- Don’t Be Scared to Fail: Embrace it and learn from it.
- Focus on Your Strengths: You can’t be good at everything, so focus on what you’re good at and delegate the rest.
- Get Comfortable with Being Uncomfortable: Change is inevitable, so get comfortable with it.
- Be Passionate: If you’re not passionate about your business, it’ll be very difficult to succeed.
- Persevere: When things get tough, don’t give up.
- Believe in Yourself: If you don’t believe in yourself, no one else will.
- Have Fun: If you’re not having fun, what’s the point?
As someone who has been living and breathing the entrepreneurial world since a young age, Pranav Arora has learned through experience what strategies work, and what don’t.
About Pranav Arora Businesses
Pranav Arora is a serial entrepreneur, investor, venture capitalist, and philanthropist. He is the CEO of Stunned Mind (An online store that sells a variety of novelty collectible products like coffee mugs, shot glasses, and blankets. A shop for those who identify as fans of Anime, Cartoons, TV, Gaming, Music, or anything in between), Chairman of JMTD IP Holding, and President of Kingsley products (The company is on a mission to be the world’s most trusted partner for Consumer Products Goods), Chairman of JMTD Funding (provides funds to help companies get on with the business of doing business without worry or pause) and many more.
He’s also learned from other entrepreneurs and business owners who have gotten it right, and he’s put together seven strategies to help you build your startup the right way from the start. Though all entrepreneurs are wildly different, there are some universal tips and tricks that can help any entrepreneur reach their goals.
These are strategies he’s used to running his businesses over the years. They’re valuable no matter what phase of your entrepreneurial journey you are in.
1) Communicate with your customers
In order to communicate effectively with your customers, you need to understand their needs and desires. This can be done through market research, surveys, interviews, and focus groups. Once you know what your customers want, you can then craft a message that resonates with them. This will help you build a strong relationship with your customers and keep them coming back for more.
2) Learn from others
You can learn a lot from other entrepreneurs, whether they’re in your industry or not. Reading books or articles, listening to podcasts, and attending events are all great ways to gain new insights. But don’t forget that you can also learn from the people around you on a daily basis. Pay attention to the way they communicate, handle customer service, and market their products. All of these things can give you valuable insights into how to run your own business.
3) Launch, launch, launch
You’ve probably heard the advice to just launch a million times. And there’s a good reason for it. Launching is one of the most important things you can do for your business. It gets you feedback from customers, helps you validate your business model, and gets you started on building a customer base.
4) Ask for help and don’t be afraid to ask
Asking for help is not a sign of weakness, it’s a sign of strength. It shows that you are willing to admit that you don’t know everything and that you are willing to learn. When you ask for help, you are also building relationships and networking. So don’t be afraid to ask for help, it could be the best thing you do for your business.
5) Invest in yourself
The most important thing you can do as an entrepreneur is to invest in yourself. You need to be constantly learning and growing if you want your business to succeed. One way to do this is to read books and attend workshops and seminars. But you also need to take care of your physical and mental health. Get enough sleep, eat healthy foods, and exercise regularly. Taking care of yourself will help you be at your best when it comes time to run your business.
6) Respect your competition but don’t fear them
It’s important to understand that no matter how good your product or service is, there will always be someone else offering something similar. What separates successful businesses from the unsuccessful ones is the ability to execute a well-thought-out plan and stand out from the competition.
7) Reward yourself when you succeed
A lot of people think that entrepreneurs are risk-takers. And while it’s true that they are willing to take risks, they are also very strategic. They know that in order to be successful, they need to have a clear plan and goals. But more importantly, they need to be able to celebrate their successes.