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Why Good Founding Stories Sell: Stories That Appeal, Stories That Relate

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It’s the most famous “founding” story ever told. Isaac Newton often told it himself. William Stukeley first published it. Voltaire popularized it.

In 1666, Newton was strolling in a garden in Lincolnshire when he saw an apple drop from a tree. The fruit fell straight to the earth as if tugged by an invisible force. (Subsequent versions of this story had the apple striking Newton on the head.)

That mundane observation seemingly led Newton to conceive the notion of universal gravitation, which explained everything from the falling apple to the moon’s orbit. Whether it was true or not, the apple episode probably motivated Newton. But, indeed, he did not arrive at his theory of gravity at that single moment, as is commonly believed.

Most Origin Stories Make a Good Yarn

Fast-forward three and a half centuries, from England to California. Today, the “Eureka Moment” narrative is a Silicon Valley staple.

Most founding stories would rather you believe that brilliant entrepreneurs came about the outstanding idea for their startups in an almost Moses-like manner. In reality, though, that’s not the real story of how some of our iconic companies began.

When eBay launched, it gained loads of fanfare by proclaiming that Pierre Omidyar and his fiancée built the “Auction Web” to buy and collect Pez candy dispensers on the nascent internet. According to Adam Cohen’s The Perfect Store: Inside eBay (2002,) eBay’s public relations manager Mary Lou Song fabricated that founding story in 1997 to interest the media.

Netflix supposedly stemmed when co-founder Reed Hastings racked up a $40 fine with a Blockbuster store for his overdue copy of the movie Apolo 13. Netflix co-founder Marc Randolph’s That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea (2019) debunks that origin myth. Although Hastings’s $40 fine inspired the process, it wasn’t the single “spark of imagination” that cooked up Netflix.

YouTube supposedly began when founders Chad Hurley and Steve Chen could not share videos of a 2005 dinner party in Chen’s San Francisco apartment. Everybody accepted the story until it was refuted by the third co-founder, Jawed Karim (who had been sidelined by Hurley and Chen.) Karim produced a prototype of YouTube inspired by HOTorNOT, a dating site that nudged users to upload photos and others to rate the looks of potential companions. Karim was particularly inspired by the concept of user-generated content versus website owners supplying the content. He set out to make a version of HOTorNOT with video. Chen later admitted that he embellished the dinner party story, which was “probably very strengthened by marketing ideas around creating a story that was very digestible.”

Facebook, first called FaceMash, was also inspired by HOTorNOT. Mark Zuckerberg and his dorm buddies created a website to post pairs of pictures from Harvard’s student community, asking users to rate the “hotter” individual.

Many Good Founding Stories are Just That—They’re Good Stories.

No company is ever founded in a single moment. Ideas evolve after assimilation and experimentation over several months, even years. It’s less interesting to say that things just develop, one idea building upon another. You won’t get as much publicity for rendering a normal-but-boring founding story.

If these mythic creation stories prove anything, it’s that people prefer a good story. People like a storyteller who’s more articulate than one who is accurate. Good stories move. Good stories lead audiences on a journey of the imagination.

Telling a Good Story is a Rehearsed Performance

Human beings are not transformed as much by statistics and facts as we are by stories. In All Marketers are Liars—The Power of Telling Authentic Stories in a Low-trust World (2005,) marketing guru Seth Godin says successful marketers don’t discuss features or benefits. They tell stories. Stories that readers want to read. And believe.

If humans were rational, we’d make judgments based on facts and statistics. But we’re not rational; we’re more convinced to act on stories, especially with emotional content. So the ability to tell a story well is a beneficial tool to add to your toolkit.

Idea for Impact: Those who can create and tell entertaining and exciting stories will have a marked advantage over others regarding persuasion. Learn to tell clear, commanding stories that make a good metaphor. Stories that appeal to emotion. Stories that relate. Stories that hold people’s attention. Stories that travel fast.

Where Empowerment Fails

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Empowerment—giving employees greater autonomy—boosts engagement and creativity. It builds job satisfaction and improves retention. However, the success of empowerment initiatives depends on the personality traits of the managers implementing them down in the trenches.

