1. Do work you care about and check how ‘in demand’ your idea is
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.
Working somewhere you’re not super-passionate about can be drudgery. But, leaping into entrepreneurship without first checking if the grass can be greener on the other side for you can be worse – not to mention costly.
What’s the market like for your business – both now and into the future? What are the growth opportunities? Who are your customers? What will all of this cost?
2. Believe in yourself and 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.
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.
3. Find good people and 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.
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.
4. Know your customer and learn from complaints.
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.
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.
5. 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.
6. 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.
Source: Entrepreneurs, Fingerprint