There are so many factors that go into becoming a successful entrepreneur and it’s hard to prioritize and keep track of them. This episode’s guest, Jason Langston, has been walking that entrepreneurial journey for a long time and is handing out tips on which of those things you should really pay attention to and invest your time into. You’ll learn about reinvigorating a business to find new growth opportunities, how your attitude impacts your business, and the pitfalls to avoid when dealing with suppliers.
Takeaways:
- There are some circumstances where making your business smaller in the short term opens new opportunities for long-term growth. If customers have reached their potential and still serving them could hinder growth, you may need to let them go.
- Solidify your vision for the business by defining your brands, defining what your value to your customers is, and conveying the benefit of the use of your products.
- Think about what channels you are selling through right now and see if they are still viable to keep selling on and if there is any room for growth in those channels. If not, you may be better off leaving those channels and focusing more on growing channels.
- Avoid being single vendor reliant! If only one company can make your product, they can strongarm your company into making decisions that aren’t in the company’s best interest because they know your company ceases to exist without them.
- The attitude you and your company has is very important when trying to bringing the right people to your team. If your attitude is positive you are more likely to attract the right people.
- If you are a product manufacturer product distributor, it’s imperative that you have a presence on Amazon. Customers today are very price-conscious and are able to easily compare prices with those on Amazon.
Quote of the Show:
- “I believe that as a manufacturer and as a business, you have to have Amazon. It is essential. They are embedded in the fabric of industry today” - Jason Langston
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