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What Makes A Successful Entrepreneur?

Apr 19, 2008
This maxim there are no short cuts to hard work is as true for any job at hand as it is with business and successful entrepreneurial ventures. In business, it is only hard work coupled with dedication of course, that brings the desired results.

A successful entrepreneur is a born leader who overwhelms others with his confidence, has the ability to keep goals in mind and a little common sense about how to achieve them.

When you see successful entrepreneurs around you or see news about them, probably the first thing that will come to your mind will be the level of education and capital that is required for a person to succeed in business.

Higher education is not a precondition for an entrepreneur to succeed in what he or she sets out to do. Richard Branson and Bill Gates did not study for higher education and left school at very young ages. They started their own businesses from home/garage, doing what they thought they enjoyed doing best - selling their ideas. In the present business environment, an idea or a service is as important a product as a commodity. It was the idea of emails that fetched millions to its originator.

Some of the most successful businessmen in the world started from a scratch. The first stage of a successful entrepreneur is that of an idea. Execution comes after the idea. Adequate capital is mandatory for the execution of the idea but at the same time many world-renowned successful entrepreneurs have started with shoestring budgets. A successful entrepreneur has every thing worked out in the head and all that remains is to execute it. For that a business plan and the support of a financial institution is mandatory.

Another element of a successful entrepreneur is effective market research that is required before the product or service is put up for sale. Whatever your idea, product or service, may be, proper marketing techniques and advertising strategies have to be adopted for an entrepreneur to succeed. For example, a sign of a successful entrepreneur is that he will get his/her innovation patented before giving any one else a chance to rob it.

In many cases watching others teaches a lot about how to become a successful entrepreneur. Alan Sugar provides a very good example of this in the TV Show - The Apprentice. As he sets an example himself he is in a position to demand from the people around him to be as hard working, dedicated, full of enthusiasm as he himself is. Successful enterprises may start with working alone for some time, but eventually you will be required to build up a team of associates whom you can trust and rely upon.

Doing your own business translates into your being your own master where you are able to do your job the way you like to without having to suffer the idiosyncrasies of whom you work for.
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