CelebExpert's 5 Keys That Any Successful Entrepreneur Can't Live Without

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CelebExperts President & CEO Evan Morgenstein reflects on the common mistakes of most budding entrepreneurs and how to better navigate the entrepreneurial process.

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I have been an entrepreneur for well over 20 years. Social media has changed so much of what we do and how we do it, it is the core principals that we establish as gospel that lead us to success.

CelebExperts President & CEO Evan Morgenstein has shared a list of 5 key insights that can help today’s entrepreneur build a firm foundation for the future. A full-time entrepreneur since 1996, Morgenstein created his own multi-million dollar business representing Olympic athletes and assisting companies in hiring celebrity influencers for traditional and social media marketing campaigns.

According to a recent nationwide survey conducted by Allstate and USA Today, 61% of small businesses surveyed reported they were doing well. Almost 80% said that in the past 3 months their business had grown the same or more than it did during that same time period last year. Today’s economy begs for innovation and that’s why so many individuals have chosen to start their own business in 2016.

Yet the confidence, excitement, self-doubt and fear of entrepreneurship can easily lead to quick decisions and a misunderstanding of what’s most important for a new or growing business.

Morgenstein commented, "I have been an entrepreneur for well over 20 years. Social media has changed so much of what we do and how we do it. It is the core principals that we establish as gospel that lead us to success."

Below are 5 key insights to help budding entrepreneurs focus their efforts in the right areas:

5. Most entrepreneurs start off with an idea but no plan! A great idea will never be realized without a well-thought out plan of action for the immediate future and beyond.

4. While it is a great story to say you started with no money in the bank, it actually isn’t a great idea! Underfunded just means a slower path to success. When creating a new business, there has to be a middle ground between taking risks and working within one’s financial means.

3. Too little research is done internationally about the current industry conditions. Innovation is global and so are many competitors. Entrepreneurs must take into account the entire marketplace and not just a domestic sample size from which important business decisions are made.

2. Setting goals are important, but deadlines are essential. Without timely execution, any great idea can fizzle or be replaced by a newer, better idea. Deadlines streamline the brand building process and help eliminate complacency in the creation of a successful business.

1. Time Management is the most important factor in creating a successful business. The most valuable capital for any entrepreneur is time. A narrow focus is imperative to accurately assess goals, needs and the means to execute them as quickly and effectively as possible.

About CelebExperts

CelebExperts is a leading consulting firm dedicated to demystifying the celebrity acquisition process and finding creative solutions to effectively market your brand, leveraging the power of a celebrity. For more information on how your brand could utilize a celebrity talent as a spokesperson for upcoming marketing campaigns, please contact our team at consulting(at)celebexperts(dot)com or give us a call at (919) 459-5426.

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Evan Morgenstein
CelebExperts
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