15 Tips to Become a Successful Entrepreneur

Submitted by admin on Thu, 08/15/2013 - 03:08

 People dream of someday becoming an entrepreneur. Being in the business would give them a great opportunity of becoming rich. Others say that they rather be employed than to be an entrepreneur. It is because in the business, you have to take all the risks. 

You can succeed or you may fail and lost your business. I wrote this article to inspire people that in the business, there’s just information they don’t know yet. So these tips will help them acquire knowledge to become successful entrepreneurs:

 
1. Have a positive outlook in life
Having a positive outlook in life greatly affects the business. According to Entrepreneur.com, business owners must have a positive outlook or attitude towards work and accept complete responsibility for the good results of their business. Having committed to their responsibility will teach you the so-called discipline. You will accept your limitations and improve your craft when necessary.
 
2.  Follow your passion
If you love what you are doing, you will be inspired to work hard and give your best to whatever task you may have. Follow your passion is a must in a business. If you want to be successful in an industry, you should be creative. By being creative, you can create products that answer the needs and wants of the consumers.
 
3. Be disciplined
For entrepreneurs, being disciplined is a factor to reach the goala. Starting and running a successful business take time, proper planning, and patience. As an entrepreneur, you are ultimately responsible for the success of your business, therefore, you should expect to work hard from the beginning up to the end. 
 
4. Always make improvement
See to it that every year, you always make improvements because thousands of new ideas and businesses come and go. So if you want to stay long in this business, you need to instill innovation in your products.
            
5. Have a focus
Successful business owners should focus on success. If there is focus, you will just concentrate in what you are doing. You can finish all your works in the least possible time especially when you practice the work simplification technique of accomplishing work. 
 
6. Have an experience
Having experience in the business is a big factor to run your business successfully. This    can never be stolen by your competitors. And this will be your advantage to other businesses because you’re an expert in your own way.
           
7.  Be flexible enough
Flexibility is important because entrepreneurs rely dealing with other people. You should be able to adapt to changes in your environment. By doing so, you’ll find that the business trends nowadays is seeking opportunities on the outside factors and for you to succeed is to be flexible in a dynamic market.
        
8. Get advice from experts
Successful entrepreneurs seek advice from experts. There is nothing wrong if you get some advices from those who are experienced and experts in the business. You will learn a lot from them.
 
9. Take action at once      
Action is important to entrepreneurial success. Bill Gates, co-founder and chairman of Microsoft Corp., recommends taking action immediately when you have a good idea. So if there’s an idea that comes into your mind don’t be afraid to take the risk because you will only know whether your idea will matter if you put this into action.
    
10.Be innovative
Many entrepreneurs who grow and develop are innovative. Introducing new and different ideas may bring good outcome in the business. So it is advisable to         aspiring entrepreneurs to keep on striving hard to achieve success. You must never stop improving your products, to make your products competitive.
 
11. Have a clear vision or goal
To succeed in your business venture, you must always have a set of goal ahead of you. Follow the “SMART” way of setting objectives. ‘S’ for Specific, ‘M’ for Measurable, ‘A’ for Attainable, ‘R’ for Reliable, and ‘T’ for Time-bound. Having this kind of goal needs to be reviewed periodically to monitor the progress of the business.
                
12. Effectively manage finances
Once you have started your business, you need to have a business plan and set apart funds for all the working expenses in your business. You need to spend your money wisely. How?? By not buying unnecessary things in the business. By managing your finances well, you can be assured that your business is in good hands.
 
13. Don’t be afraid to seek training
You might be skilled in a particular field but it doesn’t necessarily give you enough knowledge to successfully run your own company. Consider going back to school and earn a master’s degree to help you learn about good business practices. Also, attend seminars, trainings, and workshops to improve your technical  know- how in the business.
 
14.Sell by creating value
People purchase products and services every day, the more people you serve, means the more income your business will generate. Why?? Because people keep on coming back, once they received good services from the business. You need to consider these questions: What can I give to my customers? What kind of services will I offer them?
              
15. Build a support network
Build a network of supporters, partners, and allies. By attending and joining networking events, you can be sure that you have done a good job. Meeting a lot of people would mean greater chances of promoting your products.
 
I, as an Entrepreneur teacher, would say that this article is of great help for the students. Some of the most famous profitable businesses were started by students. Even if you are not aiming to be another Bill Gates, you can just earn some extra income by being an entrepreneur. You may be able to help your parents in solving financial problem in the family ... continue reading
 
 
References:     
ehow.com
mxk10.blogspot.com
magazine.eselondon.ac.uk
 
About the author: 
Priscilla L. Villanueva, the contributor, is a TLE teacher in Pinagbuhatan High School, Pasig City. She believes that Entrepreneurship is the answer to our unemployment problem. Being a teacher in the subject, she believes that lectures like this will be her humble contribution to alleviatig poverty in our country. (Facebook email account: villanuevapriscilla16@gmail.com)

 
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Tags: 15 Tips to Become a Successful Entrepreneur, Entrepreneurship, TLE (T.L.E.), Economics, Sociology, Social Sciences
 
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