{"id":3085,"date":"2018-10-07T17:40:50","date_gmt":"2018-10-07T14:40:50","guid":{"rendered":"https:\/\/www.lending-express.com\/blog\/?p=3085"},"modified":"2019-02-06T11:38:36","modified_gmt":"2019-02-06T09:38:36","slug":"how-to-become-a-successful-entrepreneur-7-must-follow-steps","status":"publish","type":"post","link":"https:\/\/www.become.co\/blog\/how-to-become-a-successful-entrepreneur-7-must-follow-steps\/","title":{"rendered":"How to Become a Successful Entrepreneur  &#8211; 7 Must-follow Steps"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">What is an entrepreneur?<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Breaking it down to its simplest form, an entrepreneur is someone who identifies a gap in the market and does everything they can, to fill that gap. Entrepreneurs make their own decisions, actualize their visions and allow them something far more satisfying than money &#8211; the ability to build things and watch them grow. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span>According to Dictionary.com, an entrepreneur is <span style=\"font-weight: 400;\">\u201ca person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Before you jump onto that crazy idea that you\u2019ve had brewing in the back of your mind, consider if you have what it takes to be a successful entrepreneur. The first thing you\u2019ll need to establish is whether you <em>think<\/em> like an entrepreneur. Some say that entrepreneurialism runs in your blood and is something that cannot be taught. But, that\u2019s not to say that it cannot be encouraged. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here we\u2019ll take you through 7 must-follow tips to become a successful entrepreneur.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">1. Think like an entrepreneur \u00a0\u00a0<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Always think ahead and think BIG &#8211; successful entrepreneurs have huge vision.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">To succeed in business you will need to <\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Always <\/span><b>persevere <\/b><span style=\"font-weight: 400;\">&#8211; even when others are trying to slow you down. Be proactive<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Be a <\/span><b>go-getter <\/b><span style=\"font-weight: 400;\">&#8211; go get em\u2019!<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Don\u2019t fear failure <\/b><span style=\"font-weight: 400;\">&#8211; failure is an inevitable part of becoming an entrepreneur, and as a matter of fact, 20% of founders who failed on their first startup, succeeded on their second! \u00a0Probably because they were lacking the above 3 qualities. <\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">2. Find something that&#8217;ll get you out of bed<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you don\u2019t absolutely love what you do and there\u2019s no burning passion behind your vision, and the gut-wrenching need to see it through, then it\u2019s very unlikely that you\u2019ll succeed. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">As an entrepreneur, you\u2019re going to have many sleepless nights and have to put in a tremendous amount of effort to build something from the ground up. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s simple, if you\u2019re not passionate about what you do, you\u2019ll lose motivation. So be sure to find that something before you leap for the sake of leaping. Have you found something you are passionate about? <\/span><\/p>\n<p>&nbsp;<\/p>\n<blockquote><p><span style=\"font-weight: 400;\">You may be interested in this: <\/span><a href=\"https:\/\/www.become.co\/blog\/5-signs-you-know-youre-ready-to-start-your-own-business\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">signs you\u2019re ready to start your own business<\/span><\/a><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">3. Be an optimist<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Sorry pessimists, but there\u2019s no room for you here. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Becoming an entrepreneur means taking risks. But in order to become a <\/span><i><span style=\"font-weight: 400;\">successful <\/span><\/i><span style=\"font-weight: 400;\">entrepreneur, you\u2019ll need to understand the risks you should and shouldn\u2019t take &#8211; which, unfortunately, is a learning curve. Some people are naturally good at making these sorts of decisions, others, go through a steep learning curve.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Either way, you\u2019ll need to remain optimistic and know that even if something doesn\u2019t work out, you\u2019ve now learned from this mistake and can use this new information to move on. <\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">4. Learn how to hire the right people<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Start by getting a great partner. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">here\u2019s a lot of research and many opinions about how many CEO\u2019s is too many, and what is the optimal combination to have a successful startup?<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Research has shown that startups are more than doubly likely to succeed when there are two founders as opposed to one. Adding in a third or fourth in our opinion will open the doors to a lot of politics where 2 could gang up on the third etc. The thought \u2018too many cooks in the kitchen\u2019 springs to mind. That\u2019s not to say that there aren\u2019t plenty of successful startups with 3 or 4 founders or that being a single CEO will lead to failure. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Overall, having a second opinion and set of hands, especially in the early stages of your business, can really help. And if you really do want to go at it alone, you\u2019ll definitely need to hire some employees to help you out. Be sure to fill your team with people who believe in your vision, and have great character &#8211; very important at the early stages. Remember, you can teach people skills, but you can\u2019t change someone\u2019s character. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span> <span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-3088 \" title=\"Becoming an entrepreneur\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/good-vibes-only.jpg\" alt=\"\" width=\"420\" height=\"420\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/good-vibes-only.jpg 612w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/good-vibes-only-150x150.jpg 150w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/good-vibes-only-300x300.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/good-vibes-only-270x270.jpg 270w\" sizes=\"(max-width: 420px) 100vw, 420px\" \/><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\nBy filling your team with positive vibes and determined individuals, you\u2019ll surely be setting yourself up for success.<br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">5. Successful entrepreneurs are doers &#8211; be a doer!