How to become a successful entrepreneur

 

Should you consider becoming an entrepreneur?

Many a people want to be entrepreneurs but do not know what it takes to be one. In this article we will outline some of the attributes and skills you need to have, in order to succeed in your entrepreneurship journey. Entrepreneurship is hardly ever easy for most people and that is why most “entrepreneurs quit“. Below are some things to consider before you embark on your entrepreneurial journey.

 

Sleepless nights

Before you consider being an entrepreneur, you need to ask your self certain question and one of the questions you need to ask yourself is, “Am I prepared to spend sleepless nights?

The reason being, entrepreneurship entails long working hours and plenty of sleepless nights in most cases. This is because you most probably will need to work hard, working late at night while everyone else is sleeping. You will realize that this journey is filled with deadlines that need to be met, and most of these are very tight, so you need to work extra hard. Though of cause, you may choose to work smart. Hiring people to help you (Assuming that you have the resources to hire), or find management tools online. There are plenty of managerial tools available online and most are free. You could also choose to build a team but you need to make sure your team is very effective.

 

Team Building

As an entrepreneur you need to be a good team builder. These teams will help you achieve more, as they say (T.E.A.M is short for “Together, Everyone, Achieves, More), because we know that the collective efforts of team members yields greater results as compared to independent individual efforts. We all know that, there is no human who knows it all, so every team member’s strengths must be analysed and the team has to be setup in such a way that, each member is strategically positioned to handle matters that lie as their strength. Teams might not only be internal, like we explained. Teams could also be external, and That forms the basis of networking.

 

 

 

Business Networking

They say, “Your network determines your net-worth”. We believe this is true and so we think entrepreneurs and business men need to be able to build business networks.

  • Imagine you have a product that complements another entrepreneur’s product. A client approaches other entrepreneurs and they refer them to you, and you are in business. That in its self, grows your reputation and more people might be happy to do business with you.
  • When you create networks, it could make it easier for you to find some services. Some goods and services, not forgetting discounts come by, as your network grows because you start knowing a lot of people who could help you.
  • Building networks also encourages growth, and you might just learn a few handy tricks and obstacles to look out for on your journey. You could also learn a few new vital skills that will assist you out-perform your competitors.

 

Skills you need to learn:

  • Problem solving – Entrepreneurship is all about solving a problem and making money out of your solution. But sometimes you need to solve your own problems first. The beauty of it is that, it is a skill and so it can be learnt.
  • Persuasion – Some times as an entrepreneur you need to have the skill to persuade people. Some people never know they need something until they have been exposed to it, or persuaded to buy. For you to make money you need to be a persuasive somebody. Some say you need to be so good at selling to the extent of selling ice to the Eskimo.
  • Programming – Yes in this 21st century you need to have a basic understanding of programming, though you need not to know it in and out. They say programming promotes critical thinking skill, which is a requirement in the entrepreneurial journey. When you know basics of programming, that means you need not to hire some professionals to get some simple things done, and so you save some money.
  • Leadership – You need to have good leadership skill, and this skill is vital in your entrepreneurial journey. You need to be a good leader, because like John C. Maxwell said in his book, 21 irrefutable laws of leadership (Search for the book on on LearnOutLoud)”leadership ability is the lid that determines a person’s level of effectiveness. The lower an individual’s ability to lead, the lower the lid on his potential. The higher the individual’s ability to lead, the higher the lid on his potential.”

The above mentioned skills can be learnt, and that will make you an effective leader. you can read about these and if you don’t want to read, you can get and audio book since it’s the 21st century and you can buy, or some books can be downloaded for free Here. You also need to know how some technologies work.

 

Technology

It’s not a secret that in this 21st century, technology plays an important role in business. Some of the aspects are explained in our article, Why Technology is important in the modern society, and in this article we will explain some of the points. Technology has opened doors for entrepreneurs to research, market their products, get customer feed back, automate systems etc. and we see this as an important tool because it makes everything easy and facilitates the reduction of costs in business. The tool that every entrepreneur should understand and be making use of is the internet. In fact, every business needs a well designed website.

 

 

The need for a website

A well designed website with search engine optimization (SEO) that has been done right, is a very useful tool in the modern business world. Your website will be used as a tool for marketing, making your brand visible to a larger audience. It is hard to know where your next customer might come from, and the answer could be from your web traffic.

  • You could also create a nice blog, where you can share vital information with your readers and share your thoughts. You could also make use of this blog to educate your readers on some topics of interest. It is important to note that, you need to give people value, and sometimes information must be free and this will increase your chances of being noticed by potential customers and business partners.
  • Should you wish to make some small changes in your website, your knowledge in basic html or CSS could come in handy here. No need to hire a professional to do this.

 

In conclusion

Entrepreneurship is not for the fainthearted, as it requires a lot of work, dedication and decision-making. A lot of learning is involved, and some processes having a steep learning curve. You should expect to be tested on several aspects, and expect to learn a lot. Expect to be able to handle failure like a boss, and implement smart loss control measures, as you have the potential to win or lose. Remember everything you do in life is a risk, and as an entrepreneur it is important to take calculated risk. Be eccentric and do what most people will be afraid to do, remember in business it’s either you win or you learn.

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