Today I have the pleasure of talking with Cindy Rodriguez, from Orlando Florida about startups, her podcast The Fierce Entrepreneur and what she has learnt through her entrepreneurial journey in the business world.
All entrepreneurs struggle with the same two things, time management and giving up control and it takes time to be able to come to terms with them and use them to your benefit.
Entrepreneurs understand the importance of networking. If you want to grow your business or promote your startup you've got to learn to not be afraid to reach out to people.
Business can be a very lonely place, and more often than not your friends don't quite understand what it is you do, so you need to network with other business people.
Travelling The Same Path
It's important to find others travelling the same path as you and you must be willing to share. The more we openly share with others the better it is for everyone.
It's import to have an abundance mindset, not a scarcity mindset.
What is a startup?
A startup is not like a traditional business. In a traditional business, you expect slow to moderate business growth over time. This doesn't mean you cannot have fast growth, but usually, the growth is steady and in an upwards direction.
A startup, on the other hand, has very high growth potential, but initially, there's nothing, followed by more nothing and then BOOM, there's a huge spike upwards. If you looked at it on a graph it's like a hockey stick.
When you don't have any sales history or product, potential investors are investing in YOU, therefore they have got to like and believe in you. Expect a lot of NO's in the beginning, but every no takes you closer to a yes.
The Shark Tank is a great show to watch to learn more about good and bad pitching.
When you get feedback from investors you've got to be prepared to make changes and sometimes you have to completely pivot and change the direction of your idea.
"If you're a startup and if you cannot get someone to give you money, you suck" - Gary V
If you're serious about startups you need to get involved in accelerator programs. At these workshops, you'll learn about business planning, competitive analysis and so much more.
A great idea doesn't mean it's marketable
Love your product, but only once you know there's a market for it. Loving your product will keep you fired up, but don't fall in love too early.
Cindy's software applications are currently going through Beta Testing, so they can fix bugs and perfect their processes. Going to market too early can damage your reputation.
Monday Morning Tip
Listen to a podcast, even if it's for just 5 - 30 minutes. The right podcast will get you fired up and help you to perform at your best.
Cindy's Podcast: The Fierce Entrepreneur
Powerful Product Customisation Tool - http://artistry.io/
FRIDA - https://dev.frida.ai/
It's No Secret Business Conference
17th and 18th August 2018. I will be holding a 2-Day business event in Cairns and this year's theme is 'Communication, Persuasion and Influence'. My Keynote Speaker is David M Frees from Pennsylvania, who was also my guest on Podcast Episode 2. Please visit my EVENTS page
First 16 Pages of My Book – It’s No Secret There’s Money in Small Business.