How to be a successful entrepreneur? It is one of the most exciting professions in the world, but also the most risky for those with it.
You become an entrepreneur when you start your first business. However, we can’t define the process from start to finish because you must take many more actions before you start your company and start the journey to become one of the successful entrepreneurs.
In the following 87 points, I will share some advice, thoughts, and action steps that you need to take to become a great entrepreneur.
Start with You as One of the Future Aspiring Entrepreneurs
1. Be Unique if You Want Success
You must be different from the rest of the world to become a successful entrepreneur. It means you’ll need to see the world with different eyes from everyone else. You’ll need to see opportunities where everyone else sees problems.
Remember that your company will be unique based on how much you are unique.
If you are unique, you probably already think differently from the rest of the world.
So, to be a successful business owner, you must find different, more efficient ways to solve the same problems. That’s the difference between entrepreneurs and the rest of the world.
Think differently and find better, more efficient solutions to the current problems in the form of your business idea. In such a way, you are halfway to becoming successful.
Successful small business owners have great ideas that are unique, different, and useful for potential customers. Suppose you want to build a company with high potential business energy and be a successful business owner. In that case, you must consider a great business idea, not an average one.
2. Dream About How You Will Change the World
Each great business idea can change the world. Look at Apple and Steve Jobs. They change the look of the world that we know from the past. If you want to become a successful entrepreneur, you will need to dream. Dream about impossible things because nothing is impossible.
3. Follow Your Passion To Be a Successful Entrepreneur
To be a successful entrepreneur, you must include your passion for your own business. Your personal feelings and emotions make you feel a positive affinity for something you do. You will need it for your company because only in such a way you can become persistent in moving through all barriers around you.
4. Think About What Makes You Happy
Most entrepreneurs don’t think about themselves when they start their own company.
Research has shown that entrepreneurs who maintain a positive mindset and demonstrate happiness tend to be more innovative, show better problem-solving skills, and have a higher chance of success in their business endeavors.
If you become a small business owner, it doesn’t mean that you need to be unhappy. You are in first place in your company.
5. Think About Your Personal Objectives
You are a human being before and after you become an entrepreneur. You must think about your personal objectives that need to be accomplished when you become an entrepreneur.
6. Find Your Unique Personality
Your unique personality as an aspiring entrepreneur will differentiate you from the rest of the startup entrepreneurs and, simultaneously, differentiate your company from the rest.
7. You Must Be Disciplined Entrepreneur
If you want to become an entrepreneur, forget about indiscipline. You must be a disciplined person on an everyday basis. You can not do the job if you are not a disciplined entrepreneur.
Aspiring Entrepreneurs Must Prepare Themselves
8. Learn from Successful People
If you want to become an entrepreneur, you must start to learn from successful people. Identify yourself with them, and start implementing what they are doing for their success.
9. Read Books from Successful Entrepreneurs
Plenty of books from successful entrepreneurs can give you the knowledge you need to become a successful business owner. In these books, they share their experience building the business and the journey of becoming successful entrepreneurs.
10. To Become a Successful Entrepreneur, You Must Read a Lot
You must read a lot because it is the only way to increase your knowledge and entrepreneurial skills. As you know, your competencies and higher business potential energy are the basis for your entrepreneurial success.
There are plenty of blogs written by most successful entrepreneurs that you can read daily to increase your knowledge, improve entrepreneurial skills and find useful ideas or new technologies.
11. What About Your Own Risk?
Think about your own risk. How much risk could you tolerate? This is an essential question for you as an entrepreneur.
12. Believe in Your Expertise
How can you expect your customers to believe in you or your company if you don’t believe in your capabilities? Start believing in yourself if you want everyone else to start believing in you.
If you believe in your capabilities to become an entrepreneur, you will have enough self-confidence for such a job. If you don’t have self-confidence, start finding ways to increase your self-confidence right now.
13. Develop Your Greatness
If you think you are not so excellent, start your company now and develop your greatness. You will need it.
To become a successful business owner, you must be great at something. You need to be better than everyone else in those subjects. Are you?
14. Find Your Best Inspirations
What inspires you? Your inspiration will lead your company in the future. Make a list of all things that inspire you and start incorporating all items in your everyday life and work.
