3 key pieces of advice for entrepreneurs who want to make it big | GHL Solutions

by | Jan 7, 2022 | Consulting Members, New Business | 0 comments

Dr. Christina Blanchard-Horan, is a serial entrepreneur and founder of Global Health Liaisons, and GHL Solutions.

It’s been a crazy journey, and I am glad to know that I have learned some important lessons along the way. Starting up can be tough, but here are three key pieces of advice for entrepreneurs who want to make it big.

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1 – Start Small & Grow Smart

Starting small and growing is the key to success. Research shows that businesses with a slow growth rate tend not only to make more money, but they also to have fewer problems associated with the expansion than their counterparts who try too quickly or are never able to expand at all in any capacity because of an early misstep like bankruptcy.

According to the Hartford, there are four stages of business development. Don’t zip through to the last stage!

4 Stages of Business Growth

  • Startup.
  • Growth.
  • Maturity.
  • Renewal or decline.

Many people consider the first stage of a business’s life cycle to be the riskiest. However, about 80% of startups with employees actually survive the first year, according to the U.S. Bureau of Labor Statistics.

Marketing strategist, Felix Rossknecht says, Slow Growth Thinking is Smartest. He says, “Slow Growth thinking is the attitude of taking the necessary time to build a repeatable, profitable growth framework, which is based on the fundamental metrics that will create the success of a business, rather than those that reflect the success of a business. “

So, how do you put this philosophy into practice? By starting small and growing your business in a smart way! This means that you should take the time to focus on your customer base, what services or products they are interested in, and how you can best serve them. You should also make sure that you have a solid plan for growth and expansion – one that is realistic and achievable. Trying to grow too quickly can be disastrous for any business, so it’s important to take things slow and steady.

So Start Smart – Start small and grow- Don’t try to do everything at once. You will only end up getting overwhelmed and frustrated with how hard things seem to be going. Instead, start by picking four daily goals, choose from among your highest priorities.

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2 – Hire Smarter People

Build a great team- a great entrepreneur knows how to surround themselves with talented people that can help them reach their goals. You don’t have to do it all on your own! Hire the best staff.

“Hire the best staff you can afford. If they’re smarter than me, then I’m in good company.”- This is something that has definitely been one of my business mantras over these past few years and it’s helped propel all aspects to success!

In the early stages of my two businesses, I was guilty of trying to do everything myself. This led to me feeling overwhelmed and not being able to move forward as quickly as I would have liked. These days, I know the importance of having a strong team behind me.

Then a wise man, my father, reminded me. “Nobody is an expert in every field.” Trust your experts and let them thrive. If you have people on your team who know their roles and perform well, you can’t miss your targets.

“It’s hard to compete with a team that is smarter than you are. The better their talent, the stronger they will make your company.” 

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3 – Make Mistakes Into Opportunities

Learn from your mistakes. Sometimes we make mistakes and it is important to learn from them. However, if you let your errors discourage or halt progress in achieving a goal then they will most likely happen again! So take what has been learned from each mistake so that future endeavors can go more smoothly

If you find yourself afraid of making mistakes, then it’s likely that your self-confidence has been affected by them as well. This can lead to a lack of motivation and confidence when trying new things or even taking on small tasks at work; which is why learning how not only to recognize but also avoid these negative feelings was such an important step for me!

Once I recognized my mistakes or that I was avoiding an activity because of my past experience, some mistake I’d made that had painful results, then then I can move on. Learning from my mistakes and applying the lessons as I move forward. Another way to take advantage of lessons from mistakes is to hire a mentor or professional service that can relieve the pressure in that area of your business.

Mentors Matter

Learn from mistakes – Mistakes happen all the time, don’t let them discourage you from continuing on your path towards success! If you’re just starting out, be sure to focus on building relationships with other entrepreneurs who can provide mentorship and support. It’s also important to find people who share your same vision and values; this will make working together much more enjoyable (and productive).

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Starting an entrepreneurial venture is tough. But the payoff can be huge and there are some important lessons in entrepreneurship that I have learned along the way, so I hope these tips help you on your path!

GHL Solutions

This blog post is by GHL Solutions, which includes a global community of entrepreneurs and small business owners who are committed to taking their businesses to the next level. Members come from all industries and backgrounds, but what unites them is their passion for entrepreneurship. Whether you’re just starting out or have been in business for years, GHL Solutions can help you achieve your goals. To learn more, visit our website at https://GHL.Solutions.

These are a few important pieces of advice that I have learned from my years as an entrepreneur. What about you? Have you had any successes or failures that you can share with us? Let us know in the comments below!

 

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