The reading level for this article is All Levels
Tenacity is the only way you win in business. Without a laser focus and tremendous discipline, you risk complacency. Once youï¿½ï¿½ï¿½â€žï¿½re complacent, the employees get complacent and you pave the way for someone who is not.â€
What is the secret to entering a new service based industry that seems so unsexy and unprofitable to most?
Here are 4:
– If youï¿½ï¿½ï¿½â€žï¿½re going to start a business, donï¿½ï¿½ï¿½â€žï¿½t pick an industry such as finance. Pick from the unsexy, ignored industries and compete there. The mistake that many small business start-ups make is that they walk into an industry that is so diluted and so competitive that no potential clients take them seriously.
The trick is to find those industries that nobody seems to care too much about and pick a niche within that industry, put your head down and head for the goal line. When I was in college, I had no idea that the staffing industry even existed. That is, until I got placed in a job that I hated by one.
– Donï¿½ï¿½ï¿½â€žï¿½t be another pizza or sushi joint, aim to reinvent the wheel. Nearly all pizza and sushi restaurants look exactly the same. Very few have the guts to do something different, something fun and something unique.
People open up restaurants and other businesses that are ï¿½ï¿½ï¿½”industry standardâ€ probably every 2 minutes in this country. In the end, they donï¿½ï¿½ï¿½â€žï¿½t want to stand out and potentially fail. Unfortunately, that is what happens to most of them.
Though, standing out works. Look at Abercrombie. Nobody has done what they have done on the level they have. They are killing it because they were willing to take a risk, stand out and tell the crowd that theyï¿½ï¿½ï¿½â€žï¿½re no longer buying the ï¿½ï¿½ï¿½”Industry standard,â€ instead they making it.
Businesses must not emulate the competition. They must loathe and exploit them. A first step to reinventing the wheel is to formulate a website that gives the visitor an experience that the other companies in the space do not. Use what you have and be creative. Get complacent about a website and you might as well send out your resume.
– Get in the habit of executing. What makes people successful is the ability to envision and, ultimately see through on projects. Entrepreneurship is hard. It took me a long time and a lot of work to get where I am and, over the years, I have noticed that I have gained the habit of getting projects done.
Everyday, the small business owner should write down a list of things that he or she wants to get done that day. Unless there is a rational reason, that list should have a bunch of checkmarks by the dayï¿½ï¿½ï¿½â€žï¿½s close.
The ï¿½ï¿½ï¿½”Iï¿½ï¿½ï¿½â€žï¿½ll do it tomorrowâ€ attitude no longer works. Itï¿½ï¿½ï¿½â€žï¿½s no longer 1998, Silicon Valley. Get your stuff done or the kids are going to public school.