. A creation that was predestined. I wanted it to be different. I wanted to do my own thing. I grew up in miami. Youve got to be a little hustler. Theyre on a mission to unite 19 million in the health care. While they average 20 higher, its the first direct to Consumer Brand in their space. These are people that are saving lives and kurg diseases and nobody was there to deliver them a better product and better experience. A better way of thinking. They have a giveback program, threads for threads. Everything we do is antimicrobrial, so it repels an infection, wrinkleresistant, lintfree, fourway stretch, yoga pamts. Kind of what the athlete has done. One of the keys to success is having focus. It makes us great. Makes us who we are today. Its more risky in 2018 to not be taking risks and not be putting yourself out there in really scary ways than not. Being an entrepreneur, theres extreme highs and extreme lows. You really have to see the future. You have to blow lever in something bigger than yourself. Theres a lot of attention paid in the beginning when you lawn your business. But we know the hardest part are the middle years. Our next guest knows this firsthand because hes led companies. Hes a venture partner at benchmark capital. He has a new book out called the messy middle finding your way through the hart it. Its a misunderstood concept. Youve been around so many companies. Uber, pinterest as they even grown. Build the narrative before your product. It sounds like an early thing. I think a lot of teams and founders jump into building the product as a slult for the customers solving a proin. I think to stowe stop and how you want to present a splash page fills in the gaps of what your product should actually be, who your customers actually are. Sometimes you realize, wait a second. I dont know if were going have a ghoul go to market around this product. There are a number of successful on tre pre newses who have done this. He would think about the icon and driver or is it like taxis on demand and defining that up front and having that debate helps with the product i. C. E. I just interviewed the found founder and he talks about one of the things he does great is kills things off. Its the idea that they get super excited about a new simple product because of its simplicity. It take always of these new customers for granted, starts to type into the needs of their greatest customers or power users by adding complexity, adding more features, stuff that makes it a mere product. The cycle repeats itself again and again. The question is how do you maintain that simplicity as a senn. One little trick, you ask yougs, is there something live already they would trade for this new future. Is there something i would add. Ive got it. Then you end up with a product that isnt so simple and you get more stuff. Exactly. Its tough to kill anything in your product or sfgs. Anything you made you have an affection toward but if you challenge your team and say for everybodying we do were going to do a fueverything as a funct lets talk about leadership. I liken the journey, the middle miles of a journey with the windows blocked out. You dont know how far you are from your destination, what milestone youre passing. However, if the driver is narrating you through the journey and saying, hey, we just passed this milestone or landmark, in your head, youre making progress. You are the narrator of this journey for your team. I was thinking it makes perfect sense because people need to know why what theyre doing is important and wren their heading. Exactly. When it takes years to build and get customers, you have to in some way short circuit the reward system by walking people through the journey. Internal ms. Ing is as important. Scott, congratulations ar your book and its so fun to be with strong leaders set out for success. Here are five ways to keep your employees interested and active. One, practice active listening. Pay attention to what people are really saying. Rephrase it and ask questions. This will show them that you are really listening which is an important relationship tool. Two, check in often. Youve got to get regular feedback from your staff and let them know that you care. Setting up a quarterly review will allow you and your staff to clearly communicate about goals and expectations in a professional way. Three, be flexible with roles. If you have a great employee, but theyre in the wrong position, think about where else they could contribute and help them make the shift to the right job. Four, be personable. Use direct eye contact when talking to someone and minimize distractions, like your phone. Also, try using peoples names when speaking to them and give them a friendly smile making you more approachable as a boss. And, five, get social. Filleding friendships outside of a work conversation makes people happier as work, whether its grabbing coffee, or providing a team lunch, the effort is important and doesnt go unnoticed. We have news that i am excited about which is that were about to launch the third season of our podcast, been there, built that. To kick things off this week i talked to greg renfrue, founder and ceo of the Company Beauty counter and tells us how she picks herself up when things seem really hard, how she barely wore any makeup and now run as beauty line, and how red lipstick might move legislation. I hope you get a chance to listen to it. I found her incredibly interestings if you do, give us feedback. We really love hearing what you think and also spread the word if you like it. Economic it out, been there, built that, get wherever you get your podcasts. When we come back, more advice how to run a business and Holding Meetings that actually accomplish something and why you should manage your company like its a sports team. Youre in the business of helping people. Were in the business of helping you. Business loans for eligible card members up to fifty thousand dollars, decided in as little as 60 seconds. The powerful backing of american express. Dont do business without it. We have