5 Lessons From the Real World That Will Make You a Successful Entrepreneur
Starting up as an entrepreneur is a big responsibility that obliges you to give your best shot in this role.Making grave mistakes at early stage of your startup can have negative effects on its success and it can also affect your ability to build a big business out of it.
In the perfect world, you have the freedom to make your dream business a tangible reality. But we do not live in a perfect world.In the real world, you have to earn the success of your business. Most of the time, the success comes at the expense of big mistakes as a result of insecurities, mistrusts or lack of judgment.
To avoid these mistakes, you need to diligently obey the following 5 lessons of running a startup:
1. Learn From Your Failures
Thomas Edison once famously said, “I have not failed. I have just found 10,000 ways that won’t work.”As true as it sounds, failures are meant to hint our flaws. In other words, failures are the lessons that make us perfect as a person.
There are two ways of doing things. We are either successful at doing a job or find better ways to make it successful. So when we talk about failure, it is about improvising your job and making it better in the later attempts.
Similarly, when you embark on the entrepreneurial journey, you will likely to fail several times. For example, you might fail in efficiently using your finances, resulting in increased overheads or you might fail at managing your team,affecting your ability to deliver timely results.
As long as you are learning something out of these experiences, these failures should not stop you from achieving your goals.
2. Success is a Journey Not a Destination
It took Bill Gates 13 years to make Windows the leading operating system in the software market. Steve Jobs had to wait for 10 years until he was able to taste the success of Apple. Remember that success is never about the destination but the journey that leads you to your goal.
It is the journey that teaches you the dark secrets of success in a business. So you should rather focus on the journey and gain from the experiences as learnt from real-life examples of the above-mentioned bigwigs of technology industry.
3. Be Different From Your Competitors
When you are no different in a crowd, it is easier to get unnoticed. Truly successful startupsachieved success onlyafter they were able to differentiate themselves from the competition. They were able to offerinnovative solutions to the people that revolutionize the way people use a product.
People like Henry Ford, Steve Jobs, and Bill Gates are known for the ingenuity they infused in their products to simplify the lives of the people. Today, they are considered the pioneers in their respective industry.
Similarly, you need to infuse something outstanding in your products that could offer some real value in lives of people.
4. Stay Persistent
The most successful entrepreneurs are the ones who never stop trying no matter how many times they have failed before. The true joy of success only comes when you are able to do something extraordinary out of ordinary.
Wright Brothers are a good example of how determination and continuous efforts lead your way to success. Their iconic invention of the airplane is a result of an unprecedented perseverance andhard work.
It was after many fractures and stitches in their body were the Wright brother able to make their dream of flying a reality. Today, the aviation industry is a global business thatconnects people across miles of distance.
Of course, it takes time and efforts to create something as big as these guys did. But when you look back to see the magnitude of your success, you would be happy to say, “It’s worth it”.
5. Do Not Let Your Insecurities Overpower Your Relationships
In my short span of life, I have seen so many businesses fall apart. Most of them were billion-dollar businesses, such as Onassis, Baring and Bancroft. These businesses failedfor so many reasons. But the insecurities were one of the major reasons behind their failures.
When earning more money become the only agenda in your business, you are left with insecurities, doubts and vanity. These negative approaches often become hurdles in your equation with your team members which in turn affect your ability to inspire your team.
To make your startup a success, it is important to trust the people around you and make them protective shield of your business. You need to accommodate them at every step of your startup and make them feel a part of your business. Once you successfully do it, the elements of misunderstandings and conflicts die a natural death.
Learning the above-mentioned 5 lessons would help you overcome the potential glitches of running a startup and take it to the next level. Best of luck!
Frank Wood is working as a project manager in a construction firm. He has vast experience of managing different projects. Apart from work, he also assists students and gives assignment help in order to provide all sorts of assistance at the time of writing Assignment. In order to connect with him, follow via Google+ | Twitter | Facebook.