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10 Important Lessons for Entrepreneurs
1.
2. “Entrepreneurs do not work in an emergency room.
Everything does not have to be or feel like an
emergency.”
-Ashley Kingsley
1
Slow
Down
Lesson
Do not rush. Certainly there is point at which you have to take a leap
of faith, but it’s important to not rush the process when starting a
business.
Approach all decisions with an open mind. Some decisions may
lead to adjustments in your strategy that could lengthen the timeline for
your new business. Be patient when challenges are presented and
timelines extended.
Trust your gut. It is easier to make an adjustment prior to a business
going live, rather than to adjust a product or service that is already on
the market.
3. “Everyone is deserving of your time and attention. There
is no customer (or person for that matter) that is
insignificant.”
-Nick Eubanks
2
Customer
Centric
Lesson
Fully understand your customer experience. Whether a product or
service, the customer experience must be understood clearly and
presented/offered in a way that promotes customer loyalty.
Develop a superior customer support model. A support model is key to
building a solid customer base. A strong support model will be thought
through so, when it is needed, the experience for the customer is
exceptional.
Customer feedback is the best feedback. Whether good or bad,
customer feedback provides a holistic view of how a product or service is
perceived in the market. Provide multiple avenues for customers to share
their feedback and experience.
4. “Being an entrepreneur is hard work. Nothing in the world
is worth having or worth doing unless it means effort,
pain, difficulty.”
-Rick Marini
3
Hard
Work
Lesson
Accept the challenge. Starting a business is not easy and running a
business is even harder. The tradeoff is the freedom of controlling your
own destiny. If you can’t give 110%, entrepreneurship is not right for
you.
It is a journey. Build on and learn from the challenges, difficulties and
roadblocks that are presented along the way. What you will learn
creates the best path to success.
Have fun. It is important to enjoy the process. Yes, starting a business
is hard work, but a healthy balance of work and play are what keep you
putting forth the effort needed to be successful.
5. “Figure out what your superpower is. Then identify what
other superpowers you need for your business to be
successful. Build your team around it.”
-Cheryl Yeoh
4
Strength
Finder
Lesson
Identify your strengths. You cannot have a successful business wearing
all the hats. Based on your type of business, identify your strengths, then
partner with others to create a winning team.
Do not be afraid to ask for help. No matter what strengths you possess
or what strengths your team possesses, there are always challenges
presented along the way. All decisions when starting a business are
important. If you do not know something, it is better to ask others that
have been there before.
Never stop expanding your knowledge. You can never be an expert in
everything, but you can posses a better understanding of areas you’re not
strong in. It can only help you along the way.
6. “All lasting business is built on friendship”
-Alfred A. Montapert
5
Make
Friends
Lesson
Quality, not quantity. Making business connections is not a contest to
see who can get the most. Build relationships that have meaning. Help
others and you will get help in return.
Never eat lunch alone. You have to eat lunch everyday, so why not use
the time as an opportunity to expand relationships and discuss ideas.
Build a solid network of entrepreneurs. Sites like LinkedIn, Facebook
and Google+ make it easy for connecting with other like-minded
individuals. Connect with them and lean on them along the way.
7. “Simple can be harder than complex: You have to work
hard to get your thinking clean to make it simple. But it’s
worth it in the end because once you get there, you can
move mountains.”
-Steve Jobs
6
Think
Simple
Lesson
Don’t overthink it. Keep your idea simple and straightforward. To many
bells and whistles confuse customers. Start simple and evolve over time.
Customers hate clutter. Keep the content about your business product or
service simple and easy to understand.
8. “Confidence is contagious. So is lack of confidence.
-Vince Lombardi
7
Confidence
Matters
Lesson
Delivery reveals the truth. When you are communicating about your
business, it’s important to write or speak in a way that exudes confidence.
Practice and know your facts.
Be a leader. Leaders are decisive about making decisions. That doesn’t
mean the decision is always right, but it does mean you took control and
showed you’re not afraid of failing. Others will take notice.
9. “We don’t have a choice on whether we do social media,
the question is how well we do it.”
-Erik Qualman
8
Social
Media
Lesson
Use it, it’s free. Why would you not want to take advantage of an
opportunity to connect with your customers and potential customers?
Market your brand and build a loyal customer following.
Presentation is key. The way in which you frame your business is
extremely important. How do you want to be perceived by visitors.? What
does your site say about your brand? Does your site look professional?
Take your time and build solid profiles to represent your business.
Content should be helpful and engaging. The content you post should
be interesting and engage your reader. Topics should lead readers back to
your overall business offering. To ensure your content is doing what it is
supposed to do, review analytics regularly and make adjustments where
needed.
10. “Always do right - this will gratify some and astonish the
rest.“
-Mark Twain
9
Lesson
Be
Accountable
Admit a mistake. Everyone makes them, but not everyone admits them.
If you make a mistake, raise your hand, take ownership and overcome the
mistake. You will gain great respect accepting responsibility.
Lead by example. Don’t get upset when others show up late for meetings
if you’re doing it also. Set the tone with those around you. Others will
follow.
Build trust. If you say you’re going to do something, then do it. If you say
you’re going to return calls and emails, then return those calls and emails.
If you accept a meeting invite, attend the meeting. Don’t make excuses –
do what you say you will do.
11. “If you want to lift yourself up, lift up someone else.”
-Booker T. Washington
10
Give
Back
Lesson
Help other entrepreneurs. Share your experiences with other
entrepreneurs. They may learn valuable lessons and it feels good to see
others succeed.
Volunteer for a good cause. Seek out volunteer opportunities. Not only
are you making the community a better place, you’re marketing your brand
and name.
Become a member of a local board. Sitting beside leaders in the
community who are providing feedback, will help you gain ideas to improve
your product or service. Again, a great opportunity to market your brand
and name while giving back to society.
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