Being an entrepreneur

Being an entrepreneur is believed to be a luxurious and wealthy lifestyle, full of all the facilities which one could probably dream about. On a daily basis we come across, articles, news or information regarding the successful entrepreneurs. Although entrepreneurship seems a very easy task, but actually the reality is exactly the opposite. Those charismatic suits, luxury cars, big villas and the bank balance figures looking like a mobile number takes a lot to become such a wealthy one.

The lifestyle of an entrepreneur, indeed seems like a very appealing one, but it takes a lot of sweat, dedication, determination and most important of all patience. It’s not a child’s play to become an entrepreneur. But on the contrary, it is also not impossible to become one. With the right vision, mindset and goals set, it could be well accomplished. One has to believe in himself and in his ideas. The passion in what you are doing only comes when you believe in your idea. Without passion, the journey to become a successful entrepreneur is seldom possible.

Growth determining elements

You must have seen many business ideas flunking. This might make you think that “what is the key to success in order to become a successful entrepreneur and what differentiates the successful entrepreneurs from foiled ones?” Most important element of becoming a successful entrepreneur is patience. Nothing could be achieved overnight. Success is not a destination, rather it is a journey, a process of progressing with each passing day. There’s a very famous saying “Rome wasn’t built in a day”. This saying indeed portrays the reality of this journey. Success is like building a house by putting each brick very carefully. You’ve to be very open minded and a sharp observer to analyze the business opportunities, which could benefit and strengthen up your business plan. Overnight success is never overnight. It takes tough times, sleepless nights and a high patience level to reach achieve success.

Failures are the stepping stones to success. Failures either make you or break you. It entirely depends upon your mindset. Don’t be afraid of failures because it couldn’t change you if it couldn’t break you. Henri Nyakarundi, the founder of African Renewable Energy Distributor, Rwanda, says “Rejection will be part of the day-to-day business for a while, but as long as you keep pushing and adapting to your marketplace, doors will finally open up. Business might be different in substance, but the tools needed to succeed are always the same. The No. 1 reason why people fail is because they quit, and we all know quitters never win.” Mark the golden words said by Henri Nyakarundi as it clearly explains the importance of learning from our failures.

Being open minded and a sharp observer is one of the most significant traits of a successful entrepreneur. Osse Greca Sinare, founder of OGS Studios, Tanzania, says “When you are just starting out, be free to focus on different styles without the fear of failing holding you back. It is better to follow your passion and enjoy every aspect of it to improve your skills, instead of just focusing on doing it for the money. It takes a lot of practice and a lot of trial and error to become a great photographer.”

Very often the business ideas fail because of lack of proper guidance. Don’t worry about help. There are many successful people who have already done it. Don’t be shy of asking for help. There would always be an endless number of sources from where you could seek help. The internet is one of the biggest sources of knowledge and information, which would be one of the greatest tools to fetch help from. Getting in touch with the industry experts would prove to be a great source of help because it would not only provide you the perfect guidance, but would also get a lot to learn through their experiences.

The zeal to initiate should never be procrastinated. You should be quick enough to execute your ideas and learn new things. Abraham Lincoln once said that “good things come to those who wait, but only things left by those who hustle”. To become a successful entrepreneur, you would have to get addicted to an active and hectic lifestyle. You would have to be quick in decision making so that you don’t lose a very rewarding opportunity to your competitor Another important aspect of being a successful entrepreneur is consistently updating knowledge. You have to consistently upgrade your knowledge by studying the market condition and trends, doing research and development. You would need constant education and training all the time to sustain in the industry. The new business ideas would only spring up after having a complete knowledge about the recent industry trends and happenings.

Since our childhood we have been taught that the company matters a lot. The company of a good person would motivate you and drive enthusiasm in you to perform and deliver better, whereas company of a bad and a negative person would influence your mind in a negative manner and would hinder your growth. Surround yourself with successful people, meet successful entrepreneurs and learn from them. You would surely get the motivation to perform better.

Being disciplined is the key to become a successful entrepreneur. Successful people lead disciplined lifestyle. There is always a schedule designed for the next day or for next week or maybe for the next whole month. Set your priorities and plan things in advance and you’re already halfway through. When it comes to fetch success, you should always know your priorities. Prioritizing things would not only save time, but would also make you a growth oriented person.

The desire for more should always be there. There should be a hunger to grow constantly. The more you would crave for growth, the more hard work and efforts you would put in and ultimately success would definitely knock at your door. Room for improvement should always be there. Improvement multiplies your chances to grow. A person should also be willing and brave enough to take risks. Although in the African countries, where the clouds of uncertainty are always floating over your head, you would see a good number of successful entrepreneurs who took a risk bravely and now they are reaping its fruits. Some of the most successful entrepreneurs have seen opportunities in ventures that others deem too risky.

They see solutions to problems and are often innovators. “Entrepreneurs take risks and entrepreneurs see opportunities where others see chaos”, says South African Fred Robertson, executive chairman of Brimstone Investment Corporation.

The biggest obstacle in starting up a new start up is the sufficient funding. Though it has become easy to get loans from banks and funds from the private investors, but a successful businessman always knows his limits and capacities. One should never borrow more than one could conveniently repay. It has been recorded to be one of the biggest cause of the downfall of businesses.

The most important part of being a successful entrepreneur is sustaining the success that you’ve got. Very often business ideas collapse after reaching great heights. Sustaining in the industry requires continuous market studies, framing strategies to compete with your competitors. It is said that sustaining is very often more difficult than achieving success. Being an entrepreneur is a never ending process. It’s an endless journey, which would provide you many beautiful stops if you travel with all your enthusiasm, hard work and passion.