Being an entrepreneur and making our headway, success ultimately translates into turning a business from rags to riches. This phenomenon doesn’t happen overnight like a movie scene and quintessentially requires, to pass through many impediments and obstacles by trial and error method coupled with an abundance of perseverance. To put it in the words of Steven Jobs who was an American business magnate, industrial designer, investor, and media proprietor. He was also the chairman, chief executive officer (CEO), and co-founder of Apple Inc.
“I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.”
Although this pure perseverance is very critical for the success of any business along with it there is also another component which can help become a successful entrepreneur. With the following success tip, one can navigate their way up to the top on the ladder of success.
Position yourself as a leader:
Entrepreneurship requires one to lead the way and position oneself as a leader who is ready to face any challenges and make its way through the maze of obstacles. It is supposedly not about having all the right answers for each problem which no can have, but about knowing where to find the right answers. In the capacity of an entrepreneur, we are bound to make a lot many tough decisions on a daily basis. So it’s prerequisite for assuming the leadership.
Deliver value — not just quick profit:
We should always try to deliver real value to our clients which are more customer-centric something what the consumers are looking for and expecting from the prominent brands in the market. In order to be a successful entrepreneur, we should acknowledge the fact that success doesn’t come easy and there are no shortcuts to success and hence we should strive to provide services and products That makes the life of consumers better and happier
Build long-term relationships:
Building and maintaining a long-term relationship is what matters the most in the business world. As people do not invest in the product but like to invest in the company and people of that organisation. Rather than being tempted to hunt for new customers, we should try to invest ourselves into the existing customer base as doing repeated business with them can be proved to be very profitable because it helps us to win their trust and loyalty. This not only helps us to expand our reach but also ensures our success in the long run.
Seek new ideas — especially beyond your industry:
As an entrepreneur, we should not only focus on ideas and innovation which are related to our industry but we should try and think out of the box and foray into unplumbed territories so as to expand our horizon. For instance, we can look at the drive-through concept which is usually found in the fast-food industry, it is surprising to know that the idea was borrowed from the bankers.
Know what your clients want:
The reason behind starting our business is to revolutionize or at the least try to change the lives of our consumers in a better way by offering them a great advantage and benefit from our product or service. But it is not as that simple as it sounds, to answer the how behind it, thorough research and study of their actions and talks must be carried out.
We can incorporate the following tips to attain our goal of becoming a successful entrepreneur. Along with this, we can also consider a great example set by Reza Satchu who is the President, Chief Executive Officer & Director at Alignvest Acquisition Corp, Managing Partner at Alignvest Management Corp. and Managing Partner at Alignvest Private Capital.
Reza Satchu who is also founder, former Co-Chair and Founding Chairman of Next Canada. Throughout his career, if we observe we will get this mantra to develop our business leadership.That the key to entrepreneurship is putting oneself in situations of discomfort, If we are comfortable, we need to move on. Look for maximum discomfort.”