To become a fully-fledged owner of an enterprise you cannot take your eye away from the ball. If you do, especially at the start of the business you may end up facing considerable problems down the line. Here are three reasons why you probably have not joined the ranks of successful entrepreneurs.
The Fan Following Mantra
When you start out a business, you cannot blindly follow a module that has been around for decades. Sometimes this works, but imitating another enterprise by following their modus operandi will not cut it down the line. You need to figure out your own sales pitch and the unique aspects of the business. Stick to a good profit driving methodology and you will make the impossible possible. If you want to run the business, herd mentality will never take your business places. Generate a fan base of your own across social media and other networking avenues. This will bring in the revenues and productivity will churn out extensively.
An Improper Strategic Approach
It is all about strategy when you talk business. To get a startup to take off, channelizing resources is of prime importance. This entails that you have a clear idea about the market that needs to be tapped along with a clear roadmap. If these basic facts are not on the blueprint and the agenda of the business plan, chances are the strategic approach was never on point.
Every market is competitive and to get an edge over competition requires a robust approach to beat them at their own game. It is easy to use the old method of advertising to herald the arrival of a new business. But when you change the rhetoric and the placement of ideas from mere words to a visual stimulus, clients will take the bait. Aside from using this as a pitch, it is essential to change the course occasionally, without causing an upset in the overall strategic approach.
When the basis of a new idea becomes a plan to get wealthier than the competition, you pretty much have lost the plot. The objective of starting out something new that probably has been around requires a certain amount of gumption to change the direction of the sales pitch. Many entrepreneurs, who start out with gusto, lose focus once the idea has borne fruit. Wealth is a result of hard work, but to be focused on, the business will generate revenue for decades. The limited focus is the reason why many small-time businesses start out with a bang and disappear with a whimper. Quoting Henry Ford, Sebastian Greenwood once said, “Failure is simply the opportunity to begin again, this time more intelligently”.
Being an entrepreneur is a full-time career. To quote Sebastian Greenwood – “Never, ever give up. Because if you give up you lose everything.” You need to channelize your energy to get you on the right track, build a brand and make it marketable to retain loyalty. It is not easy to be a part of an industry that has everyone talking the same language. Once you carve a niche for the brand, people will stick with the product/service because the change remains constant.
Learn more about Sebastian Greenwood:
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