Unique, Diff, Wild, Dream, Passion, Problems, Needs, Solutions, Happy, Goals, Networking, Listening, Personality, Read, Self-Confidence, Expertise, Inspiration, Doing, Feelings, Gr8, User-Friendly, Brand, Risk + 50 more.
How to become a successful Entrepreneur?
It is one of the most exciting Careers in the world. Even it is most exciting, it is also most risky for the people who have it. You become an Entrepreneur when you start your own company. However, we can’t define the process from start to finish because you must take many more actions before you start your company to become a successful Entrepreneur.
So, how to become a successful Entrepreneur?
In the following 87 points, I will share some pieces of advice, thoughts & action steps that you need to take – if you want to become a successful Entrepreneur. Here’s how.
1. Be Unique if you want to Become a Successful Entrepreneur
You must be different from your Competitors or the rest of the world if you want to become a successful Entrepreneur. It means you’ll need to see the world with different eyes from everyone else. You’ll need to see opportunities where everyone else sees problems. Your company will be unique – based on the degree of how much you are unique !!!
2. Think Differently
If you are truly unique, you’ll probably think differently than the rest of the world. So, you will need to find different ways to solve the same, similar or unique problems. That’s the difference between Entrepreneurs and the rest of the world. Viva la Difference !!!
3. Let you Mind run wild & Think about Great Ideas
Successful Entrepreneurs have great ideas that are unique & useful for the potential customers – virtually Nothing is impossible. If you want to build a company with a BiG Business potential and become an Entrepreneur – you must to think about Gr8 Ideas, not average or mediocre ones.
4. Dream about How you will Change the World
A great idea can change the world. Look at Apple & Steve Jobs -who really changed the world of Computers & Phones. Apple is #1 employer in Silicon Valley. If you want to become a successful Entrepreneur, you will need to dream. Dream about impossible things, because there is virtually nothing impossible – if you have/get the talent and work on it (Thomas Edison did it after 1000 trys).
5. Follow your Passion if you want to become a Successful Entrepreneur
If you want to become a successful Entrepreneur, you will need to follow your Passion for your business. It is your personal feelings & emotion that make you feel a affinity about something that you do. You will need it for your company.
6. Think about some of the most challenging Problems to solve
The world will always have problems, wants & needs – that people (future Clients or Customers), want to be solved. Find one of the most Challenging ones that you can solve and take it on with your company. If you solve it, you’ll become successful.
7. Think about some significant Needs
In the world, there are many needs. You will need to find a significant one and consider possible ways of meeting the need/s with your business thru a product or service.
8. Think about the best Solution/s for Problems & Needs
Each problem needs a solution that will satisfy one or more of the most significant need/s in the world. Create the best solution/s of the existing problems & needs on the market by being Better, Faster, or Cheaper !!!
9. Do what makes you Happy !!!
When you become an Entrepreneur, it doesn’t mean that you need to be unhappy with what you’re doing. You are the head or co-founder in your Startup. Think about what makes you happy and follow that – in pursuit of products or services. You’re out to change the world – in a small – but significant – or big way.
10. Don’t forget about your Life Objectives/Goals
You are probably in Relationships – before & after you become an Entrepreneur. You must think about your personal Life objectives –with those you are in a relationship with – that need to be accomplished – before or after you become an Entrepreneur – so you can have a Work-Life Balance.
11. Start with Networking
You will need to start with as much as possible of Networking for your company. You cannot start your business without your networks that can help you launch with higher probability of success. So communicate with practically every one in your Network, to let them know your starting a business + about your product/s & service/s. Who knows, you might get a few ideas that can really help you.
12. Start Listening more
Listening is one of the most important business functions today. You will need to listen, if you want to know about the problems & needs of your customers. These are very important pieces of information that you can use to give them what they need.
13. Use your unique Personality
Your unique personality is something that will differentiate you from the rest of the Entrepreneurs, and in the same time will differentiate your company from the rest of the companies. Customers as people, like someone unique & unusual – that offers creative solutions to their problems. Be that person that gives them good value.
