Modern business changes at a rapid pace. Developing technologies offer new ways to handle old problems, as well as chances for up-and-comers to stake out key positions in their markets.
While the opportunities created by tech changes are important, how brands handle business is even more so. Even with the best tools available, if a company focuses on the wrong approach, it may find itself treading water while seeking gains, if not outright drowning in losses. Below, members of Young Entrepreneur Council talk about what they say entrepreneurs need to focus on in order to find success in the modern business world. Here’s what they advise:
Leading entrepreneurs share how to find success in the modern business world.
1. Think About The Steps Necessary To Accomplish Your Goals
Simplify. Most entrepreneurs are dreamers: We’re focused on big ideas and see opportunity everywhere. Don’t just think a step ahead — think about the step before. Map out the process, not just what your final business plan looks like. Think about the steps necessary to accomplish your goals. Keep each process simple and expand as you are ready to take on the next step. — Matthew Nederlanden, Security Camera Warehouse
2. Learn and adapt quickly.
It’s easier than ever to adjust to changes, and they are happening faster than ever. The speed at which the world moves today is an opportunity. — Dave Blakey, Snapt, Inc.
3. Make Sure Your Business Has A Predefined Purpose
If you really want to be successful in the business world, then your business needs to have a higher purpose and mission. Businesses shouldn’t be done to create companies, they should have a predefined and well-established purpose and should be able to establish a connection with people. — Neelesh Jain, Hvantage Technologies Inc
4. Keep Your Foot On The Pedal
I have seen a lot of friends who are building businesses fall for the “4-Hour Workweek” concept. It’s interesting, but entrepreneurs too often fast forward their actions to that sort of the desired outcome. When building a business, you have to keep your foot on the pedal and not let off in achieving a product vision. Once you let it go, someone else will find a way to work harder and smarter than you. – Stephen Hetzel, BidPrime, LLC
5. Focus On What’s Essential
More than ever, entrepreneurs need to practice the art of essentialism. There are many things you can be doing to build your brand, attract customers or investors, or build your product. There are more opportunities for networking than ever before. Evaluate your availability and what is essential to your business and personal life, execute the critical, and unapologetically shed everything else. — Ben Larson, Gateway
6. Have A Digital Presence
As the founder of a digital marketing company, I think it’s important to focus on your company’s digital presence. Especially if you are an older company, newer customers and buyers often aren’t aware of you. Digital is a tremendous way to make an immediate impact, as well as touch the current and next generation of consumers. — Alex Wolk, INSITE ADVICE
7. Always Create Measurable Value
Always create measurable value. Whether it’s revenue, profit, users or page views, having numbers to support your success creates tangibility. – Carlos Kronen, The Bartender Company
8. Remember: You’re Not Perfect
Accept that you are not — and will never be — perfect. Learn from your mistakes and failures, and always have a positive attitude. — Jeff Cherkassky, Box Boulevard, Inc.
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