July 12, 2016
The dream of becoming a successful entrepreneur is shared by many. The reality of actually being able to do this is not shared by as many. There are plenty of reasons why a person cannot become a successful entrepreneur. It is easy to look at someone that tried to start a business but failed and come up with reasons for the failure. Looking at someone else’s failure is not always the best way to learn how to succeed, however. Instead, examine how successful entrepreneurs made their dreams a reality.
How Do They Do It?
All successful entrepreneurs have their own stories, but there will be some things that are similar in all of their tales. The traits they tend to share include the way they think, the way they do things and the way they treat others.
1. They Show No Fear – From a young age, one of the most common words a child hears from their parents is ‘don’t.’ Parents are always telling their children don’t do this or don’t do that. They may add the phrase, because you may hurt yourself, or something similar. Parents are teaching their children not to do things out of fear. Successful entrepreneurs realize that not doing something because of fear of the consequences prevents many good things from happening.
One of the most common fears of entrepreneurs is expense. They think many technologies are only for bigger, more established business. A successful entrepreneur, however, would not hesitate to ditch traditional technologies and turn to a modern cloud phone system, for instance, because they look at the benefits that it offers. Technology, while it does come with a cost, can offer many advantages and make a small startup business appear like a bigger business. It is a case of the rewards outweighing any risks. Unless a person takes the risk of doing something they may be afraid of, they will never discover the rewards. Because entrepreneurs overcome their fear of doing things, they have a chance at success.
2. Know about Money – The idea that you need money to make money is fairly basic, but a good entrepreneur will understand finances enough to make sure they are able to get the money they need. The biggest lesson that a successful entrepreneur has learned is that it is important that they build assets that will make them money so they can do the things they want and need to do. They also know that there are ways to do things that do not require a large investment of money, yet still help build the assets they need.
3. Utilizing Leverage – The people that are not successful in business will talk about how they could not compete with larger firms that had deeper pockets and more tools. This is the mistake that a successful entrepreneur avoids. They take stock of what they do have instead of worry about what others have. They then take advantage of all of their assets to gain leverage against their competitors. The best entrepreneurs are the ones that are able to capitalize on their strengths instead of focusing on their weaknesses.
4. Have the Right Attitude – Not all successful businesses are run by people with the right attitude. Many think that they have earned everything they get and are not willing to share that with others. These people will judge their success by how much they are able to attain for themselves, but they may not be truly successful. The best entrepreneurs are able to turn their success into success for others. They take just as much pride in helping someone else grow as they do in watching themselves grow. Because of this, they are able to build a network that will only make them even more successful both in when it comes to money and how they enjoy life.
5. Taking a Chance – Some call it a risk, successful entrepreneurs consider it taking a chance, but either way it is something that has to be done. A person will never become a successful entrepreneur unless he or she actually does something. Without taking a chance, he or she will be the person who always talks about his or her great idea that someone else made millions off of.
6. Stay Healthy – The best entrepreneur realizes that they are useless unless they are healthy. A good diet and regular exercise gives the successful entrepreneur the energy and the ability to do the things they have to do.
7. Lead a balanced life – Starting a business can be time consuming, but successful entrepreneurs are able to balance their life. They leave time for work, family, health and themselves and make sure that everything gets the attention it needs and deserves.
8. Be optimistic – Every entrepreneur should believe in themselves and should believe that they are going to succeed. The successful ones are able to keep their thoughts realistic. They can make decisions that they hope will make them successful, but they can also pay attention to possible obstacles and events that may not go the way they want. The key is to work the problem and not focus on the negatives that surround a problem.
9. They Make the Decisions – The old saying that the ‘buck stops here’ is something that many entrepreneurs understand. It means that the entrepreneur has to be willing to make the decisions for the business no matter how hard the decision is. The only wrong decision to the successful entrepreneur is the one that is not made.
10. They Trust Themselves – Good entrepreneurs have faith in their abilities to accomplish what they set out to do. They also judge their efforts harshly and will always look for ways to improve themselves. They believe that as long as they are doing the things they know how to do, everything will work out in their favor. In the end, they may ask for the ideas, opinions and suggestions of others, but they will rely on what they feel the right decision is.
These are the traits that can be seen in many successful entrepreneurs from the billionaires that have already proven their success to the entrepreneur that just started their business. One of the last things to say about the successful entrepreneur is that they are not always successful. They have probably dealt with failure at least once if not more times in their lives. The difference is that they knew that they had what it takes to be successful. It is just a matter of getting others to see it in them.
Are you a successful entrepreneur? Do you think you have what it takes? Let us know what it takes to become successful. Feel free to share your thoughts, ideas and suggestions with us.
Andrea Laura is a very creative writer and active contributor who love to share informative news or updates on various topics and brings great information to her readers. Being writing as her hobby, Andrea has come out with many interesting topics and information that attracts readers to unravel her write-up. Her content is featured on many mainstream sites & blogs.