Startup entrepreneurs are driven with both passion and questions; affirmations as well as hunches.
What does it take to not only start and manage a business, but also to make it a resounding success?
That is a question asked by many people who set out with varied business ideas in their head. The one thing that distinguishes a successful entrepreneur from the rest is the “level of commitment and willingness to buck convention”. This factor often outweighs others in determining whether a business ultimately succeeds or fails.”
Naysayers who predict failure actually fuel the business owner’s desire to succeed.
However, being a risk taker should not be confused with being reckless. Those who successfully take risks analyze it, evaluate the pros and cons, and then trust their instincts and recognize and seize an opportunity to create their own business.
Besides the willingness and ability to analyze and take risks, there are other common traits of startup entrepreneurs who think success.
They trust their GUT
Listening to intuition is a skill that can be developed and strengthened, and it is a skill that is particularly valuable in the most chaotic, fluid business environments. At times when high-pressure decisions must be made at a moment’s notice, intuition can often beat even a thoughtful, rational analysis. By trusting their instincts, entrepreneurs are emboldened to carry out new, untested ideas and ventures, even when nobody else believes in them.
It is about seeing the need for a product or new service and just knowing you can make it happen.
They BUCK the conventional wisdom
Success thinkers ignore those who say, “It will not work” or “It has never been done that way.” Successful entrepreneurs succeed in large part because they veer away from established formulas and ways of thinking. They do not blindly accept established best practices. They look at them instead with a hypercritical eye and dissect them in order to contemplate the different ‘what-if’ scenarios.
They Never Let Adversity or Failure Defeat Them
Startup rookies who are treading right do not accept limits that others or circumstances place upon them. “The ranks of successful entrepreneurs are filled with men and women who refused to stop believing in themselves, despite the derision of others or breathtaking failures in their past.”
People who venture out and start small businesses will undoubtedly experience stressful moments that will test their faith, especially in the beginning when establishing their business. These individuals must remember that “the antidotes to doubt are persistence and resiliency.”
They find a niche that everyone else has failed to notice and serve
Small businesses may have the edge over large multi-national businesses because they can afford to serve niches that larger corporations consider too small to be profitable.
They Spot a New Trend and Pounce
Business owners are not always as sensitive to the shifts in cultural and economic trends as they should be, yet these shifts are often what create entrepreneurial opportunities.
They Go Where Other Businesses Have Not
Successful business owners study the landscape and know where the gaps for services and products are.
They Just Start Their Business
They trust their instinct that their business idea is a winner, and they take action. They understand that the perfect time for a business launch will never present itself. In fact, waiting will give competitors a chance to get there first.
They Save Money and Get Noticed without Expensive Advertising
Start ups are usually on a tight budget, and there are plenty of ways to get customers’ attention without spending money on advertising. They believe that successful business people make their business known in creative and the most unexpected ways.
They Exploit their Competitors’ Weakness and Make it Their Strength
Entrepreneurs who succeed are also observant of their customers’ habits and needs as well as of their competition. They do this by viewing the world from the perspective of their customers, which makes it easier to identify their competitors’ vulnerabilities and shortcomings. They then implement policies and practices that exploit the observed weakness.
They Never Stop Reinventing their Company
They are not complacent. Top-performing business people are not afraid to continue to take chances and to keep expanding their line of products and services. They keep pace with the marketplace.
These are some of the crucial qualities of startup entrepreneurs who choose to ‘think success’ and act on the same.
I'm a self confessed foodie, king of the kitchen, wannabe anthropologist, technology evangelist , curious, inquisitive & experimental entrepreneur at @DigiLands and an adrenaline junkie. Love spending time with my wife & two young children and faulty KitKats that consist purely of solid chocolate.