Entrepreneurship is about being the last man standing. It’s about having the determination, the discipline, and the cash to see it through. Most successful #entrepreneurs follow comparable patterns and share similar basic characteristics. While the behavior of every successful entrepreneur is unique, how they think is not.
Being a successful entrepreneur means more than starting new venturesevery other day. It means the right attitude towards a business and thedetermination and grit to achieve success.
A successful entrepreneur has a strong inner drive that helps him or her to succeed. Let us take a look at the qualities that go into making a successful entrepreneur.
Would you consider yourself a success? An insightful look at what it really takes to be a successful business owner.
I’ve been an entrepreneur most of my adult life. Recently, on a long business flight, I began thinking about what it takes to becomesuccessful as an entrepreneur—and how I would even define the meaning“success” itself. The two ideas became more intertwined in my thinking:success as an entrepreneur, entrepreneurial success.
I’ve given a lot of talks over the years on the subject of entrepreneurship. The first thing I find I have to do is to dispel the persistent myththat entrepreneurial success is all about innovative thinking and breakthrough ideas. I’ve found that entrepreneurial success usually comes through great execution.
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But what else does it take to succeed as an entrepreneur—and howshould an entrepreneur define success? Here’s my top 10 list, indescending order, for success:
How to Be a Success
10. You must be passionate about what you’re trying to achieve.
This means you’re willing to sacrifice a large part of your wakinghours to the idea you’ve come up with. Passion will ignite the sameintensity in the others who join you as you build a team to succeed inthis endeavor. And with passion, both your team and your customers aremore likely to truly believe in what you are trying to do.
9. Focus intensely on your opportunity.
This focus and intensity helps to eliminate wasted effort anddistractions. Most companies die from indigestion rather thanstarvation—in other words, companies suffer from doing too many thingsat the same time rather than doing too few things very well. Stayfocused on the mission.
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8. Success only comes from hard work.
We all know that there is no such thing as overnight success. Behindevery overnight success lies years of hard work and sweat. People withluck will tell you there’s no easy way to achieve success—and that luckcomes to those who work hard. Successful entrepreneurs always give 100percent of their efforts to everything they do. If you know you aregiving your best effort, you’ll never have any reason for regrets. Keepyour focus on things you can control.
7. The road to success is going to be long, so remember to enjoy the journey.
Everyone will teach you to focus on goals, but successful people focus on the journey and celebrate the milestones along the way. Is it worth spending a largepart of your life trying to reach the destination if you didn’t enjoythe journey along the way? Won’t the team you attract to join yourmission also enjoy the journey more as well? Wouldn’t it be better forall of you to have the time of your life during the journey, even if the destination is never reached?
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6. Trust your gut instinct more than any spreadsheet.
There are too many variables in the real world that you simply can’tput into a spreadsheet. Spreadsheets spit out results from your inexactassumptions and give you a false sense of security. In most cases, yourheart and gut are still your best guide. We’ve all had experiences inbusiness where our heart told us something was wrong while our brain was still trying to use logic to figure it all out. Sometimes a faint voice based on instinct resonates far more strongly than overpowering logic.
5. Be flexible but persistent.
Every entrepreneur has to be agile in order to perform. You have tocontinually learn and adapt as new information becomes available. At the same time you have to remain persistent to the cause and mission ofyour enterprise. That’s where that faint voice becomes so important,especially when it is giving you early warning signals that things aregoing off-track. Successful entrepreneurs find the balance betweenlistening to that voice and staying persistent in driving forsuccess—because sometimes success is waiting right across from thetransitional bump that’s disguised as failure.
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4. Rely on your team.
It’s a simple fact: No individual can be good at everything. Everyoneneeds people around them who have complementary skill sets.Entrepreneurs are an optimistic bunch of people and it’s very hard forthem to believe that they are not good at certain things. It takes a lot of soul searching to find your own core skills and strengths. Afterthat, find the smartest people you can who complement yourstrengths. It’s easy to get attracted to people who are like you; thetrick is to find people who are not like you but who are good at whatthey do—and what you can’t do.
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3. Execution, execution, execution.
Unless you are the smartest person on earth, it’s likely that manyothers have thought about doing the same thing you’re trying to do.Success doesn’t necessarily come from breakthrough innovation but fromflawless execution. A great strategy alone won’t win a game or a battle; the win comes from basic blocking and tackling. All of us have seenentrepreneurs who waste too much time writing business plans andpreparing PowerPoints. I believe that a business plan is too long ifit’s more than one page. Besides, things never turn out the way youenvisioned them. No matter how much time you spend perfecting the plan,you still have to adapt according to the ground realities. You’re goingto learn a lot more useful information from taking action rather thanhypothesizing. Remember—stay flexible and adapt as new informationbecomes available.
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2. Be honest and show integrity.
I can’t imagine anyone ever achieving long-term success without havinghonesty and integrity. These two qualities need to be at the core ofeverything we do. Everybody has a conscience—but too many people stoplistening to it. There is always that faint voice that warns you whenyou are not being completely honest or even slightly off track from thepath of integrity. Be sure to listen to that voice.
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1. Appreciate your success by giving back.
Don’t ever forget this part, arguably the most important part, of definingyourself as a true success. By the time you achieve your success, lotsof people will have helped you along the way. You’ll learn, as I have,that you rarely get a chance to help the people who helped you becausein most cases, you don’t even know who they were. The only way to payback the debts we owe is to help people we can help—and hope they willgo on to help more people. When we are successful, we draw so much fromthe community and society that we live in, we should think in terms ofhow we can help others in return. It’s our responsibility to do “good”with the resources we have available.
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How to Measure Success?
Hopefully, you have internalized the 10 lessons of becoming a successfulentrepreneur. The next question you are likely to ask yourself is: Howdo we measure success? Success, of course, is very personal; there is no universal way of measuring success. What do successful people like Bill Gates and Mother Teresa have in common? On the surface, it’s hard tofind anything they share—and yet both are successful. I personallybelieve the real metric of success isn’t the size of your bank account.It’s the number of lives where you might be able to make a positivedifference. This is the measure of success we need to apply while we are on our journey to success.
Still not a business person? Its not too late to start a business. check out our Home Business Ideas for Entrepreneurs and How to guides.
Editors Note: A successful entrepreneur always has a strong sense of self confidenceand a healthy opinion of their skills and abilities. Their personalityis assertive and strong. They are always focused and do not really dilly dally with the issues at hand. This is what makes them different fromthe rest.