ISmall-Business.net

Intelligent Business Solutions

  • Home
  • Strategy
    • Small Business Strategy
      • Combining Niches to Maximize Profit Potential
      • High Ticket Versus Volume Niche Selection
      • How to Know When to Cut a Business or Niche Loose
      • Never Put All Your Eggs in One Basket
    • Sales Strategy
      • Facebook Networking Versus Paid Advertising
      • Brainstorming a Successful Sales Funnel
      • Best Practices for Profitable List Building
      • Backend Sales Strategy Tips
      • A Better Way to Use Webinars for Profits
      • Creating a Welcome Email That Makes Money
    • Production Strategy
    • Human resource strategy
  • Management
    • Business action plan
      • 7 Things to Send JVs to Get Them Onboard
      • Don’t Make JV Promises You Can’t Keep
      • How to Host a Challenge and Maximize Profits
    • Small Business Management
      • Putting Profit Tasks First During Time Management
      • How Self Doubt Sabotages Your Financial Success
      • Repurpose Your Content to Save and Make Money
    • Business Management Topics
      • Fighting the Stigma of Failure
      • Figuring Out the Perfect Launch Date and Time
      • Bonus Creation That Catapults You to Leaderboard Domination
      • Do Customers Prefer Video or Text Courses
      • Minimize Your Risk of Refunds with These 5 Tips
      • How Often Should You Email Promo Material
      • Narrow Niche Domination
      • Perfecting the Launch Process for Increased Profits
    • Business Management Blogs
      • Nobody Expects a Perfect Expert
  • Ideas
    • Find business ideas
      • 5 Lucrative Non IM Niches
      • 6 Niches That Are Hot on Social Networks
      • Are PLR Stores a Viable Way to Make Money
      • How to Know If a Membership Site Is Right for You
    • Idea feasibility
      • How to Make Money Off a $7 Product
      • Recurring Income Options
    • 10 top business ideas
      • Could Coaching Bring in More Money Than Products
      • Individual Coaching Versus Group Coaching Profits
      • Building a Reputation as a Powerful Affiliate
      • Pinterest Profit Niches
    • Low cost business ideas
      • Making Money Off eBooks and Reports
  • Valuation
    • Business Valuation
    • Increase business valuation
      • Making Wise Investments in Tools to Further Your Business
    • Business Valuation Methods
    • Understand business valuation
  • About
    • About Me
    • Blog
    • Contact Us
    • Sitemap
    • Privacy Policy
  • Strategy
  • Supply Chain
  • Customer Focus
  • Entrepreneur
  • Biz Opportunities
You are here: Home / Entrepreneur / Trying Something That’s Never Been Done Before? Top Tips from Entrepreneur Pioneers.

Trying Something That’s Never Been Done Before? Top Tips from Entrepreneur Pioneers.

March 30, 2018 by Asif Nazeer Leave a Comment

[ad_1]

Leadership advice for those brave souls heading into the great unknown.


March 30, 2018

5 min read

A Note From The Editor

Think your company has what it takes to make our Top Company Cultures list? Apply now.

Apply now »

Opinions expressed by Entrepreneur contributors are their own.


“Tech entrepreneurs who start companies in nascent industries face a whole new set of challenges. Think of them as “virtual hurdles” that they need to overcome to be successful. There is no roadmap to follow, no precedent to learn from. Working in an industry that’s just starting out or not even a thing yet, these entrepreneurs not only have to invent brand new ways of thinking and seeing the world, they also need to convince others to buy into their vision. 

Below are tips from three CEOs on how they succeeded in an industry that didn’t even exist yet.

Image credit: Avi Horowitz

Taylor Freeman, CEO and Co-Founder of Upload

Build a community.

“When building a company in an industry that’s also in the process of building itself, you have to find like-minded people who share your passion. We hosted a series of meet-ups around VR and used our online properties to keep people up to date about the latest industry news. To date, we’ve hosted more than 450 events and have reached more than 200 million people online.”

Related: The Complete 12-Step Guide to Starting a Business

Find your pillars. 

“When you’re clear about your vision and have defined the pillars around which you are going to build your company, you can always point back to those truths and remain inspired to keep pushing forward—no matter how difficult things may become. For Upload, our pillars are connection, experience, and inspiration. These are the three areas that continue to drive our decision making for new products and services as the industry and community evolve.”

Ask for advice.

“Establish relationships with smart investors early on to prove your passion and show them that you’re someone who sticks to their word. We met our series-A investor two years before they invested in us, giving them a chance to watch and experience our growth and progress as a company.”

Image credit: Nicole Biesek

Nonny De La Pena , CEO and Founder of Emblematic

Ignore the nay-sayers.

“I remember colleagues pointing their fingers in my face or cornering me to tell me that what I was doing could not work. Ultimately, I ended up losing my job over pursuing virtual reality. But I believed in what I was doing and so I had to figure out how to make it happen anyway and that ethos is what I try to imbue now at Emblematic: There is always a way to make things work.”

Make people literally lean in. 

“Always to be aware of the moments when you need command a room. I recognized early on when I needed to consider speaking in a deeper tone. I tend to be naturally boisterous and opinionated so, I have to remember that I have often seen some of the most powerful people dominate the room by lowering their voice and practically whispering.”

Related: What Every Startup Must Do to Get Investor Ready

Simplify and outsource. 

