Clear insights to succeed as an entrepreneur
- Become the talk of the town:
Facebook-it was launched exclusively within the scope of Harvard. However, it was only after becoming the talk of the town that it started expanding to the other universities and gradually went beyond the university students and spread around the globe.
But how does Facebook do it? It made the users fell in love with it and made them share it with their loved ones, friends, and families.
Look around some of the most loved things you know around; you came to know about them from the people around you and they get to know from the people around them. All of these people have had one thing in common; yes, they loved it!
2. Start Small:
As an entrepreneur, it is humanely justified being excited for the launch of your product or service. You would prefer to have them introduced to a large number of people. However, for the fact, larger, the people having their hands on your products, brighter are the chances for an enormous loss, if your product fails to impress.
For this reason, it seems sensible to have your product be used by some small group of people, initially. Depending on the responses, entrepreneurs can overcome the flaws and revise what would be required.
3. Give your business a personal touch:
Business requires a personal touch. Famously, Pinintersts’ founder, Ben Silbermann, in his starting days, would visit random coffee shops and would ask the people sitting there to have his app be tried. If an immensely popular apps’ founder can have his beginner days surfed in chasing and requesting, no entrepreneur in the world, while doing the same, should be feeling any shame.
4. Think smart present smarter:
Thinking about an Idea has challenges but presenting it is more challenging.
Many of the ideas fail not because they are flawed but because they couldn’t be presented in the way they should have been.
As an entrepreneur, it should be you, who has to make sure that you are delivering a right–if not the perfect– pitch to the people.
5. Make the need feel:
Explore the daily life situations, which are flawed but are dragged and pursued anyways, which could be made better but the masses never considered them inefficient, unproductive, and flawed, accepting them as a part of their lives.
You need to highlight those kinds of situations. Bring such situations to the light.
Airbnb, for example, identified that staying in hotels when traveling can get expensive and limit the overall experience. So, they created a platform where travelers could find a host of their choosing and lease out a room in their home for the duration of the trip. It was a smart way to break the mold of traditional accommodation and make each experience unique.
6. A Perennial Business:
Y Combinator- An American company that funds early startups–and had helped some of the big names in their early startups in the past including DropBox, Twitch, and Airbnb– asks young entrepreneurs the renewability of the business they are looking to launch.
Honestly, making a business succeed for initial years–or little more than initial years– is one thing, having a perennial business which endures the different coming generations, technologies, is a whole different sport.
As an entrepreneur to be successful make sure your times, your energies, and your money get invested in some venture, that has the sustainability factor.
7. Have a team– that matters:
Having a team matters for entrepreneurial success. Nevertheless, your team should be a sound mix of their skills and the skills which you lack. For instance, say you are some ingenious programmer but you don’t have the entrepreneurial skills, which you should be having, besides being a great programmer. This is where when you get your team’s back and have those skills accommodate that you lack.
Have an in-depth analysis of your personality as an entrepreneur, acknowledge the skills you lack to be one–an entrepreneur– and make a team, which would in fact make you –an entrepreneur. Only such a team would really matter.
8. Embrace Change:
There is at least one thing that does not change in the world and it is the change itself. Change is meant to occur; it is enviable. From history’s testimony, it is not the strong or powerful who survive but the one who has the capability to adapt and change.
Consider facebook again, it was launched in the year 2004. From the year 2004 to 2020, Facebook is a whole different platform now than it was when it had launched.
Facebook outperformed and outgrew its rivals and competitors by embracing the change. Time after time after time, Facebook keeps evolving. This is the sheer reason behind not only successfully maintaining their users but securing new users from any generation. Had Facebook not evolved with the time and remained–more or less–the same, it would have never become the giant of a company, as it has become today.
Owing to the great example of Facebook in front of us, entrepreneurs should keep an eye on the changing trends in their respective markets and should adapt and evolve in accordance to the trends.
Tip: Entrepreneurs to be successful, should develop a great eye for the occurring changes and trends.