bookmark_borderEntrepreneurial Mindset

Don’t worry if you don’t possess all of the above traits. Starting and running a business is an act of creation; a work in progress. You can learn as you go. To give you a head start, let’s take a closer look at some of the mental skills you might need to refine to ease your transition into self-employment.

  • Ability to work without supervision: You’re the boss now–nobody scheduling your time, telling you what steps to take next, what to do when things go wrong. You need to be able to prioritize your own work by differentiating between those tasks that must be done first and those projects that can be assigned back-burner status. To help keep yourself on track, make To-Do lists of all the things you need to accomplish: today, this week, this month. Then for each list, take time to analyze the steps necessary to complete each project, writing the steps down in the order they need to be done. Let these lists be your supervisor, your guide to accomplishing your goals.
  • Ability to self-motivate: Sometimes the temptation to slack off is irresistible. The sun is shining and you’d rather go to the beach; or it’s raining and you’ve got a stuffy nose and you’d rather stay in bed with a good book. It’s during these times that you must force yourself to stay on task, especially if you’re working against deadlines. To overcome this mental block, try using the reward system to motivate yourself: “When I get these invoices paid, I can go for a walk in the park” (or eat a bowl of chocolate fudge ice cream, or get a massage). Use whatever reward you need to help you get through the slump. But be sure to give yourself a reward because you don’t want to leave yourself feeling betrayed.

Another motivational tactic is setting a timer that buzzes or chimes when time’s up. Allocate a certain block of minutes to work on a project (notice I didn’t say “complete a project”–who wouldn’t cave in under that pressure?) and devote yourself to that task exclusively until the timer goes off. Then you’re free to start the next task on your list. I usually find that I’m “in the zone” when the timer goes off so I just keep working, but it’s liberating to know I don’t have to.

  • Ability to make quick decisions: We don’t always have the luxury of saying, “I’ll get back to you on that,” like when the delivery van breaks down and you’ve got to get two dozen centerpieces to a wedding reception that afternoon. You have to be capable of assessing a situation and coming up with a workable solution, quickly. The key is to stay calm, run through a mental list of your options, and determine which will be the most viable for that situation. Things happen, and if you allow your brain to overflow with panic, there isn’t room left for solutions-based ideas to formulate.
  • Ability to handle stress: Like in the example above, you need to stay in control of your emotions when things go wrong. Screaming at the delivery person who demands payment on the spot for a prepaid order isn’t going to get the product into your hands without paying for it twice. You need to identify the problem (in this case a misunderstanding with the supplier) and shift your mental processes toward solving the problem. It helps to look at the big picture too: a hundred years from now, will this be the catalyst that ended life on earth as we know it? If the answer is no, you probably don’t need to angst over it for more than a few minutes.
  • Flexibility: This one can be challenging, especially if we’ve got a fixed idea of what we want to do or a process for doing it. Then, when things don’t go as planned, we dig in, determined to make it work even if it kills us. Unless you’re willing to die for your plan, you need to be willing to entertain different ideas. Remind yourself often that entrepreneurship offers unlimited possibilities, and the greater your options, the greater your opportunities.
  • Focus: Determine what you want to do, the processes and resources required to do it, and the steps you’ll need to get it done, then set yourself to the task. Keep in mind that you’ll have to be somewhat flexible, as outlined in #5 above, including allowing for interruptions, but stay on task as much as possible. If a certain project feels overwhelming, try breaking it down into bite-sized chunks and focusing on just one chunk at a time. Your ability to complete projects on time and within budget heavily relies on your ability to focus.
  • Persistence: A lot of clichés about success are based on the ability to stick with a project: “If at first you don’t succeed, try, try again”; “Slow and easy wins the race”; “If it doesn’t work, get a bigger hammer” (okay, that last one is my dad’s favorite). The point is, the only way to guarantee failure is to give up. Conversely, the only way to ensure success is to keep trying. Understand however, that you must be willing to try different processes to achieve a goal if one or more other processes don’t work (see #5 above). Also, you may find that you have to reset your goals on occasion to keep your business moving forward.
  • Patience: This character trait is not only a virtue, it’s also vital to maintaining your sanity. If your business is to succeed, you need to be patient with yourself and with the progress you’re making in achieving your goals. Every day is a chance to learn and grow, so give yourself permission to make mistakes. Don’t beat yourself up over them. Just trust the process. Your future is unfolding at exactly the pace it needs to in order to provide you with everything you need.

