Entrepreneurship Done Right: 7 Strategies You Need to Have Developed


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Business Development Strategy

Entrepreneurship Done Right: 7 Strategies You Need to Have Developed

Business leaders worldwide are the cause of envy for a lot of people – they have a very well-paid job, a gorgeously decorated office, a team of employees who follow their instructions, etc. Most of all, it’s the power that people find so desirable.

However, that power comes with a lot of stress, caused by a wide range of responsibilities. As a business leader, you need to have a vision, and you have to be able to take care of every single individual in your team.

For that to happen, you need a highly developed skill for planning secure strategies that will lead your business to success and enable your whole team to grow and expand. Therefore, if you nurture a strong ambition to become an entrepreneur, there are (more than) a couple of things you should know.

Team Building Strategy

Without a team to stand behind you, you can’t do anything. The road to success is paved with teamwork and mutual support, which is why your startup strategy should be to build a team with strong potential. Considering the fact that experienced professionals will require a significant paycheck and that startups don’t have this kind of budget commonly, you should transfer your focus to young people who are eager to work, talented and educated.

For a team to be able to function properly, you’ll need time. It’s people you’re working with, not pieces of machinery, which is why they will need time to get to know each other and develop a supporting and trusting professional relationship.

Other than various team building activities you can introduce, like playing sports or going to karaoke nights, you should also conduct an experiment and see how they will react under pressure. My suggestion is to do this in the early stages. So, limit them with a strict deadline and you’ll be able to gather the precious pieces of data necessary for further development.

Quality Increment Strategy

Having an idea is one thing, but I’m sure you’re aware of the fact how saturated the market is with similar or exactly the same ideas. Obviously, you need something to separate you from your competition and that something needs to be quite special.

The fact is that many businesses decrease the quality of their services and/or products as they expand, which is why they tend to lose a lot of their customers/clients. A mistake like this can and will cost you your business.

So, that one thing mustn’t happen – the quality of your offer, whatever it consists of, shouldn’t decrease. The first ones to notice that will be your audience and they won’t give you another chance because they will most certainly go straight to your competition. The only way to go here is up, so always have a strategy that will help you raise your worth.

Branding Strategy

Unfortunately, there are a lot of highly talented people who are able to create smart innovations that save time and energy, but their work doesn’t even see the light of the day because they aren’t able to present it properly.

If you can recognize yourself in this picture, you have two options. One is to wait for a miracle to happen and for your work to be discovered and recognized, which might not ever happen. The second one is to put yourself out there and take that risk.

In the world of entrepreneurship, this is done by branding and it is done with careful calculations and planning – a strategy, if you will. People like brands and they stay loyal to them because of their relationship with customers/clients, because of their attention to detail and attentiveness, and because they have a satisfactory offer. And, these are just the three most important pillars upon which you should start building your empire.

Brand Management and Promotion

Efficiency Increment Strategy

As your strategy for branding develops, the amount of work your team will need to do will increase significantly, and no matter how little experience you have with leading a business, I’m sure you’re aware of the fact that you shouldn’t say no to a good business opportunity.

When your office starts overflowing with work and when deadlines start building up the pressure, you should have already gathered a team you believe in. Constantly expanding timeframes and having your work returned for additional alterations will lower the success of your review rates and that will leave a permanent stain on your reputation.

You need to be realistic about the overall capabilities of your team and be aware of the help they might need and the right moment to provide it. Having a training program within your office is one way to go – this way, you’ll be able to hire new people you yourself trained with confidence, and you’ll always have an extra hand. Another way is to go with outsourcing mechanical and repetitive parts like data entry, which will save you a lot of precious time and enable your team to maintain and increase their efficiency gradually.

Expanding Strategy

The fact that the market is highly saturated directly affects the following scenario – if you have been standing in one place for quite a while and nothing seems to be happening, you’re not only stagnating but going backward. The world of business is developing quite fast, and if you’re missing out on updates, it’s a matter of minutes before you become old news.

Every business leader needs to strive towards constant expansion. Whether you’re hiring new people, expanding your list of services, introducing new products, or opening for new department in your office, it is a certain investment in the future of your company.

However, timing is everything here. Having new employees which you can’t pay out in time, releasing new lines of products that aren’t complete or offering a service you can’t deliver will obviously lead you to bankruptcy. Therefore, this is another strategy that requires your full attention – expansion is a necessary step and it needs to be created with a lot of thought.

