21 Proven Strategies to Become A Successful Entrepreneur
Anyone can become an entrepreneur by starting a small business or company. But, what matters the most is, the Journey. From starting point to the finish line. It will be hard sometimes, but remember that the most difficult journeys have the most delightful destinations.
How to Become a Successful Entrepreneur?
After reading many great books and case studies of successful entrepreneurs and finding out what made them standout. We got few common reasons behind their success like strategies, habits, mindset and few more.
If you implement this things written below, there is a great possibility of you being successful.
So, Let’s kick things off with strategy #1
1. Be Unique if You Want to Become a Successful Entrepreneur
Be Yourself and Be Unique
If you want to become a successful entrepreneur, then you must be different from the rest of the world. This means that you need to see the world from a different perspective than most of your competitors.
You'll need to find opportunities, when everyone else are complaining about problems. Your business will be unique, if your perspective of fighting with problems is unique.
When you become unique, you'll probably think differently from the rest of the world.
Basically, you'll need to find numerous ways to solve the same problems. That's the difference between successful entrepreneur and the rest of the world.
Think About Great Ideas
Almost all successful entrepreneurs had great ideas that are unique and helpful for the potential customers.
If you want to build a great business and become a successful entrepreneur you must think about great ideas and not the average ones.
2. Follow Your Passion and Dream About How You Will Change the World When You Become a Successful Entrepreneur
Find out your Dream
With every great idea one can change the world. Take an example of Steve Jobs and Apple, his idea changed the world in a better way than it was in the past.
If you want to become a successful entrepreneur you will need to dream. Dream about impossible, because many things were impossible until they were done by someone. Remember not to get confused between impossible and unrealistic.
Find out your Passion
If you really want to become a successful entrepreneur, you must include your passion for your business.
It is your feelings and emotions that make you think and feel positive for something you really passionate about. You'll need it for your business.
3. Think About the Biggest Problems or Needs and Find the Best Solution
Think about Biggest Problems
Our world will always have some sort of problems and still there is no solution for many of them.
You have to find best one that you can solve and add it to your business. That's an innovative way to become a successful entrepreneur.
Think about Biggest Needs
As same as problems in the world, there are needs too. In the market, there is a big demand of needy products and services.
You must find one and come up with best possible ways of satisfying those needs, in the market.
Find out the Best Solution
Each and every problem needs a solution so that it will satisfy some of the biggest needs of the market.
You need to make the best solution to solve those problems and fulfill the needs of the market.
4. Think About What Makes You Happy
Find your Happiness
If you are an entrepreneur, it doesn’t mean that you need to be unhappy. You are at the top most position in your company. Think about what make you happy and do those things.
Appreciate your work and accomplishments in your life. You can find happiness by simply reflecting on your past happenings, and even creating a good work culture.
Don’t Forget About Your Personal Objectives
You are the same human before and after you become an entrepreneur. You need to think about your personal aims and objectives, you need to achieve them after becoming an entrepreneur.
5. Start With Networking and change your personality
Start creating Network
You will need so many networks for your company. It is very difficult to start your own business without any networks that can launch you to the exponential success.
Listening is one of the most important business learnings and origin for many great ideas. You must observe and listen if you want to know the problems and needs of your customers. These are very important feedbacks and details about your customers that you can implement in your business.
Find Your Unique Personality
Your unique personality is something that will differentiate you from the rest of the entrepreneurs, and at the same time it will differentiate your business from the rest of the world.
6. Learn from Successful People to Become a Successful Entrepreneur
Learn from the Best
If you want to become an entrepreneur, you need to start learning from successful entrepreneurs and leaders. Identify yourself with them, and start learning and implementing what they are doing for their success.
Read Books from Successful Entrepreneurs
There are plenty of books from successful entrepreneurs who can give you the knowledge that you need to become a successful entrepreneur.
Learn from their success as well as failures. Why would you need to fail to learn some business lesson, learn from others mistakes too.
Read a Lot
You need to read a lot because it is the best way to gain knowledge and in the same way you will gain your business potentials.
