Entrepreneurial Keys to Success
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Each entrepreneur is an individual with his or her own character, personality, values, and experience. However there is a set of qualities that are highly common among successful entrepreneurs:

 

1.   Passion

 

There are two alternatives of being passionate:

1)    You can either be passionate about the actual work you are doing and find intrinsic motivation in the act of your work (a lot of artists enjoy this motivation)

2)    Or you can have an extrinsic motivator, such as a certain income level or the freedom of being your own boss and using the business you build as a means to an end.

Either way, being passionate will motivate you to sleep less, work more, and be excited. If you neither enjoy building the business you decide upon nor think that you will be able to reach your extrinsic motivators by building that business, you will quit at the first obstacle you will face.

 

2.   Resilience

 

During your attempts to succeed, you will most likely fail along the way. Not only once, but for some it feels like it happens constantly. Don’t let it discourage you, instead learn from each of your mistakes and try it again better next time. A commitment to consistency and persistence is a crucial quality to possess.

Always keep your goals and your final vision ahead of you. This is why a business plan is a valuable asset. We all have times in our lives when we face challenges and we have to overcome obstacles. A business plan is your guide you can always refer back to that will lead you to focus during these times. 

 

3.   Diligence

 

Whoever states that being a business owner is “easy money” is not telling the truth. If you want to build a business from ground up, it will take dedication and commitment and a lot of work, especially if you are going to build it during your off-hours (if you still have a job). Depending on your expertise and knowledge, you may even need to invest some time in learning first, during which you will not be generating any income for your efforts. It all depends on what your goals are.

 

4.   Integrity

 

It is possible and sometimes initially even easier to make money by taking advantage of people. However, first of all, you should always abide by your values and treat others as you would want them to treat you. Even if at this point you may not care about how you make your money, I think each of us has a turning point in our lives when we start making it one of our values to earn our money with honesty and integrity without intentionally or knowingly hurting other people. So I do not recommend for anyone to start a business that you may someday start doubting in its integrity and ethics, because the decision to quit a business that generates your primary income but lacks in integrity can be very difficult to make, so don’t even put yourself in that position.

 

5.   Relationships

 

Associate with like-minded business people who have a focus. One of the easiest mistakes to make is to surround yourself with the “wrong” people. People who do not have any aspirations in life and are satisfied with mediocre may eventually become jealous of your vision and your success and try to slow down or reverse your progress. Don’t switch your entire circle of friends, but choose to balance your life to communicate with people whom you can learn something from and who will encourage you to keep working towards your goal.

Once you find like-minded people, build friendships and relationship and nourish them by offering something, such as a talent, skill, your time – something that will benefit them as well and in return you will receive help and encouragement, coaching and mentoring, which can help you tremendously in your business growth and development.

 

6.   Patience

 

Yes, we would all like to get a check after our first week of effort, but that is most of the time not the reality. Sure, you can join an affiliate program and promote somebody else’s products to earn a commission relatively quickly even if you don’t have a product or service yourself. However, you have to have someone to share the product with – an audience, which usually takes a bit of time to develop.

 

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