Must Do Things to be a Successful Entrepreneur
To do something totally different one must start from scratch…
Give some amount of credit to the providence.
‘Everything cannot be predicted’.
One has to infuriate an oyster before it makes pearl.
Entrepreneurs don’t come from different planet but they have certain qualities that make them different from others. Though we all have the insect of entrepreneurship within all of us but few who manage to give that insect the wings to fly become successful. They become butterflies…
“It’s an art and also a science.”
Entrepreneurship is all about ideas and entrepreneurs keep playing with ideas.
Ideas keep coming to us, knowingly and unknowingly. We keep screening and we keep scanning those influx of ideas, the art lies in spotting the right idea that we can turn into a successful business model.
I repeat, it is an art.
“The art of differentiation.”
“The art of visualization.”
“The art of conceptualization.”
There is a magical connection between the raw idea and the business model. But the real challenge comes thereafter in the process of science… to process the idea, to prepare the business plan, to execute the plan and to sustain the business model through organization structure and system. The cycle of successful entrepreneurship includes so many different intangible facets which is generally not taught in business classrooms and never told by our professors, it is only learnt through critical observation and hard exposure on the ground.
Entrepreneurs have set goals and it is these goals that governors their actions. There are enough distractions in the journey of entrepreneurship and unless & until there is a set direction, and consistency and persistency in action entrepreneurs have every chance to fall prey to the assemblage of distractions. Not easy to set goals.
It rather sounds simple to set the goals.
But successful entrepreneurs never set easy goals and they love challenges and they set challenging goals, it needs deep thinking and it needs working through the thinking to set the goals on course. Goal setting is a big exercise by itself. Successful entrepreneurs learn it fast and they do it in their own inimitable style.
All entrepreneurs may not write the plan, but they do so step by step, in their mind that works out the details in clinical precision through their mental clock. The devil is in the detailing. There is a lot of planning that goes behind the success stories that get scripted. It is just not about the plan but working out the finer prints of the plan that runs behind their mind.
Their mind works like a planner and a scheduler.
Entrepreneurs know how to plan and also how to work the plan. No entrepreneurs have been successful without having a plan, many may not have a written plan but the plan is very much there within. In fact it is imprinted in their mind.
This is the word. The word called “execution”. The success of any venture is riddled in this simple sounding word. Successful entrepreneurs know it very well that the key to success is building good execution capability and no stone left unturned to ensure that the quality of execution in any manner compromised. This is the key. They develop a full control on using this key to success.
There are ideas and there are so many common ideas.
“There is no dearth of ideas.”
Many times it may not be about the unique idea, and the differentiation lies in running the idea uniquely. It all boils down to the competency of execution, the competency of executing it better and executing it swiftly.
The swiftness matters. In fact it determines the speed at which we are able to execute an idea compared to our competitors.
Delays in decision-making process are antidote to successful venture.
Delays pay and pay heavily to any entrepreneurs, so successful entrepreneurs are smart decision makers. They hate delays and they are quick at decision-making, not necessarily all decisions are good, they keep taking decisions and they are not worried in taking the risk while taking the decisions. They may not always take right decisions but they are smart at learning from their mistakes and improve on their decision making ability.
“The ability to take fast decisions.”
The consequences matters but not as much in case of delayed or no decisions.
There are enough scientific methods and seasoned processes that can be used for taking better and faster decisions. It is in the realm of unknown space where the entrepreneurs play most part of their game is based on their intuition and their gut feeling. In most of the cases this intuitive forces comes to their real rescue and they profusely use it in their decision-making process.
This ability makes all the difference to an entrepreneur.
Entrepreneurs knows very well they can do so much and there is so much more to be done for them to be successful.
They don’t shy away from acknowledging and accepting the limitation.
Their lack of competency in certain areas and lack of ability to handle situations beyond a point as the organization grows, acts as a hindrance. It is in these time most entrepreneurs get entangled but those who are successful they know how to delegate and get their things done.
The act of delegation and art of doing it is what ultimately counts.
They are well aware of their core competency and keep working on it and keep improving on their core competency. They know the competency outside their core domain is something that requires a lot of time for them to acquire, time is the essence and they know spending time on such non core activity is not a worthwhile proposition.
They do the mental cost-benefit analysis. They are smart in doing the calculation and they don’t need a calculator to aid them.
There are many other critical aspects of entrepreneurship which is not known to the entrepreneurs and also it cannot be done by the team around them. Successful entrepreneurs don’t stop there and don’t accept the limitation or the lack of knowledge to guide them through these critical phases.
They have their mentors and they know the power of mentorship.
They know how this guiding light shows them the way forward when they are stuck and are clueless in finding the path to navigate out of the muddle. The guidance from mentors is a smart way to learn and do the necessary course correction.
It is not an one way traffic.
“The need is both way.”
There are many mentors who look for such good mentee who can be good listener and good followers to them. It seems a hidden secret but for most successful entrepreneurs it is an open secret that for them to become a good leader they know they need first to be a good follower.
It is never discussed in the same vigor or vitality as all other factors of success, either it is taken for granted or not considered significant enough. But when we look at all successful entrepreneurs the most common denominator is discipline.
Yes, the discipline we learn in school and gradually forget in our work life.
This is something we all have learnt the hard way when we are in school but outside the boundary of school we slowly but certainly forget the alphabets of the word discipline. But in the school of entrepreneurship, discipline is something no entrepreneur can ever escape and become successful. Discipline remains the most common denominator but no other factors can work without this denominator in place, without discipline nothing can be achieved.
Discipline is the most underrated factor and it never gets its proper due, primarily due to the over weight of other loaded factors.
This is the binding glue that keeps the entrepreneur on ground and it is the hidden fuel that keeps the engine of entrepreneurship running. The passion to do what has been close to their heart. They just love doing what they have taken as their work. For them this work of theirs is not just routine process as it may be the case with many others but for them work is joy, the joy of doing what they have passionately loved doing and they want to do what may come.
“The drive is deep within.”
The desire to succeed in their sphere of working, they have the secret energy that keeps coming even when they are tried, exhausted and frustrated by things around them.
Yes, it is in the end a game.
The game of playing entrepreneurship.
A game where the entrepreneurs break the rules to set new rules, and they know how to play the game in their own turf. Successful entrepreneurs are smart players and they know how to beat the heat, the heat of competition.
No playground is without competition and they don’t shy away in facing the contest.
It is about the sportsmanship but it is equally about the spirit of playing the game of entrepreneurship, the ethics matters and they keep work ethics in place. They play hard but not at the cost of compromising their values, and it is their value system that drives the success story.
Life is too short to do all that you want to do, so why spend half of it doing what we don’t want to do…it is the finance and freedom not just the financial freedom that we as entrepreneurs want and that comes by romancing with ‘Entrepreneurship’.