Jacob Barbosa on Entrepreneurial Success Strategies

(Newswire.net — April 12, 2018) Newport Beach, CA –Many people dream of owning their own businesses. Being financially independent and successful as a business leader is more than just having a good idea, however. Many would-be entrepreneurs struggle with taking their ideas and making a lucrative business venture out of it. Jacob Barbosa, a noted serial entrepreneur and expert in the distilled spirits industry, knows that several key strategies can spell the difference between success and failure in launching a new venture. He knows that successful entrepreneurs need to be able to predict market shifts, identifying trends before competitors can. “A great entrepreneur must be able to see the future, in a sense,” says Jacob, founder of Mex Punch and CEO of Pacific Coast Spirits, LLC. “He or she must analyze trends, then move to capitalize on them to reach customers with the products or services that interest them.” 

The first and most important strategy in business launches is for entrepreneurs to understand that they must be open to change. There is always new information or tactics to learn, and there are many different approaches to try before success flourishes. Remaining flexible in developing the business can help entrepreneurs take advantage of emerging markets more effectively. Another proven strategy is for entrepreneurs to look to other industries for insights. Technologies and ideas used in other markets may be employed in another sector, potentially creating commonalities between differing markets. Another key ingredient in creating a successful venture is to develop the proper mindset. Focusing on the possibility of failure can create artificial obstacles to overcome and limits the potential of success. Rather, entrepreneurs should take steps to develop a positive mental attitude, embracing opportunities instead of fearing them.

Social media has become ever-important as a marketing tool, and entrepreneurs need to leverage the power of social media platforms in all aspects of the business model. Social media helps create connections with new customers, reinforces the relationship with existing customers, and can even be valuable in recruiting talent to a new venture. Regardless of intent, many people look for information about a given company, and most turn to online searches. Having a robust online presence is critical, and in that presence, companies must strive to present a professional, accurate and information-rich environment to visitors.

Finally, Jacob Barbosa and other business leaders recommend that entrepreneurs manage the growing business as efficiently as possible. It can be common for new business owners to overextend themselves, either financially or in time devoted to the daily operations of the venture. Entrepreneurs need to move quickly to capitalize on new opportunities, but not at the expense of existing markets. Efficient product development and manufacture, lean business operations, and a quest for continual improvement set the stage for an efficient, well-managed, and successful business venture. For more information on Jacob and his success in the craft distillery industry, visit https://www.crunchbase.com/person/jacob-barbosa/.