For many budding entrepreneurs it can be difficult to transform an innovative idea into a successful business. Unfortunately, it’s all too easy to let a potentially life-changing idea slip through the cracks and never materialise.
- Surround Yourself With The Right People
It’s important to recognise that you will never be an expert in every area of your business, so it’s crucial to have people in your business that you trust to manage those areas. Remember that you are just one person and, as your business grows, micromanaging can lead to burn out and can have detrimental effects on your business. If you are not at the point where you can begin hiring employees, at least aim to outsource areas that you aren’t confident with or that are taking up too much time (eg, accounting or web design).
- Don’t Get Bogged Down In Writing A Comprehensive Business Plan
While setting out clear objectives and direction for your business is a good idea, don’t get too wrapped up in writing a 50-page business plan. Instead, develop a simple one-page business plan summary that captures the theme and specifies the three top objectives for each department. Then shift more of your focus and resources on linking your team’s 3 top KPI’s to achieving the business plan objectives. Part of running a business is learning to deliver on time, be creative and responsive to external events, and realising that your plans need to allow for some flexibility. The most detailed business plan means nothing if it is derailed by the slightest change.
- Watch Your Thoughts
A positive attitude and self-belief plays a huge role in having the ability to chase your dreams. Visualise what you want and get excited about it! Take inspiration from the famous Gandhi quote; “Your beliefs become your thoughts, your thoughts become your words, your words become your actions, your actions become your habits, your habits become your values, your values become your destiny.” Value your ideas, skills and abilities and don’t allow negative, self-defeating thoughts sabotage your success.
- Everyone Has The Ability To Be An Entrepreneur
Don’t ever doubt your ability to become a successful entrepreneur or think that you aren’t talented, intelligent or experienced enough to make your dreams into a reality. Some of the world’s most successful entrepreneurs had limited experience or formal education in their field, but they didn’t let that stop them from achieving incredible things. Passion, creativity, perseverance and drive are all important skills to possess and develop when it comes to running a successful business.
- Don’t Be Discouraged By Setbacks
It seems cliché, but there is a lesson in everything – good and bad. So rather than seeing a setback as a step backwards, view it as a challenge and an invaluable learning experience that will help you to grow as an entrepreneur. Embracing every challenge and extracting endless opportunities from every obstacle presented to you is the driving force behind successful outcomes. Always remember that where there is no struggles, there is no strength!
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About The Author:
Successful entrepreneur and CEO/Founder of Sue Ismiel & Daughters, makers of Nad’s (www.nads.com.au), created an internationally renowned hair removal company from her own kitchen 23 years ago. The idea was born from her desire to solve her daughters unwanted hair problem and now the Nad’s range of depilatory items are sold in major retail chains in Australia, USA, UK and NZ.
