At the very outset, it is imperative to define the term ‘entrepreneur.’ Entrepreneur is a person who creates and runs a business. According to the celebrated personality, Steve Jobs, an entrepreneur is a person who believes in this ideology-“You cannot connect the dots looking forward. You can connect the dots looking backwards. So you have to trust that the dots will somehow connect in your future. Rest if you must, but never give up. An entrepreneur should be enterprising, both in letter and spirit, policy and execution.” In brief, a restless mind and a vibrant spirit are the prerequisites to treasure success in business.
While nobody can ever gainsay the fact that innovation assists an organization to survive in the eternal competitive world, it is not mandatory to reinvent the wheel. For example, McDonald’s didn’t invent hamburgers and Starbucks didn’t invent coffee. These companies have channelized their efforts and concentrated their efforts to carve a niche for themselves. So, innovation in channelizing efforts is a sine-qua-non and the need of the hour.
Learn, unlearn and relearn. Read both success and failure stories to widen your horizon. Transcend the frontiers of ups and downs. Delivery quality products at reasonable price. This is a promising way to strengthen the needful customer base. Delve deep into the intricacies of perfection and tickle your grey cells to master the finer nuances of entrepreneurship. It is good to strive for perfection but it may hold you back. Work on the modalities to learn from your mistakes.
More often than not, many entrepreneurs fail to act resolutely and decisively. It is often advised to take calculated risks. According to the iconic technocrat, Mark Zuckerberg, “The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” Well, success is elusive to those who never take risks. It is wise to recognize the gospel truth that calculated risk is indeed a pre-victory gambit. It takes monumental efforts to build a reputation but takes a few minutes to ruin it. So, act wisely.
Create ‘Eureka’ moments to your customers by introducing efficient products. Keep realist expectations and work on your repertoire to inculcate great business ethics. Success is often fleeting but it is essentially a beacon of advancement. Build the right team and provide the ultimate work environment to your employees. Let the employees strain every nerve to meet the objectives of your organization. Unleash the potential, aggression of employees to see the big picture of amazing entrepreneurship.