WHAT DOES IT TAKE TO BE A SUCCESSFUL ENTREPRENEUR
Capital, a solid plan, a viable market, sales strategy, great products, and exemplary service? Absolutely. While strong finances and operational processes – i.e. the “numbers” – are essential for any business, entrepreneurs also need tools and strategies that go beyond the numbers.
There are 5 factors that have little to do with the numbers, but can have just as great an impact on the success of a business. They’re the intangibles that drive and support the entrepreneurial passion.
1. Personality – Explore your aptitude and attitude; should you partner up or go it alone?
2. Responsibility – better know how to manage work-life balance; it can make or break you!
3. Goal Setting – You need a process. It’s not the daunting task you may think.
4. Values – a great product or service may not be enough. What’s the one core value you convey in everything you say and do? What you stand for and never compromise will directly impact your success!
5. Attitudes – they’re contagious; they inspire and energize -or- infect and contaminate. What are you and your team spreading?
To borrow a metaphor from the sports world, business finances and processes (the numbers) are analogous to speed, size, and natural ability. The factors above are more about the will to win, team chemistry, and work ethic. In other words, the intangibles that, in the sports world, often make the difference in winning or losing. These business intangibles can provide the winning edge for entrepreneurs.
More on the individual factors in future blogs.