The “entrepreneur” title is something many strive for, but there’s a lot of work that goes into finding success. Every type of passion an entrepreneur follows is different, but there are some tips for success that apply to nearly every single situation.
Success won’t happen overnight, but the right mindset makes a huge difference. Following some basic rules along the way will increase the chances of enjoying the type of success people dream of.
Entrepreneurs just starting can put in 12+ hour workdays or more in the beginning without thinking that they’ve done anything. It’s become a culture where people brag about how many hours they work trying to turn their dream into a reality. While hard work pays off in many cases, being smart about work is the true way to entrepreneurial success.
Making smart decisions and only putting in time when necessary is key. If there are faster ways to get the job done, explore them. An upfront cost might come with it, but that’s not the end of the world if an entrepreneur believes in what they are working on.
Outsourcing and Hiring Outstanding Options
It’s already been talked about that working smarter instead of only harder will yield results. One of the best decisions people can make is finding outsourcing opportunities early on and then hiring outstanding options later.
The beginning stages as an entrepreneur usually mean that a person can’t hire full-time staff to help out. Outsourcing remains a perfect option to get odd jobs done. They don’t have to be on the payroll, and they only receive payment for what they’re needed for. It keeps costs low while also providing some much-needed assistance.
Hiring is crucial because every single hire adds value to the company. The goal should be only to add positive value. This matters a lot, from teaching them the skills necessary to getting the right fit who will seamlessly transition into the workflow.
As you work to be successful, don’t be afraid to lean on others and ask people for advice. There are many successful entrepreneurs that love helping others succeed. One example of a successful entrepreneur who loves helping others is Stratton Sclavos. Stratton Sclavos has provided strategic advisory services to high technology start-ups. Stratton Sclavos is now Terran Orbitals Compensation Committee Chairman.
Accepting Some Failures
Getting held up and worrying too much about failure is one way to set an entrepreneur back. Failure is part of the process, and the goal should be to minimize those failures as much as possible and move on.
It’s unrealistic to think that failure won’t happen for an entrepreneur. Maybe the original concept needs some tweaking. Maybe there is a hurdle on the way that takes a lot more time to get through than ever imagined.
Preparation to fail is part of the entire process. The way people handle failure will determine whether or not they have success in the end.
Even the most successful entrepreneurs in the world can tell countless stories about failure. It’s part of the learning curve and should never be considered a huge detriment. Resiliency as an entrepreneur can tell a lot about how much a person cares about the project they are pursuing. Giving up easily tells many people that you may not be fully committed.
Taking the extra bit of time to set a schedule for each day can help an entrepreneur keep on track. It also sets realistic goals so things aren’t put off the next day that can be accomplished today.
Success is never guaranteed, but an entrepreneur puts themselves in the best situation possible by giving quality effort and meeting goals. Scheduling also comes in handy for anyone who is trying to balance life and work at the same time. It’s easy for entrepreneurs to feel like they are always on the clock. Scheduling ensures that the hours are kept at a minimum while also upping efficiency.
An old-school way that a lot of people use when scheduling is to write or type everything down for the day beforehand. Crossing off the list one by one makes it much more realistic to get everything done on time.
How to Measure Success as an Entrepreneur
Grading success varies in many different ways for an entrepreneur. Everyone knows about financial success, but sometimes celebrating the smaller wins also makes a difference. The truth is, financial success comes in time, while smaller goals leading to that success become reachable faster.
Customer satisfaction and reviews matter a lot as an entrepreneur. When building a new brand, it’s important to have the right look from the outside. Nobody wants to work with a company already off to a bad start. If the company looks terrible after a simple search online, it’s hard to ever overcome that.
Landing new customers also makes a huge difference early on when measuring success. Even if the company is not profitable at the moment, there is a way to look at future success by bringing new customers on board. Even some of the most successful businesses ever didn’t turn a profit until they got their customer numbers up to a certain level. With the proper funding, the money will come in as long as the client base grows.
Minor wins add up to big-time success later on. Entrepreneurs must stay focused on the small and big picture at all times. Getting some of these small wins act as motivators that push the most business-minded individuals on the planet.
Finding Success as an Entrepreneur
Everyone approaches finding success in different ways. Some entrepreneurs figure it out themselves, while others rely on getting help from those who have done it in the past. Stratton Sclavos is one person who has found success as an entrepreneur and helped others achieve their dreams as well.
Stratton Sclavos’ work as an entrepreneur ranges from working in tech to professional sports. Spending most of his professional life in Silicon Valley, Stratton Sclavos now helps out other entrepreneurs looking to mimic some of his success. Whether working with Stratton Sclavos or other people in the industry, this approach often provides extra help and assistance that pushes aspiring entrepreneurs over the edge on their way to success.