bookmark_borderCharacteristic Of Successful Entrepreneur

  • Vision is a simple concept yet can be misunderstood. It is often a label we apply to great men and women that are often beyond the reach of our frame work of reality. So, its no wonder many people fail to recognise and perceive what vision is much less develop it for themselves. Vision as it pertains to being a successful entrepreneur is the capacity to see opportunity where others see problems. Its this function of the imagination to logically follow through in the mind logical outcomes manufactured from optimistic notions that leads to vision. Vision is used sparingly by most entrepreneurs because its simply not required alot. Most entrepreneurs have vision that leads to an idea for profit that eventually gets recycled and repeated in every project they take on. Vision is something that new entrepreneurs need to develop, however once that vision is acted upon and a successful project has been carried out the vision is re-used to repeat the success. Time is short and experimentation is risky, one most successful entrepreneurs have some success, they tend to build on it rather then dabble in new areas.
  • Skills can be learned by virtue of the fact that a skill is defined as a series of actions designed to produce a singular result. Skills are the backbone of success. But they are certainly not exclusively responsible for success. Skills should be picked up as you go because as an entrepreneur, your capacity to pick something up and learn quickly how to get it to work is usually a natural innate capacity. Entrepreneurs are naturally a curious and inventive bunch that like to dabble which means they know how to get involved in things in the right way.
  • Tools of the entrepreneur are many and varied. Each entrepreneur fashions or finds his own tools relevant to the markets they operate in and the projects they pursue. Tools generally come as a result of needs. Entrepreneurs usually have the tendency to “monster” projects. By that I mean they prepare up to a point, however its the intention to get through the task with efficiency and speed. This attitude to monster through things eventually leads to finding better tools to handle certain tasks more efficiently and quickly.

bookmark_borderEntrepreneurs of the Underground Railroad

History is one of greatest places to search for answers to understand our world today. The Underground Railroad, one of the most interesting stories of American history is an amazing story of courage and leadership, and it tells one of the most compelling stories of entrepreneurship. The Underground Railroad marks the first time in American history, as a major movement, that Blacks and Whites came together and took risks to complete a mission.

According to Dictionary.com, an entrepreneur is “a person who organizes and manages any enterprise, usually with considerable initiative and risk.” Brett Nelson in his Forbes.com article, “The Real Definition of Entrepreneur-And Why It Matters”, defines it thusly: “Entrepreneurs in the purest sense, are those who identify a need-any need-and fill it. It’s a primordial urge, independent of product, service, industry, or market.”

Entrepreneurs are those who set out to transform society. They are serial problem solvers. Some of the most incredible entrepreneurs of our history are those who set out to solve one of America’s biggest problems: slavery. Exporting cotton, along with other commodities, was business. Slaves were free labor. Abolition was a societal shift to disrupt a corrupt market. The organization was the Underground Railroad, a network of slaves, abolitionists, business owners, and politicians.

The Visionary, A Woman Called Moses

“Every great dream begins with a dreamer. Always remember, you have within you the strength, the patience, and the passion to reach for the stars to change the world.”

-Harriet Tubman

Entrepreneurial endeavors begin with the heart. It takes a leader with grit to stand out from the crowd, and before becoming a leader with a following, they are visionaries with an idea to bring to the world. They are not blinded by the limits around them; they can see the outcome before it happens. Harriet Tubman was a visionary. Her mission to free slaves was clear, and her leadership was impeccable, making her one of the greatest entrepreneurs to ever live, a pioneer, a force toward the abolition of slavery in America.

