Entrepreneurial success is created through the right mindset, behaviors, and habits. It is through these efforts entrepreneurs innovate, pivot, and excel in transforming the business landscape.
So what are the keys to being successful as an entrepreneur? How do you create the results that are seen in people like Elon Musk, Sara Blakely, David Heinemeier Hansson, or Elizabeth Homes?
While the road to success is not necessarily easy and there is not a per se book on how to do it, there is definitely a series of characteristics an entrepreneur can adopt to begin to build the mindset, behaviors, and habits necessary to create success for themselves, in their lives and their business. Each time execution is required to create results. The ability to operate using these six principles will increase the likelihood of entrepreneurial success.
1. Having the Ideal Beliefs
Entrepreneurial success starts with having the ideal beliefs. Understanding your purpose, defining the outcomes, having a mission, and vision are the foundation necessary for an entrepreneur.
2. Stay Focused
As an entrepreneur, there are a lot of things that you can be doing, and there are a lot of distractions that will waste your resources. It is important to stay focused on your goals to maximize your resources and remove distractions that are not in line with your ultimate outcomes. There will be many illusions that look like opportunities; the ability to cut through them and move around them will allow you to keep your focus.
3. Deal with Uncertainty
The only guarantee as an entrepreneur is that there will be uncertainty. The ability to take risks and step into the unknown is an intricate part of the anatomy of an entrepreneur. As Steve Jobs said:
4. Be Driven By Outcomes
This goes back to the adage of doing a lot of work versus doing what works. When you have a specific target and outcome, your actions, your motivation, your focus, and the use of your resources can be harnessed towards the specific outcome you desire. This allows for a very laser-like focus and voices a scattered and dissolved effort.
5. Find Internal Motivation
There are a lot of different things to be said about Internal Motivation. I believe these two quotes from unknown authors best sum it up:
“Entrepreneurship is staying loyal to what you said you were going to do, long after the fun is gone.”
6. Rinse and Repeat!
Business plans are important as they are based on business knowledge and the blueprint for business strategy. However, it is the execution that will make all the difference. Your ability to execute using these six steps will be the key to your success as an entrepreneur.