Taking the plunge to start your own business is never without risk. The idea of plunging capital and a large quantity of time into a venture that might crash and burn is, understandably, something that holds many would-be entrepreneurs back. Enter Zachary Trebbi and Joshu Kiley. Two Tik Tok stars who have taken their online financial advice fame and turned it into a highly successful business – CEOWatchlist – offering stock market and investment education. Here are their three top business tips for new entrepreneurs to help their start-ups fly.
1. Collect Data From Day One And Learn How To Use It
Zachary Trebbi attributes the initial success of his stock market insights videos on Tik Tok to the hard work he and business partner Johsua Kiley put into researching and learning what was and wasn’t working in getting their message out to their audience. He says, “Gathering the data on how to market financial literacy to a younger generation while still making it entertaining was a difficult task.” He continues, “Through a lot of trial and error, we found the perfect combination of entertainment and education that was able to reach the eyes and ears of the social media crowds.”
For Trebbi and Kiley, that success was to the tune of 17 million views on just one video. Leveraging data paid off. He says, “We are firm believers that data and how to utilize that data efficiently is key to creating a successful business no matter what it is. The other half of the battle is simply putting in time and work.”
2. Have A Solid Plan, But Don’t Be Afraid To Adapt And Change
Trebbi and Kiley initially set up CEOWatchlist to share insights on stock market investments. They say, “During the pandemic, there was a clear rush to the stock market and investing as a whole”. Their initial plan was to follow the stock trades made by prominent CEOs and use that data to inform regular investment advice disseminated via Tik Tok. As their videos went viral, they discovered a real thirst for quality, reliable investment education.
Zachary Trebbi says, “We noticed there was a demand for proper education since the majority of information delivered on social media was either false or misconstrued. The amount of attention and positive feedback we received on our initial content led us to officially create a proper educational company to teach the masses the importance of financial literacy.” CEOWatchlist pivoted, and the online education program was born.
3. Be Patient
As Zachary Trebbi and Joshua Kiley say, “Being patient is one of the hardest things for an entrepreneur to do. A lot of people want instant gratification. But when you’re starting a business, if you aren’t ready to struggle for a couple of years, then it might not be for you.” The rapid growth CEO Watchlist experienced over a short time was a challenge for Trebbi& Kiley.
According to Trebbi, the duo had to “slow down growth on purpose to find a way to meet the tremendous increase in demand while maintaining the quality of our services. We had to essentially halt sales to properly build out the infrastructure of the business”. He adds, “We had to create a business plan, a proper website and figure out how to properly manage our time and resources.” Stopping sales may seem counterintuitive for a start-up, but having the patience to assemble the necessary building blocks of their business has been vital for the long-term future of Trebbi and Kiley’s company.