You must have read a lot of articles about successful business tycoons, seen their smiling faces on television and social media and said to yourselves “I want that.”
Being a successful entrepreneur takes a lot of hard work and persistence. Unfortunately, you cannot cast a magic spell and make your business thrive.
Many of the entrepreneurs who are successful share similar patterns and basic characteristics. Many articles and books claim to give out the secret to running a successful business but, most of them have identical points.
The primary attributes that make successful entrepreneurs shine from the rest are passion, determination, and positive attitude. Cultivating these traits is no easy task, but most of them can be learned through constant practice.
- Enjoy what you do
“Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.” – Albert Schweitzer
When you ask people how to be successful, everyone will tell you to focus on your goals. But, most successful people focus on their journey and celebrate even the small milestones. Ask yourself this question “Is it worth spending all your time on something that you don’t enjoy?” Don’t you think you will enjoy the process more if you have the time of your life? So bear this in mind, if you don’t enjoy what you do there is a good chance that you won’t succeed in it.
- Time management
“A man who dares to waste one hour of life has not discovered the value of life.” – Charles Darwin
Being an entrepreneur, it’s obvious that you’ll work day and night and sometimes during the weekends too. If you’re not willing to dedicate the time and energy to achieve your goal, then you must stop now. Building a successful business may even require you to be focused for years because it will take twice as long to achieve what you have in mind. In the process don’t forget to take care of yourself. Make sure you get enough sleep, eat right and exercise regularly. The business you run is your “everything.”
- Manage your money properly
“If you don’t know how to care for money, money will stay away from you.” – Robert Kiyosaki
The survival of any business entirely depends on its cash flow. You have to pay for services, promote your business, pay the salaries of people working for you, and pay for yourself too. Therefore you have to be a wise money manager and keep the cash flowing to pay your bills and earn some profit too. These are the two areas that require your concentration
- Money you receive in exchange for the goods and services you have provided
- Money you spend on supplies, wages, and inventory
- Make an investment in yourself
“Invest in as much of yourself as you can, you are your own biggest asset by far.” – Warren Buffett
Read a lot of books, magazines, reports, and publications. All these resources will help you to get a better understanding of your industry. Also, join business associations and clubs so that you can get in touch with other entrepreneurs and learn how they succeeded. It will help you to define your own goals and objectives. Apart from this, attend seminars, workshops and training courses. Never stop investing in the most effective tool at your disposal-“you”.
- Accepting failure
“Success in not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
Know that every attempt you make won’t be successful. Sometimes your failures will outnumber your triumphs. So don’t be hasty, look at failure as an opportunity and learn from it. Don’t think of failure as a problem, think of it as a something that you’ll vanquish. In the process, you’ll make many mistakes. But, don’t let the fear of making mistakes stop you from trying. Abraham Lincoln failed many times, but he never gave up. Take responsibility for your failures and keep moving forward.
Do not worry about fitting into the perfect image of an entrepreneur; listen to your gut instinct. If it’s on board, then you have nothing to fear.
If you don’t see any improvement in your performance indicator, keep iterating until you’ve found a winning combination to sell your products. It will be an incredible experience when you finally see them succeed in the market. All of the struggles and obstacles you faced will be worthwhile, and you won’t regret them. In fact, you will be motivated to work harder each day.