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Everything You Need To Know On Being A Successful Entrepreneur

Everything You Need To Know On Being A Successful Entrepreneur

The business world is a dynamic environment. Needs arise every day and with those needs comes an opportunity to meet them (and make a few bucks in the process). This desire to meet needs gives rise to a business idea. There are a lot of people out there with business ideas; all they need are the right tools and a strategy on how to go about the business. The combination of these two vital ingredients is what brings a business from paper to a full establishment. If you have a business idea in mind, but are confused about how to go about it (or where to even start from), pay attention; you’ll find these tips helpful.

1. Be passionate

This is very important in business development; a lot of businesses crash and burn due to lack of passion. In most cases, the passion only persists when the business is still new or when everything is going well and rosy.

6 months in, when the rigors of work and the realization of how much they have to do begins to dawn on them, the spark begins to fizzle out. It’s one case to have a passion for something, it’s entirely another case to maintain the passion for long.

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Being passionate means unconditionally loving what you do; it means being willing to sacrifice everything for that business regardless of the outcome or whether the business succeeds or not. If the passion for your job isn’t genuine, it’ll eventually show. Trust me. Perseverance is very vital in growing your business.

2. Be ready to learn

Teachability also won’t hurt. Being willing to learn covers a lot of aspects: having a mentor, being open to new business possibilities (especially if you’re involved in a one-man business), learning from mistakes, etc.

Mentoring is something I believe will be very advantageous. Having a mentor will provide a good foundation on which you can launch your business from. You can learn where they failed and work on how to avoid the traps they didn’t.

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3. Diversify

Like I said earlier, the business world is extremely dynamic. Trends may come, but they won’t last forever. Your business structure and operational model has to be framed in a way that it’s able to accommodate change so when a new trend arrives your business is able to adapt to it.

Monotony (which, in the long run, leads to predictability) is a really bad trait in a business and could cause your business to crumble very fast. Work on different ways to get the job done. It’s effective in that it gives you a world of options when considering a strategy to approach a problem.

4. Cultivate a good environment

“Environment” here is used not just to mean physical surroundings, but also your social atmosphere. The people you surround yourself with go a long way in determining how far you’ll eventually go.

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Having people around with a similar passion can be very helpful. They could bring new ideas and save you a world of stress by providing useful connections. Hire creative employees (if you must have employees in the first place) and monitor their work periodically. Whenever you single out any weak links, snuff them out quickly before their bad traits rub off on anyone else.

5. Be proactive

One of the qualities of a good entrepreneur is the ability to make fast decisions and act on them even faster. Understand that your job is your life and as such, there’s simply no time to dally. You can’t slack or procrastinate. Whenever you have an idea, act fast! Your idea might have occurred to a competitor and he absolutely must not beat you to the punch. The competition is stern and it’s survival of the fittest.

6. Build a respectable reputation

Your reputation is very important to your customer base. People talk. If you’re consistent and offer top notch services to your current customers they’ll advertise you to others and, as a result, your customers will surely increase. It’s one of the biological properties of business. You need to build a reputation that stands on the firm support of your existing customers. That’s a major way you grow your business.

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7. Set goals

Goals are also very important. They give your business a direction to follow. Without goals, you and your employees (if you have any) don’t look serious. Goals serve as a guideline for your business to follow and a yardstick to measure your business’ growth. Results serve as a means of comparing your business to others to see where you stand in relation to your competition and without pre-set goals your results and performances have little to no meaning.

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Rehan Hasan

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Last Updated on August 16, 2018

10 Huge Differences Between A Boss And A Leader

10 Huge Differences Between A Boss And A Leader

When you try to think of a leader at your place of work, you might think of your boss – you know, the supervisor in the tasteful office down the hall.

However, bosses are not the only leaders in the office, and not every boss has mastered the art of excellent leadership. Maybe the best leader you know is the co-worker sitting at the desk next to yours who is always willing to loan out her stapler and help you problem solve.

You see, a boss’ main priority is to efficiently cross items off of the corporate to-do list, while a true leader both completes tasks and works to empower and motivate the people he or she interacts with on a daily basis.

A leader is someone who works to improve things instead of focusing on the negatives. People acknowledge the authority of a boss, but people cherish a true leader.

Puzzled about what it takes to be a great leader? Let’s take a look at the difference between a boss and a leader, and why cultivating quality leadership skills is essential for people who really want to make a positive impact.

1. Leaders are compassionate human beings; bosses are cold.

It can be easy to equate professionalism with robot-like impersonal behavior. Many bosses stay holed up in their offices and barely ever interact with staff.

Even if your schedule is packed, you should always make time to reach out to the people around you. Remember that when you ask someone to share how they are feeling, you should be prepared to be vulnerable and open in your communication as well.

Does acting human at the office sound silly? It’s not.

A lack of compassion in the office leads to psychological turmoil, whereas positive connection leads to healthier staff.[1]

If people feel that you are being open, honest and compassionate with them, they will feel able to approach your office with what is on their minds, leading to a more productive and stress-free work environment.

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2. Leaders say “we”; bosses say “I”.

Practice developing a team-first mentality when thinking and speaking. In meetings, talk about trying to meet deadlines as a team instead of using accusatory “you” phrases. This makes it clear that you are a part of the team, too, and that you are willing to work hard and support your team members.

