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Success For Today's Entrepreneurs

Keith Chemlen's Keys For Success


Keith believes that business owners who enter entrepreneurial ventures with the right tools have what it takes to innovate, communicate, and achieve business success in any economy.

 

1. Start with the right mindset.

Keith says, "when it comes to our mindsets, we’re often victims of conditioning and genetics. The latest research suggests that 96 to 98 percent of all our thought patterns and behaviors are based on our conditioning."

When faced with negative circumstances, some people are conditioned to move forward (despite them). They can go through turmoil and emerge successful. They see the world differently than those who allow outside circumstances to control their thinking. It’s important to realize that you have no control over bad things happening, he says: “The only things we can control are our own thoughts and actions.”

 

2. Think of circumstances differently.

Having the right mindset requires that entrepreneurs, in particular, not look at the recession as a reason for failure or lack of opportunity, but rather as a reason for innovation. The entrepreneur should ask the important question, why is a particular business failing and how can I take a different approach to make it work?

“Whenever there is a recession, which I prefer to call a reorganization, innovation starts to happen. When innovation starts to happen, we start to think about different ways to serve the consumer’s needs,” Chemlen says. “That’s when you start to develop a brand around resolving the problem and creating products and services that people need during those tough times. Times that are challenging will actually bring out the weaknesses of the masses.”

 

3. Next step: Fill a need.

Before launching any kind of marketing campaign for a new (or existing) business, ask this question first: Is there really a need in the marketplace for your product or service?

The adage, "Build it and they will come," is 1970s and ’80s thinking, Chemlen says. Today, it’s, "Find out what they want; then build it."

Once you build it, make people want it because of the experience, Chemlen adds. When filling a need, realize that the client experience is even more important than the product. A great example is Starbucks. Starbucks doesn’t sell coffee; Starbucks sells an experience. “That’s why they’re able to charge $4 for a $.10 cup of coffee,” he says.

 

4. Ask yourself, what makes you different?

One of the most important elements of developing a successful marketing strategy is to understand what it is about your product or service that makes it unique. You can compete on quality, price or experience. Chemlen warns, however, that competing on price is often a losing battle. Rather, most business owners should look at how they can create a positive and memorable experience for their customers.

Entrepreneurs who do not find and promote a special niche will get lost in a crowded marketplace. “[If] they don’t know how to differentiate themselves from their competition, they become a commodity versus an experience. When you become a commodity, you will always be fighting on price. When you become an experience for people… they don’t compare your product or service to everybody else’s because the experience is so much greater than the product or service itself,” Chemlen says.

 

5. Clear the clutter.

“In this media-saturated world, your charge,” says Chemlen, “is to create a lasting impression on the consumer’s mind that differentiates you from everybody else.”

One of Chemlen’s own mentor's clients, a dentist, partnered with a local limousine company to provide transportation for teenage patients. The dentist absorbs the $25 it costs to pick up and bring home teenagers for their dental appointments. Marketing the time-saver to parents was a big hit, and students quickly spread the word about riding to the dentist’s office in a limo. A good marketing concept built on creating a memorable and positive experience, successful promotion and word-of-mouth led, in this case, to an explosion of business during the next 12 months.

“In today’s world, when we’re getting 50,000 messages a day, from… billboards, television, radio, e-mail, print, calls, etc., we have to differentiate ourselves. We have to do something that’s unique and different so that we stand out from everybody else who is yelling and screaming "pick me, pick me!!"

 

ABOUT AUTHOR
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Keith Chemlen

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Keith has lived and loved the wonderful world of Entrepreneurship since a very young age. At just 13 years old, he started a Landscape Services Company in his neighborhood which grew quickly and became extremely profitable. This introduction to Business taught him valuable lessons which he later applied to a variety of other companies. He enjoys all aspects of Sales and Marketing, and enjoys teaching others how to apply the strategies that are necessary to take their Businesses to new levels.

Location:  Boston, MA

Last Active:  March 05, 2018 03:13 PM (EDT)

Zip Code: 02116 0 Reviews

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