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9 steps to become a successful entrepreneur

June 28, 2017 8:50 am

Succeeding as an entrepreneur takes hard work. There is no business magic that grants success on small businesses and their owners.

Passion, perseverance and a positive attitude tend to set successful entrepreneurs apart. Cultivating these attributes requires an inborn skill set and some tips to get started.

Makamba Online has this to share with you;

  1. Enjoy your work

Passion is key to keeping a business strategy moving. Half-heartedness in an entrepreneurial attempt will chip away at your drive to succeed. Perseverance is the one thing that’s guaranteed to move anything over time, whether it’s a person, a job or an entire company. Abraham Lincoln failed at most of his efforts until late in his life, but he never gave up.

  1. Allow yourself to grow

Jumping all in is rarely ever successful. There are success stories about people who invested everything once and came out winners after six months or a couple years, but those are rare. Risk management is an essential factor in any start-up, and balance is vital. You can absorb losses more easily if you take smaller risks in the beginning. Those will provide essential and productive lessons.

  1. Seek mentorship

Successful entrepreneurs often worked for others in their field of choice before striking out on their own. Spending a few years in the industry under an excellent mentor will provide a good launching pad. Learn from your predecessors’ mistakes and brainstorm about how to improve upon their model. Find someone willing to teach, and think about starting your business elsewhere when you leave.

  1. Market your vision

Confidence and a good elevator speech can take any pitch to the next level. The first marketing any company experiences comes from its founder. Spend time learning how to share your vision without coming across as “salesy.” Don’t be afraid to ask for the sale, but remember: the client is always the focus.

  1. Always take action

Entrepreneurs are movers and shakers. They can’t afford to analyse every detail or they’d never get anywhere. There is no place for delaying in a start-up. It’s a 24/7, no-vacation-or-sick-days kind of job that demands constant forward momentum. Make a brief assessment at every step and move on it. Trust your instincts.

  1. Make a plan

Read about successful businesses. Take in the wealth of knowledge that’s been provided by successful entrepreneurs such as Steve Jobs and the personalities from Shark Tank. A successful business plan does not have to be a book. A 10-page plan is digestible yet long enough to include everything you need to start.

  1. It’s never too late to start

Many successful entrepreneurs started later in life. J. K. Rowling (Harry Potter author), Julia Child (chef), and Sam Walton (Wal-Mart) all started their wildly successful brands after they were comfortably along in their lives. Having the experience that comes with age can give you a unique outlook on your business. Life experiences bring depth that the most educated young adult, by his or her nature, is less able to foresee.

  1. Build your team of ‘vision bearers’

Finding the skill sets and attitudes that support the culture of the brand you want to promote will foster innovation and enhance your reputation. Include folks from outside the company for the people you rely on. That will start a free marketing chain reaction that can build confidence and revenue.

  1. Be aware of your attitude

The attitude of the founder will set the tone for the business. Negativity, laziness and entitlement waste time and money while they tarnish your reputation. Success largely depends on making mistakes and accepting blame in stride. Owning up to and facing challenges head-on is what makes a mere business owner a leader.

Successful CEOs tend to follow a structured, daily schedule of rising early, exercising, having snacks on hand for fuel and socializing many evenings of the week. Striking a balance may take a while, but working toward this list as a goal for starting your company will make the difference.

Author: Refiloe Nthama

9 steps to become a successful entrepreneur Reviewed by on . Succeeding as an entrepreneur takes hard work. There is no business magic that grants success on small businesses and their owners. Passion, perseverance and a Succeeding as an entrepreneur takes hard work. There is no business magic that grants success on small businesses and their owners. Passion, perseverance and a Rating: 0
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