an email from bill who writes, a lot of time can be wasted in meetings. What is your advice for scaling business to get tangible outcomes from meetings and discussions and not go around in circles . Bill, its a good question. I came up through the Berkshire Hathaway system at net jet marquee jet and Warren Buffett doesnt leave time on his calendar but leaves time to meet with people. Not a lot of meetings. Indirectly deal with your direct reports on an everyday basis making sure everybodys on the same business plan. I like to call that playing business. Play business less and do business more. We now have the top two tips you need to know to grow your business. Introduce the panel and get advice. Scott hamilton, from charity water, an organization that works to supply clean water to those in need all over the world. He is also author of the new book called thirst and jessica is principal at johnson a Security Firm in the bronx. Great to see you both. We featured both of your businesses on the show, because you both have fantastic stories, and now we get to learn Something Else from you guys. Nice to see you. Thanks for having us back. So good to see you both too. For those who dont know charity water, scott, you started with nothing and raised more thanes 3 than 320 million . Yes. Helped more than 8 Million People around the world. Yep. So you really run your nonprofit like a forprofit, why im intrigued how youve grown. Capture ourselves. We say business, no. Its organization. Organizatio organization. And one thing youve learned along the way . Radical transparency. We embraced this 12 years ago. Trying to get disenchanted skeptical people who didnt trust charities to take another look. Well use 100 of your donations, prove where the money goes and in another bank account show you our overhead so youll know where all your money goes. Weve heard people say this is the First Charitable donation im making. I can see the satellite images of the wells i belt and photos and videos. Now there are sensors letting us know what theyve made. People want to see impact. Great. And congratulations. Its been really, really fun to watch you from the sidelines. Thank you. Jessica, an old veteran on the show and come on quite bit, because your company is so interesting. Its third generation. You took it over and have grown it from where it was, and your companys been through the generations, right . Definitely. But youve really taken charge. Whats something you can tell . Thanks for having us back. One tip for maintaining success as you grow your business is managing your game clock. I think about professional sports teams. Look at the championship teams. The coaches are extremely great at making sure they managed the game or whatever the season is from start to finish. So when the clock goes off, to when the clock hits 000 they are managing the intensity, managing the investment and impact of what the players do. You dont want to come out the gate grand and not be able to finish end of are the game. Measure throughout the course of the season or throughout the course of your time period what youre doing and need to reserve enough of your resources and your investment strength for the end of the game, and make sure when its going to make a difference you were doing things that matter. I think about government contracting, for example. Right . We know the government has a fiscal calendar that starts on october 1st and ends september 30th. Do you wait until october 1st to start calling on clients . No. You have to start well in advance. What we found is, when we start going out to the clients in advance of the start date, we get better results as the end date approaches and are able to monitor the impact that were having, able to use our resources better and able to deploy our people in the most timeappropriate manner. That also means sometimes you need to pull people back to rest. Take people off the court so they can get their strength and build it back up. You cant go for a whole 48 minutes, for a whole 60 minutes, or a whole year. You have to pace yourself. Managing the time clock has been significant in our success. You know this well, because i remember when we did the story on you, it was a big deal to get the big contracts when you were just a tiny shop in the bronx and beating out much bigger companies. Yes. Great to see you both. Thanks for stopping by. Thanks, j. J. This weeks your biz selfie is . Doylestown parks pa. A trainer and dog pea hav ural specialist. One kule dog. All of you, pick up your phone, take a picture of you and your business and send it to us. You can also tweet to msnbc your biz. Include your name, the name of your business, anything that makes it interesting and its location. Wed love, love seeing your photos. Thank you so much for joining us today. We love hearing from you. So if you have any questions or comments about the show, just send us an email. Its yourbusiness msnbc. Com. Want to see it again, missed anything, go to our website. Msnbc. Com yourbusiness. We put up all the segments from todays show and a lot more for you. And dont effeforget to connecth us on our podcast. And Just Launched our third season. Download it for free or from wherever you get your podcast. We look forward to seeing you next ti next time and remember, until next time, we make your business our business. Im j. J. Ramberg. The meeting of the executive finance committee is now in session. And. Adjourned. Business loans for eligible card members up to fifty thousand dollars, decided in as little as 60 seconds. The powerful backing of american express. Dont do business without it. Good morning. This is up. Im david guras in moments ago, President Trump weighing in on saudi arabia and that journalist who has disappeared. Were going to get to the bottom of it, and there will be severe punishment. The midterms get nasty, or nastier. These are bad people. Our values are being shredded. Our democracy is under assault. And a new interview, melania trump

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