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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

Entrepreneur

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Last Updated on June 13, 2019

15 Best Entrepreneurs Books to Start Reading Now to Be Successful

15 Best Entrepreneurs Books to Start Reading Now to Be Successful

Knowledge is power, and you’re going to need a lot of it if you’re going to be able to steer your business to success.

Without further ado, let’s take a look at the 15 best entrepreneurs books to get inspirations about success and grow your business.

1. Think and Grow Rich by Napoleon Hill

    This book has been dubbed the Granddaddy of All Motivational Literature, and it was actually the first book that gave a prescription of what it takes to be a winner.

    Napoleon Hill draws from the stories of millionaires like Henry Ford, Andrew Carnegie, and Thomas Edison to illustrate the principles he put forth.

    Get the book here!

    2. The Lean Startup by Eric Reis

      A lot of startups end up failing, but many of these failures are actually avoidable. The Lean Startup provides a different approach that is now being adopted all over the world and changing the way that companies are developed and products are being launched.

      In The Lean Startup, Eric Reis describes what is required for a company to penetrate the fog of uncertainty in order to discover a path to a sustainable and successful business.

      Get the book here!

      3. The E-Myth Revisited by Michael E. Gerber

        In a revised edition of the 150,000-copy bestseller, The E-Myth, Michael Gerber refutes some of the myths that surround starting your own business and shows just how commonplace assumptions can end up getting in the way of being able to run a successful business.

        Gerber succeeds in walking the reader through the steps that occur in the life of a business, from infancy, through the pains of growing as an adolescent, to the perspective of the mature entrepreneur.

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        Get the book here!

        4. Rework by Jason Fried

          Most of the business books that you get today will give you the same advice: draft a business plan, study the competition, look for investors, and all that.

          However, Rework shows you a more effective, easier and faster means of succeeding when running a business. By reading it, you’ll be able to know why some plans are harmful, why you don’t really need to get investors, and why you’re better of shutting out your competition.

          Get the book here!

          5. How to Win Friends and Influence People by Dale Carnegie

            This is one of the most successful motivational books in history, selling well over 15 million copies since it was released in 1936. The book is timeless, and it appeals to businesses, self-help startups, and general readers.

            Carnegie believes that a lot of successes come from an ability to communicate rather than having brilliant insights. In his book, he teaches how to value others and make them feel appreciated and loved.

            Get the book here!

            6. Outliers: The Story of Success by Malcolm Gladwell

              Through this amazing book, Malcolm Gladwell is able to take the reader on an intellectual journey through the world of ‘outliers’. He asks the question of what truly differentiates high-achievers.

              His answer to this question is that we tend to pay too much attention to what successful people are like, and less attention to where they are actually from.

              Get the book here!

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              7. Rich Dad, Poor Dad by Robert T. Kiyosaki

                This is the best personal finance book ever written. It tells the story of Kiyosaki and his two fathers; his real father, and that of his best friend (his rich dad), as well as how the two men helped him shape his opinions on money and investing.

                It refutes the myth that you need to earn high to become rich, and it distinguishes between working for money and having money work for you.

                Get the book here!

                8. The Ascent of Money: The Financial History of the World by Niall Ferguson

                  Niall Ferguson, in this book, follows the money to tell the story behind the evolution of the word’s financial system, from the beginning way back in ancient Mesopotamia to the latest occurrences in what he had dubbed Planet Finance.

                  Fergusson also reveals financial history as the backstory behind our very own history, with an argument that the evolution of debt and credit is as significant as the history of technological innovation and the rise of civilization.

                  Get the book here!

                  9. Liar’s Poker by Michael Lewis

                    Michael Lewis landed a job at Salomon Brothers after getting out of the London School of Economics and Princeton within three years, he had risen to the rank of bond salesman, making millions for the firm and cashing out steadily.

                    Liar’s Poker is the amalgamation of these years — a look behind the scenes at one of the most turbulent times in American business. His book is Lewis’s account of an era where greed and gluttony were the order of the day.

                    Get the book here!

                    10. Drive: The Surprising Truth about What Motivates Us by Michael H. Pink

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                      A lot of people see money as the best motivator. Michael pink says it’s a mistake.

                      In this provocative book, he asserts that the secret to high performance anywhere is the need to direct our lives, to learn and create, and to do better by our world and ourselves.

                      Get the book here!

                      11. Getting Things Done: The Art of Stress-Free Productivity by David Allen

                        Outdated methods don’t work in today’s world. In this book, Allen shares some awesome methods for stress-free performance that he has shared with thousands of people all over the world.

                        His premise? That productivity is proportional to your ability to relax.

                        Get the book here!

                        12. The 7 Habits of Highly Effective People by Stephen R. Covey

                          In this book, Stephen Covey presents a holistic approach for overcoming both professional and personal issues. With insights and anecdotes, Covey presents a way to live with integrity fairness, service and dignity.

                          Get the book here!

                          13. The 4-Hour Workweek: Escape the 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss

                            In this book, Ferriss dishes on the tips he has learned from studying the New Rich, a subculture of people who did away with the deferred life plan and mastered time and mobility to developed luxury lifestyles for themselves.

                            If you’re looking to make your way in this revolutionary new world, this here is your compass.

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                            Get the book here!

                            14. Delivering Happiness: A Path to Profits, Passion, and Purpose by Tony Hsieh

                              The CEO of Zappos shows how a unique kind of corporate identity can help deliver a huge difference in the way results are being achieved — by creating a company that values and delivers happiness.

                              Get the book here!

                              15. Losing My Virginity: How I Survived, Had Fun, and Made a Fortune Doing Business My Way by Richard Branson

                                From Virgin Atlantic Airways, Virgin Records and V2 to Virgin Cola, Virgin Megastores and a wide array of other companies, Richard Branson is the rockstar billionaire that a lot of us want to be.

                                Branson, however, did business by following a simple philosophy:

                                “Oh, screw it, let’s do it”

                                Losing My Virginity is an unusual, borderline outrageous autobiography of one of the greatest business geniuses in the world. Branson and his friends named their business “Virgin” because that was what they were — virgins at the game.

                                Since then, he’s written his success rules, creating a global business that has no headquarters, no management structure no corporate identity as it were.

                                Get the book here!

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                                Featured photo credit: rawpixel via unsplash.com

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