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Tesla May Have Made $1B on Its Bitcoin Investment

Tesla’s $1.5 billion bitcoin investment may have already made the automaker a $1 billion profit.
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February 22, 2021 3 min read
This story originally appeared on ValueWalk
Tesla CEO Elon Musk said the automaker’s bitcoin investment was “less dumb” than holding cash, and it has already paid off. An analyst estimates that Tesla has already raked in approximately $1 billion in profit on its bitcoin investment due to the cryptocurrency’s soaring price.
Analyst estimates Tesla’s bitcoin investment paid off
In a note released over the weekend, Wedbush analyst Daniel Ives said Tesla is set to make more on its bitcoin investment than profits from selling its electric vehicles in all of 2020. He did not explain how he reached his calculation of $1 billion in profits.
CNBC notes that the bitcoin price increased from an intraday high of $34,793.45 at the end of January to an intraday high of $57,487.03 on Feb. 20. That marks an approximately 65% jump, which would mean a profit of about $975 million for Tesla’s $1.5 billion bitcoin investment. The intraday high last Monday was $58,332.36, which would have temporarily put the automaker’s profit at more than $1 billion.
Earlier this month, the automaker revealed in a filing with the Securities and Exchange Commission that it had invested $1.5 billion in the cryptocurrency. Tesla said it made the purchase in January for “more flexibility to further diversify and maximize returns on our cash.”
It’s unclear whether the automaker sold any of the bitcoin after the price increased. The bitcoin price has climbed 94% so far this year. The cryptocurrency’s market cap surpassed $1 trillion last week for the first time.
Bitcoin price pulls back, thanks to Musk
Tesla is part of the Entrepreneur Index, which tracks 60 of the biggest publicly traded companies still run by their founders. Tesla made its $1.5 billion bitcoin investment after Musk, one of its co-founders, tweeted his change in stance on the cryptocurrency. He just became a supporter of it this year.
Since the bitcoin price jumped after Tesla revealed its purchase and after Musk’s tweet in support of the cryptocurrency, it comes as little surprise that the price fell after Musk tweeted again. Bloomberg notes that after the automaker’s investment last week, the bitcoin price surged 20% to surpass $58,000 for the first time.
Over the weekend, Musk tweeted that bitcoin prices “seem high.” This month alone, the cryptocurrency’s value is up by over 60%. It reached yet another new high on Sunday, approaching $59,000. Bloomberg suggests that the weekend volatility in bitcoin prices may be driven by people trading the cryptocurrency at home.
The news outlet also suggests that institutional investors, who work Monday through Friday, may have started selling today after Musk’s tweet. The price pulled back today, falling below $53,000.

4 Ways to Identify How Your Display Ads Impact Search Ad Performance

As someone who has always been on the agency side of things, I am used to the pushback against Display advertising in Google. The number one reason I hear why clients do not want to use them is that they typically do not perform as well as Search. Of course they do not. The user intent between the networks is completely different.

But just because users are not as likely to convert, it does not mean Display ads are invaluable. There are several ways you can check and see if Display Ads are impacting overall performance on Google, and we’ll be covering four of those methods in this post. The methods involve:
Display-specific Google Analytics audiences
Observation audiences
Google Trends
View-through conversions
Let’s begin.
1. Create display-specific Google Analytics audiences
When you are in Google Analytics, click on the Admin button in the lower right-hand corner of your window. The middle column will be your Property column in Universal Analytics. Click on Audience Definitions towards the bottom of the middle column.

In Audience Definitions, we can create audiences from so many metrics available within Google Analytics. Before you can create an audience in Google Analytics, however, you must have Edit permissions to the property. Click on the red “New Audience” button, and soon you will find yourself in the Audience Builder. With the Audience Builder, and how you have your Display campaigns set up in Google Ads, there could be a variety of ways to build audiences from Display Network traffic. I always have “Display” in my Display campaign names so I can create a Traffic Source audience to include any visits from users who came to my site via a campaign with “Display” in the name.

If you manually tag your Display URLs with a specific source and medium, you can create an audience that way. If you use specific landing pages for your Display campaigns, you can create an audience in Google Analytics from just those landing page visits. There are a variety of ways you can do this. I just wanted to make it clear we can build audiences from our Display traffic in a variety of ways.
Now before you save the audience, you will want to make sure you are adding the audience to both Google Ads and Google Analytics. And this is a trick I learned a long time ago from Amy Bishop. I wanted to make sure she got credit for teaching me this.