Facing fears: Tubman took a stand against slavery in the worst of conditions.

Overcoming failure: She initially failed twice while trying to escape slavery.

Courage: She showed incredible persistence. She even went back to free her family, and freed several other slaves by escaping with them to freedom.

Sacrifice: She traded in her most prized possession, a quilt, for information on the Underground Railroad.

Passion: She burned with desire to achieve her mission, and still she was disappointed, believing she could have freed more, when she died many years later.

Leadership: Harriet Tubman inspired others not only to follow, but brought out the leader in many as well. She did not lead for power; she was a relentless force against slavery from the position of a servant.

Determination: She had an incredible drive coupled with efficiency toward success.

“I’ve never ran my train off the track and I’ve never lost a passenger.”

-Harriet Tubman

The Investors, Men Who Believed in the Dream

“Friend, I haven’t a dollar in the world, but if thee knows a fugitive who needs a breakfast, send him to me.”

-Thomas Garrett

Entrepreneurship takes a team; success is not achieved alone. Often the people behind the scenes give a substantial rise to the growth of an organization. Dr. Martin Luther King, Jr. had Ralph Abernathy. Walt Disney had Roy Disney. Without Roy Disney, the financial expert and partner of his brother Walt, we would never have experienced the motion picture of Snow White, and thus never heard of Walt Disney.

Harriet Tubman had Thomas Garrett.

Finances, gifts, and skills keep a movement progressing forward. Tubman had a vision, the work ethic, and the drive to lead in the Underground Railroad movement. But, she needed fuel; she needed a team.

Thomas Garrett was a Quaker born into prosperity. He was motivated to participate as an abolitionist. A stationmaster in the last stop for slaves trying to gain their freedom on a route to Pennsylvania, he helped thousands by supplying housing, money, shoes, and even physical and legal defense of Blacks escaping from the South. Garrett provided the means for Tubman to free her own parents from slavery. Upon his death, he was acknowledged with the highest regard by those he served. They honored their leader by carrying his body to a final resting place.

William Still was another investor in the Underground Railroad. He gave of his time and money, and housed many Blacks escaping to freedom. He was the “Father” and the “Bookkeeper” of the movement, keeping careful records of facts, authentic narratives, and letters.

While names like Garrett and Still are lightly whispered in history, without them and the sacrifices of thousands of others, the Underground Railroad would have failed as an unrealized dream.

The Evangelists: Carrying the Mission, Creating Permanent Change

“Little boldness is needed to assail the opinions and practices of notoriously wicked men; but to rebuke great and good men for their conduct, and to impeach their discernment, is the highest effort of moral courage.”

-William Lloyd Garrison, Journalist

“I was broken in body, soul, and spirit. My natural elasticity was crushed, my intellect languished, the disposition to read departed, the cheerful spark that lingered about my eye died; the dark night of slavery closed in upon me; and behold a man transformed into a brute!”

-Frederick Douglass, A Narrative of the Life of Frederick Douglass, An American Slave

“I do order and declare that all persons held as slaves within said designated States, and parts of States, are and henceforward shall be free.”

-Abraham Lincoln, The 16th President of the United States

In life, and on our entrepreneurial journey, there are people that come along side our mission to give us “the big break.” More well-known than Garrett, William Lloyd Garrison was one of the most famous White abolitionists. Garrison was a pivotal participant in the success of the Underground Railroad paving the way, in the public sector and through media for our evangelist of the mission, Frederick Douglass.

Douglass, born a slave, was a bridge between the voice of Blacks seeking freedom and politicians willing to support the radical change of emancipation. Douglass was a firm believer in the equality of all people, whether Black or White, male or female. His voice and actions complimented the vision of Tubman. His mark in history transformed the movement of freeing slaves into making slavery illegal.