<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Elvis was spot on, \u201ca little less conversation a little more action\u201d. Talking only delays action. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re wondering how to become a successful entrepreneur, stop wondering and start doing. It\u2019s easy to get weighted down by planning and researching (though of course important), talking, meeting and blah blah blah. The problem arises when you start talking about the same things over and over, running in circles without taking a decision. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Take a decision and go for it. If you want to know how to become a successful entrepreneur, you\u2019ll need to stop wondering how and simply start doing &#8211; you\u2019ll learn along the way. <\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">6. Focus on one thing at a time<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Are you a tab collector? If you\u2019ve currently got way too many tabs open and are attempting to get a number of pieces of work done, <\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; while responding to your emails<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; while keeping up with social media <\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; and while texting your loved ones <\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; you\u2019re a multitasking tab collector &#8211; and when it comes to being successful and productive, this isn\u2019t necessarily a good thing. <\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-3089 size-large\" title=\"how to become a successful entrepreneur \" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-475417253-1024x705.jpg\" alt=\"\" width=\"640\" height=\"441\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-475417253.jpg 1024w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-475417253-300x207.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-475417253-768x529.jpg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-475417253-392x270.jpg 392w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s estimated that only <\/span><a href=\"https:\/\/www.psychologytoday.com\/intl\/blog\/brain-trust\/201202\/is-your-brain-multitasking\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">2% of the population<\/span><\/a><span style=\"font-weight: 400;\"> are actually successful at multi-tasking. In other words, try focusing on <\/span><i><span style=\"font-weight: 400;\">one <\/span><\/i><span style=\"font-weight: 400;\">thing at a time, and watch as your productivity soars. \u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Being an entrepreneur, your life will feel like a hundred and one things are all happening at once, and though multitasking is an important factor, it\u2019s more important to maximize your time by focusing and completing one thing at a time. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In fact, the <\/span><a href=\"https:\/\/www.apa.org\/research\/action\/multitask.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">American Psychological Association<\/span><\/a><span style=\"font-weight: 400;\"> (APA) found that 40% of productivity can be lost by simply switching tasks &#8211; even if it\u2019s just glancing at your email. While important to promptly answer your emails, there\u2019s no need to get back to people within 2 minutes. Finish the task your on and create time allocations in your day specifically for emails to increase your focus. <\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">7. Plan your finances<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">MONEY. Although it isn\u2019t all entrepreneurs goal to make money, many wish to simply fill a void and find satisfaction in growing a business from nothing, money is used to measure success and at the end of the day, you\u2019ll need some money to make more of it. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Many entrepreneurs will start off by using their very own savings, or that of their family\u2019s which is risky business and not an option for everyone. Make sure you have a well-thought-out plan and consider getting your funds from a variety of sources to minimize the risk. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>You can get business funds from a mixture of:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Savings<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Family and friends (though head caution here and get everything in writing)<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.become.co\/business-loans\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Business loans<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.become.co\/start-up-loan\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Start-up loans <\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Credit cards<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Become can help you to find the best funding to suit your needs. From startup loans to business loans, <\/span><a href=\"https:\/\/www.become.co\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Become <\/span><\/a><span style=\"font-weight: 400;\">has over 35 lending partners and be given a tailored funding plan. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">We hope you found these tips to become a successful entrepreneur useful. If you have anything to add, please feel free to tell us in the comments below. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h6><b><i>Disclaimer: The information contained in this article is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The author accepts no responsibility for any consequences whatsoever arising from the use of such information.<\/i><\/b><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>What is an entrepreneur? &nbsp; Breaking it down to its simplest form, an entrepreneur is someone who identifies a gap in the market and does everything they can, to fill that gap. Entrepreneurs make their own decisions, actualize their visions and allow them something far more satisfying than money &#8211; the ability to build things [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3090,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,114,1,12],"tags":[],"class_list":["post-3085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aus-resources","category-small-business-wisdom","category-uncategorized","category-us-resources"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Become a Successful Entrepreneur - 7 Must-follow Steps - Business Funding Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.become.co\/blog\/how-to-become-a-successful-entrepreneur-7-must-follow-steps\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Become a Successful Entrepreneur - 7 Must-follow Steps - Business Funding Blog\" \/>\n<meta property=\"og:description\" content=\"What is an entrepreneur? &nbsp; Breaking it down to its simplest form, an entrepreneur is someone who identifies a gap in the market and does everything they can, to fill that gap. 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