You’ve asked me over and over what the rules are for success as an entrepreneur. As a serial entrepreneur (I was working at my family store at age 5), I’ve given a lot of thought what makes a business “go”. I’ve come up with my super six rules for success as as an entrepreneur. I presented these as part of my three day Take Action Get Profits event. In future articles, I’d like share more in depth hints on how to apply these rules to your business. In this article, I’m just posting a summary to get you started.
The Six Rules for Entrepreneurial Success
1. Determine your Business Advantage. This is the first place where entrepreneurs get stuck. But, it shouldn’t be. Everyone is different – so even if there are a dozen other people in your town who do exactly what you do… they won’t do it the same way. You need to know how you are different – so you can highlight those differences and attract *your* ideal clients to you. Your perfect clients won’t be happy with somebody else. Find your tribe and your business will thrive.
2. Set up the fundamentals then move on; don’t become caught up in “perfectionism” or “analysis“. paralysis.” If entrepreneurs don’t get stuck on rule #1 – many get tripped up with rule #2. The surest way to add stress to your business is to get stuck in the start up phase. There is so much to do in the beginning. Just make a list, get it done and move on. Yes, it will be ugly (I look at some of my old stuff and cringe), but it will work, you’ll grow and your materials will continue to improve. Just do it.
3. Marketing has one main purpose – lead generation – then turn leads into sales strategy and convert into sale. If I had $5 for every client who put on one teleseminar, but wanted to quit because they didn’t sell anything (even though they added dozens to hundreds to their list) I would be a wealthy woman. The purpose of marketing is to get people to listen to you and to want to connect. Once you’ve connected, then work on converting. But, give it time.
4. Relationship Marketing – prospect needs to know, like, and trust you then they will buy from you. This is closely related to #3. The internet is a big scary place. Do you really want to buy from someone you barely know? Nope, I didn’t think so. Building connection and giving value makes people more likely to buy from you over time.
5. Leverage your time – add team members. You cannot do it all yourself! Do you fix your own car? Fill your own teeth? The biggest mistake I see people making is not hiring help soon enough. There are people who live to help you with all the tasks you need to create a successful business. Just because you think you can do something – doesn’t mean that you should! (I have a degree in accounting and don’t do my own books). Start with a business coach, then a virtual assistant. It is amazing what a good VA can do in just 10 hours a month (yes, a month, not a week).
6. Discomfort creates Growth! What is true in the stock market is true in life. The greater the risks the greater the rewards. I’m not advocating doing anything that will put your family in danger – but putting yourself out there and taking small risks (like going to a live event, or putting on your first teleseminar), will reap you many rewards in your business.
What are you doing to grow your business today?© Copyright 2012 Michele A Scism