14. Learn from other Successful Persons to become a Successful yourself
If you want to become an Entrepreneur, you must start to learn from successful persons. Identify yourself with them, and start implementing what they are doing for their success. Read or watch Video so you can see how they succeeded, then you can adopt what works for you – to get where you want to be.
16. Read a Lot
You need to read a lot, because it is one of the best ways to increase your knowledge to become a better leader & Entrepreneur – to realize your full business potential.
17. Read Blogs about Entrepreneurship to become Successful
There are plenty of Blogs about Entrepreneurship that you can read frequently – to increase your knowledge, and find some useful ideas or some new technologies. Wiz4.biz is proud to be #63 Business Blog in the World. I always look for topics that will help you Start & Grow a business. Read it every week or so, and I feel you will benefit significantly.
19. Believe in Your Expertise
How can you expect your customers to believe in you or your company – if you don’t believe in your own capabilities? Do your homework and learn all you need to know about your Industry. Now if you don’t already, start believing in yourself – if you want everyone else to start believing in you.
20. Increase your Self-Confidence
If you believe in your capabilities that you can become an Entrepreneur – you will have enough self-confidence to start & succeed – if you maintain your self-confidence, keep learning and are flexible to change as conditions change. If you didn’t have self-confidence, start finding the ways to increase your self-confidence right now – by doing the research.
21. Find your Best Inspirations
What inspires you? Your inspirations will lead your company in the future. Make a list of all things that inspire you, motivate you and start incorporating all those items in your everyday life & work.
22. Stop Dreaming; Start Doing !!!
Now it is the right time to stop dreaming and procrastinating. Write your dream down, share it with others; refine it; plan your attack – then “Just do It”. If you only dream, you’ll never become a successful Entrepreneur. Start the Action, Jackson !!! Start doing something about your dreams right now !!!
23. Don’t Rely on Feelings first
Feelings are not the only rules in Entrepreneurship. Do the Research, and find at least three sources. Can you come to a conclusion? Now, how do you feel about it? Let your Instinct make the final Decision.
24. Be Gr8 for Something
If you want to become a successful Entrepreneur, you’ll need to be great at something. You need to be better than everyone else in your niche – in one or more of those areas. What are you naturally good at? Get better !!! Now you’re unbeatable !!!
25. Develop your Greatness. Start with Better
If you don’t feel confident about starting a business now, do your research. You will need it and you may discover something you missed. You don’t need to re-invent the wheel. You’ll need only to do it “Better, Faster, or Cheater” than your competition. This will require continuous improvement in the personal and professional field. Do it !!!
27. Start with your Prototype
It’s time to make your first prototype of your product/s or trial run of your service/s. It doesn’t matter what it is or how good. You need something to show to your customers and test everything you have developed until now. They might suggest some good feedback – where you can improve it.
28. Try yourself on the Market
Maybe your prototypes of products and trial runs of your services are the best in the world, but you are not the judge. Your unique Target Market of customers are your Judges & Jury. Get feedback from them. Then you can decide which to incorporate or modify. You’re bound to be better. Now you’ll attract more customers !!!
30. Make your Products & Services User-Friendly
You cannot expect that you will sell your products & services well, if they are not easy to understand & use. Apple was so confident of that – they never had instructions. Make them be easily understandable & clear about what to do from the first interaction.
31. “Brand” your Business to become a recognizable, remembered.
What about your business name, or logo? Make something really recognizable, remember-able. Examples: Elon Musk’s Boring Co*, FaceBook, Home Depot, HotMail, iPhone, Lyft, Messenger. (*an extremely boring company)
32. What about your own Risk ???
Think about your own Risk. How much Risk could you tolerate? Will the Risk be worth the reward? How can you mitigate the Risk to reduce it? Can you share the Risk with others to minimize? These are essential questions for you to answer.
33. Don’t Forget to Talk About It Constantly
If you seriously want to become an Entrepreneur, start talking about your idea/s, passion, future business, market, etc. – with friends & family. What do they think about it? Have they given you some ideas on how to improve it? You will need to start creating buzz around your dream from the beginning of the process to get the support you need – physically & mentally.
