The Foundations of An Entrepreneurial Company That Works
Upon meeting some individuals who come to my firm to either interview for a position or to interview us as a recruiting firm, I am asked about my background. That is fine, but the question typically translates into how I successfully started my company.
The formula for starting a business that works is quite simple on paper, yet very hard and sometimes tiresome and requiring of luck to execute.
To start and run a successful company, the business owner must have a few things in place, none of which come easily, but all of which become easier with hard work, dedication and passion.
Employees – Good employees are very hard to find. By “very hard” I mean there is a whole industry dedicated to doing so, I happen to be in that industry, and they’re still hard for me to find. Companies can go through a multitude of employees, however when the entrepreneur finds those good employees who are not only loyal, but who do their jobs skillfully and are pleasant to be around, it makes the searching hours all worthwhile.
Marketing – The web can make or break a company. Startups need to get their foot in the door when competing with companies that have been dominant their industry space for years. This is quite hard, but it can be accomplished in a few ways. The most cost-effective is search engine optimization, which is a key component of any company that can make money through potential customers finding them on the web.
While many think search engine optimization is a very complex proposition, it is simplest when the entrepreneur begins writing and having their professional articles syndicated on the web. If there is one piece of advice I have for the aspiring entrepreneur, it is to learn online marketing and learn it well.
Sales – To get to the next level, the entrepreneur must have a firm understanding of what makes their potential clients tick and what type of contracts and/or negotiation techniques are conducive to winning business in their particular sector. The only way to reliably gauge this important variable is to study various successful sales techniques and see which fits best in your industry, and with your customers. Some spaces are much more compatible with a value-based sale or solution-selling rather than strict consultative sales, for instance. Don’t know what those terms mean? Then your first step had better be to find out not just the basic definitions, but the nuances that differentiate each of them, and make them appropriate to different settings.
In the end, the entrepreneur can outsource things such as accounting, technology, payroll services and other tangible business needs, however the above three intangibles are priceless and should be learned by any aspiring business owner looking to take their company to the next level.