Want to be a successful entrepreneur? Here are 5 qualities that you must have
Entrepreneur is tempting but tough at the same time. The way India's startup scene is booming, everyone wants to have a piece of the cake. But, more often than not, people end up facing failures than success.
Entrepreneur is tempting but tough at the same time. The way India's startup scene is booming, everyone wants to have a piece of the cake. But, more often than not, people end up facing failures than success. Naman, founder of Refrens.com, a business networking platform Freelancers and service providers, believes that you need to keep in mind few factors to ensure that you are a succesful entrepreneur. These include focusing on things at hand and strong self belief while being open to ideas. Here are 5 factors that help me stay put on the path of entrepreneurship, according to Naman -
Focus - Focus requires saying NO to a lot of things. Your focus will be tested in hiring product roadmap, choice of investors. Even in your personal life you will need to be disciplined and say NO to a lot of things that don’t align with your goals.
Understanding A Popular Worldview - While you are generally a misfit into anything, it is important to understand the popular worldview around the market that you are targeting. If you most people like a particular artist, but your platform is promoting someone who is less popular just because you like him and you think the world will like him, your platform will fail. It is also true for a lot of other things from HR management to brand associations.
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Convince and Sell - You are on a mission and people have no reason to believe that you can do it, until you actually do it. You will need a lot of convincing and sell them your mission. Everyone including Investors, employees and early customers will need to be convinced to join you.
Strong Self belief but open to opinions - The journey of entrepreneurship is going to test your self belief. You need to be strong and push things even if they seem too hard at first. Self belief does not mean being closed to perspectives, it only means being sure of your abilities. Let people challenge your ideas and execution, tweak things on the go but keep at it. Planning does help in determining a path first and keep checking your execution against it.
Frugality - If you have endless resources you can continue doing whatever you want till the end of eternity. While having unlimited resources may not be possible, you can make your resources last longer by being more thoughtful about where you spend. Don’t hire too early, use freelancers instead. Don’t close yourself to experimentation but think more about what changes in the experiment would give you more insight or favorable results.