The 5 Best Entrepreneur’s Strategy 2018
Best Entrepreneur strategy 2018, entrepreneurs are worth to be celebrated because of their undaunted hard-work, smart-work, and strategy’s they use to illuminate the world, trying to make the world a better place with their idea’s. Entrepreneurship is a career. To succeed, you must approach it strategically.
We hear of entrepreneurship every day but we ain’t aware of what makes it a reality. Everyone wants to be an entrepreneur overnight, to live their dream life but here, it’s NOT a fair game anymore, correct?
The world HAS changed.
The economy HAS changed.
It’s virtually IMPOSSIBLE to achieve financial wealth if you still play and stick with your normal strategy, you have to stand out.
To understand the new rules of the game you need to learn the new rules of the Digital Age and develop a new mindset. Below are the Best Entrepreneur’s Strategy 2018 which have worked out for many entrepreneurs and startups.
Best Entrepreneur strategy 2018
CUSTOMER FEEDBACK STRATEGY
Entrepreneurs often make the mistake of not critically evaluating and analyzing customer’s feedback, and this hinder’s their business. Entrepreneurship without strategy leads to chaos. Without making enough research and analyzing of customer’s feedback, the business perishes because the services/product does not possess values. Let’s take a look at how these entrepreneurs were able to survive the market challenges and become successful.
XIAOMI-CEO Lei Jun
Xiaomi is now the third largest smartphone maker in the world followed by Lenovo and LG at fourth and fifth place respectively. Samsung and Apple hold the first and second positions respectively. Within a period of four years, Xiaomi has managed to get the magic back with some savvy marketing, unique product development through CUSTOMER FEEDBACK, coupled with continuous & incremental improvement.
Entrepreneurship is not all about always finding something new, it also involves Finding market leakages, loopholes, alternatives, and flaws in strict systems and exploits the hell out of it. Xiaomi came into the world of the smartphone not with a new product, nor with unique features. Xiaomi’s innovation is a fresh breath of air. Granted, a majority of their features are copied (‘inspired’ is the official word) from other companies. But I’ve got to hand it over to Xiaomi for copying the best of features. If you copy what is successful and improve upon it…people will buy your products.
Xiaomi doesn’t address their audience as customers, they call it ‘ base fans’
The rate of change of technology has really changed entrepreneurship to be a game for the curious and street smarts. If you cannot bear the pain, time is now that you change your path. Failure is a part of a business. Very few entrepreneurs ever make it big without first experiencing some massive failures.
Personally, I see that the only real strategy that works in our fast-moving world is lean. Being lean means shipping early, achieving product/market fit by repeatedly trying. Lean it is about building fast and failing fast. So fail fast, fail cheaply and just adapt. Same is true with life.
NETFLIX – CEO REED HASTINGS
Reed Hastings and Marc Rudolph, two software engineers, founded Netflix in 1977 to use to internet to rent movies on DVD. In 2002, Rudolph left Netflix. It took Netflix TEN years before they got into streaming and even when they did, in 2007, it then took them a couple more years before they took off. Trying and trying to get it right for over a decade, but once they did they became a US$75bn company pretty damn quick.
Netflix was only saved by their application of the lean strategy. Despite Blockbuster and other rival companies which have taken much of the market share, they were trying and trying and eventually, they got it right. No business booms without countless failed times. This lean strategy works well for entrepreneurs, Thomas Edison (inventor of the light bulb) seem’s to have applied the lean strategy, he made 1,000 unsuccessful attempts.
Whatever business you choose, stick with it! You’ll have some shit times ahead. You’ll think of quitting. Don’t! Keep going. You will succeed! It is a not get rich quick scheme, but once you get successful you become exorbitant rich and wealthy
Please, kindly drop your comment or share your thought below or let me know any questions you have. I would love to hear from you.