Seven Tips That Will Make You Succeed as an Entrepreneur

with Guest Mike Koenigs: MakingBank S4E6

We are living in a fast-evolving world, thanks to technology. According to researchers, people spend a large part of their time on social media for various reasons. To some, interacting with new people opens opportunities for them, while to others, which forms the majority, is for entertainment alone. In an interview with Josh Felber, Mike Koenigs revealed that he does not Facebook. In today’s social world, it is almost impossible for entrepreneurs to survive without interacting with prospect clients on social media. Mike uses different success strategies to reach out to clients. Let us look at some of them.

Innovativeness

In the twentieth century, reaching out to clients was a big challenge, given the constraints of reaching out to clients. However, people still managed to make sales. During this time, people spend a lot of time coming up with fresh ideas. It is during this era that Mike Koenings developed Mac games and the CD ROM games. Mike was heavily involved in developing websites for the Sony, Columbia Tristar and Fox. According to Mike, zero interaction with the online audience gave him enough time to come up with unique content. Although access to the internet gives one access to unlimited market opportunities, it comes with some limitations. Since the information is readily available on the internet, people find it hard to come up with new content. This is why pre-internet people are said to have been more innovative than the current generation.

Influence

Every entrepreneur has an impact on their audience in one way or the other. It is through interacting with people that entrepreneurs develop a unique influence. Mike Koenings is considered to be an exceptional public figure and entrepreneur. He has used his charismatic influence to help clients successfully poach for new customers. For instance, he managed to make over $50 million online. He was also able to interact with more than 49,000 customers in 121 countries. Those who have associated with him agree on one thing. He is the unique person that every person looking for success would yearn to consult. Another way of being influential in entrepreneurship is ensuring that you walk with likeminded and successful people. It is through these interactions that you tap their success strategies.

Getting a mentor

To succeed as an entrepreneur, you need to have a mentor. A mentor identifies flaws in your marketing strategies and corrects them. Mentors are also responsible for supporting startup businesses financially. They can advance credit or connect the entrepreneurs to potential financiers. A mentor also acts as a network to the entrepreneur, whereby they market the products at relatively low interest.

Digital Marketing

In as much as spending time online reduces one’s innovativeness, it increases their knowledge of marketing products online. In this case, the marketer uses SEO and excellent copywriting to market the products. A common strategy applied is to ensure that the content drives more traffic to the website or blog, and converts highly. When marketing online, the seller must ensure that every single word used in writing reflects the benefits of the product. This not only drives more traffic to the website but also increases the conversion rate. When marketing online, ensure that you do enough research on your target audience. Small mistake like low-quality graphics might chase clients away. A controversial Ad attracts a lot of views and shares. Ironically, it receives very minimal CTR since the content does not benefit the viewers. This is costly to any business since it has a negative Return on Investment (ROI).

Thinking outside Facebook

One of the misconceptions peddled by successful people is that in order to survive, you should opt for Facebook’s paid Ads. However, there are many limitations to this strategy. First, the Facebook page could be shut down for no apparent reason. You would not wish to lose a million-dollar investment over a page that has been shut down. There are better alternatives that you can use to market new products. These include Google and YouTube Ads.

The Facebook mania is catching up with a lot of people, making it hard for them to concentrate. This refers to an obsession with the platform, which makes it hard for people to concentrate other marketing platforms such as LinkedIn.

Connecting with other people

Successful entrepreneurs know that the best way to sell a product is being in touch with the audience. For instance, before you sell pain reliever, you need to demonstrate to your prospects how it works. There are various ways in which you can interact with the people. You can network with influential people in society to do the marketing on your behalf. The network is also responsible for critiquing your products in order to give you fresh ideas for smart marketing. It is through a connection that people get sponsorships. Connection is a success strategy kept as a secret by successful entrepreneurs.

Adoption of new technology

The rate at which the technology is advancing is alarming. The use of artificial intelligence, robots and communication bots is shaping how businesses operate. The only way entrepreneurship can survive in this era is to integrate the technology in their business. For instance, the issue of instant feedback to queries must be addressed before a product is rolled out. Clients need to have their fears, expectations, and disappointments addressed as soon as possible. You should, therefore, come up with a communication bot that is able to synthesize questions and answer them correctly. You should also ensure that your websites have a fast load time.

Due to the high unemployment rates, people are venturing into entrepreneurship. However, lack of innovativeness, passion and social media influence are forcing most of these entrepreneurs out of the market. In order to succeed, entrepreneurs are supposed to come up with unique strategies before pitching ideas to clients. They should also reduce screen time and focus on the issues affecting their prospects. Unless the world population cuts on the amount spend on social media, fifty years from now, we might run out of innovators.