how to be a successful entrepreneur
TRANSCRIPT
How To Be a Successful Entrepreneur
Entrepreneur
• “A person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk”
• They benefit from all opportunities presented to them and as decision makers decide what, how, and how much of a good or service should be produced.
Interest
• The first step is to like what you do for a living
• This will give you motivation to succeed in your field of choice
• Persevere and never give up, even in the face of adversity
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Risk Assessment
• Do not jump into a business blindly
• Assess the risks and problems that might face you in the future
• Smaller risks in the beginning will protect your business from liabilities later
Learning
• Knowledge of the field you are about to enter is essential
• Learn from other people’s mistakes and successes
• Analyze past performances to come up with better strategies for the future
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Self Promotion
• You have to sing your own praises to market and advance your business
• To the point, precise and interesting explanation for your business to attract potential clients
Avoid Stagnation
• Entrepreneurs are ‘doers’ and cannot afford to procrastinate
• A new business needs constant supervision
• However you cannot over-think your decisions either and have to make brief assessments every step of the way
Plan
• A business plan is one of the most important things an entrepreneur has to take care of
• Investors and customers rely on the business plan to gauge the potential and future of the new venture
• Every step needs to be highlighted and explained in detail
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Credibility
• The business and its owner’s reputation is very important to its future success
• Potential clients and customers will only trust honest, hard working and dependable people to do business with
Team Building
• An entrepreneur’s team is directly responsible for the direction of the business
• Compile a list of the skills, attitude, abilities and education you require from your employees
• Encourage and motivate your team for better innovations and faster growth of your business
Positive Attitude
• Always keep a positive attitude no matter what the situation
• The entrepreneur is the leader and the owner that all the employees, customers and clients will look towards in times of trouble
• Be brave and face each problem you face head-on
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Never too late to begin…
• It is never too late for you to come up with a new concept or start a new venture
• Numerous entrepreneurs in history started off very late in their lives, only to find piles of success later in life
• Your experiences in life make you who you are and the more experience you have, the better
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