5 Immutable Laws of Entrepreneurship…that we all wish were NOT!
Anonymous
I’ll make the bold statement that these rules are required in one form or another for successful entrepreneurship. HOWEVER, we can secure the ones that we need through hiring, outsourcing, and automations.
1. Entrepreneurship requires above-average SALESMANSHIP.
You (we) can create & ideate all we want to; BUT, how do you plan to sell it??
Salesmanship is the willingness and ability to make offers & close sales consistently.
How willing are you to make offers? Do you have a reliable sales conversion mechanism in place?
You can sell by phone, in-person, by text, by email, with webinars - however you like.
Yes, you want to help the world and you’re so noble for that; but, you are a salesman first. After all, business is about sales and revenue.
Sales requires clarity, confidence, understanding psychology, etc.
Even non-profit people know this old mantra: No money, no mission!
2. Entrepreneurship requires SPOTTING OPPORTUNITIES that others miss.
Good entrepreneurs have business intuition that average people don’t have. But, that intuition can grow over time, too.
By the way, if you find that you have special intuition or understanding that others lack about a certain thing, that is a God-given gift that could be a sign you should be focusing there.
Entrepreneurs are able to spot opportunities and understand how to monetize business models more intuitively than others.
3. Entrepreneurship requires SPEED-TO-MARKET.
Some people have this gift. It is a high bias towards action. They can have an idea and launch a corresponding offer within 72 hours.
I recently got an email from a creator that read as follows:
“A client tagged me on a FB post yesterday, so I made a course to teach [the thing], which is available for $27, and going up to $47 next week. Sign up HERE.”
She had a sales page with a walk-through video up in what felt like 2 days.
I saw the original post where she got tagged, so I knew it was true. Kudos to her!
You might also be seeing this in the AI writing software space. These offers are coming to market fast & furious. No matter how you feel about this content, you have to respect the people who spot opportunities and take action!
4. Entrepreneurship requires REPETITIVENESS.
You have to be ready to say the same one thing 1000 ways. Behind all of the things you do & create, there is probably a central, defining message.
We also know that people now need more touchpoints than ever to make a buying decision. I recently heard someone say that it now takes 9-21 points of contact for someone to buy from us.
So, where does that leave us?
Get ready to share that central message 1000x in different ways, in different places, on different platforms, using different media, and with different offers.
5. Entrepreneurship requires SHOWMANSHIP.
Showmanship ties back to your other favorite: salesmanship.
Showmanship is the ability to enthrall, entertain, excite, and entice.
It is the ability to whet the appetite for what you're offering.
Some people love this and others hate it.
Fortunately, there are many ways to skin this particular cat: everything from theatrics (hello, Sir Richard!), to being omnipresent, to having a stellar web-presence that does the enticing for you.
You get to choose. But, showing up and enticing is mandatory.
How would you rank yourself on these five requirements?
Salesmanship, opportunity-spotting, speed to market, repetitiveness, and showmanship?
How could you improve your performance on them? Do you resent them or happily embrace them?
Big Love!