What you need to know to be a successful entrepreneur

Chase the vision, not the money, the money will end up following you “ – Tony Hsieh, Zappos CEO

 

Mark Zucherberg, Richard Branson, Reggie Brown, Evan Spiegel are all names you’ve heard of or even people who you’ve looked up to. Entrepreneurs come in different shapes and sizes, educational and economic backgrounds but there’s not many things that are common except for the passion, perseverance, never say die attitude and the ability to take risks that comes with the job.

In order to get to where they are, you can bet your bottom dollar that they’ve faced hardships, made numerous mistakes, and tried various things before they perfected their business.

 

The difference between most entrepreneurs, you will notice is their attitude. Either to persevere or to give up when faced with adversity, to not let competition pull you down or shut shop when there are a few bad reviews. It takes a lot more to be a good entrepreneur.

 

What makes them successful?

 They:

  1. Figure out what they want to do; and take baby steps towards their goal
  2. Pause in-between steps to see how far they’ve come and reassess their next step. It’s more a routine of Act.Pause.Learn.Pause.Build.Pause.Repeat
  3. Deal with uncertainty and contingency by experience and not just theoretical plans that have been put in place.
  4. Put yourself out there and try new things and at some point you will figure out what you’re good at and stick to it.
  5. See over every detail of your business. It’s good to look at the big picture but also the smaller details. Especially the case when you’re just starting out.
  6. Never give up-No matter what! They’ll always be moments that bring you down, leave you faithless and competitors will try to cut you off. But, remember why you started your business and stick to it.
  7. Get out of your comfort zone– It’s important to stay scared in the beginning. Some call it staying hungry and some call it staying scared. Either way, the sentiment’s bottom line is the same. Which is to use it as an important motivator.  Go outside of your comfort zone, learn to survive, grow and evolve.
  8. Create what the market needs: This is an important thing you will find most entrepreneurs doing. There are a lot of people with a lot of ideas out there but not every idea is a lucrative business to pursue. If you begin with a current market need, you have a market that is already present with the people who need what you have.
  9. Don’t begin by thinking you will be rich and famous: Believe it or not, entrepreneurs don’t’ have money, success or fame as their goal but rather the by-product.  They begin by working on their product or service, perfecting it until they’re the best at it. The fame, fortune and success will follow on it’s own.
  10. Push yourself harder
  11.                   Learn to finance your business well: Begin with sufficient financing before you move on
  12.        Manage your time well: Remember that time is money
  13.               Learn to function as teams and play to everyone’s strengths
  14.                   Turn Obstacles into assets
  15.                 Learn to say ‘NO’ when the need arises. It’s essential to say no to some great ideas in order to get to the brilliant ones.

 

“The value of an idea lies in the using of it.”—Thomas Edison, General Electric Co-founder

 

 We hope that these 15 tips from successful entrepreneurs and business owners will help motivate you and give you  the ideas you need to keep surging ahead.

 

“Make every detail perfect and limit the number of details to perfect.” —Jack Dorsey, Twitter co-founder

There’s nothing wrong with staying small. You can do big things with a small team.” —Jason Fried, 37signals founder

What tips do you use for your business? Let us know!

-Social Pandora

 

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