What is a Successful Entrepreneur
In 30 steps to a more successful entrepreneur
Everyone wants to be more successful, this applies to both die-hard professionals and new entrepreneurs.
When you own your own business, you feel free and invincible. You can build something of your own and at some point reap the fruits of your hard work.
Entrepreneurs make decisions, implement their vision, and maintain long-lasting relationships with other entrepreneurs, customers, and sellers.
It's a great feeling, that's why I've founded so many companies myself. I just can't get enough of it.
In this article I want to show you how you too can be successful.
1. Show determination
An entrepreneur must have perseverance. He has to be determined because that is the attitude that is expected of him. Determination pushes you forward, even when everyone says you should give up.
If you want to be a successful company, you have to be determined.
Honesty without hard work and determination won't get you very far.
2. Looking for new challenges
If you want to be a successful company, you always have to look for a challenge. You have no one to drive you on, so you have to do it yourself.
Constantly new challenges ensure more flexibility. If you are on the lookout for new challenges, you will be prepared for any eventuality.
Here is an example:
You signed up for the gym because you want to get stronger. You start with the 5 kg dumbbell. It is quite difficult at the beginning, but over time you get used to the weight because you get stronger.
Are you stopping now? No!
Now you can switch to the 7 kg dumbbell. When you get used to this weight, even the 5 kg dumbbell is a flyweight.
If you keep looking for new challenges, your other tasks will appear much easier over time, just like in our example above.
As an entrepreneur, you are constantly looking for the next challenge.
3. Be passionate
If you don't love what you do, you should find another job. I am really convinced of that.
Entrepreneurs have to work a lot of overtime and give up a lot for their business.
If you love your job, you don't mind all the overtime.
However, if you don't love her, you won't have the motivation to deal with all the stress and work.
Have you ever noticed that entrepreneurs never seem to be tired? These people always have that twinkle in their eyes when they talk about their work.
This is real passion!
44 percent of all entrepreneurs start a company because they want to create something extraordinary. They love their job. You also?
With passion, life as an entrepreneur is much more pleasant.
4. Take risks
We humans avoid risk, but every now and then entrepreneurs have to take a risk.
Successful entrepreneurs do not shy away from taking risks, because they are part of it.
They also know which risks they can and cannot take. You have to calculate your risk and only take those that will ultimately benefit your company.
The new opportunities are often worth the risk in the end.
You have to learn how to skillfully assess situations in order to only take the risks that will take you a step further.
5. Trust yourself
If you don't believe in yourself, who will?
Successful entrepreneurs listen to their gut instinct and knowledge in order to make important decisions.
You have to have self-confidence and trust in your own abilities, then other people will perceive you as a leader.
If you trust in your abilities, that also takes away your fear of uncertainty to some extent.
If you have doubts about yourself again, you can think back to your knowledge and experiences and draw new strength from them. Many entrepreneurs work for another company for years before taking the big step and starting their own business.
You can find a mentor and ask for advice from time to time, but you should learn to trust your own judgment.
Trust in your own abilities, then you are on the way to success.
6. Combat fears
Fears prevent us from acting. Entrepreneurs need to be flexible and be able to make quick decisions if the situation so requires.
If you have fear all the time, you cannot become a successful entrepreneur.
Don't let your fear guide you, listen to your gut instinct and don't be afraid of well-calculated risks. Do not let your feelings cloud you.
You have to get your fears under control to be a successful entrepreneur.
It's always a matter of illustration.
Research has shown that people who see a lot of brutal violence on TV are also more afraid. Just look at things from a different perspective.
There are a few exercises you can do to increase your confidence.
I always take a few minutes in the evening and think again about the decisions of the day.
Recall all your decisions that have had a positive impact on you, others or your company to build your self-confidence and fight your fears.
7. Visualize goals
This advice is not as complicated as it may seem right now.
When I tell entrepreneurs to visualize their goals, I don't mean to close their eyes and visualize their goals.
I want you to have a clearly defined and achievable goal in mind.
Which of the following goals do you think is better formulated?
- I want to become a successful entrepreneur.
- I want to be successful by finding a good solution to a very specific problem in this sub-sector.
The second, right?
If you formulate your goal very clearly, it no longer seems so unreachable.
There are many strategies for better defining goals and adding a bit of structure to the goal setting. You can write down or sketch your goals.
