10 Strategic Tips for Starting a Business

1) Entrepreneurship I

s Like Farming

Farmers need to plant many seeds, nurture their plants, and practice patience before they can eat. Similarly, entrepreneurs must seek out several opportunities, nurture relationships, and practice patience before seeing a return on investment. Not every opportunity will pan out, just like not all crops will produce, but that’s okay. In either case, we can overcome a few failures through diversification, consistent work, and a positive attitude.

2) Research and Preparation

It’s important to study the battlefield before you attack. It’s much easier to ride the momentum from earlier accomplishments than recover from a mistake. Study your product, your competition, and customers before making your approach.

3) Market Smarter, Not Harder

Segment your target audiences - Identify your ideal customers and spend your resources pursuing them first.

Create big rock marketing content - The world is full of people fighting for attention. Breakthrough by creating big rock marketing content like blogs or podcasts. Then create several smaller bite-sized pieces for distribution.

Create an emotional appeal - People pay more attention to what they see, and less to what they hear. Create content that appeals to people’s senses and tugs on their emotions.

4) Pursue Strategic Partnerships And Distribution Channels

Little can be accomplished by one man, so build your reach. Find industry events and opportunities to network. Collaborate with influencers and organizations that already have a following. Contribute to online communities and hashtags. All of this will build your audience and grow your channels.

5) Give Before You Take

Direct asks can be seen as aggressive and generate resistance from your target audience. Breakthrough to your audience by giving something before you take something. It could be a free sample, advice, or a solution to a problem they are facing in their own lives. Lure people in with free gifts to win their attention and respect, before trying to suggest, or influence their actions later on.

6) Spoil Early Adopters

Early adopters have a great influence on your business. Spoil them. Give them extra attention, learn their stories, and support their goals whenever possible. Satisfied customers will return the favor 10 fold through testimonials, repeat business, and referrals.

7) Prioritize News Outlets Over Traditional Ads

Everyone knows advertisements are designed to be manipulative. The news is more trustworthy and influential. Look for opportunities to host events or orchestrate publicity stunts that will attract media coverage and journalists. Their stories will have a tremendous influence on your marketing reach.

8) Pay Attention To Current Events

Keep a pulse on what’s happening in the world. When everyone is excited about something, ride the wave and contribute to the hype, even if this means promoting another event. This strategy is called borrowed interest. Done correctly, this type of content is most likely to go viral.

9) Invest In The Future

Famous words by Grant Cardone, “Cash is trash.” Capital is only useful when it is reinvested. Find ways to invest in your business or the businesses that support you. After all, monetization is most effective after you’ve secured a large, loyal customer base.

10) Never Settle

The market is always changing. If you fail to adapt to the times, you’ll get left behind. Therefore, it’s important to take breaks. Continue to study your clients while at work, but also, be sure to disconnect occasionally to allow your mind to wander, explore new experiences, and discover new trends that you can bring to the office.