The 21st century is witnessing a boom in rising and successful entrepreneurs…more than ever seen before. People are more aware of the economy, the dynamic nature of the markets and most know the little secrets of the stock markets, helping them to become successful entrepreneurs.
These are simple but crucial factors that play a role in making you a successful entrepreneur. We have discussed few important ones here.
For the love of it
An entrepreneur is a passionate individual. He has seen a dream and is determined to turn it into reality. It is the key factor in making him successful. These dreamers understand that the road is treacherous, filled with challenges, downfalls, natural and human-made disasters, etc. He has studied them well but still chalks out his blueprint for his dream work.
Your dream should start with love and dedication. You may not see monetary success for a long time, but that’s not what you are working for! Because if you are, you are doomed from the beginning itself. Financial gain should not be your aim. Your dream is to create something that will change you and the world around you for good.
You are the boss
The best feeling one can get is by conducting your business in your style and at your pace. That’s the liberty and freedom you get which you never experience while slaving away in the corporate jungle. You enjoy great flexibility and get to choose what number of hours and time of day you want to work.
Start with bootstrapping everything; sketch out a fully functional business plan. A plan in place always helps in streamlining processes from day one. Initially, you will be in a compromising state even though you are the boss – mortgaging things you own, taking loans, etc., to keep your business running. There will be constant challenges thrown at you, but how you handle them is the skill you need to attain before plunging into the entrepreneurship sea.
Make people friends and not your slaves
There is no way you can go solo when venturing into business. You will need partnerships at various levels – vendors, co-workers, business partner. You have the advantage to choose your people. They could be friends, family or ex-colleagues. They will be of great support and you know you can trust them. But you need to draw a line when doing business. Your friends or family can either be your emotional support or your business partners. You need to decide.
Managing people is the most difficult task because they don’t see your dream the same way as you do. You want to do things your way because you know the outcome better. But your team may or may not agree with it. But it is Ok. These little things can be resolved. So if you want good employees, be good to them. Treat them as equal, as friends or colleagues but never as slaves.
Same applies to your client. You don’t need to be subservient in nature. Be there for them, and it’s a promise, they will remain a return customer.
Your attitude towards your work, your people is all that matters to make your dream venture a success.