You can talk to a friend, partner, or family about it, and even take photos. Whatever suits you more.
If you ask a successful entrepreneur about his goals, he will always tell you in the smallest detail what he had in mind when he founded his company.
8. Find a great business partner
I admit it. This point is almost too obvious.
A successful entrepreneur is usually not alone. He almost always has a great team and a network to support him.
When I tell you that you have to find a great business partner, I don't mean that you should hire someone to do the job.
You have to find someone who has a great character, someone you respect.
When you work with a partner, you can significantly increase your chances of success.
You and your business partner will have to work a lot of overtime and make stressful decisions, so you need someone with whom you can work well, otherwise your company is doomed to fail.
Your team members must have the right attitude and a good character, then you are sure to be on the way to success.
Always remember, skills can be acquired, a good character is innate.
9. You have to act
Talk less, tackle more!
Successful entrepreneurs act.
You can quickly get lost in all the planning, discussions and long meetings with board members, but if you just keep talking, you won't get baked.
Enough talked! At some point you have to lend a hand to move things forward.
10. Invest time
Do you believe in overnight success? Better to think about it again.
Companies that seem to become a sensation overnight have always fought very hard and long for their success.
Think carefully about how many hours, days and years you have already invested in making your company a success.
How often have you faced the end, what have you learned from all your mistakes and what is your life like?
Successful entrepreneurs put a lot of time into preparation and many of them have failed before.
If you are of the opinion that success is too long in coming, you should pause for a moment.
You have to persevere and always work hard, then success will soon be within reach.
Think of all the hard work and the good feeling you will have when it all finally pays off. You should keep this image in mind whenever you have to work overtime again.
11. Financial planning
Startups always need money. That is just part of it.
Many entrepreneurs spend so much time looking for new investors that they can't do anything else. But you mustn't rush into the action headlong.
Many entrepreneurs invest their own hard earned money. It's risky. In this case, you need a good plan to minimize your risk.
You need to plan your finances well and then stick to this plan if possible, but of course this plan can be adjusted from time to time over time.
12. Who is your customer?
Many entrepreneurs fail because they simply cannot find customers.
If you are developing a product and do not even know who should ultimately buy this product, then there is a high probability that this customer will not even exist.
You need to evaluate the market potential and demand for your product before engaging in financial planning, capital raising, and branding.
There is no company without customers.
Successful entrepreneurs know their target group.
13. Address customer complaints
This point is one of the most important and should be internalized by every entrepreneur.
You can identify your company's weaknesses by paying attention to your customers' complaints.
As I said before, you cannot run a successful business without customers. But here's something to think about.
Maybe you have enough interested customers. However, if you do not address their complaints and wishes, they will soon be gone.
You have to take your customers seriously and you should always address their complaints immediately.
You might think you're adding great value to your customers, but they might disagree.
Your customers know exactly what they want and many of them tell you directly to your face too.
The wise entrepreneur takes this feedback to heart and uses the information obtained to compensate for the weaknesses of his company.
14. Exceeding expectations
If you exceed all expectations, you can satisfy your customers, investors and business partners.
If you make promises that you can't keep in the end, it can ruin your business.
Successful entrepreneurs always exceed all expectations.
15. Calculate risks
I said you have to take risks, but of course you can't take every risk right away.
You have to calculate every risk.
You have to learn to recognize the risks that can benefit you and to assess when you should keep your hands off them.
If you are not the stereotype of the typical entrepreneur, you need to find out how you can better adapt to your surroundings in order to minimize your risk of not always being overlooked when making important decisions.
You need to learn to identify the right risks, but you also need to know when to take those risks.
You also have to know when the right time has come.
Certain risks can easily be tackled at the beginning of your career, but not later when the company is already well established.
You always have to carefully weigh these situations and take all risks in a calculated manner.
You have to learn to deal with your risks, then you can be successful.
16. Read and study case studies
Companies are always stuck in work and have to take care of their business non-stop. When you come home and can finally enjoy a bit of free time, you quickly pick up the novel or sit comfortably in front of the TV.
You'd better read a few case studies, however. Instead, use the biographies of successful entrepreneurs. You have to read everything you can get your hands on.
You can always learn something new from successful people who faced the same challenges a long time ago.
You can also learn from the mistakes of others, because then you don't have to make these mistakes yourself.
And if you make a mistake, you can learn from it.
