269. Two of the MOST Important Considerations When Starting and Running Your Business

Two of the MOST Important Considerations When Starting and Running Your Business    This episode of Millionaire University features an interview with Nick Winnenberg, a fellow entrepreneur with entities involved in staffing, IT, and podcast production. Nick discusses two of the MOST important considerations that need to be made when starting and running your new business, validating your offer with your potential clientele and knowing when to pivot or persist. Nick gives us out-of-the-box ways to go about validating your offer and making sure you're asking the right questions and addressing the right crowd in the right way. He also shares his insight on when it may be best to pivot or best to persist through any given scenario we can encounter in our business journey. Nick provides examples from his own experience of having to pivot and persist on multiple occasions.   What we discuss with Nick Winnenberg:   + Validating your business idea with the market you intend to sell to. + Finding product market fit. + Having conversations with people you think could be your customers. + Pitfalls of going too narrow in your research. + Can you learn entrepreneurship or is it only inborn in some of us? + Keeping your eyes open for opportunities. + Nicheing down. + Knowing when to pivot or persist. + Identifying the signs that indicate a need to pivot or persist. + Setting the expectations for what you want from your business. + Looking at your business as a science.   Sign up for our FREE Business Course — for those who want to start a business, currently have a business and want to grow, or have a skill that they want to turn into a business. Understand the 7 Phases of A business, so you know where you are now and where you need to go next!  - at https://www.millionaireuniversity.com/training.   Subscribe to the Millionaire University newsletter today for ongoing FREE Business Training.   Thank you, Nick Winnenberg! To connect with Nick, click here.   If you enjoyed this episode with Nick, let us know by clicking on any of the links below to send him a quick shout-out: Instagram, Twitter, Facebook, Youtube, TikTok and LinkedIn. We'd love to hear from you!   And if you want us to answer your business questions on an upcoming episode, drop us a line at [email protected].   Did you check out our episode with Trey Richards? Trey is one of the best software developers and one of the smartest people I know. We discussed how to use software to either start a business or grow an existing business. Make sure to check out his episode How to Start a Software (SaaS) Company.