Connect with us

Entrepreneurs

8 Cardinal Rules To Become A Standout Entrepreneur

Published

on

Entrepreneurship is transforming lives as we speak. There are thousands of people mustering the courage to follow their dreams by becoming entrepreneurs – not all of them excel though.

The key to entrepreneurial success is more complicated than most people think. There are a lot of factors aiming to block an entrepreneur’s journey towards growth and success. It’s important that every entrepreneur follows a set of rules that help transform the way they do business.

Here are 8 cardinal rules to become a standout entrepreneur:

Rule #1 Enjoy yourself and never lose interest in what you do

Most entrepreneurs are fueled by a passion to achieve the impossible. This passion keeps them going from one challenge to another, ensuring they achieve success in whatever they do. Passion for a venture begins to die down when you get bored of what you are doing. It’s important that you keep the passion burning inside you. So go ahead and enjoy entrepreneurship and the challenges it offers you!

Certain unavoidable circumstances may see you losing all interest in your venture. In this scenario, it’s advisable to sell the company or hand over reins to somebody who can bring a fresh perspective to the venture.

“My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had — everyday I’m learning something new.” – Richard Branson

Rule #2 Be humble and willing to listen to what others have to say

Arrogant leaders haven’t gone too far in the business world. Don’t make the same mistake!

Humility is a trait well-appreciated in leaders. A humble entrepreneur will give a patient ear to insights from peers and employees. These insights carry hidden gems that can be put to use at work.

 

Rule #3 Love clients and employees as you would love yourself

A lot of entrepreneurs focus on keeping clients happy. They do everything at their disposal to make clients feel like kings. There is nothing wrong with this approach except for the fact that employees may end up feeling neglected.

You should maintain a delicate balance between employees and clients, keeping staff happy while retaining them for the long run.

 

Rule #4 Take the right risks at the right time

An entrepreneur cannot survive without taking risks. The most successful entrepreneurs are those who take bold risks that helped them create a revolutionary space for themselves in their industry. Bill Gates, Richard Branson and Steve Jobs come to mind.

A risk-taker can be successful only if he weighs pros and cons in an efficient manner. Quality attention to detail must be given in a quick manner to ensure that only the right risks are taken.

 

Rule #5 Never let failure cloud your thinking

Entrepreneurs launch their ventures hoping to excel in quick time. They never anticipate failure! This is a grossly wrong move. Have a backup plan and anticipate failure in a big way.

Remember this – it’s difficult to have things go our way all the time. A failure isn’t the end of the world. Bounce back doubly hard to take your business to unchartered territory!

 

Rule #6 Be visible and constantly showcase your potential as an expert in your domain

Embrace social media and other knowledge platforms where you can highlight your credentials as an industry expert. This will help increase your standing in the business community while gaining the trust of employees.

“Social media is not about the exploitation of technology, but service to community.” – Simon Mainwaring

Rule #7 Never under-estimate competition

Be wary of competition. Always.

A lot of business owners tend to get complacent after achieving success. This is a wrong move. Keep a steady momentum towards your business goals and keep an eagle’s eye on how competitors are performing.

Get inspired if they are ahead of you and work towards staying ahead if they are behind.

 

Rule #8 Become an expert organizer

It’s important to have organizing skills that help to rally your troops around you in times of adversity. Apart from employees, you should also be adept at organizing funds and other resources necessary for the daily affairs of your company.

Do you have any entrepreneurship rules that you successfully follow? How different are they from the ones mentioned in this article? Share your insights with me in the comment box below.

Neerav Mehta is CEO and Founder of SF Bay Area company Red Crackle. He leads a team of Drupal experts to build secure and competent technology solutions. Neerav loves writing technical and business articles in his free time.

Advertisement
4 Comments

4 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

Why Entrepreneurial Innovation Matters More Than Ever

Innovation and disruption are a key part of thought leadership online. But most online business owners today are blinded by tactics

Published

on

Image Credit: Unsplash

Innovation is a topic often discussed in software applications, app development, and the world of tech. However; you don’t hear it as much in the online business space, particularly among service providers. But innovation is the lifeblood of market leadership.  (more…)

Continue Reading

Entrepreneurs

How to Lose a Team in 10 Days: Are You a True Leader?