Growth Hacking Strategy

Well, this is more of an attempt than a strategy, because growth hacking isn’t really an equation with a certain result, but you should give it a go either way. Advertisers who managed to put their business on the map because of growth hacking did it thanks to the internet and the fact one of their methods went viral.

I’m sure you’re familiar with what kind of news can gather the world’s attention in a matter of minutes – it’s all kinds of random things which can’t really enable us to create a rule book for growth hacking. It’s an uncertain strategy and your attempts may be in vain in the end, or incompletely successful, but it’s definitely worth a shot.

In the meantime, a way for quicker growth is very similar to the methods you would use to increase the overall efficiency, as we previously mentioned, and other than people, you should also put your focus on smart pieces of software which can make your delivery process faster without it affecting the quality of your work.

Growth Hacking Strategies - AltusHost

Advertising Strategy

Advertising is quite a science now and its methods might be manipulative because they are mostly based on the human subconsciousness, but we won’t get into that right now. There’s a simple purpose to marketing – to put you on the map, enable potential customers to get in touch with you and help you create new partnerships.

The importance of quality advertising is priceless, and if you don’t have the funds to have a special department dedicated to developing a fresh strategy for you constantly, you should do your research carefully and see what marketing agency can meet your requirements and fit your budget.

You should also know that advertising requires constant work because conducting a branding strategy and stopping there won’t get you anywhere. This is why it’s necessary for you to make constant efforts to keep the attention of your existing circle of clients/customers and attract new ones.

There’s one more thing I’d like to mention – this desirable job title will require a lot of patience if you aspire to succeed, so it’s quite necessary for you to be able to deal with stress, anxiety, and pressure if you don’t want to damage your health.

All of this seems like a lot of work, and it really is. Being a business leader comes with an extensive job description and you should be confident about your strengths before you enter the world of entrepreneurship. Being fully prepared for this job is a very important precondition and you should take your time, develop your skills and expand your area of expertise until you’re ready to lead a team and be a serious competitor to existing businesses. Good luck!

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Charm Your Audience Into Making More Conversions with These 4 Tricks

It doesn’t really matter who you are, or what you do – you’re in the business of making more sales for you or your employer! Sales was, is, and forever will be the foundation of every living and breathing business. It’s the no.1 goal of every single profitable enterprise out there. And why shouldn’t it be? – If you fail to generate new customers, then it’s only a matter of time when you’ll be forced to close up shop, and move on to your next best idea.

Without new sales, there’s no business. Period. Yes, it’s simple as that. That’s why every serious brand out there is going out of its way to charm their possible buyers into purchasing some of their services or products. They are doing everything in their power to get people to acknowledge their efforts and motivate them to eventually purchase something on their website.

Even though this sounds pretty straightforward, creating sales isn’t really that easy. We live in a day and age where almost every business has the chance to work globally. Everyone who has at least some knowledge of how the Internet works, has the power to reach out to his or her targeted customers. Thanks to that, it doesn’t matter in which niche you operate – if it’s profitable, you’ll gonna have some competition.

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Like that wasn’t enough, these days, no one really just randomly walks into the store, takes a lot around, and buys something. Nope. Especially in the B2B world. Today’s shoppers are insanely smart and well-educated. All their decisions are fueled by data and the information that they find online.

Knowing this, most digital marketers, myself included, understand that we cannot make people buy our stuff, just because we asked them to. No. In order to get our targeted crowd to make any sort of a conversion on our site, we need to give them something of true value. We need to become something more than just salesmen. We need to figure out how to charm our customers and influence their decisions, instead of just force annoying advertisements in front of their eyes.

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How come? – Well, because, ads don’t really sell products these days – content does. And not just content, but all those other little things that govern human behavior and help us influence our targeted crowd for the better.

Today, I want to write about that. I want to write about all those things that help us charm our customers into creating more conversions on our site:

The Gain Game

It doesn’t really matter what you do, or if you run a big or small business – conversion optimization is never something that comes easy to anyone. Even though your mission is pretty clear here, influencing your site visitors to take action on your site is never really that simple as it might seem.

If you try to push something their way, 9 out 10 people will rebel against your ads, CTAs and proposals. They will leave your site and never come back. How come? – Well, because, they’ll see you as desperate. Your targeted users will immediately picture you as someone who has only one thing on his mind – to rob them out of their money!

