Just woke up today and decided to share a few things on this topic. These are things I learned on my own when I started my own business
1. Networking- Surrounding yourself with the correct people will unlock possibilities in your business that you could have never imagined on your own. Sometimes it takes one meeting to take your business to the next level. Most entrepreneurs are loners and when you isolate yourself, you limit yourself. Make it a priority to pair up with people you want to become one day, people who inspire you and motivate you. As an entrepreneur there are certain crowds that you should start distancing yourself from. Negative and ignorant people are detrimental to your business health and your progress.
2. Information- Never ever ever ever stop learning. Know all there is to know about your industry and if there is anything new, be in a position to get information on it. Information is power, and the biggest difference between a losing team and a winning team is the information they are exposed to. In this technological society you can share information with people all over the world, and discover better, simpler methods of doing the old in a new and improved way.
3. Action- Reading and learning are plausible, they are all essential for a growing business, but let it not end there. You must act on what you have read. Most entrepreneurs struggle with procrastination. They study the necessary work and plan to do it but they never get to it and it affects their businesses because planning is only half the battle. After the game plan, make sure you get to the game
4. Change- A business is not a strict model of ideas written in stone, it’s a living growing organism. This means that your business will grow into an unexpected direction, it could be drastic, new, or interesting but the key is to allow it. An entrepreneur needs to accept change and grow with the change.
Change is not always a bad thing and sometimes we will not get it right the first time, there is nothing wrong with making a mistake. Don’t kill your business because you got excessively attached to your original idea.
5. Innovate- Innovation is the key to everything in business success. Everyday people are bombarded with products, choices, and services. Today everything is an advert, even the once sacred “toilet experience” is an opportunity to sell something, and yet people’s attention span is getting shorter every day. The truth is it is not how much you spend in advertising, it is how you differentiate yourself from the next guy selling what you have. People are not looking for something improved, they are looking for something new, and more than ever it is essential that any entrepreneur who wants to make a mark become an innovator. Do it differently, be eccentric, with a touch of insanity and who knows? You just may be the talk of the town
6. It is not just the ching ching- Most new entrepreneurs are in love with the concept of making money, more than the concept of their business value. All they hear is the possibility of endless wealth and shopping sprees in Milan afterwards. Your business has to become more than a cash cow to you and you need to discover the worth of your business beyond its monetary value. Be passionate about your business, or the reason you do it, because one day it’s the reason you have to get up and work. When money becomes the entire basis of a business then that business is in trouble
7. You will never have it all- You will never have all the money, people, and time for every project you have. Resources will always be limited and you have to learn to work with what you have. Learn to stretch your skills into managing a lot with a little, and lacking resources isn’t an excuse to complain or blame someone else. It is a blessing and an opportunity to be creative and to show people how good you are. I can trust a man who can handle pressure, not a man who has always had it all, so maybe your limitations are the best thing for your business.
8. More won’t make you happy- Some people think that MORE will make them happier. More money, more clients, more contracts, more deals, more sales could never make you any happier than you are now. Yes! Life will get better and more money never hurt anyone but it will not make you happier. Getting what you always wanted does not mean you will find happiness. Happiness is in contentment and satisfaction with even little things. You can be happy with a small company and still be ambitious with great plans for the future. Don’t wait to be a multi-billion dollar company for you to find happiness
9. Failure is part of the package- One sad fact about marketing is that marketing can only be quantified AFTER the campaign is done. There is no advertising agency that can tell you for a fact how effective their campaign will be with complete accuracy. Any campaign, plan or business is a trial and error process. On your road to the Promised Land, there will be a few setbacks and failures, some may knock you down hard but you have to be willing to get back up and find another way. Entrepreneurship is not for the faint hearted, it’s a journey not a destination and no one can fully prepare you for every possibility in this journey. Failing is ok, no one expected you to get it first time around.
10. Don’t sell products, sell experiences- The best way to sell anything in the world is to sell the feeling that a product will give and not the product itself. This secret has been used by every big brand to sell, including Sean John, Apple, Coca Cola, Louis Vuitton and countless others. Most people forget that the consumer is selfish, they don’t care about your company or your brand, and they don’t care about your bottom-line unless if they have something invested in you. What they care about is themselves, all they want to know is “how will your product make my life better?” and “how would it make me feel.” What if you could sell happiness in a bottle? How much would that be worth? Would anyone spare anything for such an experience? Stop selling products and start selling the experience