Throughout 2018, Innovation Destination Hartford continued to meet with dozens of entrepreneurs from all types of industries and all stages of growth. Here’s some entrepreneurial insight from 10:
HAVE A PLAN IN PLACE
If you have an idea, make sure you have a good plan in place. It’s more than just starting up. It’s about creating a business plan for this year—then updating it for the next year, then the following. Longevity is the goal.
– Jim Giuliano, Founder Construction Solutions Group.
READ: Connecticut Entrepreneur Founds Owner’s Representation Firm
VISIT: csgroup-llc.com
LEARN HOW TO FIND INFORMATION
Lacey Banks McGill (standing) is a Business Advisor at the University of Hartford Entrepreneurial Center. (Shana Sureck Photography)
“If your business is growing, moving up market, or expanding, you’re going to be on a learning curve. You shouldn’t feel inadequate because you don’t know something. You’re always going to not know something. One of the best skills you can learn early on is how to find information—it’s not so important to already know everything.”
— Lacey Banks McGill, Business Advisor at the University of Hartford Entrepreneurial Center
READ: Business Advisory Services from the University of Hartford Entrepreneurial Center
VISIT: www.hartford.edu/ec
FOLLOW: Facebook | Twitter
FIND THE RIGHT MENTORS
“Mentors help you when you’re successful—and when you’re not….Finding the right people to talk to is a shortcut to success.”
– Shana Schlossberg, Founder & CEO Upward Hartford
READ: Upward Hartford CEO Encourages Women Entrepreneurs
VISIT: www.upwardhartford.com
FOLLOW: Facebook | Instagram | LinkedIn | Twitter
KNOW YOUR NUMBERS
“My advice to business owners who are just starting out or those who have been around for a while is to intimately know your numbers—your operating expenses, cost of goods sold, revenue coming in, etc. You cannot make any well-informed decision unless you truly know your numbers. And be real and honest about those numbers—the only person you’re hurting is yourself, if you are honest. It’s not always a pleasant exercise, but it’ll make you a better business owner in the long run.”
– Jenn Grace, Founder Publish Your Purpose Press
READ: Connecticut Entrepreneur Founds Social Impact Publishing Company
VISIT: publishyourpurposepress.com
FOLLOW: Facebook | LinkedIn | Twitter
WATCH: Thought leaders successfully transition to published authors with Publish Your Purpose Press
ONLY MARKET TO YOUR IDEAL CLIENT
“While it may be technically true that anyone with money could buy your product or service, from a marketing standpoint, you simply can’t market to ‘everyone’….Understand what makes your clients tick, how they make decisions, why they do what they do, and why they buy what they buy.”
– Mike Keiser, Co-Founder, The Entrepreneur Circle
READ: Improve Your Marketing by Identifying Your Ideal Client
VISIT: mentalcompass.com
FOLLOW: Facebook | LinkedIn | Twitter
MAKE PEOPLE HAPPY
“Word of mouth is your best marketing tool. If people are happy and they know they can trust you, they will hire you.”
– Diana Lamenzo, Director Tutoring You to Excellence, LLC
READ: Connecticut Entrepreneur Founds Tutoring Startup
VISIT: www.tutoringtoexcellence.com
FOLLOW: Facebook | LinkedIn
FOCUS ON THE PROCESS
“Belief and passion are good, but then you need to figure out: How do I establish proprietary positions? How do I establish control over the manufacturing, formulation, and ownership structure so that when we make a product, we get paid? How do we create value for investors? How do we build a business? And that requires a real focus on the process.”
– Richard Andrews CEO Azitra Inc.
READ: Serial Entrepreneur Helps Build Scientific Startups
VISIT: azitrainc.com
FOLLOW: LinkedIn | Twitter
BE READY
“Make sure that you’re ready and then don’t quit and keep going no matter how tough it gets. That’s something that people have said to me….If you really believe in your product, what you offer is going to come from love not fear.”
– Sarah Barr, Founder Washashore Writing
READ: Woman-Owned, Hartford-Based Startup Communications Company
VISIT: www.washashorewriting.com
FOLLOW: LinkedIn
FIGURE OUT WHAT DRIVES YOU
“Many times, when you see a new concept or business idea, you wonder: Why didn’t I think of that? But, you have to change your mentality. Instead of wondering, why you didn’t think of something first, you have to be ahead of the curve. You have to try to understand what the next thing is that will really drive you internally day in and day out. Because you can’t invest in something you don’t believe in.”
– Chirayu Shah, Co-Owner The Coder School
READ: The Coder School Opens in Farmington, CT
VISIT: www.thecoderschool.com/farmington
FOLLOW: Facebook | Instagram | Twitter
DON’T GET TOO MUCH ADVICE
Too much advice will drive you insane and you can make bad decisions. Get a mentor, build your board of directors with people you trust, and look up to those who are successful and loyal—people who want to see you grow and succeed.
– Brenda Mierzejewski, Founder Mizzi Cosmetics
READ: Connecticut Entrepreneur Shares Updates and Hiring Tips
VISIT: mizzicosmetics.com
FOLLOW: Facebook| Instagram | Twitter