11 episodes

In this world of infinite information, The Pink Suit isn’t here to tell you all the answers. In fact, it will probably leave you with more questions than answers. The Pink Suit will dive into business and technology: expanding on starting and growing a business and exploring the depths of the new emerging technologies that are changing our world and what you can do to be a leader in their space.

The Pink Suit Podcast Sydney Phillips

    • Entrepreneurship
    • 5.0, 8 Ratings

In this world of infinite information, The Pink Suit isn’t here to tell you all the answers. In fact, it will probably leave you with more questions than answers. The Pink Suit will dive into business and technology: expanding on starting and growing a business and exploring the depths of the new emerging technologies that are changing our world and what you can do to be a leader in their space.

    How to monetize your social media

    How to monetize your social media

    How to monetize your social mediaI’m going to take a chance and assume that you spend at least an hour of your day on social media. Whether you are creating or consuming the content, wouldn’t it be nice to make money off of that attention, time and data? Today’s topic is going to highlight the ways to monetize your social media, such as Instagram, Tik Tok, LinkedIn, Facebook, and Twitter. Affiliate links – Essentially, you recommend a product or service to your followers. Your audience will then purchase the product or service using your affiliate link and you get paid commission for the sales made. This is a simple and low effort way to recommend products that you actually like, be able to share them with your audience & create an extra income stream. Book – This monetization strategy can include an e-book, audiobook or a paperback. This will undoubtedly take more time to build but once it is done, you’ll have a lifetime to continue to collect on your work. Online course – This is a great way to monetize if you have a solidified niche. You can offer an online course that shows them the ins and outs of the business or a process that you conduct within the business. The number one goal should be to provide value -- genuine value. Again, this monetization strategy will take some time to build, but once it is, you can charge higher prices due to the more intense work Speaking engagements – The book and the online course are often ways to jump off into this territory of public speaking. Around every niche is podcasts, summits, and conferences. Reach out to some of the podcasts or events in your area that may bring like-minded individuals or match your audience to grow your brand and your name. Contributor/Guest Blogger – Just as there are many podcasts, summits and conferences, there are also lots of blogs that will happily take guest writers. There are so many editors who will pay you to write about what you know. Take advantage of your knowledge and don’t be afraid to put yourself out there. Endorsements – This works in a multitude of ways but one of the most common is to talk about a product in one of your social media posts. I urge you to only take endorsements that you genuinely use and love otherwise, audiences are smart and they can smell a sell out from a mile away. Funnel for company clients – For some, this will be the last step and for others this will be the first step. Whatever you do, whether you sell apparel, have a copyrighting business or are an interior designer, use your social platforms to showcase what your work and your day looks like. People are incredibly curious about different industries, even those who already have a career. This will open tons of doors to work with clients around the world and in a multitude of different industries. I hope you found this week’s podcast of how to monetize your social media helpful! As always, subscribe to the pink suit and I will see you here next week, same time and same place!

