Learning From The Pro's
The Setting
While working at a SaaS startup that specializes in ecommerce, I’ve been able to interact with some of the best. This has given me opportunity to inspect and admire what makes great brands - great.
Top 5 Takeaways
1. Learn as You Go.
Rarely does a founder have all of the answers from the creation of their brand. They did, however learn the necessity of frequent pivots. Adaptability and success go hand in hand. Something slowing down operations? Change it. Running out of stock? Implement new strategies.
I strongly believe that a willingness to learn and grit set apart the best entrepreneurs. Don’t be afraid of what you don’t know. Learn as much as possible and do not give up.
2. Assemble Willing Hands
Upon creation and during growth, there’s no room for unwilling partners. The best brands start with a team of flexible individuals that care for the team. They are willing to wear many hats and do the “dirty work” to find success. A group of individuals willing to work hard are extremely difficult to beat.
3. Differentiation
You must be different. Plain and simple. The most successful companies are the ones that have a unique product offering AND brand. Some of the mid-tier brands may have one or the other. Whether you’re a product development master or marketing guru, find ways to differentiate yourself and your brand.
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If you aren’t able to be different, it might be good to ask if you’re solving any sort of problem. Get more actionable feedback and try again.
4. Attention to Detail
In ecommerce, it is imperative to pay close attention to ALL the details. You should at least have the desire to know inventory levels, financials, ad spend, and all the statistics that make up your business. The best of the best know the minor details, so they can make major decisions.
Let this be a warning - DO NOT BRUSH PROBLEMS UNDER THE RUG! Sometimes, it’s scary to analyze the problems within the business, but it leads to a brighter future. Do the necessary work to iron out all issues.
5. Systems and Processes
The best way to collaborate is to systematically communicate. In order to work well as a team, SOP’s (standard operating procedures) need to be in place. Once they’re in place, the best leaders hold all others accountable to the expectations.
To make these processes effective, create training guides and tutorials. Ensure that each member of the company clearly understands the tasks that need to be completed.
I definitely don’t pretend to have all the answers, but these are a few things that set apart the great brands. Many factors go into the success of a company, but these are controllable actions anyone can take.