The dichotomy between good leadership and poor leadership is that you are either showing up for your people or expecting your people to show up for you.

Published

on

Image Credit: Unsplash

“If you don’t like working here, I’m not going to force any of you to stay. Put in your transfer or resignation papers and I will sign them today and you can go work someplace else.” (more…)

Continue Reading

Entrepreneurs

How You Can Start Networking in Style in 2023

By investing your time and effort in networking, you will gain more business through the relationships you make

Published

on

Image Credit: Unsplash

Are you completely new to networking?

Then this article is a great place to start. Networking isn’t hard on paper…you go along to online and in-person meetings, make new connections and build relationships, and those relationships lead to more work so you can grow your business! The challenge is that in reality, it isn’t quite so straightforward, as our emotions get involved and make things much tougher.

It’s incredibly common for nerves to creep in and to feel overwhelmed and apprehensive when it comes to networking – even when it isn’t new to you. But how can you become more successful at it, feel less self-conscious, and make networking work for you and your business?

Here’s a few tips to help you embrace every business networking opportunity you get, so you can grow your business and achieve your goals.

Rock up with confidence

If you want to keep those nerves at bay and ooze confidence at networking get-togethers, you’ll need to downplay it rather than seeing it as a big occasion. Try not to put pressure on yourself and see it as a casual meet-up with a bunch of people with similar goals to you. To help you relax in the run-up to the event, be sure to set achievable goals and expectations before you go.

Keep your chin up and your goals in mind – positivity is key. One easy goal for your first networking meeting is very simply to speak to one other person and see where the conversation goes. Introduce yourself and your business, but take the time to listen to their story, too. It’ll only take a few minutes and will be over before you know it, so it’s nothing to fear. You may even enjoy it and want to speak to a few more people, too!

“You can close more business in two months by becoming interested in other people than you can in two years by trying to get people interested in you.” – Dale Carnegie

Where to go networking

If you’ve never been networking before, it might not be very easy to find a group – but only because there’s so much choice and you don’t know where to start your search! Groups come in different sizes and styles, so it’s important to find one that suits you and your business. Informal, formal, big, small… the choice is yours.

For your first meeting, start small to ease yourself in – a big group could prove too daunting, and stop you from feeling comfortable enough to get involved. After all, you want to make a strong first impression!

If you’re wondering which group to opt for in the long-term, give a few a go! Get a feel for them, speak to as many people as you can, and see which one suits! You’ll know when a group feels right for you, and you can see where those all-important relationships are most likely to be built. If a group doesn’t feel like the right for you, give a different one a go.

Get more leads and referrals

This will happen for you, as long as you put the effort into building those relationships. If you take the time to get to know people, and then check in with them and support them, they’ll see you as a trustworthy and reliable contact who they can call on. And when they feel that way, those leads and referrals you’re looking for will come a-knocking.

Once you’ve made relationships with people who you trust, and they’ve had a positive experience working with you, you can even ask for referrals! But don’t rush this, as you don’t want to inadvertently push people away or try and force the relationship along too quickly.

When you do get an opportunity to work with someone you’ve met at a networking group, go above and beyond to offer more value than they’re expecting, as then, they’ll be much more likely recommend you and introduce you to more of their contacts!

Grow your business

By investing your time and effort in networking, you will gain more business through the relationships you make, and you will be able to grow your business.

We know that it’s not easy, going networking for the very first time. And that’s why we want to give you all the advice and tools that you need so you can walk in with confidence and make the most of the opportunity.

2023 is just around the corner, and you have the chance to make it the year you make networking work for your business. And the benefits could be incredibly amazing for your business, just like they have been for ours, and many business owners we have worked with over the years.

Continue Reading

Entrepreneurs

5 Keys to Building a Valuable Business

There are so many reasons to start a business. The freedom, the flexibility, and the control may be appealing.

Published

on

Image Credit: Unsplash

There are so many reasons to start a business. The freedom, the flexibility, and the control may be appealing. Or the chance to make money doing something you truly love and the ability to be your own boss and set your own hours.  (more…)

Continue Reading

Trending