HOW TO BECOME A SUCCESSFUL

ENTREPRENUER  

BY RIKS AGAMIDA KOMO

(WEEKLY HOST)

During my research I found out that there are different ways of becoming a successful Entrepreneur and when you follow this few tips you will have to agree with me that been a successful entrepreneur does not only have to do with how much you have invested into the business or the good location of your companies. I was in a business meeting just the way we do it here in one of the universities in Shenyang as a person who loves business I asked a lot of question and I was so happy by the response given to me by some successful entrepreneurs who were presently at that meeting and at the end of the meeting I was so full of smiles because the knowledge I have just gained will help me far into the type of business I will want to go into later in life I will like to share some of this tips with you and will try my best to explain each and every one of them so we all can learn out of it and not make some mistake that will be costly when we venture into our various businesses in the near future

some people make the mistake of saying there are no difference between a businessman and an entrepreneur well after this lecture I hope you will understand that there is a lot difference between this two groups of people. Is there any difference between an entrepreneur and a business man. If yes how do they differ. I have seen this question being asked on the internet on multiple platform with no proper answers offered. So I referred to some business texts to find out how these two differ from one another. Those text says that an entrepreneur is being called so when he initiates, conceptualize and materialize a business process which is entirely unique. In other words an entrepreneur is someone who starts a business from a fresh idea and make it work.

A business man is some one who start a business on an existing or new market platform laid by the entrepreneurs. In this context it we can see that entrepreneurs weigh more than a business man. Being an entrepreneur is a difficult task. One will have to cut his own way through to find his market and get his brand or the product established. Outgoing attitude and a will to succeed in any difficult circumstances are the common traits one find in an entrepreneur.

Acceptance in conservative societies in Asian and few European markets is the major challenge faced by the entrepreneurs. In this case American market is considered the most liberal. This is the reason why we find emergence of entrepreneurs more in United States than in any other countries. But the explosive growth of multimedia communication and information technology has helped the ones who are aspiring to become entrepreneurs. Easy reach to the masses is one of the major contributions to business which information technology has provided for the business men. So here are some of the tips

Believe in yourself.

Being an entrepreneur is a lot more risky than the conventional job routine. There is no regular salary; you have to find customers on your own. Marketing your product/service and financing the project are also of concern. I noticed that most entrepreneurs use a combination of due diligence and gut instincts while evaluating their product/service. They are good at spotting a need in the market and then backing themselves up to believe that their idea can fill that void.

Hire the right people.

Most entrepreneurs highlighted this as the toughest aspect of building a business. Sanjay Bhargava, who co-founded PayPal, recommended entrepreneurs to bring in people who are really good at what they do and also to focus on ensuring the team members get along with each other.Some entrepreneurs confessed they made the initial mistake of hiring friends and people they liked, but soon realized that friends were not always the best employees.

Be money wise.

While some entrepreneurs went in for conventional sources of funding from a venture capitalist or banks, etc. quite a few started out with their savings or by borrowing money from friends and family. Most entrepreneurs said they focused on increasing efficiency and optimizing costs and overheads. One entrepreneur shared that he consciously stayed away from non-essentials like an extravagant office, equipment's, etc. The focus was on superior execution and high quality service.

Concentrate on the message.

"As a small business, most of our marketing is word-of-mouth. Our clients appreciate the kind of work we do and our reputation for delivering results," said Vidhanshu Bansal, founder of an information-technology company called Pixel Webtech.Most entrepreneurs said that in the early days, their tendency was to focus on sales activities and as they grew, they started looking at various marketing initiatives, as that is the cement that gels customers, vendors and employees together. Their strategy kept changing, depending on what worked -- direct mailers, e-mail marketing, presentations at seminars, etc.

Keep the team motivated.Do not indulge in fault-finding or blame games. That was a clear message from most entrepreneurs. Pigeonholing a particular member of the team may spread negative vibes within the team and cost you time and quality. Celebrating every small success and appreciating team members will build a sense of camaraderie.

Keep the team motivated.

Do not indulge in fault-finding or blame games. That was a clear message from most entrepreneurs. Pigeonholing a particular member of the team may spread negative vibes within the team and cost you time and quality. Celebrating every small success and appreciating team members will build a sense of camaraderie.

Make mistakes.

"If you are not a little bit scared, you are not driving fast enough," said Deepak, another entrepreneur. Most entrepreneurs agreed. Give your people the license to fail. It's ok to make a mistake as long as they are succeeding 9 out of 10 times, and making sure that they don't repeat those mistakes in the future.

Be passionate.

Most entrepreneurs accepted that the rewards of being an entrepreneur can be terrific but they were also of the opinion that there is no 'secret sauce.' There are a lot of magazines, self-help books and biographies of successful entrepreneurs that one can read, but at the end of the day, it's about execution. What you really need is to be passionate about your work.Believe me after I finish listening to this wonderful lecture all I had in mind was to become a successful entrepreneur and before I go I want to leave you with this little advice and one of the lessons I learnt that day …………………..

It's tempting to dream of a corner office, a pool table and  expensive chairs, but give it some time. Start small and start efficient. Being better is more important than being bigger.