The more you learn from your own mistakes and failures, the faster you can grow your business.
17. Self Promotion
Many people shy away from self-promotion and don't like talking about their company because they don't want to sound arrogant.
But if you don't advertise your company, who should do it?
Arrogance and self-promotion are two very different things.
You should know your company inside and out, internalize important statistics and prepare a short elevator pitch so that you always have it to hand in the event of an emergency. If someone shows interest in your company, you can answer all their questions quickly and skillfully.
You should also know what your customers are saying about you. If someone asks about the current status of your company, you can simply share the feedback from your customers without appearing arrogant.
But you shouldn't talk everything nicely, you should be honest.
18. Promote the corporate culture
In the past, corporate culture was not that important, but thanks to social media and 24-hour monitoring on the Internet, companies and employees are under constant surveillance.
Your actions, beliefs and morals set the tone for your company and your corporate culture. Just think about Uber.
You have to set a good example because that creates a good atmosphere in the team. If you enjoy working with people, you can draw the necessary motivation from it and win great customers in this way.
Many entrepreneurs work from home, with family members, or even with a team based in completely different countries, that's why corporate culture is so important.
19. Contacts, contacts, contacts
There's nothing like the right contacts. Now it is out. Networking is important. Your company stands and falls with your personal network.
You should always work on building your personal contacts because you never know when and where you will find the next big lead.
If you continuously expand your network, you will soon meet other entrepreneurs who in turn have further contacts and maybe also have one or the other idea ready.
Perhaps you will meet someone over a beer at the airport or in the hotel elevator who will soon turn out to be a new business partner. You never know who is sitting next to you on the bus.
You should always take the chance to meet new people and have a short chat. Maybe your company will benefit from it.
20. Learn and create
Successful entrepreneurs have a very specific attitude. They absorb new information, learn from it and create something new.
This is of course exhausting, but without this attitude you will not achieve your goal.
Stay away from television, social media, and movies. These distractions can be demotivating because they overwhelm you with useless information.
You can enjoy distractions in moderation, but these particular activities are a waste of time. Entrepreneurs have to make certain sacrifices and restricting certain leisure activities is part of it if you want to be successful.
Instead, you can just refer to an interesting case study or do a little meditation. You should opt for more constructive and healthier distractions that are good for your mind and body.
Watching television is fun, but not really relaxing.
Successful entrepreneurs find relaxing activities that clear their heads and replenish their reserves of strength.
21. Don't sell, deliver!
Nobody likes pushy salespeople. Seriously, who likes to go to such a pushy car salesman when they want to buy a new car? We try to avoid these situations by all means because we can't stand them.
You can't talk your customers into anything, you have to offer them something. How about a free trial? In this way you can convince them of your great product.
Research has shown that free product samples or trial periods are three times as effective as tough sales strategies.
If you deliver a convincing product to your customer, you can bind them to you faster and you will also become a successful entrepreneur faster.
22. Baby steps
The path to becoming a successful business can be daunting. But that's okay. Building a business is not an easy endeavor.
I have a foolproof strategy for you: small steps.
Any problem, however insurmountable it may seem, can be broken down into small baby steps.
Once you have broken down the problem into smaller steps, you can take care of one task at a time and before you know it you will be halfway there.
Mountains can be climbed with determination and perseverance. With baby steps to a successful entrepreneur.
23. Put everything in a calendar
I am serious. You should everything in your calendar.
Do you think there is something that shouldn't be on the calendar? Then you are wrong.
Important meetings, time for quiet working hours, free time with friends, happy hour with business partners, the next children's soccer game, fitness studio, meals, everything has to go in!
If you write down all your obligations in minute detail, you can plan your tasks better because you always know exactly when you have time and when you don't.
Then the next meeting is not planned exactly when you actually wanted to go to the gym. Physical activity is particularly important for entrepreneurs, more on that later.
When everything is entered in the calendar, there are no more excuses.
I would like to point out one thing in particular: the time for quiet working hours. This is the period in which you can solve problems, get things done, and get creative without being constantly interrupted.
Everyone needs a little rest. Entrepreneurs need to put special emphasis on quiet hours to get things done because the success of their business depends on it.
24. Exercise and sport
Did you know that sitting in the office for a long time is not good for your health? It is true.
It's not just about running a profitable company, because if you destroy yourself in the process, you won't be able to enjoy your success at all.
