A 360° Approach to business - what every entrepreneur should know in 2019

ConservGeo, Ikehlowa Sanni, Project Finance, Renewable Energy

EMPOWERING THE ENTREPRENEUR IN 2019

We all know that starting a business is not as easy at it looks or sounds.There are multiple components to company formation that will make or break a business within years of it launching. Statistics show that over half of small businesses that launch today, fail often within their first few years of going live. However, this fail rate should not be demonstrative of why you shouldn’t go into business for yourself if you have a great idea. In fact, the picture this paints is much more pointed in that a successful business requires a 360° approach as you form your company and position it for success. This means experience is key, knowledge is power, and what you don’t know may kill your business before you even get started.


Experience matters…


Experience is important because you not only learn what to do, but most importantly what not to do. The latter becomes an impossible approach as you form your business model if you have never in fact been in business. So how do you address this gap? My number one advice to entrepreneurs that want to get into business for themselves is to spend a year or two in sales knocking on doors, grinding the pavement, & hearing no more than yes. The experience you gain is invaluable and here is where you will sharpen your grit and understand the grind of entrepreneurialism and why it is the road less traveled. Another benefit that often goes unnoticed is the time you get to spend with other entrepreneurs. As you sit in their offices understanding their business needs and approach to business, this time is optimal for you to learn what does and doesn't work. Ask questions, dive deeper into why they became an entrepreneur, and understand what they have learned from their experiences. Then, you can begin to leverage and reference their experiences as you begin to formulate your business plan and transition experiences into knowledge.


Knowledge is power and also very valuable...


As you transition into an entrepreneur what you know becomes very powerful and when leveraged in business properly, valuable. As an entrepreneur, it’s not enough to only have a viable product. It is not enough to have a great company name. It’s not enough to have employees. If you have a viable product, you must have the knowledge and acumen to distribute that product to the masses, value. If you have a great company name, you must have the knowledge and acumen needed to protect your brand as you build it, value. If you have employees, you must have the knowledge and acumen it takes to be a great leader to empower your employees to see the value they possess and bring to the success of your business and company mission, value. Yes, value. Value is what differentiates you from the competition. Value is what defines your brand and makes you unique, and when value exists in business, this approach generates revenue. Now to what you do not know.


What you do not know is equally as powerful and not in a good way…

We understand that knowledge in business creates value and ultimately leads to revenue. But what about the things we do not know, the experiences we have not had? How do we bridge the knowledge gap in business and what happens if we fail to keep learning as entrepreneurs? First, let me address the latter. If you fail to keep learning in business and appreciate change and agility, your business will simply not grow. It’s the difference between meeting annual targets and exceeding them. It’s the difference between having regional presence vs international presence. Continuous learning and change in business demonstrates that you as an entrepreneur have matured and understand that a successful business is a direct result of your ability to see big picture, the entire picture.  It is the ability to have a 360° approach to every facet of the business. It is the understanding that every facet of your business has an opportunity to perform better.

So, let’s bridge the gap. The answer is not complicated at all and is as simple as asking the question… “Is there a better way to do this?” If you ask that question and truly seek out the answer, you will find that the answer more so than not is, yes. This type of knowledge seeking, makes your business agile, equipped to accommodate change, and gives you the ability to not only improve the customer experience, but make a human connection with your client base. What is human connection? Subscribe today and stay tuned as my wife and ConservGeo CEO, Christine Sanni , shares why improving the customer experience isn’t enough.
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