20 Key Learnings from Savvy Entrepreneurs

20 Key Learnings from Savvy Entrepreneurs

Ever felt like you have so much to offer, yet no one knows you exist?

I've watched big influencers spark engagement with a single picture or word.
And — my authentic and thoughtful posts received little engagement?

I decided to try something different. I posted on Reddit and the results were astounding!

Here’s the story…

At first, my posts got deleted by moderators when trying to promote this newsletter.

It was frustrating!

But then, I took a tip from Twitter and optimized my approach. I asked Redditors to share their top entrepreneurial learnings. (view here)

Boom! Feedback rushed in and I couldn’t make it stop!
Be careful what you ask for…😁

Seriously, the comments started pouring in. I engaged with each person, and the algorithm loved it. It was like a wildfire — 800, 3000 then 78,000 views!

So what? (you may be thinking)

Well, it wasn't all about vanity metrics for me. It was about capturing real life lessons and inspiration (from real people).

Here’s the thing…

Entrepreneurs face obstacles almost daily. With persistence and adaptability — anything is possible! Les Brown taught me — Tough times don't last, but tough people do! 💪

Would you agree?

Before you go, I analyzed over 180 comments of feedback and here are a few highlights.

20 Key Learnings from Savvy Entrepreneurs

1. Embrace Opportunities in the Market

Forget about the idea of a "saturated" market. Instead, see it as an indicator of validated demand and potential profitability. Learn from competitors and iterate on their concepts to offer something unique and valuable.

2. Timing is Everything

Being the first mover in a market might not guarantee long-term success. It's often wiser to let someone else blaze the trail and then improve upon their model, using their validation of demand as a foundation.

3. Smart Hiring and Business Growth

Hiring should be done with a clear focus on scaling your business, not just for appearances. Every new team member should contribute directly to the bottom line and help achieve your business goals.

4. Don't Rely on Friends and Family

While support from loved ones is essential, don't depend solely on them to sustain your business. Prioritize building a client base, as they can become your best supporters and promoters.

5. Work Smart, Be Positive, and Ignore Negativity

Work efficiently and believe in yourself. Surround yourself with positive influences and avoid letting negative people bring you down.

6. Focus on Generating Revenue

Value comes from what you sell, not just from creating something. Always prioritize making money and developing strategies to increase your profits.

7. Manage Your Cash Flow Effectively

Maintain control of your finances by manually managing subscriptions and transactions, ensuring that you never lose money to unnecessary expenses.

8. Choose the Right Leader

When investing in a business, bet on the person leading it, not just the idea. A strong, capable CEO can turn a simple concept into a flourishing enterprise.

9. Listen to Your Gut

Develop a "gut feeling" for business decisions, and trust it. Sometimes, instinct and intuition can guide you better than any business book or advice.

10. Not Every Opportunity is Right

Evaluate each opportunity and customer carefully to ensure it aligns with your business's goals and profitability.

11. Embrace the Kermit the Frog Philosophy

Maintain a creative vision, be humble, acknowledge the strengths of your team, and attract diverse and talented individuals to help you manage and grow your business with kindness and sincerity.

12. Value Smaller Sales and Jobs

Don't underestimate the power of smaller sales; they can significantly impact your overall income. Balance your focus on high-dollar projects with continuous smaller revenue streams.

13. Take Action and Look for Success

Be proactive in identifying what works for your business and quickly take action based on valuable data and feedback.

14. Embrace Competition

Don't be intimidated by a crowded market. The high number of competitors can signify a strong demand, and with creativity and differentiation, you can carve out your own niche.

15. Believe in Yourself and Stay Positive

A positive attitude and self-belief can carry you through challenging times and keep you motivated to achieve your goals.

16. Prioritize Results Over Perfection

Don't get stuck striving for perfection. Completing and launching your product or service in a timely manner is more important than perfection.

17. Pay Attention to Ownership

Build your business around assets and products you own, avoiding dependency on others' resources or platforms.

18. Focus on Valuing Your Team

Treat your team well, compensate them fairly, and tie their success to the company's success. Happy and motivated employees can contribute significantly to your business growth.

19. Avoid Risky Ventures

Be cautious about building businesses that heavily depend on external factors outside your control, such as platforms, property, or clients.

20. Finish What You Start

Remember, "done is better than perfect." Finish projects in a timely manner instead of getting stuck in pursuit of perfection.

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I don’t know exactly where you are on your journey, but I share words of encouragement, lessons learned, and ideas to help you grow your business.

If you find value here, please share this newsletter with a friend. Deal?

❤ Rudy

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Thank you for taking the time to read today's TechPreneur Newsletter. I hope the information was helpful and inspiring. As always, I'm here to support you in your business journey, so please don't hesitate to reach out to me on Twitter at @rudybanx Keep striving for success!

Until next time!

~Rudy

P.S. - share this newsletter with family and friends.