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Who is an Entrepreneur and 33 Tips to Become a Successful Entrepreneur
What is Entrepreneurship?
The traditional definition of entrepreneurship is the process of launching, designing, and operating a new business, which is usually undertaken by small companies such as start-ups. These companies provide new products or services and those who run them are called entrepreneurs.
While the definitions of entrepreneurship focus on creating, launching and operating businesses, and due to the high risks when establishing start-up companies, a large percentage of these companies are exposed to closure and failure due to lack of funding, wrong decisions, economic crisis or a combination of all of this, or lack of demand in market,
The definition of entrepreneurship is getting bigger and broader than creating a new business in the first decade of the twenty-first century. The definition has been expanded to include how and why some individuals determine the opportunities available in the markets, and how they make the opportunities and ideas viable, then how to make the best use of them, and of course the definition has become including how the entrepreneur takes advantage of these opportunities to develop new products or services or launch new companies or even an industry New to achieve and create profit and fortunes.
The basic principle of entrepreneurship (try things until you succeed, learn from your failures and mistakes, and try to conserve your resources),
Entrepreneurship is an economic term associated with administrative sciences, and entrepreneurship is defined as finding new creative ideas through a person or group of people, and these ideas contribute to the establishment of a new project or the development of an existing project, and these ideas work to develop and develop society and create job opportunities and development The economy by raising the level of national income, which leads to higher economic growth.
Entrepreneurship means creating new ideas, and these ideas produce new markets. For example, before the existence of the Internet, there were no markets for buying and selling like Amazon, but the presence of the Internet created these markets, but we should not forget the entrepreneur who founded Amazon Jeff Bezos and built this successful edifice. This is an example Good on Entrepreneur and Entrepreneurship.
Separate article What is Entrepreneurship, Its Importance and 11 Examples of Entrepreneurship
Entrepreneurship is characterized by a spirit of innovation and risk. Entrepreneurship has many types. I recommend reading this separate article entitled The 10 Types of Entrepreneurship and 8 Types of Entrepreneurs
Who is an Entrepreneur?
An entrepreneur is someone who has the ability and willingness to develop, organize and run a business while taking risks in order to make a profit.
The term entrepreneur that we know now has been in our lives for years, but with another name, which is “the self-made man”. Entrepreneur whose main capital is the talent and skill to seize opportunities and turn them into profitable projects. The entrepreneur is also distinguished by his ability to exploit all the resources available to him.
An Entrepreneur is a person who creates a free business characterized by creativity and risk, whose main capital is talent and skill in seizing opportunities and turning them into profitable projects.
How to become a successful entrepreneur
There is no secret recipe for becoming a successful entrepreneur, but here are 33 tips to help you on your next journey:
1. Be diligent
A diligent person is a persistent person, and being persistent and diligent means that your behavior is to continue and try to achieve your goals, no matter how difficult the situation is, and this is what we expect from entrepreneurs. Perseverance is the ability to keep going when everyone tells you to give up.
Honestly, without hard work and perseverance, you will not achieve anything in the world of entrepreneurship.
2. To become a successful entrepreneur, you must challenge yourself
If you want to be a successful entrepreneur, you have to challenge yourself. No one is going to motivate you, so it's up to you to do so.
Challenges make the entrepreneur shrewd and well-prepared. If you are constantly looking for the next challenge, you will always be prepared for whatever comes your way.
Here is an example you should take into consideration:
When you go to the gym and lift 10 kilos to strengthen the biceps muscle in your arm, at first the 10 kilos will be heavy, but as you continue and build your muscle strength, it becomes easier.
Do you stop at 10 kilos? Of course not!
You will lift 20 kilos to strengthen the biceps muscle more, and you will continue until you build the muscle strength needed to lift this weight, but if you go back at any time and lift 10 kilos, you will feel that this weight has become easy, and of course you will not stop at 20 kilos You will continue to lift more weight.
Challenging yourself with new and challenging tasks will make your other tasks seem simpler. Like entrepreneurs, you always have to look for the next big challenge.
3. Successful entrepreneurs are passionate about their work
If you don't like what you do, don't do your job. I really think it's that simple. As an entrepreneur, you will have to work long hours and make sacrifices for the sake of your business.
When you are passionate about what you do, working long hours will no longer feel like a sacrifice.
Have you ever seen those entrepreneurs who never seem to get tired? Those entrepreneurs who have a twinkle in their eyes when they talk about what they're doing? This is called passion. If you are passionate about what you do, then as an entrepreneur your job will become a little easier.
