If you’re like me, you watch top entrepreneurs and marvel at their energy, their commitment, their effectiveness and by extension, their influence and ability to capture the attention and profit from their marketplace.
For every top entrepreneur there are 10 others who lack that fire, that passion and as a result, their business flounders, many end up completely bankrupt.
What is the difference between a superstar trainer and digital product entrepreneur Tony Robbins and the thousands of others who can’t even fill a single room in their home town?
What is it that a top software or digital advertising guru has that the local corner store entrepreneur has that makes such a massive difference in every aspect of their lives – as well as many others?
In the end, it comes down to the market and business that the entrepreneur chooses to build AND how lofty their goals are within that business.
Someone who takes over a family business is limited both by the fact that it is likely not THEIR passion since it was handed down to them AND their goals are set by whoever came before.
On the other hand, those who identify a market or idea around which they can both get excited and leverage their strengths is one where they can see the path to MASSIVE goals so clearly and certainly that they go on to achieve amazing results.
Here are 5 ways that TOP entrepreneurs go about choosing their business and WINNING BIG
They Run With Their Passion
Infomercial producing pioneer and Shark Tank guest Kevin Harrington (Author of Key Person Of Influence) has pointed out in interviews that he was fascinated by pitch-men at trade shows when he was a kid. The ability for them to capture the attention of a crowd and then pull money for crazy products was intriguing to him. So he spent more time watching, learning and making connections with these pitch-men. He then found a way to put them on TV late at night and suddenly his business, influence and wealth was created. When you align your business with an interest, fascination, passion, etc…you become energized, empowered, influential, trustworthy and highly effective
Test Their Ideas Before Full Rollout
We learned this the hard way. When we came out with our first digital product in 2000 it sold like wildfire, partners picked it up, people wanted to interview me and buy the product. Then came the second product into a different market and it flopped. After several months of wondering what went wrong, we figured out that we had missed the mark with the topic and discovered (through interacting with our market and testing different content pieces on our website) that with a small tweak to our angle, title and messaging we hit the ball out of the park once again. There are so many ways to test your product ideas these days: Test content (videos, articles, blog posts, emails) and gage response, start a crowd funding campaign to test feedback, pass it by key influencers with free review copies, run a beta course or class and get direct feedback…there is no longer a barrier to testing your product ideas
Focus On The Value To Your Market
So many digital product entrepreneurs we deal with over at InfoMarketer’sZone start by forcing what they know their market NEEDS only realizing that they should have given them what they WANT first and then sneak what they NEED into the content. In other words, people don’t WANT to exercise like a dog for 50-minutes a day, but they do want to lose 20 lbs in 30 days. So your angle is a plan to lose 20lbs in 30 days and you leave the details on how for the product itself. Sell the value NOT the system
Understand The Power Of Leverage.
Another common category of people we help launch their own businesses started with a product or service that simply couldn’t scale. It was a personal consulting business, selling other people’s products, or a one-time product with little opportunity for upsell or longevity (Ex mobile apps). What top entrepreneurs understand is that there is leverage built into their business either through “create once, sell many times” models like digital products or via specialized knowledge that can be sold for many times what it cost you to get it — you want to be able to continue to add value even after you have moved on to your next project
Work With Other Influencers.
This one mistake is almost universally made. New entrepreneurs believe they must do everything themselves. That they have to have ALL the answers. That everyone else is either a competitor or they don’t care. That you are a tiny ship in a big ocean and somehow you will find it to shore. In truth, top entrepreneurs do not operate that way at all. They are always looking up and learning up. They seek out partners, mentors, influencers to both learn and to leverage for their start
Which of these concepts can you use to grow your business faster?
Are you making any of these mistakes?