“All of us – some secretly – want to become an entrepreneur and the name behind “the next big thing. But why shouldn’t we? With success, the benefits of owning a startup are countless. But clearly, “success” is our the keyword, and 75% of startup ventures never meet it. How do you not become part of that statistic?
Don’t be scared to fail.
Failure won’t stop you from eventually succeeding – in fact, it’s usually an important step. The best entrepreneurs never let the fear of failure stop them from pursuing what they think is a great idea. Some of your plans may not work out, but those that do are the ones will define you.
When your business hasn’t lifted off, your connections will help you keep it afloat and later become your strongest allies. So don’t stop forging connections and seek advice. Build your network even before you need it! Establish a network even prior to need. In fact, this is the best time to start.
Study your niche.
A lot of startups make it because they’ve pinpointed a niche and cornered that market. When you create a service, product or feature that no one else has offered or has been effective offering before, your business gets a shot at success. After all, this lies at the core of the term, “entrepreneur.”
Always find time to be a student.
If you want to succeed as an entrepreneur, you need to be open-minded and always ready to take advice, give new ideas a chance, and listen to those who have been there before. Entrepreneurship is all about solving problems and knowing how to do it while you’re on the go.
Stop worrying about money.
They say wealth begets wealth. But that’s not where it ends. For the best entrepreneurs, the money they earn is not everything – they also concern themselves with how much value they add, whether financial, psychological or social, to make their customers happier.
? but be wise about it.
That said, it’s impossible to add value if you can’t pay your bills. That’s when you need to think of something that lets you support yourself while working on your entrepreneurial ambition. For instance, a part-time job can help you make ends meet while being a perfect networking base.
Listen to the market.
You may think you’ve found the perfect niche, but it’s not going to be the way it is forever. Markets are ever evolving, even fickle, and consumers will always want the best that they can get. Unless you can pivot and react accordingly as the winds of change blow, you’ll be overwhelmed.