Douglass knew that truly breaking free was only possible when slavery was no longer an option. When he first met Abraham Lincoln it was apparent both men shared more than just an idea, they shared an obsession for freedom. Their first meeting was the start of a relationship in which a former slave influenced the President to lead a national change for the freedom and equality of all people.

Unfortunately, slavery of Blacks cannot be erased from our history, but by the efforts of thousands across hundreds of years, it was abolished from our future.

As I read history, I find the majority of people in each era are blinded and guilty of justifying the slavery of their time. The greatest murderer of a person’s soul is the indifference in his or her own heart.

Entrepreneurship is a movement toward freedom from the shackles that limit us. It is more than a song to be sung. It is more than a proclamation to be shared. It is liberating ourselves while freeing others.

bookmark_borderInfo of Envisioneering

To be an envisioneer, you must: first have the courage to look into the future with the recognition that there is nothing there yet, except that which you imagine; and then, the force of will to imagine a personal ideal; and then, the impertinence to believe in that imagined ideal as being more real than all that has come before or exists in this present moment. In short, you must be an idealist.

Each of us is educated to be a realist, to deal with things as they are, to see the world as it is and to ‘realistically’ go about making our way within what already exists, to be a creature of event and circumstance. Those who decide to shape events and circumstances to match what they envision are the idealists. They end up as the movers and shakers, the leaders, the ones who create innovation, the future and ultimately, history. The employee is a realist. The entrepreneur is an idealist.

We may aspire, in our hearts, to be prosperous, to be fulfilled, to live a life of purpose and passion. To exist, in our minds, as a realist makes it almost impossible to succeed in achieving these ideals. We must learn to become idealists, to practice the art of creative envisioneering, if we are to have any hope of making real our ideals.

The main contrast between the realist and the idealist is that the realist sees with his eyes open and the idealist sees with his eyes closed.

Realists rely upon the definite. Idealists rely upon the infinite. Realists live in a world of cause and effects. Idealists live in a world of causal and effectual. Realists say, ‘I’ll believe it is real when I see it.’ Idealists say, ‘I’ll see it as real when I believe it.’ Realists rely upon the evidence of their senses. Idealists rely upon the evidence of their imagination. Realists are reactors. Idealists are creators.

It is often said that idealists are out of touch with (physical) reality. But, it is the realists who are the ones who are out of touch with the greater (metaphysical) reality; and idealists are the ones who mold and shape our future reality. They are envisioneers; creating the future they imagine; living their dreams; enacting their inner vision; using the metaphysical principles to form the physical actualities. Realists say… impossible. Idealists say…I’m possible.

Idealists (envisioneers) create the future that the realists end up (by default) living in, having no choice but to cope with the existing reality, while the envisioneer is still busily creating a new dream. If you want to live the life of your dreams, you must become an envisioneer and learn to ignore the comfortable constraints of reality.

Wisdom is the understanding that what you know is nothing at all and what you imagine is everything else. Reality is a crutch for the unimaginative. The envisioneer has taught himself to believe in what is imagined more than in what is existent.

bookmark_borderEntreprenurial or Workaholic

We are creative by our very nature, it’s in our genes. Applied intelligence equals creativity. Intelligence takes on many forms. So this creates a new question:

Where is your definition of a workaholic more likely? One living in passion or one living in isolation and fear?

The True Entrepreneur is one that I witness their values, passion, and whole way of being aligned with what they do. In this way, the entrepreneur is just being. The business, the vocation, the passion, the purpose, the values, interests, etc. are all a part of who the individual is.

Externally, I don’t think anyone could casually observe a difference between a workaholic and this entrepreneur. However, the individual knows. Deep down inside, the answer is known and typically the individual will turn away from acknowledging that truth and rationalize sticking to their tried and true behavior. The tried and true is comfortable. To admit the truth requires change and change is uncomfortable.

