If there’s one thing TikTok is doing correctly, it’s protecting people from getting drawn into cults, *cough* sorry… pyramid schemes and multi-level marketing companies. The video sharing platform just banned any content that promotes these types of companies by updating their community guidelines yesterday, specifically requesting content that “depicts or promotes Ponzi, multi-level marketing, or pyramid schemes” not be shared.
If you haven’t been touched by the hands of a wonderful MLM yet, a multi-level marketing company recruits individuals to sell products and services for a commission incentive while also rewarding them for recruiting people to buy and sell the company’s products “under them”… thus, creating a “pyramid”. The companies are legal, but receive a lot of flack for the lack of success people actually have with them. Pyramid schemes (kinda the same thing) are illegal. The difference is pyramids make their money from recruiting members only. No product sales are involved.
This must mean TikTok has gotten an influx of doTERRA, Young Living, Lularoe, Beachbody, Herbalife and Kangon sales people lately.
MLMs sound good in theory, but even though they have brought in $34.9 billion revenue in the US alone, 73% of MLM participants lose money or don’t make anything from being a part of the company.
Can we just stick to silly dog videos and family dance routines on TikTok, please?
Holy Hell, the ‘Burbs Are Taking Over
Maybe it’s not such a bad thing…COVID-19 sure has changed the way we operate and many major cities now look like a dead zone. Corporations have shut down, large retailers have moved to selling online only and busy streets are eerily quiet.
Where’d everyone go? The suburbs, apparently! Small businesses are thriving, local communities are poppin’ and COVID-19 restrictions tend to be “looser”.
Since the populations of our suburbs are getting denser, that means more traffic. But instead of making Main Streets across the country turn into LA’s bumper-to-bumper freeways, people are using micro-mobility in areas we haven’t seen before. E-scooters, e-bikes, regular bikes, and similar options have typically only been a thing in major cities. Suburbians have tended to stick to their cars, and granted, locations are farther apart from one another in the ‘burbs than in densely populated cities.
Maybe it’s all the former urban dwellers taking over middle America, or the fact that people need cost-effective options to get around, or the whole sustainability/environmentally friendly thing is finally locking into our mindset. On the contrary, people might just be reluctant to use public transportation since you can’t really stay six feet apart from one another.
It’s no wonder so many micro-mobility startups have been popping up this year and getting massive VC funding. E-scooters can cut someone’s commute time by 70%… #justsayin’. Even though Uber, Lime and Bird were the first to take off in the US with their e-scooters and e-bikes, companies around the world like Tier, Voi, Fenix, Bolt and Skip (just to name a few) caught the attention of VC-ers and received funding this year.
Between autonomous vehicles and micro mobility solutions, driving your own car to work is going to be lame AF pretty soon.
Where do you see micro-mobility going next year? Hit reply and give us your opinion!
Time to Pass the Baton
Hey… founder… yes, you! I’ve got news for you. If you’re going to grow your startup and expand your team in 2021, that means passing over the baton to a head of business development. Don’t have one? Better start looking.
If you’re wondering what to look for in a head of business development, it’s really up to you and what you need for that role. Often this person has their hands in aspects of marketing, sales, outside partners and managing customer relationships. If you’re ready to scale operations and sell more products, or if you’re not doing a good job getting new customers or getting current customers to buy again, this is a perfect time to hire a business development person.
To find the “right one”, come up with a job description that describes where your company will be one year from now, so candidates get a clear picture of the trajectory and possibilities for growth they have within the company. You’ll want to clarify the professional standard you’re looking for and what your company culture is like. Founder of Evisort Jerry Ting recommends mentioning things like the market perspective you want this person to have and how much room they have to tweak your product.
When your description is ready, post it everywhere and anywhere because people are looking. Use LinkedIn to peek at your competitors’ talent and even reach out to see if they know of talent looking for business development roles. “Don’t be afraid to reach out to people who you admire to see if they’re interested,” Ting suggests.
Want to know what you should be looking for in the interview? Make sure to vet your potential hires for their drive, coachability, industry knowledge, willingness to learn, and experience. Hopefully they’ve worked at two or three other startups that are similar to yours that are also where you want to grow your company in the next five to seven years.
This should go without saying, but don’t forget to look at the measurable results they have achieved for previous employers, along with relationships they’ve managed or deals they’ve acquired. You need to see that they are bold and willing to take risks (that pay off).
Who are you hiring for your company next year and why? Give us your insider scoop by hitting reply!