Not all entrepreneurs are successful, but most successful people are entrepreneurs. Entrepreneurship is one enduring concept that has been around for as long as capitalism. And it is not difficult to see why it attracts so many Americans. What sets them apart from the rest of us? Consider the teenager who set up a lawn mowing business in high school when everyone else was hooked on TV and internet. Consider the career employee who left a comfortable job and salary to start their own gig. Entrepreneurs have a distinct aura, determination, vision, and the will to make that vision real.
How to Be an Entrepreneur
Entrepreneurship always holds a certain charm and appeal, even to the most career-savvy of us. There’s just something about being your own boss, working for yourself, and growing a successful business that captivates us. Entrepreneurs are a manifestation of the pursuit of the American dream. America has always been the land of opportunity. Countless entrepreneurs have set up their own businesses over the decades. Some succeed, some fail, and some exist to this day. Entrepreneurship is one way to leave a lasting legacy, something you could never get as a salaried employee.
But entrepreneurship can also be intimidating. After all, nobody really knows the exact recipe for success. The business world is a constantly changing landscape, especially in the digital age. Businessmen these days aren’t on a boat on a peaceful lake with occasionally choppy water. Instead, they’re on a raft heading for the rapids. Entrepreneurship requires grit, determination, and above all a clear idea of the end result. Of course, the specifics of your business will be unique, and you will have quite a lot to learn about being a business owner. However, the following 6 tips can go a long way towards making you a successful entrepreneur:
- Be Decisive
- Be Confident
- Be Self Accountable
- Be Determined
- Choose Your Market
- Identify a Problem and Offer a Solution
Let’s examine the above tips in more detail to get a better idea of what you need to do to be an entrepreneur in 2019.
Decisiveness is a key trait you will commonly find among most successful entrepreneurs. You need to realize that making a decision, even without 100% readiness, is still better than not making a decision at all. Procrastination is the bane of the existence of a businessman. You need a direction in which to proceed, and the decision of what direction to take must come from you. You need to make decisions and get to work as soon as you know enough.
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You might think confidence comes from having money, or expensive clothes or jewelry. But in fact, an entrepreneur’s confidence comes before the toys and trappings of success. Their confidence is what gets helps them achieve success. You have to keep going, confident in your ability. Even if you face failure, you need the confidence to learn from it and continue towards your goals. An entrepreneur is a leader, and nobody likes a leader without confidence in his or her abilities.
Be Self Accountable
It’s easy to get carried away in the rush of being the top dog. After all, it’s your business, your vision, and your hard work that gets you to success. You’re the one who had to save money for a startup. But egomania is something you need to avoid at all costs. Never think as a business owner you are above accountability. In fact, you should constantly hold yourself accountable and accept responsibility for your decisions. Your decisions directly impact your employees and staff, who depend on your business to thrive. You are responsible for them, and you shouldn’t make decisions selfishly.
Determination is perhaps the most important ingredient in the mixture that makes an entrepreneur. On your journey to success, you will encounter failure, unless you are exceptionally lucky. But don’t let these failures push you off track. You should be determined enough to face adversities. Keep moving towards your end goal, learn from your mistakes, and stay the course.
Choose Your Market
Obviously, you can’t just start a business one day without doing your homework, and expect it to succeed. There is a lot of research work before you start your business, and some of that includes choosing the right market. First, you need to consider your own skills. They could be related to business or formal education or even a hobby. Once you have these skills listed, see which of them are currently in demand. Look at existing businesses to see if a market for your skills exists. You also need to consider what you offer as an entrepreneur, and why it can be valuable to the customers in your market. Based on these points, you narrow down your options.
Identify a Problem and Offer a Solution
This is the final step in our entrepreneurial process. Once you have identified a market, it is time to consider how you position yourself in it. Most markets already have tons of competitors. The ISP market is saturated with big names like AT&T and Spectrum internet. Most entrepreneurs will tell you that you should try to be as distinct from your saturated competition as you can. This means you need to find a problem within your niche and offer a workable solution. The first mover advantage is considerable, so don’t be afraid to blaze your own trails. Keep your goals and these steps in mind on your journey to becoming a successful entrepreneur.