Create something different that exceeds people’s needs. 

Most clients only ask for what they need because they don’t know what else is possible. Develop a solution for your clients that actually addresses their problem in a meaningful way. For example, while our clients are interested in banking solutions, we provide these plus an entire “lifestyle layer” that enables them to engage their consumers like never before — a value-add they didn’t expect.

But don’t just sell what you have — understand their problem. Clearly, they are looking for a solution, but why? What friction points are there?

The clients we work with generally don’t want to do any development or IT work on their end. They want a plug-and-play solution that they’re also able to customize. This isn’t always the easiest things to provide, but when you spend time creating a solution that solves your client’s problem and addresses their concerns, it not only impresses them but also boosts your credibility.

Market with scalability and manageability. 

This is a chicken-or-egg scenario: Should you build a robust technology infrastructure that requires more time and money, or should you start small and scramble to build? “Scalability” is a common buzzword we’re all familiar with, but many people don’t put enough thought into it.

Scalability goes beyond technology — it applies to staffing, processes, policies, office space and more. Work with your key members and make sure they understand where you think the business is headed. Take time planning how you will account for various situations that could arise, and how you’ll handle them. This way, when it’s time to scale, it’s no surprise to anyone, and you’ll have ideas at the ready to pull from.

Keep your friends close, and your technology team closer. 

When you start building a new company or product, it’s going to vastly evolve from the initial concept. No matter what you do, there will be changes — sometimes pretty major ones.

If there’s anyone who typically isn’t happy about change, it’s your technology team. Think about it: They’ve spent months (or sometimes years) developing the current platform, then out of nowhere, they have to completely re-engineer the solution or force a new solution to work with the existing infrastructure.

Keep your tech team in the loop so that when changes arise, they understand why. In the hectic, day-to-day grind, it’s easy to just give orders about what needs to be done. But to those who aren’t involved with everything, these orders can seem like a knee-jerk or an irrational decision. Keeping your team in the loop helps them understand why any deviations need to occur and what impact they have on the business. Ultimately, the team will feel more connected, and the added workload will be better received.

Seek out strategic partnerships. 

When you build relationships with new partners, there are several things you should consider — one being mutually beneficial channel partnerships.

We were once speaking with two different service providers to provide new functionality for our customers. Our technology team looked at both party’s application program interfaces (APIs) and felt that they provided a similar offering. Even though Provider A would have been easier to integrate with, we chose Provider B for strategic reasons. Both providers delivered the same end-user experience, but in exchange for using their services, Provider B would push our solution to their clients — bringing us both more business. We even looped our technology team into the decision process (speaking to my previous point) and they were on board to tackle the extra work.

Learn how to provide simple explanations to disruptive solutions. 

You’ve created something awesome and unheard of. The problem is, if it’s something truly revolutionary, no one else has heard of it either. You’re at square one, and you have to educate people in a meaningful way. Above all, it’s important to learn how to explain to your client (in terms they’ll understand) why your solution is so innovative and beneficial to them.

We introduced a functionality that no one was accustomed to experiencing in a retail banking application. We knew our platform inside out and could explain it to each other easily, but we ran into a communication barrier when trying to sell it to the banking industry. People had no clue what we were talking about. We ended up using banking industry speak to put it in terms that made sense to them and addressed the problems they faced.

One way to streamline this undertaking is to come up with several simple explanations and try them out with different clients. Attending trade shows and exhibits is a great way to test your marketing message with key people in the industry. This exercise will also point to any weaknesses in your messaging so you can figure out what needs to be improved.

Plan for another plan. 

No matter what you do, nothing will happen the way you expect it. While the highs will be high (and the lows, low), trust in yourself that you can persevere through the tough situations and find a way to make it work against all odds.

These days, I hear the term thrown around a lot. Businesses and so-called thought leaders talk about emerging trends in strategy with each passing year. But must these strategies change over time?

There is a saying that 20% of businesses in every industry take in 80% of the earnings. I believe this is because they have a time-tested business strategy that encompasses each of the following basic principles, which are based on the ideas of the renowned Prussian military theorist Carl von Clausewitz and incorporated in the U.S. Army Field Manual of Military Operations.

Clausewitz, a widely-renowned strategic theorist, believed that war and business shared a good deal of similarities and that both involve a clash of interests. His insights and strategy not only significantly influence modern business, but also offer an opportunity for managers who want to improve their global business strategies.

The Principle of Objective

Every action must have a clearly defined and actionable goal. That’s the first principle of an effective strategy. Though it may sound obvious, I cannot stress the importance of being certain on what you have set out to accomplish — and how you plan on achieving it.

