Creating a business from the ground up is challenging enough but things get harder when one is trying to break ground into a new or unfamiliar industry. That doesn’t mean that one should give up altogether.
Many entrepreneurs have succeeded in overcoming challenges to blaze into various fields like day trading to tech to real estate. Here are some tips they can impart for those who want to follow in their footsteps.
Knowing Needs & Working Around Them
The first advice comes from Duda CEO and co-founder Itai Sadan, who tells entrepreneurs to always be updated on the pulse of the industry they’re in. Not only that, but they must also be on the constant lookout for various ways they can innovate.
This is actually the process he and his co-founder went through as they were creating their first product. Noticing businesses’ need for an inexpensive way to build mobile-friendly versions of their official sites, the duo began developing something that will address just that. They eventually launched one of the first website builders designed for mobile browsing.
Understanding the Four Pillars
Meanwhile, award-winning broker Holly Parker shares an important advice her own mentor taught her about breaking into real estate: the four pillars. These include some form of mentorship from an already-successful agent, the want to please people, having outstanding knowledge of the product, and lastly, maintaining integrity. Putting these to practice helped Parker gain the confidence she needed to do the necessary work to succeed. She has reportedly made over $8 billion in sales and is now CEO of her own team at a top real estate firm.
Focusing on CX
Customer experience (CX) is the new hot topic in the world of business today and Torii CEO Uri Haramati has admittedly obsessed over perfecting it for his own SaaS management software company. This meant constantly making sure that his products give his clientele as much value as possible. Having a similar customer-centric focus would benefit entrepreneurs in other business areas as well.