    • 3 min
    5 Ways Blockchain Will Change Real Estate

    5 Ways Blockchain Will Change Real Estate

    We’ve all heard of blockchain before .... in fact, Blockchain first got traction with the very popular cryptocurrency, bitcoin. Let’s be clear here: cryptocurrency, or otherwise your familiarity with bitcoin and blockchain are not the same thing. The blockchain is the technology that creates a network for the transactions and transferring of value to occur. Essentially, blockchain is the global marketplace – a place for the transaction to occur. The cryptocurrencies are the tokens used within these networks to send value and pay for these transactions. Cryptocurrency is essentially the actual trading of value, most comparable to how we use cash today. Today, I’m going to break down 5 ways that blockchain will change the real estate industry in the next decade. Real Estate Investing – Real estate investing has historically only been available to those with large sums of cash that can buy a property, especially in regards to commercial and multifamily housing. Blockchain will decentralize the process through crowdsourcing and tokenization. When you tokenize a real estate asset, the property owner can actually offer digital tokens that represent a share of their property. This allows the barrier to entry to drop & allows more people to invest in cash flowing properties. Property Search Process – The real estate marketplace is built in the Ethereum blockchain. Buyers, sellers, and other agents can use the platform for free, earning rewards for contributing data and helping to maintain the marketplace. Data is encrypted and stored on a blockchain, which means that no company can control or alter it, and all of the data is controlled by the listing party. Due diligence – All parties involved in the process of the transaction have digital identities. These identities can be verified through the blockchain and can help to save a tremendous amount of time and headache of rummaging through old papers to trace the steps. Real estate properties will also have a digital identity. This identity can consolidate information that a lister and a potential buyer would find useful, such as vacancy, tenant profile, financial and legal status and the financials such as monthly cash flow. Smart contracts – Smart contracts have been a revolutionizing trend in the real estate industry. essentially, they digitize contracts for sale and are verified. This solution streamlines one of the most boring parts of the process: transferring of property titles while also adding some layers of security. Rather than sifting through file cabinets to find the appropriate contracts and then keeping them, it only makes sense that we would move to smart contracts, which can then be verified through the blockchain. Financing and payment systems – There are a lot of intermediaries in the real estate industry. A lot. The current prices for mortgage approval for residential properties takes on average around 30 – 60 days to complete, and around 90 days for commercial properties. By putting all of the transactions on the Ethereum blockchain, all parties involved can actually view the current state of the deal in real time. For instance, let’s say that the lister accepts the buyer’s offer, the Ethereum would track this point in the transaction and all parties involved would be able to proceed swiftly and more efficiently. Get ready for blockchain to make its way into our lives through the places we live, work and love. As always, subscribe to the pink suit and we will see you here next week, same time & place!       

    • 3 min
    Personality Selling

    Personality Selling

    Personality Selling The phrase “build it and they will come” couldn’t be farther from the truth. It goes a little more like “build it and scream it from the rooftops and then they might come.” It’s no secret that different approaches catch different people’s attention.I’m sure at some point, you have taken a personality test. If you haven’t, you need to. There’s the Meyers-Briggs personality test, DISC assessment and people call them all sorts of things, but regardless of what test you use, you’ll be able to use these strategies to implement into your sales and marketing aspects of your team to increase your sales and get the customers you want to want you!The first is Assertive. An assertive personality type will speak in statements rather than questions and are often a little louder than average. If you’re selling to an assertive, here are some things to remember:  Professionalism is particularly important to them --if you don’t know an answer, tell them you will follow up and do so in a timely manner.They appreciate efficiency, so get to the point and get to it fast or they will lose interest and tune out. Keep your sentences short and to the point.Take advantage of their competitive streak and show them how your product will help them to compete with others in the industry.Avoid anything that isn’t a fact. Personal opinions and testimonials are practically wasting breathe when you’re selling to an assertive, they want facts.The second is Amiable. An amiable personality type is normally a phenomenal listener and they aren’t afraid to ask those personal questions to get to know you outside of a work setting. They are generally more laid-back and informal, so if you’re selling to an amiable, here are some things to remember:Building rapport will be most important. Amiable’s need to feel safe in their relationship with your company before they’ll be comfortable doing business with you.Storytelling and customer experiences are the perfect way to build trust and show them how you and your product or service can be of value to them. A good story about how this customer came to you with a problem and you solved it helps them to visualize the bigger picture and emotionally connect with you.Rather than information overloading, it’s important to guide this personality type through the process and to act as a guide through it all.Amiable’s are risk-averse, meaning they don’t like the feeling of looming uncertainty. After building rapport, give them a personal guarantee and offer to refund their purchase if they don’t absolutely love it.The third is Expressive. An expressive personality type values personal relationships at the highest degree. They are concerned with other people’s well-being and they want to know how decisions affect all of the people around them. Expressive’s are creative, outgoing, spontaneous and they often rely on their feelings rather than logic. If you’re selling to an expressive, here’s some things to remember:Show them your history. Expressive’s want to make sure that you are looking out for them so that they can look out for the people around them. Show them the progress and amazing things you have already done to help other businesses and individuals.Keep an ongoing relationship. Loyalty is important to the expressive personality type and it’s important to continuously build this rapport.Don’t focus too much on facts and figures. Data is important but an expressive wants to be told them from a humanist perspective – tell them how the data will affect their team. The fourth is Analytic. The analytical personality type loves all things data, facts, and figures. As no-nonsense people, they’ll look right past your beautifully crafted hook and probably research you before the meeting. They are also incredibly diligent about vetting, focus on logic