Business owners who spend time defining clear objectives for their company and employees are usually the most profitable, and by a significant margin. These businesses carry out their operations in the most efficient and effective manner because each employee (no matter how many there may be) knows exactly what their role is, what they are expected to deliver, and by what time they need to do it.

My company’s vision is to “build delightfully smart tools.” It’s an objective that trickles down to every single employee as a clearly defined statement of purpose.

The Principle of Offensive

Business, like war, is an intense fight for survival — and survival requires you to be on the offensive. As a technology entrepreneur, I constantly make adjustments to thrive in today’s economic climate.

Challenging your competitors and winning battles is the only way to move up the ladder of success. Every market has challenges, and only by taking them head-on can you create your own space.

History shows you don’t win battles on the defensive. Rather, you need to identify your competition’s strengths and, and more importantly, their weaknesses. Look for a chink in the armor that can be exploited. Instill a “relentless attack” mindset, continuously going on the offensive with new products, services and ways to reach your ideal prospect and communicate with them. 

The Principle of Mass

The principle of mass is about concentrating your power at the right place and time: “Concentrate combat power at the decisive place and time.”

Applied to business, this means you should wait for that decisive moment before you seize the opportunity. And when that moment is upon you, only then should you concentrate all your resources to achieve the desired market position. This is often seen in practice by businesses that deal with seasonality, where major transactions are carried out over a small period of time requiring a massive allocation of resources.

The Principle of Maneuver

Businesses need to remain flexible and have enough maneuverability to continue pursuing innovative and creative ways to better serve their customers. Despite all odds, and no matter what the competition does, businesses need to continue moving forward and always look for simpler, cheaper and faster ways to serve customers, increase sales and achieve higher returns on investment. 

The principle of maneuver requires you to use speed, surprise and economy of effort as the key elements with which to defeat your competition. If you don’t move decisively, you stagnate. And when you stagnate, you risk going out of business. Maneuver is an act of initiative, resulting in long-term business gains and sustainable growth.

The Principle of Surprise    

The most common and classic mistake that a business can make is to be predictable. This doesn’t necessarily mean you need to introduce a brand-new product, but it can often be in the form of an improved and repositioned product that has been given a major overhaul.

In order to stay ahead of the competition, businesses need to constantly strive towards developing a competitive advantage with products, marketing strategies, services, processes, sales strategies and by adopting new technology.

The Principle of Security

As a business, you must protect your valuable assets and resources. Your competitors are always on the lookout for any vulnerabilities that you may offer, which they could exploit to gain an advantage. 

Social, mobile, and cloud technologies have grown integral to the functioning of most businesses, leading to higher levels of innovation and business transformations. Security should no longer be a deterrent to this momentum; rather, it’s time for businesses to analyze and mitigate risks to acceptable levels while moving forward.

The Principle of Simplicity

In the words of Karl von Clausewitz, “Everything in war is simple, but the simplest thing is difficult. The difficulties accumulate and end by producing a kind of friction that is inconceivable unless one has experienced war.”

As a strategic leader, you need to make several decisions as you plan ahead. What’s important, however, is that these plans remain clear, succint and easy to understand if they are to be executed without issue.

By taking these steps, you put yourself in the position to scale your company and maintain your advantage against changing markets and new competitors over time.

I’ve always admired business owners who maintain calm and patient personas and are not worried about money. As an entrepreneur who provides strategy consulting to other entrepreneurs, many people have asked me what habits I think are imperative to achieving success in the field. I thought about this question a lot and came up with a list of just a few habits I think are stepping stones:

1. Routine: Spontaneity and adventure are great medicines for the soul, but entrepreneurs need a routine to succeed. Creating a routine helps remove the decision-making factor from the equation, and leaves all of that creative brainpower for far more important tasks and choices. Now, I’m not talking about regimenting every second of your life. Stiff scheduling can strangle creative souls. Instead, map out what you’ll have for breakfast, what time of day you’ll answer new inquiries, and what you’ll be doing in the gym to keep your mind and body healthy. These benchmarks will help you through the day so you can conserve your creative energy and critical thinking skills. I usually start every day with meditation, my workout, and focused attention on my No. 1 priority. This ensures that I begin each morning with a feeling of accomplishment.
2. Confidence: People who lack confidence tend to second guess their decisions. The last thing people want is a wishy-washy leader, and individuals lacking self-confidence tend to fall in this camp. While it is OK to have self-doubt while you’re building up your business, you’ll need to look deep within yourself and figure out if you are feeling the typical anxiety of taking a risk, or if you lack self-confidence in too many aspects of your life. One of my confidence hacks is to sing songs in the morning. It always makes me feel energized and gives me the energy to go after my objectives.
3. Mindfulness: Mindfulness builds on confidence. Those who are successful in business take the time they need to think about their options and focus on their overall mindfulness. Listen to your body and your mind, and absorb those thoughts. I recommend yoga, but taking a hike or simply sitting in silence is effective, too. Being mindful helps guide every decision that you have to make.
4. Integrity: Getting rich should never be an entrepreneur’s ultimate goal. Instead, it should serve as another much-appreciated result of your efforts. Setting out with the intention of gaining wealth is an indicator that your ethics are unbalanced, and an unethical businessperson is sure to be an unsuccessful one. While some will enjoy wealth in the short-term, this house of cards eventually tumbles. In my experience, the most successful entrepreneurs are ones who set out to fill a need in the market and do so with their consumers’ best interests at heart. This type of businessperson succeeds because his or her intentions are pure. As a result, they tend to make ample money.

