How To Become A Successful Entrepreneur By Focusing On Character
75Do you have what it takes to become a successful entrepreneur?
This Hub is in response to another Hubber's question, "What does it take to become a successful entrepreneur?"
This is something of a nebulous, open-ended question, but having had a few businesses so far (failures, bruises and some successes all thrown in), there are certain traits to the successful business owner that are simply timeless.
Some examples of those who have inspired this Hub are: Hershey, Edison, Ford, the Wright Brothers...there are countless others to add to the list.
All of these businessmen have a few traits in common:
- Focus
- Determination
- Ingenuity
- Attitude
- Humility
Focus: Perhaps single-handedly, being in business of any sort requires a focused approach to get anything done. Getting goals firmly set, written out, and worked towards is a secret trait reserved for the most successful.
Determination: In the face of adversity, failure and solitude in many cases - even bankruptcy! - determination to succeed will keep the most tired dog in the fight. Winston Churchill's famous speech before Britain comes to mind, "Never give in! Never give in!" Determination has won many battles, made heroes out of many nominal and otherwise nameless faces, and has rescued many from the brink of failure.
If anything is guaranteed in business: it is failure. Small or large, failure is par for the course. Only the most doggedly determined, even stubborn-to-succeed, make headway. Having said that, the flip side is knowing when to quit.
Personally I had a franchise opportunity that went south in a matter of months, and didn't realize it was time to quit until it was almost too late. Determination to succeed also means cutting your losses when it's time. Be determined to succeed, but do not be stubborn to the point of bankruptcy. This takes wisdom and much council.
Ingenuity: This is not to be confused with being a genius, though that would help! Rather, ingenuity is the gut-instinct it takes to navigate sticky situations. How do you handle adversity? Do you see only one rigid solution to a problem? Ingenuity will allow you to be flexible and creative enough to navigate the waters when you're in a shallow, rocky or otherwise challenging waterway.
The good news is that if you aren't ingenious, then you can always hire someone who is.
Attitude: If circumstances challenge your attitude to the effect that you cannot overcome a paralyzing depression, or if your performance is tied to your mood - then this could be a problem. Business is dog-eat-dog, competitive, fierce and often cold-hearted.
How do you take the pressure? Can you roll with the punches, and find the silver lining in the darkest of storm clouds? A positive attitude ties in well with determination, and can lead to ingenious solutions where other, lesser men and women would have given up.
Attitude is often tied to maturity, so the great news is that you can learn to have a better attitude.
Humility: Too often, pride goes before the fall of many well-intentioned, proud business owners. If you are too proud to ask for help, too proud to take correction when your clients tell you how to improve serving them, or if you think your customers are there for your convenience and not the other way around - then business may not be your thing.
Humility is not "humiliation," it is rather that unseen strength that holds its tongue rather than touting its superior knowledge. Humility is the strength to help those who cannot help you, to pick up your staff by serving them rather than making a list of demands and cracking whips...leadership and entrepreneurship requires someone strong enough to lead humbly.
To have a truly successful business, a little humility attracts business, attracts loyal customers, and stands out in stark contrast to the milieu of puffy-chested, childish and brash business owners who have forgotten that their business depends on having customers.
A humble business owner would be willing to listen to advice from wise counsel, and to seek it from those qualified to give it (customers are always qualified, by the way). Humility asks, "how can I serve you better?" Armed with such an attitude and these traits, you should have no trouble succeeding.
Is this an exhaustive list? Not by a longshot! There is the need to conduct market research, to fund your business ventures properly (I prefer to do so without using debt a la Dave Ramsey), conduct feasibility studies on some level, be willing to join local business groups and have successful (not broke!) mentors.
Then there are the financial and business aspects - are you educated in your field? Do you know how to conduct marketing properly? How will you grow your business as you operate the business? Do you have legal help?
However, I have chosen rather to answer the basic elements of how to become a successful entrepreneur, using the most important facets of success. Begin there, and then be sure to follow through with the practical steps as well.
What Do You Think - Will These Tips Help You Succeed?Loading...
Thank you, mailxpress - a lot of this Hub has been inspired from some of the best people I know in business, and the effect that their character has had on motivating me to give 110% (if that were even possible!).
I couldn't agree more having been there and done that. It takes focus, determination and the never giving up on what you want to achieve...well written.
Instead of giving disappointment power in your life, keep your focus on what you DO want and leave what you don't want alone.
I don't subscribe to the "Law of Attraction" at all, but I do subscribe to freedom of speech. I also believe that if you do negative things - like if you give crummy service, that sort of thing - naturally you will have negative consequences.
Galatians 6:7-8 I believe talks about that.
excellent hub. focus, determination, self discipline and self motivation are the keys to become a successful entrepreneur. I believe there's a phrase, it's not failure that determines who we are but how we respond to failure.
I'll be honest with you, this was a hard to read hub...makes me think twice about some past choices I made, to get into debt years ago.
But then again: I'm debt free now, so I can say this was good. Just painful to read.
Everyone who feels like giving up should read James Dyson's autobiography. What a guy...took him 14 years to realise his dream, he was shafted more times than a coal miner...go read
Entrepreneurs and Successful Thinkers
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mailxpress Level 1 Commenter 23 months ago
Excellent explanation of humility. I agree working with your team/employees rather than a demanding list which usually backfires.