Success Tips for Young and Aspiring Entrepreneurs

Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to an entrepreneur, but not everyone can find one in person.
If you haven’t yet found your personal business guru, here are 21 tips for young or aspiring entrepreneur to help get you started.

1. Challenge yourself. 

Richard Branson says his biggest motivation is to keep challenging himself. He treats life like one long university education, where he can learn more every day. You can too!

2. Do work you care about. 

There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.

3. Take the risk. 

We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.

4. Believe in yourself.

As Henry Ford famously said, “Whether you think you can, or think you can’t, you’re right.” Believe that you can succeed, and you’ll find ways through different obstacles. If you don’t, you’ll just find excuses.

5. Have a vision. 

The founder and CEO of Tumblr, David Karp, notes that an entrepreneur is someone who has a vision for something and a desire to create it. Keep your vision clear at all times.

6. Find good people. 

Who you’re with is who you become. Reid Hoffman, co-founder of LinkedIn, noted that the fastest way to change yourself is to hang out with people who are already the way you want to be.

7. Face your fears. 

Overcoming fear isn’t easy, but it must be done. Arianna Huffington once said that she found fearlessness was like a muscle -- the more she exercised it, the stronger it became.

8. Take action. 

The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

9. Do the time. 

No one succeeds immediately, and everyone was once a beginner. As Steve Jobs wisely noted, “if you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in your company.

10. Manage energy, not time.

Your energy limits what you can do with your time, so manage it wisely.

11. Build a great team. 

No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.

12. Hire character. 

As you build your team, hire for character and values. You can always train someone on skills, but you can’t make someone’s values fit your company after the fact.

13. Plan for raising capital.

Richard Harroch, a venture capitalist, has this advice for upcoming entrepreneurs: “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

14. Know your goals. 

Ryan Allis, co-founder of iContact, pointed out that having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.

15. Learn from mistakes. 

Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success -- even though you initially failed.

16. Know your customer. 

Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.

17. Learn from complaints. 

Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.

18. Ask for customers’ input. 

Assuming what customers want or need will never lead to success. You must ask them directly, and then carefully listen to what they say.

19. Spend wisely. 

When you spend money on your business, be careful to spend it wisely. It’s easy to spend too much on foolish things and run out of capital too soon.

20. Understand your industry. 

Tony Hsieh, the founder of Zappos, once said, “Don’t play games you don’t understand, even if you see lots of other people making money from them.” Truly understanding your industry is key to having success.

21. Deliver more than expected.

Google's Larry Page encourages entrepreneurs to deliver more than customers expect. It’s a great way to get noticed in your industry and build a loyal following of advocates.
Being a successful entrepreneur takes a lot of work, a lot of vision and a lot of perseverance. These 21 tips, from entrepreneurs who have already found success, will help you navigate the path much more easily.

credit : https://www.entrepreneur.com

7 Strategies for Staying Motivated in Business

1) Reward Yourself
Don’t take yourself or your business and personal achievements for granted. Acknowledge when you have made progress, no matter how small.  Recognize the work of your team also, and reward them.  Treat the team to lunch when a significant milestone has been met. Give them gift cards for christmas or the holidays.  Encourage their efforts and they will work harder for you. Set rewards for yourself also. Positive reinforcement remains the best way to stay motivated for the long haul in business.


2) Manage Your Thoughts
How you feel about your business at any point is a direct result of how you think about your business.  Negative or scary thoughts about your business can breed anxiety and depression.  Succesful business people train themselves to think positive, optimistic thoughts which energize them to stay focused on their business, no matter the challenges. You are in control of your thoughts. Choose positive, optimistic ones.

3) Take Care Of Yourself
Running a business will probably be the most exhausting thing you’ll ever do.  Find what relaxes you and engage in this activity DAILY. Do you like to go bike riding, do yoga, take walks, read, watch TV, spend time with family, whatever it is. Allow yourself at least an hour daily to unwind and engage in this activity.  It will help rejuvenate you and build you up for the next day. As mentioned above, running a business is a marathon, not a sprint. One would not run an entire marathon without taking a drink of water or pacing yourself. Give yourself permission to unwind when you need to.

4) Set Realistic Goals
This one’s a big one. Entrepreneurs tend to be action and goal oriented. Did you set a goal to make $1 million in your startup in the first 6 months? Perhaps, this may not be a realistic goal and you may be setting yourself up for failure.  Instead, set realistic, measurable goals that are a stepping stone to move your business to the next level.  A startup business is like a baby.  You can’t expect a baby to start running on the first day of life. One must give it time to grow, mature through its life stages before reaching the point where it can run. Set realistic goals and give your business, and yourself, time to reach these goals.

