SΩ18 - Slack Peek: Entrepreneur Q&A

In January the Society Ω Slack group was born. At first the idea was to give readers a space to ‘e-meet’, provide post feedback, and discuss ideas related to the blog. In just a few months it’s developed to more than that! This is largely thanks to the superb members who are eager to partake in all the wild conversations & ideas. We’re always happy to embrace new members, either contact me for an invite or join here.

The group has also evolved rapidly in the last few months. Our new purpose:

‘An open group promoting global collaboration to better the world 1 day at a time’

Furthermore we have 3 different opportunities for members:

Live - A place where regular live sessions take place centered on a pre-chosen theme

The Agora - Here members can have fun and relaxed chats about anything

Weekly Question - If a member is facing a challenge, needs answers, and/or suggestions they can ask here

In our latest lives session we had a Q&A with Patricia on entrepreneurship. Originally from Holland and now living in Barcelona she has a wide array of business experience ranging from working at Nike, having her own business consultancy, being vice president of mentoring at PWN, and much more. Here is a link to her current business and her linkedin. Without further ado, here is a glimpse at the Q&A.

 Peter:

If I’ve been an entrepreneur for years and have yet to earn a profit at what point should I reflect on my experience, accept defeat and move on?

Patricia:

If you’re not reaching your business goals and objectives in 2-3 years it’s time to reconsider your next step. If you’re unable to live your preferred lifestyle with your business, it’s also a good idea to reassess your situation. Just remember few businesses are an overnight success, many entrepreneurs and freelancers struggle in the beginning to get where they want to be.

It's difficult to let go of your dream. A good choice before doing so is to review your situation and challenges with a business consultant or mentor. Often all you need is some focus and a different approach. A fresh pair of eyes can help you see things from a different angle.

Jaka:

Do you have any pointers on how to set up a marketing strategy based on knowing who the target group is?

Patricia:

You also need to know who your competitors are. Many people forget to address how you are different from your competitors. You need to position yourself in front of your target market. My suggestions:

1. You need to understand how your competitors position themselves
2. You have to highlight what you do differently from your competitors
3.  You need to identify what customer needs are filled by your product or service
4. What is unique about your product/service, your location, etc. 

Jordan:

What are the best channels to put your advertising budget?

Patricia:

Again this depends highly on where your target customer is. If they are online, social media is a good choice. If they read a specific magazine, go there. If you’re big and need a large customer base than TV & radio are good. As people are overwhelmed with messages all around them make sure to be as targeted as possible. A good book to read in that regard is “Purple Cow” from Seth Godin.

Josh:

What's the best way to gain followers when first starting a twitter account for your business?

Patricia:

Identify your target group and find them on Twitter. Follow them and most people will follow back. Post content that interests your target group. A good way to start is posting similar content your followers tweet or retweet. Engage with your followers by talking to them, thanking them, liking their tweets, etc.

If this all sounds exciting to you, feel free to join us. Contact me for an invite or join here.