Ok super. Dr. Colman, here is the main question of our interview. Many startups are not successful, and some are very successful. From your experience or perspective, what are the main factors that distinguish successful startups from unsuccessful ones? What are your “Five Things You Need to Create a Highly Successful Startup?” If you can, please share a story or an example for each.
In order to get others to notice and ultimately decide to purchase what you’re selling, here are five essential tips.
1.    Create a marketing strategy. First, make sure you look at the potential marketplace for your product or service. Overwhelmingly, entrepreneurs, financiers, executives indicate that the single biggest mistake startups make is not looking at the market before beginning.
2.   Develop your brand. A brand is not a logo. It’s not just an isolated image and tagline. It’s the feeling or essence of what you’re producing that ultimately resonates with buyers. Jeff Bezos said, “Your brand is what stays in the room after you leave the room.”
3.   Know your prospects’ business inside out. I always encourage new “sellers” to learn their prospects’ industries, their products, their real decision makers, and what internal pressures they may be experiencing. This helps to formulate those questions that are so critical to learning their needs and which of your solutions and benefits will fit.
4.  Prioritize building relationships. We place high value on building trust and establishing goodwill in every interaction. Our key strategy is “Find ’em; meet ’em; get ’em; keep ‘em.” Once you have a new client, customer, or even prospect, keep them.
5.   Identify financing opportunities. As I noted earlier, it’s difficult to obtain financing. You must first get your house in order. Potential lenders will want to examine your business plan, financial projections, revenue drivers, capital needs, marketing plan, customer lifetime value plans, and organization documents.
This was very inspiring. Thank you so much for the time you spent with this. We wish you continued success and good health!
Website: TheClosersGroup.com
LinkedIn: allancolman
Email: acolman@closersgroup.com
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