As an entrepreneur, you’ll often head into uncharted territory. That is after all what keeps you going, making something from nothing, and the unknown.
You will without a doubt learn many things along the way and make some mistakes. But what if you didn’t have to make some of those mistakes? You’d save yourself time, money, and stress, so that you can focus on the importance of growing your business.
That’s why I wrote this post. Today, we’ll take a look at some common things all entrepreneurs learn the hard way.
You Don’t Need to Spend a Lot of Money
Time and time again I see entrepreneurs looking to invest their life savings into starting a business. While that may seem like the right thing to do. It’s not entirely necessary.
How can you justify spending thousands of dollars to start a business when you don’t even know if there’s a market for what you’re selling? You may be gambling your money away. I’m not saying don’t take a risk, no. I’m saying only take a risk if you have to. And, a calculated risk at that.
Here’s what I suggest—spend a few hundred dollars to get started. Maybe even less.
You really don’t need thousands of dollars to determine whether or not your product will actually sell. Try setting up a simple landing page to see if you can capture anyone’s interest.
You can get started with a landing page on Spaces and start accepting payments instantly. Setup a landing page that showcases your product even if it’s just a prototype and see if there’s any interest. Total cost for setting up a landing page with Spaces? Zero.
If you get traffic but nothing converts, keep working on your marketing tactics to ensure you’re marketing to the appropriate demographic. If you get traffic and capture a few emails, then you’re on the right track.
If you are able to get a sale from that landing page then it’s game on. Now is the time you should consider investing more than a few hundred dollars into your business. It’s better to play it safe than to be thousands of dollars in the hole, especially if you’re trying to do this all by yourself.
You Are Your Biggest Competitor
There’s nothing better than spending an afternoon on the couch watching Netflix. I’ll be first to admit that.
But every time you hit “continue watching” after blazing through a few episodes of your new favourite show, you’re just spending valuable time. You’re letting your competition (laziness) beat you. Which, as a result means others who aren’t being lazy are making strides towards their goals.
I’m not saying don’t watch Netflix or television. In fact, I highly recommend it as a way to unwind after a day’s work.
But consider it a form of delayed gratification, a productivity strategy that some highly successful people implement into their daily routine. Reward yourself with an episode of your favourite show only after you get work done.
The buying process has changed
It’s digital, mobile, and heavily influenced by social. 78% of sales professionals using social networks to sell outperform their peers, but what most people don’t understand about social selling is that it’s just old school research, networking and relationship building, and leveraging new channels like LinkedIn, Twitter, and Google+. The modern sales professional needs to leverage social networks to be where his or her buyers are online, offline, and all the time.