The reason we want to make sure our audience is added to Google Analytics is because we can review the performance of this audience within the Google Analytics Audience report. In Google Analytics, go to the left-hand column and click “Audiences.” Then click on the subcategory which is a second “Audiences.”

In this report, you will be able to see if anyone within your audiences has converted within your selected date range. So when we create an audience from Display campaigns, we can then go back and see if anyone who came to the website eventually converted. The numbers I see from Google Analytics audiences and direct conversions from Display campaigns in Google Ads are typically different. The difference I usually experience is that the numbers in Google Analytics are higher because Display is more of a first interaction approach unless you are doing remarketing. This has helped me showcase to clients when users were not converting from my Display campaigns, that those users were eventually coming back to the site via many of our other channels and converting. This helped prove the impact of using Display to build the initial brand or product awareness.
Note: You can create this type of audience in Google Analytics 4 as well, but I wanted to stick with the more familiar Universal Analytics way of doing it for this post.
2. Apply those audiences in observation mode
After you have your audiences created in Google Analytics (if you created them using the Google Ads audience manager, that is completely fine too), I highly recommend adding each of these audiences as an Observation audience to all of your Search Network campaigns. Observation audiences are bid-only audiences in Google Ads. We are not specifically targeting users within our Display audiences we just created. We just want to observe how users within this Display audience come back and interact with our Google Ads campaigns.
When you are in Audience Manager in Google Ads, you can select your Display audiences you just created. Once you click on the checkbox next to your audience, a blue bar will pop up on the screen. You can then choose to add that audience to as many ad groups or campaigns as you would like. Of course, I am going to recommend adding them to all of your campaigns because who does not want more information?

Now what we are doing is essentially creating Observation RLSA campaigns. While we are not targeting users in these audiences, the RLSA audience rules still apply to the Search campaigns. This means your audience needs to have at least 1,000 cookies within that audience before we can start seeing the data show up in the Google Ads Audience report. But if you do have enough data, you can start seeing how your Display audiences are performing compared to the account averages or other audiences in the account.

The biggest grain of salt when reviewing RLSA audiences as a success metric is that we are only seeing if users within your Display audience come back and interact with your other Google Ads campaigns. And those campaigns have to be enabled for us to gather the Observation information. This tactic is helpful from the impact on your paid search campaigns, but it will not help prove the impact on other search sources. Maybe users went back to your site through organic search. Maybe they came back to your site via a Microsoft Ads search campaign. We do not get the full picture using Observation audiences, but it can give you additional information on what users are searching for after interacting with your Display ads.
3. Monitor Google trends to see if volume changes
Depending on the goals of the Display campaign, I like to monitor how search trends change after we launch the campaign. If we are launching an overall brand campaign, I am going to monitor the most important brand keywords to see if we see more searches across Google. If we are bidding on brand terms in Google or Microsoft, we will also monitor if impressions increased for those keywords.

If our Display campaign is focused on specific products or services, we will pull specific branded product keywords and see if we see any growth. In the case of brand new products with zero awareness, we will see if any searches start showing up. Now it is always important to keep in mind any other channels you may be using to build the awareness. If you are running Display with social campaigns, YouTube ads, direct mail, etc., it is pretty hard to prove that the impact on Search was from just Display. But if you are only running Display to build awareness, I would look for changes in the interest over time to see if search volumes changed in your favor.
4. Monitor Your View-Through Conversions
Now this tactic is not Search-specific, but it is one I monitor when I run any type of Display campaign. When you are reviewing your Display campaigns, you have the ability to adjust your columns in Google Ads. One column I always have selected for my Display campaigns is the View-through conversions column. You can find this option when in the Conversions section when modifying your column views.

View-through conversions do not include any conversions from users who have interacted with your other ads. In other words, View-through conversions are not included in the regular Conversions column totals. These conversions occur when someone sees, but does not interact with your ad. And seeing the ad means at least 50% of the ad was visible on the user’s screen. So this action is very applicable to Display campaigns which can have a lower CTR compared to other paid media channels. People might see your Display ads, but they are not ready to click on it because they were on a particular website or app for different reasons.

