Main ideas of one entrepreneurial meeting

Yesterday five great entrepreneurs shared their ideas and experience on marketing, sales and communication. Here I'd like to quickly summarize them:

  1. Have enough time for the realization of your idea (at least a year).
  2. Be prepared for the worst.
  3. Have great sales professionals.
  4. Pay attention to product, price, place and promotion.
  5. Business plans need to sell the essence in a concise and well structured way, with good risk estimation and measures for risk avoidance.
  6. Know your competitors; diversify your clients.
  7. Define the company evolutionary through proactive product definition.
  8. Think global, act local.
  9. People buy the experience, not the product.
  10. Try to automate sales from the beginning (e-commerce).
  11. Get very good at selling, because it allows you to develop your company.
  12. Have an IPC—ideal profile of a customer.
  13. Know your whole business cycle—from outside appearance to distribution channels and clients.
  14. Communicate success to achieve an even greater success.
  15. Think about partners, stores and staff before you start.
  16. Companies fight for the same limited resources.
  17. "Stupid people learn from their mistakes, clever—from the mistakes of others."
  18. Ideas are good, but the execution determines their added value.
  19. Be confident and keep on moving!

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