Entrepreneurs: I’ve worked with entrepreneurs for more than 25 years, and most of the successful ones have created and developed their products on their own and love being independent. “Being my own boss” is the answer I usually get when I ask them what they like best about being an entrepreneur.
But in fact, successful entrepreneurs are not Lone Rangers — which, for inexperienced entrepreneurs, should be regarded as a good thing. I’ve talked to more than 100 successful entrepreneurs over the past 10 years, and they frequently don’t have a lot of business management experience, don’t have any more money than the average person and typically have never tried to introduce a product before.
The key moment in their entrepreneurial process has been when they recognized their shortcomings and sought help from other people. That help is exactly what they need to succeed, and it can come in hundreds of forms, such as these:
A manufacturer willing to extend dating on orders
An industry connection who helps you fund your initial production run
A retailer who heavily promotes your product at its expense
You should think about the kind of help you will need right at the start, before you even begin to introduce a product to market. If you can prototype and make your product at home, you can probably survive on your own until you’re ready to sell. But most entrepreneurs have products that require a little more investment upfront, and they could go broke if they wait too long to get experienced advice. Not only that, but getting help early will prevent a lot of mistakes in creating your product, and this will help you save money for the crucial tasks that lie ahead.
Teaming Up for Success [Entrepreneurs]
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Succeed With Teamwork