Middle managers who value behaviors like team orientation, collaboration, and respectful interactions are more likely to enable their teams to set their own goals and entrust them to complete tasks in their way. But many managers in hierarchical structures embrace a certain command-and-control reflex that gets triggered in positions of power. Empowerment means transferring power to someone else, something they loathe. The alpha dimension to the personalities of these managers ends up micromanaging and impeding the autonomy of those in their team.

Idea for Impact: Relinquishing control over others and trusting employees not to abuse that responsibility isn’t easy for most managers; it takes someone very self-confident and secure to discharge empowerment.

The “Adjacent Possible” Mental Model

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The “Adjacent Possible” consists of all those ideas that are one step away from what actually exists. One thing leads to another, and when you achieve an adjacent possibile, you may hit upon more adjacent possibles.

So exploring the edges can take you somewhere new that you can’t predefine. The adjacent possible is something that gets continuously shaped and reshaped by your actions and your choices.

Steven Johnson’s Where Good Ideas Come From: The Natural History of Innovation (2010) urges, “The adjacent possible is a kind of shadow future, hovering on the edges of the present state of things, a map of all the ways in which the present can reinvent itself.”

Johnson borrowed the conception from biologist Stuart A. Kauffman’s The Origins of Order: Self-Organization and Selection in Evolution (1993.) This book examines a fundamental law of evolution: how everything has to evolve one step at a time within its realm of possibility, which sits directly adjacent to its current position. Novelty isn’t an abrupt, isolated happening, but rather stem from the voyaging of what is adjacent or related to what already exists.

Idea for Impact: Start at the edge of what works. Then, explore the adjacent possibile space. You may just get to those streams of opportunities that lead to the next big thing.

You Never Know What’ll Spark Your Imagination (and When)

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Children find all sorts of unexpected ways to nurture their imagination. With uninhibited curiosity and creativity for fantasy, they can create and connect concepts without inner judgment. What children discover with their active imagination often molds how they see the world and fuels their dreams, as the following cases will illuminate.

Albert Einstein (1879–1955) hardly spoke until he was three. His delayed verbal development made him curious about ordinary things that most grown-ups take for granted—such as the nature of space and time. When he was five and sick in bed, Einstein’s father brought him a contraption that stirred his mind no end. It was the first time he had seen a magnetic compass. Laying in bed, Einstein tried waving and turning the little gadget in vain to trick it into pointing off in a new direction. He later wrote, “A wonder … this experience made a deep and lasting impression upon me. Something deeply hidden had to be behind things.”

Bertrand Russell (1872–1970) was born into a notable aristocratic family. His parents were progressive thinkers and atheists. They chose philosopher John Stuart Mill as Russell’s secular godfather. When Russell’s parents died when he was four, they designated in their will that their progressive friends should look after young Russell and bring him up as an agnostic. But his grandparents intervened, abandoned the parents’ stipulation, and raised Russell and his brother Frank in a strict Christian household. As an adolescent, Russell kept a diary expressing his misgivings about God and concepts of free will. He kept his diary in Greek letters so that his grandparents couldn’t read it. When he went to Cambridge, he bumped into many people who thought the way he did. He actively engaged in debates and discussions. When Russell was eleven, Frank introduced him to the work of Euclid, which Russell described in his autobiography as “one of the great events of my life, as dazzling as first love. I had not imagined there was anything so delicious in the world. From that moment until I was thirty-eight, mathematics was my chief interest and my chief source of happiness.” Russell became the 20th century’s most important agnostic, philosopher, and mathematician.

