Some people succeed at being an entrepreneur; others don’t. That’s all there is to it – some people have a knack for innovation and making money doing it says Paul Haarman. Most successful entrepreneurs share certain qualities which allow them to keep going in the face of adversity, be creative, remain enthusiastic about their project or product, work hard and stay focused on success. While these traits are not necessary for being successful as an entrepreneur, they sure do help.
Everyone thinks of Thomas Edison when they think of the word “inventor.” They often forget that he started as a humble telegraph operator before going off on his own and changing history. He didn’t always invent something new. Sometimes he bought old inventions from other folks who couldn’t make them profitable enough to continue working on them; turned those inventions into products people wanted to have, and made money doing it. Edison is the exception to this rule; most people who try their hand at innovation fail (which is why you’ll find several hundred patents for every one of Edison’s inventions).
The same applies to entrepreneurship. A lot of people don’t succeed because they don’t know what they are getting into. Others get halfway through their plan and hit a brick wall, while some just never got started in the first place (because they didn’t want to). Paul Haarman says if you’re considering becoming an entrepreneur, then do yourself a favor by learning from other entrepreneurs who have failed or succeeded before you get started with your project or business idea.
The following are some things that successful entrepreneurs all seem to have in common:
- They take the time to learn about their industry and competitors.
- They work hard, stay humble, and keep their eye on the ball (i.e., their successful end-goal).
- Also, They get out of bed every morning with a smile on their face; they love what they do for a living.
They Study Industry Trends and Competitors
Successful entrepreneurs study trends in consumer demand, market conditions, and other information, allowing them to understand better how to improve upon current products or services, come up with new product ideas, or perhaps even invent a brand-new product altogether. If you spend enough time learning from your competition, you can find ways to offer something different from them that your customers might find more attractive.
Successful entrepreneurs also keep a close eye on their competitors to see what they’re up to. How efficient their operation is, and what products or services they offer. If you get any ideas from them, you can have a head start on providing something new or better yourself. Some business people take the approach of being so different from other businesses in their industry that they corner the market on whatever product or service they choose to sell.
The best entrepreneurs are those who avoid spending too much time looking over their shoulders at their competition. It’s not about trying to be better than them; it’s about providing an alternative to give consumers another choice, so no one feels forced into buying something just because everyone else is doing it.
They Work Hard and Stay Humble
As per Paul Haarman successful entrepreneurs almost always work long hours. This is not a job you can show up to every day at 9:00, clock out at 5:00. Call eight hours of your time. Some days they might come in early, stay late, and go home in the middle of the afternoon. Just to do more work there than they would be able to do where everyone else could see them. It doesn’t matter if these people take off for weeks or months at a time; when they return and look over their business dealings. While taking into consideration all that has occurred during their absence, this person will quickly become busy again. Make sure everything is still moving according to plan instead of letting things slide.
An entrepreneur’s day is often filled with an endless stream of meetings, phone calls, emails, and tasks to be completed. It’s a busy job that usually involves being on the go almost all day, every day. They have no time for small talk or gossip because they’re too busy working on their next goal or project. Successful entrepreneurs don’t take days off just to sit around the house wasting their lives away doing nothing productive; they live by the philosophy that you either work hard now or work twice as hard later trying to catch up.
Successful entrepreneurs also tend to be very humble individuals who are consistently looking for ways to improve upon what they do. Even if those improvements aren’t necessarily noticeable from an outsider’s point of view says Paul Haarman. They don’t feel they have all the answers and will readily admit. When they’ve made a mistake or misjudged a situation. This may be annoying to those who quickly jump on opportunities. That arises to take advantage of someone else ‘s errors. But this person does not concern themselves too much with what others think of them.