    • 5 min
    Preparing for Productivity

    Preparing for Productivity

    Preparing yourself for a productive day can sometimes feel unproductive in itself. You’re a time conscious, goal crushing being just trying to seize the day. Knowing what to focus on in the moment for the future is a category of puzzling questions, and entire category of books have been wrote addressing these same topics. In this podcast, we will talk about how to plan and prepare for productivity with 5 easy things you can use to keep yourself on track. The first step is to create 2 – 3 goals for the month. To avoid overwhelming yourself with a gruesome to-do list, choose just a few things that you will focus on for the month. It’s important to incredibly clear and specific about these goals. The more detailed that you are, the easier it will be to set your goals. For example: don’t just say “I want to make more money” ... replace it with a “I want to bring in an additional $5,000 a month of income from my jewelry side hustle” The second step to prepare for productivity is to create a schedule. It’s widely said that “the key to success is through your habits.” Some even go as far to say “Show me your habits, and I’ll show you your future.” Breaking down what your goal looks like day to day or even week to week is a great way to pencil in the habits that will contribute to your success. Map out your days by creating a schedule and implementing a task to complete that is associated with your goal. The third step to plan for productivity is to rid yourself of distractions. This requires a lot of honesty about yourself to yourself. What has your attention that shouldn’t? Make a list of all of the things that distract you on a daily basis and then find a way to get rid of those distractions. Time is very important, and we don’t want to waste it by getting distracted with a twitter notification or the ding of a text message every 5 minutes. The fourth step to preparing for productivity is accountability. Support is always a blessing when it comes to our goals. Finding like-minded people can take a while but, join clubs in your interests and stay in contact with the people you meet. There are certain people that you know you can share ideas with and they will give you honest feedback, spark new conversations or tell you something that you may have overlooked. Having a sense of community and implementing this feedback loop into your productive process will skyrocket you ahead of your competition. The fifth and final step to preparing and planning productivity is to be positive. The process isn’t always fun. Sometimes you just won’t be in the mood or you will want to give up. It’s okay to rest, but don’t give up. Falling a little short is always better than not trying at all. If you consider redefining ‘failure’ as not trying rather than not succeeding, you will be far more optimistic and excited about the goals you set rather than letting the negative self-talk get in the way of your goals. As always, subscribe to the pink suit and we will see you here next week, same time and same place.

