There is a lot of difference in becoming an entrepreneur and becoming a successful entrepreneur.
Not a lot of business owners are ready to accept the fact that they might be far away from success due to the wrong approaches they have assumed towards business decisions. Behind every successful entrepreneur, there is at least one motivator and mentor.
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This set of 10 tips for entrepreneurs by Jared Davis is one such list that only comes from entrepreneurs, who have also been great mentors –
- Keep an open mind
You need to evolve to remain relevant in this competitive market. Sometimes, you might need to take a step back and evaluate what’s right for the business, even if it seems too radical. You will have to embrace countless fresh ideas and business proposals.
2. Be a leader and not a boss
Being a boss is easy, but being a leader takes grit. Being a leader means not only commanding your employees during tasks but to lead them across the challenges to success. Becoming a leader takes confidence, tenacity, patience, and foresight.
- Invest in long-term relationships
While in business, you will learn that all relationships matter. Contrary to the picture, the corporate world paints right now. You will need your most trustworthy and loyal friends, family members, and well-wishers around you when you climb that ladder of success.
- Be inspired
Motivation, enthusiasm, and inspiration should not ring like empty words. You need to remain inspired to motivate an entire team that you will head pretty soon. A great way to encourage a team is by remaining optimistic even in the most challenging of situations and celebrating with the team after success.
2. Invest wholly
You need to invest with your heart and soul if you believe in your business plan. Inspire your team to invest their hard work, focus, and time in your enterprise. Your team is the fulcrum of your enterprise, and you need to show your team that you believe in your plans for them to trust it too.
3. Spend time on research
Success never comes accidentally or serendipitously. You need a thorough understanding of the target market based on current research. That also means that you need to keep updating your data on your market demographics to remain relevant.
- Listen to the consumer
We know how annoying “consumer is always right” sounds, but irrespective of how much you dislike it, you need to listen to your clients. The only way to see success is by making your target consumers happy, and there will be no satisfied consumers if you don’t listen.
- Spend time networking
Networking is mandatory for all entrepreneurs. Don’t pass up the opportunity to learn from experienced executives and brand owners. Spend time on meetings, luncheons, conferences, seminars, and boardroom discussions where senior entrepreneurs are present.
- Learn every chance you get
It is alright to be wrong. A successful entrepreneur never stops learning. So, if you come to know about a new software or application, business model or strategy, feel free to learn with your team. It will help everyone bond and move another inch closer to success.
2. Always over-deliver
We are not asking you to under-promise, but whenever it is time, try to deliver more than what you owe. It is a time-tested tactic, but it always plays well with clients in the long run.
While more than 5,00,000 people become entrepreneurs each month, only around 1% see success. Becoming a successful business owner takes more than capital and luck.