15. Don’t Rely on Accidents
Accidents are not the rules in entrepreneurship. Don’t rely on them in your company. Instead, try incorporating as many facts as possible in your decision-making process.
16. Be Patient. Entrepreneurship is not a Quick Rich Strategy
You’ll need to be patient. Entrepreneurs are patient and know that the success of their first business is not an overnight success.
17. Prepare Yourself for the Worse Case Scenarios
You need to know that, statistically, most businesses fail. It means that more people will not succeed in entrepreneurship. You will need to prepare yourself for the worse scenario with your company.
18. Do You Have Your Plan B?
A successful entrepreneur always has a plan B in his pocket. They know they will need to do something different if something goes wrong.
19. Probably, You Will Need to Sacrifice Your Current Lifestyle
Every successful entrepreneur knows that achieving success comes with sacrifices. That’s why it’s important to be willing to make the necessary sacrifices early on.
To be a successful entrepreneur will require you to sacrifice some or, in some cases, the whole of your lifestyle.
This means reducing your standard of living by reallocating funds to invest in starting a new company. Sometimes, you will spend whole nights working hours to progress toward your goals.
20. Evaluate but Also Finish Evaluations
If you become an entrepreneur, your job will be to evaluate but don’t let your evaluation last forever. Evaluations must be finished, and their results must be implemented into your organization.
21. Don’t Forget About Your Strengths, Weakness, Possibilities, and Threats
Always try to improve your strengths and, at the same time, eliminate all of your weaknesses.
Also, you need to look outside of your company. There are possibilities and threats.
22. Think Twice Before You Start
Wait for the moment, and think again before you start. You need to check all points explained here.
23. Be Positive, Even if You Lose
Never be negative, even if you lose. If you lose the battle, that doesn’t mean that you will lose a war. If you are a persistent person, you will succeed.
24. Eliminate All Your Obstacles to Success
You will have many obstacles on your path to becoming an entrepreneur. Always try to eliminate these obstacles.
25. Think About the Biggest Problems and Needs
The world will always have problems that still require solutions. Find the biggest one you can solve and transfer it to your company. That’s a way to build a profitable business.
Remember that behind all successful and unsuccessful businesses is a business idea. So, it is the starting point, and if you have better, more creative ideas, you will be close to success.
On the market, there are also needs. You must find the biggest one and incorporate possible ways of satisfying those needs into your company, products, and services.
26. Think About The Best Solutions to Problems and Needs
Each problem needs a solution that will satisfy some of the biggest needs on the market. Make the best solutions to the existing problems and needs on the market, and you will be close to success.
27. Start With Networking
You will need as many networks as possible for your company. You cannot start a company without networks that can help you to launch your company to exponential success.
28. Start Listening
Listening has become one of the most important business functions today. You will need to listen if you want to know about the problems and needs of your customers. These are instrumental pieces of information that you can incorporate into your company.
29. Now, What’s Your Target Market?
Clearly define your target market if you want to give the best from you to satisfy customers on them. You’ll always need to be where your target customers are. Listen to them, educate them, help them… This is your job as an entrepreneur.
30. Brand Your Company if You Want to Succeed
What about your company’s name or logo? Make something recognizable.
31. Don’t Forget to Talk About Your Business Ventures
If you want to become an entrepreneur, start talking about your passion, future business, and about problems that it will solve. You will need to start creating buzz around your dreams from the beginning of the process.
32. Use Smart Marketing, Not Expensive Marketing
You’ll need to be a smart marketer, not a marketer that will only spend money without results.
33. Always Try to Inject Viral Elements in Your Marketing Weapons
Your marketing weapons need virality if you want to be seen by as many potential customers as possible. Include something funny and shareable in your marketing weapons, and you will reach an unlimited market for your company.
34. Communicate Your Value
Always check your marketing weapons to see if you always communicate the value your business offers to your customers.
35. Start Blogging for Your Business
Blogging is one of the most powerful ways to share a word about your business. Why are you not using it?
When you blog about your business, don’t try to sell. Instead, educate. It’s not about you or your business. It is more about your customers.
Vision, Mission, and Strategy
36. What’s Your Vision?
How are you see the future of your company? Where will your business be after five or ten years? Your vision is important for your future success.
37. Mission Statement
Your mission statement will be the core of your business success. It will define who your customers are and what you make to satisfy them. You can find 30 great mission statements with templates to develop your own.
