They are less than 10% of the entire population. But they create 90% of what we have from common table water to spaceships and the most complicated technologies you can think of. Some qualities differentiate successful entrepreneurs from others though.
The category of these courageous individuals create most of the jobs we have and keep having. Being an entrepreneur is a blessing. That you run a startup today or in the process of starting one makes you one of the few special breed on this planet.
I came across this video of Brian Tracy’s on how entrepreneurs can build their business faster by developing the right qualities. I jumped on it and I learnt a lot from it.
I believe that as a startup, or prospective business owner, you will learn great qualities that can help you build your business faster.
This is it. It is time to turbo-charge your business folks!
If you think about the impact made on the world by the likes of Bill Gate, Warren Buffet, Micheal Dell, Mark Zuckerberg today, you will agree with me that entrepreneurs are the core of industrialization. They engineer job creation plus the growth of economies of their countries.
The Unites States is the most entrepreneurial country in the world, there is no point describing the successes of her economy over the years.Then, there is Japan, Ireland, Singapore, Taiwan and so on.
How about this?
Korea’s standard of living was $200 per person in the 1970’s. Now, that has astronomically risen to $10,000 over the past 35years. This is just to show you that current worries or whatever pain-in-the-neck that your business is putting you through today is worth it.
You are on a sometime lonely road to fulfillment.
As explained in a Turbo-charge Your Business series, Brian Tracy laid bare some qualities you can acquire or work on within yourself in order to be a successful entrepreneur who builds successful business(s).
Startup and small business owners, come and let’s take a look at these qualities you must develop in other to build your startup businesses faster. Shall we?
I mean, startup owners coordinate production, marketing, distribution and sales. All this at the same time?
It is normal that startups launch with so much energy and motivation but burn out over time. It happens. A piece like this is what you need to reiterate your vision, re-kindle your motivation and re-launch into the deep.
Entrepreneurs are risk takers.
They have huge appetite for undertaking adventures that look too unsafe for a ‘salaryman’. To them, it is just another business opportunity. It is to them yet another chance to solve a problem, to fill a need which they will be paid for, immediately or later.
Now that data is available for everything we do, taking risks just got safer for startups.
You can research and assemble enough insight to enable you an informed decision on well-calculated risks.
Entrepreneurs find it easier to take risks because they can influence the situation.
Entrepreneurs are optimistic.
They think positively of their ability to succeed against all odds. They do not allow themselves to be limited by fear of failure or failure itself.
Bill Gates, Jack Ma, Richard Branson, Oprah Winfrey and the likes have failed woefully in the past. They had done businesses which went bad. They had invested time, money and energy in products or ideas that nobody wanted at some points in their lives.
Yet, they were optimistic enough to keep pushing until something happened.
Entrepreneurs are future-oriented
They foresee what their customers will be lacking in the future and start producing it today. Facebook used to be a hangout place for old friends and schoolmates whom you had not seen for a while back then.
Can you imagine the marketing potentials and the budget going through Facebook as a platform today?
All these factors come together for the fact that Mark was able to envision and build the world’s largest room in his bid to merely connect friends, families and colleagues.
In the days of ‘thefacebook’, did you see the kind of marketing influence Facebook wields today?
He was tempted to sell his vision then. He refuse to sell out. Enterprenuers see the future. Confam!
Entrepreneurship does not mean you are an island, it only makes you teachable.
It is only business idea to create something unique in the market that gets entrepreneurs started. Most entrepreneurs don’t know the legal aspect of their business. They did not know accounting. They knew next to thing in recruitment.
Without good knowledge of all aspects of running a business, startups still launch with the hope of crossing the bridge when they get there.
If the greatest fear of venturing into a new challenge is knowledge, you are not alone.
No startup owner ever knows all about their businesses.
They learn from others and grow. They get impacted much as they impact on others through great working relationships.
Entrepreneurs learn with time that many things don’t work.
They learn not to get stuck on a project. They learn not to get devastated when an idea doesn’t work. They find it easier than others to move on. They are not afraid to start new things. When such new things fail to yield desired results, they simply look for something else to try.
“Samsung started out as a small trading company with forty employees located in Su-dong (now Ingyo-dong). It dealt in locally-grown groceries and made noodles.” –Wikipedia
Entrepreneurs have the courage to start and the persistence to continue.
Jack Ma was rejected by Harvard 10 good times. Jack Ma applied for job at KFC, he was the only lad rejected. Jack Ma applied to join the police, he was rejected. Over thirty times in the course of his 51years of existence, he has been rejected.
Too many rejection for an average human being. Why didn’t he give up?
That your idea is great or that you are 200% sure the business opportunity you have will succeed doesn’t mean you will not face rejection. Take a clue from the founder of Alibaba. Develop a resilient spirit that always bounces back from failure, rejection, disappointment and all negative circumstances life.
Successful entrepreneurs succeed in the face of the fiercest competition. They identify what benefit stand their businesses and find the best way to sell it to their audience.
Ever thought of the power in Steve Jobs’ speeches when he launched Apple products? When he introduced ipod, he called it a device that could put “1000 songs in your pocket”. He could have said Apple built a digital music device that had 5GB capacity. But he focused on the benefit, “1000 songs in your pocket”.
If it requires that you take on new courses or training, always find the best way to sell the benefits of what you offer and not merely advertise features. Customers care less about features the days. They don’t just pay for what is important. They pay for why it is important.
Entrepreneurs focus intensely on sales, revenues and cash-flows. They seek to know the financial implication of every business activity taken.
They can look into financial statement s and deduce what to do.
At Voguepay, we won’t be in business if there are no entrepreneurs around anymore.
Who would initiate transactions that we will take charges on?
Our merchants and their businesses are at the center of all our innovations.
We’ve got Transaction Webview, Account Statement Webview, Transaction Split, Multiple Wallets, and so on. Would you like to know how these and other content management and business support tools can help you do your business better?