Welcome to my How to Think Like A Smart Entrepreneur blog post. Are you a smart entrepreneur? Do you know the five things that smart entrepreneurs never do? Stay tuned with this blog post and be a smart entrepreneur.
Introducing Myself:
I am Raju Bhadra working with online marketing since 2012. At the very beginning, I worked cash my link CPA company by promoting watching movies. Then in 2014, I worked with Clicksure and Clickbetter. I promote their products by reviewing. After that, I was outside a few months for my LLB and LLM graduation. Then After 2016, I started to promote WarriorPlus and ClickBank Product and The Four Percent Group. After 2017 I started to release products in WarriorPlus. I released over 50+ quality products in WarriorPlus. Now at present, I am promoting various JVZoo products, and My main focus on LEGENDARY MARKETER & ENTRE INSTITUTE because I LOVE High Ticket Program and everyone should join a High Ticket Program.
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How to Think Like A Smart Entrepreneur? 🔥 5 Important Things
No #1 – Never Micromanage
Number one, smart entrepreneurs, they never micromanage. Now I want you to imagine back then when you are starting your business. I want to know all the details, because at the beginning of your career, your business career you are doing everything, you’re the one-man/one-woman show. You are selling, you are closing, you are doing the invoice, you’re doing the marketing, you’re meeting with people, you are doing the fulfillment, you’re making a phone call, you’re dealing with the receipts, right?
And you are trying to make sure everything doesn’t fall apart, you’re talking to everybody, and you have to micromanage because that’s what you need to do. But after a certain point that behavior, even as you grow, stay. Because that’s how you know, that’s what it takes to grow a business. I gotta know everything, I’ve gotta micromanage, but then what happens is as your revenue grows, you will hit a glass ceiling. And that behavior as a rugged individualist, that’s a control freak does not serve you if you want to go to the next level. You have to let go.
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Now you can no longer manage in the kind of a small detail of way. You cannot micromanage anymore. So smart entrepreneurs you have to learn and we know we are macro thinkers. What we need to do as a smart entrepreneur is we need to figure exactly where we are going, what’s our vision, that’s your job. You figure out the vision, number one, and number two you now recruit and hire talents to help you that you know they have the capabilities and right attitudes, the right culture, to help you to execute that vision. That’s number two and number three, you as a leader, very important, allocate the resources, the capital to execute that vision, to help your team execute that vision. That is it, that is it.
When you are micromanaging you cannot do that, because you’re too close to your business. You got to step back and think about the big picture. What is the vision? Who do I need to have on my team to execute this vision? And how do I allocate my resources that will help them prioritize, they will help my team to execute that vision, and that is it. So smart entrepreneurs, we don’t micromanage.
No #2 – Don’t Say YES to Everything
Number two, smart entrepreneurs don’t say yes to everything. At the beginning of your entrepreneurial career, you have to say yes to everything. You have to say yes to that meeting. You have to say yes to every single client that comes through the door. Then You just say yes to every single email, because you are still growing and building, but when you get to a certain size and certain point you have to learn how to say no.
As an entrepreneur, you must realize that you have a finite amount of time, resources, capital, whatever that it is, it is not infinite. So as a CEO, as a founder, you must learn to prioritize. It is okay when someone sends you an investment, a picture, a joint venture proposal, and whatever, it’s okay to ignore. Some you do reply, some you could ignore because as an entrepreneur you have to know when to say no and when to say yes.
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No #3 – Never Stop Listening to Your Ideal Customers
Number three, smart entrepreneurs never stop listening to ideal customers. As entrepreneurs what do we do? What it boils down to is we solve other people’s problems and fulfill other people’s needs and make a profit in the process and we cannot fulfill other people’s needs if we don’t understand what our ideal customer’s needs are. You see you don’t have to be the marketing genius. Your customer is a marketing genius. They will tell you what they want. They will tell you what they like. And they would also tell you what they don’t like and what are they willing to pay for. They vote with their wallets. That’s the best bet.
You see most entrepreneurs spend so much time working on the thing or making their thing better, but they don’t spend enough time listening to the customers. Is this even what they want? Did they tell you that that’s what they want? Are they giving you feedback or are you building something that nobody wants and that’s how most entrepreneurs fail.
If you are selling and you offering some kind of disruption technology, that’s a different story, because then you’re anticipating the needs of the marketplace and you are essentially creating your own market. I’m not talking about that, that’s a very small percentage of the entrepreneurs. For most entrepreneurs, we are more tapping into the existing needs, the existing desires that people already have and we’re tapping into that. That’s how we make most of our money. So small entrepreneurs we never stop listening, paying attention to what our ideal customers want and what they need.
No #4 – Focus On Profits, Not Just Revenue
Number four, small entrepreneurs focus on profits not just revenue. One of the biggest mistakes that I’ve made in my career is in the early years I was focusing so much on revenue and I thought, you know what, revenue would solve all problems. I just need to generate more revenue, bring in more sales, it’s always about bringing more sales and if I bring enough sales all my problems will go away. That is simply not true, because you don’t go to the bank and deposit revenue. The bank is not looking at oh, how much revenue you’ve generated. So sometimes when you read from a magazine, when you read from one of these posts, and saying oh, this company’s doing 20, 30, 50, 100, 200, 500 million dollars in revenue. That’s good.
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But how much profit are you actually making? What’s your take-home pay? How much cash do you have in reserve? So profit, if you think about it, it is not an event, it is a habit. So if you’re not making a lot of profit when you’re growing, so let’s say you’re making five million dollars in revenue and you don’t have a lot of profit, by growing it, scaling it to 10 million, are you sure that you will make more profits? Are you sure that your profit would exponentially grow because a profit has to a lot to do with your profit margin? It also has a lot to do with your overhead and your expense.
As an entrepreneur sometimes it’s easier than we are overly optimistic. Okay, we just spend money, let’s bring in more revenue, and you could have a great month of revenue and then you’re looking at profit, oh my god. We’re actually making less money because maybe we did more marketing, it costs us more to bring in those customers or maybe now we need more infrastructure. We’ve hired a lot of new people or we’ve just invested in this piece of equipment, but if you don’t look at a profit it’s a very, very dangerous habit. So smart entrepreneurs we focus on profit, not just revenue.
No #5 – Never Stop Learning
Number five, small entrepreneurs we never stop learning. In order to compete today, today, you need to learn, you need to grow, you cannot stop. That’s what smart entrepreneurs do and that’s what you need to do as well. Remember ignorance is not bliss. Ignorance is poverty. Ignorance is an illness. Then Ignorance is devastation. What you don’t know, will cost you, so keep learning and keep growing, keep reinventing yourself. What you have accomplished in the past, it does not matter, it doesn’t count. And What comes, what matters, is today, the present moment and where you’re going in the future.
Final Opinion: How to Think Like A Smart Entrepreneur
So I hope this blog post was helpful and kind of explanation How to Think Like A Smart Entrepreneur. I’m an internet marketer. I’ve been running an internet business since 2012. I’ve been making thousands of dollars. And I’ve worked in a number of different fields but place, where I’ve made most of my money, is affiliate marketing. If you do want to learn more about making money online and even starting an affiliate marketing-based business, which any products it doesn’t require any customer support or fulfillment or any of that jazz. Then check my No #1 Recommendation.
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