Improve Your Entrepreneur Skills

Every day we see more and more individuals founding start-ups, with very few of these businesses succeeding in the long run.  So, how can you become a better entrepreneur? Follow along and we will give you tips and tricks to help set you up for success!

Every Business Starts with an Idea

Equip yourself with the proper knowledge for the area you plan to work on. Look up online classes, webinars, seminars or even courses that are in your field of choice. This education and hard work will become helpful for you in the long run as it will work to better prepare you to handle different types of situations that arise. Let’s face it, without this hard-work and perseverance, you’re not going to be successful in the entrepreneurial world.

Be Passionate in Your Entrepreneurial Pursuit and Challenge Yourself to Continuously Learn

If you do not have the passion and love to pursue your business, then do not do it. It is truly as simple as that. When you are an entrepreneur, you must put in long hours and make continuous sacrifices for your business. When you pursue your start-up with a passionate heart, the long hours won’t feel like such a sacrifice.

Learn to Take Risks as an Entrepreneur

We never know the outcome of our efforts unless we do it. As humans, we generally choose to avoid risks at all costs. Successful entrepreneurs realize that taking risks is part of the job. As a successful entrepreneur you must learn to differentiate risks that will help your business and risks that will hinder it.

Taking risks can be scary, but the reward of taking risks could outweigh many of the potential dangers. Learn to recognize which risks are worth taking and which you should walk away from. Jeff Bezos said that he wouldn’t regret failing, but he would regret not trying.

Always Trust Yourself

Henry Ford said, “Whether you think you can, or think you can’t, you’re right.” If you are incapable of trusting in yourself, how will anyone else be able to trust you (or your business)? A successful entrepreneur is an individual who has learned to trust and believe in the decisions that they make.

When you can trust your knowledge and decisions, you are will be on the path to entrepreneurial success.

Consistently Visualize Your Goals

When you ask a successful entrepreneur what their goal is, they are able to clearly tell you in great detail what they are working to achieve. While it’s not a new concept, visualizing success is a common practice of athletes, entertainers, and entrepreneurs as a way to reach their goals.

Take Action as an Entrepreneur

Do not get too wrapped up planning and discussing action you might or should take. When you spend too much time talking, you delay action. There is a fine line that you must learn to walk and recognize when it is time to stop talking and make something happen.

Put in the Time

No one is an overnight entrepreneurial success, even if it may feel like that is the case. No matter the business, we guarantee it took hours, days, and even years to create their success.

Successful entrepreneurs took the time to reach success. Keep putting in the hours and before you know it, you will be a successful entrepreneur.

Plan Your Finances

Every business needs money to survive. That is just the reality of the situation. However, we often see unsuccessful entrepreneurs spend too much time looking for money and not enough time working on their business. We suggest making sure you plan your finances in the beginning of your journey so that you have a plan that can be grown or slightly changed along the way.

Know Your Customer

If you start a business on the foundation that you have a great product, but you do not know who the product is for, you are in trouble. Before you choose to raise capital make sure there is a customer that could benefit from your product or service. Because without a customer there is no business.

Successful entrepreneurs know who their customers in and out and successfully market directly to them.

Successful Entrepreneurs Listen to Complaints

This tip is the hardest, but the most important thing for entrepreneurs to learn. Bill Gates once said that your most unhappy customers are your greatest source of learning, and we couldn’t agree more. Dealing with criticism is never easy on a personal level, and when you’re being badmouthed in a way that hurts your finances as well as your feelings it is even worse. We want to encourage you to take the high-road and look to customer complaints to find ways that your business can improve, without taking it personal.

A smart and successful entrepreneur listens to complaints and chooses to use that valuable information to better their business.

Create an Elevator Pitch

Every successful entrepreneur can tell you a quick 30 – 60 second pitch about their business. Having this pitch polished and ready to go anytime someone asks you about your business is key as it demonstrates your professional aptitude, and the strengths and skills your start-up brings to the table.

Network with Anyone You Can

Business networking is an artform and as an entrepreneur you should be an expert in it. Business networking is all about connecting with people that is beneficial for each other’s business. You never know who your next customer will be or where that customer will come from.

Use a Calendar Religiously

Successful entrepreneurs use their calendars for everything. As an entrepreneur it is easy to give your all to your business and not leave time for yourself or your loved ones. Though the desire to pursue your business should be a strong one, it is not worth losing your family (or yourself) in the process. Add time to relax, work out, and even time to spend with friends and family to your calendar. When you run yourself ragged with your business, you will not be able to maintain that pace for long.

Learn to Ask for Help

As an entrepreneur you will often find yourself in different positions when you need to ask for help. A well-nurtured, reliable network can be there in times of need. We want to encourage you to not be afraid to ask. Sometimes that is a hard pill to swallow, but you cannot do everything on your own. No one can.

Stay Inspired

Successful entrepreneurs are inspired, and they take time to continue to be inspired. Inspiration has the potential to spark incredible ideas, and incredible ideas can take you far. So, watch a movie that you found inspiring, listen to a Ted Talk or inspirational podcase during your daily commute. Do what you need to do to keep your inspiration at a top level.

Deliver More Than Expected

Successful entrepreneurs always deliver more than customers expect, which is an incredible tactic to help you get noticed in your industry and build a loyal following in the process.

Being a successful entrepreneur takes a lot of work, a lot of vision, and a lot of perseverance. It also often means learning from those who have already achieved their goals. Having a mentor can be an incredible blessing to an entrepreneur. If you haven’t found yourself a personal business guru, know that we at iStart are here and ready to help you navigate the entrepreneurial path easier. Our business accelerator is looking for entrepreneurs who are excited to make waves in their industry with new business ideas. Are you ready to start your start-up venture?