With more than 400 million entrepreneurs around the world, 1 in every 18 people is an entrepreneur. The word alone is one of the most famous and used words of modern times.
It is also true that most of the businesses fail in the first year of operations, so the most asked question is what makes a business grow and what are the principles of successful entrepreneurship.
What is better than asking this question from an entrepreneur himself, and in this post, we cover the comments and principles as described by Gerry Sanchez. Gerry Sanchez is a born entrepreneur, author and has been building many ventures for more than a decade. Being a motivational speaker and influencer, he understands the psychology of humans and how small things can make a big difference in your business journey.
He believes that there are three main pillars of a successful entrepreneur. You can literally achieve anything if you can master these three skills and adapt your thinking in the same direction. Without any further ado, let’s discuss his views in detail.
- Ability To Evolve & Adapt
Entrepreneurs are actually the most adaptable species of humans. Trends, technologies, markets and the way business is done keeps on changing with every passing hour. Especially in the last two decades have seen the unparalleled speed of changes happening in society.
Inventions and revolutions in technology is the result of many jobs being extinct today which were in high demand about two decades ago. Similarly, most of the large corporations of the second half of the 20th century are nowhere to be seen!
The biggest reason for failure for most of the companies is also the lack of change and continuing with traditional solutions. In order to be a good businessman, you must adapt to changes quickly, and you should always be curious about finding solutions to modern problems.
Your ability to evolve and adapt will help you to solve modern changes and solutions of problems are the basis for business. Entrepreneurs need to realise that the concepts which help them build businesses will also expire with time and constant innovations are what can help them survive and thrive in the Industry.
Gerry Sanchez speaks this from his personal experience as his ventures have changed with time and continue to brainstorm new ways of business. The recent developments in the world of marketing prompted him to begin his consulting business and also focus on the online marketing domain which he has mastered over the past decade.
- Build a Long-Term Network
Humans have made the concept of businesses, and humans work on the basis of emotions. The foundation of many businesses has been made on relationships. Professional relationships can do wonders for your business both in terms of revenue and getting investors for scaling your business. Every client pays a company based on a trust which has been created by emotions.
Building your business network and working on it is equivalent to building your business. Some of the significant benefits are –
- You get a consultation from market leaders in your niche
- You open doors to make connections with investors who will invest in your idea and help you scale
- Financial connections
- Opportunities to explore and capture new markets and set of customers
Most of the successful entrepreneurs talk about how they did not have an idea of the solution they are famous for when they started. You will also get to witness a lot of changes in your business when you start interacting with a dense network.
Experience and new learnings are what we get from interacting with successful businessmen, and you will get to know of a lot of opportunities which you had no idea about. Your next big break is lying in a conversation that you are going to have in the future with a business enthusiast just like you!
- Putting Your Passion Into An Attainable Reality
The first thing to make sure before starting a business is visualising your passion and making sure that your business resonates with your passion.
Although, just working on something related to your passion will not convert it into a money-making business. You have to align your passion and goal into an attainable goal and make a business plan. The first step is the idea validation which will help you understand if the target audience that you have chosen for your marketing campaigns is actually in need of the solution that you are providing?
You also have to conduct extensive competitor analysis while evaluating all the possible revenue streams that you can generate with your particular solution. “Content is King” in the modern world and planning your content with a foolproof content marketing strategy will help you get customers.
About Gerry Sanchez
Gerry Sanchez is a personal development consultant, best-selling author, and multimedia expert who has helped thousands of working professionals and other self-starting entrepreneurs grow, maximize their potential, and achieve sustainable results.
After receiving his Bachelor’s in International Business from Anahuac University, Gerry published four books, developed a number of successful online masterclasses, and conducted countless international seminars. He established himself on major media with a highly popular Youtube channel that boasts over half a million followers. Due to his entrepreneurial success, Gerry is currently writing two additional publications while expanding his services and planning to implement a full-time consulting firm in the United States.