The Psychology Of Small Business Success Summary

[Juan Cruz Giusto]

Real entrepreneurship is creating something from scratch. Business is psychologically very tricky and counterintuitive.

5 Errors

1-      You are not practical enough about the marketplace reality: When you come up with a business idea you don’t have your feet on earth. You need to be more practical and less attached to your dreams. You need to pay more attention to sales and marketing. THE HARDEST PART OF BUSINESS IS NOT CREATING YOUR DREAM PRODUCT, IS MARKETING IT. The hard part of business is getting eyeballs.            

You need to have a strategy about how you are gonna reach your customers (Go to market). You also need a strategy about how to maintain and acquire the customers and you have to think a lot about it and test it! You need to study your cashflow! TEST YOUR BUSINESS MODEL EARLY.

 

2-      You are not experimental enough: You need to be creative and highly clever (strategic creativity). You will need to try dozens of solutions until you get one that will work. You need to be more flexible and more adaptable than your problems. You need to find your unique strength that will help you leverage your business! Which is your key differentiator?

 

3-      Not taking enough action: You need to work towards the idea, you need to move your ass! You need a rapid speed of implementation! You need to be testing your business model every single day!

 

4-      Lack of self-governance: You need to be capable of motivating yourself in the long term. You need to work consistently.

A good product is not enough; you need an awesome product! You need to realize that some products are not marketable.

 

5-      Getting lost in materialism and success: You need to be running your business with consciousness and awareness. You need to do business without losing your soul (a responsible business, a visionary business, a leader business, a business that shows the world what is possible, a business that takes the process and refines it, a conscious business). The secret is TO REALLY BELIEVE IN YOUR CAUSE. The purpose of business is not to make money, is to promote a cause, to raise awareness in the world. The businesses that are going to survive in the long term are the conscious businesses.

The joy you get from a money making low conscious business is pale in comparison to the joy you will get with a business that really generates an impact. The world can change its destiny depending on which business you decide to start!

 

You need to balance success and awareness!

 

Understand that business is a jungle and you have to be tough. If you want to achieve your dreams, you need to be strategic and practical.

 

Action Steps

1-      Do tons of research and become a master of your marketplace. Learn everything you need to know about your customers.

2-      Test out any idea that you have in some form. Create a prototype and test your ideas. Be open to any path that the idea can take.

3-      Look for things that have practical value for people. Look for the actual problems that people have in their lives. YOU SHOULD BE HAVING THOUSANDS OF IDEAS!

4-      Prove at least 1 marketing strategy.

5-      Prove your cashflow and generate a SALE!

6-      Work on cultivating self-governance.

TO CREATE A GREAT BUSINESS, YO

[Time Traveler]

(Posted my quetion as separate topic)

Edited July 14, 2016 by Time Traveler
(Posted as separate topic)

[ericafis]

The only recipe I know towards success is perseverance. There's a lot of challenges ahead so you better armed yourself with the right strategies up front. No matter how hard it is, with determination you can always get through.  

Erica | Ivertise.com