You have to take care of yourself as well as your business. One way of doing this, which I warmly recommend to you, is exercise.
You should make space in your calendar so that you can get out of the office to do a bit of physical activity.
Maybe a little yoga, take the stairs more often or go to the gym.
You have to set fixed times every week (if possible every day) to do sports and take care of your health.
A sick entrepreneur cannot be successful either.
The life of an entrepreneur can be stressful and confusing, but you should keep multitasking to a minimum.
Numerous research has shown that multitasking doesn't work. We humans are simply not designed for this.
This also includes distractions from phone calls or emails. Shut up and turn off!
You have to learn to focus on the task at hand. You have to give this task your full attention in order to be able to do it well and conscientiously.
If you have too many tasks on your to-do list, it can be counterproductive, as you get distracted too quickly.
You have to learn to complete the tasks in front of you in the specified period of time.
You can write down three tasks each night before you go to bed, which you then have to do the following day. You should set yourself a fixed goal each month that you can work towards for the next 30 days.
With this strategy you can increase your ability to concentrate and run your company better.
26. Treat yourself to a break from time to time
This step is obviously difficult for even most successful entrepreneurs.
Every now and then you have to treat yourself to a real break, because we just can't calm down.
Such a break may not be necessary every day or every week, but it will come due at some point. If you only work all the time, you will soon be burned out. It’s quick.
Taking a break is a real challenge for most entrepreneurs because they often feel that they are particularly strong and want to show this invincibility to the outside world.
But everyone needs a break from time to time.
If you allow yourself a little time for yourself, your brain can think, rest and gain new strength. Have you ever asked yourself why the best ideas always come to you while you shower? Because in the shower you can really think about it and let go at the same time.
Even the most successful entrepreneurs don't work around the clock. Everyone needs a break from time to time and you don't have to be ashamed of yourself, we're all human.
Give your employees enough advance notice and tell them why this time out is important to you.
If you are looking for an open conversation with an employee, they will learn to respect your time and recognize that you need peace and quiet.
By the way, you have to give your employees a well-deserved break from time to time. Everyone needs a break from time to time.
So take a break in good time and learn to understand that time off is important in order to stay healthy, be creative and be successful.
Do you find it so difficult sometimes?
27. Asking questions
You can't know everything Nobody can.
You can also ask for help and advice. When you ask questions, you can learn new things.
The more information you have, the better decisions you can make and the easier it is for you to run your business.
By asking questions you can always stay open to new things and learn something new more often.
Successful entrepreneurs like to ask questions and are open to new experiences.
You could fail.
I said yes.
You'd better get used to this idea right now. Everyone fails at times.
Failure is simply part of it and every entrepreneur has struggled with it at some point. So get used to it.
29. Find new inspiration
Entrepreneurs need to be creative. You have to make contacts, solve problems and develop products that no one has ever thought of before.
Of course, you need inspiration for that.
Successful entrepreneurs take time to do inspiring things.
Maybe it's visiting an art museum, reading a good book, or drawing. Whatever it is, takes the time for it. Your company benefits.
Successful entrepreneurs are always motivated. Don't get lost too much in the dull working day. At the latest when you feel the first signs of burnout, you have to shift down a gear and get new inspiration.
Inspiration leads to new ideas and ideas make a successful entrepreneur.
30. Help others
Entrepreneurs are always busy, so this advice seems a bit contradicting at first. Now you might be thinking: “I don't have time anyway! Now should I help others too? "
But if you help other people, you can draw new strength yourself from it.
Doesn't that feel good? As an entrepreneur, you have enough contacts who would benefit from your knowledge and can hire people to help you with your work, so why not take the time to help others?
If you help other people, they may return a favor. Maybe not today or tomorrow, but later, exactly when you need it most.
In this way you can build up a strong network of loyal contacts.
Successful entrepreneurs like to help other people out.
Success will certainly not come overnight. It's a common myth.
You have to develop a long-term strategy and get closer and closer to your goal in small steps if you want to build a successful company.
You can do it, but only if you make friends with the idea that your business could fail too.
You have to be able to accept help. Building a company cannot be managed on its own.
Building a successful company is not child's play, but with good planning and my tips, it gets a little easier.
The most difficult thing is always to take a well-deserved break and respond to customer complaints. These things are often underestimated and forgotten, but are particularly important.
What makes you a successful entrepreneur?
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