Ansel Adams (1902–84) had a difficult time in school. An unruly boy, he was hyperactive and dyslexic. He was ousted from several schools. He later wrote, “Education without either meaning or excitement is impossible. I longed for the outdoors, leaving only a small part of my conscious self to pay attention to schoolwork.” His parents eventually gave up and began homeschooling him. When he was 14, they gave him two gifts: a Kodak #1 Box Brownie camera and a trip to Yosemite National Park (the National Parks Service had just been established.) On that family trip, Adams was so captivated by the charm of the mountains and the woods that he would revisit the park every summer for the rest of his life. Adams began experimenting with cameras, solidifying a lifelong connection between his two passions—photography and the natural world. He set the gold standard for art photography in the 20th century. His extraordinary photographs of Yosemite and other wilderness areas became familiar to millions worldwide.

Idea for Impact: You never knew what would spark the imagination. Build your creative muscle. Emphasize effort over the results of creative endeavors and enjoy new experiences. Play. Wander. Rebel. Experiment. Challenge. Indulge. Question. Absorb.

From the Inside Out: How Empowering Your Employees Builds Customer Loyalty

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At a time when apathy and distrust are so endemic in many organizations, some companies have nurtured employee loyalty to create customer loyalty flourish. The following case studies will substantiate the cultivation of a positive work environment that prioritizes employee recognition and support invariably results in exceptional customer service.

The Nordstrom Way: Enabling Employees to Have the Freedom and Vision to Become Self-Directing

Nordstrom’s founders created a culture that prioritized a “worshipful relationship” with its luxury department store customers and empowered employees to do everything they could to please them. The Nordstrom Handbook emphasizes outstanding customer service and encourages employees to set high personal and professional goals, expressing confidence in their abilities. The company’s Rule 1 reads: “Use good judgment in all situations. There will be no additional rules. Please feel free to ask your department manager, store manager, or division manager any question at any time.” Nordstrom’s success is a testament to empowering employees and supporting policies prioritizing exceptional customer service.

Flying the Fun Skies at Southwest Airlines: Giving Employees the Freedom to Deliver a Great Brand Experience

Southwest Airlines achieved great success early on due to its committed and motivated workforce. Founder Herb Kelleher recognized the importance of prioritizing employee satisfaction to create a culture of caring for one another and providing excellent customer service. Kelleher famously said, “The business of business is people—yesterday, today, and forever. If the employees aren’t satisfied, they won’t provide the product we need.”

To create a positive work environment, Southwest Airlines encouraged fun among its employees, setting it apart from other airlines that were considered dull and unappealing. Celebrating employees and their families is deeply ingrained in Southwest Airlines’ culture, and it is evident in the prominent display of pictures capturing these special moments throughout their office spaces. This people-centric culture helped the company attract and retain talented workers passionate about their jobs and provide top-notch customer service, which made flying with the airline a fun experience. Despite the potential cost savings, Kelleher remained committed to celebrating employees with parties, banquets, gifts, birthday cards, and outings, citing the value of having the fewest customer complaints in the industry.

Beyond the Call of Duty: Ladies and Gentlemen Serving Ladies and Gentlemen at Ritz-Carlton

The Ritz Carlton is renowned for its exceptional customer service, with the empowerment of employees being a critical factor in their approach. The company’s philosophy of “Ladies and Gentlemen Taking Care of Ladies and Gentlemen” highlights the importance of treating customers and employees with respect and dignity. Regardless of their rank and title, employees can spend up to $2,000 per day per guest without seeking supervisor approval to solve problems and deliver personalized and unforgettable guest experiences. This approach may seem costly, but it empowers employees to use their judgment to create memorable and personal experiences for guests. One of my friends enjoyed staying at a Ritz-Carlton hotel a few months ago, where he ordered a burger and a milkshake. Unfortunately, the hotel did not offer milkshakes, so he settled for a glass of water. However, to his amazement, the waitress surprised him with a milkshake to accompany his burger. She went the extra mile without being prompted by scouring the kitchen for milk, ice cream, and cold milk to create the shake.

Idea for Impact: Empowering Employees is a Strategic Approach That Yields Significant Benefits

Empowering employees goes beyond providing the necessary tools and training; it fosters a culture of trust, autonomy, and ownership.

How you treat your employees directly impacts how they treat your customers. When you prioritize making your staff feel appreciated and supported, they are more likely to provide exceptional customer service. A positive work environment can foster innovation and creativity within your organization while attracting and retaining top talent.

