Entrepreneurs must love growth and development – you can always learn from someone who is more successful than yourself, or has experienced more ups and downs.
As entrepreneurs, we are definitely not short of ambition and drive. Time on the other hand, well, let’s keep this short. Time is precious and one of the reason’s we might overlook some really important advice, advice that may mean the difference between having a great idea and turning it into a booming business.
Here are the most useful pieces of advice that have helped me.
1. Surround yourself with successful people you trust
Whether you set up an advisory board or get a mentor (I highly advise both), you can always learn from someone who is more successful than yourself, or has experienced more ups and downs. There is a long list of what will make these successful relationships that you both benefit from, and one is having common core values and goals, as well as industry understanding and great business ethics.
2. Know your numbers
Knowing your money on hand, outgoings and costs is vital. If you take your eye off these for even just a few weeks, things can get away from you. Monitoring and understanding how much a day of business costs makes you look at new business and expenses in a whole new light.
3. Build and nurture your profile
As an entrepreneur our own brand is inextricably linked to the brand of our business, so it’s worthwhile to spend time on your personal profile. Use social media to share your thought leadership and even talk about yourself. However, do it with humility and consider how people will perceive your posts or profile building activity – no one likes a show-off.
4. Travel
Learn, meet people, understand them and the culture. It helps with growing your business, understanding your team and networking. Also, know yourself and your exhaustion point. Booking time off just before your breaking point can save your wellbeing and your productivity in the long run.
5. Don’t email, communicate
This is part of our vision at Pulse Collective and it means we get everything done quicker, with a clearer understanding, and any difficult conversations are had before they become big problems. We don’t ass cover, we’re in it together.
6. Find and understand your target market
An idea doesn’t turn into a business until you find your first customer and that means finding your target market and having the correct messaging for your services or products. And getting advice on not only how to make that first sale but to convert it into repeat business is paramount. Working with experts in this field, who specialise in entrepreneurial business, can help find the edge you need to cut through and make an impact.
Lauren Fried, www.laurenfried.com, Founder/Managing Director, Pulse Collective and Co-Founder, Advisory Board Institute