38. The Strategy
You need a strategy if you want your vision to become a reality. Without the strategy, you will lose on your entrepreneurial journey.
39. Develop a Clear Business Model
Draw your business model on a piece of paper. You can see the connections between the most important business elements.
40. Plan Your Path to Success
You know where you are now and where you want to be after five or ten years. Next, you need to connect the dots. You need to draw your trajectory to your vision. That’s your plan.
41. Prepare Yourself for the Next 2-3 Years
You must prepare yourself for the next 2-3 years. Try using data and different facts from inside and outside your business to predict the future and prepare for that future.
Develop Your Business Plan
42. Write a Business Plan
The business plan will be your path to success. You need to transfer everything you make until here in a great plan.
43. Define SMART Goals
Goals are essential for your entrepreneurial success. So, set clear goals and objectives that are measurable, achievable, realistic, and time-limited.
By having clear goals that you can track and measure, you can stay on track with your progress toward achieving those goals.
Take the time to break down your larger objectives into smaller tasks so that you can better manage all possible workloads and prioritize tasks over other projects.
When you set up your business goals, check if they are SMART goals (Specific, Measurable, Achievable, Realistic, and Time-Limited).
44. Be Realistic When You Plan Your Business
Having realistic expectations and keeping them in check by SMART goals is important. Your success will depend on the hard work you put in. Set realistic expectations of your capabilities.
So, don’t lie to yourself with your business plan. Make it as real as possible. When you need to realign your plan to be in correlation with reality.
45. Ask for Help if You Need It When You Plan Your Business
Sometimes you can’t make all your plan’s predictions, analyses, and calculations. If you need help, do not hesitate to get the help.
46. The Best Plan is When You Include Answers from Potential Customers
Ensure that your business plan has incorporated the answers from your potential customers. It is important because your company will serve them.
47. Keep Your Plan as Simple as Possible
The most important thing is that you and your employees understand your plan. Avoid the complexity and rules you learn in school about the business plan.
The best business plan that I have seen is based on bullet points. The bullet points are the simplest form that ensures the plan’s implementation.
48. Do Not Forget About Responsibilities
On the other hand, bullet points need clear responsibilities for implementation. Don’t forget to include them on each point.
But, Without Execution, You Will Not Succeed
49. Stop Dreaming, Start Doing Something
Now is the right time to stop dreaming and sleeping. A person that only dreams cannot become an entrepreneur. They are only dreamers. Entrepreneurship requires execution in addition to dreaming. Because of that, start doing something about your dreams right now.
50. Do It Better Than Everyone Else
You don’t need to reinvent the wheel. You’ll need only to do it better than everyone else. This will require continuous improvement in the personal and professional fields.
51. Use To-Do List
If you want to be systematic when it comes to execution, you must systematically be more organized and use the to-do list that will help you finish the biggest priorities each day.
52. Conduct Technology Evaluation
You can use this guide to do technology evaluation using the technology readiness level and technology adoption curve. In such a way, you will evaluate your company’s readiness for technology from one side and market readiness on the other. If you want funding for your ideas, like funding from business angels or venture capitalists, these evaluations will help you.
53. Start With Your Prototype
It’s time to make your prototype of your products or services. It doesn’t matter what it is. You need something to show to your customers and test everything you have developed until now.
54. Try Yourself on the Market
Maybe your prototypes of products and services are the best in the world, but you are not the judge. The market and customers are judges of that.
55. Implement the Feedback From the Market into Your Product and Service
Why are you trying yourself with a market if you don’t implement the feedback from the market in the form of improvement of your products and services or your overall future company?
56. Make Your Products and Services Easy Understandable
You cannot expect to sell your products and services if they are unclear to your potential customers. Make them easily understandable and clear about what they do from the first interaction.
57. Your Product Will Need to Evolve
Yes, today, you can not develop one product and sell it on the market forever. Use the product life cycle to follow your product’s progress and make the appropriate decision for the new product development process.
58. Build a Business, Not the Product
As an entrepreneur, your focus should be on building the business rather than solely focusing on the product or personal job. While it’s important to create a product to sell, it shouldn’t be your sole responsibility. It’s crucial to find ways to balance these tasks effectively.
