The Coaching Hours are developed to offer our members access to one-on-one coaching by experienced entrepreneurs and professionals.
Every Coaching Hours has their own topic, making it in such a way that when attending the session you walk away with advice from multiple angles. Enabling you to really take that next step forward.
During Coaching Hours you sign up for a 50 minute conversation with the expert of your choice. We always aim to have you speak to at least 1 coach per session.
Marketing – February 19, 2021
Growth – March 19, 2021
Leadership – April 16, 2021
Sales – May 21, 2021
Strategy – June 18, 2021
Marketing is a vital process for entrepreneurs because no venture can become established and grow without a customer market. The process of acquiring and retaining customers is at the core of marketing. Entrepreneurs must create the offer (design the product and set the price), take the offer to the market (through distribution), and, at the same time, tell the market about the offer (communications). These activities define the famous Four Ps of marketing: product, price, place (distribution), and promotion (communication).
Entrepreneurs often are faced with designing the entire “marketing system”—from product and price to distribution and communication. Because it is difficult and expensive to bring new products and services to market—especially difficult for new companies—they need to be more resourceful in their marketing. Many entrepreneurs rely on creativity rather than cash to achieve a compelling image in a noisy marketplace.
An important part of gaining the market’s acceptance is building brand awareness, which, depending on the stage of the venture, may be weak or even nonexistent. Entrepreneurs must differentiate their company’s product or service so its distinctiveness and value are clear to the customer. This is the job of marketing.
Marketing also plays a central role in a venture’s early growth stages when changes to the original business model may be necessary. Companies focused on growth must be able to switch marketing.
Mosanne Monod-de Froideville – Guest Agency
Babs Muljadi – De Marketing Ninja
Vera Westenberg – Marketing Schmarketing
Tatiana Striekwold – Hearst
Entrepreneurial ventures help generate new wealth. Existing businesses may remain confined to existing markets and may hit the glass ceiling in terms of income. New and improved products, services or technology from entrepreneurs enable new markets to be developed and new wealth to be created.
Additionally, increased employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending. This revenue can be used by the government to invest in other, struggling sectors and human capital. Although it may make a few existing players redundant, the government can soften the blow by redirecting surplus wealth to retrain workers.
According to the dictionary, a leader is someone with commanding authority or influence. However, that definition falls short. The leadership expert Peter DeLisle is more specific: “Leadership is the ability to influence other people, with or without authority.” It is very easy to get others to obey your orders when you are their superior in the chain of command; the key lies with those who, even without pulling rank, can get others to share their vision and follow them. Think of a soccer or basketball player who, despite not being captain, is able to rally his teammates and make them follow his lead.
The ability to influence has three elements. The first is awareness, i.e., understanding that every action has an impact. The second is ability, in terms of communication, conflict resolution, and decision-making. Finally, the third is a commitment to your ideas, which means making decisions that may not always please everyone and dealing with the consequences.
Vision, personality, honesty, persistence, hard work… So many qualities are attributed to leaders it can sometimes be difficult to identify with them all. However, the ability to influence others is clearly a leadership skill.
Ask any businesswoman which is more important, their product or how it’s sold, and you’re likely to get a long explanation on why product takes the cake any day of the week. They are not wrong. You don’t have a business if there was nothing to sell.
But, as we enter an era of hypercompetition, how we sell has become at least as important, if not more important than the product itself. There is barely any industry that isn’t exploding with products and/or services. From healthcare to IT to eateries, we are swamped with endless options. A simple search for SaaS companies in Crunchbase alone returns over 9,600 hits!
And that’s only a tiny fraction of the total number of vendors out there. Being outcompeted and cash-flow problems are the main reasons cited by companies that fail in cannot survive their first few years.
People in sales are acutely aware of both those challenges and many more. They are also the ones who are best equipped to tackle those problems, which might be why 15 percent Fortune 500 CEOs started in sales. Sales made realists out of them. They know what works, what doesn’t and they are competitive as hell. Those are the qualities you will need as an entrepreneur.
For entrepreneurs your strategy is a plan for interacting with the competitive environment to achieve your intended goals. Some think of goals and strategies as interchangeable. This formal process of setting goals and creating a strategy adds legitimacy, provides employee direction and motivation, helps form decision-making guidelines, and provides criteria for your performance. In essence, the process of strategy formulation sets the general directions in which your venture’s position will grow and develop—your goals and objectives represent the ends that you are seeking to attain.