03 Lessons from the front: 4 simple rules for success

1. Pick the right macro & research the reality:

Investigating your market and understanding why customers buy is critical. If you’re addressing a big enough and fast-growing market, you’ll have higher chances of success. I think it’s important to see things from the consumer’s perspective: do you have a typical customer? What buying habits? E.g. What, how much and how often do they buy? What’s currently on offer and why would they choose to switch or buy your product?

2. Plan & get your hands dirty:

You need a business plan and some goals. Get your ideas on paper and KISS your numbers (Keep It Short & Simple). It makes good sense to simply understand how much your business is going to make in its first years. Then you really need to start. I mean not just coming up with a clever strategy but implementing your plan and turning it into a product. With an eye on your cashflow and your milestones, just do whatever it takes, talk to your clients, sell sell sell, get immersed in your business and keep what works. Being on a project mode to constantly improve is a best practice.

3. Focus on people

They will all make a difference, partners, employees, investors… Surround yourself with good people, reward them and be a real person, not just a business person. I think paying attention to relationships and cultivating a culture is a good thing. If you need, try to find a mentor because surely it doesn’t hurt to hear from someone who’s done it all before, right?

4. Persist, persist, persist and protect your ideas

99% of businesses are not based on just inspiration but on perspiration, determination to turn it onto reality. You can be enthusiastic but be careful too that you don’t share details of your plan with potential competitors….

Good luck & Enjoy the journey. I wish you success and happiness for your own personal venture in 2011!

About Nathalie Gaveau ()

Nathalie is a successful start up female entrepreneur, based in London.

She co-founded the e-commerce site PriceMinister.com in 2000 and exited as Rakuten acquired the business in June 2010.

Today, the site claims to attract more than 23 million visitors per month, offering around 127 million discounted products. The PriceMinister community numbers more than 10 million members since summer 2009, and the site has seen a three-digit growth since its foundation, enabling the company to challenge its competitors for the title of the premier e-commerce site in France. She’s a self-motivated and passionate individual, MBA qualified with 11+ years successful entrepreneurial & international experience in digital.

She has a solid track record in E-Commerce, international Business development and Sales & Marketing, with special interest in all things related to new tech.

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