Things No One Will Tell You About Being An EntrepreneurWritten by InvoiceBerry Team on January 14, 2019
The path to becoming an entrepreneur is a combination of a series of challenges and rewards. Having said that, it is great to begin your first entrepreneurship footsteps early on. But it’s also pivotal for you to understand the different traits required to taste the fruits of success.
To become an entrepreneur is not an arduous task but one that involves gaining a deeper insight into the basic and essential requisites.
What we are talking about here is about the most important and significant traits that lay the foundation cliché to your successful business.
An entrepreneur need not necessarily relate to being a corporate giant or a globally renowned business owner. On the contrary, a successful entrepreneur can also be the chief individual behind a home-based business.
Must have skills to become an entrepreneur:
1. Communication and speaking skills
2. Management of people, work, and money
3. Promotion of yourself and work
In order to make yourself heard to your target audience, it is extremely imperative to communicate accurately.
Developing your communication and speaking skills not only helps you exchange information easily, but it also helps you to convey your message in the most appropriate way. It is the ability to allow people to understand you and everything in regard to your business product.
Nothing can go unheard if conveyed in the right way!
While you are en route to becoming an entrepreneur you will meet lots of people and develop innumerable strategies to reach out to your target audience. All this entirely depends on your communication and speaking skills. People would gain absolute confidence when your communication is crisp and clear.
Communication to your target audience not only means your conversational skills but also your ability to convey the message of your product effectively.
This indicates the second most important trait to become an entrepreneur and that is to promote your business and its products.
In the information age, electronic gadgets and technologically abled machines and devices like smartphones are making waves in the world of business development.
Therefore, to be an active runner in this race, you need to be well versed with these devices that will help you to communicate and proficiently promote your business for better sales and achieving your target.
Finally, to become an entrepreneur and achieve success is to gain the ability to manage your work, people and money.
Management skills are something that can be learned, practiced and improved with time. Generally, these management skills include:
- People – your staff, workers, vendors and your clients.
- Work – delegating the assigned work to your employees and completion of your work to submit to the client.
- Money – to efficiently manage your monetary account such that you are financially stable to meet the monthly remuneration expenses and also make profits.
Good Habits from Successful Entrepreneurs of the World
Nothing comes easy for anyone and who better to understand that the successful entrepreneurs of today. They are determined, hard-working, dedicated and focused. And those who have been able to transform their dreams into reality are some of the most successful entrepreneurs. Though all of them started small, they were able to make it in the competitive entrepreneurial landscape.
The Persistent Mukesh Ambani
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, is the richest man in India. He owes his success to his legendary father, Dhirubhai Ambani, whom he considers to be his inspiration.
One of the biggest reasons why you may consider Mr.Ambani as the most powerful man in India is his exceptional skills in executing projects that comes in his way. In the early 80s, his plant was capable of producing 30,000 tonnes of oil. With the advent of 21st century, Mr. Ambani established the biggest refinery in the world in Jamnagar, Gujarat that is capable of producing 60 million tonnes a year.
The Focused Mark Zuckerberg
Mark Elliot Zuckerberg, as you all know is an American computer programmer, and the founder of Facebook. At 24, he was the youngest billionaire in the world. Facebook has a whopping 900 million active users today.
His focus speaks volumes!
When his friends were busy elsewhere, he would spend hours coding his website until early morning. He welcomed criticism wholeheartedly, remained firm and took challenges that came his way.
Farsighted Bill Gates
William Henry “Bill” Gates, a top-notch entrepreneur from the USA, the former CEO and the present chairman of Microsoft, the biggest personal-computer software company in the world.
Gates took a rational approach to software that can be used as a possible source of creating a wide array of business opportunities. From the establishment of Microsoft in 1975 until 2006, Gates played a decisive role in product strategy. His determination and success in increasing the range of the company products earned him huge fame. He has kept close contact with the senior managers and program managers.
Hard-working Lakshmi Mittal
Lakshmi Niwas Mittal is the chairman and CEO of ArcelorMittal, the biggest steelmaking company in the world. From buying an Indonesian run-down-plant in 1976 to transforming a moderate business into a giant steel industry that spans across 14 countries with over 150,000 employers is commendable.
His endless hard-work brought him success in developing integrated mini-mills. He made use of Direct Reduced Iron as an alternative for manufacturing steel and by 2004, his steel industry was touted to be the world’ biggest steel producer.
Coherent Jeff Bezos
Jeffrey Preston Bezos, the founder, and CEO of Amazon, an online retail outlet, is considered to be one of the topmost successful entrepreneurs.
Additionally, he is a well-researched individual who evaluated the market thoroughly before delving into an online business. Bezos wanted to give consumers a platform that would help them to buy products from the convenience of their home. He also wanted to offer a user-friendly system to shop online.
What is the perfect schedule of an entrepreneur?
There is no written schedule that an entrepreneur should follow in order to lead a healthy life while performing in a die-hard business.
On the contrary, there are certain practices that every entrepreneur should follow in order to master his time and maintain a healthy work-life balance.
Tips to healthy Work-life
1. First and foremost – schedule your work day and most importantly your life. By reserving time for yourself with activities and events, you will not only be able to steer away from the monotonous life but will also be able to stay motivated, energized and happy.
2. Eliminate the fear of losing your client or business if you work every minute of the day.
3. Grow your business with the principle of building a lifestyle. This means that less stress, more work, all while staying focused and happy.
4. Set a boundary for work. In other words, try to maintain a schedule that allows you personal time. This will not only help you to remain productive during working hours but will also help you to get rest, physically and mentally.
5. Do not start your day without a proper plan. Give yourself 30 minutes every morning to plan your day, delegate work to your employees or staff and schedule your meetings and appointments.
6. At any cost do not skip meals for the sake of work. You will not lose anything if you have food on time. And you’ll avoid being the hangry employee that everyone is trying to avoid.
7. An adequate nutritious diet is a great way to remain healthy. Try to munch some fruits or sip some juice for some quick rejuvenation.
8. Turn off or silent mode your smartphone while sleeping. Good sleep is essential for a great energetic day.
The life of an entrepreneur is relentless and tough. But no job pays off more.
You start from the bottom and work your way up.
And while you may fail time and time again, the most successful of entrepreneurs are those who have picked themselves back up again and persevered.
The business moguls of today all have lessons to teach on perseverance, determination and a willingness to learn and soldier on.
Effective communication and strong managerial skills are two primary facets of a successful business! What are you waiting for?
Taylor Ryan has co-founded 5 startups. Currently the CMO of a venture backed Ai company Valuer.ai. Published a few marketing e-books. Consulted on SEO/SEM for 3+ years in the Washington, DC area. Grew up in Washington, DC but have been living in Copenhagen, Denmark for the past 3 years. Mentor, startup junkie, technical marketer, and growth hacker.