Growing a business does not happen overnight. It takes months, even years of hard work and patience to become a successful entrepreneur. There is no single road to success, but there are a few things you need to keep in mind if you want your business to be successful. Here are a few smart tips from experts that have been tested and proven to lead to success.
1. ADAPT. The right mindset when faced with unfamiliar challenges is to adapt to these challenges and approach uncertainty with confidence. Successful entrepreneurs take a dynamic approach to new challenges and use past situations that are similar to these challenges and use the strategies and skills that may apply. “Focus on the abilities you do have and apply your general knowledge to whatever comes your way,” says Matthew Della Porta, a positive psychologist and organizational consultant.
2. BELIEVE. Believe that your achievements are the fruits of your hard work, and not just mere luck. Take charge of what will happen to your business’ future. “That’s a result of self-efficacy,” Della Porta says, meaning that people who believe they’ve worked hard trust their ability to master new or unfamiliar skills. Entrepreneurs who are confident in their abilities are more likely to persevere and endure through tough challenges, increasing their chances of success
3. BE UNIQUE. Successful entrepreneurs rise from their individuality. You can admire great businessmen, but do not aspire to be the next Steve Jobs. You need to know what you are strong at and bank on your unique strengths.
4. BUILD A STRONG NETWORK. ”Find people you can learn from. What you may not need from them today, you may need tomorrow.” says Adam Nelson, owner of Good Nite Lite and Emerging Entrepreneur of 2011. Networking opens a door of opportunities. You get ideas, experiences, and honest feedback which you can use to improve your business. Adam uses feedback from his customers to continuously improve his product. He upgraded the packaging from a “very wasteful” throwaway box to one that can be used as a travel case or a stand so the light can be used on a dresser.
5. BE FIRM. Don’t be easily influenced by naysayers, advises Entrepreneur of 2011 award winner Lee Rhodes. Bankers and experts pushed Lee to start manufacturing her hand-blown glass candleholders in China to cut on production costs, but this experiment backfired. “We lost a fortune,” says Lee “I listened to people who didn’t understand Glassybaby. It’s all about the story and there was nowhere to fit ‘Made in China’ in my story.” Her business was about “truly handmade American craft” and making her products in China did not stay true to the essence of her business.
6. BLOCK NEGATIVITY. Successful businessmen’s greatest asset is optimism. They see past obstacles and constantly see opportunities. If you want to succeed, dump any negative beliefs that might be holding you back. “People have a tendency to self-handicap,” Della Porta says. Your belief becomes a self-fulfilling prophecy. So if you keep thinking that your business is not going to grow, then it probably won’t.
7. TAKE RISKS. ”Our personal motto is: ‘Fail cheap, fail quick,’” Adam says. “Don’t be afraid to try.” Adam first ventured into the business using the idea of retail first. But as he saw that his business was not growing, he attempted to reach out to his consumers by hiring a PR firm to write about his product and his website. Sales soared since then.
8. HIRE HELP. A business cannot grow from one person’s efforts alone. You need to get experts to help you execute your plans.”Remember as an entrepreneur, you’re probably a big-picture person and the details aren’t as important, but they will be and it’ll come back to haunt you,” Lee warns. “If you’re not good at [something], make sure you have someone beside you that is, as you grow.” You will need a team to help you execute your vision efficiently. And a growing business cannot rest on one person alone.
9. SHARE IDEAS. Do not hesitate to share your ideas as this will allow others to give you feedback that might be helpful in either maintaining or changing your plans. “There’s always the opportunity where they may not be able to help you, but somebody else will,” Adam says.
Be the next success story. Try practicing these few tips and see your business transform. Success does not rely on one great plan, but on a great leader. Be one and see your business soar.
