From a successful businessman’s point of view, the real return on investment of a company does not appear in the balance sheet but from the entrepreneurs themselves. It has been widely observed that a successful entrepreneur does not require a huge reservoir of capital or any expertise in an area of study. However, if you have both, we have listed some take away points from entrepreneurs around the world that comes as a pre-requisite to invoke the hidden entrepreneur in any one.
Being the Jack of many trades is a good thing, but being the master of that one essential skill is an absolute necessity. Mastery over Marketing Innovations is one of them. Listening, observing and finding new opportunities even in times of crisis are the best way to stay ahead in the competition. They need to consistently evolve and tweak their business concepts in response to the market feedback. For this, being with the right people for the right advice is essential. Prior to researching over any material it is very essential that a thorough research is conducted on the source itself.
One important skill that is advocated for any business is the ability to Manage Risks. This means manipulating the amygdala in our brain to come out of the comfort zone and take the leap of faith. Our ability to take action at the right time is hampered due to our fear of failure. That is why many of the successful entrepreneurs are termed as bold revolutionaries.
Like in a marriage, commitment is essential to get through the tough times. Disciplining the functioning of the business model in order to make sure that it caters to the customer’s needs and the demands of the business, will not only ensure constant inflow of customers and revenue, but also helps to retain them. The motive of any business process is customer creation and not company creation.
However, for all the above to work, passion is the most essential factor. It leads to the ever necessary commitment towards the whole Business process. The winning formula is to entail affection, passion and discipline which would fuel the much required determination and dedication. With passion, every endeavor, failed or successful, is measured in terms of time and energy. Where many lose hope and the entire process loses steam, passionate people keep on chugging along with the ultimate focus on the solution to the problem. Profit is the bi-product. The desired bi-product comes through discipline.
Entrepreneurs are always mobile. They have a strong sense of adaptability. They are well balanced with their conscious and unconscious thoughts. They are bold, swift and understand the fine difference between need and desire. Successful entrepreneurs move mountains and then strive to be the next unconquerable mountain themselves.