First understand what is entrepreneurship, Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire, and the people who do so are called ‘entrepreneurs‘. The major key for becoming a tycoon is setting your goals and makes them clear and then the second step is building the path for achieving your goals.
Joel Brown of addicted2success says, “There are 86400 seconds in a day, but this means nothing to you if you don’t know how to use it. Make it count.” He has said something incredible which makes an amazing sense if you are in a mood to understand it.
An entrepreneur or tycoon is also known as a dreamer the reason behind this saying is that the initial step is dreaming and desiring to fulfill something specific and precise. Only then a businessman is at the stage of defining can the ways and tricks to make those dreams a reality.
There are many well-known business tycoons in the world, who when started with 0 and today having a defined status at the top of the world.
When we talk about famous entrepreneurs, the first name that strikes our minds is Steve Jobs, Henry Ford, Mark Zuckerberg, etc. They are those people have changed their lives and made it big in their lives, achieve everything whatever they desired and has encouraged millions of people across the world, became idols of many people.
1. Be Passionate for your Dreams
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In 1975, a young and enthusiastic 20-year-old Jobs and Wozniak set shop in Jobs parents’ garage, dubbed the venture Apple, and started working on the a first or preliminary version of a device or vehicle from which other forms are developed or we can say on the prototype of the Apple. This is the level of passion , dedication and commitment a tycoon needs to put in in order to fulfill their dreams. For everything there is a first time.
2. Understand your customers and their needs too
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Its customer’s kingdom. And every tycoon wants to design a product that they can sell and make profit. For doing such things and proposing services, what the thing that one needs is to understand the targeted customers, what their lifestyle is, what their purchasing power are, and what are their current needs. Only based on this analysis an enterpriser can predict the demands which are coming and then design the solution that can fulfill those demands.
3. Become a true leader
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Every successful entrepreneur must have a quality of being a true leader. According to John C Maxwell who says “A leader is one who knows the way, goes the way, and shows the way”
Clarity of objectives is the key and it’s an important factor in explaining the path which has to be followed. But the job of a leader does not end with just explaining the ways to attain the intentions or you can say just attaining the target. An entrepreneur has responsibilities to lead his team to make them understand which are the correct ways and always there to support them in problem-solving. It is very very essential to encourage your team members to give higher attempts, do as much as they can, motivate them, towards company’s objectives.
4. Welcome new ideas from your team
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You must know that your team is your strength. You can really get many fresh and creative ideas from your team members. What you have todo is, just Talk to your team members and encourage them, motivate them, tell them to think something out of the box and come up with all new brand ideas. Just provide them a chance.
An entrepreneur must know that he have to value and identify young and enthusiastic talent and providing them a chance to create and innovate with their ideas and knowledge.
5. Major Focus is must be on sales
Picture Credit: entrepreneurWhen you are at the very first stage i.e., just starting up, the most important factor which affects the most is cash flow, which you can maintain only with consistent sales that means sales cannot be stopped. Yes they must increase but no chance to decrease. They must be at least constant. Kevin O Leary said something amazing, “If sales roll in, you validate your concept. If customers are willing to buy your product or service, it proves you have the right idea and now you just have to make it bigger”.
6. Have patience and just believe in yourself
It is not mandatory that you get the results according to you or you can say that exactly as you have expected. Sometime Things go wrong or there can be some irritating other issues. All These hurdles are just the part of entrepreneur’s life and one has to deal with it while keeping patient. You can’t run away, you have to face it. So face it strongly.
The one who believe in their hard work, in their team, who have the power of never giving up on their dreams and have the courage of keep going, are the ones who write their own success story.