This week is Global Entrepreneurship Week, and in today’s economy, entrepreneurs and small business owners need every advantage they can get. Entrepreneurial business consulting firm Strategic Coach® today announced five tips for entrepreneurs to gain a leg up on the marketplace and blast the competition out of the water.
“At the center of entrepreneurial motivation is the desire to know something no one else knows, see opportunities no one else sees, have a capability no one else has and have access to resources that no one else has,” said Dan Sullivan, founder and president of Strategic Coach. “Global Entrepreneurship Week is a perfect opportunity to celebrate entrepreneurs and equip those fighting for a bigger future with the tools needed for unlimited growth, freedom and an unfair advantage.”
Strategic Coach advised entrepreneurs and small business owners to:
- Start with rejuvenation. Taking time off allows entrepreneurs to rest and relax, and then approach problems and opportunities with renewed energy. When your competition is exhausted from lack of rest, you’ll be rejuvenated and highly productive. After a while, no one else will be able to match your level of energy, attention and capability.
- Build a bigger, better future. Entrepreneurs with a clear picture of the future have a distinctly unfair advantage over the competition. As progress and growth depend on the ability to see a bigger future in any situation, having this vision will inevitably draw the most useful talent and resources toward you and away from the competition. Regular, focused attention on your vision can have a dramatic effect on progress.
- Create “Cloneable Clients™.” One of the strongest assets in any business is its clientele. Train yourself to nurture the top 20 percent of your most valuable clients, create value for them, and then find more clients like them. This approach will dramatically increase your profile and reputation, bring in more rewarding business, and allow you to create a monopoly situation before anyone else realizes what you’re doing.
- Focus on strengths. We’re often taught to improve upon our weaknesses, but what we end up with are just a lot of strong weaknesses. To maximize the growth of a business, put the focus on what you love doing and have a passion for, and on being a hero to other people. Then, continue to build your team using the same principles. Developing everyone’s strengths will have a multiplier effect on your results.
- Establish a value creation monopoly. As an entrepreneur, you’re in a unique position to create value. Taking advantage of this situation allows you to become indispensable to your clients. By integrating your passions, experience, wisdom, and capabilities into situations and processes that help others, you’ll find yourself creating a much bigger future than your competitors—financially, creatively and personally.