Monday, 7 August 2017

Qualities of An 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.
Read more


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.

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