How Can You Be A Serial Entrepreneur in the Online Business with Marc Andre – AEP #7

Guest: ​​Marc Andre
Business web site | ​Facebook | Twitter​Pinterest

​Marc has been a full-time online entrepreneur since 2008. He's built websites and blogs in a few different industries including web design, photography, travel, and personal finance. He's sold several of those past projects and currently his main focus is the finance blog, VitalDollar.com.

Show Notes:

1:14 minute mark:

Agile entrepreneur takeaway: Entrepreneurs must address the ‘Why’ very clearly to get started.

Mark talks about the reasons for quitting his auditor job and starting his own website building business. Primary reasons are lack of opportunities for growth in his job and dwindling group. The side hustle he was engaged in started taking off so he quit his job.

4:55 minute mark:

Agile entrepreneur takeaway: Given that entrepreneurial journey is a long and hard task, it is important to get family support.

Mark talks about the support he received from his wife when he actually decided to quit. Given that there will be loss of income initially and long hours, he is grateful for the support he received. 

6:30 minute mark:

Agile entrepreneur takeaway: Managing transitions is very important and retrospection is important to ensure continued success.

Mark had an interesting story about how he managed to replace his salary with his side gig from day one and that eased his transition. After selling couple of his businesses, he thought about transition primarily because of burnout but finally decided to start another venture and continue the same path.

8:59 minute mark:

Agile entrepreneur takeaway: Time management is extremely critical for entrepreneurs and a To-Do list may be the most productive technique.

Mark shares his techniques for managing time. His primary go-to method is a To-do list that he maintains on a daily basis and checks off the items. Additionally, he also maintains a big picture yearly goals list as well. He uses Google docs and a notebook for his lists and goals.

12:00 minute mark:

Agile entrepreneur takeaway: Be proactive about outsourcing and plan for transition with freelancers.

Mark shares his outsourcing techniques. He uses freelancers for content, graphics etc. and his experience is that even though he finds good freelancers, after some time they move on. So he needs to be proactive. Also, he tried many tools for managing other parts of his business (like accounting) but always went back to simple tools.

16:52 minute mark:

Agile entrepreneur takeaway: Be very clear about your target customers.

Mark is very clear about his target customers. For example, his target customers for his latest venture vitaldollar.com are people like him ten years ago. He leveraged his personal experiences to identify the target customers.

20:00 minute mark:

Agile entrepreneur takeaway: Find what you like to do. Assess what you are good at. And see if you can make money with what you like and what you are good at.

Mark gives 3 pieces of advice to would be entrepreneurs. First, find out what you like to do. Second, find out what you are good at. Lastly, for the things that match between what you like and what you are good at, research if there is a market for it and you can monetize it.

22:42 minute mark:

Agile entrepreneur takeaway: Specialize in a competitive industry to find your niche to grow.

Mark tells us not to be afraid of competition. Competition means opportunities. The way to approach competitive area is to specialize in your area. Example is, for a photography blog, specialize in wildlife photography, travel photography etc.

27:42 minute mark:

Agile entrepreneur takeaway: Just start doing it instead of worrying about starting a perfect business. You can always tweak the business.

Mark tells us not to worry about starting the perfect business or doing things exactly right from the start. You'll learn a lot more from doing than you will just from like sitting on the sidelines. One thing he said he could have done better is outsource more so he can focus on really important things.

​Episode Transcript (Click to expand)

About the Author Ramesh Dontha

I am an entrepreneur, writer, and blogger. I build businesses and love to share my experiences of my successes and failures. My mottos is: Live with purpose, Be Passionate about that purpose, Persevere through ups and downs and keep exploring Possibilities.

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