Many people welcome change in their external environment and consider themselves capable and open to change. Unfortunately, for most the relationship to the inner self is one of fear; there’s a whole can of worms that gets opened when we start doing the inner work. Knowing this, on a gut level, our subconscious quickly reverts to the tried and true. It’s hard work to change.

The good news though, is that many entrepreneurs have the ability to see what is happening around them. This ability is what makes entrepreneurs visionary go-getters. However, this does not exempt entrepreneurs from getting caught-up in their business to the detriment of a well-balanced life.

A well-balanced life is more powerful than the hard work that you put into a business. A well-balanced life feeds the brain, the spirit, the emotions, and the body. In creating the space for relationship, recreation, and rest, the benefits experienced will offer stronger focus, greater creativity (beneficial for problem-solving and decision-making), greater self-esteem, and mental/emotional/physical health. Knowing this, choices are made.

If incorporating a well-balanced life would allow you to achieve the same amount of output in 60 hours versus the 80 hours of perseverance, which would you choose?

The other thing entrepreneurs have difficulty with is learning when to say, “No.” and when to say, “That’s enough.” Always after a new conquest, a new experience, a new peak, and new challenges, an entrepreneur can get all that energy too caught up in the business arena. This will lead to the very thing you fear. Instead, split this energy to have a well-balanced life. Achievement will be far richer in the relationship arena and the personal growth arena.

bookmark_borderEntrepreneurial Capitalism

A meta-analysis of extant academic literature suggests income inequality is persistent in both developed and developing nations in spite of demonstrable and significant economic growth. There are many theoretical, structural and empirical reasons for the widening gap between return to capital and labor on one hand, and compensation to management and workers on the other. For example, capital tends to be more productive, more mobile and receive very favorable tax treatment than labor in many jurisdictions.

Further, global competition, innovation, slower productivity growth, and marginal rate of technical substitution may be depressing wages even in developed nations. Moreover, the benefits of globalization continue to accrue more unevenly to highly skilled labor than to low skilled labor. Finally, periods of economic growth tend correlate with increasing income inequality because different economic sectors as well as individuals do not grow at the same pace.

As we have already explained in many publications on this topic, human capital analysis deals with acquired capabilities which are developed through formal and informal education at school and at home, and through on the job training, experience, and mobility and longevity in the labor market. Please note that nations as well as individuals are portfolios of distinctive competencies that derive from resources and capabilities. Many nations in the developing nations have plenty of resources but lack capabilities-the ability to put them to productive uses.

Clearly, mere possession of resources alone is a necessary but not a sufficient condition for economic development. Functional human capital that manifests in enhanced productivity and innovation is the critical and strategic link between resources and economic development. A preliminary analysis of macroeconomic data indicates that the problem of economic stagnation is not peculiar to developing nations nor confined there. Indeed, for many years in developing nations such as Nigeria, significant percentage of all graduates from institutions of higher learning are underemployed, have contract jobs with no employment benefits or no jobs at all even after the National Service and certification.

Many labor market experts and social observers are apt to point to the glaring lack of requisite knowledge and employable skills in high demand. While this may be true, lack of functional education that leads to employment is only part of the problem. There is significant and gathering empirical evidence suggesting that many of the employed university graduates in Nigeria go without pay or regular compensation for extended periods of time and still others are on contract employment with meager income and no employment benefits or guaranteed ongoing employment.

Before you postulate that skills acquisition is neither a panacea nor the fastest way to employment, please note that employable knowledge and skills are necessary but not sufficient condition for social mobility. This explains in part why many graduates from Colleges of Education and Technical Colleges in very high demand in tightening labor markets do not fare significantly better than those from Liberal Arts or even Business and Engineering Schools.

