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The 3 shared traits behind successful entrepreneurships

It took me fourteen years of research that included following 120 entrepreneurs from their first stages, Interviewing more than 200 successful entrepreneurs, and listening to thousands of them. Here are the three factors of the Formula for Entrepreneurial Business Success.

1. New / Non- existing thing - that\\u2019s needed

Jon Lee Dumas invented a daily podcast, Jeff bullas started to write about social media when the first innovators seeked for information, Mike Stelzner started to share content for free, Douglas Burdett started to interview authors of new marketing books, John Nemo cracked the code for selling through LinkedIn, Pam Wasley established the interim executive model, Mike Allton built websites for clients and shared content about social media to find more customers when he realized that what his customers really wanted was to learn about how they can use social media. So, he became a blogger and social media educator. and the list goes on.

You don\\u2019t need to be the first, and you don\\u2019t need to be the only one in the world that offers that product or service, you do need to be the first or unique among your target audience.

The story I heard in my interview with Mike Allton is a great example not only for choosing a new needed service (or in that case, information) but what it takes to find it.

Mike Allton

Mike Allton is a Content Marketing Practitioner, award-winning Blogger, and Author in St. Louis, and the Chief Marketing Officer at SiteSell. He has been working with websites and the Internet since the early \\u201990s and is active on all of the major social networks.

Mike teaches a holistic approach to content marketing that leverages blog content, social media and SEO to drive traffic, generate leads, and convert those leads into sales.

Mike\\u2019s entrepreneurship

• I started the Social Media Hat back in 2012. At that time, I had been building websites, and as part of that website business, I was blogging about social media marketing in order to give my prospects and customers helpful information. It didn\\u2019t attract people who needed websites, it attracted people that already had a website and wanted to learn about their social media opportunity.
• So, as a result, I wasn\\u2019t growing my online business, but I discovered that I like to write and I like to teach people how to use social media blogging.
• I realized that the content doesn\\u2019t help to sell websites, however, I decided to create a site about social media blogging and that what I did.
• I\\u2019ve used my site as a testing ground for anything related to online marketing. I execute the test and write about it and I found out my audience really appreciates those kinds of insights.
• And in the meantime, I was experiencing making money through the website and I tested that as well. Affiliate relationships, Google AdWords, Display ads, and many other monetization techniques. The most successful way to make money is to have a product that can you sell a lot of, so it can scale.

2. Technology is a success factor

Andres Pira started to use VR systems that allow his real estate clients to walk through and see what they are buying, without actually being there, and sold an extensive amount of units just with this technology. Doroth\\xe9a Bozicolona-Volpe uses technological listening tools to focus on understanding customers\\u2019 needs to help her clients make their digital transformation. Paul Bratby got some geeks that turned his trading strategy that hasn\\u2019t lost a quote for 15 years, into a software. Mellissah Smith worked with a development team that developed the technology for developing automatic marketing strategies without a human.

You don\\u2019t necessarily need to develop a new...'