Entrepreneur, be it is a small MSME business or a million-dollar turnover company, today this word is the fanciest and buzzing word in all the industries and everyone wants to become a one.
Being an entrepreneur is not easy at all. People say in the current world “Entrepreneurship “is booming and the future is all about that. Is that so? Can everyone be an entrepreneur? It is a skill for sure. For some it comes naturally, others out there strive hard to learn it. Of course, the skills can be honed.
A company becomes successful when they deliver customer-focused solutions. Initial stages of entrepreneur life are tough. Once the company grows with good leadership skills, incorporating market strategies, understanding the need of the clients, using enterprise design thinking to get solutions for the problems and updating the products are the necessary aspects. Being a continuous learner and honing the business skills takes the person and the business to next level for sure.
Also, being accountable for the mistakes you make and taking complete responsibility for that, and working on the action plans to avoid in the future is a behaviour trait that entrepreneurs have to poses. Mark Zuckerberg Poses these qualities as a successful entrepreneur. He once said in an interview “I am Sorry and I am responsible for it” for all the fake news and other loopholes on Facebook.
If the company fails for reasons unknown though they have a decent success graph, it is ideal to analyse as where they have gone wrong and plan up remedial actions. It is always ideal to bounce back with more strength and courage after failure. There should be no room for ego and other stuffs as there is nothing to lose. Success is relative in both scenarios the one failing and bouncing back and the other who tried to realize his dreams.
If an entrepreneur had learned everything, grown and risen above the challenges, can’t they rise up one more time even if the business fails? Because the person has built it initially without much knowledge and experience. With everything now in hand, can’t it be built one more time? But the question is whether he/she will be willing to start again. If the answer is yes, then he/she can be able to build anything new. Maybe some new service/product or a new industry too.
Ford’s first two car companies failed and left him broke. But that didn’t stop him from founding Ford Motor Company and become the first to apply assembly line manufacturing for cars. He became one of the three most famous and richest men in the world. He never dared to dream again and again. So, what’s the mindset? It is the growth mindset and being Innovative, versatile and adaptable to the changes in the world.
Few tips to be a successful entrepreneur:
- Setting SMART goals and working towards it and the ability to change and adapt.
- Finding a mentor to help you grow and bring clarity when you are struck.
- A continuous learner – It doesn’t mean you can stop learning once you are an entrepreneur. that’s the time updating your skills and knowledge is crucial
- Restless reinvention – continuous testing and learning in order to improve the solution to a problem
- Focus on building values and learning by all means to become an expert in the industry
- Focus on user outcomes – not what you can deliver, what the customer want. What experience you can give them and try to solve their pain points.
- And finally Mindset with full of confidence, positive, self-belief that “I am enough” and “I am worthy” and hard work can take the person to heights for sure
Finally, every time you try and fail you get closer to the best solutions. If you are not failing, then you are not doing anything interesting. When you are okay with being wrong, you open up yourself to better ideas and solutions. All it needs to be resilient, the courage to try again and follow your dreams and passion one more time with all the learnings and experiences in your hand and ready to face another set of challenges that come along the way.