The goal of every entrepreneur is to experience that one big break that will shoot the business and its revenue into orbit. To achieve this important goal, most entrepreneurs work day and night doing all that can be done in and outside the business. But the big question is; are they doing what is needful or just what they deemed necessary?
Except mentored by successful business gurus, most entrepreneurs who stumbled into business are practicing what I call “learning on the game.”
There is nothing wrong with learning on the game, in fact, it is exciting and adventurous. But it comes with series of mistakes and re-inventing the wheel. These lead to waste of financial and non-financial resources. However, if you are ready to get it right so you can experience the breakthrough that will make you smile to the bank often; here are the things you need to do.
One-Get the necessary experience: The primary experience you need as an entrepreneur is the basic skills needed to run a successful business. You need the business (or technical), financial and investment management skills. The first one will teach you how to manage and grow your business. The second will teach you how to understand and control your money. The last one will teach you how to multiply your money. Now, these skills are not found in a place; they are scattered and embedded in different media. You have to fit the pieces of the puzzle together. The knowledge are hidden in books written by experts and business owners. They are hidden in tons of articles online. They are hidden in trainings, seminars, workshops and conferences. They are also hidden in successful business mentors. So, you lot is to gather all these information from wherever they are and then begin to apply them.
Two-You need specialized knowledge: To be successful in business, you need beyond the general knowledge of how to run a successful business; you need the specialized knowledge. This is the knowledge of how things are done in the industry that your business belongs to. You need to know the policies that govern the industry. You need to know the challenges the industry is facing. You need to know the necessary association or network in the industry. You need to know the top players in the industry. You need to know the nitty-gritty of how the industry operates.
Three-Be stubborn: Like a colleague of mine will say, “the god of enterprise will test you to be sure you are part of the stubborn few who are meant to building successful businesses”. When you truly want to build a business, you have to be someone who doesn’t give up easily. You are going to be confronted by different challenges. You are going to fail and lose money (plenty of it). Your competitors will want to suffocate your business. The government will breathe on your neck. Except you persist, you may throw in the towel and move to something. But in business, we don’t break, we bend. We do not know how to give up. You must join this league of extraordinary men who are bent at making things happen without giving up.
Four-Chase your goal: I’ve realized why most entrepreneurs fail. They don’t have the gut to chase their goals when confronted by tough times. They don’t have the determination to follow one course until successful. Successful entrepreneurs have one thing in common—they know how to chase their goals until they break through. They are ready to sacrifice whatever it takes. They are ready to hang on until they get what they want. So, if you truly want to break through, you need to take a cue from them.