They feel that such a thing is too difficult for them. However, others do try. Well, launching a business is not easy. You will definitely face many obstacles, downfalls, and disappointments. Many startups fail, and the entrepreneurs sit in a pit of self-defeat, never trying again. But still, you don't have to give up. If you're wondering how to become a successful entrepreneur, you might want to scratch out some motivation here.
Believe that you can make it
What is the most important thing in becoming successful? Before the initial capital, a good idea, and a clear plan comes the realization that you can do it. Many of us don't believe they can earn a million or even become successful. Without believing, we don't aspire. However, you must realize that a million dollars is not something unbelievable. According to statistics, millionaires are not just big entrepreneurs. They are also representatives of the most ordinary professions like us. So find courage, set yourself a clear goal, and go to it.
Find your thing
For a successful endeavor, you have to look for something real. After you ask yourself how to start a business, you will want to study the market and forecasts. Then you start making a product that is supposed to be profitable. Think about what new things you could bring to the world to make your life and the lives of those around you easier. Perhaps you have a sweet tooth and can’t help eating an extra candy bar or two. Great, then think about creating harmless sugar-free candy made from natural products that people with the same problem can buy! Find more inspiration for your endeavors in our Zero to One book summary.
Create and sell
Think about where to get the money from. Apart from the most popular technique (borrowing money), you can use something less risky. Create a product so that you can then develop on the earnings. Take into account that it will not be an easy path, because you will be moving in smaller steps. Still, you should not relax after creating a product. Now your task is to market it. Marketing and advertising can either save you or ruin you because you can waste a lot of money. Learn how to communicate with your audience, get feedback, and respond to it. Create good products and sell them through good advertising. Make a deal with yourself to turn 12 months to 1 million. Then work hard to fulfill it!
Stay positive!
Why do some people become rich and others don't? It's not because of their luck, as many might think. Behind everything is the ability to think positively and keep going. Everyone makes mistakes: rockets often fail to take off into space, and even the biggest businesses fail. Think positively and always look only forward. Then your thoughts will materialize and you will come to success! It’s one of the million dollars habits that definitely will lead you to success (If you want to learn more about this, check out our summary of the book Million dollar habits. Learn from your mistakes instead of giving up on everything. After all, most successful people have fallen down at some point.
Accumulate experience, not just paper
There are no magic courses that can immediately turn you into a good leader. It may seem like an MBA is a good option because once you get a degree, you can be considered a full-fledged executive candidate. But marketing, finance, and consulting programs still won't cover many aspects that only come with personal experience. You can spend huge sums of money on an MBA and still remain a nobody. Start working because that's the only way you can gain truly valuable skills. More about investing in your experience in our summary of the book The Personal MBA.
Provide wise customer service
The understanding of customer service has long gone beyond polite consultants and the ability to return a product when it breaks. Today, you have to create something new and exciting constantly. Themed gifts in addition to purchases, exchanging old appliances for new ones — the list goes on. When getting feedback from your customers, you should understand what they need and give it to them. You can also anticipate what your customers need by giving them something they didn't ask for (no one knew you could take pictures on your phone until the first phone with a built-in camera came out).
Increase the trust of your customers
What is the difference between advertising and PR? Advertising sells the product, while PR sells the seller. Big companies care about their image because it is what makes them so successful. Apart from the lofty things like showing concern for the environment or helping homeless shelters, you can start building trust with something simple. Offer your potential customers free product samples, for example. However, realize that no one-size-fits-all strategy will work for all cases. If you are chasing greatness in your business, hire the best people to sell your product in the best way possible.
So, how to become a successful entrepreneur? First, deal with your biggest enemy: yourself. Our psychological framework is what stops us like no other. Negative thinking, a tendency to have low self-esteem, and a lack of a broad worldview will lead you into a pit of disappointment. On the contrary, you should say, "I can handle it." Once you believe in yourself, you will open your eyes and see all the possibilities in front of you.
It all starts with an idea. Remember to stay yourself and listen to your inner voice. You can analyze the market, but no one prevents you from entering it with something unexpected and unique. Next comes capital. The choice between borrowing money or the earn-invest principle is up to you. This is where it can be really hard for you, but don't stop. Finally, having created a product, you must learn how to sell it. This stage is one of the hardest but the most intriguing. If you want a step-by-step guide on launching a business, read the summary of The E-Myth Revisited for practical advice.
