3 Tips to Become an Entrepreneur and Succeed

What is entrepreneurship? Entrepreneurship is defined in the Oxford dictionary as "the activity of making money by starting or running businesses, especially when this involves taking financial risks; the ability to do this." Entrepreneurs are ambitious problem solvers. They are willing to take risks, exchange services, and fulfill the wants and desires of others in exchange for compensation, reward, or money.

If you are an aspiring entrepreneur who wants to be successful, you must have the mindset to think outside the box. Because in entrepreneurship, there is no easy button. We'll talk more about that later. Right now, your thoughts are most likely on getting started. How can you get started and avoid the many trials and errors of the past? Many years ago, it took a lot to build a thriving business. It could easily wipe you out and leave you broken and destitute. It still can, especially if you don't have the right mentors, advisors, coaches, team players, and systems or processes to follow and ensure your success.

Entrepreneurs of old like Henry Ford, Thomas Edison, Andrew Carnegie, Matthew Boulton, Charles Wilson, and George Eastman succeeded through the challenges of trial and error. Some of those challenges almost broke them and forced them to quit. They persisted, succeeded, and left a vast wealth of knowledge, systems, and examples to follow. Their stories are told in books like Think And Grow Rich by Napoleon Hill and other such books that have been spoken of in high regard by men and women like Steve Jobs, Bill Gates, Anita Roddick, Arianna Huffington, Carlos Slim Helu, and Mark Zuckerberg.

Their lives, thoughts, and attitudes have inspired generations. There are over 582 million entrepreneurs worldwide (MARKINBLOG, 2020). Everyone has the ability to become an entrepreneur, especially you.

The question is, can you be successful as an entrepreneur?

Here are 3 tips and a quick lesson to help you understand the inner workings of a successful entrepreneur, get started, and succeed.

1. Develop A Winning Mindset

Anyone can become an entrepreneur, but not everyone will succeed.

So, why do some people succeed while others fail?

As we will discuss, getting started in entrepreneurship requires goal setting, choosing the right vehicle or business niche, and defining your business model. Some never make it this far. They give up too quickly. As an aspiring entrepreneur, you can become successful. What sets you apart – what will make you successful – is your mindset.

Your mindset will determine your success. It will influence how you see and perceive the challenges and opportunities that await. It envelops how you think, speak, and act. It is your attitude towards a situation or person. Some define it as a set of beliefs that shape how you see the world.

Here are 2 examples to help you develop a winning mindset:

Successful entrepreneurs with a winning mindset see their obstacles and difficulties as challenges to overcome. In overcoming these obstacles, they grow in knowledge and skill. They advance and elevate to a higher level. Unsuccessful entrepreneurs see obstacles and difficulties as signs they should quit or avoid going forward. They often say, "quit while you're ahead, better safe than sorry, or that was a sign telling me this endeavor wasn't right for me." If there are changes, the successful see those as opportunities to introduce new products and services. The unsuccessful see those changes as threats to their viability. Instead of adapting, they resist, whine, complain and often get left behind or stuck in a losing position.

2. Only Pursue Well-Established Goals

As an aspiring entrepreneur learning how to establish and set goals is essential to your success. Because without well-established goals, you can never win. Without well-established goals, all actions and activities seem correct and forward-progressing. However, this is not correct. Not all actions or activities are moving you closer to your destination. That's usually because you haven't clearly defined or established your goals.

The goal serves as your destination. It guides you to success. It helps you clarify what you aim to achieve. Having a goal enables you to enact plans. Your plans allow you to take actions that lead to your destination.   Successful entrepreneurs have multiple goals and objectives they work toward with persistence, planning, and action. You should do the same and only pursue well-established goals.

 3. Invest in Identifying the Right Vehicle or Business Niche

Again, anyone can become an entrepreneur, but not everyone will succeed. Another reason many aspiring entrepreneurs fail to succeed is because they select the wrong business vehicle or niche.

Discovering the right business vehicle or niche requires you to know yourself. It requires you to know what you're capable of doing both alone and with the help and support of others. It requires you to understand your natural gifts, talents, and abilities. And most importantly, it requires you to decide on your valuable product or service. That is the product or service you're willing to exchange or provide to others in return for compensation, reward, or money. Not discovering or deciding these things is a huge mistake many struggling and aspiring entrepreneurs make.

Failing to find your niche, discover yourself, or follow a proven process that helps you to do all of the above can lead to burnout, frustration, and depression. It's the number one reason most entrepreneurs fail. And it's most likely the reason you're still reading. You don't want to fail, and you don't have to. Invest in identifying the right vehicle or business niche before you get started. Find a program like the Powerhouse Motivations Think and Grow Rich Coaching program. One-on-one and small group coaching programs like this are designed to help you discover yourself, grow to your potential, and create businesses around your natural gifts, talents, and abilities. They're highly recommended for all dissatisfied, growing, and aspiring entrepreneurs. And for you, it might be precisely what the doctor ordered.

If you found the above information informative, inspirational, or helpful, here's another article you might like. Or if you're looking for a proven process or system to help you make the rest of your life the best of your life in six months or less, check out this article about the Powerhouse Process – it works!