The biggest danger for any business owner is in falling in love with the idea for your business before you know if your prospects and customers will actually love it.
This article called How I Grew My Company From $100 to $400 Million by Hayes Drumwright is a great, practical example of how to avoid this.
And in the process, you’ll see how by overcoming this common danger Hayes was able to build a very successful company.
Read the article below…
“Before launching my current startup, I started a company called Trace3 with $100 and grew it to over $400 million in revenue. Certainly, Trace3 has been successful as a technology consultancy and reseller, but I didn’t start the company to get rich quick.
“You too need a different reason for starting your business. If you want it to impact a market or even just have longevity, your business at its core must wage a constant battle to find the truth. And for a business, “the truth” means value. As an entrepreneur, you should be spending every day getting to the core of what “value” means to your customers.
“Your job is to build a venture that will search for real value and “the truth” of what your client really needs.
Separate people’s goodwill from the truth.
“When you are getting ready to launch a new venture, you should find five potential customers and talk to them about the concept, product or service — whatever you are about to bring to market…”