How to Develop the Idea into a Business (Entrepreneur Development)
The Lonely Entrepreneur Podcast
Release Date: 07/19/2022
3 Critical Tips for Time Management
The Lonely Entrepreneur Podcast
An entrepreneur’s regular day can feel like doing 100 hours of work at 10 hours a time. But can you actually do this every day? The technique lies in spending more time on the most strategic things for your business. But let’s say you already know your priorities. Here are some tips that can help you with managing your time. 🎬 3 Critical Tips for Time Management What You Will Discover: ✔️ Do the hardest thing first thing in the morning. This is when you’re at your sharpest. This is when you want to write your strategic plan, not at 7 in the evening when you’re putting your...
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How to Find Your Playground
The Lonely Entrepreneur Podcast
We always tell entrepreneurs that the most important skill that you can have is finding your playground. The playground is where nobody else is playing – where everybody is selling apples, and you’re selling oranges. You might say, “That’s terrific. But everyone else has more resources than I do. There’s too much competition!” So how do we actually go about doing that? 🎬 How To Find Your Playground What You Will Discover: ✔️ Hear a client’s success story. A nurse with a passion for financial literacy went from one of 10,000 to one of one. How? We helped her narrow...
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Positioning is More Important than Product
The Lonely Entrepreneur Podcast
The first thing you may hear from entrepreneurs is... “How do I make my product or service better?” We know you’ve put heart and soul into what you’re building, and you want it to come out as polished as possible. But what I want to teach you is that your positioning is SO MUCH MORE than the product. Before you object, listen in to why this is true. 🎬 Positioning Is More Important Than Product What You Will Discover: ✔️ Hear a real-world example. Think about Nike, ASICS, and Saucony. Which of these brands would runners recommend the most? But which has the highest sales...
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Differentiate Your Business & Dominate Your Niche
The Lonely Entrepreneur Podcast
A simple yet the most daunting question for every start-up entrepreneur: What makes your business different❓❓❓ In today's noisy and often seemingly oversaturated market, nobody's paying attention to anything. For a second, think about yourself. What makes you pay attention when something is put in front of you? Hence the need to stand out and be different. Be able to describe your unique offer, solve problems others have not yet discovered, and establish a new niche where people are likely ready to support and buy from you. ▶️ Differentiate Your Business & Dominate Your...
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What is the Biggest Struggle of Being an Entrepreneur?
The Lonely Entrepreneur Podcast
Talent, passion, and perseverance are all KEY to success in the world of business. However, the biggest misconception for starting entrepreneurs is thinking that these are enough for them to hit the mark and make it BIG. ▶️ What is the Biggest Struggle of Being an Entrepreneur? Key points in this episode: ✔️ An often-used quote describes entrepreneurs as people who "jump from a cliff and build the parachute on the way down." 🪂 As natural risk-takers we connect with this truth, but let’s not start businesses without a plan and have to pay for painful lessons in the long run....
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The Path of the Modern Entrepreneur
The Lonely Entrepreneur Podcast
Am I an entrepreneur? What does it mean to be one? With entrepreneurism seemingly becoming a fad, the definition needs more understanding. It takes a great deal of courage to be an entrepreneur who takes risks to invest one's money, time, effort, and even many aspects of one's personal life to create innovation and create tremendous value in the market. ▶️ Seeking the Path of the Modern Entrepreneur Key points in this episode: ✔️ "Entrepreneur" comes from the French word entreprendre, which means "to undertake." People in the past had different ideas of what today's buzzword meant when...
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The Three Foundational Elements For Your Business (And How to Apply Them)
The Lonely Entrepreneur Podcast
When you try to look for answers as to how to start your business, you’ll get different pieces of advice… every time! Sometimes, they don’t give you a clear plan. In this episode, I’m simplifying it for you. Get a better understanding of the process with just these three foundational elements that you need to know for your business. 🎬 The Three Foundational Elements For Your Business (And How to Apply Them) What You Will Discover: ✔️ Have a financial plan. It isn’t just numbers. It ties into your personal, company, and financial goals. It should be 2-3 years of your...
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The One Skill You Should NOT Use (And What to Do Instead)
The Lonely Entrepreneur Podcast
As new entrepreneurs we start going out and learning new skills, and our first instinct is to go after where the revenue is. We chase customers to follow the money. That’s what entrepreneurs should do, right? What if I told you that’s wrong? I’ll tell you why. 🎬 The One Skill You Should NOT Use (And What to Do Instead) ✔️ New ideas spark new challenges. Any time you bring something new to the table it’s going to be met with either open arms or rejection. Don’t push too hard, work smart, and you’ll find the ones who will surely say, “Yes!” ✔️ Find your...
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Winning In A Hyper-Competitive World
The Lonely Entrepreneur Podcast
If you've gone to a physical store or made a recent purchase online, you were likely spending extra minutes trying to decide on your most valuable picks that are worth your trust and money. As an entrepreneur, consider how prospective customers share the same difficulty choosing the best options in your industry. Therefore, it is your job to help them by crafting goods and services with a unique selling proposition. What sets you apart from the rest? Are you memorable enough? They have to see precisely what your business offers that others do not. ▶️ Winning In A Hyper-Competitive...
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Bringing Your Vision To Life As An Entrepreneur
The Lonely Entrepreneur Podcast
Many times, innovative ideas are hard to execute because, for obvious reasons, they are unique and new. In my early years, I left a promising law career to start IncentOne, the first company to provide rewards for healthy behavior. At the time, rewards in healthcare were not only non-existent – they were offensive. I was told over and over, "we will never reward people for things they should be doing to be healthy." That birthed a new company and a whole new industry. As entrepreneurs, we are expected to be visionaries, yet we must also make that happen by executing plans with...
info_outlineWhen entrepreneurs get that “Aha!” moment of a good idea, it becomes oxygen that fuels their desire into making it into reality.
However, you may pause and think, “So what’s next?” It’s like walking into a car dealership and seeing all the parts on the floor.
In this episode, I’d like to talk about the four steps of the development process and how you’ll take your idea into an actual business.
🎬 How to Develop the Idea into a Business (Entrepreneur Development)
What You Will Discover:
✔️ Articulate the idea into a vision. Your product or service should have something the world needs. It must hit the mark on what you’re trying to solve. The good idea is what excites you to move, and the vision elevates it.
✔️Translate your vision into a strategy. This also means “knowing the big picture about why you can win.” Learn about how big-name brands like Starbucks and Nike sell common products but with unique strategies that brought them to success.
✔️Create a goal-aligned financial plan. It’s the cornerstone of your business. It’s important to identify the resources you’ll need to purchase, the steps you must take to realize your goals, and how many sales you need to hit them.
✔️ Make an operating plan. You have to know how you’ll put in place the structure to bring your ideas to fruition. This involves people with financing and marketing abilities, metrics to measure your progress, and processes to make everything work.