Making decisions in the direction of your dreams requires some smart thinking, being open to continued learning, and owning your direction.
Here are 10 strategies that successful entrepreneurs employ as they take their passion and build it into a profitable business.
Own Your Vision – You are responsible for bringing your unique idea and long term vision to a reality. Be brave, be audacious, but importantly be clear on what that looks like.
Act Now – An idea that is not put into action is only a dream. By taking action, the idea takes flight. Act now to bring that unique idea into fruition.
Build – As a business owner and entrepreneur you’re tasked with building the business. Get strategic and build your models, build your resources, and build your capacity. Keep building and turn your creations into money making avenues.
Learn from Experience – Be open to spending time with the people around you, and learn from their experiences; both good and bad. Be inspired by those of influence, seek a mentor, listen to podcasts, and read broadly. Keep your mind sharp.
Perspiration and Persistence – Entrepreneurs require a good dose of perspiration and persistence. Some days will be easier than others. Some will be more challenging. Keep you eye on your vision, and put in the hard yards. The rewards will be worth it.
Define the Real Problem – Running a business can be so very rewarding. Conversely some days you may experience more problems and challenges. It’s vital that you accurately define the real problem and find a solution. There are times that confusion and overwhelm can come into play and the problem that is seemingly experienced may be perceived and not real. Know the difference and act accordingly.
Your Network is Your Net Worth – Social capital is the investment that you make in relationships. Build a network of personal and professional relationships with those who can inspire you, uplift you, introduce you to people of influence or industry leaders. Attend professional development events and courses to collaborate with those who share your interests and values.
Mistakes are Okay – Even with the most well thought out plan, mistakes will happen, and that is okay. Mistakes are an opportunity to learn, change, pivot and re-apply yourself. Importantly you need to own your mistakes. Be the bigger person, and do not play the blame game.
Delve into Data – Develop skills to become analytical. Delve into the data to better understand your impact, whether it’s financial data, social media data, or buying habits of your customers. Data will inform your future decision-making. Get into the habit of becoming friendly with data.
Hire with Purpose – As your business grows you will most likely require to employ people with certain abilities and qualities. Hire with purpose for the skill sets that you don’t have, or skills that are not a good use of your time. Outsourcing is an option as that will keep your overheads low, or if you need a right hand person, invest in securing a superstar you can truly rely on.