We use view-through metrics to evaluate impressed-based impact on our Display campaigns. Then we like to go back to our assisted conversion metrics in Google Ads and see how these users are coming back and converting. In many cases, users are coming back via search (both paid and organic) to make the conversion. That is how we can really see the value of just having Display ads visible to a user.
See how your Display ads affect Search with these tips
Can Display campaigns in Google Ads convert? Yes. Absolutely. But even if your Display campaigns are not converting, you have to review the complete impact your Display efforts are having before turning them off. Take the ideas I laid out in this post and apply them to your account. Are users going back to Google and searching for your brand after seeing or clicking on your Display ad? There are several ways we can review this. Display is great for building the awareness to drive more Search traffic, and hopefully you can now see how that is possible.

Did a tweet from Elon Musk cause the Bitcoin crash? This is what we know

February 22, 2021 6 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

A couple of weeks ago, tycoon Elon Musk invested $ 1.5 billion in Bitcoin through his company Tesla . The transaction raised the market value above one trillion dollars and the cryptocurrency reached a price above $ 58,000 . However, despite the gains that the purchase has brought him, the CEO of SpaceX hinted that perhaps Bitcoin is overvalued.
Since Saturday, February 21, Bitcoin (BTC) began to show peaks that pointed to the upside. Tesla’s investment, added to those of Mastercard and BNY Mellon , caused its market value to exceed $ 1 trillion for the first time that day.
By Sunday night the 22nd, the cryptocurrency surpassed $ 58,000 per unit. That is, almost double the $ 29,000 it cost on January 27, its lowest price so far this year.

$ 58,250.
– Bitcoin (@Bitcoin) February 21, 2021
During the first hours of this Monday, February 22, Bitcoin plummeted below $ 53,000 , representing a drop of between 8 and 10% .
Ethereum , the second largest digital currency by market capitalization, set a record of more than $ 2,000 per unit on Saturday. However, this Monday it also fell to around $ 1,700. Still, you can see significant growth, as Ethereum started the year trading at just $ 730.
Elon Musk joins the Bitcoin fever
Earlier this month, Tesla announced a $ 1.5 billion investment in Bitcoin. According to experts, Musk acquired 43,000 bitcoins during various operations in January. The median price last month was nearly $ 35,000. In addition, the company declared itself ready to accept cryptocurrency as a means of payment for its electric cars.
With this bet, Tesla made a profit close to a billion dollars , says Dan Ives, specialist at Wedbush Securities. “To put this in perspective, Tesla is on a path to make more of its investments in Bitcoin than the proceeds from the sale of its electric vehicles in all of 2020,” Ives wrote in a note this Saturday.
What does Elon Musk have to do with the Bitcoin crash?
In the midst of Bitcoin’s ups and downs, last Friday a user rebuked Musk for his stance on the cryptocurrency. Economist and market strategist Peter Schiff recalled a comment the Tesla CEO made regarding BTC last December.
“According to Elon Musk ‘Bitcoin is almost as much of a hoax as fiat money.’ So Musk considers both Bitcoin and fiat money to be bullshit. I agree, I just think that Bitcoin, which is a digital fiat currency, is even more nonsense than the paper fiat currency issued by central banks. Gold is not silly. It’s real money and better than both! ” the digital money skeptic tweeted.
It should be remembered that fiat money or inorganic money is one that is not based on the value of precious metals. Instead, it is supported by the general belief that it has value, that is, the trust of a society. For example, the Dollar , the British Pound , the Euro and the Yen are fiat money.
Hours later, the 49-year-old tycoon responded bluntly:
“An email that says you have gold is not the same as having gold. You could also have cryptocurrencies. Money is just a piece of information that allows us to avoid the inconvenience of bartering. That data, like all data, is subject to latency and error. The system will evolve toward that which minimizes both , ”Musk explained.

An email saying you have gold is not the same as having gold. You might as well have crypto.Money is just data that allows us to avoid the inconvenience of barter.That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.
– Elon Musk (@elonmusk) February 20, 2021
Next, the founder of SpaceX published the tweet that everyone associates with the fall of Bitcoin: “That said, BTC and ETH (bitcoin and ethereum) seem to be high.”

