10 Things All Great Entrepreneurs Have in Common, with Maíra Garrido

For the eleventh episode of the Hotmart MASTERS Newscast – the YouTube series where I share what I’ve learned in the first edition of Hotmart MASTERS – I talked about the 10 things great entrepreneurs have in common according to Maíra Garrido. Maíra is Hotmart’s marketing manager in Europe, where she has watched a lot of entrepreneurs rise to success, while others can’t seem to get things off the ground.

In case you didn’t know yet, Hotmart MASTERS is our online, free, and global event with exclusive talks from major players in the digital market.

Today, we are going to review the main takeaways from Maíra Garrido’s talk in the first edition of Hotmart MASTERS. If you want to watch the video, just hit play! And if you want to read the transcription of the content, keep scrolling to take a look at the 10 things you need to start doing right now to become a successful entrepreneur!

So, let’s see if  you have any of these 10 characteristics? Along the way, you’ll see that, even if you don’t have one of these now, you can work to develop it. Let’s go!

1. Don’t wait for the perfect moment

The first characteristic or behavior of successful entrepreneurs is that they don’t wait for the perfect moment to start. It’s normal to try and protect ourselves and one way to do that is by always waiting for the perfect moment, when everything is under control. When this perfect day finally arrives we imagine that then, and only then, we’ll make the perfect decision and start our new project.

But believe me, even if you are fully prepared for nothing to go wrong, some things will always get out of hand. So, don’t wait for the ideal moment, because it may never arrive. The best time to start is now and learn a little more every day so that you can always be improving.

2. A testing mentality

The second key to the success that Maíra gave us is that you need to have a testing mentality. This is important because when you start something new, you’re full of ideas, but you’ll only know if they’re good ideas and have potential if you test them out.

But how do you do that? By talking to your prospective customers or audience, the people you believe will buy your product in the future. They are the only ones that can tell you if what you are planning has the potential to be a good product. 

So, talk to people and test things out. That way you can understand what is working and what still needs to be improved with your product.

3. Proposal for Transformation 

You have to be clear about how your product will transform the lives of those who buy it. With this defined proposal, you’ll be able to sell much faster. Think about it this way: people are looking for something that goes beyond just buying a digital product. What they really want is to transform their lives. 

That means that you have to show people how your product can change their lives. Have you thought about the transformation proposal that your product delivers? It sounds big, but think about why you buy things online, you want to change your life in some way.

4. Network of contacts

Our fourth key is to set up a network of contacts. When Maíra talks about this, she’s not just talking about professional contacts. Family and friends are also essential at this time. Look to your family and among your friends for people who have a mentality similar to yours, people with an entrepreneurial mindset, open to new projects, trying new things professionally, new ways of living and seeing the world.

These people are the folks who will help you the most in rising up to the challenges of being an entrepreneur.

5. Audience

In order to grow, you need to have an audience. Not just any audience, but an audience looking to buy what you’ll produce. It seems a little cliché to talk about audience, doesn’t it? But the truth is that with no audience, you’ll make no sales. So, build your audience.

7. Automate to escalate

Key number 6 is to automate. One power that digital products have is their business model, which is very scalable. And what do I mean by scalable? It means producing and selling in large quantities and quickly.

Digital products are online, so at any given minute, thousands of people can buy your product. You could be in the shower or on the beach and your product keeps selling. Fully automated!

This is the power of digital products as a business model.

But don’t think it means you never need to work. To have a successful business you need to invest a lot of your time and build your entire project with commitment so that it keeps working in the future even when you’re not toiling in the trenches.

7. Ability to Delegate

Number 7 is not easy, at least for me. It’s something that many people have difficulty doing, but it’s fundamental. Delegating. 

When you start out, you have to do so many different tasks at the same time. But, of course, some of these could be passed on for other people to do. The problem is that a lot of us find it difficult to pass responsibilities on to others. But you have to do it.

A tip to help you delegate tasks is to stop for a moment, think about everything you need to do and create a list with only what you see that adds a lot of value to your business. Take care of these most important and strategic tasks yourself, while delegating the other things to people who can help you.This will help you start to create a team.

8. Conversion rate

You need to know your business numbers, and a really important number is the conversion rate. Conversion is the result that you get between the stages of your sales process. I’ll give you an example to make it easier. Imagine that you have an ad running on Facebook for people to click and download an ebook that you’ve created. The conversion rate is understanding how many people clicked on your ad and arrived on your page actually downloaded that material.

This tip is really important. In the end, the conversion numbers will give you clues on how your sales process is performing. So, keep an eye on them!

9. Learn to sell

Maíra considers this characteristic to be the most important. Learning how to sell is essential to success in the digital market, but some people still get stuck on this. One tip Maíra gave was to replace the word sell with help. Remember that when you sell a digital product, you are changing a person’s life, that is to say, you’re helping someone. This makes it easier to break this metal barrier many of us create when it comes to sales.

10. Enjoy

The last key to success in digital entrepreneurship is to enjoy what you do. What you’re constructing is your road to an amazing, powerful entrepreneurial project that will change your life, the lives of your family members and the lives of a ton of people who buy your product. Take a moment to feel proud of what you’re doing and enjoy, ok?

Hotmart MASTERS

As I mentioned before, these tips all came from a talk in the first edition of Hotmart MASTERS.

But don’t worry if you couldn’t participate, because the second edition of the Hotmart MASTERS is almost here. From October 19 to 23, 2020, you have the chance to discover all the trends and changes in entrepreneurship and digital education, without paying anything for it.

Hotmart MASTERS is an online event and 100% free in which you can learn about the strategies of all kinds of digital entrepreneurs. It will take place between the 19th and the 23rd of October and you can guarantee your spot by using this link. Don’t miss this opportunity, okay?