Principles of entrepreneurial success


A balanced mix of skills and principles serves as a guideline that enables the tackling of issues and leads to brave new ideas that can improve our way of living. Entrepreneurs need to follow some basic principles which would serve as guidelines and beacons for their success.

1. Love what you do

Do something you are really passionate about. If you don’t love it, if you’re not having fun doing it, if you don’t really love it – you are going to give up. You have to have an emotional investment in what are you doing. If you don’t love what are you doing, failure is pretty much guaranteed. Your love and passion will always fuel the desire you have to go the extra mile.

2. Be progressive and introspective

Why is introspection important? We all have our own patterns of thoughts – introspection is about analyzing those patterns. One who can introspect knows that their own biases, distortions and assumptions sit in between learnings and actions, and they have a dramatic influence on our interpretation of reality. Strong, unbiased introspection is an acquirable skill or a super power. If you don’t make the time and effort to refocus your mind on the positive through introspection, you won’t give yourself the opportunity to grow and develop.

3. Learn as much as you can

Knowledge is the basis of action. Since your decisions are based directly on the knowledge you posses on something, it's important for an entrepreneur to keep himself abreast with everything that concerns his or her venture. This not only includes the knowledge of one's product but more importantly, the knowledge of people. You have been gifted with a certain personality and intelligence that you have to exploit by learning the things you can learn. Don't stress out about the things you can't learn. If you are not gifted in finances, find someone who is. Don't try to teach yourself skills but do become a well-rounded expert in your areas of expertise.

4. Courage and risk taking

Finding a successful path in life is rarely a straight and narrow process. Many entrepreneurs must take numerous steps to develop the right combination of skills, traits and knowledge to be successful with their efforts. If you focus your attention on nurturing these traits in your own life, you may be able to enjoy better overall success with future entrepreneurial efforts.

5. Be ambitious

Entrepreneurs don’t change the world through small actions – they do it through ambitious projects that radically alter the status quo in their industries. An ambitious attitude can lead anyone to triumph and satisfaction, regardless of what is put in front of them. Having talent means nothing if you have no ambition behind it to work your ass off at any given point of the day. Ambitious people understand that there are no shortcuts and it is only their persistence that will get them what they want. Ambition is what gives us a purpose in life and allows us to fight for what we believe in.