As a small business owner, you are always seeking tried-and-tested strategies to grow your business and take it to the next level. If you are in the retail industry, you may be exploring how to leverage social media to reach new customers and drive sales. Or, if you happen to be in the gambling industry, you may be wondering how can Bitcoin change gambling and what opportunities this new technology presents.
Regardless of your industry, there are core strategies that help thousands. One proven business approach is to seek advice from successful entrepreneurs who have already navigated the challenges of growing a small business. Here are some tips from successful entrepreneurs on how to grow your small business:
1. Tony Robbins
Tony Robbins, an entrepreneur, philanthropist, and best-selling book, has advised world leaders for 38 years. Leadership psychology, negotiating, and organizational turnaround are his specialties as the nation’s top life and business strategist. Tony’s five books include “MONEY: Master the Game”, a New York Times #1 bestseller. He has reached over 50 million people from 100 countries with his audio, video, and life training programs.
Tony thinks a good company plan or idea isn’t enough to succeed in entrepreneurship. According to him, “The most painful error I see in first-time entrepreneurs is assuming that just having a business plan or a wonderful concept is enough to assure success.” Not. 20% mechanics, 80% psychology. And, frankly, most people’s mentality is not intended for running a business.”
He also tells budding entrepreneurs to be honest about who they are, what they desire, and what attitude they need to succeed. He compared being an entrepreneur to training for a marathon. You must train for a marathon. To successfully establish a firm, entrepreneurs must expand their capability and become emotionally and psychologically fit.
In conclusion, Tony Robbins advises budding entrepreneurs to work on their psychological fitness and be honest about their personalities and thinking. Millions are inspired by his economic and entrepreneurial success.
2. Guy Kawasaki
Guy Kawasaki is a respected entrepreneur and Canva’s Chief Evangelist. He wrote thirteen books, including Art of the Start, which entrepreneurs worldwide praise as a weapon of mass production.
Guy recommends businesses prioritize their prototype over their pitch deck, company plan, and financial projections.
“Focus on the prototype,” he advises. “If you release a prototype and enough people use it, you never need a business plan, forecast, or anything else. Prototypes differentiate nonsense from reality.”
Your prototype proves your notion. It’s the only way to prove your business idea’s viability. With a working prototype, you may get feedback to improve your idea.
Guy’s business advice boils down to confirming your idea and making something people want to use. By investing in your prototype, you can test your idea in the real world and make any necessary changes before investing in other parts of your business. As an ambitious entrepreneur, follow Guy’s advice and prioritize your prototype.
3. Sophia Amoruso
Sophia Amoruso is best known as the founder of Nasty Gal, a multi-million dollar online vintage clothing store. Amoruso founded the brand in 2006, first selling antique clothing on eBay and then creating the Nasty Gal website in 2008.
Amoruso’s narrative of founding Nasty Gal with minimal money and building it into a profitable business has made her a well-known personality in the fashion and technology worlds. She has appeared in several media venues and written multiple books, including the New York Times bestseller “#GIRLBOSS,” which details her entrepreneurial path.
Sophia Amoruso’s statements and business tips demonstrate her tenacity as an entrepreneur. Her quote, “Don’t give up, don’t take anything personally, and don’t take no for an answer,” emphasizes the importance of persistence in the face of denial and downfalls. It urges entrepreneurs to stay focused on their goals and not be discouraged by challenges.
This advice is especially important for people establishing a business or exploring a new venture, as setbacks and bad criticism can be discouraging. “The ones who told me no were the people who eventually told me yes,” which highlights the value of endurance and fortitude in the face of rejection. It serves as a reminder that refusal is not always the final word and that it can frequently lead to unexpected opportunities.
4. Noah Kagan
Noah is the Chief Sumo at AppSumo, a community that helps businesses find and use the greatest products, blogging tools, and even writing books to help their businesses thrive. He also runs Sumo, a sophisticated suite of web traffic tools, and was employee #30 at Facebook before being let go and becoming an early director of marketing at Mint. Here is some of his business advice for new entrepreneurs:
“Don’t waste time or spend money on non-core issues when starting a business. Don’t spend any money until you’ve earned some.”
Many businessmen make the mistake of investing in non-core concerns such as expensive office space or fancy equipment before they have even begun to generate revenue. In the early phases of a firm, it is critical to be frugal and resourceful. Instead of focusing on flashy and costly initiatives, owners should prioritize income generation and the establishment of a stable basis for their company.
The Bottom Line
This post presents successful entrepreneurs’ ideas and tips on how to grow a small firm. Anthony Robbins emphasizes the value of psychological fitness as well as honesty about one’s personality and thoughts. Entrepreneurs should prioritize their prototypes over their pitch deck and financial estimates, according to Guy Kawasaki. Sophia Amoruso highlights the importance of perseverance in the face of denial and setbacks, pushing businessmen to remain focused on their objectives. Noah Kagan urges small business owners to prioritize income production and a robust corporate foundation above non-core issues.
These prosperous entrepreneurs provide essential tips and insights to small business owners trying to expand and flourish.