5) Stay Positive
There is power in our words. And our thoughts. Keep a positive state of mind. Stay away from negative people.  Make it a habit to always look at the bright side of things. There are many opportunities in business to focus on the negative. Don’t fall into this trap.  Your positive energy will spread to those around you and your team which will motivate them to work harder for your business.

6) Seek Inspiration
Check out best podcasts for entrepreneurs to help you stay motivated. Join online book clubs for entrepreneurial inspiration.  Spend a weekend afternoon reviewing our business posts.  There are millions of entrepreneurs in the world, most of who are going through the same challenges you are. Look for ways to engage and connect with them to find inspiration.

7) Remember your goals…
…and let them drive you. Do you want to make billions doing what you love? Do you want to be the market leader in your area of interest? Remember why you started your business in the first place and allow these goals to invigorate you in down times. Create yearly, monthly, weekly and daily action plan items based on these goals. And remember to be kind to yourself. Give yourself permission to fail. Business rarely goes as planned the first time around. Prepare for a marathon instead of a sprint when planning for business.

7 secrets of running a successful, profitable business

1) Enjoy Your Business
Never forget why you started your business in the first place.  Whatever drives you needs be at the forefront of your business goals. And do find ways to make running your business as enjoyable as possible. You likely started a business in something you are passionate about.  Allow this passion to invigorate you when times are hard.


2) Networking
Making contacts through strategic networking is key to building a successful business. Attend conferences, meetings, symposiums, exhibitions and take advantage of networking opportunities at these events. Always remember the key to effective networking is looking for ways you can help others. Offer up your own contacts. Offer to make connections for others.  You’ll be surprised others in your field will seek to repay the favor by connecting you with people who can help advance your business.

3) The power of “No”
Learning to say no is paramount to running a profitable business. For everything you say yes to, you’ll be taken away from a task that could be building your business and taking it to the next level.  The more successful you become, the more others will make requests of your time. It’s up to you to practice astute time management skills by saying yes only to projects/endeavors that will advance your overall business mission, vision and goals. 

4) Sincerity
Always remain sincere. Be a person of your word.  This is especially key when first starting off your business. You’ll be better served in the long run by building your business on a foundation of trust and sincerity.  Your staff, colleagues, customers and even competitors will respect you and the standard you uphold. Your industry is a small world. Your business reputation will spread fast. Take an active role in controlling how your business is perceived by being honest and sincere in all you do.

5) Get Personal
Successful business owners make it a point to know their customers well.  Business is about building relationships. Customers know that it’s challenging for any business to know them personally.  So they are very impressed and become your business advocate when they sense you are taking the time to get to know them.  Get their birth dates when they buy your product or service and send them a Happy Birthday email or card when it’s their birthday.  Send them a  thank you note after their purchase.  Call to check in on them after a major purchase to make sure everything is going ok.  These seemingly small gestures make the difference between a business just coasting by and a successful, profitable business. And happy customers are your best advertising tools.  They’ll attract more paying customers to you at no cost!

6) A Positive Attitude
A negative attitude is like a flat tire; you can’t go far with it. Negativity is counter-productive and draining. A positive attitude is addictive and opens your mind to all the possibilities.  Running a business will probably be one of the most stressful things you will do in life. There are countless ups and downs.  Business success stories are defined by how well they handle challenging situations.  A positive attitude is the most valuable asset in your arsenal of tools needed to build a succesful business.

7) Industry Knowledge
It pays to have in-depth knowledge of your business industry. Industry knowledge in all forms drives a profitable business. Every great entrepreneur should know at least a bit about every aspect of running their business e.g. sales, marketing, research and development, etc. However, they should have a solid, sound expertise in specific areas related to their industry niche.

7 Things Every Entrepreneur Should Do Before 7 a.m.

Success always takes time, which is why the most successful people start early.

Entrepreneurs are a unique breed of people. We like to do things our way and are known for our almost obsessive attraction to habits. But, there’s a good reason for that. Habits help us achieve our goals, keep us motivated, eliminates wasted time, and improve our lives altogether.

Arguably, the most important habit for an entrepreneur is their morning routine. After all, if you start your day off on the wrong foot, how productive, motivated, and focused are you going to be for the rest of the day?
To make sure that you start your day off on the right foot, here are seven things that every entrepreneur should before 7 a.m.