34. What’s your Vision?
How do you see the future of your Startup? Where do you see your small business in three to after five years. Your Vision is important for your future success. Share it with your Team & employees – so it inspires them. Now plan it (on this planet) – so it happens !!!
35. Your Business Strategy
You need a strategy if you want your Vision to become a reality. Without a strategy, you could wander on your Entrepreneurial journey. Keep in mind that your Entrepreneurial journey is probably not an easy journey from A to Z. There are probably many obstacles you will need to overcome. Research & planning will help you to over come these.
36. Develop a concise Business Model
Draft your Business Model. You can see the connections between the most important business elements and the Business Model should identify weaknesses that you can strengthen. Try it and see what works best.
37. Now draft a Business Plan
The Business Plan will be your road map to success. It will provide the guidance you need – to stay on the road & the reason to get back on the road – if you hit a detour. Research to find a Template that makes sense to you – for your business model. Follow this ultimate guide to start growing your business. You can modify – as needed – should some scenarios change.
38. Plan our Path to Success
You know where you are now with your Biz Plan, and you know where you want to be after three to five years with your Vision. Next, you need to connect the dots. You need to draft your Road Map to your Vision. That’s your plan. Plan it Step-by-Step – so that if one Step does work – you modify or do over.
39. Prepare yourself for the next 3-5 Years
Monitor the trends and use the relevant data (to your business), to predict & prepare for that future. If you don’t have time, have one of your Team monitor trends for your Business to find & adapt to relevant Trends
40. Measure with SMART Goals
When you set up your Business Goals -check are they SMART (Specific, Measurable, Achievable, Realistic & Timely). Check them periodically (ie, Monthly), to see if you’re on-track or need to modify them.
41. Be Realistic as you’re Planning & Re-Planning your Business
Don’t have unrealistic expectations with your Business Plan. It’s alright to be ambitious & stretch your Goals, but make it as realistic as possible too. When you really need to (you should check it once a month or quarter (if you’re more stable), realign your business plan to be in synchronization with the reality.
42. Ask for Help if you Need It – when you Plan your Business
Sometimes you can’t do all the predictions & analysis needed for your Biz Plan. Do not hesitate to get the help from your Team or one or more Experts from your Network. That’s part of the reason why you have a Network !!!
43. The Best Plan is when you include Answers from Customers
Ensure that your Biz Plan has incorporated the answers from your current & potential Customers. This is very, very important because this is who your company serves. You want to solve their problems, meet their needs & give them their wants.
44. Keep your Plan as KISSS as possible
KISSS = Keep it Simple, Short & Specific. The most important thing is that you and your employees understand your plan. Avoid the complexity and some of the irrelevant rules that you learned in Biz school about the Plan. Review it with your Management Team, modify if necessary, then present it to all employees – so that you get buy-in.
45. Use Bullet Points in your Plan
The best Business Plans that use Bullets. It’s because Bullet Points are the simplest form to understand – which ensures a higher probability of implementation of the plan itself. Don’t forget good Headlines / Titles either.
46. Do not forget about Responsibilities
On the other hand, Bullet Points need clear responsibilities for implementation. Don’t forget to include who on each point. Each is an Action Item and you find out if they’ve been accomplished during review.
48. You Are Not Alone !!!
You must understand that you are not the one-man show. You are not alone. Use your Mgt Team members or Experts from you Network – to grow your business. Delegate as much as possible, but follow up to assure that the task is being accomplished,
50. Recruit Wisely for your Small Business
You need to develop and use a process that will recruit the best possible employees for your business. They are your future business potential !!! Write a Job Description. Have it reviewed by Mgt Team. Be prepared by a List of Questions. Share your Mission & Vision. What is their reaction?
51. Motivate & Inspire your Employees
Employees need to be motivated & inspired – if you want to get the best from them. So, share your Vision with them and how they can contribute. Make them feel an important part of the Team !!!