Read Blogs About Entrepreneurship to Become a Successful Entrepreneur
There are plenty of blogs about entrepreneurship that you can read on the daily basis to increase your knowledge about business. You may even find some useful and innovative ideas or some latest technologies.
7. Start Believing in You and Never Give Up, If You Want to Become a Successful Entrepreneur
If you want to become an entrepreneur forget about Indiscipline.
Self-discipline is the ability to push yourself forward, stay motivated, and take action, regardless of how you're feeling, physically or emotionally. And it is really important if you want to become a successful entrepreneur.
Believe in Your Expertise
How can you expect your customers to believe in you and your company if you did not confidence in your own potential?
Start to believe and motivate yourself if you want everyone else to start believing in you and your company.
Increase Your Self-confidence
If you strongly believe in your capabilities that you can become a successful entrepreneur you will possess enough self-confidence for such type of goal.
If you don't have self-confidence, start finding the ways to increase your self-confidence right now. It means you accept and trust yourself and have a sense of control in your life.
Find Your Best Inspirations
What inspires you? Your inspirations will lead you to the success. Make a short list of all things that inspire you and start implementing all that things in your everyday life and work.
8. Stop Dreaming, Start Doing Something
Start It even if the odds are not in your favour
Now it is the right time to stop dreaming and starting up. Remember that only dreaming won't take you to become a successful entrepreneur. They are only dreamers.
Entrepreneurship requires execution in addition to dreaming. That's why you need to take action about your dreams and make them reality by implementing them.
Don’t Rely on Accidents
Accidents are not the part of entrepreneurship. Don’t rely on them in your business. Instead of that try to improve your decision making power and act accordingly.
Be Great at Something
If you want to become a successful entrepreneur, you will need to be great at something. You need to be better than everyone else in those subjects. There must be something that no one in your competitors can do it better than you.
Develop Your Greatness
If you think that you are not ready to start your own company right now, you must start developing your greatness. You are gonna need it.
9. Just Do It Better Than Everyone Else to Become a Successful Entrepreneur
It has to be Better
You do not need to re-invent the wheel. You’ll just need to do it better than everyone else. This will surely require continuous improvement and innovation in the personal and professional field.
Start With Your Prototype
It may be time to make your first prototype of your products or services. It doesn’t matter what it is. You will need something to show to your customers and test everything and get feedback of what you have developed until now.
Try Yourself on the Market
Maybe your products and services are the best in the world, but you are not the judge. The market and customers are the judges who can judge your products.
This is because they are going to use those products and services. And they should feel good. It is really important to improve your product as per customers feedback.
Implement the Feedback From the Market into Your Product and Service
Why will you try yourself with a market if you don’t implement the feedback from the customers in the form of improvement of your products and services for overall growth in your future business.
Make Your Products and Services Easily Understandable
You can't expect that they will buy your products and services even if they are not clear to about your products and services.
They won't convert into your potential customers if they don't understand your product. Simply make them understand and clear about what they are going to get.
Brand Your Business if You Want to Become a Successful Entrepreneur
What about your business name, or logo? Make something really "recognizable".
Branding is the process of giving a meaning to your company and products or services by creating and shaping a brand into consumer’s mind.
10. Think About Goals, Planning, and Risks
Know Your Own Risk
Think about your own risks. Ask yourself with frequent questions.
How big risks could you tolerate?
What kind of risks you could manage?
How can I reduce risks in my business?
These are some essential questions to ask yourself as an entrepreneur.
Don’t Forget to Talk About It Constantly
If want to become a successful entrepreneur, then you must start talking about your passion, about your future business and about problems that it will solve. You will need to start creating a buzz around your dreams from the beginning of the journey.
What’s Your Vision?
How do you want to see your company in future? Think about where your small business will be after five or ten years. Your vision is very important for your future success.
You must have a strategy if you want your vision to become a reality. Without any strategy, you will lose to execute your vision into a reality.
Keep in mind that your entrepreneurial journey is not an easy job from A point to B point. There are many restrictions you will need to overcome.
Develop Clear Business Model
You can draw your business model on a piece of paper. This will help you being clear with your business model and you will don't get distracted. You may see the connections and flaws between the most important business elements after doing this activity.