4. To become a successful entrepreneur, you must take risks
Humans are generally risk averse and averse, but successful entrepreneurs take risks. Risk is part of entrepreneurship.
Successful entrepreneurs know which risks to take and which risks to avoid. As an entrepreneur, you need to learn to recognize the risks that will benefit your business so that you take those risks.
Risk has a serious side, but the opportunities that come with risk often outweigh the potential risks.
Separate article What is the difference between an entrepreneur, an entrepreneur and an entrepreneur?
5. Believe in yourself
If you don't believe in yourself, who will trust you? Being a successful entrepreneur means you've learned to listen to your intuition and rely on your wisdom when making decisions.
Your ability to believe in yourself will make you a confident person. And people are more likely to follow and trust self-confident leaders. Confidence in your own skills can also help mitigate some of the uncertainties associated with any entrepreneur.
When you feel uncertain, remember how much experience and knowledge you have. Most entrepreneurs start their businesses after years of experience working for someone else.
There is nothing wrong with asking for help when you need it or turning to a mentor for advice, but you also have to learn to trust yourself and your own judgment without input from others.
6. Reducing fear
Fear stops making decisions. Entrepreneurs must be able to focus and take action quickly when they see an opportunity or realize a mistake.
When you have fear, you will not be a successful entrepreneur. As an entrepreneur, if you let fear control you, you will not be able to listen to your intuition, you will be afraid to take the necessary risks in any business, and your judgment will be clouded by emotion.
If you can find ways to reduce and manage your fear, you will be a much more successful entrepreneur. In my opinion the best advice for managing fear as an entrepreneur is to do confidence building exercises. For me, I take a few moments at night to reflect on the decisions I made that day that had such a great result.
Thinking every day about decisions you've made that have benefited you personally, benefited others, or your business will help you build your confidence quickly and reduce fear.
7. Successful entrepreneurs visualize their goals
This information is less abstract than you might think. When I recommend to entrepreneurs to visualize their goals, I don't mean to ask them to close their eyes and visualize their goals in front of them.
What I want you to do to visualize your goal is define it clearly so that it is real and tangible.
For example, which of these goals is more achievable:
1. I want to become a successful entrepreneur.
2. I will become a successful entrepreneur by starting a business that solves a problem for my audience in that specific market.
Definitely the second goal, right?
When you can clearly define and visualize your goal, your goal will become more achievable. When you ask a successful entrepreneur what their goal is, they will tell you in great detail what they are working towards.
8. Hire great partners to help you become a successful entrepreneur
I will admit that this might be a little obvious, successful entrepreneurs are not successful out of thin air. They all have a great team and network behind them that supports them.
When I recommend hiring great partners, I don't just mean someone who can do the job they were hired for. You should look for partners who have a wonderful personality and for these partners you carry feelings of love and respect.
You and your partners will work long hours together and make tough decisions. If you do not respect your partner(s), your team will not last long. Make your team full of people who have good and good qualities and you will be on your way to success.
When choosing partners and members of your team, always remember that you can teach people skills, but you cannot teach them personal qualities. If he does not respect anyone in his daily life.
9. To become a successful entrepreneur, you must act fast
Speech delays action. Successful entrepreneurs make decisions and act.
It's easy to finish planning, discuss potential failures, discuss financing, and speak in meetings with board members. If all you do is talk, you won't get anything done.
At some point, you have to stop talking and make something happen.
10. Successful entrepreneurs spend time on important tasks and be patient to see results
Do you think there is such a thing as overnight success? I recommend that you take a closer look.
When you examine, you will find that the people and businesses that made a deep impression and achieved successes overnight, actually worked hard for a long time to achieve their accomplishments.
When you think you've found success overnight, check back and closely examine the hours, days, and years that contributed to the success of these people and businesses. Take a look at their lives, the things they learned, and how many times they failed.
Successful entrepreneurs take the time required to succeed. And many of them have failures along the way.
If you think that it takes a long time to find success, like to check yourself. Keep trying, work long hours, and before too much time passes, you will be a successful entrepreneur. Just imagine looking back on all the hard work you put in and knowing that it paid off. Keep this image in your head to motivate you to progress through the long hours of toil and hard work.
11. Plan finances and finances
Startups and entrepreneurship companies need money. This need is part of the nature of these companies. Many entrepreneurs spend too much time looking for money and not enough time executing, but that doesn't mean you can jump into the abyss without a plan.
There are some ways in which you can finance your business:-
1. Self-financing
2. Investors
3. Loans for start-ups provided by governments and banks
Decide what's best for you, and plan your finances from the start. Try to stick to your budget, but I know the plan will have to be adapted along the way.
