Seth Godin is a world-renowned entrepreneur and speaker. He is the author of 64 books, including 19 bestsellers. He has also founded multiple companies, such as Squidoo and Yoyodyne. Through his books, he attempts to help people all around the world start their businesses by giving them valuable lessons they should keep in mind. Here I have outlined seven of his most important lessons:
1. The only worse thing than starting something and failing…is Never Starting Failure is always a option in the business world. It is very unlikely that you create the perfect business without first failing and making mistakes. Instead of stressing over the fact that you have done something wrong, use that energy to improve upon your idea and try again. It is much better to fail and learn from your mistakes, than to never try due to a fear of failure.
2. A Product for Everybody is a Product for Nobody When designing a product, never attempt to satisfy everyone in the world. Instead, make the product appeal to a specific group of people. This will create interest in your product and will bring a lot of attention to it from many different people.
3. Never Avoid Creating a Product that Will Face Criticism In order to make a product that is successful, what you offer must stand out and be different from all other products. This will cause it to be criticized before it is even put on the market. This is a positive thing because if it never faces criticism, it is too safe and therefore wont attract many customers.
4. Focus on Your Most Profitable Customer When marketing your product, avoid attempting to appeal to everyone, because they will never spread the word about your product. Instead, direct your efforts towards your most profitable customers. They will be loyal and continue the talk about the product or service you are offering.
5. The Power of Fighting Trough The Dip. In one of Godin’s books, he explains the importance of not quitting during The Dip. The Dip is what he calls the period of time from when you start to where you begin to make a profit. During this period of time, you work for countless hours with little to no reward. In order to create a successful business, you need to continue to work hard and believe fully in your idea throughout The Dip.
6. Doubt is a Killer When starting a business, it is usually not a good thing to doubt yourself. Once you have done the necessary preparations, it is time to commit fully to your plan and take action. If you doubt yourself and your idea, not only are you allowing fear to get to you, but you’re also going to miss the opportunity you have in front of you.
7. Waiting for perfect is never as smart as Progress In the business world, there is never a perfect time to do anything. Instead of wasting time waiting for an ideal situation that could never happen, take action and start your business. This also ensures that no one has the same idea as you and implements it before you can.