While many do believe that success is about doing the right thing at the right time, the rule doesn’t really apply in these modern times. In today’s fast-paced world where an idea you are working on has already begun rolling out in some other part of the world, waiting for the right time is foolish. Success if much more than about waiting for the right moment or even doing the right thing even! Don’t believe me? Then go ahead and think of a successful entrepreneur you know of. Now head over to Google and read about their history. Did they get everything right in the first go? I guess not. The thing about success is that to become an overnight success, you gotta fail hundreds of times. Coming to entrepreneurs and startups, there will be many who will say that idea is the king. If you have a killer idea there is nothing that can stop you from it being a success. To tell you the sad truth, it never is about the idea and always about the execution of it.
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Ideas are easy. It’s the execution of ideas that really separates the sheep from the goats. – Sue Grafton
Killer ideas might give you an edge over the strugglers but it still is all about how you execute.
In terms of being called a true entrepreneur, it is almost a prerequisite that you have failed at something or the other. That and a few other traits are something that is commonly found in successful entrepreneurs.
- You care about what you are building and why you are building it
It is hugely important that you consider your startup your own child. Do not work on an idea because it appears profitable. Do not work on an idea if you think people might like to use it. Work on an idea because it is something that you want to exist and because you believe it will add value to people’s life. It is absolutely necessary to inculcate this trait if you lack it. Sure, building a product that no one wants to use will be stupid but if you know your product is of value and is solving a pain that many people locally or globally face, build it with 200% effort and with no fallback options planned. An entrepreneur should always be all in. Passion should be the driving force!
- Fall seven times, stand up eight.
Failure is a part of life. For an entrepreneur and a successful one at that, it is a larger part of life than most people imagine. An entrepreneur struggles and learns valuable lessons while on his path to becoming successful. If you are someone who fails and gives up, entrepreneurship is not for you. Being an entrepreneur is all about that never say die attitude.
Try and try till you succeed.
It is all about never giving up. If you do not believe in the above quote, you might as well quit today rather than wait for the failure to arrive.
- Execute like a champ
Success doesn’t necessarily come from breakthrough innovation but from flawless execution. A great strategy alone won’t win a game or a battle; the win comes from basic blocking and tackling.
It is all about the execution. In the past, there have been many startups which had a killer idea, were well funded and yet couldn’t succeed. The reason? Bad execution. It is important to have a clear idea about what you want to achieve and how you want to reach there. The time lines, the milestones should be mapped in your mind as soon as you begin. There have been so many examples where copycat of ideas has done so well. They didn’t have an original idea but they did have a killer execution that made them able to compete.
ALSO READ: Mistakes that kill startups
- Taking risks shouldn’t scare you
If you are an entrepreneur, there will come a certain moment when you have to take the risk to either take your business up a notch or maybe even just to survive. The all-in attitude and the risk taking capability are things you should never fear. If you like to play it safe, being an entrepreneur isn’t your cup of tea and you may as well not quit the job you think you should.
Life is either a daring adventure or nothing at all.
It is all about daring and taking the risk. ‘Playing it safe’ might as well put you out of business in the long run.
Take Risks. If you win, you are happy. If you lose, you are wise!
- Hunger for knowledge
Being an entrepreneur is as much about learning something new every day as much it is about taking a risk. To be able to innovate, you gotta have the knowledge of the domain you are looking to enter. To have the knowledge you need to have the hunger to learn something new. If you are not hungry to learn new things, you will not be hungry to try new things. If you do not try new things, your company will eventually become stale.
Knowledge is like a garden; if it is not cultivated, it cannot be harvested
Hence, if you want to be a successful entrepreneur, alway be hungry to learn new things, explore new things and keep innovating!