None of us are born a successful entrepreneur. We all come into the world in the same way namely naked, scared and ignorant. What then separates us are the choices we make during our lives. These choices can range from whether we go into further education, who we marry, the career we choose, living a healthy life and the list goes on.
Making the right choices are important as ultimately these choices will determine how successful and happy we will become in life. Even when we make the wrong choice, many of us fear changing that decision as we fear taking the necessary action to make our lives better.
This applies to those who have made bad career choices. Many will continue to complain that they hate their job which then impacts on their home life, but most will still not take the necessary steps to change their lives for the better.
Even those who are brave enough to take action and start their own business sometimes still make the wrong choices that will still lead to failure and dissatisfaction. So what separates the successful entrepreneurs from the amateur entrepreneurs?
Both sets of entrepreneurs are focused on becoming successful and both work hard to achieve their goals. However successful entrepreneurs are aware that success will not happen overnight and they build their success slowly and consistently and avoid the common pitfalls faced by their less successful counterparts.
Some of the downfalls that many entrepreneurs experience include:
Slow And Steady Wins The Race
Successful entrepreneurs realise that success will not happen overnight. They acknowledge that even seemingly small steps will eventually lead to the peak of the mountain. Like the story of the tortoise and the hare their goal is about adopting positive behaviour and habits and above all being consistent until slowly, but surely, they go on to win the race. They realise that in order to become successful they will need to work very hard to achieve that success.
They also do not become complacent when they have achieved success. Instead they continue to do the things that have made them successful realising that consistency is key to long term success.
Self Education
Self education in another major reason why some entrepreneurs are more successful than others. Technology is constantly changing and therefore for any kind of entrepreneurship, education is paramount to success especially for those who have online businesses.
Take 100% ownership
To become a successful entrepreneur accountability is a must. You will need to take full responsibility for the way that your business is run. Amateur entrepreneurs have the tendency to blame any shortcomings on bad luck or on other people. However, any mistakes made are, again, as a result of making bad decisions. For example if mistakes are made in a script that has been written for you it is wrong to blame the scriptwriter, as ultimately you should have taken ownership and checked the script before the presentation. Likewise it is your own fault and not bad luck, if you overstretch yourself financially and then factors go against you. A good businessman would make a better decision by allowing for any eventualities that might happen and keep a reserve of cash in case.
Time Management
Don’t waste time doing things that don’t need doing. One of the biggest flaws that many entrepreneurs make is trying to do everything themselves. It is important to manage your time wisely and only the things that you need to do.
Learn From Other Successful Entrepreneurs
This is the most important difference between a successful and an amateur entrepreneur. It is far easier to become successful by being guided by other successful individuals who have been down that path before you. Even famous entrepreneurs have been influenced by other successful people. Richard Branson was advised by Freddie Laker before venturing with his airline and Steve Jobs was inspired by Robert Noyce of Intel.
It is far better to avoid costly mistakes by listening to the more experienced experts. A good mentor will not only teach you how to become successful but they will also let you tap into their own network, allowing you to surround yourself and learn from other successful people.
They will teach you the leadership and behaviour that you need to adopt to become successful.
There are many online communities that will offer mentorship programs by top business experts. The advantage of joining a reputable community is that you will have access to tools,training,focused education and live coaching calls that will equip you with all you need to know make the shift from amateur to successful entrepreneur. With technology and marketing constantly changing it can be hugely advantageous to have access to the most up to date methods that have been tried and tested by someone else’s money rather than your own. All you need to do is to implement what you are taught one step at a time.
Having mentoring and coaching, in my opinion, is paramount to succeeding especially with an online business. In any business, entrepreneurship skills are crucial to becoming successful. Therefore you will need to learn the necessary skill sets required to become a successful.
Being mentored by another business entrepreneur can help to steer you on the right path to becoming a successful entrepreneur.
My name is Roy Derrick and I have over 20 years experience in running my own business. Over the years I have set up several successful businesses including a chain of retail stores and a construction company. My wife and I currently run a home based business that offers individuals easy ways to earn an extra income working from home.
This business, unlike my previous bricks and mortar businesses, provides us with the work/life balance that we have previously strived for, allowing us to spend valuable quality time with our children. I currently use my experience to find the most up to date and effective ways for other individuals to make money from home without them having to dig too deep into their pockets to find start up costs.