How to: Succeeding as an Entrepreneur
by Gerard Young
No one ever said it was easy to run a business. No one, certainly ever said it was easy to start a business. Despite having a great idea, drive, determination and talent setting up a business will always have obstacles to overcome which some entrepreneurs fail to address properly and as a result, quit. We have compiled a list of steps you can take in order to help you succeed as an entrepreneur.
Getting a business up and running requires an enormous amount of hard graft, dedication and personal sacrifice. In order to succeed one must be prepared to make financial losses, sacrifice family and personal time and be willing to spend long hours in the office. It is often the case that budding entrepreneurs feel emotionally prepared but when push comes to shove it all becomes too much and they end up throwing in the towel.
Surround yourself with the right people.
Immerse yourself in a thriving environment. One where advice, drive and encouragement are readily available. If you are surrounded by lazy, careless, unconcerned people your company will be dragged down. For example if your Co-Founder isn’t fully committed to your idea or lacks the same vision or drive as you they will only act as a restraint and prevent the business from flourishing. Reduce the chance of a toxic environment from developing by ensuring you have the right team on board!
Get a Mentor.
More often than not a budding entrepreneur will have a great idea but not know how to implement this plan and turn it into a feasible business model. IIBN offer a number of mentorship programmes from which entrepreneurs can gain expert knowledge in a range of different fields, increase confidence, develop networks and learn new perspectives and approaches setting them on the right path to success.
Rid yourself of distraction.
Sheer focus is essential for any budding entrepreneur. There are only so many hours in the day and these need to be used to the best advantage. It is important to prioritise day to day activities and be willing to cede day jobs, family life and other distractions in order for your idea to succeed. That being said it is important to set aside an hour or two a day to blow off steam and indulge in what you enjoy outside of business life, whether this is sport, reading or spending time with kids its this time that will keep you sane.
Don’t take on too much.
Similar to the point above, a mistake budding entrepreneurs often make is trying to take on the world and burning out in a flash. The road to success is a long and winding one and if business owners don’t effectively divide their time into manageable chunks, delegate work evenly and have patience it’s likely they will not finish the race.
Adopting a positive outlook and attitude is absolutely imperative for success. If you don’t fully believe in yourself and your idea you are going to have a terribly hard time trying to convince others that your concept is worthy. A business owner will undeniably encounter hurdles in abundance especially at the beginning. Without entire belief in yourself and the business it is inevitable that negativity will get the upper hand resulting in surrender.