Thursday 15 March 2012

What #GEC2012 reminded me about - 8 Qualities of a Successful Entrepreneur

Just landed back from GEC2012 - which was amazing.

And this blog pretty much sums up a couple of thoughts from that.

So when you think about the people in the world who are highly successful, making money beyond their wildest dreams, and hear their success stories, do you wonder what it was that brought them success? Were they just lucky, or superbly talented, or did they just have a product that was seriously needed in the marketplace?

What exactly are the qualities these people possess that brought them success? Does everyone have those qualities, or is it just reserved for the few millionaires and billionaires who seem to turn everything they touch to gold?

Behaviors that have proven to be successful, time after time. After all, an entrepreneur is just a businessperson with a belief in him/herself, who takes risks, has a mission, and organizational skills beyond the norm.
Have a mission:

Successful business owners had a mission, they knew what they wanted to do, and had a very detailed business plan in which to accomplish this mission.
Work on strengths:

In starting a business know your strengths and weaknesses, and rather than try to work on those weaknesses, build your strengths and hire your weaknesses according to Langemeler. Hire the people who can compliment those weaknesses making the business venture stronger, because your strengths are emphasized and your not so strong points are covered.
Courage:

Know that this venture is not going to be a cakewalk – in other words, it is going to be great some days, and really tough other days, but the conviction in yourself and your business will carry you through. Be fearless and strong and don’t let the little details that are mounting and troublesome get you down.
Set Goals:

Detail (on paper) the vision you see for the business, and measure your progress. If you don’t see progress it is typical to want to give up, especially on the most difficult days, but when you see progress, it inspires you to keep going.
Be Resourceful:

Use others successful business to model your own, not exactly of course, but keeping on top of who is doing what, and what brings success will allow you to spend more time building customer bases, than trying to figure out everything on your own.

Learn how to seek advice and guidance when you feel overwhelmed. Ask others for help who are successful, and more times than not, you’ll be surprised at how willing they are to guide you.
Persistence:

Never give up on your dream or vision. Many times things go pretty rough, and some people will think it’s time to throw in the towel, but if you have a great business, and know that it deserves success – stick with it through thick and thin and think positive. Never think that failure is an option.
Form the managerial mindset:

Find your driving force and realize that even though you want to break away from that 9 to 5, and do things your way, you cannot do it alone – you’re going to need a team, and some help. You cannot have that strong do it yourself attitude if you want to succeed. Be the manager of your business!

Most failures of the self-employed entrepreneur is that they try to do everything themselves – and burn out. And remember the strengths and weaknesses section? These are vital to the business mindset.

Design a business that can run with or without you, and remember that getting help is not failure, but the next step to entrepreneurial success.
Build your personal skills:

Successful business owners are relaxed and secure relating to others and building relationships in the business world as well as with employees. The more extroverted they are the more approachable and likable they are and in turn leads to people wanting to do business with them.

These attributes lend a better working environment, as well as success with employees and their needs to communicate and interact. It creates a strong team and allows others to flex their positive muscles, and be more apt to interact with customers in a more friendly way.

Of course not all executives possess all of the characteristic that bring success, but the ones who don’t make up for their shortcomings in hard work. They lean on the people on their teams who do possess what it is they lack, and are competent, supportive and great leaders.

They are respected, admired and looked upon as an expert in their field of business, through plenty shoe leather, or credentials, and never doubt their abilities.

Although there are tons of books written about being a successful entrepreneur, the basics are listed here to get you started, but attending a seminar or buying a great book would be highly beneficial – and having a good product and a good dose of self-respect doesn’t hurt either!

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