Secrets of Successful Entrepreneurs
Do you have what it takes to make your business idea work? Learn from some of the secrets of successful entrepreneurs:
Entrepreneurs are born
Strange as it may seem, studies show that birth order does tend to give rise to entrepreneurial traits. First-borns tend to be entrepreneurs more than middle and youngest children, perhaps because their tendency is to lead the younger siblings and so this hones their leadership abilities.
But the only child can be even more entrepreneurial. Perhaps this is because solo children are used to having their way and getting what they want. In fact, some of the most successful names in the tech industry, such as Bill Gates and Steve Jobs, were solo children.
This does not mean that middle and younger children do not have entrepreneurial capabilities. In fact, a number of successful entrepreneurs were neither first-borns nor only children. But this does point to the importance of entrepreneurs being used to getting what they want in order to accomplish what they set out to do.
Regardless of your birth order, what all this means is that a history of getting what you want may be an important asset for successful entrepreneurs!
Having entrepreneurs in the family tree also helps. It seems that early exposure to entrepreneurs builds confidence in the aspiring entrepreneur, to the point that starting a business no longer seems like the unfathomable challenge that it may seem to be to many people.
Entrepreneurs are restless
Successful entrepreneurs are not content with having a stable job or a flourishing career. Something drives them to go beyond the path taken by ordinary people. Usually it involves a burning desire to prove something to other people, or perhaps even to change the world or to make a name for themselves. Whatever it is, entrepreneurs are driven to try paths not normally taken by the average person.
Entrepreneurs take calculated risks
The romantic image of the entrepreneur involves someone who throws all caution to the wind in pursuit of his or her dream, regardless of risk to assets and reputation.
The truth is, however, that successful entrepreneurs take calculated risks. They rarely jump into any business without knowing what the consequences are or what the environment is. In fact, most successful entrepreneurs tend to jump into businesses that they already know something about. If an entrepreneur had parents who ran a food business, then chances are that the entrepreneur will also venture into a food-related business. For instance, French Baker entrepreneur John Lu Koa comes from a family that hails from the baking industry.
Others do detailed studies of potential business ventures. The founder of global delivery pioneer Federal Express, for instance, pursued the business based on an in-depth dissertation that he wrote about cargo deliveries.
The bottom line is that successful entrepreneurs do not just jump into something that they know nothing about. Because they know better than to risk their hard-earned resources into something of great uncertainty!
Entrepreneurs are sales people
This does not mean that you have to be a salesman literally. But successful entrepreneurs tend to be passionate about their ideas, and it is their passion that allows them to convince a network of investors, partners, and professionals o join them in their cause and put together a working organization!
Successful entrepreneurs have an ability to convince people and to pitch their ideas with fervor. The great advantage that this ability brings is that the entrepreneur need not be rich in order to start a business. Rather, the successful entrepreneur is able to mobilize partners to invest in his or her idea and to provide the resources that he or she cannot otherwise have.
These are some of the factors that led entrepreneurs to success. How many of these do you have in you?