Do You Have What It Takes to Succeed as an Entrepreneur?

April 16, 2014 | By | Reply More

succeed as an entrepreneur

Do you have what it takes to succeed at owning and operating your own business?

Your life is the reflection of all the choices you have made up to this point. Ten years from now the same will be true. You are the product of your own choosing. Your future relies on the choices you make. You may be one of the few and are satisfied with where you are today, personally and professionally. Then again you may be part of the majority who is not. But either way you are where you are because you have chosen to be there. If you’re not satisfied, it’s time to make an adjustment to your life’s choices.

RELATED: 20 Qualities of Successful Entrepreneurs

When speaking of starting your own business or anything else in life, having the desire to accomplish your goal is not enough, however it is a starting point.

To help you succeed as an entrepreneur, follow these seven success survival tips:




1. Follow Opportunity Instead of Savoring Security.

This is the hardest one of all. Most of us were brought up to seek out and cling to the security of the 9-5 job. What happens when you mention to your family that you want to leave the security of your pension and go out on your own. They will probably advise you to be sure, to step carefully, to take your time. Some may even advise you against it completely. Are they financially independent? Did they have what it takes to go out on their own?

RELATED: How to Create a Targeted Market Opportunity

Are they living the life that they want? One way to avoid getting caught up in this security trap is to set a confirmed time that you will leave your job. Real worth and wealth is generated from within you. It comes from being prepared, knowing how to spot, act upon and capitalize from opportunities.

2. Get Things Done.

What do you want for your work? You want results. The results of your hard work are everything. You either succeed or fail. You make money or go under. Does this mean you should not get into daily routines? Of course not. As long as your routine is helping you get a profitable result, then they are not considered ruts, but pathways to success. Think of it this way. Efficiency is getting the job done right, Effectiveness is getting the right job done.

RELATED: How to Get Things Done in Business – Even if You Absolutely Hate Those Things

3. Make a Profit, Not a Living.

If you are still an employee, you probably know how much you will be bringing home next week. But with your own business, you have to remember to focus on making a profit — and that means high sales and low overhead. No one signs your check now. To survive you must be focused on how you will make a profit today, tomorrow and next week. You must find ways to keep costs down to the exception of affecting your profit making capabilities.

RELATED: Five Routes to Greater Profitability

4. Look For Opportunity, Not Mistakes.

Success is the result of making good decisions. Good decisions are made from good judgment. Good judgment comes from experience. Experience comes from bad decisions. This doesn’t mean you should try to make mistakes for experience. The key is to gain experience from the mistakes and success of others. Seek out others in your field. Study and understand why they are succeeding or failing. Don’t expect to make all the right decisions and don’t let the fear of making mistakes inhibit you from pursuing new opportunities. Those who never make mistakes are probably working for those who weren’t afraid of making them.

RELATED: How to Make Better Decisions: Tips for Entrepreneurs

5. Know What People Want, Instead of Wanting What You Know.

What it all comes down to. Knowing the who, what, where and why of your target customers. The success of your business is not the sum total of the knowledge you have gained, it still is and always will be, the “sale”. Success is determined by what products sell and how well they sell. It isn’t what you know that counts, it’s what your customers want. If you lose sight of this fact, you are doomed to failure. Never lose sight of the fact that marketing your customers’ wants is your number one priority.

RELATED: Marketing to the Right Audience

6. Keep the Vision Alive.

Never lose sight of your end goal or your dream of success. Where do you want to be in ten years? What do you want to be doing? I know how hard it is trying to get the daily job done sometimes, but keep your vision alive and let it steer you in your search for success. Let it be the drive that keeps you going. Every morning before you start, do something that will bring you a little closer to your dream.

RELATED: 10 Brilliant Steps to Attaining Your Own Goals

7. Work, Patience and Sacrifice.

Lets face it, if it were easy, everybody would succeed. To succeed you must dedicate yourself to doing what needs done not working on the clock. You must have the patience and persistence to tough out the hard times, and oh yes, there are hard times. Be prepared to sacrifice your time and too often your social and personal life in the pursuit of success.

Nobody said it was an easy road to follow, and if they did…..they were lying!

RELATED: 10 Rules for Small Business Success

 

 About the Author: 

Read more of Wild Bill Montgomery’s articles on marketing and online business tips to help you succeed in your online business ventures. Find more of his articles at “The InfoZone” and at MakingProfit.com
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Do You Have What It Takes to Succeed as an Entrepreneur?
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Do you have what it takes to succeed at owning and operating your own business? When starting your own business, having the desire to accomplish your goal is not enough. To help you succeed as an entrepreneur, follow these seven success survival tips.
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