Becoming an entrepreneur has rewards but you need certain attributes to be successful, ADEMOLA ALAWIYE writes
Self-employment can be very satisfying and rewarding, but many ventures fail.
Any activity in life requires certain musts before you can succeed in it. If your goal is success in business, then the formula to succeed in it must be adhered to strictly. There are certain musts that have to be fully developed, implemented and managed for your business to succeed. Experts say there are many business musts and it is up to the entrepreneur to implement them in order to thrive in his chosen career. Below are common characteristics of successful entrepreneurs, according to experts:
Are shameless self-promoters
Without becoming obnoxious, successful entrepreneurs promote their products brazenly. Experts say one of the greatest myths about personal or business success is that eventually your business, personal abilities, products or services will get discovered and be embraced by the masses that will beat a path to your door to buy what you are selling. They note that self-promotion is one of the most beneficial, yet most underutilised, marketing tools that the majority of business owners have at their immediate disposal.
Project a positive business image
As an entrepreneur, you have but a passing moment to make a positive and memorable impression on people with whom you intend to do business. Business owners must go out of their way and make a conscious effort to always project the most professional business image possible. Experts say business owners do not have the advantage of elaborate offices or elegant storefronts and showrooms to wow prospects and impress customers. Instead, they must rely on imagination, creativity and attention to the smallest detail when creating and maintaining a professional image for their home business.
Know their customers
Experts say that one of the biggest characteristics and often the most significant competitive edge the home based entrepreneur has over the larger competitors is the he can offer personalised attention. Call it high-tech backlash if you will, but customers are sick and tired of hearing that their information is somewhere in the computer and must be retrieved, or told to push a dozen digits to finally get to the right department only to end up with voice mail–from which they never receive a return phone call.
Make good use of technology.
Entrepreneurs should avoid getting overly caught up in the high-tech world, but should also know how to take advantage of using it. One of the most amazing aspects of the internet is that a one or two person business operating from a basement can have a superior website. Make sure you’re keeping up with the high-tech world as it suits your needs. The best technology is that which helps you, not that which impresses your neighbours, experts add.
Build a sound business team
It is important to know that no one person can build a successful business alone. It’s a task that requires a team that is as committed as you to the business and its success. Your business team may include family members, friends, suppliers, business alliances, employees, sub-contractors, industry and business associations, local government and the community. Of course the most important team members will be your customers or clients. Any or all may have a say in how your business will function and a stake in your business future.
Become known as an expert
Professionals say when you have a problem that needs to be solved, do you seek just anyone’s advice or do you seek an expert in the field to help solve your particular problem? Obviously, you want the most accurate information and assistance that you can get. You naturally seek an expert to help solve your problem. You call a plumber when the hot water tank leaks, a real estate agent when it’s time to sell your home or a dentist when you have a toothache. Therefore, it only stands to reason that the more you become known for your expertise in your business, the more people will seek you out to tap into your expertise, creating more selling and referral opportunities. In effect, becoming known as an expert is another style of prospecting for new business, just in reverse. Instead of finding new and qualified people to sell to, these people seek you out for your expertise.
Strong work ethic
Long hours, lack of sleep and forgetting to eat are worn as badges of honour in many business circles, especially in growing start-ups. If you want to get to the top, you have to fall in love with the pain of hard work.
Deep industry knowledge
Most successful entrepreneurs are walking encyclopedias for their industry. They know who all the movers and shakers are and the major developments that shaped their craft. You will never be able to tell them more than they already know. The key to great success is being able to sacrifice who you are in the moment for who you want to become.
Punch
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