12. Who is your customer? Successful entrepreneurs know the answer
One of the most common reasons for entrepreneurship companies to fail is the lack of a client. If you start a business or make a product but don't know who is going to buy it, that person may not actually exist.
Before creating a financial plan, raising capital, or even choosing a name, make sure you have a customer who buys your product or uses your services. Without a client, you don't have a business.
Successful entrepreneurs know who their customers are and the target market.
13. Successful entrepreneurs listen to complaints
This is one of the tips I think is the most important for entrepreneurs to learn from. Your customer complaints are how you will identify the weaknesses in your business. Of course as we said in the previous tip, without clients you cannot have a successful business. There is another possible scenario, though.
You may have customers who are interested in your product or service, but if you don't listen to their complaints, you will soon have no customers.
Take your customers seriously, treat their complaints with respect and listen. You may think that your product gives your customers value and meets their needs, but they may not agree with you.
Your customers know what they want, and they will tell you what they think. Smart and successful entrepreneurs listen to these complaints and use this information to fix weaknesses in their business.
14. Exceeding everyone's expectations
If you deliver more than you promise, you have surely satisfied clients, investors and business partners. Making promises and not keeping them is a quick way to lose track of your business.
By contrast, successful entrepreneurs exceed expectations.
15. Manage risks to become a successful entrepreneur
Remember when I said you should take a risk?, of course you should, but you shouldn't take all the risks that are presented to you. Instead, manage your risk.
As a successful entrepreneur, you need to know how to decide what risks to take but also when to take those risks. Make sure you understand where you are in the entrepreneurship lifecycle when calculating the risks to take.
16. Read Case Stdies
As an entrepreneur, you will be very busy working on your business, and you will need to take care of it all the time. When you get home and have some free time, you may be tempted to read fantasy novels or books for your entertainment.
Instead, I encourage you to read Case Studies. Read biographies of successful entrepreneurs. Read all you can get from those who have already succeeded. There is always something to learn from those who have already done it.
I especially think it is important to learn from the mistakes of others. If you learn from their mistakes, you will never have to make those mistakes yourself again.
And if you make mistakes yourself, you should definitely learn from your mistakes. The more you learn from their mistakes and successes, the faster you will be in growing your business and the faster you will be on your way to becoming a successful entrepreneur.
17. Successful entrepreneurs promote themselves
Many people don't want to promote themselves or talk about their work too much for fear of being conceited and not being obsessed with themselves. But if you don't self-promote yourself, who will?
A distinction can be made between vanity-based promotion, self-obsession, and self-promotion. But a friend of our business black site may ask about the importance of personal promotion, I will tell him:-
1. The most wonderful things will not sell themselves. If you don't tell your own story, no one else will hear it.
2. You will be a new network when others hear your story. Self-promotion helps you grow professionally, get a raise (if you're employed), find a new business partner and make a difference.
3. Self-promotion is an important leadership skill. When you get out of your comfort zone and speak for yourself, you will learn how to inspire others to participate in your work. Real change happens when you bring other people on the trip.
For self-promotion, you must be aware of your business, know some key statistics, and be able in 15 seconds to present your business idea. Thus, when someone asks you about your business, you can promote it realistically and quickly.
Another way to promote yourself without sounding cocky is to see what your customers are saying about your business. When someone asks how your business is going, you can tell them about customer feedback. And of course don't forget to provide some of the negative comments as you will save the good comments.
18. The successful entrepreneur establishes and oversees a positive company culture
There may have been a time when company culture didn't matter, but with social media and 24-hour news channels, your company and your employees are always under scrutiny.
Company culture is defined as the shared set of values, goals, attitudes and practices that make up the organisation. How an organization crafts its own culture is entirely up to it.
Establish a positive company culture from day one, and you'll be more likely to work with people you enjoy working with who inspire you as well as attract great clients.
The term “company culture” may not be understood by everyone because it is a very new term for the Arab corporate environment. Not all Arab companies currently have a corporate culture. To clarify, there are companies in which corporate culture is based on an open door policy and transparency of information transmission, and that the employee can communicate with managers. To ask them about anything related to the company, its products, its status, etc., at any time.
There are company culture companies in which it is based on the fact that continuing education is the basis for continuing your work in the company. You will find that employees must take training courses every month to improve themselves at the professional level. To understand the term company culture more, there is a foreign article that dealt with 27 examples of company culture.