Sock Success: How THORLO’s Customer Focus Led to Big Wins

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Jim Throneburg made socks. Innovative socks. “Activity-specific” padded socks. THORLO, his family-owned sock manufacturing company based in Statesville, North Carolina, is known for its innovative padded socks for various activities such as running, hiking, walking, skiing, and more.

Throneburg’s innovation didn’t come from a flash of genius but from a personal experience. In 1953, Throneburg founded THORLO after seeing his father suffer from foot pain caused by poor-quality socks. He started selling socks out of the trunk of his car. As the quality of the socks gained recognition, the company began to expand. In the 1960s, the product line expanded to include socks for hiking and mountaineering, and in the 1970s, THORLO developed a specialized padding system that could be customized for different activities.

In the late 1970s, Throneburg realized that as the function of shoes changed, so should the design of the socks that complemented them. Drawing from his experience at a weight-loss clinic where he needed thicker-soled socks, he transformed Throneburg Hosiery Mill from a commodity business into an innovative sock manufacturer that became THORLO. He invested in new designs, yarns, and technology that he had perfected, making padded socks for the military. The company has since created dozens of sport-specific sock varieties.

THORLO’s R&D happens where the foot meets the sock and the shoe, addressing everyday problems ordinary people face. Throneburg developed a ladies’ rolltop sock for golf and tennis after a woman golfer complained about her socks slipping down. When a man with a rare foot condition found relief from THORLO’s socks and asked if Throneburg could make socks for his young daughters, Throneburg forwarded the request to product development.

Throneburg held more than 25 patents in the United States and internationally, and he was one of the most prolific inventors in the sock, insole, and shoe industries. His success demonstrated that innovation does not require a flashy tech startup or a billion-dollar budget.

Idea for Impact: Innovation could happen anywhere and at any time. It was not just about new products or cutting-edge technologies but about seeing things differently and understanding customers’wants and needs.

Wide Minds, Bright Ideas: Book Summary of ‘Range: Why Generalists Triumph’ by David Epstein

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'Range' by David Epstein (ISBN 0735214506) Range: Why Generalists Triumph in a Specialized World (2019) by science journalist David Epstein challenges the notion that specializing in a narrow field from a young age is the best way to achieve success.

Epstein argues that groundbreaking ideas don’t typically originate from a single individual or function but rather at the point where different skills (or people) intersect. He suggests that individuals with a broad range of interests and skills, or what he refers to as “generalists,” are better suited to tackle complex, poorly defined problems than those who specialize early and narrowly. These generalists not only possess the skills to solve complex problems but are also more comfortable with volatility and unpredictability and can construct compelling narratives of the future.

Epstein presents subjective evidence from various fields, including sports, music, and science, to illustrate how people with diverse interests and experiences tend to have more creativity, flexibility, and adaptability in problem-solving.

Generalists vs. Specialists: The Battle for Expertise Recommendation: Quick read Range. Epstein’s anecdotes often present a universal view in favor of generalists. Without adequate empirical evidence to support his claims, his hypothesis favors, at a minimum, sampling a variety of interesting fields before committing to a particular specialization.

The most coveted jobs today are in complex and unpredictable fields, requiring employees to have broad and flexible knowledge. Moreover, in a world where people are inundated with information but crave wisdom, there’s a pressing need for synthesizers who can gather the right information, think critically, and make informed decisions.

5 Ways to Improve Your Quality of Life and Make a Positive Impact

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Are you feeling stuck in a rut with no idea how to positively impact your life and environment? Do you feel like bigger changes need to be made but don’t know where to start? Then look no further—we have the perfect solution for you.

We will explore what small steps can help improve your quality of life while providing methods that could make an overall positive difference in society. Read on to learn how to take control of your life and simultaneously create meaningful change!

1. Eat healthier foods and focus on portion control

Eating healthy meals will give you all the essential nutrients your body needs to stay strong and energized throughout the day. Additionally, eating smaller portions allows you to manage your weight better and prevent overeating.

