The world of business is one that generally revolves around an axis of careful planning, solid deliberation and careful execution in order to generate measurable results. For some of the most respected and largest brands within a given industry, this advice proves to be valuable and consistent, but only because their position allows for careful and measured responses. In the cut-throat world of entrepreneurs, rapid growth and expansion is the name of the game, and tough decisions have to be made rapidly. Blue Ridge Capital reviewed recently which specific characteristics are necessary for entrepreneurs to quickly take a big idea and make it into something even bigger.
The primary problem for business-related advice is that there are two different tiers of businesses, brands and entrepreneurs: there is the world for everyone who has already made it, and the world for everybody else. Joseph Sagradaca, Director of Blue Ridge Capital in Greenville, South Carolina, explains how emerging clients are advised. “Your idea either has merit or it doesn’t – there is no need to wait, plan and consider when the idea itself is untested”, he said. “By launching with the fewest resources needed, you avoid the massive mistake that comes with many failed endeavors in saddling yourself with excessive obligations that prevent many people from walking away when they should”.
Rather than dwelling on abstract, comprehensive business plans, success for entrepreneurs relies on an innate understanding of the marketplace, the current trends within it and who is the target of the efforts. Only after this is accomplished can any business plan begin to adequately address the issues that will be faced. Larger businesses have the leisure of wasting precious time crafting plans that do not pan out, but lean brands and entrepreneurs understand that time and resources alike are of the essence. In order to win big, quick and decisive action is needed from today’s entrepreneurs.
Lastly, Blue Ridge Capital recommends to new entrepreneurs that an innate focus on delivering and producing be put ahead of all else. While many marketing firms understand the need for proper promotion of products in the later stages, a fledging brand or entrepreneur must deliver to the people in basic fashion what it promises. If it is a product, then the product must be produced. If it is a service, then it must be delivered.This simple focus on delivering or producing what is necessary in order to seed the ground will ensure that entrepreneurs are able one day to enlist the services of a premier marketing solution like Blue Ridge Capital for their events needs.