Entrepreneur Magazine held its 7th Annual Growth Conference in Miami Beach on February 4, 2015 giving entrepreneurs the opportunity to network and gain ideas, which will lead to success.
Take-a-ways from the opening and breakout sessions I attended
Opening remarks: Use failure as fuel to succeed not a reason to give up.
Sales & Marketing, What Great Brands Do: Focus on what your brand is and share that. Don’t chase customers. Create your brand/business id and commit to it.
PR Perspectives from the Media Pros: Social media is a brand enhancer, not the whole marketing process. Learn how to tell your story. PR is having other people tell your story, marketing is taking what is created by PR and sharing it with your customers.
How to Build a Turn-key Marketing System: Create a system for marketing and stick to it. Don’t just randomly use social media, place ads or write blog posts. Each action should tell the same story and lead customers to you for sales.
I attended this conference with the hopes of learning a few tips on how to grow my business and make a few connections. The conference overall was one of the best I’ve ever attended. As a new entrepreneur, I have become so focused on my work that I miss connections with other like-minded people, who aren’t my clients. This conference was a breath of fresh air as it was filled with people eager to learn and be a part of becoming something great.
The keynote speaker was Barbara Corcoran, she’s a dynamic storyteller. The message from her speech was that we all fail but those who become successful are better able to pick themselves up after failure and keep trying.
A component of the opening event involved three entrepreneurs pitching their business to Barbara for business advice.
The lessons I gathered from the pitches are:
- Know your numbers and understand your numbers.
- Price your product appropriately. You can have a higher price than your competitors but you have to provide a value worth that additional price.
- Have a label or tag on your product that tells your story when you’re a new product to the market.
- Understand how profitable your company is and needs to be before you try to expand. Income that may be good enough for you may not be attractive to investors. Understand what your investors need in order to balance their risk and grow accordingly.
- Know the ROI for your business partners. You may have a great business idea but if those who you partner with aren’t receiving adequate returns, your partnership will not be successful.
Overall this was a great event and I recommend that entrepreneurs attend the next conference.