How to be a Successful Entrepreneur

By American Graduate Business School

The path to entrepreneurship glory is paved with tough obstacles. The good news is that you can overcome them if you (a) operate with the right mindset (b) pick people who can contribute to your vision and (c) work with a disciplined approach. Here are some points to ponder over.

Pursue your passion
Do what you like, like what you do. It is difficult to keep motivation levels consistently high  – and particularly during challenging times – if you’re not doing what you love and believe in. Avoid doing anything just because it has potential; design, build and provide a product or service that you understand, solves an existing challenge, or makes a difference in the way that you and others care about deeply.

Take baby steps
Aim for small, daily wins that take you one step closer to your big goal. Be analytical and critical, ask powerful questions, and make the most of the data you can accumulate. Insights-driven decisions have a better chance of working than going ‘all in’ and realizing only later that you could have done things differently.

Plan and act on it
A plan not only allows you to align your actions and decisions to quarterly or annual goals, but also enables you to foresee the future five or ten years from now. Look at planning as a way to generate new information into your business and to challenge your own views and biases.

Don’t sit around on your plans – with delays come lost opportunities and outdated ideas. Today’s dynamic business landscape calls for ideating/innovating, experimenting/trialing, measuring outcomes and improving constantly.

Form a solid ‘A’ team
Even one bad hire can be toxic to your start-up team. Besides recruiting for skills and experience, market your company’s core values to attract like-minded individuals who stick around and serve as valuable assets.

Devote time to self-promotion
Showcase the success of your product/service on social media and through press releases. Contribute guest blogs on authoritative websites in your niche and/or leverage thought-leadership platforms such as LinkedIn.

It helps to build contacts with media websites and forge associations with entities who can enhance your reputation in the right circles.

Be the best version of yourself
Leadership presence matters. Use your position to drive action but also be mindful of your words and behavior. Practice humility, be nice to everyone, and explore ways to increase your trust and influence among employees and peers.