The mindset of an entrepreneur always contains some core principles and values. But there are also things about the market that change over time and require new approaches. However, if you have those core principles and values in place, you’ll be able to handle anything the future can bring. Because the way to make a brand find it’s way into people’s hearts never changes. We asked Justin Cobb about some of the timeless principles that guide entrepreneurs.
The modern marketplace is saturated. There is no doubt about that. It’s very unlikely that your idea is completely new. Even if it is, you will need a lot of money to compete in the noisy, overpopulated marketing space. The right social media campaign can do wonders for your brand, but on the other hand, it might just as well be throwing money into the ether.
Instead of trying to create viral ad campaigns, and figuring out if your website has the right keyword density, try getting out into the streets and talking to some of your customers. If you care about the needs and desires of your customer base, then that will come through, and relationships will evolve naturally.
Everyone you talk to these days wants to be a ‘global brand’. To take over the world. But what they miss is that most global brands didn’t start that way, or even with that goal. Most of the brands that we know and love now, started small and with humble intentions. Only later when they gained success, did they expand. They expanded to meet demand. They didn’t try to make demand magically appear.
No matter what type of business you have, focus on your local customer base, and on making sure you build positive relationships and have genuine interactions. If you can become a legend in your local community, then the world is a small step.
In the fight to gain ‘market share’, many modern businesses are missing out on real connections. Nobody wants to deal with a business that makes them feel like just another number. Instead of focusing on volume, focus on being dedicated to the customers you have, and giving them the best experience you can. One loyal, happy customer, is better than ten customers who have no real reason to stay with your brand when they get a better offer.
Justin Cobb is an international entrepreneur, based in the US, with a network of companies spanning the globe.