Furthermore, it gives our bodies all the vitamins, minerals, proteins, carbohydrates, and fats needed to function properly. When we don’t get enough of these essential nutrients from our diet, our bodies suffer from chronic diseases such as obesity, diabetes, heart disease, and even cancer.

Therefore, you must learn about proper nutrition to make informed decisions about what you put into your body. Committing to eating healthier foods and focusing on portion control also positively impacts your mental health. Eating healthy offers the following benefits:

  • Improve your mood
  • Reduce stress
  • Maintain energy levels throughout the day.

In addition to savoring each bite slowly while you eat, use decals or visual cues on your plate to remember the correct portion sizes. This will ensure you are getting the right amount of food without overeating.

2. Take time to practice self-care activities like yoga, meditation, or journaling

Self-care is an important part of any healthy lifestyle. Activities like yoga, meditation, and journaling can help you better manage stress, become more mindful of your thoughts and emotions, and cultivate inner peace. Not only do these activities benefit your physical health, but they can also positively affect your mental health.

  • Yoga is beneficial for both the mind and body. It combines stretching and breathing exercises to improve flexibility while calming the mind with relaxation techniques. Regular yoga practice has been linked to better sleep quality, reduced anxiety levels, improved mood, increased focus and concentration abilities, and a stronger connection between mind and body.
  • Meditation helps you slow down and focus on the present moment. It can help quiet the mental chatter that often causes stress, anxiety, and worry. Regular meditation can improve mental clarity, reduce stress levels, enhance creativity and insightfulness, increase self-awareness, and improve emotional regulation.
  • Journaling is a great way to work through thoughts and feelings that you may be struggling with. Writing out your thoughts provides an avenue for better understanding yourself so that you can move forward towards healthier behaviors and choices in life.

3. Show kindness to yourself and others

Show kindness to yourself and others, starting with how you talk to yourself. Be mindful of the words you say to yourself when making decisions or going through difficult times. Speak kindly and be understanding of your own needs and emotions.

Small actions can go a long way when showing kindness toward others! A simple smile or saying hello can make someone’s day. You can also do kind deeds for people in need, such as donating food or clothing or volunteering at a local charity.

Consider displaying decals that promote kindness around your home or workplace – this is an easy but effective way of ensuring compassion is top of mind for everyone around you! Being kind doesn’t have to take up lots of time or be complicated – just remember that a bit of kindness can go a long way.

4. Get plenty of sleep to keep your mind and body functioning optimally

Getting an adequate amount of quality sleep is essential not only for your physical well-being but also for your mental and emotional health. Your body needs time to rest and restore to function optimally, and a lack of sleep can have severe consequences for many aspects of life. Not only can it lead to poor performance at work or school, but it can also affect relationships with loved ones.

Sleep deprivation has also been linked to a host of medical issues, such as:

  • Obesity
  • Cancer
  • heart disease
  • Stroke
  • Diabetes
  • Depression
  • Anxiety

It can weaken the immune system making you more susceptible to colds and other illnesses. That’s why if left unchecked can lead to severe exhaustion, impacting your ability to focus and concentrate on tasks.

5. Exercise regularly for better physical health and mental well-being

Exercising regularly can make a positive impact on your overall quality of life. Not only will it help to improve your physical health, but it can also benefit your mental wellbeing.

Regular physical activity can reduce stress and anxiety, improve mood and sleep quality, increase energy levels, and enhance cognitive functioning. It can also help to prevent or manage certain chronic diseases such as obesity, heart disease, diabetes, and high blood pressure.

Moreover, exercise is one of the best ways to boost self-confidence. As you become stronger physically and mentally through regular workouts, you’ll find that you have more motivation and discipline in all areas of life. You can lead a more active and balanced lifestyle by making time for yourself to take care of your body and mind.

You only live once — make it the best life possible

You can make a real and positive difference in your quality of life through the right combination of tweaks and changes. From prioritizing regular physical activity to taking steps to build meaningful relationships, there are many areas of your life that you can change for the better.

