A Guide to The Successful Entrepreneur

While visiting a financial institution within this week, I came across this very inspiring and thought provoking article in the OECS Business Forum Nov\Jan 2015/16 Edition. I felt it was too good to keep and we decided it needed to be shared.

This is a great way to evaluate yourself as an entrepreneur and your business idea. Hope it helps you as it did help us to increase our knowledge and change our views.

This article was written by : Samuel Rosenberg is the founder and CEO of Axcel Finance Ltd., the leading regional microfinance institution. Share your thoughts and email your questions to srosenberg@axcelfinance.com

“A Guide to The Successful Entrepreneur”

“You have a great business idea and want to share it with everyone, but when you wonder if you can join the ranks of successful entrepreneurs, you may consider which characteristics are required to run a thriving business?

Fortunately, you may already share many of the attributes of good leaders and the remainder can be learnt through education, finding a suitable mentor and matching these to your goals and targets. Of the many traits shared by successful entrepreneurs, self-motivation, risk-taking and finding and adapting your particular niche, are clearly boxes to tick on your list.

How often have you seen a great idea and wished that you had invented it first or brought the goods or service to market? As a successful entrepreneur, you will be seeking a niche product or service which matches the needs of sufficient individuals or businesses that can provide you with sufficient customers and long-term profit. Which gaps in the marketplace have you seen and identified as being the best niche for you to adapt into a profitable business, no matter how small your local market, village or island is? We all take risks from time to time, but successful entrepreneurs often take larger risks, to achieve substantial targets.

You must not be afraid to fail when you take larger risks. When you consider other successful businesses and business people, what risks did they take to enhance their business? When you take substantial risks, not everything will work out in the way that you would planned, but the most successful individuals will learn from previous failures and projects and find solutions to their problems.

When you begin your business, you will almost certainly be working long hours and every day of the week, because you will wish to go that extra mile to assist your success. This is why you must be self motivated which includes a considerable amount of hard work, not just in the early days, but perhaps for years to come. You will be directing both yourself and your business as you won’t have a boss to turn to, to listen for specific instructions and act upon those.

 

By taking your business seriously and preferably, doing what you enjoy, you will be able to plan everything in meticulous detail. By managing all of your money wisely and always asking and never being afraid, you will learn how to beat your competition and ensure that your customer focus and shameless self-promotion gathers the best social media response.

By staying ahead of technology and building your business team to the best that it can be, you will become the industry expert that everyone turns to because you have created a competitive advantage in your business and your people. Because you are investing in yourself, you will always maintain the 100% effort required and always appear accessible as you build your trustworthy reputation.

By being closely involved with mastering negotiations you will learn how to take time away from your business and learn how to balance your business and family life so that both prosper. This in turn, helps you to become a successful entrepreneur.”

This article was written by : Samuel Rosenberg is the founder and CEO of Axcel Finance Ltd., the leading regional microfinance institution. Share your thoughts and email your questions to srosenberg@axcelfinance.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s