Launching or Growing New Business, Products, and Services
Ideas
Know your Why
The only thing that can be certain about entrepreneurship is why you’re taking the journey to begin with. So make sure it’s clear. Know your “why,” and then love it and embrace it. Wake up every morning repeating it. -Danae Ringelmann
Weigh the Risks
Write down everything, what can go wrong, weigh the risks, accept them, and start enjoying uncertainties as a chess game. -Renata George
Creativity & Data
Blend creativity and analytics. Data is incredibly powerful. But creativity can be equally powerful. Think of ways to delight your users. Bring magic to their lives -Nicole Shariat Farb
Culture and Execution
Focus on culture and execution. It’s critical in a startup to build a strong culture right from the start that is oriented towards performance —Rudina Seseri
Test & Critique
Knowing how to take criticism is vital for Musk. “Take as much feedback from as many people as you can about whatever idea you have…seek critical feedback -Elon Musk
First-hand Knowledge
Learn first-hand from various viewpoints of your industry, and find a unique way to do something better. -Steve Ells
Plan for the long road
There needs to be a good strategy, a roadmap, adjusting the course with seven to ten corrections at different stages of the journey. -Ron Bodkin
Focus on the Customer
best salesman is our customer. Treat that person right, he’ll walk out the door and sell for you -Jerry Murrell
Build the right Team
You don’t have to have all the answers. Seek out people with expertise where your skills may be lacking. Use their knowledge to assist you in achieving your goals. Creating synergies of purpose can create extraordinary results. –Michele Torres
The Daily Grind – Hustle
Get really good at time management. There are always more things on your to-do list than time or people to finish them. As a result, every day you are faced with the challenge in deciding what not to do. You have to evaluate what activities are really going to make an impact on your business and focus your time accordingly. –Kwany Lui
Resources
Concept – Proof – Build
Market Research
Whether you are starting a new business or launching a new product or service, market research is essential.
Offline Tools: Chamber of Commerce, Local Library, City & State Research, Focus Group, Networking Groups, etc.
Online Tools: Social Media, Polls – Wufoo MarketResearch.com, USA.Gov, BizMiners.com
Target Research
Understanding your target market is more than just watching who likes your posts on social media. Go where they know industries and consumers.
Online Tools: Think With Google: Marketer’s Almanac, Nielsen MyBestSegments, Pew Research Center, FedStats
Business Plan
I don’t need to tell you why you need a business plan, you know better.
Offline Tools: SBA, Chamber of Commerce, SCORE.
Online Tools: 7 Insanely Creative Business Plans
Pitch Deck
Every business needs money. You may go to a bank or an investor, pitch decks will help you visually and quickly quantify and qualify your plan
Online Tools: 15 Best Pitch Decks
Sources: (Inc.), (Entrepreneur.com), (VisionCritical), (Growth Marketing Conference), (The Lean Startup), (Entrepreneur.com)