Don’t get me wrong, these are not the only habits that successful entrepreneurs possess, but they are a great place to start. Keep these habits as a foundation, and success will follow you wherever you go.

Companies that don’t immediately market themselves take longer to establish customers, which negatively affects any short-term profitability. By following a few essential marketing tips, though, your company can garner recognition in a shorter amount of time, helping you achieve the success you deserve.

Create a Unique Message Based on Customer Input

For startups to truly grow, they must know what the customer needs and then continue to create unique marketing messages for those customers. Work with your end users as much as possible, constantly asking for feedback and recommendations.

Take everything into consideration, but be warned: Don’t only feed the needs of certain customers, even if they are your best. If this happens, you can lose focus of the basic idea of your product that is likely driving new customers to your business.

During our first year, we constantly asked for feedback through follow-up emails and even some basic questions following a transaction. We asked, “How can we make the booking process smoother? How are our prices? Will you use us again, and if so, why?” These types of questions helped us refine our product and allowed us to center on the most important element of any startup: the customer.

Don’t Neglect the Importance of Great Content Marketing

The old adage, “Content is king” has never carried so much weight. Make sure to hire a great content team with a sharp eye for spelling/grammar mistakes and the know-how to capture the attention of an otherwise distracted or disinterested audience. 

We could have saved loads of money by hiring cheap freelancers. But the quality wasn’t there. Instead, we spent considerable amounts of time finding the right fit for content creation, from hotel pages to landing pages, and it has paid off. 

Develop a Strong Brand

Spend the extra time up front developing your brand. Find what makes you truly unique, and create a strong editorial voice, content strategy and social media campaign to strengthen your unique message.

The more defined your product is, the easier it is to build a brand: For instance, my company’s sweet spot focuses on travel in and out of Africa. Always start with the most simple and straightforward message of your product, and build your brand from there.

Focus on Your Customer Base

Focusing strictly on sales in the beginning of any startup is easy to do, especially for those who are self-funding. Revenue equals success, and all startups seek that. But this usually requires focus on the route to revenue: building a sustainable customer base.

Focus on creating relationships with existing clients and treating them well. Think of every situation as winning their business back over and over again. Make your customers feel as though they are part of your team through some interaction like contests on social media, giveaways, and frequent newsletters.

We cater to previous customers by providing them with a discount on their next trip. This has helped create some brand loyalty and positive reviews that help newer customers decide to continue working with us over our competitors.

Study Other Startups’ Strategies

Study your industry, especially your competitors that are doing well. Don’t mimic; you’ll immediately lose respect for that. Rather, find out what they are doing and see if you can learn from it.

We work with a few analysts who allocate time each month to studying the competition. You’d be surprised at what works for others, and also how many are mimicking your own services. Competitive analysis is fun and helps you create a better product by giving you insight into what works (and doesn’t work) within your industry.

Think of marketing as just as important to a startup’s growth as the product or service itself. As you grow and discover your brand’s “secret sauce,” you’ll create a truly unique marketing plan that is focused on your target customer and will build your brand’s authority. Start off with these five essentials and expand from there.

If it’s any comfort, your problem isn’t unique. As a three-time entrepreneur, I’ve faced this numerous times myself. Today, I help people overcome this obstacle — by harnessing the unparalleled power of video.

Building trust and credibility with potential buyers is absolutely critical to growing your business. While it doesn’t typically happen overnight, a well-made video can certainly kickstart the process. Here’s how:

Storytelling on Steroids

Sure, a picture is worth a thousand words. But a 60-second video is equivalent to roughly 1.8 million words. Imagine the story you can tell with that many words.

