I’ve seen so many small business owners fail to achieve success, despite having all the talent and hard work in the world, because they don’t know how to be successful entrepreneurs. After working with hundreds of entrepreneurs over the years, I believe there are seven fundamental principles that any entrepreneur needs to understand to achieve long-term success with their business.
Let’s take a look at those principles now.
1) Admitting You Need Help
If you don’t have what it takes to succeed, you should take advantage of other people’s strengths. Don’t be stubborn and think that you can go it alone, especially when there are people who love your idea and want to help. It might not seem like it initially, but asking for help is one of the most important things an entrepreneur can do. When we ask for advice or assistance from others, we show them that we respect their opinion and value their input—and they will likely return our respect by helping us succeed. It’s a simple concept that many entrepreneurs ignore because they’re too proud or afraid to admit defeat.
2) Defining Success
The big question about how to become a successful entrepreneur is whether there is more than one path that can lead you from zero to success. Your personal objectives will determine how quickly you rise; my advice is to aim for success and set specific objectives. Once you’ve set your metrics for achieving success, start measuring them against those targets! Doing so will help keep you motivated and on target as you continue your journey toward becoming a successful entrepreneur. This process isn’t just about having a vision of where you want to be; it’s also about knowing exactly how much effort, time, and resources are required to get there.
3) Working with People You Like
Working with people you like can contribute to your success as an entrepreneur.
- It’s much easier to be productive with people who enjoy your company and vice versa.
- When you trust and value other entrepreneurs, it’s easier for each of you to ask for help when needed.
- And perhaps most importantly, it’s easier to make decisions that are in everyone’s best interest when everyone involved wants what is best for both parties.
What makes a successful entrepreneur? They have three things in common: they love what they do, work hard, and surround themselves with great people. Many people don’t realize how vital surrounding yourself with good people is. On the other hand, being around people who are lazy or negative will make you less productive and change how you feel about life.
4) Being Honest about Your Strengths and Weaknesses
What percentage of entrepreneurs are successful? Approximately half of all new businesses fail within the first five years. Whether you’re trying to open an ad agency or decide which local coffee shop to frequent, being honest about your strengths and weaknesses is crucial for success. Most entrepreneurs don’t know themselves well enough when starting, so make sure you do before jumping in.
To succeed as an entrepreneur, you need to rely on yourself—and no one else—to get it done. But that doesn’t mean you have to go at it alone. Look around at other people who might be able to help you achieve your goals, but remember: the more people involved with your business venture, the greater the risk of failure. So choose wisely and surround yourself with those who have proven trustworthy over time. The right mindset: It takes a confident attitude to be successful as an entrepreneur; most importantly, it takes courage.
5) Getting Support Where It’s Available
There are many organizations you can turn to for help in making your business succeed—it’s just a matter of finding one that provides support in areas where your company needs it. Please take advantage of all the resources available, and learn how to make them work for you. What makes a successful entrepreneur is being able to do that effectively. If you need assistance with branding or marketing, look for organizations dedicated to those aspects of business; if you need help with accounting, find an organization committed to financial support. And don’t be afraid to ask for help when needed—these organizations exist!
Finally, get started now: Many entrepreneurs like to put off getting started because they feel they already have too much on their plate. But take some time today and tomorrow to plan what needs to be done next week—and start doing it! What makes a successful entrepreneur is having that forward momentum pushing you forward, no matter what obstacles come up along the way.
6) Not Worrying about Others Who Aren’t Successful Yet
Most new entrepreneurs feel they have to prove themselves and compete with others who might be more successful. This is a mistake. Not worrying about what other people are doing is one of your most significant advantages as an entrepreneur. Don’t worry about how many Twitter followers you have; don’t worry about how much money someone else has in their bank account or what kind of car they drive. Work on your business, not theirs. Worrying about them will only distract you from focusing on yourself. Instead, ask yourself: What can I do today to help me achieve my goals? Focus on yourself and your success—not other people’s—and use that competitive advantage to get ahead.
7) Learning from Each Other
In addition to reading articles, books, and blogs from other successful entrepreneurs, you’ll also want to seek mentorship. A mentor isn’t just some wise sage who dispenses advice (although it can be helpful at times); instead, your mentor is someone who has experienced what you’re currently going through—and will help guide you on your journey. Always be open to new ideas about what it takes to be a successful entrepreneur and how to become a successful entrepreneur.
What does it take to be a successful entrepreneur? Every aspiring business owner out there can assure you that being an entrepreneur takes hard work, dedication, consistency, and tenacity. If you want success for your business, you have to give it everything you’ve got. So, what does it take to achieve success? Only those who fight for what they want will ever get what they want in life. As an entrepreneur, nothing is handed to you, and success comes from years of blood, sweat, and tears.