A2 Blog Business Strategy

The 3P’s of Startup Success

We all dream of creating businesses that are wildly successful, ones that stand the test of time. Translating an idea within our minds into the physical world is an arduous task. However, when done right, it’s a fulfilling endeavour. Start-ups require all of your attention, but if it’s something you’ve created from a place of passion, unrelenting determination, and expertise, you will never get tired of growing your business. There are so many aspects to consider when bringing a product, service or business to market. We’ve honed in on three key focuses that have helped to establish and grow the Louis & Steen’s Brand.

People 
The phrase ‘No Man is an Island’ becomes so much more real when trying to establish a business. It’s so important to find key team members and mentors who help bring your brand/service / product to life. Many visionaries like Steve Jobs would be nowhere without a brilliant team behind him. Successful businesses like Apple, are led by visionaries who see what is missing in the market. These visionaries, as powerful and transformative as they may be, are not the secret to a business’s initial and continued success. Creativity is just a concept, but, without structured execution, it is a hallowed facade. Visionaries are supported by a team of creatives, financiers, human-resource managers, researchers, day to day operators, and many more professionals reflective of a business’s industry. This collective must know their roles individually and corporately. Roles may cross over, but it must be in a controlled, cohesive, and collaborative fashion. Team members thrive when they know what their missions are within a company; failure begins when members are tasked to execute too many projects (without support/collaboration) beyond their skillset.

Product 
This aspect of your business is the ‘End All Be All.’ Your product or service must exemplify excellence. Choose an industry that you are personally passionate about. This doesn’t mean the cliched ‘Love What You Do, and You Will Never Work a Day in Your Life.’ Entrepreneurship is anything but a vacation. Your business must fulfill a need or desire your customers or potential competitors can execute on the level of which you can. Some businesses create an emotional connection with their customer base through their offerings and branding, however, some create out of sheer consumer necessity without the psychological investment. Creating a business that is both emotional and essential is a powerful formula for success.

Place 
Location for in-store retail companies is as important as the business and brand itself. If a business is not located within an area easily accessible for the demographic who are prone to buy-in to its offerings, it’s setting itself up for failure. ‘Location, Location, Location’ also applies to digital businesses. You can create a beautiful and seamless web portal to sell your products, but if its google rank is low and does not show within the first page of search, customers will not be able to easily find you.  Digital businesses must be at the forefront of social media and internet relevancy, seen and mentioned on high trafficked websites, and mentioned + reviewed by trusted influencers / global & regional media outlets. Psychical businesses, whether they are Food & Beverage, Service Oriented, Retail Environments, etc. must create an unforgettable world within themselves; design-forward businesses supported by superior product and service, stand the tests of time. Through design, businesses must aim to be unforgettable, striving to evoke a ’Sense of Space & Place.’ When a customer feels emotionally connected to your aesthetics (physically or digitally) and product, you have converted them into a brand ambassador. These customers will be repeat visitors and will naturally recommend you to their ‘Circle of Influence’; word of mouth marketing is far more powerful than paid advertising. 

Thank you for reading! I hope you enjoyed this short source of inspiration, and as we all navigate this ‘new normal,’ the Louis & Steen’s Team is encouraged to share our experiences and skill sets with you. We believe open and honest dialogue is the best way to learn from one another. 

 

Brewing Love,
Quinn Russell
Co-Founder & Marketing Director
Louis & Steen’s New Orleans Coffeehouse

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