Not only can a video give audiences a better understanding of your product, but it also has the power to evoke emotion from your customers in ways other media can’t. Video gets people excited, helps them empathize, and makes them yearn for that stress-free solution you’re offering. Creating an emotional connection with audiences compels them to believe you understand their pain points and to trust the solutions you provide.

Of course, where you tell your story also matters: Don’t just keep it hidden on your website or social media pages. Thanks to digital video distribution platforms, you can quickly infiltrate all of cyberspace and ensure that your video is poised to target audiences whenever they browse their favorite websites or consume related content.

The Proof Is All Around Us

Video has helped many new startups and established companies take products or services to mainstream audiences. In fact, major brands have been capitalizing on this marketing approach for years.

In 2014, it took Chipotle just three and a half minutes to solidify its status as the thoughtful alternative to fast-food chains serving up greasy food made with GMOs. The company’s ad features a scarecrow that challenges the status quo in food production. It not only won top honors in the PR space at the 61st annual Cannes Lions International Festival of Creativity, but also helped build a highly trustworthy reputation for the brand — which is likely why its recent challenges haven’t totally sunk it.

A few years prior, Michael Dubin, founder of Dollar Shave Club, decided to create an irreverent, hilarious YouTube video (starring himself) to drum up business for his subscription razor service. Within two days, the company had more than 12,000 new subscribers. That video cost less than $5,000 to make and has since been viewed more than 23 million times (and Dollar Shave Club was since acquired by Unilever for $1 billion).

While video has proven its ability to catapult brands to unimaginable heights, but how do you create a brand video the right way?

1. Don’t start a war. If you insult your competitors in your video, nobody will sympathize with you if they retaliate. Plus, if they’re already established companies, they probably have the resources to one-up you.

Aside from the fact that videos focused on the best qualities of a product — as opposed to the negative attributes of a competitor’s — feel more trustworthy, there are a few more reasons you should keep it positive. You also don’t want to offend or alienate your target customers, who may have purchased or considered purchasing from your competitors. Finally, dwelling on competitors’ weaknesses can give the impression that you don’t really have any strengths to talk about, so ditch the inferiority complex.

2. Give people what they appreciate most — authenticity. Documentary-style videos give founders the opportunity to share their stories directly with audiences. These types of videos are typically found on company websites and can be shortened into commercial formats.

In video interviews, give genuine responses; don’t over-rehearse or memorize scripts verbatim — you’ll sound generic. People recognize and relate to what is real. Likewise, video is one of the best ways to introduce your team to the world, as we did in our 2015 holiday party video.

Sure, people can read team bios on your website, but video gives viewers an opportunity to see your team in their element. It’s OK for the video’s vibe to feel more relaxed and team-oriented, but it’s still important to boast a high-quality product. If it’s shot on a smartphone or poorly edited, for example, it can relay an unprofessional message to customers.

3. Turn customers into your best salespeople. Testimonials are a great way to build trust for your brand, but avoid stereotypical before-and-after photos and infomercial-type jargon. Show real customers talking candidly about why they love your product — and make sure they smile often on camera.

Making a killer video for your brand doesn’t have to be hard. Stick to these tips, and you’ll have one you can be proud of. Throw in the right combination of promotion and quality production, and it may even launch your brand to stardom.

When building a company, it’s beneficial to have battle-hardened advisors to help guide you through the ups and downs of a startup. A good mentor brings a different perspective to the table, provides invaluable introductions, and can save you days of work and heartache by providing you with informational shortcuts.

So the important question is: how do you seek out a good mentor and avoid the snake oil salespeople?

Think about what you need help with the most. 

The first step is to take some time to think about what wisdom and insights you need most. Know that a mentor will not be your all-knowing Yoda, dedicating all their time to only you on an abandoned planet. However, like Yoda, a mentor can accelerate your growth and take you to places you never knew existed. Deep down, mentors are people who happen to have had success in industries and verticals that your company has chosen to focus on. What makes a good mentor unique is that they are willing to share their hard-won knowledge with you at no monetary cost.

Establish a mutually beneficial relationship. 

This part is important: “no monetary cost.”

Paying someone to mentor your startup is a misalignment to the founder-mentor relationship. The entire reason for seeking out a mentor is to fast-track your way to a mutually beneficial goal. The goal is your unique reason for why you are dedicating your life to your company: why you are asking your early employees not to work at a big name company or another sexy startup. It is why you are asking investors to back you.

