When we see entrepreneurs who have achieved success, it's natural to wonder: what makes them different?Some will tell you that entrepreneurs succeed because they work harder, know the right people or are just smarter than the rest of us.
While there traits are valuable they do not make a successful entrepreneur. What an entrepreneurs successful is a set of habits, it is their behaviors, attitudes, and actions-practiced consistently-that separate successful entrepreneurs from the rest of us. If you can identify and incorporate these habits in your own life you can also succeed as an entrepreneur.
Habit # 1: Always be learning knowledge, more than money, influence, or dogged persistence, is the most valuable asset of any entrepreneur. Many businesses have burned through sky-high piles of start up capital without even turning a profit, despite big-names backers and tireless work of the founder. But if you know-really know what you are doing, then your chances of creating a winning business skyrocket and the way to make sure you know as much as you can is to always learning.A successful entrepreneur is a student of business, technology, and human nature.In technology constant change drives the need to always learn. The steady arrival of new technology means any entrepreneur where business is touched by technology must stay up on the latest refinements and introductions, human nature, on the other hand, changes slowly if at all. But the topic is so complex and deep that literally inexhaustible. The more you can learn about why people do things, their basic needs and how to structure your business to meet them. The more likely you are to succeed as an entrepreneur.
Successful entrepreneurs don't learn only in traditional classrooms, they stay up on technology reading about and trying new tactics. They stay up on business by following the markets, attending seminars, and obtaining expert advice. For studying of human nature, their classrooms are meeting room, coffee shops, airports and any place people gathered. And above it all they learn from their mistakes.Successful entrepreneurs never think they know it all. They are always learning.
Habit # 2: Not Letting Lack of Money Stop you, common knowledge say, "it takes money to make money," And while there is a grain of truth to this old adage, what it leaves out is that it's not money that you need, it's access to money, in other words, you just need to be able to use money, including money that belongs to other people. We're talking about debt. Being able to borrow money is more important than having money.
Borrowing lets you use leverage. When you borrow to invest in a business you greatly increase-leverage-your power, if you spend $1,000 of your own money to enter a new market you won't do the job well as if you had $10,000 or $100,000. By getting the rest from investor or lenders, you greatly increase the leverage and power of your $1,000.
The same holds for any business or function. You don't need money to succeeds as an entrepreneur. You need to be able to get and use money. How you do that is not common knowledge but it's something Rich Dad Coaching can help you learn.
Habit # 3: Focus on mission, not just money
When you are entrepreneur it's easy to be misled by focusing on money. Sure a successful business has to attract money through sales and have money, left over as profit after paying operating costs. But it's not just about money. The most successful entrepreneur do not have decisions solely base on financial outcomes. If you are becoming an entrepreneur just for money, you likely won't have long term success.
The most successful entrepreneur are on mission, with capital "M" They have a vision in which money plays a roles but is not the only factor. For much of Bill Gates career as founder of Microsoft, he was known as the wealthiest person, but back in a very beginning he had a vision, and it wasn't to be the richest man on earth. It was, a computer on every home, on every disk. Now that Gates vision had been realized, and 90% of those computers are running windows software, the result is billion in profit every year, but But Gates didn't start with vision of billions. He started with a mission.
What is your mission? If it is going to be the foundation of a successful business, it has to be one that generate sales and profits, but if you are going to be a long term success, you have to focus the first and foremost on your long term mission.