Chris Kille is the CEO of Payment Pilot and Elevate Outsourcing, operating out of Charlotte, NC.
Think you’re ready to take on the cut-throat world of business? Before you leap into the fray, brace yourself for the unexpected with these seven unconventional, battle-tested lessons. As an enterprising entrepreneur, I’ve navigated tough terrain, met with success and failure and emerged with invaluable, quirky insights that can give you a competitive edge in your business endeavors.
From the importance of a fortress-like plan to choosing your battle buddies wisely, making your brand’s presence felt, and nourishing your client relationships, these lessons can upend your conventional business acumen and leave you confident and self-assured as you blaze a trail toward triumph.
So, buckle up, my friend, for this wild and sassy ride. These lessons will undoubtedly challenge your assumptions, stubborn beliefs and the status quo. But as you absorb and embrace them one by one, you’ll be energized to tackle the business world with an unstoppable spirit that helps propel you to the top!
Lesson 1: Build a business fortress with a bulletproof plan.
You wouldn’t enter a warzone without a plan, would you? Neither should you launch a business without a solid plan in place. Your blueprint must include the following:
• A sharply-defined mission statement.
• A comprehensive breakdown of your products or services.
• A precise market analysis.
• Detailed financial projections.
• A granular analysis of your target audience.
Don’t skimp on the details, as a well-crafted plan could drive your business to greater heights and provide a failsafe buffer against the unknown.
Lesson 2: Choose your comrades wisely.
In business, strategic partnerships are essential. But partnering with friends or family could jeopardize your success. Find co-founders who share your vision, bring complementary skills to the table and are as fiercely committed to driving the business as you are.
I learned this lesson the hard way, partnering with a friend on a doomed venture. Our conflicting ideas took their toll, resulting in our partnership’s unraveling and the shutting of the business.
Lesson 3: Make your presence felt.
In business, it’s not enough to be great at what you do. You must be known for it. Crafting a robust brand presence requires networking with the right people, attending influential industry events, and leveraging social media to get an edge.
When I first launched my business, I refused to take a backseat and let my brand hibernate behind the screen. Instead, I embarked on an all-out advertising rampage, distributing flyers, organizing events and attending trade shows. My brand gained traction and skyrocketed in visibility, attracting valuable clients and investment opportunities.
Lesson 4: The customer is king, tyrant and judge.
In business, pleasing your customers is of paramount importance. Strive to surpass their expectations by listening to their feedback, addressing their concerns and enhancing their experience with every interaction.
I once had a disgruntled customer who was unhappy with our product. Instead of turning a blind eye, I listened to their complaint, cast my ego aside and worked with them to find a solution. It not only retained that customer, but their satisfaction also brought in new business.
Lesson 5: Failure—it’s your greatest weapon.
As an entrepreneur, you’ll undoubtedly face failure. But it’s actually how you handle it that separates the strong from the mediocre. Look at failure as an opportunity to gain valuable insights, learn, adapt and emerge stronger.
I learned this firsthand in my entrepreneurial expedition. I experienced a string of failed ventures, but instead of throwing in the towel, I saw it as an opportunity to pivot, analyze and refine my strategies. Resilience, determination and a fearless attitude to failure paid off big time.
Lesson 6: Monitor your finances closely.
Your finances are undoubtedly the lifeblood of your business. Keep a tight leash on them by establishing a solid budget, tracking it to the very last cent, and investing smartly. Don’t be caught off-guard—keep contingency plans in place in case of unexpected expenses or setbacks.
In my early days as a new entrepreneur, I was expense-agnostic, overspending in some areas while neglecting others. Hiring an expert accountant and implementing a meticulous budgeting plan was a game-changer, steering my finances in the right direction.
Lesson 7: Don’t just be the boss, be kind to yourself.
Your business may be your heart and soul, but it shouldn’t be your downfall. Don’t neglect yourself in your bid to build your empire. Maintain a healthy work-life equilibrium, schedule breaks in between work, and indulge in activities that make you happy.
When I started my business, I was work-obsessed, a sure recipe for burnout. Incorporating a routine of breaks, self-care activities, and work-life balance rejuvenated my productivity and gave me the clarity of mind to make critical business decisions effortlessly.
In conclusion, entrepreneurship is a risky undertaking, but by applying these unconventional lessons, you’ll be buffeted against unforeseen circumstances. So, gear up, embrace the uncertainties and confidently pave the way to success.
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