This is not to say that a mentor shouldn’t have additional reasons for giving you their valuable time and opening up their Rolodex for you. Indeed, a mentor worth their salt is worth shares in your company. You give a team member shares in your company, with a cliff and vesting schedule, of course. You offer these shares to align their current and future desires with your company’s. Consider doing the same with a mentor that will roll up their sleeves and bring quantifiable and long-term value to your business.  

Network like a pro. 

Now, find your Yoda. This isn’t as daunting as you may think. I drew Titans in my industry to give my company their valuable time with a little bit of planning, patience, a dose of ingenuity and a big scoop of engaging with people in the right conditions makes all the difference.

Technology meetups, hackathons and industry conferences are optimal environments for discovering your ideal mentor. Once you find someone who can help you achieve your goals, have a genuine conversation with them and let them know what you’re doing, why you’re going to be successful doing it, and how you think they could help.

Keep in mind that the advisor-founder relationship is slightly different than those you have with an involved investor. You must feel comfortable enough to be vulnerable with your advisor and show them works in progress, because they are there to massage your marketing and sales plans, help vet potential hires, and jump on last-minute calls to weigh in on your prioritized sprints. You need to have the trust in them to fully consider their words when they tell you something won’t work.

Your investors have a portfolio of companies to attend to. They excel at helping you with your next raise. Your Yoda is there to ensure you have established the correct KPIs and are hitting them every week.

Trust your instincts. 

The final step is to listen to your gut if you are questioning whether a mentor is worth granting shares to or not. If there is doubt, they are not the advisor for you.

If they pass the gut check, move them onto a serious discussion of what exactly they will bring to your ecosystem. Make sure you get hard numbers and commitments in writing and signed by all. You can find some great jumping-off templates with a simple search. Finally, ensure that you protect your company’s IP: A good advisor will sign an agreement created to preserve the integrity of your business. A great advisor will suggest improvements to your agreements before signing.

Recall Yoda’s wise words when entering into a mentor-founder relationship: “You will find only what you bring in.”

Find a Great Market Opportunity

To better recognize the reality of your company’s future, understand your market size and potential. Research your desired market thoroughly and analyze the data. You can get started by checking out some helpful tips from articles like this one or utilizing free resources to collect data on your market. A great market has many potential customers willing to spend money, is already large or is expanding rapidly, or has a fragmented customer base with little customer concentration. 

At my company, we focused on an untapped market: over 90 million U.S. hourly workers. We’ve strived to create a place for them to find better employment. As Uber has proved, mobile technology is able to give hourly workers access to information instantly so they can work when they want. In January 2014, after speaking to many potential clients, we pivoted from a web social network to a mobile marketplace. Prior to this, we were growing exponentially, but not virally. Ultimately, client demand drove our decision to pivot the business.

Listen to your clients when making these types of vital decisions. After the shift, we rigorously measured our customer acquisition costs and lifetime value metrics. Many of our investors supported the company because of the early financial metrics and the large market opportunity. Take the time to measure these types of data for your investors.

Look for Strong Co-Founders 

Venture capital firms seek out exceptional founders. I personally believe that the best founders have a combination of domain knowledge, vision, and the ability to build and sell a great product. During my decade at OCA Ventures, I met over a thousand passionate entrepreneurs, founders and management teams. Our best investments were with teams that knew how to execute, often by selling. They sold their vision: to angel investors, early team members and even beta client before the product was built.

The same traits that make great salespeople often make great founders. My own co-founders have passion and grit. Find partners who have similar values yet different functional skills. To find great co-founders, network diligently and don’t be afraid to share your idea. Be comfortable having candid and open conversations about roles and responsibilities from the beginning.

Make Sure You Have Product/Market Fit

Are companies buying your product as fast as you can make it, or are sales cycles long and word-of-mouth ROI low? If it’s the former, you might be a candidate for capital. As an investor, I would often monitor a sales pipeline for months or longer to see how many clients actually closed. It would clue me into the company’s product/market fit before I decided to make an investment. 

In addition to these three factors, timing is an important consideration when raising venture capital. Attempting to raise money when you are low (or out) of cash is not a sensible practice. Instead, consider waiting until a venture capital fund is at the beginning or middle of a fund cycle and is actively looking to invest. Also, be conscious of the time of year you decide to dedicate to raising funds. Summer months and certain holiday winter weeks might be slower, as key investment partner might be out of the office.

When seeking a venture capital partner, remember that they will be intimately tied to your business. Someone who understands your business’ domain can add ongoing value. Make sure that your potential partner stands behind your vision and mission. 

The financing process can be long, hard and not the right path for most businesses. However, if you have the right strategy coupled with the right capital and partner, an amazing growth business could be the storybook outcome.