Entrepreneur Mindset Tips - From A Long-Term Entrepreneur

by 30 Year Entrepreneur Veteran
(USA)

Here Are The Five Most Important Things I Have Learned In 30 Years Of Starting And Running My Own Businesses.

Below you have it, the secret to my success, the secret to bing a long-term entrepreneur.

Entrepreneur Mindset Tip One - You Need To Be Decisive.

You need to make a decision and move on to the next.

• You can't spend 20 minutes deciding what color to paint the door.


• Paint the damn door and move on.

If you get complaints, or your customer count goes down, it's perfectly fine to pivot.

• Don't get hung up on what's right.


• Just do what works.


• Always be willing to change your decisions if facts (emphasis on facts) prove your first decision wrong.

Entrepreneur Mindset Tip Two - Get Used To The Stress

You'll have a lot of it.

Overdue bills, bounced checks, customers that won't pay, dunning notices from the IRS, I've seen it all.

Success is dealing with the stress and not letting it give you a heart attack.

There will always be problems cropping up - your job is to make sure there are interesting problems and that you can come up with solutions to them.

This goes back to my first point about being decisive.

Entrepreneur Mindset Tip Three - Make Sure Your Spouse Or Significant Other Is On Board.

• Make sure they know you'll be working more hours with less money coming in.


• Talk about the money - share your cash flow worries with them.


• Don't isolate them, but make sure they're on your side.

My marriage ended due to my ex thinking that all businesses are boatloads of cash, with the owner only needing to stick his head in once or twice a day.

Don't make the same mistake I did.

Entrepreneur Mindset Tip Four - Make Your Product Good Enough, Then Tweak It Using Customer Feedback

You've probably heard a lot of talk about minimum viable product.

Make Your Product Good Enough, And Start Selling.

Your customers will tell you what needs to be improved.

• Build on their suggestions - after all, they're paying for it - they know what they want in a product.


• Don't just listen for refinements, but also listen if they want it delivered in a different format.


• Do they want monthly shipments?


• Do they want seminars rather than a book?


• Find out.





Entrepreneur Mindset Tip Five - Be Customer Focused




• Keep asking questions.


• You'll have another dozen product ideas when you finish this one.

Don't Pay Lip Service To It Like So Many Businesses Do.

• Go to Nordstrom's - see how they do it.


• Buy something on Amazon and return it - see how they do it.

Always Be Willing To Learn, And Always Focus On The Customer

It's going to be hard to swallow that $800 order, but is it worth losing a lifetime customer for $800?

I don't think so.

Figure out what a customer is worth in sales and profits to your business over their lifetime - you'll be amazed.

And don't stress too much - this is supposed to be fun, remember?