Santam is passionate about supporting and developing entrepreneurs – the drivers of a new economy. Through our 1001 days series, we’ve brought you lots of insights and advice from business owners who have made it through their first three years of business. Here is a collection of 10 of our all-time best pieces of advice to help you make it as an entrepreneur.
They’re risk-takers: Calculated risk taking and entrepreneurship go hand in hand. Entrepreneurs don’t apply to jobs, they create them. With that comes risk. Whether it’s the financial risk of starting your first brand or the risk from not knowing what to expect, business is risky. Entrepreneurs are often taking risks by trying things the average person won’t, to do things the average person can’t.
Tony is an entrepreneur, best-selling author, philanthropist and the nation’s #1 life and business strategist. A recognized authority on the psychology of leadership, negotiations and organizational turnaround, he has served as an advisor to leaders around the world for more than 38 years. He's also the author of five internationally bestselling books, including the recent New York Times #1 best-seller MONEY: Master The Game. Tony has empowered more than 50 million people from 100 countries through his audio, video and life training programs. Here's his business advice for aspiring entrepreneurs who want to start a business:
{grow} – Listed 5 out of 20 times, is a community to help businesses grow, from influencer Mark Schaefer, a renowned marketing and social media strategist and sought-after speaker at digital marketing workshops. Recent posts included: (i) The key decision in influencer outreach and why everyone is missing it, (ii) The business case for content marketing consistency, and (iii) How I make money: My 18 sources of online revenue.

Advice from other entrepreneurs and business professionals (such as lawyers and accountants) can prove to be invaluable. Consider putting together an advisory board, and don’t be afraid to motivate members by giving them stock options in your company. Read industry newsletters and startup publications like AllBusiness.com and Entrepreneur.com. Find mentors who can give you advice on hiring, product development, marketing and fundraising‎.
Analytics software exists to tell you how users find your site and what they do once they get there. By combing through the data, you can figure out which content resonates most with your users. Focusing on what really works can save time – but it means ensuring that marketing pros get weekly analytics updates and reports that help them turn insights into action.

Customers love to engage with brands and they really love it when a brand reciprocates. Take Wendy’s for example and the famous case of #NuggsForCarter. Carter Wilkerson tweeted at the major fast food chain and asked how many retweets he would have to get to receive a year of free chicken nuggets. Wendy’s replied with 18 million. Your brand doesn’t have to go all out like Wendy’s did, but replying to customer questions on social media platform is a sure way to put your brand above the rest.
For budding entrepreneurs, with the business in a very nascent stage, it is often difficult to create a user base or a customer base. This is because you are fresh off the boat and not many people know about you. This is the time to leverage your personal network, seek leads, and ask for recommendations. There is nothing wrong in asking for help from friends and family. That’s how every successful business has grown out of! Your friends can refer your products or services to their friends, colleagues, peers, etc. and you will land your first set of clients or users.
This type of consultancy is about pitching new ideas for advertising campaigns to potential or existing clients. It also involves assisting with creating effective advertising campaigns. Other tasks in this area may include providing recommendations for companies on how to deal with various audiences. For example, the best approach to get the attention of innovative and curious buyers may be significantly different than the approach you would use to get the attention of an average user.
Once you have decided what type of product you are going to sell, you need to decide where to sell them. Selling merchandise on Amazon or eBay aren’t your only options. Creating your own eCommerce store is another way to promote your products and generate sales. Once you have decided what you are going to sell, whether it is white labeled products, your own designs, or other people’s merchandise, you can set up an eCommerce website to display these products.
"Thinking that ideas are more important than teams. I hear a lot of first-time entrepreneurs tell me 'I have a great idea for an app; I just need to find a technical co-founder to code it.' But successful startups iterate their original idea constantly based on market feedback. Sometimes they even radically pivot like Paypal or Slack. Only great teams can do that, so the execution is much more important than the original concept. And it’s easier to change the idea than it is to change the team."
A popular tactic to make money on social media is to pay for advertising affiliate products. Create ads for particular affiliate products that are big sellers and have a high yield. Then target these ads at specific custom audiences to ensure your ads are viewed by those who will have an interest in the product you are promoting. If viewers click through your from advert to the product page and make a purchase then you will earn an affiliate fee.

