Tech entrepreneur Vic Bageria, who founded analytics firm Sàvant Data System, spent years pursuing failing business ideas before learning what it takes to make a concept viable. Now also a board member at global non-profit mentoring group Entrepreneur Organisation. Through his experience, he focuses on enabling, educating, and guiding regional entrepreneurs. Here, he shares valuable insights that enabled him to grow his business:
1. Ideas alone often hold little weight:
To start a business and become successful requires a key element – solving meaningful problems. Execution is everything. Being successful in business means dedicating yourself to becoming an expert in providing that solution.
2. It’s all in your head:
Business success is about mentality, psychology and determination. Explore, go the extra mile and push your limits to discover tips, tricks, and hacks in the marketplace.
3. Don’t wait for a miracle:
You can’t afford to wait for funding, or you are leaving room for someone else to execute your plan. Making excuses will not help start a business, nor will it help create the lifestyle you want. Launch before you feel ready. If you wait for your product or service to feel ‘just right’, chances are someone else might have mastered it before you. So validate your business solution by launching fast, small focus groups to understand the flaws in your product or service. In other words, get feedback.
4. Connect, connect, connect:
Never stop building meaningful relationships with customers and others in your industry. Change your perception and view competitors as potential collaborators. Rather than looking to grow your company in the future, set and achieve incremental goals now.
Source: Arabian Business