That said, BTC & ETH do seem high lol
– Elon Musk (@elonmusk) February 20, 2021
Many attribute the depreciation of Bitcoin to Musk’s tweet , as the temporal proximity between the two events could give the feeling of cause and effect. However, Musk’s statement came two days before the cryptocurrency reached its all-time high. That is, even after the businessman hinted that perhaps BTC is overvalued , its price continued to rise.
On the other hand, the Bitcoin crash occurred until this Monday morning, which does not square with the immediate effects that Elon Musk’s tweets have when it comes to electronic currencies. It is enough to remember the times that the value of the Dogecoin has increased just by mentioning it on your social network. Therefore, it would be very risky to say that the businessman caused the cryptocurrency to fall, although it cannot be completely ruled out either.

How Covid-19 Has Changed Lean Manufacturing Practices: A Case Study With iBASEt

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Manufacturing is undergoing huge changes, and not just because of the coronavirus pandemic.
Lean manufacturing is built on the premise that reducing waste, eliminating redundancies, and operating with precision are key to succeeding in the marketplace. 
In this model, extra inventory equals wasted resources. It assumes a supply chain that is always on, always available, and always responsive.
But as we’re seeing, that assumption doesn’t always work. For manufacturers that create things like parts for cars, planes, machinery, and other major equipment, a “just-in-time” inventory model—in which you keep only the bare minimum of additional inventory you need to meet customer demand—can’t operate if plants are shut down for three weeks, say, due to a global pandemic. 
This new reality is a challenge to lean manufacturing, but it doesn’t mean the model itself is no longer relevant. What it does mean is that transparency and real-time visibility are critical if companies are to continue operating on lean principles. 

One company, iBASEt, has been working in the supply chain visibility tech space for some time, and over the past year, the need for their services has skyrocketed. I recently spoke with iBASEt’s CEO, Naveen Poonian, on how lean manufacturing is changing in the wake of the pandemic. Here’s what he had to say. 
The challenge for lean companies
The biggest challenge for manufacturers in industries like aerospace and automotive, as we emerge from the pandemic, will be this: Finding ways to keep their lean practices from negatively impacting their recovery. 

“What we know is that when demand comes back, it’s going to come back quickly,” Poonian says. “There’s so much pent-up demand for travel, for new cars, for example. If manufacturers wait to get their supply levels up until it’s very obvious that the comeback has occurred, you’re in trouble. Other companies will have moved in first.” 
In other words, if you’re operating on the principle that you want as little idle inventory as possible, you won’t be prepared to ramp up as quickly as you need to. 
Real-time information is key
One way to balance lean processes with the “next to normal” that we’ll emerge into as the pandemic wanes is to invest in technologies that offer real-time visibility into everything from your supply chain to your orders. 
This not only allows you to prepare for the future with more and better information. It also allows you to react more quickly when you do see demand speed up or slow down, which will give your company a real competitive advantage. “Companies need to improve their real-time visibility so they can see the metrics that matter,” says Poonian. “Seeing all your results in real-time is very different from seeing it in a report at the end of the week.” 
Cloud-based tech allows for greater interoperability and systems integration
G Suite, Microsoft Office, and other cloud-based programs that we’re all familiar with have made fast, easy software updates the norm. Since everything is based in the cloud, updating the software can happen frequently, automatically, and without disrupting users’ workflow. 
This is not, however, the norm in manufacturing, which in many cases is tied to monolithic, server-based systems that are extremely costly to maintain, in terms of both time and money. What’s more, these programs often are difficult to integrate with other systems that come online as the plant’s needs change or mature. 
The problem here—in addition to the strain on resources—is that real-time visibility and performance can only be achieved if you have interoperable, integrated systems. 
iBASEt is the first in the manufacturing tech world to adopt this cloud-based, microservices architecture model, following in the path of Amazon, Netflix, and Spotify among others. “With this model, you don’t have to rip out the old and put in the new—you just keep improving it. You’re continuing to update and modify without any impact on the user experience,” says Poonian. “It’s perfectly primed to meet the need for real-time data. And there’s no problem connecting one cloud app to another, as it’s done through APIs.” 
Lean manufacturing will have to adjust in order to meet this “next to normal,” and soon. Companies that wait until they can be certain the demand is there will find themselves out of the running—while those that invest in tech that creates more transparency and real-time visibility will come out ahead.

