Advice Every “Wantrapreneur” Should Know – 16 Keys to a Successful Business
With almost 20 years under my belt as an entrepreneur, I feel as if I’ve made just about every mistake in the business owner’s playbook. So, here to prevent you from making any of these, I present my top 15 pieces of business advice for the budding entrepreneur.
1. Be Your Brand – Authenticity is the secret to business longevity; trying to be someone you’re not just leads to failure.
2. Remain Consistent – Great brands don’t shift strategy, change colors, or alter their messages willy-nilly; consistency is essential for building mindshare…and market share.
3. Embrace the Follow Up – Nothing separates success from “almost” faster than follow up. Do it immediately and always!
4. Keep One Calendar – Put business, personal, vacation, wellness, and networking events all on the same calendar so that you don’t overlook anything; it also makes sure you get to those essential doctor appointments too!Keep One Calendar! Put everything you do- business, home, family-in one place. #businesstips Click To Tweet
5. Schedule “Me” Time – Vacation isn’t option for an entrepreneur, it’s essential! Tune out and off occasionally.
6. Work with People You Love – My litmus test is simple: if I don’t want to hug you, I don’t want to work with you.
7. Not Everyone is Your Prospect – Narrow your target to hone in on your marketing messages. And, It’s OK to decide that you don’t want certain clients or types of businesses.
8. Revenues Before Expenses – Do you need a shopping cart if you’re not yet selling product? Is that app a “nice to have” or a “must have.” Differentiate the 2 to put you on the path to profitability.
9. Manage Your Money – Know what you’re owed; 50% upfront is not the only option in a service business. Plus, make sure you get paid quickly and easily. Take a look at Quickbooks’ option: https://quickbooks.intuit.com/invoicing/
10. Create a Logical Pricing Strategy – Provide different options at different price points and reward longer commitments with more discounts. Note the fallacy in this offer from People Magazine:
150 weekly issues for just 89¢ per issue (that’s 150 weekly issues for just $133.50) Savings of 81% off the cover price
100 weekly issues for just 89¢ per issue (that’s 100 weekly issues for just $89.00) Savings of 81% off the cover price
50 weekly issues for just 89¢ per issue (that’s 50 weekly issues for just $44.50) Savings of 81% off the cover price
11. Have a Back Up Plan – Something will go wrong at presentations and speeches; you need a Plan B, C, etc.
12. Keep Business Cards Everywhere – Being at an event without your biz card is like going to a networking event naked. You might get noticed, but there won’t be any good follow up.
13. Wear Shoes You Can Stand In – This one is for ladies: if you can’t stand in your shoes for 8 hours, switch shoes. Save your Jimmy Choos for a night out and instead, embrace comfy, and stylish shoes.
14. Network Effectively – Determine which groups include your target or influencers; meet one-on-one to build relationships.
15. Consume a Variety of Media – You must know what the world is talking about to tap into the news or talk about the news. Know what’s trending, what sizzles, and what fizzles.
16. Never Stop Marketing – Even if you have all clients you can handle today, it doesn’t guarantee enough business for tomorrow.Never Stop Marketing! Clients today doesn't guarantee a full business tomorrow. #businesstips Click To Tweet
What is your sage business advice? What did I miss? Please share below.