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15 Signs You Have What It Takes To Be A Real Successful Entrepreneur

15 Signs You Have What It Takes To Be A Real Successful Entrepreneur

Unemployment rates are diminishing and more jobs are available than there were in the past couple years, but it’s still one of the best times to become your own boss. If you’re thinking about opening your own business, go through this list and see if you have what it takes to become a successful entrepreneur.

1. You have a never-ending passion.

If you’re thinking about opening your own business, you obviously already have great passion. Whether you want to become a business consultant or open a bakery, you love what you do enough to want to do it for a living. Your passion means that you can not only work full time, but you can live and breathe whatever you choose to do without burning out.

2. You serve as a fountain of ideas.

Do you have one good idea for a business that keeps coming to mind? That’s not a bad start, but to be successful, it’s best if you have a nonstop flow of ideas. You need to be able to think up the basis for your business, a way to refresh your image after awhile, how to get your name out there and how to make sure what you’re doing is necessary for the community. The ideas should just keep coming to you, whether it happens naturally, while you’re sleeping or during a scheduled brainstorming session.

3. You’re not afraid to work really hard.

If you think owning your own business is fun, you’re wrong. It helps that you have the love and passion to make it fun, but it’s going to take a long time to get there. First you’re going to have to work really hard. You’re starting with nothing, building a business and a name for yourself. You not only have to think about your business name, identity, logo, storefront, products and website, but you also have to think about what you’ll charge to make a profit and the taxes you’ll have to pay. If you have what it takes to be a successful entrepreneur, none of that scares you because you’re willing to work really hard for what you want to achieve.

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4. You don’t like to give up.

You’ve made it this far, so you seem like you’re eager to stick with things. If you’re going to be a great business owner, you don’t like to give up, and it’s really hard to make you give up. You don’t get discouraged if there’s a lot to be done, or someone says something negative, or something doesn’t go the right way. In fact, obstacles like those make you work even harder!

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    5. You’re willing and able to learn from everyone.

    Entrepreneurs don’t ignore people who might not be in their field or have their best interests in mind. You have to be willing to listen to anyone, because you never know who might have good advice or inspire a great idea. You can’t write someone off because they don’t own a business or don’t seem successful, because you can learn lessons in the most random places.

    6. You’re a calculated risk-taker.

    Opening your own business is a huge risk in itself, but it’s just the first. You need to be ready to keep taking more risks in order to keep your business afloat. This means you have to be open to uncertainty, but also that you know what risks are worth it. You can’t put all your money into one venture and hope it succeeds and can fuel the rest of your business, because if it fails, you’re out. You can, however, put a great deal of money into something innovative to see if it works, because then you might be on the cutting edge of something new. If it fails, you’ll have lost some money and learned from the risk so you can appropriately further your business in the future.

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    7. You can see the big picture.

    When you’re excited to open your own business, it’s easy to stop looking at the big picture because you’re ready to get started, and you naively think you’re going to succeed immediately. Successful entrepreneurs don’t get caught up in the excitement, and instead can see the big picture. They know there will be hard times but don’t get discouraged because they know ups and downs are part of the big picture.

    8. You keep up with the times.

    Business owners have to be on the cutting edge of technology, the community they’re in, marketing and more. For example, anyone selling their wares remotely, like from a food truck or at a crafts fair, will have the ability to run a credit card through their smartphone. If you’re not up on this type of technology, you could lose a lot of business by only accepting cash if you’re working remotely. Successful entrepreneurs know what’s going on that will help them push their business even the tiniest bit farther.

    9. You’re not afraid to ask for help.

    Just like listening to advice from a variety of people, successful business owners aren’t afraid to ask for help. Just because you’re branching out on your own and being in charge doesn’t mean you have to do it all alone. Ask for help from your family or your employees if you need it, whether it’s physical help or just emotional support. Ask fellow business owners for advice if you need a push to stay positive. The more connected you are with those around you, the more help you’ll find.

    10. You’re able to complete things.

    Business owners have to step up and complete everything that’s on their plates. You can’t only do the easy tasks, or the ones that can be done quickly. If certain projects seem too daunting, divide them into smaller tasks that seem more manageable. Tackle your To Do list and make sure you complete all that needs to be done, or else your business will suffer.

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    11. You don’t procrastinate.

    When you’re your own boss, you can’t put things off. There’s no one higher up than you to take care of the important things, and no one below you to shove the boring tasks off on. You have to do it all yourself, and you have to be able to do it in a timely manner. The longer you put things off, the harder it is to do them; when you own your own business, this might make the difference between landing a major client and losing a job bid completely.

    12. You’re excited about what you do.

    Excitement is crucial when you’re your own boss, because you don’t have anyone else to motivate you. You need to keep yourself positive by constantly having a drive and desire to get up and work every day. As soon as your excitement starts to falter, your business will suffer because you’re not putting in enough love and effort to keep it afloat.

