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How to become a successful entrepreneur?

I participated in a VIP Entrepreneur Mentorship organized by Norman Müller, founder, and CEO of Genius Alliance, from November till January 2021. Here are some key takeaways I got from these weekly live mentorings.

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  • Group live sessions are a lucrative digital business model

In one of the first sessions, Norman Müller introduced us to this concept of organizing group live sessions with participants. The idea is simple: you create a sales page about your expertise and deliver on a weekly basis a live mentoring about subcategories of your topic. The good thing is that you charge a modest price but because you can teach 15 or 20 people at the same time it becomes lucrative for you. Norman records these calls and uploads them in a membership area where people can watch the recordings even if they missed a session. The good thing is that this whole process is very interactive and Norman also gave spots for other experts who also presented about their own niche (me included). Here are some of them:

  • Create your personal brand story

Anja Kuhn, who is an expert on the topic of the personal brand story, introduced the group to this idea of being unique with your own story. There are many entrepreneurs and business owners out there who may offer something similar to you. Nevertheless, you’re very special because of your own story and it is important first of all to be aware of this fact and also use it also in your own communication channels. Create a long version and also a shorter version that you tell people and constantly work on your own personal story. The easiest way to do this is through working with somebody like Anja or writing your own personal story down.

  • Sales conversations

Anja Wiebe, who coaches and trains people as a strength coach, spoke about the topic of sales conversations and how to become better at selling. Her main approach is that you first identify your own strengths and based on that create a win-win for your clients. Before pitching all the people around you, you need to actively listen to your clients and really understand their needs. Through paraphrasing, you make sure that you really understand what they need and then offer your product as a solution to their problem. 

  • How often do you think about taxes?

Honestly, as an entrepreneur, we want to get things done! At least this is my own approach, so we often focus on creating new and bigger things, which is important, but we seldom think about tax strategies. How to save taxes or invest so that it makes the most sense for my business? Therefore Myrjam Ross, former chief financial officer, spoke about this topic. She also gave me great advice about an online business model: The E-Residency initiative by Estonia! This is especially interesting for digital nomads because you only pay taxes when you distribute dividends. If you reinvest all your profits you don’t have to pay taxes! A very interesting business models for digital consultants

  • Do you need a competitive advantage? Use AI! 

Florian Schild is the founder of boot.ai a company that develops artificially intelligent products. They also offer a training program for managers who want to make a difference with their work in combination with AI. Florian gave the advice to focus on a specific niche and deliver so much value that people respect you as an expert in a specific topic. Through this niche strategy, you can collect data, about the user behavior of your audience. The best way to find out about user behavior is to create your own platform where you constantly collect data and deliver value to your target audience.

  • Use LinkedIn for lead generation

Jascha Görres helps small and medium enterprises with their LinkedIn strategy and in his presentation, he gave the advice to position your personal brand on LinkedIn. LinkedIn is growing organically very fast and especially in the b2b, there are many opportunities to grow your following and create your own community. The sales navigator of LinkedIn is therefore a very powerful tool to use. You can cluster people regarding industry fields, interests, positions, years of experience, and much more. The sales navigator helps you to find the targeted audience that you want to reach.

  • Video, video, video

As a content marketer, I always recommend my clients to create video material! It is strange for me to say that video is a trend because I’ve been doing this almost for ten years but still today in corona times I meet entrepreneurs who are not willing to invest in video. This is sad because the data is very convincing. People are likely to watch videos more often than static pictures and when you’re seen in videos you can build authority much easier than without video material. The other cool thing is that you can re-use your videos for podcast episodes. I describe this method in my free whitepaper.

It is really unbelievable how your mindset changes and you get the right ideas and contacts if you participate at mentorings like the Genius Alliance Mentorship. I always think about this quote from the Think and Grow Rich book author Napoleon Hill:

“If You Find Yourself Weak In Persistence Surround Yourself With A Mastermind Group” – Napoleon Hill

Doesn’t matter how good you are in one area, there are always people who are far better than you in other fields. I always focus and get in touch with people who have a specific superpower in their area. Through speaking with them I become more aware and a better entrepreneur. The VIP Entrepreneur Mentoring is finished but I’m going to participate in a Podcast Mentoring also with Norman Müller from Genius Alliance.

Do you need more lessons about content marketing? Then visit my website https://www.contentmentoring.com/ and download my free report: 5 steps on how to create a lot of content and earn money with your knowledge! I also offer a brand new podcast mentoring for consultants, business coaches: https://yakup1988.kartra.com/page/Podcastmentoring

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