Traits of a Successful Entrepreneur

To be a successful entrepreneur does not mean everything will be easy. You’ll have peaks but you may also face the valleys that challenge the long-term potential of a business. It is those lean and mean times that don’t allow most small business to make it to the 5-year mark.

As an entrepreneur of now 18 years, I can certainly attest to those dips in revenue and even those times when the future looked real dim. Over the years, I have been able to apply some basic tactics and strategies that have helped me navigate this journey of entrepreneurship.

I use the word believe as an acronym to remember 7 essential concepts for entrepreneurial success.

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Follow these 7 Steps to BELIEVE Your Way to Success

Step 1: “B” – Believe in Your Greatness

This simply means, way before you decide you are going to take the leap of faith into the entrepreneurial world, you’ll need to make sure that your beliefs about yourself and your business are in alignment.

You’ll have to develop thick skin. You need to make sure that you are comfortable swimming in an ocean of sharks or haters.

 

Step 2: “E “– Eliminate Self-Doubt

A major part of venturing out on your own is trusting the process and being able to move outside your comfort zone. It is easy for an individual to operate from the mindset of “employee” because he or she is depending on someone else for instruction and to take care of them financially.

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However, once you go out on your own and take on the title of business owner, you have to be mindful of the daily conversations you are having with yourself.

If you focus your energy into believing you will succeed and direct your effort into manifesting this belief, you will succeed. All because you first believed.

It also helps to surround yourself with positive people who support you and your efforts. Do away with the fear and the doubt as they just do not mix in the entrepreneur world.

Step 3: “L” – Live on Purpose

As you get more comfortable as an entrepreneur, you take on a mindset of a true business owner. You begin to see yourself as that successful person you set out to be.

Part of the shift in the mind occurs when you believe in yourself and the product or service you provide. You start to make intentional and deliberate choices with confidence and a sound mind.

You “show up” for success and it speaks for itself.

Step 4:  “I” – Invest in Yourself

One of the things that you must remember is that most businesses have competitors. Someone may take a look at your niche product and/or service and believe that they can do it better or offer something different.

With that said, it is important to stay diligent in investing in your business as well as yourself. You must always be in a constant state of personal and professional development.

 

Step 5 “E” – Expect Your Best Efforts

Part of being a successful entrepreneur is to make sure you hold yourself accountable to your personal and business goals that affect your long-term outcomes.

You should consider setting up a board, trusted advisors, or even mentors that you meet with on a regular basis.

You need a sounding board that will not only listen to you, but also be there to help hold you accountable.

These individuals should:

  • be familiar with your mission
  • understand your vision
  • be knowledgeable of the products and services you provide

It has been my experience that when you are too close to something, sometimes you may not see the problems or challenges that may exist.

You may also not be able to see if you yourself are the problem. This group of trusted advisors are there to help you see our way through these challenges and ultimately keep you accountable to your purpose.

Step 6: “V” – Value Yourself

As a business owner, it is always going to be important for you to recognize what your value is in the marketplace. This way you are able to leverage your brand and your marketing strategies.

If you do not know your value, you will not know how to price your product or service. You could very well be leaving money on the table.

Again, this is where an expert in this area would be good to work with along with some financial advisors to make sure that you are rock solid on where you stand.

Step 7: “E” – Enjoy Yourself

While this is the last letter in the strategy, it is certainly not the least. If you are not having fun then sometimes the challenges may not seem worth enduring.

I have found in my own business as a Professional Speaker, Coach, and Trainer, I have fun each and every day. I love and enjoy what I do so much that it does not feel like work.

Because I am doing what I believe in and know that it is my life’s purpose, I am always enjoying myself and having fun.

The lives that I impact and influence on a daily basis allow me to not only be a successful entrepreneur, but also a happy one.

So, as you take a look at where you are as an entrepreneur, I would suggest that you make sure that you have all of these tips in alignment with your business.

 

What inspires you to stay on the path towards success? Let us know!


  • Payz

    Thank you so much Nicholas for the information. Such kind of information from mentors like you inspires me to stay on the path towards success