While at Harvard, Mark Zuckerberg founded Facebook and made his first billion before reaching 30. The 35-year-old is worth $71.3 billion, $20 billion more than at the beginning of 2019. Sergey Brin and Larry Page founded Google when they were both 25. The list of successful entrepreneurs goes on and on.
Well, each entrepreneurial success story is different. It’s a constant roller coaster and there are many ups and downs. It’s impressive to think of how they got their start. These are the ones who didn’t give up instead and kept on hustling. But, what exactly are these entrepreneurs doing that make them wildly successful.
The rule for business has changed in recent times. Here is a quick list of 6 things that successful entrepreneurs do:
1. Validate Their Ideas In The Real World
You can live in a dream world always—Successful entrepreneurs DO. Successful entrepreneurs approve their ideas – their ideas are not just worthy of being scratched on the napkin – they prove it. You know the only way a dream moves from scribbled text to reality is through a plan.
In order to make your dream a reality, you must have a plan. Make a plan in the form of a checklist tied to timeframes. In case an idea fails, they are not deterred by failure. In fact, they are on the lookout for why it failed and try to shape the next idea into something great.
“Either You Run the Day, or the Day Runs You.” – Jim Rohn
2. Embrace New Challenges
Entrepreneurship is a challenging endeavor. When challenges arise, successful entrepreneurs take on the responsibility of addressing and handling it intelligently. This helps them overcome the most troubling obstacle to success.
Challenges are always present, but successful entrepreneurs consider them incredible opportunities. These are times when you should move ahead and do what no one else will to achieve success. When you’re excited about an opportunity but you think you’re likely to face risks, ask yourself “What are the potential shortcomings?” It can help you become more conscious.
3. When it Comes to Taking Risks, They Just Do It
When it comes to taking risks, entrepreneurs trust their gut. From venturing into new industries to taking up a new business opportunity, they are risk-takers.
Don’t let fear paralyze you from doing what you want. When you are too afraid to take any risks, talk to someone to hear some words of wisdom to take the leap. There is no way to eliminate the risk of entrepreneurship, but the best way to handle it is by allowing it to fuel you.
4. ‘Work-Life Balance’ is ‘Work-Life Integration’
I’m sure you’ve had many thoughts about the alleged term work-life balance. For entrepreneurs, it isn’t possible to have this when you are building your business. Therefore, entrepreneurs embrace work-life integration with the help of time management strategies and task delegation.
Work and life is a synergy, not a balance. Instead of longing for work-life balance, try a healthier attitude related to work-life integration by making friends at work, finding your most productive hours, and staying active in networking groups. Work-life integration is the holistic betterment of life.
“We Need To Do A Better Job Of Putting Ourselves Higher On Our Own ‘To Do’ List.” – Michelle Obama
5. Stay Prepared to Shift Gears
The game of entrepreneurship is tough. Those who are successful absolutely understood that their first idea they try might sink. It’s just that they have to be on the lookout for why it stinks and be willing to shift course.
When you think you’ve reached a new level, everything can suddenly take a turn and you’ll have to either toughen it out or let it all go. They meet the need in the market and as the needs shift, they shift as well.
Just as Instagram co-founders Kevin Systrom and Mike Krieger decided to separate from their cyber baby and move on to their next innovation. This was a piece of shocking news, but it’s uncommon for business people to shift gears to have something new. Your idea may fail just as those of many successful entrepreneurs, but don’t be deterred by failure. Be able to recognize and shape the next idea into something truly great.
6. Cultivate “an External Brain”
Having an external brain clears the mind of juggling tasks, to-dos, and non-essential tasks. If you rely completely on your memory, you can’t keep everything straight. Entrepreneurs who are creating an external brain through journals, note-taking apps, or any other tool are doing better in entrepreneurship.
As an entrepreneur, you have to capture your ideas. Write it down on a tool to keep all notes in one place organized, transfer the thoughts onto paper, decide what the next action is and organize your reminders. This will keep you out of unnecessary stress. Also, bullet journaling helps entrepreneurs stay in control of the day.
Bonus Tip: Nurturing Your Business’ Entrepreneurial Spirit
The so-called “entrepreneurial spirit” should be clearly defined. It is a mindset that embraces critical questioning, an attitude that actively seeks out changes, and continuous improvement. The entrepreneurial spirit is helping entrepreneurs keep hustling with excessive growth at the right pace that keeps peers engaged.
If you genuinely want to keep the entrepreneurial spirit alive, you need measurable points you can incorporate in your culture. Always keep a healthy and motivated team, be curious about everything, hire people who share your values, allow your people to learn, reward your top people for what they contribute, and develop a high endurance to risks.
So now that you’ve understood what the road looks like, are you ready to take the plunge? So many people hold onto their dream of entering entrepreneurship because it’s challenging, but the truth is, there is no limit on success.