Become a successful Entrepreneur
This article is for people who want to get inspired to become an entrepreneur, neither does it have any age confinement, as one cannot restrict an individual to become a successful entrepreneur. It is certain that if you are reading this article, you have the aspiration to do something different and bring on a constructive change in society.
Peoples who are at a fixed mindset, they always like to stay in their comfort zone. Peoples with a growth mindset would definitely need to have guts to go through the toughest and roughest time; you must love exploring new things. There would be many situations during your business where you may have to take an independent and bold decision. Companies have their own challenges during every stage of their lifecycle journey. Every single day comes with own challenges and success story. But the leader of the organization, who is a mentor, visionary and entrepreneur should find the warrior's team member or he will build the team which will become the warriors to face the challenge.
As such any new ideas sound crazy and its difficult to find the guys who would believe you, trust you and support you. So my suggestion for the entrepreneur, do not just build up a team rather try to build up a relation as a family. You should be head of the family and have the last served bit of the food (success) after you serve to your family, they are your highest priority. You need to do this if you really dreaming up to build up a world class product and build up a world class team.
Technical skills, communication skills or any other skills could be learned and enhance within. Being an entrepreneur not only you have to deterministic but mentally strong enough. Taking your first step towards your dream is one of the happiest moments. When you start the things from scratch it’s not going to be easy to understand the basics or the fundamentals of the business. You would learn many things during your journey as it’s not wise to become a one-man army. You are bound to observe the challenge at every stage of your business, from the time when selecting the team to a first successful sale. But things would be smoother when you have a start-up mentor/coach. Be careful in choosing a start-up coach, he must have certain quality like he must have a good network, believe in your idea and trust you. Most importantly, you must feel comfortable to discuss with him the real-time issues. Start-up coach also helps you in much legal work and helps you in completing time-consuming work in a more organized and systematic process. He would also help you in the initial business development idea. There are two ways you can offer these mentors either by paying as a contractual or you offer him the stake of the company to get best out. I would write up another article by keeping a focus on start-up coach, whereas this article would be focused on entrepreneur quality and its skills.
I do not believe that peoples have the inborn quality to become an entrepreneur. But as you are determined mindset for your start-up, it automatically builds up some quality within during your journey. These qualities are built up within you due to any situation and circumstances faced during the journey. I do not recommend in this article that to become successful, you must have the below skills rather I would share few qualities those are observed common across a few of the successful entrepreneur:
Calculated and Logical:
You need to have enough data to start and run your business. Be calculative and logical from the gathered information about your target customer. Initially focus on a small section of the business where you could compete and succeed then you can expand your business rapidly.
Motivated and Focused:
You must be passionate, self-confident and try getting the perfection to any job that you planned to work on. Add your enthusiasm in hard working to stay motivated and succeed.
Vision:
Vision should be very specific rather than generic as that is the goal set by you and your company. The vision of a company could be achieved through strategic planning and execution. To set up a vision for a company, you must create a short term goal and a long term goal.
Decisiveness:
Setting up the priority of the task and decision making are few very tough jobs as those would decide the fate of your product. You may have to take some tough decision at personal and official life to achieve success.
The failure decisions are more as compared to success in a start-up but you must be decisive in nature to understand where to say quit and move forward. As sometimes overpowering the project with the volume of money, time and decisions would take you to unrecoverable debts.
Practical and confidence:
Being practical and confidence are major factors for your success. You must ask yourself, Should you work on it? Are you confident do it? You must answer them and courageous to work with respect to achieving success.
Flexibility:
You need to adopt new changes and solve the problem as the situation demands. You must welcome and collect all kind of feedback and suggestion but take the final call by yourself in prioritizing the need as per the market demands.
Product and Market Knowledge:
You know your product more than anybody else as you have already researched and have also worked on it for some time.
Either you are going to enter into the market with a different business value or creating a new sector for yourself or similar business which would provide an alternate solution for customers. The market is very big to accommodate similar businesses and they can co-exist.
Strong Money Management:
It takes time before any venture become profitable. So, strong money management is very very important to keep your dream alive. Always plan you're financial for present, future and keep aside an emergency fund to keep you and your loved one safeguarded during challenging times.
Networking: The right connection:
Networking and publishing your business to the right peoples in very important and Vitale. As it connects to the right peoples and right users of your product. Making and distributing to an unfocused set of the user with waste and reduce your production adoption rate.
Try to collaborate with technical team or group of peoples if you are good at the business side and vice versa. Both business and technical implementation are cumbersome and needed a dedicated brain and energy to get the best result.
Creative and courageous:
Creative does not mean that your business idea needs to be out of box rather outstanding idea depends on the team. So, every team member should have the same level of knowledge to get the best result and productivity, which in turn help in developing a creative product.
By default, you are courageous as you are working on something which is uncertain. You are risk takers but plan and reserve your bandwidth for unknown risk.
Passionate and Patient:
There are many skills that are required to be successful but passionate and motivation are must and highest required skills.
Be patient for your idea as few execution outcomes the result right away and some take time. In either case be passionate, patient and professional.
Thank you all who have contributed to this article by sharing your experience and best practices.
A good idea will keep you awake during the morning, but a great idea will keep you awake during the night. — Marilyn vos Savant — BrainyQuote
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