Moreover, setting reminders and practical goals can help propel you toward success. If the thought of making these changes is overwhelming or intimidating, take advantage of friends, family, or communities who are here to help provide guidance and support along the way.

Remember, investing in your quality of life is essential, both for yourself and those around you. Everyone deserves to live their happiest, most fulfilling life. By committing to these tips and making an effort to improve your quality of life, you can positively impact yourself and those around you.

5 Uses for Artificial Intelligence in Software Development

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5 Uses for Artificial Intelligence in Software Development

There is no secret that automated machine learning is taking over every industry. AI can save a lot of time and money for businesses. So, you can spot more and more automated processes everywhere. Naturally, it raises some controversies. The most common one being the replacement of human intelligence. But it’s also hard to deny its beneficial uses.

Software development is no exception here. Everybody can agree that AI cannot replace developers. Yet, it can help them immensely in their job.

Increasing Efficiency in the Development Process

The biggest change in software development brought by AI is the increased efficiency of the whole process. Of course, as with writers who are often sought after for “pay for essay” services, AI cannot replace developers. Complex codes cannot be done by a machine. Yet, the major role of AI in software development changes the whole role of a developer.

Developers are focusing on improving the code. Meanwhile AI deals with lesser and more technical tasks. Thus, a developer and AI end up writing code “together” in a way. The cycle of development gets shorter, but the end product does not lose quality. Human intelligence still supervises the process.

Enhancing Quality Assurance

Another thing that becomes more efficient with AI is quality assurance. QA work is quite a demanding and error-prone task. Besides, it requires more technicality than creativity. Thus, it’s taking more of developers’ efforts and time, increasing their workload.

Luckily, AI can tackle this problem. It can help analyze and notice issues with software right away, while before you could only wait for problems to arise. Plus, more versions and scenarios can be tested at the same time.

5 Uses for Artificial Intelligence in Software Development

Improving Estimates

Developing a budget and timeline for a project is also a developer’s task. But it’s much easier to come up with precise estimates using AI. It can analyze the data for the development of exact software and go through the same calculations for previous projects. Thus, it can come up with the most relevant and precise data.

Collecting Users’ Real-Time Feedback

Finally, AI can improve gathering users’ feedback. A continuous feedback loop will help boost the user experience.

This way, there is more room for creative solutions on the developers’ side. Just like professionals at the best assignment services deal with more daunting papers while you concentrate on more demanding essays. As AI takes on all the technical and tedious tasks, you can focus on coming up with ideas on how to fix on-page elements that do not work as intended.

Wrapping Up

And that’s about it. Artificial intelligence can be a significant asset in the software development process. For one, it accelerates the whole development by taking on more technical and daunting tasks. Thus, a developer has more time to focus on more complex and creative sides of the process.

AI also helps enhance quality assurance with the possibility to automate the whole thing. Thus, it makes searching and fixing errors easier and more efficient as well. AI can also be an asset for a more accurate budget and realization of product planning. Finally, artificial intelligence helps a lot with real-time feedback and improving user experience.

Seven Tips for Becoming a Successful Entrepreneur

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Seven Tips for Becoming a Successful Entrepreneur

Entrepreneurs have changed the entire landscape of the business sector. With their innovative strategies, new-age solutions, and enthusiastic attitude, entrepreneurs have brought about a mindset shift in the industry leaders and consumers.

While many youngsters aspire to join the ranks of entrepreneurs, only some turn their dreams into reality. After all, regardless of how glamorous the entrepreneurial life looks from a distance, it requires nothing short of everything you have. Blood, sweat, and timepave the way to a successful entrepreneurial venture.

Is Entrepreneurship for me?

We want to make an idealistic statement, such as entrepreneurship is for everyone and anyone. Unfortunately, that’s all such a statement would be – idealistic. While today’s business environment allows everyone to dip their toes into entrepreneurship, some innate qualities are required in a person to survive as an entrepreneur.

