7 Lessons Which Can Help Business Owners And Entrepreneurs Thrive

Great perspective from Tekedia Mini-MBA alum, Anwuli Emmanuella Awogu. In this linked article, she shares 7 lessons which can help business owners and entrepreneurs thrive, as they pursue their missions, drawing perspectives from a movie. Here are the 7 lessons with my commentary after each.

1. Be Unashamed of Promoting your Business: in a world where controlling demand is strategic, if you do not promote it, you have no mission.
2. The Importance of Brand Positioning: supply is unbounded which means finding your spot in that ocean is important.
3.  Not Every Risk is Worth Taking: blessed is he/she who knows the right battle to fight.
4.  Documentation is Key: you can only improve what you measure – and documentation is part of that process.
5. Innovate or Die: If you allow others to set the new basis of competition, you have one option available – extinction. 
6.  Know When to Quit: If all fails, pivot because tomorrow has promises. Fighting the good fight means leaving some fights and entering some new ones.
7. Brand Promise is Key: digital systems have built new nexus of trust, making it possible to break the old rules “do not enter a stranger’s car” [Uber] and do not sleep in a stranger’s house [Airbnb]. If you check, Uber and Airbnb have broken the fears of your grandparents on safety. Yes, a brand is more than a logo!

Here is the piece.

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