Keys to Entrepreneurial Success

Nothing attracts people quite like the prospect of success. From Aristotle’s Nicomachean Ethics to Confucius’ philosophical system, excellence and success has for millennia been posited as one of the foundations of a great society. Today, we take that basic reverence for success in society and apply it to the world of business. If you’re an aspiring entrepreneur, success is the name of the game.

Of course, success is easier said than done. Countless entrepreneurial figures aspire to the top, but only a select few ever even glimpse the summit. Let’s take a look at some of the tips and tricks you’ll want to heed to have a chance at getting there.

Know What You’re Getting Into

Who wouldn’t choose to be their own boss if they could? A big part of the allure of being an entrepreneur is the idea of having freedom and control in your work day. However, the idea of the free-spirited playboy entrepreneur is largely fiction. Being an entrepreneur means long hours, board meetings, and lots of expectations. It can be hugely inspiring, invigorating, and yes, even a little bit liberating—but only if you know what you’re getting into from the start.

Bigger Than Yourself

That being said, you have to recognize that this enterprise is bigger than you. It’s bigger than any one person. It’s a big idea and will take commitment and comradeship from everyone involved. Having an understanding about that from the start between yourself and your team is key to ensuring success for you all.

Give the People What They Want (or Not)

The old standby in the news industry is to “give the people what they want.” Whether or not that’s a good news ethos, it’s definitely a double-edged sword for entrepreneurs. On the one hand, you always want to respond to market demands. On the other hand, sometimes people don’t know what they want until they see it in your product.

Armed with these keys to entrepreneurial success, you’ll be able to mold your company’s approach appropriately.

What's Motivating You to Become an Entrepreneur?

It is no secret that being an entrepreneur can be glamorous, enriching, exhausting, and terrifying all at once. Striving to be an entrepreneur is a goal which is all too clear and yet incredibly hazy at the same time. On the one hand, you know what an entrepreneur is “supposed” to look like—the Mark Zuckerbergs and Elon Musks and Steve Jobs of the world. On the other hand, the world of entrepreneurship isn’t always what it appears—look no further than Elizabeth Holmes and the Theranos scam.

As with any profession, it’s worth asking what motivates you to achieve that goal. After all, being an entrepreneur is something that takes a lot of commitment on a daily basis. You are the driving engine and imagination behind your business ideas, and you are tasked with being a self-starter and motivator—so what motivates you?

The Money

Let’s be real—one of the big draws for striving to become an entrepreneur is the money. We’re supposed to say and think it’s about other things, and for you to succeed, it has to be about more than money. Even so, few things motivate people to get up early and work late like the prospect of a big payday down the line.

The Fame

There’s definitely a certain allure that comes with being a household name. Who wouldn’t want to be celebrated for their genius? No one wants to admit to being a glory hound, but there’s definitely no shame in seeking entrepreneurial fame.

The Power

Bruce Wayne and Tony Stark are easily two of the most popular film heroes of this era. Both are billionaires who can become their superhero alter egos Batman and Iron Man in part because of the power and resources made available to them by being entrepreneurs. Batmobiles and Arc Reactors don’t pay for themselves, after all. Superheroes are power fantasies, and in a way, so are entrepreneurs.

The Passion

Finally, there’s passion. All of these other motivating factors are great, but without the passion for your position, product, company, and idea, you won’t get very far as an entrepreneur. Even if you don’t have all the fame, money, or power, you can still be a great entrepreneur if you have passion.

Tips for Young Aspiring Entrepreneurs

To say that the world of business has been seeing some changing of the guard of late is an understatement. The past couple of decades has seen a tech book, unlike anything else in modern history. One of the distinguishing features of the online revolution led by platforms and apps such as Facebook, Twitter, Uber, and Google is the fact that the CEOs and driving forces behind these giants are all young.

More than ever, our most brilliant aspiring entrepreneurs are some of our youngest businesspeople. Entrepreneurs in their 20s and 30s are changing the game. If you’re a budding entrepreneur looking to follow in the footsteps of Mark Zuckerberg and the guys behind YouTube, you’ll want to follow these tips.

There’s No Such Thing as Too Young

One thing to keep in mind is that it’s never too early to get started. As stated, many of our leading entrepreneurs today are in their 20s and 30s. 

Play to Your Strengths

This is true for all entrepreneurs, and it’s especially true for young entrants. When you are young, it can be understandably hard to market yourself based on an extensive resumé. Instead, you’ll want to promote tangible in-demand skills. Being able to speak another language, having technical, computer, or app-creating skills, or other strengths which you can use to set yourself apart and build your career.

Seek Expert Help

Don’t be overly proud and assume you know and can do everything by yourself. Even the Mark Zuckerbergs of the world can’t do it alone. That’s why it is vital that you get expert help on board to shore up any weaknesses or blind spots you may have. 

Embody Values

If you have worked for a boss you didn’t care for before, you’ll want to avoid making their mistakes. Be sure to preach what you teach and follow through on acting upon and embodying the values you want to see present among the workforce in your company.

With these tips, you’ll be a few steps closer to being able to put your entrepreneurial plans into action.