"But if they really thought you had something brilliant, they wouldn't let you out of their sight. They're simply offering an excuse for not liking your company. Don't walk away thinking that the problem is that you just aren't a fit. You need to find out what's really wrong with your story. Don't count on investors to tell you. Get a few good, savvy mentors or advisors to tell you the truth."
“Focus, by definition, means narrowing your field of vision and attention. It means choosing which opportunities, projects, and even customers you’re NOT going to pursue. And it’s really, really hard. When I first started online, I was trying to do it all: podcasting, writing epic guides, blogging and I wasn’t doing any of it well. I realized that each time I jumped from idea to idea, I was diluting my efforts."
How much will you make? I think my best month with Google AdSense was almost $5,000 over the last ten years. That amazing month blew my mind since it was actually near the beginning of my blogging journey. When you go from making zero to $5,000 in a month, that will rock your world. For me, it also got me even more excited because I knew there were other ways to monetize.
If you have a propensity for writing and you can slay with your prose, consider writing an ebook. While the market has certainly become saturated as of late, books that help teach people about a technical topic still sell extremely well. This is a great source of passive income but does require a large amount of effort at the outset before any money is generated.
Brothers Chad and Troy McWhinney made themselves millionaires when they founded their own real estate investment and development company, McWhinney, in 1991 with the purchase of 440 acres of prime Colorado land. Since founding McWhinney, Chad and Troy have taken on over five million square feet of development projects throughout Colorado and beyond, partnering in the redevelopment of Denver’s historic Union Station, set to re-open 100 years after its original opening in 1914.
Almost every professional field requires this kind of research. Common types of data analysis include the following: regression, time series, panel data, experimental designs, factor analysis, principal component analysis, Bayesian analysis, etc. To find work as a statistical researcher, you may try the mentioned freelancer websites or simply set up your own and promote your services. Examples of the tools used to perform statistical analysis are Excel, Stata, MINITAB or Eviews.
Consider selling in lots. A lot is a collection of similar items that is sold in a group. For example, if you have a collection of books, magazines or similar pieces of jewelry, consider selling them all at once in a lot. You many not make as much money as you would have if you sold each item separately. However, the items will likely sell more quickly in a lot than they would individually.[29]
According to the U.S. Commerce Department, consumers spent $453.46 billion on the web for retail purchases in 2017, a 16.0% increase compared with $390.99 billion in 2016. That’s the highest growth rate since 2011, when online sales grew 17.5% over 2010. Forrester predicts that online sales will account for 17% of all US retail sales by 2022. And digital advertising is also growing strongly; According to Strategy Analytics, in 2017 digital advertising was up 12%, accounting for approximately 38% of overall spending on advertising, or $207.44 billion.
The quote above comes from a blog article on How to Create Content to Attract Your Target Market. Porterfield says that once you know your target market well enough, creating content for them becomes surprisingly easy. This holds true whether that piece of content is a social media post, video, image or blog post. The key to great content is consistency, because it’s one of the primary ways a brand earns trust and respect. Porterfield also recommends diversifying your content (blog posts, series of images, podcast) and opening the conversation with your customers. She says you can start the conversation by identifying a commonly asked question and writing a post about it, or reviewing your three most popular social media posts in the last 6 months and finding the common thread to elaborate on.
Has anyone ever told you you have a voice for radio? Are you great at creating original characters with just your voice? There are tons of people looking to pay for quality voice overs for their corporate videos, animation series, or educational videos. Check out Fiverr and UpWork or create a profile on a specialized site like Voices.com or The Voice Realm to get started making money online doing voice overs.
Take the time to do market research and really listen closely to your ideal client’s needs. Get really in tune with them to know where they're at right now: That is different to where you would like them to be. Take this intel and craft it into an irresistible solution for them to be able to get easier yeses in your business. - Penny Elliott, Pennycomins.com
This is the best digital marketing blog which offers strategies and tools to help businesses in boosting traffic and making the conversion to boost sales. These blogs are the great channel to get a comprehensive marketing education. The mastermind behind this blog site is Neil Patel a nationally recognized entrepreneur. His strategies and content speak for themselves. Lets bookmark the site so as to refer it from time to time.
Merch by Amazon is another service offered by Amazon that will enable you to make money online without any initial outlay. To get started you need to create an account with Merch by Amazon. Then simply design some T-shirt logos or slogans, and upload them to your Merch account. You will need to choose a T-shirt type, color, and price, and Amazon will create product pages for each T-shirt. When someone makes a purchase, Amazon takes care of production and shipping. And you are paid a royalty for your design. 

To date, she has sold hundreds of these books all because they help and encourage people. Her stories and the insight that she is able to offer readers are authentic and add value. In fact, if you want to check her out on her Amazon page, here’s the link to it. So,  if you’re passionate about writing and you’ve got something to share, I highly recommend that you give eBook writing a shot!
App Annie is the most trusted source for the latest in app news, data, and trends, and is cited by industry leaders worldwide. We love coming here to read what’s happening in the world of mobile apps to better understand where the money is headed next. In addition to their in-depth reports, App Annie offers free webinars on app store optimization and advice on how to be successful in the growing app economy.
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