Lessons learned from our mistakes are often our best teachers. But learning from the mistakes of others can help prevent us from making more mistakes in the future.
Help create your own shortcuts by learning these secrets to success from the best in the business and give yourself the head start you need to get to the finish line for the goals that your business is embarking on.
Experience and Funding Create Expansion
Vaster Capital is a Miami-based direct, private lender that has closed more than $150,000,000 of loans on South Florida residential properties since first getting started. They focus on custom-fitting bridge loan products to the economic needs of domestic and foreign real estate investors.
Vaster Capital formed a partnership with the national real estate development company, The Related Group, and Fortune International Group, two massive leaders in the space. This merging allows Vaster to offer new loan programs, including lending on commercial properties, the ability to substantially expand their offerings, and increase operational efficiency.
With Vaster Capital able to handle lending for residential, commercial, and land for development, they have expanded into a one-size-fits-all real estate operation for the lucrative South Florida region, full of pricy, valuable Miami properties.
Now that they have partnered up with more funding and industry experience entering into their equation, they can close loans quickly, lessen their workloads, and make larger power plays.
The secret to success here from Vaster Capital is to first build up the worth of your business as far up the ladder as you possibly can. Then when you hit the ceiling, be open to making intelligent partnerships to widen your reach.
Capitalization Tables for Your Company
First and foremost, a capitalization table is a spreadsheet or table that shows the equity capitalization of a company, in most cases for companies in their early stages of business, to showcase a detailed breakdown of their shareholders’ equity.
Now with that definition in mind, when starting your company, you could make great use of a debt equity capitalization table that can meet you where your company is at financially.
If you are in the position of post-money SAFEs (“simple agreement for future equity”), you can set up a cap table for that purpose. The same could be said for traditional pre-money SAFEs or for a Y Combinator stake if the incubator has a stake in the company.
Once users have completed their particular capitalization table, they can have an experienced venture lawyer look over it for finalization and to get the business formed.
Create Addictive Digital Content
Digital Content creation is required to attract and inform customers about what a brand is and has to offer while also articulating how the brand is quite different from its competitors. But it all means absolutely nothing if you create content that no one ever pays any attention to.
Here are core elements to getting creative digital content completed and accepted into the world:
Hire a full-time writing team: In order to have a high volume of content emerge on behalf of your brand on a regular basis, you need the process orchestrated by a team. Full-time writers can enable the style of your content to remain consistent across multiple platforms.
Outsource your effort: If you are not able to financially commit to a total internal team of dedicated writers, graphic designers, and editors, hire freelance writers or an agency that has their own team to get your content created.
Vivid content: Once you have landed upon an amazing niche idea to amplify your brand, convert that spark into something unique that will cut through the clutter. Think like your ideal customer and imagine what would attract their undivided attention without turning them completely off by straying too far away from your brand’s style.
Keep it personal: Be sure that you are creating personalized content that is going to attract recommendations and will make your core consumers feel recognized. Customers want to see that their shared interests with a brand are in alignment. Use customized offers and content that reflects the previous activity of a customer to attract their attention.
Make it relatable: Remember, your content is not just about explaining your business and promoting products and services. You also have to make sure that your target audience can actually be related to your content and find it useful. Make sure that you are also focusing on building trust around your business that encourages people to remain connected and be happy to show brand loyalty when they are out amongst their family and friends.
Build a Marketing Community Through Texting
Have you ever seen one of your favorite celebrities, such as Jennifer Lopez, Kerry Washington, Barack Obama, and Paul McCartney, give out their phone number and actually encourage their fans to send them a text message? This would seem like some crazy mistake that was caused by having their cell phones invaded by a hacker.
But in the modern world of social marketing, celebrities, major corporations, and up-and-coming start-up companies can share a phone number and push their messaging through to a massive collective of interested individuals looking to receive direct updates and notifications on current and future offerings that they wish to consume.
With the building of a text based marketing community, the secret to success comes in the form of establishing a direct line to interested parties looking to stay in touch with an individual or entity. But this isn’t to be confused with an opportunity for stalkers of famous people to start calling their favorite actors or singers directly.
Automated Workflows that Push Business Processes Forward
For better or for worse, the reality of modern business is that there is no longer a human hand on top of each and every process that makes a business run smoothly. With the rise of e-commerce, even local businesses are able to extend themselves into becoming global organizations.
When businesses find themselves financially strapped and unable to hire for each and every necessary task, the tech-savvy ones find ways to automate the more repetitive tasks that don’t require extensive brain power or hand-holding.
What are some of those repeatable processes that companies can choose to have converted into automated workflows? There are opportunities to automate alerts, company approvals, concerns that need to be escalated to upper management, the generation of documents, notifications, scheduled reports, and task management.
Keep your automation simple by picking a provider that can offer interfaces that are easy to operate, the ability to create email templates, change list items, store data in a variable for use in the workflow, the alteration of list item permissions, operations across various parts of the company site, establish conditions at the levels of workflow and action.
In order to set up a better workflow, make better use of your staff by having them focus on jobs that require their mind and their activity and automate the minimal tasks.
Increase Your Chances for Success
Learning the secrets to success from the best in the business can also come in the form of:
Preparing for the future by staying aware of trends.
Adapting to adversities and unexpected situations.
Researching the needs and wants of your target demographic.
Don’t keep remaining stuck in the planning phase.
Accepting new challenges.
Stop missing opportunities to advertise your company.