19 Networking
You should be a lot of relationships and make your network grow as much as you can, what I mean is that you shouldn't stop communicating because you never know where the next bullets will come from.
Chances are, if you communicate with enough people, you'll bump into another businessman who might have the ideas and connections you need.
You might find a new connection over a beer at an airport bar, you might meet your next business partner in an elevator on your way to a meeting, and you never know who's sitting next to you on the bus.
Get to know each person you come in contact with and talk to them for a while. You never know who you are sitting next to and what connections or resources they might be able to offer you.
20. Learning and Creativity Mindset
The mindset of a successful entrepreneur is the mindset of learning and creativity. As an entrepreneur, you always want to take in new and creative information. This kind of mindset can drain you and tire you out, but without that mindset, you won't achieve anything.
Learner Mindset: Refers to the individual's basic attitude towards the act of learning. A person with this mindset views all interactions with the world as learning opportunities. This mindset makes a person a permanent learner with the ability to use change and challenges as opportunities for growth.
Creator Mindset: You understand that you are responsible for every success, and you are responsible for every failure. You assume full responsibility for your current situation. When creative people reach a goal, they know that their success is the result of their hard work, dedication and actions.
In the same way, when creative people face an obstacle or defeat, they take full responsibility for their mistakes. Creative people learn from their mistakes and look for solutions to the problem. They are consciously making efforts to improve their situation and, ultimately, their lives.
To stay in the mindset of a learner and a creator, stay away from TV, social media, and movies. These types of entertainment make us lazy and just downstream.
Go about everything in moderation, but in general, these activities are a waste of time for entrepreneurs. Reducing your leisure time is the sacrifice that must be made to become a successful entrepreneur.
Instead of watching TV and movies, read case studies and meditate. Take care of your mind and body in constructive and healing ways. You might say that you feel good watching TV, but in reality watching TV is not a good way to rejuvenate and relax.
To be a successful entrepreneur, find activities that help you relax to restore the mindset of a learner and a creator.
21. Entrepreneur Keeps His Promise, Doesn't Sell
Frankly, not everyone likes to buy a product and discover that this product does not provide the specifications that this product promised to provide from the beginning.
Instead of selling to your potential customers, keep your promises and commitments. If possible, offer them a free trial and provide a good product that meets all their requirements. When your company offers a great product or service, you will build customer loyalty to your brands faster than you can say the word “successful entrepreneur.”
22. Take small steps to become a successful entrepreneur
Building a successful business may seem like a daunting task, and that's okay. Building a business from the ground up is a huge thing.
Fortunately, I have a foolproof tactic. Any seemingly intractable problem break it down into small steps. Once you break down what's facing you into small steps, take each step one at a time. And before you notice, you'll find you're halfway there to solve all your problems.
With determination and perseverance, the Baby Step Technique will put you on the right path to becoming a successful entrepreneur.
23. Put everything in your calendar
You think I'm kidding, but I'm not. Put everything on your calendar. Put your meetings, quiet work hours, time with friends, business meetings, kids clubbing, sports, meal times, and whatever else you do on your calendar.
Once you have something on your calendar, everyone who needs to meet with you at this time will know that you are unavailable. Also, once everything is on your calendar, there are no excuses for not getting things done.
I would like to draw your attention to one of the items you mentioned, which is the time for quiet work. It is the time when you can work, solve problems, or think creatively without interruption. In order to be a successful entrepreneur, keep your quiet working times in your life, the success of your business may depend on it. Everyone needs these times.
24. Exercise to become a more successful entrepreneur
Did you know that sitting all day is bad for your health? Surely you are aware of that. Being a successful entrepreneur does not just mean running a profitable business.
Neglect yourself and you may not be there to enjoy the success of your business in the future. You must take care of yourself as well as your business. Make sure to reserve time in your calendar to do some exercise and get out of your seat.
A sick or unhealthy entrepreneur is not a successful entrepreneur.
25. Successful Entrepreneurs Stay Focused
The life of a successful entrepreneur can feel messy and disjointed, but it is important to limit the time you spend multitasking. Research has shown time and time again that multitasking just isn't enough. Humans are not capable of that.
Of course, multitasking includes getting distracted by phone and email. Close them and put them away. You have to learn to focus and take your time to do just one task. Giving one task your full attention, means that you are more likely to get that task done and do it well.
It's also important to know that many of the tasks on your to-do list can make you ineffective and distracted. Learn how to focus your to-do list on the tasks you can complete in the amount of time allotted to them.
For example, every night, assign the three tasks that you will complete the next day. Each month, define the overall goal for your company that you want to achieve in the next 30 days.