New Tool Allows Freelancers to Get Paid Quicker and in Native Currency

Getting paid for work, or – better still – getting paid on time, can be the bane of freelancers’ life. A tool therefore that promises to streamline the payment process for freelancers is likely to be greeted with open arms.
In walks Accelerated Payment, a new tool by Stoke Talent, a leading freelance management system. The tool enables businesses to pay freelancers, consultants, and contract workers within 24 hours. Not only are freelancers paid within a day, but the system makes payments via preferred payment methods and in the freelancer’s chosen currency.

Managing Freelancer Expenses with Accelerated Payment
One of the biggest issues facing the freelance community and the businesses that take on freelancers, is getting paid. Payments for freelance, contracted work can be notoriously late. Getting paid in the right currency can also be challenging, as can being paid via a preferred payment method.
In light of the challenges, it is not uncommon for freelancers to use online platforms for invoicing and managing relationships with clients.
Retaining Top Freelance Talent
Businesses that make late payments resulting in freelancers having to keep chasing for payments, run the risk of losing quality freelancers. With professional freelancers going elsewhere for work, businesses can miss out on retaining top freelance talent, all because of inefficient payments. For small businesses, losing freelancers with specialist skillsets can be extremely detrimental to business operations and ultimately profitability.
By utilizing Stoke Talent’s Accelerated Payment platform, both freelancers and the businesses that use their services can benefit from a more streamlined payment approach.
Shahar Erez, Co-founder & CEO of Stoke Talent, commented on the need for advanced payment tools designed specifically for the freelance community.
“The freelance economy is booming, and it is becoming increasingly competitive for companies to work with specialized freelancers with strong expertise in areas like AI, UI/UX design, and digital marketing, among other areas.
“Around 70% of freelancers are younger than 35 – a generation that is accustomed to a digital-first world and expects real-time payments. They don’t want to wait 42 days for a wire transfer, and frankly, they shouldn’t have to. Stoke Talent’s Accelerated Payments tool eliminates that pain point and makes the process easy for both companies and freelancers,” Erez added.
Making Payments in the Right Currency
With the Accelerated Payments tool, businesses can not only make payments faster, but they can make them in any currency. Research shows that a growing number of freelancers are wanting to be paid in their local currency.  The Accelerated Payments system ensures payments are made on time and in the currency of a freelancer’s choice.
With more people working from home than ever before, the pandemic has increased demand for the specialist services of professional freelancers. Subsequently, the challenges involved in hiring freelance staff has also proliferated. As this new working culture looks set to stay for the long-term, it’s vital both businesses and freelancers have the right tools to foster strong relationship.
By making payments quicker and more efficient, Stoke Talent’s new payment tools looks set to nurture a healthy and simplified working solution for the burgeoning freelancer community.
Image: stoketalent

A Stylist Auctions His First Haircut After Confinement and Manages to Sell It for More Than $480

All the money will go to charity.
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February 22, 2021 2 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Let’s be honest, in these uncertain times, a good look change does not fall badly for anyone and even more so after a long confinement. After passing a maximum peak of infections in mid-December in Germany, they are about to open the doors of different businesses in the region. Among them, the aesthetics.
With this in mind, people in the country began requesting appointments with their trusted hairdressers. Among them Andreas Nuissl, who received so many requests that he decided to do something special to grant the first shift.
Image: Depositphotos
The stylist auctioned off his first haircut after lockdown via Ebay with his clients. Nuissi thanked the participation and explained on his Facebook page where the money raised would go.
“Congratulations to my highest bidder. Thanks to all who participated and contributed to the success of the bid, “the publication reads.
It was possible to raise 422 euros, that is, more than 10,000 Mexican pesos. But not only that, but other clients and friends raised the amount of 1,310 euros, about 33 thousand pesos. In addition, he hopes that after opening on March 1, more donations will arrive.

The money will go to two charities: Bayreith Tafel, who distribute food with donations, and Round Table 98, which helps children in need.

