Advice and tips for first-time entrepreneurs
Here are my top lessons for all entrepreneurs … the ones I wished I knew when I started:
Learned this one quite early in my management career. Your people are your business. No question about that. And your business will only go as far as your people will take it. So put them first on your list and take good care in their welfare.
Be the best talent hound you can be in searching for the best employees. Know this … surrounding yourself with the very best is the top and quickest way to success.
There is a tremendous amount of competition in any market that you chose. And it is continually growing. Your success depends on your business being better than the competition. Knowing what those advantages are and putting them into value propositions is what will put and keep you ahead.
Know this simple fact about marketing. Everything is marketing and everyone is a marketer. It takes a while to really appreciate this lesson’s true meaning. Stick with it long enough and you will understand.
Your customer’s experiences in your shop are the new marketing, pure and simple. The better the experiences, the more the customers will remember you and return. Work hard at creating WOW experiences as much as possible.
Be a change agent in everything business. Anticipate and embrace change in your market. Adapt is the name of the game, as soon as possible. This is a hard lesson to learn as often change is required while things are still looking good.
Now more than ever, things are changing at blazing speed. There is only two ways to keep up. They are continuous learning and applying what you learn.
Keep everything you do as simple as possible. No exceptions.
The last and most important lesson. Know, understand, and care about your customer. Your rule 1.