A Comprehensive Guide towards Successful Entrepreneurship

To lead people, walk behind them — Lao Tzu”

Identity crisis is a good word to start this topic because it is the greatest problem that exists in today’s world. People don’t know who they are and what they supposed to do because we are the kind of peoples who like to move with the flow, and this is where identity crisis comes in.

Figure 1: We don’t know who we are, Source : unsplash.com

Every single human being living on this planet have a purpose and every single one of us is full of gifts and potential. Take the example of a class where there is one boy who used to lead the other kids in his class. By watching him, doing bad to other kids and by getting annoyed from his behavior we chose to take action. What we think is that there is the only way to save my class fellows and me is to teach him a good lesson one day by throwing him out of the class. We don’t realize but that was the first time we think like a leader. It is important for us to understand that every person is a leader and the only thing which we lack is all about acting like a leader.

“To see one’s own way” is the historical meaning of the word “lead” which simply means to discover yourself first, the potential you have and the gifts that you are carrying from your childhood.

Figure 2: Think different and become a leader of your life, Source : unsplash.com

The people who know about themselves, their potential, and their purpose of life are the ones we called entrepreneurs. Remember you can’t show others the way if you don’t know the way. An entrepreneur is the one who wants to make a change — either to an industry, to a strong belief, or to the world. They are willing to take the risk, they choose growth over profit, and they want to learn from their mistakes. Entrepreneurs are basically the leaders who prefer to live a life of boundless uncertainties, just to bet on themselves before anyone else.

“Leadership is not about position, idea, title, or flowcharts, it is all about one life influencing another.” John C. Maxwell

It is a fact that you don’t need money, qualification, a gifted brain, or even a good idea. All an entrepreneur ever does is inspire another life which is also a trait of leadership. There are three most important qualities of a good entrepreneur that are self-actualization, determination, and energy. These are the qualities that all successful entrepreneurs share and fortunately, all these qualities can be learned. It is all up to you to carefully evaluate your strengths and dedicate yourself to learning them. Good startups follow the rule of hire slowly and fire quickly because of three reasons:

· To build a healthy company with the employees who can make it bigger in the long run.
· It is better to leave that person because of which the whole team is struggling.
· Trying to get something out of someone forcefully is not good, it is better to hire the one who already has those potential qualities.

Let’s talk about the things which make a normal person a good leader and a successful entrepreneur in an industry.

Figure 3: An enlighten brain ready to become an entrepreneur, Source : unsplash.com

Idea

The idea is the most important thing which is required to become a successful entrepreneur. It is more important to understand that most of the successful companies were not found in dreams or brilliant ideas. For example, Facebook is a better version or Orkut and Myspace, Google is a better version of Yahoo search, and Microsoft copied it from Apple who copied it from Xerox. It is a fact that the original ideas are very overrated but what isn`t overrates is the timing. Microsoft chooses the perfect time to bring windows to the market same as the Google choose to bring a better search engine. It is all about spotting a product or service that can reach the customers — original or not. It is a much easier process to refine and execute an existing idea then to create an original one. People fears to set up a business just because of the competition which on the other hand is the strength of an entrepreneur. Consider opening up a burger restaurant right next to another because they have already done the hard work for you of building an audience of burger lovers. It is better to have a rival because it gives you more learning the only thing you need is to just become 15% better. Google, Apple, Microsoft, and Facebook are the market giants and their leaders are busy in inspiring your life daily.

Source : unsplash.com

Starting a Company

Starting a company is just like raising a newborn baby and both doesn’t come up with instruction manuals. It is important to remember that many of the great leaders are failed at the start just because their idea is half wrong which a very normal thing, but they invest their time in learning, which half of their idea is wrong. The most important part of starting a company is to convince people to believe in you. Take the example of Steve Jobs, he started Apple with no money and no customers. What this great leader did, still inspires many entrepreneurs. First, he successfully convinced a computer store to order his computer with the payment on the delivery deal. Then he convinced a computer parts supplier to provide him the needed components by showing him the papers of a deal. Then this great leader with a few members of his team assembles the Apple computer in a garage and becomes an entrepreneur. Leadership and entrepreneurship goes side by side. It is important to become a leader of yourself by taking charge of your life before becoming an entrepreneur.

A leader is the one who takes people where they want to go. A great leader is the one who takes people where they don’t want to go.” Rosalynn Carter.

To be a great entrepreneur trained your mind that there is no such thing as a challenge too big to handle. Once you developed this attitude, the people will start to follow you and every single problem will show an opening for greater achievement. Continue to follow hire slowly and fire quickly approach to build a better team that can make your company more successful.