Monday 8 April 2013

What Successful Entrepreneurs Do Differently


Being an entrepreneur is now common. Once you are in business, you are assumed to be an entrepreneur. But what really separates a successful entrepreneur from others? From the experiences of various successful CEOs, Robert Scoble identified in an interview what gave them an edge over others, you can observe a trend, and a model which you can adopt to become successful too.

Below is a list of some of the things successful entrepreneurs do differently:

They develop the Capacity to act on their Visions: 
True visions are too big and scary for ordinary entrepreneurs to achieve. Almost every CEO has a vision of what they really want, but very few can act on that vision. Vision by itself can accomplish nothing until it is acted upon. Successful entrepreneurs consciously develop the determination and courage to make their dreams a reality. While many CEOs have visions, successful ones take actions on theirs.  

They create a System: 
Imagine working for Apple or Google, these two companies have some unique system that stand them out from other companies. It is so strong that you don't need to work with them to know it. You cannot successfully build a business that does not have a unique "lifestyle" that every stakeholder recognizes.System creates structure in any business, and it lives even when every employee is gone, including you. Don't just run or manage a business, create a system. 

They Listen and Act: 
One of the qualities of a good leader, is the ability to listen. Entrepreneurs are leaders who point to the direction of solution. Good CEOs are never satisfied with what they want to tell their customers, they also want to listen, and take action on the feedback provided by their customers.Don't be good at telling customers about your product or business goals, allow them have their say also. 

They are resilient: 
If you want to be successful in your business, quitting should never be an option. While it may be easy to start up a business, remaining in the business through the ups and downs is what makes it thick. Entrepreneurs remain steadfast in any task the undertake, they have learn to look beyond the past crisis, and continue into the future. Successful entrepreneurs are those that simply refused to give up. 

They refused to be distracted: 
It is very easy to lose focus when your business is running but one thing I have seen great CEOS do is to remain focused on their goals. They don't allow success take them away from other things they hope to achieve, neither will they allow disappointment to redirect their efforts. 

They can communicate their plans: 
Nobody is in a better position to communicate the objectives of a business than its CEO. Good entrepreneurs know how to communicate to consumers, employees, and other stakeholders about the product or services, business strategies and future ambitions. 

They spend time learning about consumer: 
Consumers demography changes, so is their needs. CEOs who know this spend more time studying about how to keep up with the trend as consumers change.

Business is about innovation, uniqueness, and doing things differently, not about having an establishment. There are so many things you can do differently about your business to achieve your goals.

Thursday 28 March 2013

Business Quotes on Diligence and Opportunities

Perseverance is failing 19 times and succeeding the 20th. 
J Andrew


Most of us never recognize opportunity until it goes to work in our competitor’s business.
P.L. Andarr
 
 
When one door closes another door opens; but we often look so long and so regretfully upon the closed door that we do not see the ones which open for us.
Alexander Graham Bell 
 
 
A wise man will make more opportunities than he finds.
Francis Bacon
 
 
Four things come not back-the spoken word, the sped arrow, the past life, and the neglected opportunity.
Arabian Proverb 
 
 
There is nothing in the world really beneficial that does not lie within the reach of an informed understanding and a well-protected pursuit.
 Edmund Burke
 
 
This is no time for ease and comfort. It is the time to dare and endure.
Winston Churchill
 
 
 The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools.
Confucius 
 
 
A determination to succeed is the only way to succeed that I know anything about.
William Feather
 
 
 
 
 

Between Being a Manager and an Entrepreneur

Entrepreneurial ventures has been considered as a means to build successful free market economics. It has been considered as a tool for economic development and growth, job creation and business successes.

However, not every entrepreneurial venture is successful. It all comes down to who is managing it. In the business world, there are two types of people you meet, the managers and the entrepreneurs. They may look the same, but they are separated by what they value most.

According to research, entrepreneurs pay greater attention to honesty, ambition, capability, independence, courage, imagination, and logic than managers. These characteristics drive entrepreneurs as well as their businesses to success. Whereas for managers, they tend to consider being loving, forgiving, helpful, and self controlled as more important.

Whether you are managing your own business or working for someone, paying attention, greater attention to what entrepreneurs value most will give you an edge.

Monday 25 March 2013

Nine Effective Strategies for Success

Heidi Grant Halvorson identified nine most effective strategies in her article The Most Effective Strategies

In order of effect magnitude, the most impactful strategies are:
  1. Be Persistent no matter the situation
  2. Know exactly where you are, how far you have gone and what is remaining
  3. You should know exactly what you want. Define what success means to you.
  4. Seize the Moment to Act on Your Goals — Know in advance what you will do, and when and where you will do it
  5. Focus on What You Will Do, Not What You Won't Do — Instead of focusing on bad habits, it's more effective to replace them with better ones.
  6. Build your Willpower Muscle — If you don't have enough willpower, you can get more using it.
  7. Focus on Getting Better, Rather than Being Good — Think about your goals as opportunities to improve, rather than to prove yourself
  8. Be a Realistic Optimist — Visualize how you will make success happen by overcoming obstacles
  9. Don't Tempt Fate — No one has willpower all the time, so don't push your luck
 Can you tell what your most effective strategies for success are?