10 Tips For Being A Successful Entrepreneur

Don’t we all aspire to be successful entrepreneurs? How many of us want to create our paths to success? Now because we want to chalk out our plans, it does get a bit confusing with no one to guide us. Finding a mentor to help us through our problems is difficult probably because no one near you, has been where you want to go. It's an ocean of opportunities for entrepreneurs out there.

Here are ten tips for young entrepreneurs aspiring to be successful.
#1. Love What You Do
It is extremely crucial for you to love what you’re doing. Aspiring for success is futile without the passion for your work. You can’t drag your feet to work every day, can you?

#2. Learn From Others’ Mistakes, Don’t Wait To Make Your Own
It isn’t necessary for you to expect to make mistakes. You have to be ahead of the game and learn from the mistakes of others. Re-adjust your strategies after taking lessons from their mistakes.

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#3. Take Calculated Risks, Not Foolish Risks
There is a very thin line between being passionate and being blinded. While it is true, that you maximize gains by taking risks, those risks need enough thinking behind them. Calculate your risks, weigh in your potential gains. You need to handle your venture with utmost care, not be rash about it.

#4. Have A Vision For Yourself And Your Venture
Everybody has different ideas of success. Before you define your goals, you need to imagine what your idea of success is. When you see yourself being successful, you also need to envision where your venture will stand along with it. Share this powerful vision with your peers and employees.
 

#5. Be Service-Minded, Not Profit-Minded
This is where probably many of them fail. Most ventures are profit-driven and soon fall out of a customer’s preference bracket. What makes an investment worth remembering is the service it renders to the customer, creating an everlasting impact. This kind of service drives 'repeat sales'. It is important to know what the customer wants.
 
#6. Be Inspired, Inspire Others
While no one has been on the path, you wish to create for yourself. Everybody has heroes who they look up to. There are certain qualities of our heroes that impress us. Be inspired by your heroes. Share your inspiration with your staff and bring them on the same page. There might be certain qualities about you that might inspire your employees. Go ahead and inspire them.
#7. Ideas Come From Anywhere, Anyone
They say, “Necessity is the mother of all inventions.” Ideas can come from anywhere, even from beyond your specific industry. Some thoughts of the most revolutionary products today find their origins in suggestions from the lowest rung of the employees. Ideas inspire innovation.
#8. Face Your Ghosts
Remember that it’s the rough seas that make skillful sailors. Don’t forget to face your fears. Lead your team through it bravely. Once you’re past your fears, you’ll emerge as a winner. Don’t be afraid to ask for help; it doesn’t make a person look small. Even heroes need help sometimes. Books for Entrepreneurs are a great help too.
#9. Find Good People, Build An Awesome Team
Find the right person for the job. Build a team that has synergy and great functioning wavelength. Hire individuals who have good emotional quotient to work, for they can always be trained to work. Often the skilled person may lack the drive to achieve the targets you set. Hire people who are as passionate as you are to achieving your goals.
#10. Feedback Is Extremely Crucial
Adopt a 360 degrees review in your venture as part of a feedback process. Allow employees from even the lowest levels to give you feedback. Set up a customer feedback system. Address complaints immediately, do not ignore them. Every single comments and criticism can affect your business in the long run.
(Featured Image Courtesy: BizEducator)