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Building a successful company

Building a successful company

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Ozioma Ubabukoh

Competing in business today is much different than it was 10 or 15 years ago. As an entrepreneur, you are faced with many challenges and obstacles, including technology to overcome, e-commerce to understand, and new and innovative ways to reach customers, all of which is evolving on a daily basis.

So how does an entrepreneur stay focused and on top of the trends of the moment so that he/she can be successful? One way is to create safe work environments, so that staff feel comfortable creating and innovating. Another is to focus work on core services, avoiding spreading effort too thin to generate good returns.

These are not the only ways. To help build success in today’s business world, seven members of Young Entrepreneur Council share the most important thing that entrepreneurs need to be doing differently today in order to improve your growth. Here is what they had to say:

Be a storyteller

Today, entrepreneurs need to understand how to position their product among the sea of near-analogous competition. If in today’s world, truly genuine ideas are rare, then “to succeed,” means more than simple differentiation. It means being able to connect. Every entrepreneur has to be a storyteller whose product “sells” by virtue of his or her execution. – Mario Danek, Aegis Biomechanics.

 Create a safe work environment

Entrepreneurs need to be more open and realistic with the mental health of themselves and their team members. Conforming to burnout and mental illness is a reality that needs to be addressed from the top. By being more open with how we feel and how we cope, we can create safer work environments and stronger, closer teams. – Alexander Mistakidis, Gamelynx, Inc.

 Develop strong client communication

Some of the most important things that entrepreneurs need to be doing are developing strong communication with clients, streamlining processes and creating efficiencies, and having the right systems in place to scale and properly grow their business. – Sarah Yeverovich, Empowered Staffing.

 Be two steps ahead

Avoid “best practices” when possible. The game is constantly evolving, and by the time people have developed and begun preaching a set of best practices for marketing, UX, etc., you’re looking at incremental improvement at best — the smart entrepreneurs are already two steps ahead. – Dan Suski, Credit Card Rewards

Associate with people who think differently

Entrepreneurs today need to think and act differently. Association is critical to one’s success. If you are associating with a bunch of people who aren’t able to think outside the box, work long hours or take risks, chances are you won’t either. Get yourself in a group of people who think and act differently, and you will thrive to your fullest potential. – Mike Podesto, Find My Profession, Inc

 Focus on your core services first

Know what problem your business, product or service solves and to whom you are selling, and then perfect that message. In founders’ haste to bring on customers and gain early traction, too often they diversify early and try to build something for everyone. Stick to your core benefits and customer targets before trying to please a disparate group with an inferior product. – Lindsey Groepper, BLASTmedia

 Stop waiting for ‘your turn’

Entrepreneurs today need to immediately bring their individuality and ideas forward, and not wait for “their turn.” The old way was: read, analyse and process more data than everyone else and be “the best” at the table. The new way is: Be your best. – Robert Choi, RJC & Company Transformation Engineers

Additional Info: Forbes

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