How Success Happened for Netflix Co-Founder Marc Randolph

The co-founder of Netflix on why there is no such thing as a good idea.
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February 22, 2021 5 min read
Opinions expressed by Entrepreneur contributors are their own.
I recently had the pleasure of interviewing serial entrepreneur Marc Randolph, best known for being the co-founder and first CEO of Netflix, for my recent episode of How Success Happens. 
Listen to Marc’s full episode on The How Success Happens Podcast
When he and Reed Hastings started Netflix, they could never have predicted what the company would one day become, or how different the business would start to look just a decade later. In fact, the company started almost by chance, when Marc’s company was acquired by Pure Atria, whose founder, Reed Hastings, lived close enough to Marc that carpooling (and kicking around some ideas on the drive) just made sense. After tossing around a few admittedly weird ideas (personalized shampoo anyone?), and a conversation around a new thing called DVDs, the idea of movie rentals by mail started to make sense. 
Related: Listen to Alex Rodriguez on The How Success Happens Podcast
It’s been over 20 years since Netflix was founded, and Marc still remembers how many people told him that the idea would never work – so much so that he titled his book and his podcast “That Will Never Work.” And throughout my conversation with Marc, he made one thing very clear – movie rentals by mail was not a good idea. 
Marc told me that after 40 years of starting businesses and coaching fellow entrepreneurs, he has learned that there is actually no such thing as a good idea. He said that every idea collapses under the weight of having to confront a real problem, but once you recognize that, you can start to test the idea and unpack the reasons why it is not working. That’s what’s driven Marc through every step of his entrepreneurial journey—a passion for solving problems, of getting together with smart, passionate people, and figuring something out. After all, when he started his first business, “entrepreneur” wasn’t even a well-known term, and as he’ll say, not something you did to get rich. You had to really want to do something new. 
When we discussed testing ideas, Marc’s face lit up, and he told me a story about how he and Reed decided to see if the idea for Netflix was even possible, considering how fragile these discs tended to be. After mailing a CD locally (DVDs hadn’t even entered the market yet), they were thrilled to see that it got there in one piece, in one day, for the cost of a single stamp. Was the test perfect? Of course not. There were a million ways that the DVD rental service could fail, but in that moment, the idea went from concept to reality. That single test was invaluable. What’s more, Marc started his career in the mail-order department of a sheet music company, some 15 years earlier. It almost feels like he came full-circle, taking his experience in an entirely different industry and creating a brand new one with it.
As we chatted, I couldn’t help but notice how proud Marc was of the company he helped create, and I asked him about why he decided to leave. He explained that, true to his passion for problem-solving, he finds happiness in the early stages of a company, discovering and overcoming and wearing different hats within an organization. As Netflix grew, it became abundantly clear that the startup stage of the business was over, and that it had become the type of company that Reed had always enjoyed running. It would make them both happier if Reed took over and Marc got to take a step back, so that’s what they did. 
Even after we finished recording, something that continued to resonate with me was Marc’s barometer for success. I’ve spoken to countless people who attributed their success to money or fame, but Marc was different. Marc measures his success based upon how happy and fulfilled a project is making him. One of my first questions was, considering the struggles that Netflix came up against in the early days, had he ever thought about quitting? His immediate answer: No. It’s just not in his DNA. That type of passion and enthusiasm is infectious, and in his new podcast, That Will Never Work, Marc brings his unique mindset and decades of experience to mentor those just starting their entrepreneurial journey. True to form, he explains that he didn’t create the podcast to gain notoriety, he created it so that he could share his wisdom with more people than just the handful of businesses that he advises. That, and because it’s fun. After all, each episode has a brand new problem to solve.
Related: Do you want to create your own branded podcast for your business?

The Rise Of The IBuyer And What Your Real Estate Agency Needs To Compete: An Interview

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iBuyers are threatening the traditional real estate brokerage model, but agents like Kevin Feely are … [+] finding ways to go above and beyond.
The real estate industry has seen plenty of technological upheavals since the pandemic began. 
As agents faced the unprecedented uncertainty of the past year, they quickly adopted tools to keep sales moving, from video tours to 3D walkthroughs to FaceTime showings. 
But that’s not the only digital transformation going on in real estate. For some time the industry has seen a rise in iBuyers—real estate companies that purchase a seller’s home with cash, online, bypassing real estate agents entirely. Some examples of iBuyers are Opendoor, Offerpad, Redfin Now, and Zillow Instant Offers. This could be the beginning of serious changes in the real estate industry, and huge trouble for agents—if they don’t find ways to compete. 
One agency leading the way in terms of staying competitive is Feely Group, a Canadian digital real estate agency run by entrepreneur Kevin Feely. Like the U.S. residential real estate market, the Canadian residential market saw a strong year in 2020—as well as an increase in iBuyer transactions. I spoke with Feely recently about what real estate agencies should be doing in the face of this new development. 

