Wantapreneur To Entrepreneur – 5 Keys to Starting Your Own Business

Wantapreneur To Entrepreneur - 5 Keys to Starting Your Own Business

Key #1 – Mentorship

“If I’ve seen more I have seen it from sitting in the shoulders massive creatures.”

Isaac Newton

The most successful people did not get the position they have today now by them. Highly successful people are able to lower themselves (at least for a short period of time) to solicit assistance from more intelligent people. Find successful people in what you would like to accomplish. Get advice only from them. Not only will this provide you with step-by-step instructions and help you succeed, but it also gives you confidence. It will inspire you and counterbalance the naysayers’ army that surrounds anyone who is looking to improve their life.

Key #2 Marketing

I don’t like it when people tell me, “Look at us, and we don’t spend a dime in marketing!” I say to myself, “I would like to see you happy with the place you’re in since it’s where you’ll stay.” Marketing is the core of every successful company, and the largest companies spend billions of dollars on marketing every year as they want to remain in the top position.

Implementation of marketing education and tracking a routine part of your day. You must keep track of your results in order to understand how much it will cost you to retain the customer and also how much the lifetime value of this customer is.

A few examples of #’s you could discover:

$20 per one-time fee – cost to sign up one new customer

$30/year – cost for maintaining contact with that client via email, postal mail, and phone follow up

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$200/year is the average amount every customer pays for your products

The numbers above are a perfect scenario. There is no overspending to attract or keep your customers, and they’re providing you with an excellent return on the investment.

“Sharpen The Saw,” according to Brian Tracy. In the field of marketing, if you don’t sharpen the saw regularly, then you’re behind. Take a risk and try new things. Take a listen to the “I I Love Marketing” podcast. It’s fantastic. Discover and implement new concepts. Keep track of them. Repeat. You’ll be a marketing pro in very little time.

Key #3 – Sales

“Know Your Customer”

–Brendon Burchard (The The Millionaire Messenger)

As important as it is to attract new customers, it’s equally crucial to make them convert. Your sales plan is constantly refined. Companies that are profitable are built on solid sales and marketing. Marketing + Sales = Money.

A successful sales strategy is based on knowing your customers. What are their wants? What are their concerns? What concerns and questions do they have against your company and products? Create your sales strategy in response to these questions. You should know your customer as if you’re in bed with them. Are you able to sell to someone you’re sleeping with? It’s possible that you already have!

Fourth Key – Systemization

“The E-Myth” by Michael Gerber is a must-read for any small-business owner or potential entrepreneur, and or anyone else for that matter. If you’re interested in learning the best ways to delegate, streamline and organize your business and life, take advantage of the paradigm shift in those pages. It is imperative to stop taking on everything by yourself, or you’ll be at the end of the road of growth and start pulling off your sleeves. The information in this book is a bridge between the stressed-out man who runs a cafe earning 50k a year to those who own Starbucks.

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5th Key – Persistence

We are always told that 9 of 10 smaller enterprises fail within their first year. What happens in the event that you are never satisfied? It is possible to lose all your money. However, you will only fail by quitting.

I earned 17K in my first year in the real estate industry. I was in debt the following year. I would wake up each day wearing an outfit, chugging up with coffee, and basically claiming that I was running an enterprise and was doing well until it was actually a reality. I didn’t give up since I’d previously quit numerous times throughout my life. I finally decided to stop. I decided to try something new for a while to see what worked out. You should too if you want to be successful.

In conclusion

Do you see the most common thread in these five key elements? Continuous learning. Nowadays, new concepts and ideas are being presented to you at a faster rate than you can ever master. Get rid of information. Discover what’s applicable to your objectives. Be a lifetime researcher in the areas mentioned above, and you’ll do well.