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10 Essential Strategies for Starting a New Business

Updated: Jun 13

If you’re an entrepreneur trying to grow or start your business, keep reading…

Picture this: I was working from a clumsy bed tray with a weird hanging light, feeling pretty overwhelmed. I was about to go live with Leap Academy, but fear had me paralyzed.

Fast-forward three years, and we won the Startup of the Year award. We were invited to an award ceremony in New York for our impact and growth, and even had a few moments of glory on the NASDAQ tower. 

Today, my office looks very different. It’s been an incredible journey. And yes, the bed tray is back in the kitchen 😹.

Embarking on the entrepreneurial journey is a thrilling adventure filled with possibilities. Whether you're just starting or looking to take your business to the next level, understanding key strategies can make the difference between being 'just okay' and becoming truly extraordinary. Here are 10 strategies for starting a business that are essential to help you on your path to success.

Strategy 1: Clarity on Your Strengths and Value

Understanding your unique strengths and the value you bring to the table is crucial. This clarity not only boosts your confidence but also helps you communicate your worth effectively to potential clients and partners. Reflect on your skills, experiences, and passions to pinpoint what sets you apart from the competition.

Strategy 2: The Psychology of Spending

To succeed in business, you need to understand why people spend money. This involves delving into consumer psychology, identifying what motivates purchases, and how emotions influence buying decisions. By tapping into these insights, you can tailor your marketing strategies to better appeal to your target audience.

Strategy 3: The Formula for Making Money

Making money in business often follows a simple formula: Identify a need, create a solution, and deliver it effectively. Focus on solving problems for your customers and providing them with tangible benefits. Ensure your pricing reflects the value you offer, and always strive to exceed customer expectations.

Strategy 4: Crafting a Converting Business Plan

A well-thought-out business plan is your roadmap to success. It should outline your business goals, strategies for achieving them, and metrics for measuring success. A good plan not only guides your actions but also convinces investors and stakeholders of your business's potential.

Strategy 5: Building Your Brand and Trust

Your brand is more than just a logo; it's the promise you make to your customers. Building a strong brand involves creating a consistent image and message that resonates with your audience. Trust is built through transparency, reliability, and delivering on your promises.

Strategy 6: Understanding Your Audience's Psychology

Knowing what drives your audience is key to effective marketing. Conduct research to understand their needs, desires, and pain points. This insight allows you to tailor your products, services, and marketing messages to better connect with them.

Strategy 7: Turning Followers into Clients

Your followers are potential clients waiting to be converted. Engage with them consistently, provide valuable content, and nurture these relationships. Use social proof, testimonials, and case studies to build credibility and encourage them to take the next step.

Strategy 8: Timing Your Actions

In business, timing is everything. Knowing when to launch a product, run a campaign, or make a strategic move can significantly impact your success. Stay informed about market trends and be prepared to act swiftly when opportunities arise.

Strategy 9: Business Logistics

Efficient logistics are the backbone of any successful business. From supply chain management to customer service, ensuring smooth operations can enhance customer satisfaction and boost your bottom line. Invest in systems and processes that streamline your business activities.

Strategy 10: Clarity on Your WHY and Business Mindset

Understanding your 'WHY'—the core reason behind your business—provides motivation and direction. A strong business mindset involves resilience, adaptability, and a willingness to learn and grow. Stay focused on your goals, and maintain a positive outlook, even in the face of challenges.

Ready to Elevate Your Business?

If you're ready to go from 'just okay' to extraordinary, I would love to give you the opportunity (for free) to schedule a chat with our team of experts who can help you get clear on how to take the first step. 

Remember, success is not just about hard work but also about working smart and staying true to your vision. Embark on your journey with clarity, confidence, and a clear strategy, and the extraordinary will soon become your new normal.

If you found this article interesting, please remember to comment, subscribe and share this post with anyone you know that might need our help to transform their career path.

Also tune in to our podcast “Leap Academy with Ilana Golan” to hear the career journey of some of the greatest leaders of our time: Apple, Spotify.

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