Nov. 22, 2017 "What will I earn as a social media influencer?": Today I found this article by Jared Lindzon in the Globe and Mail:
The role
The relatively new label of social media influencer doesn’t have a precise definition and can be measured in a number of ways.
Some believe it has to do with the number of followers one has on social media; others suggest it only applies to those who partner with brands to market or advertise to their followers, no matter how many they have; while others believe it applies to those who have committed to building, promoting and marketing their online presences full-time.
Further muddying the definition is the fact social-media influencers come in many different forms and speak to many different audiences: from fashion bloggers and makeup artists to travel writers, professional athletes, industry insiders, singers, chefs, connoisseurs, entrepreneurs, models, photographers and just about anyone else who has the attention of one or more audience groups via social media.
“That’s the issue: It’s very vague and it will remain vague for as long as it’s not accredited or institutionalized,” said Alen Palander, a Toronto-based photographer, videographer and social-media influencer with nearly 130,000 Instagram followers.
Different types of influencers will focus on reaching their audiences through different types of content and on different platforms, but most spend a majority of their time creating and promoting content and connecting with brands to partner with for sponsorship opportunities.
Salary
Because there is no agreed-upon point when a social-media user becomes an actual influencer, nor when an influencer becomes an actual celebrity, the salary can technically range from nothing to millions. In fact, by some definitions, Canadian pop star Justin Bieber is a social-media influencer, not only because of his significant social media following, but also because he got his start posting music videos on YouTube.
“You can’t just say, ‘I want to be a social-media influencer,’ and start making money,” said Mr. Palander, who built his social following over the past half decade.
“The first step is creating that following, and that takes a lot of time; for some, it takes years, and others get lucky and amass that following in months.”
Mr. Palander said that what separates those who are making lots of money from those who aren’t isn’t just a matter of how big their following is.
“The people who are making good money off of social media aren’t just influencers, they’re business people. They understand how to work with an industry, but also lead an industry,” he said.
Mr. Palander added that salaries differ, depending on perceived influence, partnerships and relationships with brands and the type of influencer.
For example, makeup, fashion and luxury-travel influencers are supported by industries with significant advertising budgets and appetites for partnerships with influencers.
Education
While there are no educational requirements for being a social media influencer, certain educational backgrounds can be of benefit. First and foremost is having an above-average knowledge of a field. For example, attending a culinary school would likely be of benefit to a foodie influencer, but is by no means mandatory.
“It’s very important to have an educational background that teaches organizational and analytical skills,” Mr. Palander said.
“I came from a design and urban planning background where we were taught many interdisciplinary skills, like how to create proposals and work with clients, but also manage our own business as freelancers.”
While social-media influencers have a wide range of educational backgrounds, some training in business, marketing, social studies or communication can be beneficial.
Job prospects
Social-media influencer is a very competitive job and while some will flourish effortlessly, others can struggle to gain traction.
“It is a very competitive industry for anyone who wants to do it, but it also has a lot to do with luck,” Mr. Palander said.
“It’s calculated luck: It’s about following trends, but also breaking trends and starting trends. Those things take time and sometimes people don’t get lucky and do it for years and don’t get anywhere with it.”
Challenges
While some effortlessly fall into being social-media influencers by monetizing popular online presences, others set out to be influencers and ultimately fail to amass significant-enough followings.
Why they do it
Those who are able to earn livings as social-media influencers often feel as if they’re getting paid to follow their own interests and passions, while cementing themselves as celebrities of sorts among communities they care about.
Misconceptions
One of the greatest misconceptions about social-media influencers, according to Mr. Palander, is that it’s not much more work than maintaining any other social-media account.
“People think that you literally wake up, take a photo, share it and that’s it,” he said.
“People think that you literally wake up, take a photo, share it and that’s it,” he said.
“This is a full-time job, meaning that you spend just as much time on your phone and computer, if not more, than the average person with a nine-to-five.”
