I have been asked countless times in interviews “what makes a business and entrepreneur successful”. There are so many ways someone could give advice on what is the ‘right way’ to run your business. There is such a huge variety of strategies out there that could work for any one person but what I have learnt through my experience, is to focus on one. For me, it was trial and error, and through my mistakes, I learnt some lessons that helped me shape my strategy for myself and my clients.
Factors that go into entrepreneurship
Being an entrepreneur is almost like being an artist; you cannot be good at just drawing a line, you need to be good at creating the entire picture. I think that you have to excel at a variety of different things to be a successful entrepreneur. To me, an entrepreneur is someone creative, they have ideas, they are someone who can see opportunities (sometimes even before they arise). It also has to be someone who has a lot of stamina and grit, because you are going to get a lot of doors slammed in your face all the time and you need to have the resilience and strength to be able to brush it off. Last but not least, an entrepreneur is someone who is financially literate… because that is the difference between having a hobby and a business.
Perspective on Passion
Passion is key to move forward in my opinion, however, it is not necessary to be successful. You can be a businessman and have a good opportunity and work with it, but not be passionate about it, and still be successful. However, I personally cannot run that way. I need to love and adore what I am doing because that’s what creates the drive for me. My passion is what pushes me forward and helps me really get what I want. If it doesn’t come from my heart, I find it hard to believe in and work with it.
A very important lesson I learnt was about being a risk-taker. It can be a very good thing until you take too many risks… I personally am one, but what I learnt through my experience is that:
It is important to take risks, but it's important to take calculated risks.
This is where I made a lot of mistakes in the past where I would jump into something with the belief of saying yes and then figure it out, which ended up teaching me some very expensive lessons…Fortunately, I am surrounded by a great team of people who balance me out well when I have the impulse to take an uncalculated risk.
Another very important lesson I learnt was:
Don’t get attached to the results.
It is one of the best things you can be conscious and aware of. When there is an opportunity for me, I will go in and do everything I can to make it work knowing that everything I do is a test. Because the moment I get attached to the result of the outcome, that is the moment I lose sight of what other opportunities I might have or what else could work, which is how you can miss out on good business. So, I treat everything like a test, which is how I cope with things. Some work and some don’t, but it doesn’t faze me anymore. I am looking at what worked instead of focusing on what didn’t. Perspective is everything, the way you look at it really matters.
As I mentioned in the beginning, there are many different strategies and approaches to business. It really is a matter of trial and error. Take your risks and follow your leads, just think about it thoroughly first. Don’t be impulsive. Just keep adjusting your perspective and do not get attached to the outcome. You never know what opportunities are waiting for you around the corner.