An entrepreneur’s biggest concern is probably how to make his or her company a success. There are some fundamentals that every startup needs to possess in order to survive: a good business model, a great product, a viable market and a flexible plan.
But to exceed the path of many would be entrepreneurs where nine out of every 10 startups go out of business, it takes more than the basics for a new company to stay afloat.
Take a look at these ways to beat the odds .. profitably:
- Be Slightly Delusional and Crazy Passionate
- Be a learning and humble leader. You don’t levitate nor are you a know it all. You need your people.
- Build trust.
- Social skills matter. Network and then network again.
- Master time.
- Execution is what matters.
- Keep the end in mind.
Expect supporters to flee when your persistence extends beyond their comfort zone. “When everything seems to be going against you, remember that the airplane takes Now, bear in mind that it is possible for entrepreneurs t not recognize the warning signs of bad timing. Sometimes you also need t know when to stop. off against the wind, not with it.
Pay no attention to the Naysayers
Fear of judgement is one of the great fears of the human existence. All entrepreneurs have been judged by the naysayers and the critics at some point in their journey. Often these people judge you because your success can highlight their failures and so in turn, they want to see you fail. Understand that this is the dark side of humanity and that it’s normal. You can’t be in control of this you just have to be in control of what you do.
Even if you’re onto your third failed startup you should keep going as long as the desire is still there. The average millionaire has gone through eleven different failures, so if you really want it and it’s in your blood, you should go for it! The only real question though is how long do you keep going on the same venture until you move onto the next one? Only you will know when the time is right but don’t quit too early because a lot of entrepreneurs quit just before they are about to hit momentum and then they never get the reward.
Once you’re an entrepreneur there is no going back. For you to go from being an entrepreneur, back to a day job, would be like prison on earth, so keep persisting.
via Addicted 2 Success.
Jim Woods is a partner with the Business Coaching Group and President of the Jim Woods Consulting Group. He has 30 years experience in helping organizations improve the quality of their leadership, build competitive advantage and engage their employees.
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