John Paul Dejoria is an entrepreneur best known for co-founding Paul Mitchell Systems, a haircare company and Patron Spirits, a world renown tequila brand (I’m sure we all had a few shots). Forbes Magazine estimates his net worth to be approximately $2.9 billion. I think it’s safe to say he’s had some success in business. Paul recently dropped a few gems on the key ingredients to starting a successful business.
1. Be The Best In Your Category
Make the best product you possibly can. The end result should be when the consumer tries your product or service it is something they want again.
2. What’s Your Story?
Have a story behind your product that is true. Be authentic. Then be willing to tell enough people your story and why your product is the best. You can have the best product in the world but if no one knows about it what good is it?
3. It’s Cheaper to Keep Her
Once you get a customer put your personality into it and really let them know how much you appreciate them. It’s harder to get a new customer than it is to retain your existing customers. Pay great attention to your first customers. They will be your ticket to new ones via word of mouth.