It is recommended to improve your business model with time and opportunities.
Plan Your Path to Success
You have got to some point now, and from now you know where you want to see yourself in next five to ten years.
Next, you must connect the dots. You have to draw your path to the vision. That is your plan.
Prepare Yourself for the Next 5 Years
You will have to prepare yourself for the next five-ten years. Try experimenting data and different facts from inside and even outside your business to try predicting the future somewhat that likely going to happen and prepare for situation to takle it in future.
Write a Business Plan
Having a business plan is as important as a magic wand to Harry Potter, because it will help you. A business plan will be your well planned trip to success.
Everything that you take you to the Finish line of your journey, you will need to transfer it in a great business plan.
Define SMART Goals
When you set up your business goals, check if they are SMART
M - Measurable
A - Achievable
R - Realistic
T - Time-Limited
Be Realistic When You Plan Your Business
Don’t lie to yourself with your business plan. Make it as real as possible. When you really think it's needed, reconstruct your business plan to run in parallel with the current reality.
Ask for Help if You Need It When You Plan Your Business
Sometimes you can't make all the predictions correct and I worst case you can't even predict that something is coming. That's why you can't analyse and calculate them in your business plan.
That's why, you have to make networks as I said earlier.So, if you need any help do not hesitate to get the help.
The Best Plan is When You Include Answers from Potential Customers
Ensure that your business plan has implemented the answers from your potential customers. It is very important because your company will serve them.
Keep Your Plan as Simple as Possible
The most important thing is to make your employees understand your plan. Avoid the complexity and the overwhelming rules that you have learnt in the school about the business plan.
Use Bullet Points in Your Plan
The best business plan that I have ever seen is based on the bullet points. Because the bullet points are the simplest way to ensure implementation of the plan into the brains as digestible as a cake.
Do Not Forget About Responsibilities
On the other hand, bullet points need to be clear about responsibilities that are going to be implemented. Do not ever forget to include them on each point.
Clearly Define the Delegation Process
Delegation is all about entrusting your co-workers to do the parts of your work, and to accomplish them successfully.
It will be an important part of your future business. Now it is the best time to define the delegation process right after building the plan.
11. Build A Smart Team
You Are Not Alone
You need to understand that this is not a one man show. You are not alone. There is your team to help growing the business with you.
If you are Starting your entrepreneurial journey and can't mange to expand as a team, it is okay to start alone. But when you are all set, make a team and you will see the difference for sure.
You Can’t Survive Alone
If you have started alone, that's okay. But if you want to be alone forever, forget about being a successful entrepreneur. You must understand that you will possibly decrease your chances of becoming a successful entrepreneur as an individual fighting with huge competitors.
Recruit Smart for Your Small Business
You need to create and implement such a process that can and will recruit the best employees for your company or even a small business. They will be your potential strength to establish your company as a leader in your industry
Employees need to be motivated regularly, if you want to get the best output from them. Make them understand what incredible journey you want to take them with you. Think smart on how you're going to motivate them and connect them.
You are the leader, right? Your job will be to lead your small business team members. And increase their productivity to work smart together with you.
You Can’t Please Everybody
You just have to fix that in your head that you can’t please everybody. If you go and please everybody, you might lose to focus on some more important part of your business's potential work.
12. You Must Know Your Customers If You Want To Become A Successful Entrepreneur
Now, What’s Your Target Market?
Just sit for a minute, think and clarify what's your target market. There are tons of small businesses that fail only because they try targeting wrong market. It is really important for getting more sales and satisfy more customers, which will make your small business or company recognizable at that target market.
Always be Close to Your Target Market
You’ll always need to be at the places where your target customers are there. Listen to them, learn from their needs and feedback, educate them, help them on every aspect of your product or service. This is your essential job as a successful entrepreneur.
Don’t Forget to Ask Questions
Ask questions to the customers. Ask a lot of questions. Those answers will help you to know, what people think about your product or service, what they don't like, what changes they want and even what new things they are demanding. This is the most important part of business, this will help you grow your small business exponentially well.
