In my world, I always become even more motivated and excited to achieve bigger things if someone tells me that it cannot be done.
Use your differences
As an entrepreneur in a new country, it’s easy to get distracted at the start. You see opportunities everywhere and always have too many ideas.
It is therefore important to have a clear picture of what you want to achieve, as well as what you don’t want to achieve, in your first year.
It will help you to move closer to what you want to achieve, and you will have a clearer drive and direction.
As an expat entrepreneur in Denmark, it is also very important to use your differences: strength, culture, values. This is what will make you stand out.
The fastest way to success is to find the gap in the market in the business you want to go into.
Always aim big
When I launched my startup in Denmark, I made a clear and quick calculation that I must generate a high-profit margin with high ROI in one to three years in order to expand faster in the real estate business.
My goal was always clear: I must see a ‘gain’ – even in the first year. I didn’t want to spend years trying to get back my investment. If you can’t see a ‘gain’ from the start, then it’s probably not the right market or right time.
My profit margin needed to be high but my investment capital not too large.
Most importantly, I didn’t want the business to rely on having many employees, even though I knew my time and energy would be limited at the beginning.
Let’s inspire each other
Too often, you will hear that you should stick to the market price – but while this advice is often right, sometimes it is worth questioning it? It might, after all, inspire you to create something new.
If your value and your market are markedly different, why do you need to follow the so-called market price? The big potential lies in creating your own value in your own market.
In some cases, doing the opposite to your competitors, instead of just copying their model, is the key to achieving more.
Identify the gap in the market and provide what is missing in the business.
Follow Winnie’s World so we can inspire each other, and please connect with me on LinkedIn at ‘Winnie Tang Tango’.