10
Steps to Becoming a Successful Entrepreneur
Succeeding as an entrepreneur takes hard
work and persistence because,
unfortunately, there is no business-startup fairy who magically bestows success
on small businesses and their owners.
Most successful entrepreneurs follow comparable patterns and
share similar basic characteristics. Hundreds of online articles and
published books claim to know the secret of success in business, but for the
most part, they boil down to the same major points.
Passion, perseverance and a positive
attitude tend to set successful entrepreneurs apart. Cultivating these attributes requires an innate
skill set and some tips to get started.
So here are the main items to take into
consideration if you’re trying to develop a business platform. These elements
constitute will support a smart strategy for any new enterprise:
1. Love what you do.
Passion is key to keeping a business
strategy moving.
Half-heartedness in an entrepreneurial endeavor will chip away at your drive to
succeed. Perseverance is the one thing that’s guaranteed to move anything over time,
whether it’s a person, a job or an entire company. Abraham Lincoln failed at most of his efforts until late in his life,
but he never gave up.
2. Take baby steps.
Jumping all in is rarely ever successful. There are
success stories about people who invested everything once and came out winners
after six months or a couple years, but those are rare. Risk management is an
essential factor in any startup, and balance is vital. You can absorb losses more easily if you take smaller risks in the
beginning. Those will provide essential and productive lessons.
3. Learn from others.
Successful entrepreneurs often worked for others in
their field of choice before striking out on their own. Spending a few years in
the industry under an excellent mentor will provide a good launching pad. Learn from your predecessors’ mistakes and brainstorm about
how to improve upon their model. Find someone willing to teach, and
think about starting your business elsewhere when you leave.
4. Learn how to self-promote.
Confidence and a good elevator speech can take any
pitch to the next level. The first marketing any company experiences comes from
its founder. Spend time learning how to share your vision without coming across
as “salesy.” Don’t be afraid to ask for the sale, but remember: the client is
always the focus.
5. Constantly take action.
Entrepreneurs are movers and shakers. They can’t
afford to analyze every detail or they’d never get anywhere. There is no place
for procrastination in a startup. It’s a 24/7, no-vacation-or-sick-days kind of
job that demands constant forward momentum. Make a brief assessment at every
step and move on it. Trust your instincts.
6. Make a plan.
Read about successful businesses. Take in the wealth
of knowledge that’s been provided by successful entrepreneurs such as Steve
Jobs and the personalities from Shark Tank. A successful business plan
does not have to be a book. A 10-page plan is digestible yet long enough to
include everything you need to start.
7. Build a reputation.
According to Brandi Bennett at
HostGator.com, maintaining a blog on a well-hosted website, or
volunteering your time and skills, shows instead of tells the community, and
thereby builds expertise and trust.
8. It’s never too late to start.
Many successful entrepreneurs started
later in life. J. K. Rowling (Harry Potter author), Julia Child (chef), and Sam
Walton (Wal-Mart) all started their wildly successful brands after they were
comfortably along in their lives.
Having the experience that comes with age can give you a unique outlook on your
business. Life experiences bring depth that the most educated young adult, by
his or her nature, is less able to foresee.
9. Build your "A team".
Finding the skill sets and attitudes that support
the culture of the brand you want to promote will foster innovation and enhance
your reputation. Include folks from outside the company for the people you
rely on. That will start a free marketing chain reaction that can build
confidence and revenue.
10. Be mindful of your attitude.
The attitude of the founder will set the tone for
the business. Negativity, laziness and entitlement waste time and
money while they tarnish your reputation. Success largely depends on
making mistakes and accepting blame in stride. Owning up to and facing
challenges head-on is what makes a mere business owner a leader.
Starting a business can wreak havoc on the owner’s
personal life. While all the above tips are necessary for success, taking care
of yourself mentally and physically is also imperative. Exercise,
sleep and diet play a central role in ensuring you implement these
policies successfully. All of them drive attitude, motivation and
relationships.
Successful CEOs tend to follow a
structured, daily schedule of rising early, exercising, having snacks on hand
for fuel and socializing many evenings of the week.
Striking a balance may take a while, but working
toward this list as a goal for starting your company will make the difference.
How an owner feels about progress and how quickly a business can be up and
running -- and feeding that bottom line -- will swiftly feel the impact.
Note :
If Clause : Bold
Present tanse : Red
Present perfect
tense : Blue
