I am not convinced when people say successful entrepreneurs are only those who are bristling with innovative ideas and usually ‘think out of the box’ (to use a cliché;).
I do not discount the fact that lateral thinking has led to some great accomplishments, but success comes with being able to implement brilliant concepts wisely.
What makes a successful entrepreneur?
One has to be truly passionate about what one is endeavoring to do. If you are a team, then the other team members should possess the same fervor for the enterprise you are dreaming to set up.
Successful entrepreneurs do not shift their focus away from the task on hand. They also do not take in more than they can chew. In a nutshell, their application is single-minded.
When one cuts corners while executing a task, the whole exercise of trying to be a success falls through. Successful entrepreneurs know that! That is why they strain their every sinew to achieve what they have set out for. So even if they fail, they take solace from the fact that they had put in their best efforts.
If the above point is taken into consideration, then you will also be prepared to accept that the road to achievement of your goal could be very long. Patience is the operative word. It is, therefore, important not to fret when hurdles crop up along the way. Later on, the attendant milestones will make you feel that it was worth it.
One should be flexible and nimble-footed throughout the journey to possible success. It will help you learn many things along the way and let you change your tactics when required. That way you will never feel down and out.
Select your team well at the outset. It is better to choose people with skill sets which are different from your own, although it may be natural to be drawn towards the ones who work in a fashion that is similar to yours.
Do not fall into the trap of thinking that you are being a pioneer. Few if not many might have already trodden the path that you are following.
A plan that you have drawn at the initial stages must go through various phases of tweaking. You will invariably realize that many things that you had envisioned during the drawing board stage are not viable after all.
Compensate generously those who have put in their best efforts on the route. This a key point to keep in mind as they will be encouraged to give you more in the future. It also does not hurt to look beyond your business when you exhibit a goodwill gesture. It does make you feel better about yourself!