10 steps which pave the way for successful entrepreneurship

Succeeding as an entrepreneur needs persistence and hard work. It is unfortunate, there is no fairy to swish her wand to magically bestow success on small startups and businesses .

If you observe closely most of the entrepreneurs who are successful follow similar patterns and share some common basic characteristics, but mostly, they are some major things which all of them follow.

Passions, positive attitude and perseverance is what sets these entrepreneurs apart. To cultivate these attributes you need an innate skill set and here a few tips for you to begin with .

1. Be passionate about your work

I love Work

Passion is the key to taking your business onward and upward. Half heartedness will not drive you to your success. Dedication is the key which guarantees your success, whether it is life or business.

2. Small steps

sucess-steps

Remember jumping head on has success rates rare to nil. Yes you might have heard of some who have invested their everything at once and emerged as winners after sometime, but these are rare and will not work for most of the times. Managing risk is very essential in entrepreneurship and striking balance is very important. These two things will ensure success. So start with baby steps and proceed gradually.

3. Observe and learn from others

observe

 

Success in entrepreneurship comes when you take inspiration from others. Observe and learn from your contemporaries. Spend a few years in the field in which you want to start your business, under a good mentor. This mentor will be your launch pad. You must observer and learn from your predecessors mistakes and learn how to avoid them and improve your business preventing those mistakes from happening. Find a mentor, who is ready to teach you the secrets of the trade, and when you have learnt enough you can start your business somewhere else.

4. Learn the art of self promotion

Observe-Learn

This is an important part of successful entrepreneurship. Confidence and the way you carry yourself will take you to a higher level in business. A business’s first marketing, whether small or large comes from the founder of the business. Concentrate on learning  how you can share your ideas and vision without portraying yourself as a sales guy. You should not be afraid of asking for the sale, but at the same time keep in mind that your client has to be your focus.

5. Act constantly

act-fast

Entrepreneurs should not procrastinate. Entrepreneurship is a nonstop, no vacation job which demands constant actions, onward and forward. You have to briefly assess at each milestone and move on it. Just rely on your instincts.

6. Formulate a plan

plan

Read, get inspired and learn well about successful entrepreneurs. Derive inspiration from people like Steve Jobs, Bill Gates etc, who are successful entrepreneurs who have started small, but reached great heights. Your business plan need not be the size of a fat novel, it can be concise but it has to include all the essential points to define your business. A good ten page plans is quite enough to include all you require to begin with.

7. Build your reputation

Building-brand

 

You need to promote your business well and establish yourself a reputation. You can do this through blog maintenance on a good website, or volunteer your skills and time. This will show the community instead of just telling them what you are, and thus helps in building trust and expertise.

8. It can never be late

never-late-better

Not every successful entrepreneur has started in their early twenties. Many of them have started late in life. Take Sam Walton of Wal-Mart, Chef Julia Child and author J.K. Rowling for examples. They have starts late in their life and have achieved great heights in their field. So it is never late to be an entrepreneur, you just need the passion and skill and age is just a number.

9. Build a good team

team

 

To achieve success faster, you need to find people who share your passions. Find the skills requires and the attitude which supports your brand you want to establish. This will spunk innovation and increase your reputation. Include people from outside your business, whom you trust. These people will begin a free marketing chain reaction and build your revenue, confidence and reputation.

10. Keep your attitude in check

attitude

The founder’s attitude determines the success. An entrepreneur’s attitude sets the tone for business. Laziness, pessimism, wasting time and money will spoil the reputation of the company.  Success will depend on the mistakes you make and accepting the blame in stride. When you have the gut to accept the mistakes and face challenges ahead of you, you will transform from being just a business owner to a leader, an inspiration.