53. You Can’t Please Everybody !!!
If you want to please everybody, you will lose some of the more significant part of your potential energy. On controversial issues, meet with your Team to get their feedback. Talk to one or more of the Experts in your Network – if you need to. But you always make the final decision. If you don’t have a clear case, trust your Intuition !!!
54. Now, what’s your Target Market?
Clearly define the niche of your Target Market – if you want to give them the best from your business – to meet their needs and satisfy you customers continuing requirements.
55. Always keep Close to your Target Market
You’ll need always be at the places where are your target & current Customers. Listen to them, educate them, help them. 1) send them a monthly Newsletter of value to them, 2) send over something immediately – you might think is of interest to one of them specifically, etc. This is your job as a successful Entrepreneur.
56. Never forget to Ask Questions
Ask questions. Ask a lot of questions. Every opportunity. As a minimum – do an annual Survey. Their feedback answers to your questions will help you to refine your products or services and grow your business.
57. Let your Focus always be on your Customer
Your Customers are your bosses to tell you what they want or need. Giving it to them makes them happy in the short run & loyal in the long run. If you want to become successful, you need to focus on them as one of your primary goals.
58. Create Value in as many ways as you can
You will mainly sell this value, not your products and services – unless they have this value. So, in everything you do in your business, you need to shine through the prism of value creation to your customers. Responsiveness, On-time-Delivery, Quality, Customer Service are some of the ways you can do this.
59. Start Delivering your Value
The value is not about you. It’s about your potential & current customers. Because of that – if you’re not already doing it – start delivering your value right now. It’s all right to brag a little (if it’s legit), so they can understand what they’re getting and will appreciate it.
60. Make a really Irresistible Offer the cant Refuse, because . . .
an Irresistible Offer is something that can’t be resisted, something that will provide long-term to your Customers and success of your business. Look for opportunities to make really Irresistible offer/s – which can be Discounts, Bonuses, Free’s (but not Frozen), Quick Turn, etc.
61. Always Research
If you want to become successful, you will need to always research everything around your business – your Target Market, Biz Model, Competition, etc. To make good decisions, you need to research and get at least 3 sources. If the best one doesn’t jump out at you, use your Intuition to make the final decision
62. Observe What’s Happening around you
To become a successful Entrepreneur, you will need to be a good observer – to see Trends, Opportunity, Competition, etc, which you can use. Observation will make you better decision-maker and therefore a better leader of your business.
63. Evaluate but not Forever !!!
Your goal – when you become an Entrepreneur – will be to evaluate situations to make the best decision, but don’t let your evaluation last forever. Evaluations need to be finished – as soon as you get sufficient results from them – so you can implement them into your business.
64. Always Ask Why, What, Who, When & How
These are crucial questions that you will need always to ask when you become an Entrepreneur – of your Competition, Industry, Customer & Target Market – about everything around your business – in order to make better decisions to increase your probability of success.
65. Don’t Forget to SWOT (and I don’t mean Flies)
S = Strengths, W = Weakness, O = Opportunities & T = Threats. Always try to: improve your Strengths, reduce or eliminate your Weakness, look for new Opportunities you can take advantage of & determine the Threats to your business and how you can reduce or eliminate.
67. Always ask for Referrals
Referrals can increase your business drastically. Because of that, you need to always to ask for referrals. I you have done a good job with your present Customer, they will be happy to give you a Referral. You probably won’t have to give them an Incentive (a 5-10% fee), so don’t offer.
68. Use Lean Marketing, Not Expensive
You’ll need to be a Lean Marketer, so you get as many free – PR, Social Media, Email (see the Posts on Wiz4.biz)) or low-cost Advertising to target your market. Be sure to monitor the results to find out what is most cost-effective.
69. Always try to inject Energy into your Marketing Methods
Your Marketing Methods need energy in them if you want to be seen from as much as possible potential Customers. Include something humorous or shareable into your marketing, and you will reach a wider audience market for your small business.