These techniques can help you learn how to focus and run your business more effectively.
Separate article What is the difference between an entrepreneur, an entrepreneur and an entrepreneur?
26. Take a vacation
We finally come to a tip that I think is hard for successful entrepreneurs to put into practice.
I really mean that you need to take a vacation, you may not need a vacation every day or every week, but you need to take a vacation to get away from anything related to work. If all you do is work, you will drain your energy quickly.
I think this is the biggest challenge for entrepreneurs because they often see themselves as invincible or think they should be invincible. This is not true, we are all human and need a vacation that allows the mind to wander, rest and think. Have you ever wondered why you think of so many ideas in the bathroom? That's because only your brain has free thought space there and so you can run your imagination.
Even the most successful entrepreneurs don't work all the time. Everyone needs a vacation, so don't be ashamed of yourself for being human and normal.
When you take time off, notify your employees well in advance, and let them know why the time off is important to you. Telling your employees the importance of time off will help them to respect your time while you are away and not disturb you, and to be able to determine the extent to which they need time off. You should allow employees to take time off as well. They are human beings and they are faced with sudden occasional circumstances and they need rest and recuperation.
Take a vacation before you need it and know that it is important to recovery, creativity, and take it in order to become more successful as an entrepreneur.
27. Successful Entrepreneurs Ask Questions
You do not know everything. Nobody has all the knowledge. You should seek help and advice, have mentors, and anything else you may need while setting up and running your business. Asking questions is a valuable skill that you must possess as an entrepreneur.
The more information you have, the more knowledge you have, and the more you will be able to take that knowledge into account. Asking questions also helps you stay in the learner's mindset, ready to accept advice and information.
Learners and those who ask questions are more likely to become successful entrepreneurs.
28. Learn from your failures
Failure is a natural thing, and it happens to everyone. It is better to accept now that failure will happen to you at some point, than to accept failure at a later time. The way you deal with these failures will lead to the success or failure of your business.
It is better to get used to failure from now on, because it is part of your path to becoming a successful entrepreneur. If your first business fails, keep in mind that you can build another business out of the lessons you learned from your first business.
29. Get inspired
To be an entrepreneur is to pursue creativity. As an entrepreneur, you have to network, solve problems, and create new things that no one else has thought of before.
Creators and innovators need to be inspired and inspired by something.
Successful entrepreneurs take time out for the things that inspire them. Maybe your inspiration comes from being in an art museum, maybe from reading books, maybe from scribbling (scribbles are random, imprecise drawings, writing, and lines). Whatever inspires you, do it. This will be good for your business.
Whenever you feel exhausted, go out and try to get inspired. Inspiration is the spark of ideas. Ideas make successful entrepreneurs.
30. Successful Entrepreneurs Helping Hand
Entrepreneurs are busy, so this advice sometimes they fail to heed. It's easy to think, "I don't have time to help anyone else! I'm really busy!"
However, helping others can be broadly inspiring and beneficial. Helping others makes you feel good, and moreover, as an entrepreneur, you have a network with which you can share your experiences and jobs that you can hire people for. So why not help when you can help?
When you help someone, they are more likely to find a way to help you. It may not be today or tomorrow, but somewhere and sometime in the future, and help will come when you need it.
Helping others is also a great way to build a network of loyal and supportive relationships around you.
31. Create a plan of action
A business plan puts your ideas on paper and helps you visualize how to run your business. In short, your business plan should at least answer the following questions:
• What is your product or service? What are your priorities?
Where will you do your business (business)? Where do you want to be in five years?
• When will you practice your business (business)?
• Why should people buy your product/service?
• Who is the target audience? Who are your competitors?
• How will the daily operations run? How will you deal with unexpected emergencies?
These are just a small sample of questions for you to start the brainstorming process. The more questions you can answer, the clearer it will be to run your business.
32. Be frugal.
Think twice before buying anything or signing a lease.
To determine if the spending is a necessary and a good investment, review your business plan and ask yourself how this purchase will contribute to the success of your business, as well as any additional costs you may incur, such as depreciation and maintenance costs.
Always aim to get more of your requirements at less expense, and look for ways to reduce costs, such as bartering with other companies.
33. Investing in insurance.
Risk management is a major part of an entrepreneur's job. Any decision carries risks of its own, some of which are completely unpredictable.
No one will be able to predict what might happen tomorrow, so you should spare no expense to keep your business and property protected. I've noticed many business owners regret not buying insurance, after unfortunate events and the bill for repairs, their remorse appears.
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