    13. You use your imagination.

    Business owners are innovative; they stay on top of their game and use their imaginations to brainstorm anything from business names and logos to marketing ideas and ways to reach out into the community and stay fresh. You can’t depend on hiring outside help to implement all of this – it’s your business, so you need to be the brains behind it! Your imagination runs nonstop and you never toss out an idea because it seems ridiculous; good entrepreneurs will give anything a try, because you never know what will work!

    14. You’re a social person.

    Being your own boss or working by yourself can seem like a lonely endeavor, but in reality you need to be a social person. Business owners have to network way more than people who are employees within a larger company. Entrepreneurs have to reach out into the community and see what is needed and what they can do to make their business important. They can’t just stay faceless behind a computer, they need to socialize with their customers and clients and have good people skills.

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    15. You like to give back.

    Entrepreneurs can’t be selfish and successful — you have to give back! So many small businesses donate a portion of their profits to charity these days that it really sticks out when they don’t. Giving back doesn’t have to be limited to financial giving, though. Entrepreneurs who volunteer or give motivational speeches at schools are also giving people, and don’t mind donating their time and knowledge to such appointments.

    Do you fit these characteristics? If so, get out there and make it work!

    Featured photo credit: the UMF via flickr.com

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    Last Updated on March 21, 2019

    11 Important Things to Remember When Changing Habits

    11 Important Things to Remember When Changing Habits

    Most gurus talk about habits in a way that doesn’t help you:

    You need to push yourself more. You can’t be lazy. You need to wake up at 5 am. You need more motivation. You can never fail…blah blah “insert more gibberish here.”

    But let me share with you the unconventional truths I found out:

    To build and change habits, you don’t need motivation or wake up at 5 am. Heck, you can fail multiple times, be lazy, have no motivation and still pull it off with ease.

    It’s quite simple and easy to do, especially with the following list I’m going to show to you. But remember, Jim Rohn used to say,

    “What is simple and easy to do is also simple and easy not to do.”

    The important things to remember when changing your habits are both simple and easy, just don’t think that they don’t make any difference because they do.

    In fact, they are the only things that make a difference.

    Let’s see what those small things are, shall we?

    1. Start Small

    The biggest mistake I see people doing with habits is by going big. You don’t go big…ever. You start small with your habits.

    Want to grow a book reading habit? Don’t start reading a book a day. Start with 10 pages a day.

    Want to become a writer? Don’t start writing 10,000 words a day. Start with 300 words.

    Want to lose weight? Don’t stop eating ice cream. Eat one less ball of it.

    Whatever it is, you need to start small. Starting big always leads to failure. It has to, because it’s not sustainable.

    Start small. How small? The amount needs to be in your comfort zone. So if you think that reading 20 pages of a book is a bit too much, start with 10 or 5.

    It needs to appear easy and be easy to do.

    Do less today to do more in a year.

    2. Stay Small

    There is a notion of Kaizen which means continuous improvement. They use this notion in habits where they tell you to start with reading 1 page of a book a day and then gradually increase the amount you do over time.

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    But the problem with this approach is the end line — where the “improvement” stops.

    If I go from reading 1 page of a book a day and gradually reach 75 and 100, when do I stop? When I reach 1 book a day? That is just absurd.

    When you start a habit, stay at it in the intensity you have decided. Don’t push yourself for more.

    I started reading 20 pages of a book a day. It’s been more than 2 years now and I’ve read 101 books in that period. There is no way I will increase the number in the future.

    Why?

    Because reading 40 to 50 books a year is enough.

    The same thing applies to every other habit out there.

    Pick a (small) number and stay at it.

    3. Bad Days Are 100 Percent Occurrence

    No matter how great you are, you will have bad days where you won’t do your habit. Period.

    There is no way of going around this. So it’s better to prepare yourself for when that happens instead of thinking that it won’t ever happen.

    What I do when I miss a day of my habit(s) is that I try to bounce back the next day while trying to do habits for both of those days.

    Example for that is if I read 20 pages of a book a day and I miss a day, the next day I will have to read 40 pages of a book. If I miss writing 500 words, the next day I need to write 1000.

    This is a really important point we will discuss later on rewards and punishments.

    This is how I prepare for the bad days when I skip my habit(s) and it’s a model you should take as well.

    4. Those Who Track It, Hack It

    When you track an activity, you can objectively tell what you did in the past days, weeks, months, and years. If you don’t track, you will for sure forget everything you did.

    There are many different ways you can track your activities today, from Habitica to a simple Excel sheet that I use, to even a Whatsapp Tracker.

    Peter Drucker said,

    “What you track is what you do.”

    So track it to do it — it really helps.

    But tracking is accompanied by one more easy activity — measuring.

    5. Measure Once, Do Twice

    Peter Drucker also said,

    “What you measure is what you improve.”

    So alongside my tracker, I have numbers with which I measure doses of daily activities:

    For reading, it’s 20 pages.
    For writing, it’s 500 words.
    For the gym, it’s 1 (I went) or 0 (didn’t go).
    For budgeting, it’s writing down the incomes and expenses.

    Tracking and measuring go hand in hand, they take less than 20 seconds a day but they create so much momentum that it’s unbelievable.

