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7 Essential Steps From A Lone Entrepreneur to a Successful Entrepreneur We must have heard this many times. It is lonely at the top. It isn't easy to succeed as an entrepreneur. An entrepreneur will have to establish strong business relationships with coworkers, investors, clients, and a myriad of other people. You should observe, listen, network and participate in the business world around you. As you realize, entrepreneurship is not about you alone. It is about making people contribute to your success. That is when you can scale Here are seven essential steps for a lone entrepreneur to run a successful business. Create a network and build it. These are folks at all levels who have been there and done that, which means they know something you don't. You don't need a thousand friends to make a difference, but a few genuine ones can go a long way. So network with people and build a robust support ecosystem. That ecosystem will help you scale fast. Give a lot and then take some. Give and take should be a two-sided one and not just about you. When you actively help people with what you know, they will be far more willing to assist you when you need it. In both physical and figurative terms, the more you give, the more you receive. Make improvements to your elevator pitch. You will be meeting so many people in your life. You have to, in the shortest possible time, convey the essence of your company. Prepare, Rehearse and be Swift in delivering the perfect pitch within a few seconds. You will never know when you will meet your prospects. So always be ready. Don't forget to attend any business social gatherings. Even with the current craze for social media, phone texting, and email, facetime remains crucial. According to studies, body language accounts for 50-90 percent of communication. That is usually the most critical aspect of the connection. Take a mentor. Build a two-way relationship with numerous persons who can assist you, and then ask one or more of them to serve as your mentor. Most entrepreneurs enjoy helping others and will be delighted to assist you. Existing relations should be nurtured. These are people who know and believe in you but who may not be able to assist you in your new activities immediately. But keep in mind that each of these people has a need and has a network. You can leverage that accordingly, and those people networks can become an extension of yours. Maintain existing connections. We've all met someone who claims to be a "close friend" yet never takes the initiative. They never call, never write, and always wait for you to initiate contact. There is no connection, only a former acquaintance if you do not follow up regularly with someone. Conclusion To conclude, it is essential that you network-wide and keep talking to people. It is also vital that you connect with many people, ideate with them, take their inputs, and help them. You will build a good network and a set of people who can help you scale faster.

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As you explore ​​marketing, it's important that you do not lose focus on the value proposition of your solution in your marketing efforts. You need to start marketing your solution before you even build it to validate needs and stay focused on the features customers want and need. There are many ways to connect with other people. Not every type of strategy will work for every business, but these marketing tips can guide you. 1. Identify your USP. The USP is the unique reason customers buy from you, not your competitors - it's what makes your business stand out from the crowd. It's important to define what you did differently and to be able to pass it on to potential customers. This usually reflects your specific knowledge or skills. Your USP may have new or unique offers or exclusive services 2. Know your audience. The first and foremost step in developing a marketing campaign is knowing who your audience is. Not only do you need to know which group your ideal customer belongs to, but you also need to have an idea of ​​the ideal customer's interests and preferences. You also need to find out where your audience is located. For example, on which social media platforms do your audience spend most of their time? 3. Focus on the audience. Now that you know who and where your audience is located, you need to make sure you reach them. Build your campaign according to the interests of your audience. Use the keywords you are looking for. Create a stimuli that describes how your product or service solves audience problems. 4. Collect and publish testimonials. People are more likely to post negative reviews than good reviews. However, if you come across a positive review, make sure to share it with others and post it on another website. When you have positive customer interactions, encourage those customers to write and share great reviews. 5. Select your marketing options While there are many available, you should keep your target audience in mind when deciding which one to use. Options include company websites, social media, blogs, brochures and flyers, online events, print advertising, word of mouth, cold calls, and mailing. 6. Use social media to reach your audience. Social media can be a great way to connect with your audience in a professional but human way. Use social channels your local audience can use to answer customer questions and have conversations with your audience. 7. Hold a contest or promotion. Promotions like contests can be great tools for targeting a local audience. Get creative with the competition and offer the prizes your ideal customer wants. Offer promotions to celebrate events that happen near your locality or occasionally connect with the community. 8. Establish yourself as an authority. Write blog posts on the topics that answer customer questions that relates to the solutions offered by us. Let the experts answer questions on sites like Quora, business.com, and other forums and advice platforms. Conclusion: As the Pareto Principle pinpoints, 80% of your results come from 20% of your efforts. For example, only 20% of your marketing campaign is responsible for 80% of your success, or 20% of your customer base accounts for 80% of your sales. You will have to figure out on which strategy is best for reaching your audience. When you find the 20% who are the most successful, invest most of your efforts in these campaigns and platforms knowing they are the most profitable.

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Every startup need to set up a board at some point in time. The questions in the minds of the startup are as follows: • What stage of my startup should I have a board? • What sort of a board should I have? Why would you need an Advisor board? An entrepreneur normally should select a set of advisors based on the complimentary skills that are needed for the company. For instance, a Finance professional can come on board if the entrepreneur lacks finance talent in the organization. An investor who has seen multiple exits can come on board if the intent of the entrepreneur is to sell the company at some point in time. This gives a well-rounded skill set to the organization based on the complementary skill sets that the board can give. It is tempting to have high profile names on board to attract the attention of the investor. However, it may not be that great when the investors find out that these board members do not contribute anything meaningfully. What types of boards The two types of board are high involvement and low involvement boards. The high involvement boards spend a lot of time with the organization and the low involvement spends time once a while. The high involvement board spends the time in getting into the thick of the action. They take problems and solve those based on their skills. The low involvement boards are involved once a while and they would be involved as a sounding board to take advices that the entrepreneur and team can implement. How to optimize a boards performance and make it work for you Many a times, the board spends time and attempts to understand what is happening in the organization. However, the team feels that this consumes a lot of the executive time. On the other hand, not meeting in constant frequency will not allow the board to give the right kind of advice. So, how to optimize the board and make their contribution effective to the organization. This depends on the kind of the relationship; the entrepreneur has with the board. The entrepreneur can seek their intervention once or twice a month for a few hours. The meetings can happen with these board members in that frequency. The entire board can meet up probably once a quarter. On the other hand, the entrepreneur can keep a few hours extra that can happen on an ad-hoc basis. This is based on emergency issues that need to be closed immediately. As discussed earlier, you will have to be choosy in identifying the right members for your board This will help you to find the right kind of advice that you would need. You will have to invest the time with them to make them understand you. You will need to update them on all the required information about your organization skills, people, practices and areas of improvements. You will have to build a relationship with the members to make your board effective. You can then , based on mutual trust, be able to split the responsibilities between you and can scale the startup.

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