3 secrets to crushing competitors and doubling business value
Date: May 24, 2016
Name: 3 secrets to crushing competitors and doubling business value
Presenter: Cory Sterling
Many entrepreneurs believe they have the niche in the market; however, they could not find the right breakthrough strategy to enhance their business into the next level. Vancouver Business Network invites Cory Sterling, the Associate Lawyer at Altman & Company, to share his secrets to crush competitors and improve business value. In this presentation, entrepreneurs will learn the lawyer’s business perspective to add value on their businesses. In addition, the mindset behind these secrets will trigger entrepreneurs to look deeper into their businesses. Cory Sterling will also share some legal knowledge for early entrepreneurs.
Cory Sterling is one of the corporate and entertainment lawyers in Vancouver. Before he became a lawyer, Sterling worked as Press Manager and Content Provider for National Football League. He was also the Media Content Manager for the team Oakland Raiders. Aside from his practice in law, he is also a Group Cycling Instructor at Steve Nash Fitness World and Sports Club. Sterling is currently the Associate Lawyer at Altman & Company. His passions in law and fitness have balanced his lifestyle and he has the interest to help young entrepreneurs accomplish their dreams.
Traveling to Asia was one of important life experience for Cory Sterling. The trip helped him find the positive outlook in his life. It was the moment where he shifted from suit to casual. “Passion, Authenticity, and Service” are the three key factors in Sterling’s life. He has the passion to help his clients when they need him the most. Authenticity is the pillar of his life, and he is grateful to have the privilege to service law with others.
Sterling believes in quality repetition. By doing fundamental again and again will sharpen the necessary skill sets for entrepreneurs. By living passionately, Sterling has consistently achieving every goal he set.
Sterling shares 3 secrets that will help entrepreneurs double their business value.
Secret #1: Understanding
Sterling believes many entrepreneurs are doing things because they see other people are doing them. They do things just to do them. They usually are caught in the motions, such as social media trend. Entrepreneurs need to understand their true reasoning behind their vision. Sterling shares 3 steps.
- Set a specific goal
- Think about the why of the goal
- Take action that can satisfy the why
Entrepreneurs can imagine a perfect business and associate the feeling of being in a perfect business. When they remember the feeling, they need to work backwards. Sterling suggests entrepreneurs to do informational interviews. These interviews will help them find ways to meet the right people. They need to pay attention to the details because it leads them to their idea clients. Entrepreneurs can use this opportunity to get advice from them. This teaches them how to get the right clients, but they should never start assuming them as clients.
Secret #2: Action and authenticity
Sterling defines authenticity is to find a way to truly be themselves in their business and their lives. Authenticity is the way for entrepreneurs to recognize themselves as unique. Expectation is the opposite of authenticity. It is the poison because it constraints entrepreneurs in certain ways.
Entrepreneurs must create authentic connections because that is the best way to lead them to ideal clients. Being authentic is to be honest of themselves and find their personal element. Sterling indicates authentic is simple, but no one is doing it because it is difficult and it takes a lot of work.
It is impossible to succeed without the 4 elements.
- Unhindered self-belief
- Trust the process
- Patience
- Self-love and celebration of achievement
“Believe everything is a part of a bigger picture”
When entrepreneurs start not to believe themselves, no one will step will. Every entrepreneur has a gift and every one of them is capable of sharing with the world that no one else could. Entrepreneurs need to use this seed and build and grow from it.
Sterling defines action as an intentional decision acted upon. Vision with direction is a critical aspect of action. No matter the size, momentum is everything for entrepreneurs. Entrepreneurs should recognize action as a piece of a bigger puzzle. Sterling suggests entrepreneurs to start networking. Networking can help entrepreneurs to set the frame and become more strategic.
“Doing, not thinking”
Secret #3: The law
When entrepreneurs utilize the law, they can crush competitors. Entrepreneurs need to think about the best corporate structure. Sole proprietorship or corporation can change entrepreneurs’ business direction. This includes the factor of cash flow, tax and liability.
Entrepreneurs should think about their intellectual property, such as trademark and copyright, to protect their businesses. Customized agreement is important because it gives the first impression. Words can reflect their brand; therefore, Sterling recommends entrepreneurs to write agreement in a tone of their client’s voice.
Entrepreneurs need to do it right at the start. This is the decision of either pay lawyer first or pays them later. When young entrepreneurs start their business, they need a lawyer. Pay the lawyer now can have the total control; nevertheless, by paying it later, young entrepreneurs are taking the risk because they will need to pay 10 times more later when headache comes. Lastly, entrepreneurs need to pay attention on the liability and waivers as well.