Entrepreneurship is synonymous with risk-taking and innovation for a reason: those who uncover the right leap to take can be immensely successful. Here are five approaches and real-world case studies to consider if you’re thinking about taking the leap into entrepreneurship!
Find your niche – and lean hard into it! The problem: most general practitioners do not have the specialized training to provide advice on the variety of diseases endemic in countries throughout the world. Studies have shown that primary care providers are much more likely to prescribe inappropriate medications for malaria prevention and travelers’ diarrhea, and often recommend unnecessary vaccines for travel.
That, plus the fact that vaccines differ from country to country, and not having the right ones can end up with you being denied entry, was the idea behind TravelBug Health, a full-service travel clinic in Scottsdale, Arizona. In 2013, they set up a one-stop shop for pre-travel consultations and vaccinations, and quickly grew in size! Since the onset of the pandemic, this innovative business gained even more clients, becoming the chosen provider of pre-travel COVID testing in the Valley. Thet have performed over 10,000 antigen and PCR tests for symptomatic patients and those needing COVID-19 tests for travel worldwide.
Directly address the intimidation factor. There are many reasons why people don’t invest, and fear of the unknown is often at the top of the list. When there’s no experience in the often-intimidating world of investing, many worry about the return on investment, or the lack of guarantees on the money spent, and what it will ultimately cost them to get assistance.
Recognizing this need in the community, Equalseat was created to offer accessible opporutnities for individual investors, working to bridge the gap to instistutional quality fixed-income investments. With low minimum investments, EqualSeat is democratizing access to investments in small business debt. Plus, innovative technology with EqualSeat’s debt investment platform makes investing in quality small business and clean energy loans easy and convenient for everyday individual and accredited investors.
Turn the expensive and complicated into simple and cost-effective. Printing costs can eat up a marketing budget in no time, along with hours of time going back and forth with print vendors. That’s why companies like ZoePrint.com have created a printing company that makes cheap printing easy to obtain and accessible for small businesses, individuals and non-profit organizations. To do so, they’ve undertaken several changes, including stripping out much of the usual complexity of ordering printing, offering a limited range of products with no custom bindery, and limiting paper stock options to their most popular papers. They also offer custom web portals to franchises for easy ordering and online proofs!
Embrace new ideas on how to improve quality of life. People around the world are recognizing the benefits of alternative medicines that will help them achieve and maintain optimal health without requiring invasive treatments such as surgery. For example, functional medicine is a medical practice that focuses on optimal functioning of the body and its organs, usually involving systems of holistic or alternative medicine. In contrast to traditional Western medicine, which often focuses on treating symptoms, functional medicine seeks to heal your body’s core problems, often through a customized diet and exercise plan coupled with dietary supplements and laboratory testing.
The term Epigenetics is the study of how your behaviors and environment can cause changes that affect the way your genes work, and that’s exactly what happens at the Epigenetics Healing Center in Kansas City, Missouri. Their focus on functional medicine has driven their clientele and retention to new heights!
Find ways to stand out in your stuffy industry. Innovative insurance? It’s hard to believe, but smart companies are realizing that, in the 21st century, making pivots are necessary to get ahead of the competition. Berglund Insurance has been in the industry since 2006, and their agents have won several awards for their exceptional knowledge and skill in the insurance industry. Recognizing the new challenges of a digital-first world, they now offer innovative insurance options such as data compromise coverage, or data breach coverage,which helps to protect against any associated legal or other costs in the event that personal data of employees or customers is stolen or accidentally released.
In order to succeed as an entrepreneur, one must first understand what it takes to build a business. This includes understanding the risks involved and taking calculated leaps of faith! But when you succeed, you can reap big rewards, like the five companies listed in this article.