Let me explain:

A “we” mentality shifts the office dynamic from “trying to make the boss happy” to a spirit of teamwork, goal-setting, and accomplishment.

A “we” mentality allows for the accountability and community that is essential in the modern day workplace.

3. Leaders develop and invest in people; bosses use people.

Unfortunately, many office climates involve people using others to get what they want or to climb the corporate ladder. This is another example of the “me first” mentality that is so toxic in both office environments and personal relationships.

Instead of using others or focusing on your needs, think about how you can help other people grow.

Use your building blocks of compassion and team-mentality to stay attuned to the needs of others note the areas in which you can help them develop. A great leader wants to see his or her people flourish.

Make a list of ways you can invest in your team members to help them develop personally and professionally, and then take action!

4. Leaders respect people; bosses are fear-mongering.

Earning respect from everyone on your team will take time and commitment, but the rewards are worth every ounce of effort.

A boss who is a poor leader may try to control the office through fear and bully-like behavior. Employees who are petrified about their performance or who feel overwhelmed and stressed by unfair deadlines are probably working for a boss who uses a fear system instead of a respect system.

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What’s the bottom line?

Work to build respect among your team by treating everyone with fairness and kindness. Maintain a positive tone and stay reliable for those who approach you for help.

5. Leaders give credit where it’s due; bosses only take credits.

Looking for specific ways to gain respect from your colleagues and employees? There is no better place to start than with the simple act of giving credit where it is due.

Don’t be tempted to take credit for things you didn’t do, and always go above and beyond to generously acknowledge those who worked on a project and performed well.

You might be wondering how you can get started:

  • Begin by simply noticing which team member contributes what during your next project at work.
  • If possible, make mental notes. Remember that these notes should not be about ways in which team members are failing, but about ways in which they are excelling.
  • Depending on your leadership style, let people know how well they are doing either in private one-on-one meetings or in a group setting. Be honest and generous in your communication about a person’s performance.

6. Leaders see delegation as their best friend; bosses see it as an enemy.

If delegation is a leader’s best friend, then micromanagement is the enemy.

Delegation equates to trust and micromanagement equates to distrust. Nothing is more frustrating for an employee than feeling that his or her every movement is being critically observed.

Encourage trust in your office by delegating important tasks and acknowledging that your people are capable, smart individuals who can succeed!

Delegation is a great way to cash in on the positive benefits of a psychological phenomenon called a self-fulfilling prophecy. In a self-fulfilling prophecy, a person’s expectations of another person can cause the expectations to be fulfilled.[2]

In other words, if you truly believe that your team member can handle a project or task, he or she is more likely to deliver.

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Learn how to delegate in my other article:

How to Delegate Work (the Definitive Guide for Successful Leaders)

7. Leaders work hard; bosses let others do the work.

Delegation is not an excuse to get out of hard work. Instead of telling people to go accomplish the hardest work alone, make it clear that you are willing to pitch in and help with the hardest work of all when the need arises.

Here’s the deal:

Showing others that you work hard sets the tone for your whole team and will spur them on to greatness.

The next time you catch yourself telling someone to “go”, a.k.a accomplish a difficult task alone, change your phrasing to “let’s go”, showing that you are totally willing to help and support.

8. Leaders think long-term; bosses think short-term.

A leader who only utilizes short-term thinking is someone who cannot be prepared or organized for the future. Your colleagues or staff members need to know that they can trust you to have a handle on things not just this week, but next month or even next year.

Display your long-term thinking skills in group talks and meetings by sharing long-term hopes or concerns. Create plans for possible scenarios and be prepared for emergencies.

For example, if you know that you are losing someone on your team in a few months, be prepared to share a clear plan of how you and the remaining team members can best handle the change and workload until someone new is hired.

9. Leaders are like your colleagues; bosses are just bosses.

Another word for colleague is collaborator. Make sure your team knows that you are “one of them” and that you want to collaborate or work side by side.

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Not getting involved in the going ons of the office is a mistake because you will miss out on development and connection opportunities.

As our regular readers know, I love to remind people of the importance of building routines into each day. Create a routine that encourages you to leave your isolated office and collaborate with others. Spark healthy habits that benefit both you and your co-workers.

10. Leaders put people first; bosses put results first.

Bosses without crucial leadership training may focus on process and results instead of people. They may stick to a pre-set systems playbook even when employees voice new ideas or concerns.

Ignoring people’s opinions for the sake of company tradition like this is never truly beneficial to an organization.

Here’s what I mean by process over people:

Some organizations focus on proper structures or systems as their greatest assets instead of people. I believe that people lend real value to an organization, and that focusing on the development of people is a key ingredient for success in leadership.

Learning to be a leader is an ongoing adventure.

This list of differences makes it clear that, unlike an ordinary boss, a leader is able to be compassionate, inclusive, generous, and hard-working for the good of the team.

Instead of being a stereotypical scary or micromanaging-obsessed boss, a quality leader is able to establish an atmosphere of respect and collaboration.

Whether you are new to your work environment or a seasoned administrator, these leadership traits will help you get a jump start so that you can excel as a leader and positively impact the people around you.

For more inspiration and guidance, you can even start keeping tabs on some of the world’s top leadership experts. With an adventurous and positive attitude, anyone can learn good leadership.

Featured photo credit: Unsplash via unsplash.com

Reference

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