    • 3 min
    How to Invest in the Right Startup

    How to Invest in the Right Startup

    Shark Tank has been a long time favorite of mine (and pretty much any kid that had a TV.) The excitement of the pitch, the questions after, and the potential deal looming in the air was enough to make you cheer for your favorite underdog. The startup culture across the world has been supported by the movement of Angel Investors. Essentially, angels can be wealthy individuals, industry experts or even an angel group consisting of a large amount of angels that may come together for a joint investment.With the popularity of crowdfunding, your neighbor down the block or a total stranger could potentially become a financial backer. As investing in businesses becomes more like investing in stocks, having some guidelines for investment isn’t a bad place to start. But, how do you evaluate businesses that aren’t even in the same realm? If they are private businesses, how do you find information? I’m going to walk you through 5 criteria for investment that I personally use.The first is founder investment. Is the founder invested financially and operationally into their venture? I’m always surprised by the few founders who have managed to startup without a dime of their own money. If they don’t have skin in the game, they don’t have skin to lose. And if they don’t have skin to lose, they will have less of a problem to lose yours. The second is the number of founders. The ideal spot is 2 - 4 founders. A one-man show can be difficult to execute on all of the tasks and milestones that they need to in order to scale. However, teams with a large amount of founders can often have too many cooks in the kitchen. If there’s too many decision-makers, the likelihood of the team in conflict increases and the decisions can be weary. In essence, in order to lead the team, some of the team needs to be followers.The third is a large total addressable market. When you’re investing into a business, you want to see that they are scalable. Can they expand this business to other parts of the country? Can they expand the business to other parts of the world? As an investor, your greatest return on investment would likely be from an IPO.The fourth is to avoid high rounds. The truth is to just get in early. Your dollar will go farther, your return will likely be higher but your risk is also inflated. Choose whatever strategy is best for you individually but the higher the round, the less return you will make.The fifth is post-revenue or history of experienced and proven entrepreneurs. If the entrepreneur or the founding team have a proven track record, they will likely know what they are doing and be able to create those generous returns. However, if this is the entrepreneurs first time around it’s best to see post-revenue. Post-revenue is important to judge if the market believes in their product as much as they do.As always, subscribe to the pink suit and we will see you here next week, same time and same place.

    • 3 min
    5 Ways Augmented Reality Will Change Your Life

    5 Ways Augmented Reality Will Change Your Life

     Augmented Reality first got its claim to fame with the release of Pokemon Go. Part of the reason this technology is so desirable is its incredible accessibility. What’s the one thing that you wouldn’t dare to leave the house without? Your phone. Tech companies aren’t the only ones that know this. Augmented Reality is going to completely change the ways in which we interact with our environment.The first way is through education. The ways that we teach are dated and past the stage of adoration for “old-school.” Augmented reality can help educators to create interactive experiences. Rather than reading from a textbook about chemical reactions, students will be able to use their phones to hover over the page and witness the explosion, watch the molecules move and more.The second way is through retail shopping. Retailers have started to use augmented reality in their stores. With the increase of online shopping, retail has to be an experience to entice customers to come into the store. One of the most common use cases is using it to suggest other items to complete a look. This is certainly not going away anytime soon. Several retail shoppers have already started to use this method to engage customer and have tremendous success. As the new generations of individuals would rather spend money on experiences than items, retailers have found ways to make material items an experience, proving themselves worthy of longevity.The third way is through navigation. Augmented reality can be used to navigate from within a building as well. Your calendar will sync to an AR interface that will point you to the elevators, to the correct floor, and then walk you to the direct office for your meeting. Convenience is king and on-site property organizers will quickly disappear. But, how does this effect office work? Well, like many other emerging technologies, it allows you to use your resources more efficiently.The fourth way is through health care. Augmented surgery will become a new norm – imagine bring able to conduct surgery with the confidence and digital overlay of augmented reality. This will help to prevent errors in stressful and detailed times. Additionally, augmented diagnosis can help a doctor to accurate diagnose their patient. There are a number of augmented reality companies to help nurses find where a patient’s vein is. This is incredibly helpful to speed up the process of diagnosis and the accuracy that the doctor can diagnose.The fifth way is through real estate. Augmented reality will change the way real estate is bought, sold, and interacted with. Let’s begin with the process of finding and selecting the property of your future home. Augmented reality can create a virtual walk through of the property before you even have to visit. This saves you as the buyer time and money and does the same for the property manager. In addition to using augmented reality for the selling and buying of homes, it can also be used in offices, hotels and apartment complexes to create a young and vibrant interactive community.Augmented reality will change our world – regardless of industry. The key to being ready. for it is to just be adaptive and nimble with the new technology.As always, subscribe to the pink suit and we will see you here next week - same time same place!   

    • 3 min

Customer Reviews

5.0 out of 5
8 Ratings

8 Ratings

Top Podcasts In Entrepreneurship