achieved their goals. Having a mentor is an amazing blessing to an
entrepreneur, but not everyone can find one in person.
If you haven't yet found your personal business guru, here are 21 tips
for young or aspiring entrepreneur to help get you started.
1. Challenge yourself.
Richard Branson says his biggest motivation is to keep challenging
himself. He treats life like one long university education, where he
can learn more every day. You can too!
2. Do work you care about.
There's no doubt that running a business take a lot of time. Steve
Jobs noted that the only way to be satisfied in your life is to do
work that you truly believe in.
3. Take the risk.
We never know the outcome of our efforts unless we actually do it.
Jeff Bezos said it helped to know that he wouldn't regret failure, but
he would regret not trying.
Related: The 3 Key Elements to Make Your Business a Success
4. Believe in yourself.
As Henry Ford famously said, "Whether you think you can, or think you
can't, you're right." Believe that you can succeed, and you'll find
ways through different obstacles. If you don't, you'll just find
excuses.
5. Have a vision.
The founder and CEO of Tumblr, David Karp, notes that an entrepreneur
is someone who has a vision for something and a desire to create it.
Keep your vision clear at all times.
6. Find good people.
Who you're with is who you become. Reid Hoffman, co-founder of
LinkedIn, noted that the fastest way to change yourself is to hang out
with people who are already the way you want to be.
7. Face your fears.
Overcoming fear isn't easy, but it must be done. Arianna Huffington
once said that she found fearlessness was like a muscle -- the more
she exercised it, the stronger it became.
8. Take action.
The world is full of great ideas, but success only comes through
action. Walt Disney once said that the easiest way to get started is
to quit talking and start doing. That's true for your success as well.
9. Do the time.
No one succeeds immediately, and everyone was once a beginner. As
Steve Jobs wisely noted, "if you look closely, most overnight
successes took a long time." Don't be afraid to invest time in your
company.
10. Manage energy, not time.
Your energy limits what you can do with your time, so manage it wisely.
11. Build a great team.
No one succeeds in business alone, and those who try will lose to a
great team every time. Build your own great team to bolster your
success.
12. Hire character.
As you build your team, hire for character and values. You can always
train someone on skills, but you can't make someone's values fit your
company after the fact.
13. Plan for raising capital.
Richard Harroch, a venture capitalist, has this advice for upcoming
entrepreneurs: "It's almost always harder to raise capital than you
thought it would be, and it always takes longer. So plan for that."
14. Know your goals.
Ryan Allis, co-founder of iContact, pointed out that having the end in
mind every day ensures you're working toward it. Set goals and remind
yourself of them each day.
15. Learn from mistakes.
Many entrepreneurs point to mistakes as being their best teacher. When
you learn from your mistakes, you move closer to success -- even
though you initially failed.
16. Know your customer.
Dave Thomas, the founder of Wendy's, cited knowing your customer as
one of his three keys to success. Know those you serve better than
anyone else, and you'll be able to deliver the solutions they need.
17. Learn from complaints.
Bill Gates once said that your most unhappy customers are your
greatest source of learning. Let unhappy customers teach you where the
holes in your service are.
18. Ask for customers' input.
Assuming what customers want or need will never lead to success. You
must ask them directly, and then carefully listen to what they say.
19. Spend wisely.
When you spend money on your business, be careful to spend it wisely.
It's easy to spend too much on foolish things and run out of capital
too soon.
20. Understand your industry.
Tony Hsieh, the founder of Zappos, once said, "Don't play games you
don't understand, even if you see lots of other people making money
from them." Truly understanding your industry is key to having
success.
21. Deliver more than expected.
Google's Larry Page encourages entrepreneurs to deliver more than
customers expect. It's a great way to get noticed in your industry and
build a loyal following of advocates.
Being a successful entrepreneur takes a lot of work, a lot of vision
and a lot of perseverance. These 21 tips, from entrepreneurs who have
already found success, will help you navigate the path much more
easily.
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