“Try to find ways to simplify your life, including outsourcing HR, insurance and payroll into one service. I got bad advice to try to do each separately to save the money but once I moved over into a combined service, the streamlining saved me so much time that I was able to concentrate on bigger issues in growing the company.”

Image credit: Misti Lane

Charlie Nooney, CEO of MobiTV

Reinvent yourself. 

“MobiTV originally built the first technology designed for mobile devices to receive live video content streams. We changed the market, then the market changed on us. The business foundations around mobile became less relevant in the marketplace as the industry evolved. However, we came to the realization that the tech developed around our legacy business was incredibly relevant to IPTV delivery of video to the home. So we figured out a way to use our technology to help a new set of customers who needed to evolve: pay-TV providers.”

Mind the gaps. 

“It’s highly unlikely that there aren’t holes in your business that need to be addressed. Look at your strengths and create a plan to fill those gaps quickly. Then, stay focused on direction so you’re taking aim at success, aggressively, with a clear understanding of what you need to do to make your team the best it can be.” 

Get an early win.

“In the beginning stages of your company, there will skepticism from the market, investors, and perhaps even employees. The sooner you secure a solid win, the sooner the doubt will subside. As a leader, your job is to instill confidence in your team and anyone standing behind you in your business. No matter how ready you are to make an impact on a new industry, it’s impossible to be ready for everything. There will be bumps and surprises. Expect them and close as many positive wins as you can, from day one, to keep your team and investors focused on the positivity, while the bumps continue to show up along the road.”

Related video: 7 Crucial Lessons I Learned While Starting a Business

[ad_2]

Source link

Filed Under: Entrepreneur

About Asif Nazeer

My current sphere of interest is Internet Marketing - Worked for many years in finance and banking. I now consult for small businesses and starts ups. Also involved in venture capital for new companies.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Sign up for our newsletter and receive a free EBook on how to boost productivity






Find it

Blog By

Small Business Consultant and Accountant helping grow your small business Read More…

Follow us online

  • Email
  • LinkedIn
  • Twitter

Recent Posts

Unlock Small Business Triumph: Your Definitive Guide to Success

Small Business Topics: A Comprehensive Guide for Success As a … [Read More...]

  • Why the F&B Sector Needs Streamlined Payment Methods – Business
  • The Rise of AI in Ecommerce Outsourcing – Ecommerce
  • The Benefits of Turnkey Tech Solutions for Forex Brokers – Business

Archives

  • December 2024 (1)
  • March 2024 (2)
  • February 2024 (3)
  • January 2024 (1)
  • December 2023 (3)
  • November 2023 (1)
  • October 2023 (3)
  • September 2023 (6)
  • August 2023 (1)
  • July 2023 (5)
  • June 2023 (16)
  • May 2023 (1)
  • April 2023 (2)
  • March 2023 (4)
  • February 2023 (2)
  • January 2023 (5)
  • December 2022 (5)
  • November 2022 (8)
  • October 2022 (7)
  • September 2022 (6)
  • August 2022 (6)
  • July 2022 (13)
  • June 2022 (11)
  • May 2022 (7)
  • April 2022 (8)
  • March 2022 (12)
  • February 2022 (8)
  • January 2022 (11)
  • December 2021 (9)
  • November 2021 (10)
  • October 2021 (11)
  • September 2021 (3)
  • August 2021 (10)
  • July 2021 (12)
  • June 2021 (5)
  • May 2021 (10)
  • April 2021 (17)
  • March 2021 (40)
  • February 2021 (39)
  • January 2021 (58)
  • December 2020 (66)
  • November 2020 (59)
  • October 2020 (34)
  • September 2020 (47)
  • August 2020 (37)
  • July 2020 (2)
  • May 2020 (1)
  • April 2020 (1)
  • March 2020 (33)
  • February 2020 (25)
  • January 2020 (20)
  • December 2019 (27)
  • November 2019 (28)
  • October 2019 (34)
  • September 2019 (38)
  • August 2019 (13)
  • July 2019 (44)
  • June 2019 (40)
  • May 2019 (58)
  • April 2019 (51)
  • March 2019 (43)
  • February 2019 (44)
  • January 2019 (43)
  • December 2018 (47)
  • November 2018 (43)
  • October 2018 (58)
  • September 2018 (44)
  • August 2018 (60)
  • July 2018 (49)
  • June 2018 (58)
  • May 2018 (54)
  • April 2018 (39)
  • March 2018 (46)
  • February 2018 (48)

Topics Covered

business consulting business growth business management business marketing business strategy business topics small business small business success small business topics

Biz Opps

[ad_1] Featured image by Blake Wisz on … [Read More...]

[ad_1] Are you looking for the best ways … [Read More...]

[ad_1] Featured image by … [Read More...]

Customer Focus

[ad_1] First published in Exchange, the magazine … [Read More...]

Entrepreneurs

[ad_1] Uptown Cheapskate is a resale … [Read More...]

[ad_1] A team of neuroscientists in the … [Read More...]

[ad_1] This article was translated … [Read More...]

Strategy

[ad_1] If you buy something through our links, we … [Read More...]

[ad_1] In helping celebrate Black History Month, … [Read More...]

[ad_1] ZOHO started its current Email Marketing … [Read More...]

Supply Chain

[ad_1] Although managing inbound shipping can be … [Read More...]

© Copyright 2015 iSmall-Business.net · All Rights Reserved · Powered by ISmall-Business.net · Admin