Times are changing! The opportunities we have today as entrepreneurs are incredible simply because of the Internet. We have so much available right at our fingertips! You no longer need a loan, a 5-year business plan, and expensive advertisements to start a business. With a good idea and a domain name, you can start a business and make it profitable a million times faster than you could just years ago. The Internet is rapidly changing everything! And trust me, you want to stay ahead of the game! You need to convert from an Old School Entrepreneur to a New School Entrepreneur. Because the people who don’t will fall behind without even realizing it…until it’s too late.
Blockbuster is a perfect example of this. They figured out that consumers were moving to video streaming instead of rentals a little too late. Or maybe they did figure this out, but they waited too long to act on it. Either way, Netflix quickly seized the opportunity, moved in, and captured the market.
It’s CRITICAL that you know what’s happening in your industry and here’s how:
If you feel like you’re constantly chasing to catch up with everyone else in your industry, or you’re working a lot harder to get the same results … it’s time to move!
As New School Entrepreneurs we must be aware of changes in the market. Listen to your gut. If you can sense that things are shifting or there’s something that has you thinking to yourself, “I need to figure that out,” then DO IT! Sometimes you have to slow down in order to speed up. You need to think like a New School Entrepreneur!
So, what are some characteristics of New School Entrepreneurs and how do you become one?
New School Entrepreneurs …
The Internet has opened up a crazy opportunity for us! It once took 5-7 years to successfully launch a new business. Not anymore! Like I said, you can quickly launch your product or service in today’s world with just a great idea, a domain name, and an action plan! Instead of hymning and hawing over a traditional business plan and starting your typical brick and mortar business, start thinking of ways you can turn your idea into a business you can build ONLINE.
- Stay up to date with social media.
Facebook used to be the be all and end all social media platform for business owners, but that’s no longer the case. You’ve got to pay attention to where all the eyeballs are going…and right now that’s Instagram. I can’t stress this enough: you’ve GOT to be building a platform on Instagram no matter what business you’re in! And the good news is, right now, you can do it so much faster than you can on Facebook or Twitter. Pay attention to what’s current in social media, because the early settlers on any social media platform – the people who are FIRST – are the ones that thrive.
- Understand the value of attraction marketing.
New school entrepreneurs hit social media hard and provide content, content, content for FREE. Build relationships FIRST. When you freely give information, share your knowledge and expertise, and truly help people, this builds trust and produces a group of followers that are loyal to your brand.
- Don’t try to do everything themselves!
There’s no quicker way to throw your life out of balance than trying to do everything yourself. And, in today’s world – it’s no longer necessary. Companies like oDesk® and Elance® make it extremely easy and affordable to outsource just about anything. If you’ve read any of my articles, listened to any of my trainings, or attended any of my seminars, you’ve heard me talk about delegation before. You already know how crucial this is to your business and life. But New School Entrepreneurs don’t just understand this, they IMPLEMENT it!
- Are you an Old School Entrepreneur… still laboring away to find customers and promote your products through traditional channels? Using the same social media sites and tactics you’ve always used? Working 80+ hours a week doing everything yourself? Putting your friends and family last?
- Or are you a New School Entrepreneur… interacting and building relationships through current social media platforms? Avoiding burnout by delegating and outsourcing as much as you can? Creating systems? Putting your family first and actually living your life?
If you haven’t made the switch from Old School to New School Entrepreneur yet, do it now! The opportunities we have today are endless! You can build a business so much faster than I did! Take a step back, evaluate your business, make a plan, and most importantly, START now!