Let’s Your Focus Be Always on Your Customer
Your need to treat your customers like a bosses if you want to become a successful entrepreneur. You need to focus on them like it is the most important thing for you.
People want value from you, not your products or services. So, everything you are going to sell in your business, needs to be value oriented, because if they get value, they buy.
Start Delivering the Value
The value is not about you or your business. It’s all about your future potential customers. Because of that start with delivering value right now. Your products or services must solve problems in the society or their must be need for such products or services.
Make a Really Irresistible Offer
Irresistible offer is something that can not be resisted, this will provide long term success of your business. You should research about how your customers are selling and their pricing. Make your pricing and other details better than them.
13. Start Observing and Experimenting
If you want to become a successful entrepreneur, you need to research everything related to your business. Always know what's happening in the market.
Observe Everything Around You
You as a future entrepreneur needs to be a great observer. Observation will make you better decision maker. You will have better data and it will help you plan more accurately.
Evaluate but Also Finish Evaluations
Your must evaluate what you observe, if you want to become a successful entrepreneur. Your job is to evaluate the data and remember that don’t let your evaluation to last forever. Evaluations need to be completed, and the results from them should be used into your business.
14. Always Ask Why and How
The most important questions that you must always ask if you become an entrepreneur are why and how about everything in every aspect of your business.
- WHY -The idea is that by continuously asking Why you'll eventually arrive at a root cause and learn from the problem the better to avoid repeating unproductive or ignorant behavior.
- HOW -It is the starting point of all the great inventions and asking yourself, How can I do it? will give answers to the problem you are searching.
15. Know Yourself Better than Anyone else and Look for Possibilities
Know Your Strengths and Weakness
We as a human being, have strengths and weaknesses. It is not wrong if your weakness is stopping you, but you not trying to overcome your weakness will be a problem. Always try to increase your strengths and with that same flow overcome some of your weakness. You have to try it and for that you need to come out of your comfort zone.
Always Look for Opportunities
After overcoming your weakness and fear.. You will not be fearful of any challenges you face. In the same way, you should not be feared to catching opportunities. It is really important to give a try for Opportunities you find. Finding opportunities is difficult, keep your eyes open. Grab them before it's too late.
16. Be a Smart Marketer to Become a Successful Entrepreneur
Use Smart Marketing, Not Expensive Marketing
You’ll need to be a smart marketer if want to become a successful entrepreneur, not a marketer who will only spend money without good results. If you are active across social media, you will find how smart marketing have become and how people smartly making simple things look fantastic and complicated things simple.
If this is what you are unable to do, you need to hire a good smart marketing team for you. Ofcourse, not everyone can market like Steve Jobes and Elon Musk. But what you can do is being better than your competitors and be straightforward.
Always Try to Inject Virality in Your Marketing Weapons
Your marketing stuff needs to be virality ingredients in them if you want to get discovered by more possible potential customers. Include something funny, socially helpful and shareable into your marketing weapons, and you can reach the huge number of customers for your small business. When something touches emotionally, people do share it.
Let’s All Your Marketing Weapons Communicate Your Value
Always be sure that your marketing weapons communicate the value that your business is trying to offer your customers. Adding vitality doesn't mean that you should be out of focus to show what the actual product or service is all about. Showcase your product or service, tell what it is for, how it will help them or why they need it and it should be rememberable too.
17. Build Trust and Do What is Right For Your Customers if You Want to Become a Successful Entrepreneur
Always be Transparent
Transparency will make your brand much stronger than you could imagine. Once a customer trusts you, he or she is now just a customer but a free marketing agent for your brand. They will recommend others, and people do try stuff recommend by friends and relatives.
Be Patient, Entrepreneurship is Not a Get Rich Quick Scheme
You will need to be patient. Successful entrepreneurs are patient with results. They understand that success is not an overnight success. Instead it's a years of hardwork and dedication of being consistent and loyal to their work. That's why you should never give up what you're doing too quickly.
18. Plan and Think About Every Possible Outcome
Prepare Yourself for the Worse Scenarios
You must understand that practically most businesses didn’t succeed. It simply means that many peoples don’t become successful entrepreneurs. You will need to evaluate, how worse your journey can become. And, what will you do if worse things happen.
