4 answers
Jarrett
Student
Calgary, Alberta, Canada
1
Question
Asked
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How would one launch a business focused on specialized industrial areas?
How would an entrepreneur start a business on an industrial scale, specifically for drone services (eg. cinematography, 3d modelling, surveying, etc) how would it get started?
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4 answers
Robert Epstein
General Manager
57
Answers
Naples, Florida
Updated
Robert’s Answer
Hi Jarrett, Drone services sounds like a great idea at this time. Having learned much from starting 2 small businesses, I suggest finding a mentor to help you pursue all the necessary steps. Check out one or more mentor services from organizations like Futurpreneur Canada in Alberta. Or, you could ask a local successful entrepreneur to lunch. Offer to pay for their meal in exchange for getting their insights. Trust your instincts in assessing folks. Overall, the process is sometimes bumpy, but it feels so good when your dream materializes! Enjoy the adventure!
Thank you for the advice! Hopefully I will be going to lunch soon with one guy that has a successful business in the surveying area. I will make sure to talk to more people about that kind of stuff!
Jarrett
Pradyumn Dayal
Management Consultant
2
Answers
New York, New York
Updated
Pradyumn’s Answer
This advice is for a little further down the road, for when you've figured out the basics of your drone business and have had a couple of successful customer interactions.
Try and figure out what could distinguish your business from other similar businesses that you compete with! When you're talking to customers, get a sense of what they enjoyed about working with you, or what the pain points were when they worked with other people, and what they're looking for help on that they haven't been able to find yet. At the same time, try and understand how your competitors operate and how you might stand out from them.
As an example, let's say a customer keeps saying how easy you are to work with - you picked up the phone quickly when they called, you gave them a clear price quote, you showed up when you were supposed to - this suggests that you're great at customer experience and service! Lean into that, and make that a differentiation point. Ask your customers who enjoyed their experience with you to recommend you to their friends.
Similarly, let's say you're getting a lot of requests for a service that you don't provide currently, like cinematography. You do some research and call your competitors, and find out that nobody offers this service yet. That could be a great sign that there's an unfulfilled demand out there! Maybe you want to start offering that service and highlight it in your branding/marketing!
Keeping this mindset in place and your eyes and ears open is how you take your business to the next level; this will let you keep yourself fully booked or increase your prices or be the first player in a new area.
Try and figure out what could distinguish your business from other similar businesses that you compete with! When you're talking to customers, get a sense of what they enjoyed about working with you, or what the pain points were when they worked with other people, and what they're looking for help on that they haven't been able to find yet. At the same time, try and understand how your competitors operate and how you might stand out from them.
As an example, let's say a customer keeps saying how easy you are to work with - you picked up the phone quickly when they called, you gave them a clear price quote, you showed up when you were supposed to - this suggests that you're great at customer experience and service! Lean into that, and make that a differentiation point. Ask your customers who enjoyed their experience with you to recommend you to their friends.
Similarly, let's say you're getting a lot of requests for a service that you don't provide currently, like cinematography. You do some research and call your competitors, and find out that nobody offers this service yet. That could be a great sign that there's an unfulfilled demand out there! Maybe you want to start offering that service and highlight it in your branding/marketing!
Keeping this mindset in place and your eyes and ears open is how you take your business to the next level; this will let you keep yourself fully booked or increase your prices or be the first player in a new area.
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
222
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
You might get some ideas for first steps or next steps if you look into this workbook (https://www.churchofjesuschrist.org/si/institute/registration?lang=eng) or into Dave Ramsey's book EntreLeadership.
Joe Stringa
CEO / Operating Partner
17
Answers
Jackson, Mississippi
Updated
Joe’s Answer
Becoming an entrepreneur involves a combination of mindset, skills, knowledge, and action. Here are some steps to help you embark on your journey as an entrepreneur:
Identify Your Passion and Purpose: Start by identifying your interests, passions, and strengths. Consider what you love to do and what problems or needs you are passionate about solving. Your business idea should align with your values and personal mission.
Research and Validate Your Idea: Conduct market research to assess the demand for your product or service. Identify your target audience, understand their needs and preferences, and assess the competition. Validate your idea by gathering feedback from potential customers and testing your product or service in the market.
Develop a Business Plan: Create a detailed business plan outlining your business concept, target market, value proposition, marketing strategy, operational plan, and financial projections. A well-thought-out business plan will serve as a roadmap for your entrepreneurial journey and help you secure funding if needed.
Acquire Necessary Skills and Knowledge: Develop the skills and knowledge necessary to succeed as an entrepreneur. This may include skills such as leadership, communication, negotiation, marketing, financial management, and problem-solving. Consider taking courses, attending workshops, or seeking mentorship to enhance your skills and expertise.
Secure Funding: Determine how you will finance your business venture. Explore options such as self-funding, bootstrapping, crowdfunding, loans, or seeking investment from venture capitalists or angel investors. Develop a financial plan and budget to ensure you have the necessary funds to launch and grow your business.
Build Your Network: Networking is essential for success as an entrepreneur. Build relationships with other entrepreneurs, industry professionals, mentors, and potential customers. Attend networking events, join industry associations, and participate in online communities to expand your network and gain valuable insights and support.
Take Action: Finally, take action and launch your business. Start small, test your ideas, and iterate based on feedback and results. Embrace challenges and setbacks as opportunities for growth and learning. Stay persistent, adaptable, and resilient as you navigate the ups and downs of entrepreneurship.
By following these steps and staying committed to your vision, you can become a successful entrepreneur and turn your business idea into reality. Remember that entrepreneurship is a journey, and success often requires patience, perseverance, and continuous learning.
Identify Your Passion and Purpose: Start by identifying your interests, passions, and strengths. Consider what you love to do and what problems or needs you are passionate about solving. Your business idea should align with your values and personal mission.
Research and Validate Your Idea: Conduct market research to assess the demand for your product or service. Identify your target audience, understand their needs and preferences, and assess the competition. Validate your idea by gathering feedback from potential customers and testing your product or service in the market.
Develop a Business Plan: Create a detailed business plan outlining your business concept, target market, value proposition, marketing strategy, operational plan, and financial projections. A well-thought-out business plan will serve as a roadmap for your entrepreneurial journey and help you secure funding if needed.
Acquire Necessary Skills and Knowledge: Develop the skills and knowledge necessary to succeed as an entrepreneur. This may include skills such as leadership, communication, negotiation, marketing, financial management, and problem-solving. Consider taking courses, attending workshops, or seeking mentorship to enhance your skills and expertise.
Secure Funding: Determine how you will finance your business venture. Explore options such as self-funding, bootstrapping, crowdfunding, loans, or seeking investment from venture capitalists or angel investors. Develop a financial plan and budget to ensure you have the necessary funds to launch and grow your business.
Build Your Network: Networking is essential for success as an entrepreneur. Build relationships with other entrepreneurs, industry professionals, mentors, and potential customers. Attend networking events, join industry associations, and participate in online communities to expand your network and gain valuable insights and support.
Take Action: Finally, take action and launch your business. Start small, test your ideas, and iterate based on feedback and results. Embrace challenges and setbacks as opportunities for growth and learning. Stay persistent, adaptable, and resilient as you navigate the ups and downs of entrepreneurship.
By following these steps and staying committed to your vision, you can become a successful entrepreneur and turn your business idea into reality. Remember that entrepreneurship is a journey, and success often requires patience, perseverance, and continuous learning.