7 Responses for Entrepreneurs
7 Responses for Entrepreneurs
NUMBER 1 Have you found a secret that others cannot see?
In fact, this is one of the most important questions in entrepreneurs. At this time, I hope you have already realized that starting a business is the easy part.
For instance, just by looking around you, you can find ways to start a business.
For example, are you drinking your coffee right now? You can start a business by selling cups or contacting coffee producers in Latin-America and distribute them in your community or country.
Furthermore, are you using your phone right now? You can start a business of personalized cell phone cases.
Without a doubt, they are hundreds of business opportunities around you.
However, from those hundreds of opportunities, the challenge is to identify the ones that are worth your time and that they are aligning with you.
Find the Secret
First, the challenge is to know if you have found a secret that others cannot see.
Besides, if you have already started a business that is not really worth your time and does not align with you, that’s fine, you are learning from it. However, get out right now, before you get stuck on the hamster wheel and you start thinking that entrepreneurship is hard for you and quit.
Secondly, if you are just thinking about how to start a business, keep in mind that entrepreneurship is built on secrets. Therefore, ask yourself if you have found that truth that others are not sharing. Because of those truths, you can find big opportunities.
Entering the jungle
And how will you find these secrets?
You don’t know these secrets and no-one will tell you.
Overall, during Bravaura entrepreneurship programs we prepare you to enter the jungle.
In this case, if you have ever been in a jungle, you know there is not a path. Actually, everyone that enters the jungle will need to make their own path. We give you the knife to cut and build your path in the jungle.
However, during your adventure, you will find good and bad things. You can find gold or you can find snakes that want to bite you. All those things that you find during your journey are the ones that build your success path.
In short, don’t just start a business because is a trend to be an entrepreneur. Start a business because you have identified that secret that anyone knows about it.
NUMBER 2 Do you own a small market?
In spike of the famous idiom “You rather be a tail of a lion or a head of a rat”.
Definitely, in business, there is not a lion tail. Furthermore, the only way to succeed in business is to be the owner, the decision-maker, the big boss of a business, even though is small. For that niche, that you think is small and from a forgotten space.
Lululemon Example
For example, I love this story about Lululemon. Especially, back in the ‘80s, where Yoga was not really on- trend and no-one was really doing yoga. At this time, there was this couple that turns their attention to this very small niche that later grew huge. Importantly, they were the owners and they positioned their business in a very small niche. In addition, they lead to the growth of this niche. As a matter of fact, Lululemon is not cheap, and is also not as big as other brands such as Nike or Adidas; however, is the number one. Clearly, there will always be a market for number one.
So, how can you become the number one if you are just starting?
You can become the number one by finding a small niche that you can lead.
NUMBER 3 Do you have a clear sales model?
Undoubtedly, your sales model is the blood of your business.
Just as the graphic above.
On one hand, if you sell products from one to a hundred dollars, you will need to really good at online marketing and creating content for a massive audience.
On the other hand, if your product falls between 10, 000 dollars or millions of dollars, you will need to become an excellent salesperson with extraordinary negotiation skills.
Altogether, the sales model will need to be built based on the kind of business. Likewise, either you are really good at the massive marketing of a really good salesperson. Basically, if you fall in the middle you will find a dead zone.
NUMBER 4 Is this the correct time?
Definitely, businesses have a moment.
On the one hand, when you fall behind, it will be more difficult to sell because there is already a lot of competence. On the other hand, if you fall ahead, it will be difficult to sell because no one will understand.
For example, there was a digital marketing business that opened back in 2009. At that time, this business was talking about how millennials will use the internet for everything online; however, this was not a reality yet. As a matter of fact, it was very difficult to educate about the importance of digital marketing. In the end, the business closed in about a year.
After three years, the same owner decided to re-open the digital marketing agency. This time, the agency became extremely successful.
In contrast, if we open a digital marketing business now, it will be difficult to sell because there is a lot of competence.
To sum up, don’t look into opportunities where there are already leading companies with years of experience. Contrary, look at the exact timing of new opportunities.
7 responses for entrepreneurs
NUMBER 5 Do you have the correct team?
Absolutely, this is the most challenging question. Above all, entrepreneurs will attempt to perform everything by themselves, trying to find 26 to 28 hours in a day.
Additionally, entrepreneurs fall in the error of lack of delegation. Unfortunately, this situation drives entrepreneurs into a situation where there is tiredness, lack of sleep, and anxiety.
As a rule, the day that you realized as an entrepreneur about the importance of a great team, your life will change.
Moreover, when you have a team that shares your core values, your dreams, and your objectives, you will start feeling relief and support.
NUMBER 6 Does your Business have a projection for the next 10 to 20 years?
If you stand aside from your business and you look far away from now to the next 10 to 20 years, how do you see your business?
Do you see your business with a lot of competence in a place where you need to fight every day, or you see your business leading the way?
Importantly, you will need a vision on where are you going, even though while you acquire more experience your vision of the future will change.
NUMBER 7 Would you die proud of yourself?
7 Responses for Entrepreneurs
If tomorrow you will die, would you be proud of yourself? Dedicating your life to what you declared your dream?
At the end of the day, the most valuable item you have is time. If you are dedicating the time to something with no value, then you will never have the energy to push for your dreams.
In summary, find a way to build your legacy.