Therefore, the purpose of Skills Acquisition projects adopted by the Okwelle Skills Acquisition Center (OSAC) is to help graduates and entrepreneurs take effective steps toward functional education, knowledge and skills acquisition, self-employment, self-reliance and financial independence. As sure paths to the middle class and upward social mobility, any knowledge and skills acquisition project must focus on producing entrepreneurs-a crop of graduates with burning desire for self-employment, self-reliance and financial independence. The graduates must not only have requisite knowledge and skills of their specific trade but must be entrepreneurs who are business savvy with demonstrable grasp of business management knowledge and skills. Please note that all entrepreneurs are business owners but not all business owners are entrepreneurs.

Entrepreneurs are special breed of business owners that assume every risk in pursuit of profit and financial freedom. Without the entrepreneurial class other factors of production-land, labor and capital including technology remain dormant and are classified in our profession-financial engineering as non-performing assets. As some experts aptly put it, once you decide to work for yourself you never go back working for someone else. Generally, people do not plan to fail, they simply fail to plan. Additionally, freedom whether spiritual, economic or political is indivisible and must be pursued relentlessly. The passionate drive toward financial freedom is the critical difference that sets entrepreneurs apart.

bookmark_borderGenerating New Ideas for Entrepreneurs

  1. Focus Groups – these are the groups of individuals providing information in a structural format. A moderator leads a group of people through an open, in-depth discussion rather than simply asking questions to solicit participant response. Such groups form comments in open-end in-depth discussions for a new product area that can result in market success. In addition to generating new ideas, the focus group is an excellent source for initially screening ideas and concept.
  2. Brainstorming – it is a group method for obtaining new ideas and solutions. It is based on the fact that people can be stimulated to greater creativity by meeting with others and participating in organized group experiences. The characteristics of this method are keeping criticism away; free wheeling of idea, high quantity of ideas, combinations and improvements of ideas. Such type of session should be fun with no scope for domination and inhibition. Brainstorming has a greater probability of success when the effort focuses on specific product or market area.
  3. Problem inventory analysis- it is a method for obtaining new ideas and solutions by focusing on problems. This analysis uses individuals in a manner that is analogous to focus groups to generate new product areas. However, instead of generating new ideas, the consumers are provided with list of problems and then asked to have discussion over it and it ultimately results in an entirely new product idea.

The entrepreneur is not limited by only the three methods presented in this article. There are other creative problem solving methods and techniques that are also available.

bookmark_borderTips for Would-be Entrepreneurs

I have seen them and nature in the raw is truly an awesome sight!

It doesn’t matter whether you are a gentle deer, a greedy pig or an armor-plated alligator–survival depends on your ability to move fast!

When you see what looks like an opportunity, you must grab it quick.

But even if you don’t grab it, the opportunity will not be wasted because someone who is hungrier that you surely will.

We all make mistakes. That’s how we learn.
Consider these some tips for Would-be Entrepreneurs:

  • Be constantly on the lookout for moneymaking opportunities.
  • Trust your intuition. If it looks like a good opportunity–grab it.
  • Nothing ventured. Nothing gained. Big risk means big reward.
  • Be willing to take carefully calculated risks.
  • When you have little to lose and much to gain–go for it!
  • Think big but start small.
  • Never invest more than you can afford to lose.
  • Keep your day job and get paid while learning.
  • Work for yourself evenings and weekends.
  • Don’t leave until your part-time earnings equal your weekly wage.

Sometimes, the opportunity you grab may not live up to it’s promise. Occasionally you may even lose all the money you invested in it.

bookmark_borderSteps to Entrepreneurship

Spotting Opportunities

The first step to entrepreneurship is identifying opportunities. The entrepreneur must be able to spot an unmet need. Oftentimes this need is seen through an inefficiency in the market – something that doesn’t work quite the way the entrepreneur would like it to. As a result, the entrepreneur figures out a potential solution and the opportunity is born.

Assessing Opportunities

Many entrepreneurs keep a journal that details the myriad opportunities they come across each day. While it takes a creative skill set to identify opportunities, it takes an analytical skill set to assess them. Each opportunity should be assessed to, among others, determine its likelihood of success and the financial and human resources required to execute upon it.

