Admittedly, entrepreneurs strive upwards toward success. But what practical wisdom do they apply daily to their lives and businesses? If you’re looking for fresh insight, don’t miss these brilliant tips from twenty entrepreneurs; chock-full of practical wisdom and insights to move your business forward.
1. Become comfortable with being uncomfortable.
“In order to succeed as an entrepreneur, you will find that there is many things that will bring you discomfort (i.e. firing employees, informing family and friends you’ll miss yet another event, eating Ramon Noodles for 6 months straight, or taking a real step toward limiting your daily Candy Crash addiction). The important thing to remember is that the purpose is bigger than the process and if you successful master the skill of embracing change you’ll reach personal and professional success.”
2. Always be professional.
“Always be professional and know how to identify what is not in [your best] interests. It is essential to understand the difference between that which is personal and that which is business-related. To succeed in the 21st century, one must maintain the tradition of professionalism that is timeless and is relevant from the “tweet” all the way up to a keynote speech. Professionalism also leads to humility, an attribute that is of greater significance in the present era, as the prosperity of the overall enterprise is prioritized.”
3. Delegate and outsource often.
“Most entrepreneurs have the “do it yourself” mentality. This can be the biggest roadblock to a startup’s growth potential. It is very easy to become the go-to person for everything and eventually nothing gets done without your involvement. Each new employee must understand that they need to be proactive, accept responsibility and grow with the company. Outsourcing non-core business processes can be a very effective method of incrementally letting go. Services such as Elance, ODesk and Freelancer enable business owners to take advantage of a global workforce with very little effort. ”
4. Stay focused – always.
“Focus!! Entrepreneurs must possess the ability to stay focused without loosing interest or getting caught in the details. [If you work from] home … set a schedule for work, even if it’s less than 8 hours; you must do nothing else. but work during that time. Always look at the big picture and ask yourself if [a distraction] is contributing to the final goal, and if it doesn’t it’s not important or worth your time.”
5. Relentlessly pursue excellence and achievement.
“Entrepreneurs must be gritty in order to transform each hardship, setback, and self-imposed limitation, into superior achievement. For any entrepreneur committed to success, there is no such thing as resting, coasting, or simply maintaining. Staying “on top” is often more difficult than getting there … being gritty to fuel and stay committed to achieve your utmost potential is vital.”
6. Develop a winning mindset.
“Within every problem, there is valuable learning that leaders [can] evaluate. With a winning mindset, nothing happens without a reason. With every challenge, ask yourself, why did I create this, what’s my part, and what is the lesson for me to learn? With a winning mindset, problems become opportunities to move forward.”
7. Be adaptable and on the lookout for change.
“You can have all the knowledge of a field you want, but if you cannot adapt to changes in business, technology, and thinking, you might was well forget about success. Adaptability is the single most important skill that has helped me succeed in my business. It, in turn, has helped me make my clients more adaptable and profitable as well. Entrepreneurs that can’t adapt will not last very long.”
8. Be tenacious and persevere.
“Sometimes you not only have to knock on doors to get your product or service seen or heard, but you may even have to knock the entire door down or figure out an entirely different way to get where you need to go. Tenacity separates the ‘wish I was…’ from the ‘here I am’.”
9. Create a realistic vision with unyielding drive.
“ Realistic vision is important because many entrepreneurs ‘drink the Kool-Aide’ and convince themselves of a business plan that is destined to fail. Be real, be honest, and develop a solid plan. Once that plan is anyplace, you must trust it and attack with insane drive. Know that there are 1,000 other people in the country doing the same thing … trying to put [you] out of business. The successful entrepreneur knows this and works that much smarter, harder, and effectively.”
10. Become self-disciplined.
“Most entrepreneurs have never been is a position where they don’t have to answer to someone. For many people, the fear of a boss yelling at you, not getting a promotion, or being fired is a motivating factor in their work. When you work for yourself, none of these things matter. If you don’t have the self-discipline to work your tail off without anyone looking over you, you’ll have a very difficult time of it, and you’ll find you really do have a boss … your checkbook.”
– Emory Maginnis, President of Maginnis Film & Entertainment Insurance Services, L.L.C: @maginnisfeis
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