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6 Things Excellent Entrepreneurs Should Do

Posted by fanniecruzme1 , 04 December 2013 · 1,486 views

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Though success looks different for everyone, there are some core characteristics that resurface in the stories of many flourishing business leaders. Despite different personalities and entirely unique journeys, these qualities seem at the core of what makes a successful entrepreneur. Here are some of the key ingredients that should be factored in.

1. Choose a Field You Enjoy

The most important place to start is with a business that you love. It will require a force of will to hang in there if you are not absolutely passionate about your goal. Don’t pursue a plan that you aren’t completely in love with. The best jobs are those just feel like you are having fun. The endeavor of entrepreneurship is a consuming process and it’s simply better for everyone involved as well as the end result when you are enjoying the process and excited about the product.

2. Effectively Self-Promote

One of the most important aspects of being an entrepreneur is networking. Whether you are selling yourself and your company to investors, potential employees or consumers, being a shameless self-promoter is the best way to let people know what you are doing and why. Without becoming obnoxious, cautions Entrepreneur.com, “Self-promotion is one of the most beneficial, yet most underutilized, marketing tools that the majority of home business owners have at their immediate disposal.”

3. Be Disciplined

Instead of pining for more hours in the day, make the most of the time you have. Work in a focused environment to eliminate distractions. Plan out strategies and implement the right tactics to execute. “Successful entrepreneurs are disciplined enough to take steps every day toward the achievement of their objectives,” points out Under30ceo.com.

A strong work ethic makes the winning entrepreneurs the first to arrive in the mornings and the last to leave at nights. Part of this is being able to say no to distractions and clearly identify priorities. When you “genuinely love” your work, this determination and drive will stem from being involved in a business you are passionate about.

4. Take Risks

“There’s no guarantee of success,” writes Nellie Akalp for Fox Business. And that’s why becoming an entrepreneur is a risk in itself, not to mention the number of chances you will take along the way. Though it is scary at times to step out, you can only realize big payoffs when you take big risks.

Of course, there is a huge difference between foolishly conducting sloppy business and deciding on calculated possibilities. This also involves the tenacity to keep going when risks don’t pan out as planned. It is all a part of the process. Sometimes, a bad hit will require extreme personal measures like finding help with a short-term loan from TitleMax. Learn how to fail forward and make the most of disappointment. But the fortitude to press on is what makes a true business leader.

5. Discover and Become an Expert

“Entrepreneurship,” says Professor Howard Stevenson from Harvard Business school, “is the pursuit of opportunity without regard to resources currently controlled.” The ability to recognize an opportunity and muster the courage to seize proves critical in making a successful business person. Forbes notes that “entrepreneurs like to challenge themselves.” And because good ones realize their limitations, they take the time to learn everything they can about their particular market, available resources and the needed skills. This might mean educating yourself of bringing in the best people with the skills and experience to consult and advise.

6. Learn to Lead Well

Some believe that leaders are born, and others argue that they can be produced. Though there is certainly something to say for natural charisma, effective leadership qualities can be practiced and implemented. Some of the most important qualities include:
  • Honesty
  • Delegation
  • Communication
  • Confidence
  • Commitment
  • Creativity
  • Inspiration
Though the leader is the person out front, this doesn’t mean that the leader should seek outside input and involve others in the decision making process and in day to day operations. But at the end of the day, it is you who will be responsible for successes and disappointments.

Leading, learning, discipline, risk taking, self-promotion and passion are all excellent ways to develop into a dynamic and effective entrepreneur.

June 2019

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