Starting a business is no easy task. Taking it to the top is even more challenging and many entrepreneurs fail to do it. However, Patrick Ambron is not one of them. After 3 years and 3 unsuccessful product launches, we can say that Patrick has found a way how to efficiently develop his company.
Today, he is the founder and CEO of BrandYourself.com, a company which assists their customers in building and improving their online reputation as well as protecting their privacy. The company employs over 100 experts and has collaborated with almost a million clients. However, it took this entrepreneur almost 10 years to turn his company into what it is today.
As already mentioned, Patrick and his partner had worked on launching their product, around the clock, for 3 years, before the identified their main problem – focus. He says: “You’re better off getting exceptionally good at one thing than moderately good at 100 things.” Instead of trying to control everything and make every feature of your product perfect, you should identify what is of crucial importance and focus on it.
Furthermore, you should start a business if you are really passionate about it. If you want to do this because you see others earning a lot of money, you won’t get far. This is essential because you will be working harder than anyone you know and will have to sacrifice your social life, comfort, and financial security, and there is absolutely no guarantee that you will succeed. If you are not prepared to give 100% of yourself, then this whole thing is definitely not worth it.
Patrick also advises you to keep an eye on the market and create something that will be beneficial to the people in your line of business. For example, BrandYourself.com is always tracking the security problems that users are faced with and they work on designing new technologies that will ensure the safety of their personal data. He states that the key is to concentrate on the biggest issues your clients are faced with and provide them with solutions for those problems.
Lastly, you have to demonstrate your value. Many companies only offer a description of their services and require their clients to pay for everything before even testing the product. Patrick opted for a different approach. They created a lot of free tools, guides, and explanations and offered them to the consumers. This way they didn’t have to invest a lot of money in marketing strategies, but instead, they let their service speak for them. He believes that this is the best way to attract people and prove how significant your product is. If people have the chance to try some basic features they are more likely to make a purchase. Obviously, this way you will not earn considerable revenue in the first year which is why patience is a quality every entrepreneur has to possess. BrandYourself.com has earned nearly $40 million in sales while spending only $100.000 in marketing via this method.
To sum up, if you are careful and smart about starting a business and also hardworking, patient and have a clear goal you want to reach, starting your own business is worth taking all the risks it involves.