What can you learn from one of the country’s most successful #entrepreneurs and leading Republican candidate? In this week’s Trending on Thursday, we answer that question and more, including advice for marketing your #smallbiz, profiles of successful small business owners, and an explainer on why we need more female entrepreneurs.
Keep reading for all the latest #smallbiz news and tell us which successful entrepreneur you try to emulate.
- Whether or not you agree with his politics, Donald Trump is one of America’s most successful entrepreneurs. To better understand why Trump is having the success he is and how entrepreneurs can apply similar strategies to trump their competition, John Brubaker recently attended a Trump rally in New Hampshire. In the most crowded, competitive Republican race perhaps ever, Donald Trump seemingly dominates the news cycle non-stop. In a crowded, commoditized marketplace, how do you trump the competition and render them irrelevant? Check out Brubaker’s five strategies Trump uses that you can employ in your business.
- Marketing a small business isn’t easy. There are tight budgets to worry about, niche markets to satisfy, and the constant demands of other marketing obligations. But on the flip side, marketing a small business is incredibly exhilarating. In a small business context, it’s much easier to see the immediate impact of a marketing initiative. Neil Patel of Forbes has shared several underused marketing tactics, including sending handwritten letters, hosting a block party, and finding a local speaking engagement.
- Paul Sullivan of the New York Times recently profiled several highly successful business owners that started off as entrepreneurs. It’s always beneficial to get accounts of what made other people successful, and what actions they attribute to their success. One of the most important things you can do, according to Tom Bernthal of Kelton Global, is to be willing to pay for top talent. Others say you need to “know yourself” and be willing to take (responsible) risks.
- Over the years, the e-commerce trend has become increasingly alluring. While bigger companies and businesses have quickly gotten on this new train, there has been a noticeable hesitancy on the part of many small business owners. However, advancements in e-commerce have made it relatively easier for small business owners to move their offline businesses online. Toby Nwazor compiled 10 reasons smart small business owners should opt for e-commerce in this Business2Community article.
- The Honest Company, founded by actress Jessica Alba, is now a runaway success. But the difficulties it had getting off the ground reflect some of the impediments facing women entrepreneurs – only 20 percent of angel investors and six percent of venture capital partners are women. Between 2011 and 2013, only three percent of venture capital went to companies with female CEOs. Andrew Yang runs a national non-profit that recruits and trains aspiring entrepreneurs around the country and has witnessed first-hand how tough it is for female entrepreneurs. In this article for Entrepreneur, Yang profiles highly successful female entrepreneurs and explains why there is an untapped space for them in the market.