    6. All Days Make a Difference

    Will one day in the gym make you fit? It won’t.

    Will two? They won’t.

    Will three? They won’t.

    Which means that a single gym session won’t make you fit. But after 100 gym sessions, you will look and feel fit.

    What happened? Which one made you fit?

    The answer to this (Sorites paradox)[1] is that no single gym session made you fit, they all did.

    No single day makes a difference, but when combined, they all do. So trust the process and keep on going (small).

    7. They Are Never Fully Automated

    Gurus tell you that habits become automatic. And yes, some of them do, like showering a certain way of brushing your teeth.

    But some habits don’t become automatic, they become a lifestyle.

    What I mean by that is that you won’t automatically “wake up” in the gym and wonder how you got there.

    It will just become a part of your lifestyle.

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    The difference is that you do the first one automatically, without conscious thought, while the other is a part of how you live your life.

    It’s not automatic, but it’s a decision you don’t ponder on or think about — you simply do it.

    It will become easy at a certain point, but they will never become fully automated.

    8. What Got You Here Won’t Get You There

    Marshall Goldsmith has a great book with the same title to it. The phrase means that sometimes, you will need to ditch certain habits to make room for other ones which will bring you to the next step.

    Don’t be afraid to evolve your habits when you sense that they don’t bring you where you want to go.

    When I started reading, it was about reading business and tactic books. But two years into it, I switched to philosophy books which don’t teach me anything “applicable,” but instead teach me how to think.

    The most important ability of the 21st century is the ability to learn, unlearn, and relearn. The strongest tree is the willow tree – not because it has the strongest root or biggest trunk, but because it is flexible enough to endure and sustain anything.

    Be like a willow, adapting to the new ways of doing things.

    9. Set a Goal and Then Forget It

    The most successful of us know what they want to achieve, but they don’t focus on it.

    Sounds paradoxical? You’re right, it does. But here is the logic behind it.

    You need to have a goal of doing something – “I want to become a healthy individual” – and then, you need to reverse engineer how to get there with your habits- “I will go to the gym four times a week.”

    But once you have your goal, you need to “forget” about it and only focus on the process. Because you are working on the process of becoming healthy and it’s always in the making. You will only be as healthy as you take care of your body.

    So you have a goal which isn’t static but keeps on moving.

    If you went to the gym 150 times year and you hit your goal, what would you do then? You would stop going to the gym.

    This is why goal-oriented people experience yo-yo effect[2] and why process-oriented people don’t.

    The difference between process-oriented and goal-oriented people is that the first focus on daily actions while others only focus on the reward at the finish line.

    Set a goal but then forget about it and reap massive awards.

    10. Punish Yourself

    Last two sections are pure Pavlovian – you need to punish bad behavior and reward good behavior. You are the only person who decides what is good and what is bad for you, but when you do, you need to rigorously follow that.

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    I’ve told you in point #3 about bad days and how after one occurs, I do double the work on the next day. That is one of my forms of punishments.

    It’s the need to tell your brain that certain behaviors are unacceptable and that they lead to bad outcomes. That’s what punishments are for.

    You want to tell your brain that there are real consequences to missing your daily habits.[3]

    No favorite food to eat or favorite show to watch or going to the cinema for a new Marvel movie- none, zero, zilch.

    The brain will remember these bad feelings and will try to avoid the behaviors that led to them as much as possible.

    But don’t forget the other side of the same coin.

    11. Reward Yourself

    When you follow and execute on your plan, reward yourself. It’s how the brain knows that you did something good.

    Whenever I finish one of my habits for the day, I open my tracker (who am I kidding, I always keep it open on my desktop) and fill it with a number. As soon as I finish reading 20 pages of a book a day (or a bit more), I open the tracker and write the number down.

    The cell becomes green and gives me an instant boost of endorphin – a great success for the day. Then, it becomes all about not breaking the chain and having as many green fields as possible.

    After 100 days, I crunch some numbers and see how I did.

    If I have less than 10 cheat days, I reward myself with a great meal in a restaurant. You can create your own rewards and they can be daily, weekly, monthly or any arbitrary time table that you create.

    Primoz Bozic, a productivity coach, has gold, silver, and bronze medals as his reward system.[4]

    If you’re having problems creating a system which works for you, contact me via email and we can discuss specifics.

    In the End, It Matters

    What you do matters not only to you but to the people around you.

    When you increase the quality of your life, you indirectly increase the quality of life of people around you. And sometimes, that is all the “motivation” we need to start.

    And that’s the best quote for the end of this article:

    “Motivation gets you started, but habits keep you going.”

    Keep going.

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    More Resources to Help You Build Habits

    Featured photo credit: Anete Lūsiņa via unsplash.com

    Reference

    [1] Stanford Encyclopedia of Philosophy: Sorites paradox
    [2] Muscle Zone: What causes yo-yo effect and how to avoid it?
    [3] Growth Habits: 5 Missteps That Cause You To Quit Building A Habit
    [4] Primoz Bozic: The Lean Review: How to Plan Your 2019 in 20 Minutes

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