As we sprint into a New Year filled with optimism and hope, we see new opportunities and businesses springing up everywhere. A husband and wife team pitched on Shark Tank asking $150,000 for a 5% share in their company to help them grow another simple, innovative product that enables you to step up and access the rooftop of a vehicle to secure your cargo - or dust off the latest round of snow.
While these entrepreneurs may seem like exception, they offer a lesson for business leaders and company owners who create more than 80% of jobs. Many factors are fueling the formation of businesses across many different industries, from Artificial Intelligence (projected to be a $13 trillion industry by 2025), to new generation technologies (5G, video, ecommerce), that are forging new frontiers.
What do successful marketers have in common? They follow these basic building blocks:
1. Recognize a need, based on personal exposure or experience.
2. Identify the target market.
3. Create and protect Intellectual Property.
4. Develop a business plan with a complete and honest assessment of your competition.
5. Execute the plan, with an eye and ear for where the market is heading to help adapt and expand.
What are you seeing out there?
If you are looking for more insight into how to launch a new business or market strategy, join me at the Grow Conference on Friday, Jan. 18 at Westchester Community College, and be sure to stop by the workshop on how to use your smartphone to produce high powered/high quality video to help market your business, hosted by our friends at Video SEO Pro.
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