The Road to Entrepreneurial Success: A Step-by-Step Guide for Fledgling Entrepreneurs

I recently had several people who had made the decision to transition from ideating about starting up a business to moving forward with their ideas. One of them approached me regarding her desire to launch a high-end, health-conscious line of body oils and cologne for men. What follows are some key insights and steps I discussed with this budding entrepreneur with the goal of helping others who are just starting their entrepreneurial journey by providing a simple, actionable roadmap for success.

Test Your Product and Gather Feedback

When you're just getting started with a new product or service, it’s essential to test it thoroughly. You need to take it to the marketplace and gather as much feedback as possible. It's not enough to show your product to a handful of friends or family; you need to get it in front of a large number of potential customers.

For the young entrepreneur I spoke with, this meant moving beyond selling a few bottles of oil at local convenience stores and really engaging with people. Often, new entrepreneurs tiptoe into the market, interacting with just a handful of people at a time. I stressed the importance of being bold and scaling up your efforts. If you’re selling a high-end product, you must talk to at least 50 to 100 people a day. You cannot expect to succeed by engaging with just five or six people.