What Does it Take to be a Successful Entrepreneur

 Successful Entrepreneur

Lets see if you have what it takes to be a successful entrepreneur.

Starting your own business can be an exciting and rewarding experience.

It can offer numerous advantages such as being your own boss, setting your own schedule and making a living doing something you enjoy.

But, becoming a successful entrepreneur requires thorough planning, creativity and hard work.

Consider whether you have the following characteristics and skills commonly associated with successful entrepreneurs:

Comfortable with taking risks:

Being your own boss also means you are the one making tough decisions.

Entrepreneurship involves uncertainty.

Do you avoid uncertainty in life at all costs?

If yes, then entrepreneurship may not be the best fit for you.

Do you enjoy the thrill of taking calculated risks?

Then read on.

Independent:

Entrepreneurs have to make a lot of decisions on their own.

If you find you can trust your instincts and you are not afraid of rejection every now and then, you could be on your way to being an entrepreneur.

Persuasive:

You may have the greatest idea in the world, but if you cannot persuade customers, employees and potential lenders or partners, you may find entrepreneurship to be challenging.

If you enjoy public speaking, engage new people with ease and find you make compelling arguments grounded in facts, it’s likely you are poised to make your idea succeed.

Able to negotiate:

As a small business owner, you will need to negotiate everything from leases to contract terms to rates.

Polished negotiation skills will help you save money and keep your business running smoothly.

creative entrepreneur

Creative:

Are you able to think of new ideas?

Can you imagine new ways to solve problems?

Entrepreneurs must be able to think creatively.

If you have insights on how to take advantage of new opportunities, entrepreneurship may be a good fit.

Supported by others:

Before you start a business, it’s important to have a strong support system in place.

You’ll be forced to make many important decisions, especially in the first months of opening your business.

If you do not have a support network of people to help you, consider finding a business mentor.

A business mentor is someone who is experienced, successful and willing to provide advice and guidance.

Still think you have what it takes to be an entrepreneur and start a new business?

Here are mistake entrepreneurs make.

You will undoubtedly make mistakes, as most entrepreneurs do.

But you can also learn from the mistakes of others.

Entrepreneur mistake

Here are some of the most common mistakes entrepreneurs tend to make, as expressed by a typical entrepreneur.

1) The Seasoned Entrepreneur one who has made plenty of mistakes, says, “The next time I start a new venture…”

I will make sure I have sufficient start-up and back-up capital.

Nothing is as sure to kill a new venture as running out of money early in the game.

If your plan says you need a certain amount of capital, get it and a little more, for back-up.

2) I will be certain there is a market for my “great idea” before I run with it.

I will never be caught with a “solution in search of a problem” again!

3) I will spend more time and care managing the business.

I don’t like to deal with details, but somebody has to or the business will suffer.

Next time I will hire a manager to do right what I was doing ineffectively.

4) I will know something about the business I plan to start.

Nothing is as sure a sign of impending trouble than an entrepreneur who asks, “how hard can it be?” when they have never before done whatever “it” is.

I will stick to a business I know, or I will make darn sure I learn about it before I start.

5) I will have “It’s the cash flow, Stupid!” tattooed on my forehead.

Cash-flow problems are easy to understand.

If your suppliers give you 30 days to pay, and you give your customers 60 days to pay, the cash will flow out before it can flow in.

Duh.

Entrepreneur partnership

6) I will have a lawyer draw up my partnership agreements.

I will not let my partners become “former friends.”

7) I will know my competition as well as or better than my competition knows me, and I will look for competitors where I least expect to find them.

I will stay on top of new developments.

I will never stop learning about my business and my customers.

8) I will plan for success and growth.

Too much success is a bad thing if you are not prepared for it.

9) I will maintain a balance in my life between work and family.

I will not let my success go to my head.

I will learn how to count up to ten.

I will not try to make two and two equal five…

Just because I’m so sure things will turn out better than I have any good reason to expect they will.

Characteristics of a Successful Entrepreneurs

Entrepreneurs are different from each other, but successful entrepreneurs tend to share certain characteristics.

Not all of them have developed each of the following to the same degree, but they tend to have developed most of them to some degree.

Here are some common characteristics of successful entrepreneurs.

Successful Entrepreneur

Entrepreneurs tend to:

·       be passionate about achieving their goals
·       have a spirit of adventure (in fact, the word “adventure” is derived from the Latin word meaning “to venture”)
·       have a strong need to achieve and seek personal accomplishment
·       be self-confident and self-reliant
·       be goal-oriented
·       be innovative, creative, and versatile
·       be persistent
·       be hardworking and energetic
·       have a positive attitude
·       be willing to take initiative
·       have a strong sense of commitment

The key to becoming an entrepreneur lies in the implementation of basic concepts and there are only 11 simple secrets to learn to make it happen.

But there is no need for you to carry out this task with the precision of a military field manual.

Successful Entrepreneur

The secrets are simple to learn, but don’t let their simplicity fool you:

Secret 1: Build parallel interests.

Secret 2: Be an architect of the future.

Secret 3: Be decisive, multifaceted, and ethical to a fault.

Secret 4: Know the risk and measure the reward.

Secret 5: Communication and be a shower not a teller.

Secret 6: Power to the people.

Secret 7: Become a trust builder.

Secret 8: Sharing wealth increases wealth.

Secret 9: Be constant, consistent, and concise.

Secret 10: Treat important people like important people.

Secret 11: Do simple things and simply do them.

Learning These Secrets

The important thing to remember in putting these 11 practical secrets to work in your life and in your business is to remember that together, they present a cohesive philosophy for being an entrepreneur.

When I say philosophy, I mean that these secrets are a way to think and behave, and as such, it’s extremely difficult to distill them into a series of steps the would-be entrepreneur can invoke like a some-assembly-required Christmas toy.

The reality is that these secrets do not stand alone.

They are interdependent.

It’s not like you can accept five of the secrets and ignore the others.

This really is an all-or-nothing proposition and a little like constructing a building.

Each of the beams used in a building are strong and, in and of themselves, important.

However, no single beam or even several are enough to support the building.

They all need to be used and put in their right place.

When in place, they support each of the other beams.

Using the secrets to build an entrepreneurial culture is much the same.

The Life of an Entrepreneur in 90 Seconds- Best Motivational Video for Entrepreneurs

So how do you feel about being a successful entrepreneur?  

I’d love to hear it in the comments below… 

Here is another good blog to read: 7 must-know tips from successful entrepreneurs

Read my latest blog on: Key Characteristic You Need to Become a Successful Entrepreneur

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About Maria Barina

Maria Barina is a mother and grandmother who worked for the NYC Board of Education as Laboratory Specialist Bio/GS for 26yrs till the age of 56. Her husband, after 37 of marriage, passed away from Lung Cancer. She came to myEmpirePRO to seek guidance on how to get freedom that an online business can provide. Freedom to her is being able to do what she wants, when she wants to and to show others they can do the same to. Since she done that she is able to do this by working anywhere she goes and became a mobile-prenuer

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