You Need to be a Manager
59. Always Work on the Improvement of Your Managerial Skills
Put this inside your to-do list as a repetitive task to remind you that you want continuously work on your managerial skills. They are important for your future. Only with the right skills you can effectively manage your team members.
60. Don’t Forget About Leadership Skills
You want to be leader for your team members, so leadership skills will help you achieve your success.
61. Think About Your Unique Company Culture
I know that you think it is too early to think about your company’s culture, but it is essential to start with the strong ground. It is a foundation for your future company growth.
62. Clearly Define the Delegation Process
The delegation will be an important part of your future company. Now is the best time to define the delegation process now.
63. You Are Not Alone
Understand that you are not a one-man show. You are not alone. Use your team members to grow your business.
64. Recruit Smart for Your Business
You need to develop and use a process to recruit the best possible employees for your company. Having a talented team will increase your future business potential energy.
65. Motivate Smart
Employees need to be motivated to get the best from them. So, be smart when you use motivation.
66. Lead Smart
You are the leader. Your job will be to lead your team members.
67. You Can’t Satisfy Everyone
Understand that you can’t satisfy everyone. If you want to satisfy everyone, you will lose much of your business’s potential energy.
68. Don’t Forget to Ask Questions
Ask questions. Ask a lot of questions. The answers to your questions will help you to grow your business.
69. Think About Outsourcing
You can increase your productivity if you include outsourcing in your business model. So, it is worth thinking about at this moment.
70. Permanently Eliminate Problem Causes When You Solve the Problems
Many entrepreneurs only solve the problem without eliminating the problem’s causes. If you want to eliminate repeating occurrences of the same problems, you’ll need to remove the problem causes quickly after you solve the problem.
71. Don’t Underestimate Resistance to Change
Change is the only continuous process in the business world. But, sometimes required changes will not satisfy everyone, but some of them will resist such changes. So, learn more about the factors that cause resistance to change.
72. Improve Your Negotiation Process
Negotiation is essential in business. You can’t avoid it if you want to achieve better sales or purchase terms for raw materials. The goal is always to improve your negotiation skills.
Your Customers as Your MVPs
73. Let Your Focus Be Always on Your Customers
Your customers are your bosses if you want to become an entrepreneur. You need to focus on them as something primary for you.
74. Create Value
You will sell the value, not your products and services. So, everything you do in your company must be through the prism of value creation for your customers.
75. Deliver Your Value
The value is not about you. It’s about your potential customers. Because of that, start with delivering right now.
76. Develop an Irresistible Offer
An irresistible offer can’t be resisted and will provide long-term success for your company. Try to make an irresistible offer.
77. Always Search for Referrals
Referrals can increase your business’s potential energy drastically. Because of that, you always need to search for referrals.
78. Always Research and Observe Everything Around You
Your decisions must be based on the right information, time, and place.
You must always research everything around your company. Don’t overestimate the potential of powerful market research to make decisions that will bring you closer to success.
As a future entrepreneur, you will need to be a good observer. Observation will make you a better decision-maker. The crucial questions you will always need to ask if you become an entrepreneur are why, what, who, when, and how about everything around your company.
79. Always be Transparent
Transparency will make your company much stronger than you think.
80. Build Long-term Relationship With Your Customers
It is essential to make strategic decisions that foster long-term customer relationships. Use the following list of 50 recommendations to build long-term customer relationships.
Sales & Sales Strategies
81. Develop a Plan About Repeating Purchases
Successful businesses rely on repeat customers. You’ll need to develop a clear plan to ensure repeat purchases. This will bring you to the point where your company will grow exponentially. Start with these five ways to sell more to current customers.
82. Develop an Efficient Sales Process
83. Know How to Get Yes from Your Customers
Follow these five tips to help you get “yes” from your customers.
84. Use Different Sales Tactics and Strategies
Explore different sales strategies and tactics to find the best ones to generate the most of your sales. You can start with these 60 different B2B lead generation tactics and strategies. Also, you must ensure you are present where your leads are, so use these 30 places to find prospects and leads.
85. Know the Metrics of Your Sales Funnel
86. Focus on Customers With the Right Purchase Intent
You must find and target customers with the right purchase intent for your company. This means customers that are closest to purchasing decisions.
87. Good Luck, You’ll Need It
You will need luck. But, if you follow these tips, tricks, and bits of advice, you will succeed as an entrepreneur.