Running a business successfully takes more than just making plans. It takes careful execution of the said plans and the readiness to face the outcome, whatever it may be. While no one can guarantee that your plans will lead you to success, you can be certain of the fact that every experience you gain will bring with it a lesson, irrespective of whether you succeed or not.
As a budding entrepreneur, you’re bound to feel overwhelmed at times. Rest assured, you aren’t alone in this. Running a business successfully is no mean task, especially for an amateur. It is important, however, to stay positive and continually challenge yourself to perform better.
Wondering what it takes for up-and-coming entrepreneurs to make it big in the business world? You’ve come to the right place.
Entrepreneurs Remember the Why
Break up the word ENTRE-PRE-NEUR to understand the fundamental rule of building a flourishing empire. Entrepreneurs need to figure out why they need to “ENTER” a space in the first place. Is it just the money? Or is it passion? Being passionate about your work is a skill. Have you seen anyone succeed because of plain luck and no passion? You can’t stay in business if you don’t have the will to sustain it. Entrepreneurs find out what their strengths are and work on their weaknesses. They also make sure they recruit passionate people who can egg each other on along the journey.
Entrepreneurs Do the Ground Work
“PRE” signifies “before” or “prior to.” The thumb rules are to pre-plan and pre-estimate. Entrepreneurs never work with assumptions (which lead to apprehensions). They get the facts and stats on everything that matters. They are information-oriented. They think like no one else does, which takes practise. They filter out the negatives. They serve a purpose; fill a hidden gap. Details beat presumptions every single time.
Entrepreneurs are Enterprising 24×7
Entrepreneurship is a craft and entrepreneurs are masters of this craft. They are updated about everything in their business (and that of others). They maintain a 360-degree view of the world and current trends. They seek internal and external feedback, and even hear out criticism. At the end of the day, they review their actions and priorities. Their mind is constantly fertile with words like “new,” “innovation,” and “growth.”
Ideating comes naturally to them. There’s a popular adage that talks about winners not doing too many different things, but doing regular things differently. This is what sets them apart. Entrepreneurs need to think on these lines in order to become winners. As they move from one project to another, they need to challenge existing notions and raise the bar.
Just like “NEUR,” a combining word form that means related to nerves, business acumen surely needs to run in an entrepreneur’s nerves!
Entrepreneurs are Go-Getters
Entrepreneurs trust their instincts, of course, after they have gauged the rational and calculated elements. Instincts are the feathers and perseverance the wings. They are perceptive and work with foresight. They never lose focus on why they got into it, where they stand now, and what tomorrow holds.
They compete more with improvement and excellence than with rivals. They never settle for mediocrity. They are not satisfied with temporary solutions. They ask questions, and find (or create) answers. They reinvent and rediscover.
Successful entrepreneurs don’t wait for things to happen; they make things happen. They want to learn as much as they can and use that knowledge to get things done and achieve their objectives.
Entrepreneurs Value People-Power
Progressive entrepreneurs invest as much in their team as they do in assets, technology, and the other overall business areas. They get the right people to do things right. They care for their team and encourage them to excel. They don’t build a business; they build people – with whom they can in turn build a business together. They connect with all their stakeholders: clients, customers, and critics.
Entrepreneurs Manage Time
Taking accurate and time-bound decisions is vital to any business. The speed of the “boss” determines the speed of the team. Checks and balances are key words. When time tests them, they adjust. They return with a bang.
Entrepreneurs are Conscious
Successful businessmen do not hold themselves back from setting lofty goals and take on challenges that are seemingly unachievable.
Entrepreneurs know that they do not “run” but “lead,” or even “guide” a business. They safeguard it and its people. They are always ready for the best and prepared for the worst. They spearhead transformations when required. They say Yes or No prudently. In short, they know the implications of their words and actions, and are always aware of what they’re doing or saying.
Entrepreneurs are Always Cheerful
The ability to stay positive and cheerful, in the good times and the bad, is the hallmark of a successful entrepreneur. The entrepreneur is the face of his business, and its reputation depends greatly on the way he presents himself in public. Entrepreneurs establish cheer in their own and their team’s hearts. They don’t mull over losses. They are amazingly positive. They know there’s more to achieve and the world is their oyster.
Over to You
Are you a founder or a leader of a company? How many of the above traits do you share with other immensely successful entrepreneurs? Do a self-check and share your experiences with us in the comments.