Wow. It has been 14600 incredible days or four marvelous decades since I first became an entrepreneur after launching my first venture Seyforth Laboratories in 1975.
Though one could argue that I was always an entrepreneur. While in diapers, perhaps I had already had the hard-earned business acumen and the foresight to predict my perpetual role in developing a number of impressive and dynamic businesses. Perhaps I already knew that I would have a surplus of knowledge to share.
Seyforth Manufacturing (later re-named D&F Industries), Member’s Choice, The Right Solution, Extreme Research, One24, and Good Life USA/Global aren’t just successful businesses. These also enterprises and experiences were decided passion projects that offered a fine comprehension of business and a wealth of knowledge. I am a better business leader and innovator because of the important work that I did with these firms. Also, because of these businesses, I’ve learned what it takes to lead, maneuver and rescue a business.
I’m a fan of hard-work. It’d be downright impossible to be where I am in life if I didn’t believe in it. But, I also believe in smart work. I believe being a successful entrepreneur is being a master of countless moving parts, and seeing how you can command this movement within an industry. Any business is a multilevel faction involving a number of people, a number of projects and a number of goals. A wise entrepreneur will surround himself with smart, capable people who can contribute to the growth and present unique and intelligent ideas to help complement the business you’ve developed.
Some important entrepreneurial ideas were sparked by a desire to cater to the external. The need for cars, phones, television and computers came from a need to get places, communicate and to see things. However, other entrepreneurial projects were driven by self-reflection and understanding what the body needs and what it wants. The first step for and entrepreneur looking to develop a business or a product is to pause and gauge whether their focus is outward or inward. Then, identify who the target market is.
Focus on Your Market
You should feel free to create a number of enterprises, which span the width of any possible industry. However, understand the importance of focusing on your brand, your industry, and your identified market. By doing so, you accumulate a pool of dedicated followers or interested individuals who recognize you as a person of authority in your field. If you’re constantly switching industries, and failing to contribute to your prime field then you lose credibility. Of course, feel free to test your limits, but don’t alienate clients who are familiar with your work or your brand.