After a career of product management in the musical instrument and professional audio industries, I decided to start a social marketing company in the heart of the recession in early 2009. Probably not the best decision I’ve ever made, but it finally worked out and I love what I do.
Of course, I can’t say this information will help you. But it worked for me, and I’ve never been happier.
Work With a Partner That Thinks Differently Than You Do
I can’t emphasize how important this was and still is for me. We all have specific ways of approaching everything we do in life based on our experiences and backgrounds. Even how we were raised affects our decision-making processes.
There are so many aspects to running a business. Working with someone who looks at challenges from a different point of view can be invaluable to your growth. My partner, David, is incredible in every way. We see things differently and sometimes passionately disagree, but having multiple perspectives has given us a huge edge as we problem-solve together with our COO.
Find a Trusted Mentor and Take Their Advice
I had an amazing mentor and friend who sadly is no longer with us. His wife (who is just as talented) still runs their business development company. One thing that always kept me going was that they constantly told me how much value I was providing to my clients and that I should stick with it. That gave me the confidence to continue to pursue my dreams even in the toughest of times, and there definitely were tough times. These wonderful people both taught me many things that helped guide me along my path. Find a skilled leader and take their advice.
When You Have a Big Problem, Work on It Exclusively
We’ve all seen reality shows where the business owners have been running a company into the ground for years. If you have a big problem, stop what you are doing and fix it immediately. No one will see your new web page or blog if your business isn’t around to create it.
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Remove the distractions, close your email app, take a walk and do some deep thinking. And when you get ready to take some notes, put on some pleasing, non-distracting music that gets your creative juices flowing. A 2017 study found that listening to happy music promotes divergent thinking. My personal “go-to” is Rachmaninoff’s Piano Concerto 2. Brian Eno’s Music for Airports is another favorite. I also like to get off the computer and make notes with markers or a pencil. For me, that also fuels creativity.
The Rolling Stone Culture Council is an invitation-only community for Influencers, Innovators and Creatives. Do I qualify?
Study Your Competition
Really, really, really study your competition. Don’t just go to their website and scan a few pages. Look at what they are saying, how they are saying it and who they are attracting. Sign up for their emails, look at their LinkedIn profiles and check out their social channels. Absorb it all.
Let’s say your dream is to open a record store. You see a small space for rent near a college in your town. Research other record stores and study everything about them. If you can, go visit record stores and get the vibe in person. If you do your homework, you can understand all the things your competition does to be successful. You might also find some things they don’t do that might give you an edge.
Work Really Hard on Your Value Proposition
I’ve saved the best and most important for last. When you study your competition, you’ll notice a glaring deficiency in most industries and businesses: they don’t tell you what they do differently and better. This part is crucial for success. Work very hard and dial in your different and better messaging so people are motivated like crazy to do business with you.
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And remember, competition is anything that detracts people from your business. Back to the record store example, your competition with college students is everything from food to transportation to tuition. So you better make your value proposition count!
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It’s Definitely Hard Work But It’s Worth It All
Building a business of any kind is not easy. You must work in the moment but be motivated by your future. And it does happen for many people every day. Keep your energy and drive and look forward to what can happen with determination and hard work.
When a business goes under, many people consider it a complete failure. Nothing is further from the truth. The things we learn along the way sharpen our skills for something new. So roll up your sleeves, jump in with both feet and get started. It’s an amazing feeling getting up every day and working on your next big symphony!
