Featured Business Advice: Dima Elissa, Chief Executive Officer, Founder, VisMed 3D
Entrepreneur Dima Elissa share practical tips for entrepreneurs when starting their business. Check out the video, tips and resources below.
1. TIME KILLS ALL DEALS – AND OPPORTUNITIES – Execute, execute, execute. The learning from trying different things is what informs you, quickly. The art of iteration and pivoting is what gives you the advantage in conquering your market opportunities.
2. YOUR NETWORK IS YOUR NET WORTH – YOU CAN’T DO IT ALONE – Build a network of trusted friends and colleagues to help you in areas that compliment your skills. You can’t know everything or everyone, so get out there, network, meet people build a cadre of expertise across every area of business, marketing, finance, promotion, operations, funding, etc.
3. BOOTSTRAP ‘TIL IT HURTS – Figure out how to balance cash flow to live while expending as much time to pursue your passion project. IT’s a risk reward equation. He who owns the risk, get the most rewards. The more ownership shares you can keep in your favor, and build or grow organically, the better poised you will be with your innovation or business to know when the time is ripe for investment dollars.
4. ORGANIZE INTRO MEETINGS INTELLIGENTLY – So everybody wants to get 5 Minutes with you. We all get request to meet people, from prospective vendors to colleagues and investors. BE SMART ABOUT YOUR TIME — Find a regular weekly slot that is able to bring in those folks for an initial meeting, if possible in a more social cadence so you can evaluate whether more of your time is necessary. I use happy hour every Friday to invite people all at once, so I’m vetting them for further interest. This protect my most valuable resource. TIME.
5. GET FREE PRESS – SELF PROMOTION IS A MAGIC POTION. – Try to get visible. As a speaker in a variety of areas, figure out how you can lend your expertise to others, that will open doors and create reciprocal benefits. Meet and reach out to event coordinators and PR contacts, ask them how to become a speaker or get event recognition.
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