Selecting Opportunities

One of the biggest risks in selecting the wrong opportunity is opportunity cost; that is, the cost of having to forego another opportunity which may have been wildly successful. Entrepreneurs should assess their potential opportunities and come to a firm decision regarding which one to execute upon. Once selected, the entrepreneur cannot second guess themselves. To do so would lessen their focus and drive towards the selected opportunity, both of which are critical in achieving success.

Executing Upon Opportunities

Execution, or the ability to generate the most value out of an opportunity, requires a unique combination of creativity, passion, persistence, focus, responsibility, intelligence, planning and energy. The entrepreneur needs to know what tasks must be accomplished and be the main driver in seeing that these tasks are completed in an appropriate manner.

bookmark_borderTraits of an Exceptional & Successful Entrepreneur

  1. Successful Entrepreneurs Gain the Respect of their Peers. One of the first and most obvious characteristics you’ll see operating in an exceptional entrepreneur is an equitable and unbiased disposition . Plain and simple the successful entrepreneur recognizes that no one is above or below. With an attitude of respect for others, the successful entrepreneur gains the respect from everyone they encounter. Strategies, attitudes and methods filter down to each person and reflect on all actions and activities. A successful entrepreneur gives everyone the space to be great. No matter how effective or beneficial your expertise, becoming a successful entrepreneur requires building up of your character muscles, traits and habits, which correspondingly make your dreams a reality.
  2. Successful Entrepreneurs Believe and Trust in Themselves. The savvy entrepreneur is good at trusting his or her own ideas and instincts. Starting out as an entrepreneur requires persistence, determination and a high level of self-discipline. Continuing as a successful entrepreneur requires even more persistence, determination and self-discipline. The wise and successful entrepreneur knows this and works hard at developing their level of confidence. If you have a strong code of ethics and believe in yourself, then your ideas can work. Having the desire and passion are the first steps on your journey; getting there requires believing in yourself.
  3. Successful Entrepreneurs Follow a Plan. The successful entrepreneur follows a plan. Haphazard or trial and error have no place for the triumphant entrepreneur, for no one gets to his or her destination without a map or a guide to follow. That doesn’t mean you won’t go off course if another road seems better, but it’s still more effective to have a plan in place. Most successful entrepreneurs start out by writing a basic business plan that acts as the impetus and guide for their endeavors. It doesn’t have to be fancy or lengthy but it should include marketing strategies, goals, intentions, ideas and why you can do better than your competition. A business plan should be reviewed and updated periodically for each new idea stirs and inspires other ideas.
  4. Successful Entrepreneurs Think Creatively. Successful entrepreneurs are not afraid of thinking creatively. Whether a business idea has already been tried makes no difference to the exceptional entrepreneur. He or she sees better ways of doing things and knows that every idea can be expanded upon, made better, enhanced or broadened . The successful entrepreneur is willing to think outside or the proverbial box, which means using imagination, trying new things and expanding on a vision. The savvy entrepreneur pays careful attention as to whether a particular strategy is working. If after giving it his or her best shot the entrepreneur realizes the particular strategy isn’t working, they know there’s no point in continuing to invest energy, time and effort in the strategy. They move on to another approach and idea.
  5. Successful Entrepreneurs Explore Their Exceptional Skills. Successful entrepreneurs realize that we each have our strengths and weaknesses as well as a multitude of skills and talents. Successful people ask themselves often what skills they have that no one shares in quite the same way. An exceptional and successful entrepreneur explores their particular skills until they find the ones that match most closely with their ideal. They don’t try to be and do everything. If the successful entrepreneur needs help, they’re willing to find someone who can do it better, and allows in the support. The successful entrepreneur stays open to change for they recognize that as they move forward, doors open in unexpected places that carry them to their next level of success.