In the words of educator Peter Drucker, “The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” How do you search for change and use it as an opportunity for business? How do you even start a successful business? All the questions could give you a headache if you think about them too much. Entrepreneurship is a tricky task that not all have mastered.
One of the best ways to learn is to hear from people who are where you want to be or have accomplished what you also want to accomplish. With entrepreneurs starting businesses left and right, not all of them are successful, but we have talked with the ones that are and asked them to share the biggest lesson they have learned on their business journeys. Keep reading to hear some of these lessons and learn from the experience of trailblazers in the entrepreneur community.
Find Your Niche
Chris Gadek is the Head of Growth at AdQuick, a business specializing in out-of-home (OOH) advertising platforms. Gadek learned this lesson through his time with the company:
“The biggest lesson I’ve learned can be summed up in three words: find your niche. Find something that is relevant but hasn’t been done before. For example, AdQuick specializes in out-of-home advertising, but we’re unique in this field because we build powerful tools for brands to plan, buy and measure their OOH advertising. Not many other businesses at all have gone in this direction, so when potential customers come across our business, they’re instantly intrigued. OOH advertising but with combined technology, OOH expertise and data? When they see that come up on their phone or in their inbox, their attention is immediately grabbed. Since we are such a niche company, we really don’t have many competitors. When competition does arise, our business still attracts customers the most because we are the pioneers in this area. Basically, to put it simply, find a niche that has yet to be explored, and go with it.”
Use Social Media to Your Advantage
Max Schwartzapfel is the CMO of Fighting For You, a business that is exclusively a personal injury law firm. He discovered the power of social media for expanding the business.
“Social media is absolutely everything when it comes to successfully starting a business. Sure, you can start a business without creating social media content, but it’s no accident that businesses all over the nation have hired thousands* of social media managers. Social media just works. All other forms of marketing and communication are becoming obsolete, and we can clearly see that the reach of social media is only growing. If any entrepreneurs are currently not taking advantage of social media for growing their businesses, what are you waiting for? You’ll see exponential growth and reach people on the other side of the world you would never be able to reach otherwise. If you’re not exactly tech-savvy, hire someone to help you with social media. They can help create content, write captions, schedule posts, research hashtags, create ad campaigns, and so much more.”
*Specifically, there are 26,725 social media managers in the United States, based on a study by Zippia. This highlights the fact that more and more businesses are relying on social media to expand their businesses.
Partner with Complementary Businesses
Karden Rabin, the Co-Founder of Chronic Fatigue School, is a strong proponent of teaming up with fellow businesses.
“We at Chronic Fatigue School love to team up with other businesses. We’ve done joint promotions, co-hosted events, invited other businesses to write blog posts on our website, and so much more. The key to doing this correctly, though, is to join forces with businesses that complement yours. They can’t be doing the exact same thing as your business. That just defeats the purpose of partnering with another business and can actually confuse both of your customers. Let’s take a business that specializes in teaching content creators how to make Instagram Reels, for example. That business is not going to partner with another business that teaches how to make Reels. Instead, they’ll partner with a business that sells adjustable phone stands or ring lights. That way, both businesses can benefit from the audience of the other, because if customers are interested in one of the businesses, they’ll be interested in a complementary business as well.”
Make Customer Service a Top Priority
Lastly, we talked with Cody Candee, the Founder and CEO of Bounce. He has found success in Bounce by focusing his efforts on customer service.
“I always like to remind myself that a business is only as good as its customer service. We at Bounce pride ourselves on our customer service. We try to be as quick as possible in getting back to our clients, and we are also very polite to them, even if they are not polite in return. A kind customer service rep says a lot about a business, and customers realize that. Of course, we can’t always respond instantly to every single message, since we don’t work 24/7. Because of this, we have to clearly specify what our working hours are. If a customer reaches out to us at 5:30 pm on a Friday, but we have written on our website that our hours are 9:00 am to 5:00 pm Monday through Friday, they’ll know that we won’t be getting back to them until Monday morning. Make sure to respond to customers kindly and quickly but also specify the hours during which you’ll get back to them.”
We hope this article was helpful in giving you some of the biggest lessons successful entrepreneurs have learned along the way. To summarize, make sure to find a niche that is unique but relevant, use social media – currently the most powerful marketing tool – to expand your business, partner with businesses that complement yours, and go above and beyond when it comes to customer service. By heeding the advice of these successful entrepreneurs, you too can experience the success and growth that these entrepreneurs have achieved.