70. Let’s all your Marketing Messages communicate your Value
Always check your Marketing Messages to verify that your business communicates the value that your business offers to your customers. Make it clear & concise with a Call to Action
73. Be Patient, Entrepreneurship is not a Get Rich Quick Strategy
You’ll need to be patient. Entrepreneurship is not a few quick Battles – it’s a long War – where you may loose a few battles, but you have to learn from them and bounce back. Set goals, celebrate Milestones & have a long-term Vision !!!
74. Prepare Yourself for the Worse
You need to know that statistically 40% businesses don’t succeed after 5 years. It means that these persons don’t become successful Entrepreneurs. You will need to prepare yourself for the worse-case scenario with your business and do all you can to prevent it – if you want to survive.
75. Do you have a “Plan B”?
A successful Entrepreneur should always have a Plan B (aka Backup Plan) – in case Plan A doesn’t work. They know that if something goes wrong, and they can’t fix it – they will need to do something different. Plan to use as many of the resources of Plan A to make the transition easier.
76. You will probably need to Compromise on your Current Lifestyle
To be a successful Entrepreneur will require from you to sacrifice some or a large part of your lifestyle. It could be working 12 or more hours a day; working part or all of weekend, virtually eliminating social activities, etc. You need to determine what your Work-Life Balance will be – so you can maintain your relationships.
77. Develop a Plan for Repeating Purchases
Successful businesses rely on repeating business from regular Customers. You’ll need to develop a clear plan to ensure repeating purchases are handled smoothly to the Customers satisfaction. This will bring you to the point where your business will have exponential growth.
78. Think Twice or more B4 U Startup
Wait, just a moment, and think again about what is required to startup – before you actually do. You really need to check all points explained here and on Startup Blogs like my Wiz4.biz to have all the info you need to make a good running start.
79. Out-Source when you need to
You can increase your productivity – if you include Out-Sourcing as a part of your business model. You may be too busy or don’t have the expertise required. Use what you need and learn from it. Delegate more as you grow – so you can concentrate on your high-level BiG picture issues.
80. Be (+), Even if you loose Round 1 or 2
If you lose the Battle, that didn’t mean that you will lose the War. If you are a persistent person, you will succeed. You can actually learn more from your failures than successes. It took Edison 1000 losses to win the battle for the light bulb. Big Gates learns more from Customer complaints than raves. (only the Brave rave !!!)
81. Start Blogging for your Business
Blogging is one of the most powerful ways to share info about your business. I learn more about succeeding in business by writing my Posts for my Wiz4.biz Blog. I use this info to mentor people and in running my own business. I’ve been in Biz over 35 years and haven’t had a failure yet – nor have my Clients !!!
82. Educate, Don’t Sell on your Small Biz Blog !!!
When you Blog about your business, don’t try to sell, educate. Tell them what you did to succeed. “What worked & what didn’t”. Reference other Posts that would possibly be useful to you audience.
83. Don’t be boring on your Business Blog
Escape the philosophy of those well known boring corporate Blogs. Do something different. Look for articles that will prevent failure and help success. Look for many different sources – so you have a wide variety of info to draw from.
85. Permanently eliminate Problem Causes – when you solve Problems
If you want to eliminate repeating occurrences of the same problem/s, you’ll need to remove the problem causes quickly after you solve the problem. It’s called Preventative Action. What was the Root Cause of the Problem? How can you eliminate or strongly prevent it from happening again? Just do it & move on !!!
86. Eliminate all the Obstacles to your Business Success
You may have many obstacles on your path to becoming a successful Entrepreneur. Always try to significantly reduce or eliminate these obstacles. They will make your life easier an increase your probability of succeeding.
87. Good Luck. You’ll probably Need It
You will probably need a little Luck. But, if you follow these tips, tricks, and bits & bites of advice, you will significantly increase your probability to succeed as an Entrepreneur. Drop by Wiz4.biz for continuing advise on Starting & Growing a business
Comment: I may think I’ve covered all the Tips about being a Successful Entrepreneur, but I bet you have 1 or 2 that I missed.
getting your Entrepreneur-ship out-of-the Box 7/21 enhanced by Peter/CXO Wiz4.biz
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