Dec. 13, 2017 "The five mistakes every entrepreneur should make": Today I found this article by Brian Scudamore in the Globe and Mail:
Early in my career, I remember asking one of my mentors what mistakes I should avoid as a new entrepreneur. My young business was going strong and I was afraid to do anything to throw it off balance. If I knew then what I know now, I would have asked a very different question.
If we use them right, mistakes can be our biggest learning experiences. They are not something to avoid – they should be embraced as a part of the journey. Here are five mistakes every entrepreneur should make if they want to build a successful, long-lasting business.
1. Using money as a motivator
I started hauling junk for one reason: I needed a way to pay for college. When the business took off, I wanted to become a millionaire as fast as possible. But using money as my primary source of motivation backfired – big time.
I overlooked the importance of culture and hiring happy, passionate people. I didn't prioritize my relationships, both in and out of the office. I failed to take time for myself away from the business. As a result, the business, my marriage and my health suffered. It was rock bottom for me, but it was an experience I had to go through to learn what truly mattered.
My priorities have changed a lot since then. Now, I'm motivated by building something special that extraordinary people want to be a part of. I focus on relationships, personal development and self-fulfillment, and it's made all the difference.
2. Hiring the wrong people
In a startup, your team might be a little lean. It's easy to jump at any opportunity to bring people on board. My criteria for new hires used to be: can you lift at least 50 pounds? If the answer was yes, that was good enough for me.
As we grew, I had to tighten up on hiring. But five years in, I realized I was still making mistakes. I was hiring people based on experience, but I overlooked culture and personality fit. The environment in our office became so toxic that I started avoiding it altogether.
I knew had to make a drastic change – I fired all 11 employees in one day and started from scratch.
I knew had to make a drastic change – I fired all 11 employees in one day and started from scratch.
I learned the hard way what can happen when you compromise on the people you bring into your organization. Now, we've adopted an "it's all about people" philosophy, and we only hire passionate people who are aligned with our values and our goals.
3. Trying to control everything
Entrepreneurs are notorious for being control freaks, especially when they're first starting out. I used to refuse to give up control of anything. Marketing, sales, operations – you name it. I helicoptered over it all.
I get it: your business is your baby – why shouldn't you be involved in every part of it? What I've learned though, is that's just your ego talking. If you've hired the right people, you should be able to trust them to do what they do best. Bonus? Letting go frees you up to focus on the bigger picture, for instance vision and strategy.
4. Trying to kill the competition
It's only natural for new entrepreneurs to want to disrupt their industry, wiping out competition. I used to have that mindset, too, until I realized my energy was better used elsewhere.
Six years into 1-800-GOT-JUNK?, my top employee quit – and started a competing junk-removal business. At first, I was crushed. Then, I became obsessed with shutting him down.
I believed there was only enough success for one of us. Ironically, my desperation to put him out of business came at a cost to my own company: for the first time, our growth was at a standstill.
I believed there was only enough success for one of us. Ironically, my desperation to put him out of business came at a cost to my own company: for the first time, our growth was at a standstill.
Now, I know there's more than enough success to go around. Everyone benefits when you share ideas, even with the competition.
5. Not trusting your gut
If you're starting your own business, chances are someone (or everyone) has told you it won't succeed. This happened to me when I decided to franchise 1-800-GOT-JUNK?; my mentors told me a junk removal business couldn't be franchised. I almost listened to them – but then I decided to listen to my gut instead.
Yes, the odds were against us: there were hundreds of mom-and-pop junk haulers who had been in business for years, and anyone with a truck was a potential competitor. But we had something no one else did: a vision and a passion to make an ordinary business exceptional.
We found a way to set ourselves apart by professionalizing a fragmented industry. Along the way, we proved how scalable the junk business can be. The next time someone says you can't do it, trust your gut and prove them wrong.
There's really only one mistake I do advise all aspiring entrepreneurs to avoid: not starting in the first place. The biggest cause of failed businesses is that people are too afraid of failure to try.
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