One of the common questions I often hear is: “How can I become a successful entrepreneur?” This is a question that is not easy to answer and there is no magic pill that can transform you into becoming one. However, from looking at what worked for many of the people who have succeeded, three things stand out that results to success.
If you want to become a successful entrepreneur, here are three things that you need to do:
1. Conquer Your Fears
Becoming a successful entrepreneur is a road full of challenges; it is but natural to be scared. Your failure could mean losing everything and letting yourself (and loved ones) down. For many, just the very idea that there is a strong chance to fail makes them quickly drop any dreams of becoming an entrepreneur. It is natural to be paralyzed with fear, and take the path of lesser risk.
But fear of failure is good. Embrace your fear; it will keep you on your feet! It will keep you awake at night, but will force you to reduce any mistakes and compel you to really think through your decisions.
Empower yourself by researching and understanding the business, and getting the right information. The more you know about your business, the more confident you become. Talk to other entrepreneurs, read books, visit websites and follow industry thought leaders in social media. There’s so much information out there – be willing to absorb them all like a sponge.
2. Take Action
Dreaming about starting a business and becoming a successful entrepreneur is all well and good. But nobody becomes rich and successful just by dreaming; instead, they work hard at it – everyday! They don’t spend their time dreaming about the what-ifs, but they put all their time and efforts to actually doing tasks that bring them a step closer to their goals.
Ask yourself why you haven’t taken any action yet. Some of common reasons of inaction include:
- Lack of confidence
- Lack of purpose or vision
- Lack of strategy or game plan
- Just plain laziness
Figure out why you are not doing what you need to do to get closer to your dream of becoming a successful entrepreneur.
3. Get motivated
The level of success you will achieve will depend on how well you are motivated to succeed. You need to have that “fire” in your belly – the passion and yearning to achieve success at al costs.
It is not going to be easy. The biggest challenge will be to find the motivation to stick to what you want to achieve. After all, it’s tough to get motivated every time and stay at that high level of motivation. You’ll find yourself losing interest and drive, as well as questioning your goals and yourself.
You have to really, really want it. You can only stick to goals that you are really passionate about and something that you want deeply. Learn how to create and build on the excitement – it may be from talking to your spouse about your goals or visualizing what it is like if you already achieved your dreams. Create reminders about your goals, such as printing your goal in big, bold letters in front of your desk so you can be reminded of it every day.
Sometimes, committing publicly about what you want to achieve can also help boost your motivation (if only to avoid losing face when you fail to work on your goals).
It may also help if you constantly surround yourself with things and people to motivate you. This includes following successful people in social media and getting the constant boost of motivation from their stories of successes, tips and strategies that they share, and their positive attitudes.
Recommended Books on What You Need to Do to Become a Successful Entrepreneur:
- The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
- Women Entrepreneur Revolution: Ready! Set! Launch!: 100+ Successful Women Entrepreneurs Share Their Best Tips on What Works, What Doesn’t (and Why) … a Business and Designing a Life You Love
- Make Money, Live Wealthy: 75 Successful Entrepreneurs Share the 10 Simple Steps to True Wealth: Money, Investing, Lifestyle, Entrepreneurship, Self-Help, Millionaire
- 28 Habitudes and Attitudes of Successful Small Business Entrepreneurs
- Disciplined Entrepreneurship: 24 Steps to a Successful Startup
- The Enthusiastic Employee: 16 Myths on Employee and Performance Management
- 10 Secrets of Successful Entrepreneurs
- 12-Step Template to Write an Effective Sales Letter
- How to Raise Money to Finance a Franchise
- Pros and Cons of Financing a Business