Above all else, entrepreneurs must be motivated, dedicated, persistent, and thick-skinned. The road to entrepreneurship is often long and grueling,lined with failures and criticisms. The ability to not let such things weigh one down and soldier on against all odds make for a successful entrepreneur.

Tips for Becoming a Successful Entrepreneur

No set rulebook guarantees success as an entrepreneur. However, with the right preparation and guidance, you can increase your chances of success. If you’re up for the challenge and want to start right, here are our top tips for becoming a successful entrepreneur.

1. Learn the Ropes

The first thing you need to do before starting on this journey is to learn the essential skills that are required to run a business. One way to do that is to enroll in an online executive MBA program to help you understand the basics of marketing management, strategic planning, and accounting. An MBA degree makes up for the skills acquired through experience and can contribute greatly to entrepreneurial success. The best part about opting for an online MBA is that you can study remotely at a flexible pace. This way, you can also focus on building your business alongside learning all you need to succeed.

2. Make a Business Plan

The business plan is the holy grail for a businessman. It is the physical, attainable, organized manifestation of their lifelong dream. Therefore, developing a strong and coherent business plan is important before starting out. A business plan covers all the fundamental aspects of running a business, such as the business model, an industry analysis, the target market, the leading competitors, and an operational plan. Some things require you to do homework beforehand, such as thorough market research. However, having clarity on these ends will help you immensely in the initial days as you will have an organized guidebook to turn to.

3. Start Low-Risk

Entrepreneurship is as much about being smart as having the right skills and knowledge. In entrepreneurial ventures, external funding usually comes in during the first few years. Due to this, entrepreneurs often tend to take on excessive development and expansion projects. While this is a good way to grow a business, in the initial years, it is best to avoid such aggressive techniques and minimize the risk you take. For instance, if you want to introduce a new product, you can start by offering a limited quantity online. It will help you gauge the market reaction and expected demand before you invest heavily in the product.

4. Find your Clan

A business is nothing without its people. For an entrepreneur, the team you lead is the biggest asset you hold. Find like-minded people who share your passion and drive. Focus on skills such as agility, creativity, and emotional intelligence, rather than fancy degrees and titles. It will help you find people who bring value to your enterprise. With the right people working for you who can handle their teams and functions effectively and efficiently, you can focus on your primary tasks without being pulled into unnecessary matters. Once you find your people and build your clan, success will only be far away.

5. Focus on Networking

Networking is essential for anyone working in the business sector. You need to build effective professional relationships inside and outside your industry. There are many benefits of having a strong network for entrepreneurs, such as having experts to turn to for advice and getting early information about new opportunities for business development. There are many ways you can build your network. If you’re an extrovert, you can attend professional networking events and seminars to meet individuals working in your industry. However, if having to mingle with strangers in a public event gives you anxiety, you can use social media platforms such as LinkedIn to connect with others.

6. Stay Updated

For entrepreneurs or professionals, staying updated is one of the most important things for success. Theories, ideas, and technology are all dynamic in today’s business landscape, and it is essential to learn and adapt to stand with the competition. Entrepreneurs mustremain updated on the latest industry trends and incorporate them into their business as and when practical. Entrepreneurs should also continuelearning to improve their knowledge and skills. It is, after all,a leader’s job to inspire and motivate their team.Hence, the better you are, the better your team will be.

7. Use Technology to Your Advantage

There is no count of the number of ways in which technology has made life easier for us. For businesses, technology has brought about a true revolution. Today, businesses can use social media to establish an online presence, which allows them to reach and connect with their potential customer base. Additionally, digital marketing, helps businesses grow immensely. Entrepreneurs can take advantage of many digital marketing techniques, such as pay-per-click advertising, e-mail marketing, and search engine optimization. By using these low-cost tools, entrepreneurs can grow their businesses at an affordable cost.

Final Words

For aspiring entrepreneurs, the road is long and hard. However, the reward at the end is just as great. With the above tips like leveraging technology, staying up-to-date, improving your skills, focusing on building your network and finding the  right people for your team, you can all but ensure that your entrepreneurial venture will be a success.