5 Key Tips For Becoming A Successful Entrepreneur

Business Is Not A Job

Frustration Can Make Anyone Feel Helpless. Follow These Tips

I learned a lot of important things from the E-Myth Revisited by Michael E. Gerber. Be that as it may, one thing remained above everything else. It was not to make your business a job. Many entrepreneurs fail to realize the difference between a job and a business. If you have a business, and you are working day in and day out each day. You must realize, that it has become a job. Always working and there is no freedom for creativity.

“If your business depends on you, you don’t own a business – you have a job. And it’s the worst job in the world because you’re working for a lunatic!”

-Michael E. Gerber

So what is a proper business, and how can I create one. Well, a good business would be an asset, that constantly generates money without a lot of effort. A businessman or entrepreneur should always have the freedom to sort out problems and keep expanding. Likewise, it is very important that your business shouldn’t be dependent on individuals. Rather, circle it around a system that is highly independent.

Being an employee vs having your own business
Employee is Always Busy, While the Business Man is relaxed looking at reports.

The reason Ray Kroc became so successful, was that he made a system. A system so powerful, that anyone could open a franchise through it. Further, hire highly skilled individuals and make them run for you. Here are some Tips For Becoming A Successful Entrepreneur:

  • Always hire people smarter than yourself.
  • Train employees to make money for you.
  • As an entrepreneur, you shouldn’t waste your time on things where employees are needed. Apply your creativity elsewhere.
  • Build Assets, that can provide consistent revenue. Examples would be Car Rental, Real Estate, and Auto blog.
  • Learn to differentiate between Job and Business.

Discipline

Discipline & Focus Wallpaper - Album on Imgur
Spartan and Socrates

If you are not an admirer of Discipline, you are going to fail. A successful entrepreneur can only build a good business if he himself is disciplined. Apart from business, Discipline will also transform you as a human being. Your Approach to things and life will completely change. Discipline will also force you to stop daydreaming and start something.

I’ve seen a ton of business visionaries with extraordinary thoughts, that are rarely executed. The motivation behind why some are effective and others are not, is on the grounds that one can complete things while other continues thinking.

“Discipline is the bridge between goals and accomplishment.”

— Jim Rohn.

In contrast, if you are lazy, slow, and an avid procrastinator. What will your employees think about you? That is to say, if you are going to build a business. You have to become a leader, mentor, an inspirational figure, or perhaps a Role Model for everyone around you.

Communication

Communication is a very underrated aspect of today’s world. Entrepreneurs who are unfamiliar with clear communication are never going to succeed in their journey. The manner in which you talk, tune in, and arrange is significant. These parts of correspondence will characterize what your identity is. Most Importantly, these will uncover your character, tolerance, certainty, and essentially everything to others around you.

Additionally, communication also becomes an important factor, when you have to motivate your employees. If there is no charm and power in your communication, no one will truly listen to you.

If you want to improve your communication, then I’ll recommend starting reading excellent books like “How to Win Friends and Influence People by Dale Carnegie”. Likewise, here are some communication tips that you should practice.

  • Never Argue (Nothing good comes out of it).
  • Ignore what others say.
  • Take Criticism in a Constructive Way.
  • Be a good listener.
  • Allow others to speak first.
  • Avoid Criticism in front of others.
  • Respect Other’s Opinion and Beliefs.
  • Instead of talking about your interests become genuinely interested in what other’s have to say.

Risk

Risk-Taking for Leaders

There are times when entrepreneurs are always trying to take the safe passage. However, the harsh reality is that the safe passage will never get you to where you want to get. If you want to become a successful entrepreneur, take risks, and fail big. Many leading entrepreneurs around the globe have constantly taught us that start taking risks in business. Without risks, life and business are dull. On the other hand, look at the bright side. God forbid if you ever took a risk and failed miserably. Life will teach you a lesson, and you must learn from that mistake or lesson.

“Take the risk, be aggressive, push hard, and set your sights way, way, way farther out than you think you can get. Drive your team toward it every day. That way, if you don’t get all the way to that goal line, you’ve at least gone further than you would have had you tried to de-risk the project up front.”

– Bryson Koehler,

Apart from that, if you took the risk and it worked out. The risk will make you a much more confident person. You will also become a smart investor and risk-taker. Take and a moment, and notice that there are a lot of people around you, who regret not taking those risks in their lives.

Further, start analyzing the risks and keep an alternative. Did you know, most smart investors have so strategically planned the risk, that they don’t even have a Plan B. My favorite quote about risk:

“If you’re not a risk-taker, you should get the hell out of business”

Ray Kroc

Patience

Why Patience Is a Virtue in Leaders | IndustryWeek

Patience is the #1 Factor for being a successful entrepreneur. In the line of business, there is no overnight success. Expect hardships, tough times, and expect your money to be gone. Likewise, always develop a long term mindset. Never expect instant results, because those only exist in films.

A week ago you started your first business venture, and it’s not doing well. You just planted a seed, how can you expect to eat the fruit in the same week? That is an unrealistic approach. In the same vein, always have faith and hope in your decisions.

“Most People overestimated what they can do in one year and underestimate what they can do in ten years”

-Bill Gates.

On the other hand, it is also important that you stay inspired and motivated. Just because something did not work out, does not mean you should change your niche and get distracted from the dream.

Jack Ma, founder of Alibaba failed twice in primary school, three times in intermediate, once in university entry, and got rejected thrice by police and KFC. To sum up, business is unpredictable. All you have to do is stay in control, and become a role model for everyone around you.

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Published by Abdul MoiZ

Hi, I am Abdul Moiz from Peshawar. Want to Become Productive and Disciplined? It's time to start reading my blogs. Also remember, “Be the change that you wish to see in the world.”

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