How To Become A SUCCESSFUL Entrepreneur? 9 Lessons From The World’s TOP Entrepreneurs

What does it take to be a successful entrepreneur? Lessons from famous entrepreneurs

1 — Brian Chesky on good ideas:

Problem solving in action:

  • When you have an idea baking in your head, go on and share it with your target market. In our mighty list of entrepreneur resources, we’ve noted a resource called AYTM. It enables you to survey your audience and learn how ripe your idea is and how well the market would receive it.

2 — Anne Sweeney on defining success:

  • Learn more about your strengths and weaknesses. An entrepreneurial lifestyle is hard work. Tools like the F4S platform can help you to uncover your strengths and achieve your goals through personalized coaching.

3 — Jack Ma on passion:

  1. What is it that you’ve been dedicated to since your childhood?
  2. What is it that comes naturally to you?
  3. What is that you’ve been known for or credited for since your childhood?
  4. How do your current strengths align with your business idea? Start by jotting your strengths, then analyze how they connect with your idea
  5. What is that you’d pursue even if it didn’t pay off from early on?

4 — Zig Ziglar on goals:

  • Get clear on your passions and what truly motivates or energizes you.
  • Brainstorm and let all your ideas out on paper so you can see the gaps in your thinking.
  • Bounce around ideas with others you trust if brainstorming alone doesn’t help.
  • Prepare a plan based on the idea you’ve shortlisted with SMART goals and execute without overthinking them.

5 — Walt Disney on getting started:

  • Think critically about what’s holding you back and address the culprit before it paralyzes your plan beyond repair.
  • Run your idea(s) through a shiny object syndrome test explained here.
  • Start with a lean version of your idea so you can test and improve it before scaling things.

6 — Ellen DeGeneres on seeing the big picture:

  • Stop idealizing perfection and learn to delegate what you can’t do yourself.
  • Ask yourself big picture questions like ‘what can be the possible consequences of X,’ ‘what is it that you’re not asking yourself,’ and so on.
  • Give yourself some thinking time and journal your thoughts to connect them to your big picture.

7 — Ralph Waldo Emerson on support systems:

  • Work with a coach. Here’s scientific proof: individual and group coaching can help you beat procrastination (this solves the issue of getting started too). What’s more, folks who join group coaching also end up widening their knowledge pool and hitting their goals. In a HBR survey, respondents overwhelmingly agreed that coaches helped them reach their potential.
  • Build a support network. This won’t be hard, particularly, as the internet is working wonders in connecting people from various walks of life. Michelle Duval, Founder and CEO of F4S, recommends EO and YPO as good forums for entrepreneurs to check out.

8 — Arianna Huffington on failure:

  • Understand that failure is inevitable. In fact, a first-time entrepreneur’s chance of success is only 18%. But once you study the lessons you learn from a failed project, your odds of success increase to 20%.
  • Don’t be afraid of failing. Sure, it stings. I’ve spent the occasional night crying my eyes out with a tub of chocolate chip ice cream by my side. But a mindset change is a rescue operation from all the hurting. So, the best you can do is think of failure as a stepping stone to progress — an experiment you’re supposed to learn from.
  • Every time you falter, sit down to bawl (or scream or whatever your response is) but no longer than a day or two. Then, get back and make notes of what you learned so you don’t repeat those mistakes again.

9 — Jim Rohn on self education:

  • Take a page from Richard Branson’s book and challenge yourself. He shares, “My biggest motivation? Just to keep challenging myself. I see life almost like one long university education that I never had — every day I’m learning something new.”
  • Make it a habit to learn from podcasts, books, newsletters, and blogs. We’ve put them together in this list.
  • Set small learning goals so learning doesn’t become a chore.

Successful entrepreneurs: What does 20 years of research tell us?

  • Successful entrepreneurs are 30% more likely to think big and 40% more likely to take initiatives.
  • A successful entrepreneur is also likely to be motivated by money and ROI than an average worker.
  • Focus on excessive details and structure also tends to be vague, which is a motivation related to venture success.

How to get started as an entrepreneur? 8 simple steps

1. Find out how ‘in demand’ your idea is

2. Be ready to make money

3. Plan. But don’t overdo things here.

4. PAYG — Plan as you go.

5. Stop waiting. Start doing.

6. Think beyond your idea — think BIG!

7. Grow your support network and keep pushing.

8. Don’t be afraid of failing and keep learning.

Are you ready to step up and become a successful entrepreneur?

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