Sachin Bansal (Flipkart), Vijay Shekhar Sharma (Paytm), Shashank ND (Practo), Deepinder Goyal (Zomato), Kevin Systrom and Mike Krieger (Instagram), Jennifer Hyman and Jenny Fleiss (Rent The Runaway) – these are a few names which have made it big on their own in the world of entrepreneurship. How did they do it?
A lot goes into successful entrepreneurship – a wide variation of talent, knowledge on a range of subjects, a resilient attitude and a passionate drive to succeed. But along with that, you also need to be better than your competition and ensure you execute everything properly for optimal success.
Here are five strategies that every successful entrepreneur uses and you should implement them too.
- Working Long Hours
An entrepreneur has to be ready to put in long hours to ensure their business venture is a success. However, this means sweating it out in a productive manner. So, every task you take on as an entrepreneur, it is important that you give it your undivided attention. This will ensure that you meet all your timelines and give your business venture a timely boost on all fronts.
- Trusting Your Instincts
Most successful entrepreneurs believe in their gut feeling. So, if you feel something is not right, listen to yourself and then look to see how you can remedy it. There are times when your guts make better decisions than your head and heart. The real world is filled with variables and usually, gut instincts will guide you to wade through these variables.
- Making Your Goals Your Passion
If there is one thing that drives every entrepreneur through the roughest patches, then it is a fire within. This fire is nothing but a passion to accomplish their dreams. When you are filled with passion to achieve your goals, you will work unfaltering to achieve it. The passion will be the guiding light that ensures you never lose sight of your goal and do everything within your power to attain that goal, regardless of the obstacles that come your way.
- Using Your Team as a Crutch
Entrepreneurs cannot do everything alone. They require a team that complements their vision, skills and attitude. Before boarding a team, figure out your strengths and weakness. Then, hire people who overcome your weaknesses and make your strengths stronger.
- Valuing Your Integrity More Than Anything
Without being honest to yourself and others, you will not succeed as an entrepreneur. So, make sure you maintain your integrity against all odds while dealing with your team, clients and vendors. This will also set the culture of an organization, and how employees behave and work.
While no formal entrepreneurship training is required to launch your venture, you can get a strong foundation if you do. Fortunately, there are several online entrepreneurship courses available which will make it easier for you to grasp the fundamentals.