Shama Hyder: Tell me how the rise in iBuyers is changing the real estate industry. 
Kevin Feely: iBuyers and discount brokerages are gaining popularity as consumers look to avoid paying realtor fees. 
This is not just a major threat—it can actually be the career death of mediocre realtors who don’t know how to provide value and exceed their clients’ expectations. The best way to provide this value is through our professional marketing and negotiation skills. Agents must always be adapting to new marketing strategies and methods on how to get their sellers more in their pocket. 

Hyder: What advice would you give to agents who are struggling to compete with this new option?
Feely: My first tip is to always be marketing and prospecting. At Feely Group, we’re always running ads and adding buyers to our database. We have so many buyers that we sell 30 percent of our listings without hitting the market. 
Not only are we able to provide the sellers the price and closing they want without having tons of strangers walking through their house (especially during Covid) but we are also able to provide our buyers with exclusive access to their dream homes before other buyers.
Second, it’s important to note that 69% of home sellers don’t use the realtor they bought their house with. That’s because most agents see their clients as one sale, and then they move on. 
Instead, realize that you could—and should—be developing long-term relationships with those clients. They may not buy or sell again for 10 years, but when they do, they’ll think of you. We pride ourselves on going the extra mile for clients, and 50% of all our business is repeat customers.
Consider ways that you can offer concrete benefits to your clients that they won’t get through other agencies. For example, everyone says they’ll sell your home for the most amount of money. Or what? The listing expires. 
We will actually give our clients a cash offer on their home as an insurance policy, and we’ll buy it if it doesn’t sell. As we are now in a very hot seller’s market, we’ve adapted our offer. We now offer to sell our client’s homes for 101% of market value or we’ll pay them the difference! If that’s too risky or not possible for your agency, think of other ways you can provide value.
Finally, I’d advise any agent to join a progressive team or brokerage. iBuyers will not only be the death of the mediocre real estate agent, but also the death of the mediocre real estate brokerage. 
Most brokerages are stuck in the past when it comes to how things were done and haven’t incorporated technology the way they need to. The truth is they’ll all be phased out very soon. Choose an agency that’s on the rise and gives you the ability to grow. When choosing a brokerage, ask yourself the same question your clients ask you: How can I benefit from this? What’s in it for me?
The real estate industry has defied expectations throughout the pandemic, coming out stronger than before, while also proving itself to be highly adaptable. As more young entrepreneurs like Feely enter real estate I believe that we’ll see what he predicts: a phasing out of agencies that haven’t managed to adapt, while the industry itself evolves into a more high-tech, fully digital model.