Do You Have Your Plan B?
After estimating how worse it could be, you need to have a Plan B. A successful entrepreneur always has a plan B in his hands. They know that if something goes wrong, they will need to do something. Your plan B is what going to save you. It's like a term life insurance for entrepreneurship. If you unfortunately not able become successful, you can use plan B.
Probably, You Will Need to Sacrifice Your Current Lifestyle
To be a successful entrepreneur you will require to sacrifice some or in worst cases the whole lifestyle. And accept a new lifestyle suitable for being entrepreneur. It is important to improve productivity and efficiency in you and motivate your team more Powerfully.
Develop Plan About Repeating Purchases
Successful businesses offer benifits to repeating customers, because they are the best customers for any business. You will need to develop a clear plan to ensure continuous and repeating purchases. This will bring you to a level where your business will have huge growth.
19. Build an Strategic Mindset if You Want to Become a Successful Entrepreneur
Think Twice Before You Start
You should always be patient for becoming successful. Likewise, you should also be patient in crucial times like when you need to take big decisions. So wait for a moment and think again before you start something new or take big decision. You need to check all points that are important and take suggestions from experienced people in your team.
Think About Outsourcing
Outsourcing is the business practice of hiring a group outside for work rather than inside the company. Outsourcing is a practice usually undertaken by businesses as a cost-cutting measure. You can increase your productivity at an exponential rate if you include outsourcing in your business model. So, it is worth giving a shot at this moment.
Be Positive, Even if You Loose
Never be negative, even if you lose. If you lose the fight, that doesn't mean that you will lose a war. If you are a persistent person, you will stand up again, you will succeed. Be optimistic about what you have learned when you were fighting, when you lost, what have you learned from your competitors, and your customers. Come up with a new strategy, because true entrepreneurs never ever give up.
20. Create Space for People to Know More About Your Business
Start Blogging for Your Business
Blogging is one of the most powerful way to share a word about your business. Question yourself, Why you are not using it? There is an opportunity. You could even get customers through your blog. Educate them about your products/services, your company, your industry and provide answers and guides for frequently asked questions. Same goes with YouTube, video content is dominating everything. Question yourself, why aren't you there?
Educate, Don’t Sell on Your Small Business Blog
When you blog about your small business, don’t try to sell instead educate them. Imagine that you have searched for "what are the types of insurances". What would you expect– 1) a list of different insurance type with detailed information and later a CTA(call to action) for "buy an insurance". OR – 2) someone just trying to sell you a insurance on the whole page instead of providing you the knowledge you needed.
If you choose first, your customers will too.
21. Find those Problems, Stopping You from Become a Successful Entrepreneur
Escape Me, Me and Me Syndrome
As you have learn from the previous advice in this post, you are not a one man army. It’s not about you or your business. It is more about your customers. The ones understood this are now inspiration for many. Stop working alone if you want scalability. I don't mean you can't start alone. Starting up and scaling are different.
Permanently Eliminate Problem Causes When You Solve the Problems
Don't give a chance to takle same problem again and again. It will waste your time. Find a permanent solution. Fix it and move on. Learn from the problem you had. Upgrade yourself and your company out of that problem forever. You need to focus on more important things and deal with them. Predict problem coming in future will help reduce the time wastage. Not all problems could be predictable but which are, don't give a chance.
Eliminate All Your Obstacles to Success
You will have many obstacles on your path to become an entrepreneur. Always try to eliminate these obstacles instead of just crossing it. Obstacles could be any thing like competitors, insufficient capital, lack of resources and bad product or service which needs improvement. It's a journey of life, takle obstacles and keep moving.
Good Luck, You’ll Need It
You need to be a little lucky something. But, if you follow these tips, tricks and pieces of advice, you will succeed as an entrepreneur. I personally believe that the more Hardwork you do the more Luckier you get.
If your really want to become a successful entrepreneur, you need to solve problems, you must learn from mistakes, think smart and change your mindset to be optimistic. Keep working untill you achieve it. There are many points you need to be focusing on, And a positive attitude of believing that "Everything is possible" is what makes a true entrepreneur.