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5 Keys to Becoming a Successful Entrepreneur

April 17th, 2009 by admin No CommentsNo Comments

1) Be Humble and Ask, Don’t Tell- Even the most successful entrepreneur does not know everything about everything, keep an open mind when presented with new ideas and listen before you speak. People like to be asked not told, ask for an opinion, ask for permission, ask how to get it done, and ask for the order. Make the other person feel like they are working with you.

2) Do Your Research- Know your market, know your local laws and ordinances, know your competitors, know your suppliers. Learn why others have failed in that location, learn why others have succeeded. Just like on the battlefield, there is nothing more valuable than good, factual and reliable information.

3) Plan Slowly- Successful entrepreneurs plan out everything up front with care, diligence, and insight. Plan your pricing, plan your service delivery, plan your execution, plan your management, plan your accounting.

4) Execute Swiftly- The best laid plans are worthless if not executed in a timely manner. How many times have you had a great idea, started your research and put it on the shelf only to find someone else brought the same idea to the market and is making a killing?

5) Review & Revise If Needed- Review is a critical part of all business success, what works effectively today, may not be effective and efficient tomorrow. There is always room for improvement, efficiency and better service standards.

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Filed under: entrepreneur assistance, entrepreneur coaching, entrepreneur development, entrepreneurship, small business advice
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