There is No Need to Be Everywhere — So Stop Trying

February 22, 2021 4 min read
Opinions expressed by Entrepreneur contributors are their own.
“Opportunities seem more valuable to us when their availability is limited.”    -Robert B. Cialdini
How did Coco Chanel turn Chanel no 5 into the best-selling perfume of all time?
In Robert Greene’s “The Laws of Human Nature,” he wrote that Chanel would slip bottles of the perfume “into the bags of her wealthiest and best-connected clients.”
Soon word of her fragrance spread like wildfire and women flocked to her store. She deliberately kept stock in short supply. This made it even more popular. Now it’s the best-selling perfume in history.
Scarcity drove up demand.
Today this may work even better than in Chanel’s time. 
Just look around. Doesn’t it feel as though everything is accessible? We’re used to overnight shipping, food delivery in minutes, and movies on demand.
This has created a need for the inverse. There’s opportunity for the contrarian.
Savvy marketers recognize this. As the saying goes, “one is an example, two is a coincidence, and three is a trend.” 
Related: 3 Strategies Robert Coorey Advises to Help You Sell in Today’s Market
In the last few months:1) Clubhouse exploded in popularity (it is invite only)2) Luxury fashion brand Botega Veneta left social media3) Travis Scott’s McDonald’s meal (available for a limited time) was a hit
What do they have in common?
They all leveraged scarcity. They all had cultural impact. 
Clubhouse is the most buzzed about new app. They’ve never spent a dime on advertising. How’d they do it? 
They manufactured scarcity by making it invite only. It became the ultimate humblebrag to share on Twitter that you were ‘in’ Clubhouse. It’s become so sought after that people are paying for invites on ebay. 
Luxury fashion brand Botega Veneta deleted their social media accounts. The outcome has been a wave of press and intrigue.
According to a McDonald’s memo that was leaked, the Travis Scott collaboration was almost too successful. It stated:
“We’ve created a program that’s so compelling to our customers that it’s stretching our world-class supply chain; and if demand continues at these levels, more restaurants will break supply.”
How is it that scarcity has so much influence over us? 
Robert B. Cialdini, author of “Influence: The Psychology of Persuasion,” noted that usually something harder to get is more valuable. As a result, we’ve internalized this as a mental shortcut.
Related: Supreme Clientele: Branding Lessons From Businesses That Use …
Scarcity = valuable
Ironically, a number of tools are emerging making it easy for anyone to create exclusivity. Discord and Onlyfans, in particular, stand out. 
These communities are filling a void in the market. They’re creating turnkey exclusivity in an era of ubiquity. 
I see this as the beginning of a growing trend.
For brands, this will result in VIP services for specific clientele. 
In China, it’s a tactic that’s already become popular. Many retailers provide a high touch approach with VIP customers directly over Wechat. They have sales associates develop more personal relationships with customers and provide 1:1 previews of products and address personalized inquiries.
For creators, influencers, and community builders, walled gardens will become increasingly important. 
Many will transition to private communities with exclusive content offerings like Logan Paul’s Maverick Club. If you’re not familiar, Paul has a member’s site where fans pay for access to exclusive content.
The site boasts that, “we’re serious when we say this is one of the most intimate team experiences in the world. From exclusive, uncut content, to real-life hangouts, insane giveaways, limited edition Maverick Clothing.”
The challenge today is we’ve been burned. 
An advertiser, influencer, or any community builder can no longer feign scarcity. They need to commit to it.
As the pendulum swings away from ubiquity toward exclusivity, many will inevitably stumble. We’ve heard ‘exclusive access’ and ‘limited time offer’ enough times to know that it’s very rarely true.  
Related: Marketing, business – Getting Customers Excited About Your Product

WhatsApp Will Stop Working if You Don't Accept Its New Privacy Policies

As of May 15, WhatsApp users will have to accept the update of their privacy policy or delete their account.
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February 22, 2021 3 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

A few days ago, WhatsApp announced that it will allow its users to review the new privacy policies “at their own pace .” While lengthening the deadline to accept the update helped calm the wave of complaints, the app will stop working for users who reject the measures.
Controversy broke out last January over changes to WhatsApp’s terms and conditions . These include displaying advertisements and allowing users to authorize the platform to share data with Facebook , for commercial purposes.
The protests and the massive flight of users to other messaging apps such as Telegram and Signal, forced the company to postpone the deadline for accepting the update , from February 8 to May 15 .

Nothing comes between you and your privacy. Messaging with a business is optional, and their chats are clearly labeled on the app. You are in control.For more information, please read:
– WhatsApp (@WhatsApp) February 18, 2021
“Nothing stands between you and your privacy. Messaging with a company is optional and your chats are clearly labeled in the app. You are in control,” states WhatsApp on Twitter.
In an email addressed to a business partner, Mark Zuckerberg’s application notes that it will “slowly ask” users to accept the update “to have the full functionality of WhatsApp,” said the TechCrunch portal.
The plan was confirmed on the WhatsApp website , where they clarify that if by May 15 you have not accepted, there will be consequences.

What happens if I can’t access the WhatsApp update?
Although, they affirm that the platform will not delete your account , “you will not have access to all the functions of WhatsApp until you accept them .” After that date, for a few weeks “you will be able to receive calls and notifications, but you will not be able to read or send messages from the application”.
WhatsApp policy states that inactive user accounts “are generally deleted after 120 days of inactivity.” So if you take too long to authorize or stop connecting, you could lose your account and all your activity: conversations, photos, backups, etc. If you decide to reinstall it later, you will only be able to recover the little that has been stored on your device.
The platform is very clear about the options that its users now have: accept the update or delete their account.
Despite the complaints and controversy, the company ensures that the data shared with Facebook does not change . ” Your acceptance of the new conditions of service does not expand the ability of WhatsApp to share user data with Facebook,” emphasizes the platform.
Since 2016, WhatsApp’s privacy policies allow it to share certain metadata with Facebook , such as device information and user’s phone number . The new terms will allow both platforms to share payment and transaction data to better target ads, while expanding their e-commerce offerings.