Starting and running a business is exciting, challenging and fulfilling experience. The key to enjoying the ride to the fullest is in the details, so pay attention. To increase the chances of getting where you want to be, be the entrepreneur who does these five things!
Is not afraid to fail – The startup failure rate statistics showing that a bit more than 50 percent of small businesses fail in the first four years can discourage even the most ambitious entrepreneur. However, most entrepreneurs want to believe that the odds are in their favor and they will make it to the desired destination smoothly. Well, you probably won’t. The path will be rocky and you will face many failures – it is up to you to pick yourself up, dust yourself off, embrace failure, learn from it and continue your entrepreneurial path now wiser than ever.
Takes challenges as opportunities – Opportunities often come dressed like problems. It is just a matter of an entrepreneurial sense to discover the opportunity in any given situation, so you better keep your eyes open. The next time disaster strikes don’t just look for its solution – look for a way to make the whole situation work for you.
Values each and every member of the team – Good ideas are not enough to build a business – execution is what matters. In order to turn your brilliant idea into a thriving business, you will need the support of a great team. The startup team is extremely important, which is why entrepreneurs must hire thoughtfully. Your team members are your biggest asset, so make them feel appreciated, involved and respected for their input, hard-work, and ideas. And don’t forget to present your team members in your next investor pitch – investors really need to know who is with you on board before they jump in as well.
Networks actively – The global entrepreneurial community is thriving right now. Entrepreneurs, startup enthusiasts and investors from all over the world connect with one another much easier now through social media and various websites. Networking events make it possible for entrepreneurs to meet other like-minded people, to establish strong relationships, to pitch their businesses to a broad audience and to grow their community tremendously. Be the entrepreneur, who networks actively and effectively, and work towards building your reputation in the local and global entrepreneurial scene.
Loves the journey – Entrepreneurs, who are passionate about their businesses, are the ones who make a difference. They keep their focus on the main goal but enjoy every single step they take towards achieving it. It is impossible to thrive in the startup world if you don’t love what you do. The work hours are long, the stress is off limits, the stake is extremely high – if you aren’t driven by passion, you will hate the whole experience and will sooner or later give up.