Friday, May 16, 2014

10 Habits of Successful Entrepreneurs

10 Habits of Successful Entrepreneurs image shutterstock 163390985 300x200

Entrepreneurs are an idiosyncratic group of people. Each one has found success in his or her own way. It’s difficult to duplicate the results.

Success takes hard work, dedication and, most importantly, the drive to keep going when it feels like everything is against you. Following these principles will keep you in the right mindset to grow your small business.

1. Do the work.

Every great entrepreneur isn’t afraid to get his or her hands dirty. They put in the hours and learn how the industry operates. They don’t hide in the office.

2. Don’t give up easily.

To quote Winston Churchill, “Success is going from failure to failure without losing enthusiasm.” Many entrepreneurs share this belief. They realize that achieving something meaningful is hard work, and it may take a few flops before something soars.

3. Be wary of success.

If business is a race, entrepreneurs don’t have the same finish line as the other runners. They set their sights farther ahead. And when they reach that point, they might go a few more miles.

4. Start with a market need.

Since new ideas are plentiful, they are not worth very much. Instead, entrepreneurs begin with a need, where they already have a market—the people who need what they have.

5. Don’t Set Out to Be Rich.

If your objective is to get rich quick, you are likely to cut corners. Entrepreneurs aren’t out to be rich; they are looking to build something that lasts. Wealth is the byproduct.

6. Be brand savvy.

A brand is your mark in the industry that distinguishes you from your competition. An entrepreneur can tell you how they different from their competition at the drop of a hat.

7. Understand the trap of financing.

Many believe that entrepreneurs start their companies with millions of dollars in financing. This simply isn’t true. Successful entrepreneurs are more strategic. By taking small steps, they only need to sufficiently finance the first steps in order to accomplish the next steps.

8. Build a team of experts.

An entrepreneur learns to delegate early. Micromanaging creates obstacles. The company will never grow, if it is designed for only one person (the founder) to manage it effectively.

9. Play to strengths.

Entrepreneurs focus on what they do best. Wherever there is great innovation, there is a dreamer and an operator; an “idea man” and someone who turns those ideas into reality.

10. Read to be inspired.

Entrepreneurs learn from other entrepreneurs. They also look for inspiration wherever it might hide. Successful entrepreneurs are willing to pick up a book (or read a blog) and unearth the available treasure.

Source: B2C_Business

10 Habits of Successful Entrepreneurs

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