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You don’t want that. You never want to make your visitors feel like you’re only interested in their cash, even though you really are. That’s why, when coming up with a successful conversion generating strategy, you need to have in mind that your main objective here is to empower your visitors decisions, and not force your will on them.

Loss Aversion

One my favorite conversion generating tactics is the so-called “loss aversion” approach. It’s quite simple and logical, really. Research has shown that people derive more satisfaction from avoiding loss, than gaining something. Most successful marketers know that, and that’s why they’re always trying to approach their customers with messages that guarantee success or a certain value for them.

If people feel like there’s even the slightest chance they could be seen as losers in a certain deal – they won’t bite. That’s why you need to do everything in your power to feed your customers with knowledge that ensures them that they’re making the right decision by doing business with you.

Always list the benefits, and make sure that your users feel like they’re constantly gaining new value from your products and services. Also, make sure that your audience sees exactly how much loss they are avoiding. Groupon has done a great job here. The people behind this brand are extremely good in utilizing loss for their clients. They actually show you just how much money will you save, if you decide to act now. Brilliant!

In my experience, people are actually willing to spend money, in order to avoid a perceived loss. That’s why it’s of crucial importance that you focus on the benefits of your deal, instead of just pushing your products and services on your shoppers.

Free Trials

I cannot stress enough the importance of giving free trials to your customers. Being a natural extension of the above-mentioned approach, free trials work extremely well in the B2B world. Why? – Well, because most people tend to overvalue things, and usually, in that process, get complete off track. They start to develop all sorts of doubts, which usually result in the creation of an additional layer of risk.

But, with free trials, all this goes away. Apart from demonstrating confidence in your products and services to your targeted crowd, you’re also utilizing loss in the best way possible. You’re giving something for free, without the necessity of receiving something back.

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This is great!  

Why? – Well, because you’re engaging your users. Next to that, you’re giving them a chance to see what’s behind the curtain, before they even leave their digits on your site. That’s why, once I get people to sample my goods, I do everything in my power to feed them with additional content that teaches them how to successfully use my products or services in order to win big in business. This sort of thing has usually worked well for me in the past. Once people see the value behind your offerings and how to utilize them, they’ll get attached and usually end up becoming your long term customers.

The “You Can Do It” Method

One of the reasons people don’t actually purchase something is because they don’t really understand it. Most of them don’t really go forward and pay for something that interests them because they don’t think that they’ll know how to use it right. It looks hard. This is especially common with tool/software world. Sure, price also plays a major factor here, but not big enough to actually turn real customers away. 

Knowing this, it’s your job to reassure your targeted audience that they’ll get their money’s worth if they go ahead and purchase your products. They need to know that there’s no chance in Hell that they’ll end up wasting hours and hours on learning how your software works, only to see themselves fail at making it worth their while.

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That’s why most big brands, like SEMRush, for example, write all sorts of content that demonstrates to their users how to get the most out of their subscription. This is how you optimize your conversions – you educate your users and feed them with all sorts of easy tips and tricks on how to win big in business.

Reassure, Reward

You need to constantly reassure your crowd that they’re making the right choice by doing business with you, and that their success is something that’s unavoidable, as long as they stick with you.

That’s why it’s important to reward success, and write all sorts of use cases, case studies that demonstrate how certain individuals have made the most out of their investment with you.

People learn by example. It’s good for them to see that someone similar to them is winning on all fronts. This sort of thing makes success relatable. That’s why content marketing should always be on top of your marketing priority list. It really does work, if you know how to use it right. It will help you triple your conversion percentage, if you just invest a little brain power into it and start to think as your users and potential targeted customers do.

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Apart from that, it’s also highly advisable to constantly motivate your users, provide feedback, and reward them when they complete a certain action correctly or reach a specific milestone.

It’s important to keep your long-term users satisfied. It’s not that hard to satisfy those clients that already love your brand, but it’s a huge waste if you don’t make an actual effort to them feel special. How come? – Well, because, these people are usually the ones that already trust your brand and services, and they are probably willing to upgrade their package if you give them enough reasons to do so. That why you need to plan ahead, and focus on the future. You need to take extra good care of them and feed them with great new deals and discounts, because these are the people that are most likely to convert again on what it is that you’re selling.

Thank you for taking the time to read this post. If you have anything to add or ask – feel free to write your thoughts in the comments section below!

That’s it for now,
See you soon again,
Goran @ AltusHost B.V.

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