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How to Become an Entrepreneur: 5 Steps to Success

How to Become an Entrepreneur: 5 Steps to Success
How to Become an Entrepreneur: 5 Steps to Success

Before we know more about How to become an entrepreneur , let’s know more about Entrepreneur , they are pioneers, innovators, leaders and inventors.

 What is Entrepreneurship ?

Entrepreneurship is the willingness to take risks and develop, organize and manage a business venture in a competitive global marketplace that is constantly evolving.

Let’s talk about 5 steps to success 

Read also : How to start business with little or no capital

#STEP -1   Evaluate your skills

Below are Top Eight  skills every successful entrepreneur has in common

#1 Resiliency – The ability to weather the ups and downs of any business since it never goes exactly the way the business plan described it. This skill enables the entrepreneur to keep going when the outlook is bleak.

#2 Focus – After setting a long term vision, knowing how to “laser focus” on the very next step to get closer to the ultimate goal. There are so many distracting forces when trying to build a business that this skill is not easy to master.

#3 Invest for the long-term – Most entrepreneurs are not patient and focus only on what comes next, rather than where the company needs to go. Overnight success may take 7 to 10 years. Entrepreneurs need to stop, pause and plan on a quarterly basis.

#4 Find and manage people – Only by learning to leverage employees, vendors and other resources will an entrepreneur build a scalable company. They need to learn to network to meet the right people. Entrepreneurs strive to guarantee they will get honest and timely feedback from all these sources.

#5 Sell – Every entrepreneur is a sales person whether they want to be or not. They are either selling their ideas, products or services to customers, investors or employees. They work to be there when customers are ready to buy. Alternately, they know how to let go and move on when they are not.

#6 Learn – Successful entrepreneurs realize they don’t know everything and the market is constantly changing. They stay up to date on new systems, technology, and industry trends

#7 Self-reflection – Allow downtime to reflect on the past and plan for the future. Always working only leads to burnout physically and emotionally.

#8 Self-reliance – While there is a lot of help for the entrepreneur, in the end, they need to be resourceful enough to depend on themselves.

Read also : Top 50 business opportunities

#Step – 2  Find a mentor to guide yourself

Regardless of whether you’re studying to become an entrepreneur, it’s crucial to seek out the wisdom of those who have been there before. One way to do this is by turning to a professional mentor to guide you through the early stages of your startup and provide valuable feedback on your business strategies and issues.

“Sometimes, simply being reassured from someone who has already been there that those moments of utter insanity are completely normal and not unique to the person experiencing them can be the difference between a breakdown and a learning opportunity And that’s a big difference.

Bottom line:”A good mentor is the best insurance policy to protect your investment as well as your mental health.” entrepreneur can find a mentor through sites like SCORE.org.

Read also : Best business to start with no money

#step – 3  Building Good habits

there’s a set of important habits that aspiring business owners should cultivate, called “the 5 P’ s

[ perception,  provocation,  possibilities, practicality and persuasion. ]

Perception is crucial because good entrepreneurs must learn to perceive more opportunities by connecting seemingly disparate things. Provocation is about considering those opportunities and not automatically dismissing them. Realizing the possibilities is important in order to avoid jumping to the obvious solution and instead experiment with other ideas, to see what works. Once those possibilities are considered, identify the best,practical solution, and focus on what you need to do to make that happen , persuade your customers with a good story and pitch.

#step – 4 Learn to Listen 

one of the most important lessons a business owner can learn is how to listen to customers. A lack of customers, rather than the failure of a product or technological development, is often the reason startups suffer, and knowing what your target market wants is key to avoiding this pitfall.

 

#Step -5  Finding  the right resources and direction 

Resources range from formal business courses and networking programs to seminars and websites offering guidance for business owners. It’s a matter of finding the learning style and setting that work best for you,”Once people make the decision to be entrepreneurs, there are plenty of ways to learn how to be better”

see also : 

I hope you guys get success after using this 5 Success mantra 🙂 

Sharing is Caring 🙂 

 

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About the author

Dhruval Patel

Entrepreneur | Kind | Made Love With INDIA | White Hat Hacker .

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