The Journey to Entrepreneurship Success

Knowledge shared by Entrepreneurs journey to success

In my quest to create, curate and cultivate helpful content for our audience, I stumbled upon this amazing site, Mavenly.co, a dedicated resource for career-minded women.

The goal of their site and company is to help their audience live the life of how it ideally looks like for them.I found their Podcasts quite informative, along with much of their site content.

To help in your journey of success, I have picked my top 3 helpful in the path to Entrepreneurship. Enjoy the listen!

PodCastBeing Entrepreneurial in Your 9-5 with Porsha Thomas

Conversation with Porsha Thomas, Founder of Ladypreneur League about the inspiration behind LL, the journey from freelancing to a 9-5, how she’s kept her entrepreneurial spirit while working a job, what her routine looks like, and what topics she thinks young women can benefit from exploring.

https://soundcloud.com/mavenlyco/ladypreneur-league

PodCast: Navigating the First Year of Entrepreneurship with Muse Monthly

A conversation with Christina of Muse Monthly on her Entrepreneurial journey, from quitting her full-time job in fashion to starting her subscription business, as well as navigating through all that comes along with the first year of entrepreneurship.

https://soundcloud.com/mavenlyco/muse-monthly

PodcastMonetizing Your Strengths + Speaking Professionally with Shinjini Das

A conversation with professional speaker Shinjini Das. about balancing full-time jobs with side projects, identifying strengths and value in the workplace, how to profit from these efforts, as well as an inside look on Shinjini’s path to becoming a professional speaker.

https://soundcloud.com/mavenlyco/shinjini-das

Do You Know the Problem you are Solving for your Customers?

One of the biggest mistakes we make when developing a new Product or Service is basing it on what WE want rather than what solves a customer problem.

 Even the biggest of brands have made this error in judgement when developing new products.

For example, Gerber’s attempt at selling Adult Baby Food with flavors like Filet Mignon and Salisbury Steak.  Or Coors’s introduction of Bottled Water, marketed using bottles resembling their beer products – not an image you want to project at work, right?.

Those products failed because they overlooked one main factor : Sell the Solution to a Problem, not the Product.

 

Before creating a product, first figure out the problem. Then Find the solution. Build the Product. Go out and sell it.

Become the Expert: 

Take assumption OUT of the equation!  There is nothing worse for a customer than buying a product and feeling completely disappointed that it does not provide the solution to their problem.

Best Practice: Become the Expert of your industry and craft.  Spend a lot of time educating and understanding of that world as much as possible – Trust me, your knowledge of the industry will speak through your product!

Know your audience before you start building your product: 

Customers are your best source of information and know what they want and need for their business, so one of the first  steps in developing a product is Market Research.  Understand what the problem, or problems are.

The benefits to conducting Market Research is to get opinions from real consumers that will tell you of the problems they need a resolution for.

 Who are current competitors in the space: 

A good practice is  to know who your competitors are in your space.  This type of insight in invaluable and will help build a better solution; however, do not become a mirror image of them.  Set yourself apart from the competition, focusing more on building a better product.

Know your Return-On-Investment: 

When building a product, especially at a start-up, you typically encounter the challenge of resources being limited and often finding yourself wearing many hats to get the job done. While building a product is never easy, taking the time outline the costs to building your product, and all that goes into it (i.e.: Packaging, delivery, employees, licensing, etc.), will help you develop a pricing point for a strong profit margin.

Get Feedback: 

Before you spend a great deal of money on mass production, start off with a small sampling size.  Get feedback from your clients, adjust the product until you feel you have a great product.

Above all, be organized in your approach by keeping timelines and outlines of all your work and always have an open mind to ideas and feedback that will help you build an outstanding product.

Have you built a product?  What suggestions would you share on with fellow business owners regarding your experience (good or bad)?  We’d love to hear from you, so share in the comments section. 

 

 

 

Success Story: = SPACE

Just a Boy From Brooklyn | Medina | TEDxNJIT

Success story of how Medina achieved great success : Just a boy from Brooklyn. Made in Newark. Making something out of nothing.

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