It is the dream of every entrepreneur to be successful but not all of them achieve this dream. Winston Churchill once said that failure is not fatal, what counts is the courage to continue.
The difference between success and failure boils down to the following:
Take calculated steps towards your goal everyday
Many people believe that entrepreneurs are risk takers but as Leonard Green says, entrepreneurs are not risk takers but calculated risk takers.
Smart entrepreneurs just don’t plunge into anything that looks like an opportunity, but they look for ways to mitigate risk in these opportunities. In other words, they are smart risk takers.
What brings success or failure is whether one is a calculated risk taker or just a risk taker.
Concentrate on what you do best
Focus on your strengths and avoid areas of your weaknesses. When you know what you can do best concentrate on it, the rest you can leave to other members of the team, otherwise you will be bogged down with tasks that will limit your productivity.
You also need to identify the strengths of each of your team members so you can assign the tasks that align with their skills.
Once you hire smart people, you don’t need to micromanage them; trust them and they will deliver.
See opportunity in every problem
Don’t see a problem as a distraction that delays your work schedule. Smart entrepreneurs find solutions to problems and create an opportunity out of it.
Think outside the box and figure out how to overcome the hiccup. Keep trying and never give up.
Get out of your comfort zone
As a smart entrepreneur, you should not be comfortable with your current status. Seek new challenges otherwise your competitors will overtake you.
Stretch your boundaries beyond your comfort zone, explore new frontiers and find new connections with people who can inspire you.
Staying in your current state may look safe but you need to push yourself out of it.
Be open to learn more
Most successful entrepreneurs invest in their personal development. They have the urge to always get better at what they do.
For example, there are many tools that make business operations to be easy, be ready to learn about them and deploy them in our business.
Share with successful entrepreneurs and learn how they do their things, pick what is best and apply in your business.
Keep track of your goal
Your short and long term goals are what drive your business. Use them to check whether you are moving in the right direction. Evaluate what you have achieved on a daily, weekly, monthly or yearly basis, and if you notice any deviation, bring yourself back on track.
Focus on quality
Strive to deliver quality products and services. A satisfied customer is worth $100,000 of advertisements. If you deliver quality products and services, your customers will act as ambassadors to your business. You will end up spending so little on advertisements.
Work smarter not harder
Set achievable and realistic goals. Maximize your productivity by leveraging the modern technology which will increase your productivity without you sweating so much.