1. They’re wide awake.

Successful entrepreneurs like Richard Branson are known for waking up bright and early.
"I have always been an early riser. Like keeping a positive outlook, or keeping fit, waking up early is a habit, which you must work on to maintain. Over my 50 years in business I have learned that if I rise early I can achieve so much more in a day, and therefore in life," explains the Virgin Group founder.
When you’re awake before 7 a.m. you have the time to check the news, gather your thoughts, or exercise. This prevents you from rushing out the door every morning feeling frazzled and unfocused.
Waking up early means that you have to stop hitting the snooze button by getting enough sleep each night - preferably between 7 and 9 hours. Besides ensuring that you’re an early riser, getting the appropriate amount of sleep improves your health, memory, learning, productivity, and mood. It may even help you make fewer risky financial decisions, reduce stress, and decrease fat and increase muscle mass with exercise.

2. Avoid your phone.

This may sound crazy, but there a couple of perfectly valid reasons for not reaching for your phone first thing in the morning. For starters, placing it next to yourself throughout the night can interrupt your sleep because of the light the screen emits or the notifications that go off throughout the night.
Additionally, diving into your inbox or social media channels can be stressful and distract you from setting your personal priorities. Instead of setting your goals for the day, you’re frantically responding to an angry email from a client. That’s not the best way to start your day.

3. Exercise or meditate.

Yes. Whether if it’s going for run, lifting weights, plunging into a 57-degree Fahrenheit pool, yoga or reciting oms, regular exercise or meditation reduces stress, makes you happier, increases your energy, helps you sleep better, gives your immune system a boost, and prevents you from developing future health concerns like heart disease.
However, just as important for an entrepreneur, exercising and meditating each morning can help you focus on what you need to achieve throughout the day and develop new ideas.

4. Eat a healthy breakfast.

Stop kidding yourself. Breakfast is the most important meal of the day since it’s going fuel your brain and body for the day. But, not all breakfasts are equal. Skip the donuts or leftover pizza and consume:

• Healthy carbohydrates like oatmeal or rye toast.
• Low-fat protein like eggs, nuts, greens, and beans.
• Fruits and veggies.
• Dairy alternatives like soy, almond, or rice milk.

While having a morning a cup of tea or coffee to wash down your breakfast isn’t bad, try sipping on some lemon water before you eat.
"Drinking lemon water as soon as you wake up spikes your energy levels physically and mentally. Lemon water gives you steady, natural energy that lasts the length of the day by improving nutrient absorption in your stomach. You need to drink it first thing in the morning (on an empty stomach) to ensure full absorption," explains Travis Bradberry.
"You should also wait 15-30 minutes after drinking it before eating (perfect time to squeeze in some exercise). Lemons are packed with nutrients; they’re chock full of potassium, vitamin C, and antioxidants. If you’re under 150 pounds, drink the juice of half a lemon (a full lemon if you’re over 150 pounds). Don’t drink the juice without water because it’s hard on your teeth.
Breakfast is also a great time to spend time with your family.

5. Lift your spirits.

Some mornings you just don’t want to roll out of bed. The weather’s crummy and you had a major setback. It’s not the end of the world, but it’s enough to kill your motivation for the next couple of days.
That’s why successful entrepreneurs practice lifting their spirits each morning. Whether it’s reading an inspiring book, memorizing motivational quotes, working on a passion project, or writing down your thoughts or experiences in a journal or blog, take a couple of minutes every morning to get in the right mindset before tackling the day.
If those tactics aren’t effective, write down the things that you’re grateful for.
"The five-minute journal is a therapeutic intervention, for me at least, because I am that person,” says Tim Ferriss, entrepreneur and author of The 4-Hour Workweek. “That allows me to not only get more done during the day but to also feel better throughout the entire day, to be a happier person, to be a more content person -- which is not something that comes naturally to me."

6. Set your goals and priorities.

Every Monday morning set your goals for the week. Each day for the rest of the week write down the goals and priorities that need to happen that day. Think about how you’re going to accomplish those goals while in the shower, jogging or whenever you have quiet time to yourself.
The most effective way to cross items off your to-do list is by starting with the hardest task - or the task that you’re dreading the most. Procrastinating on those tasks just leaves them for tomorrow. Get them done and over with now so that you can keep moving forward.

7. Get down to business.

Finally, it’s time to get down to business. You can now grab your phone and read and send emails, pop-in on social media, check the news involving your industry, and review metrics, such as the previous day’s sales. That data may alter your to-do-list, but because you got a headstart, you’ll be prepared and ready when it’s time to enter the office.

Source : https://www.entrepreneur.com/article/290427