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Key to Entrepreneurial Success

Building a successful business is not some great mystery. It’s not about coming up with a revolutionary new product - building a better mousetrap if you will. It’s not about being smarter or better or luckier. It’s not about learning some secret marketing strategy that only the top people know about.

Being a successful entrepreneur is fairly simple. It’s about understanding some business basics, having the right attitude and consistently doing the work necessary to succeed.

Some keys to successful entrepreneurship are:
Having a product or service that’s good –
not necessarily the best, but good enough to provide value and satisfaction to the customer.
Having a plan – a business and marketing plan - and working towards this plan every day – even when the going gets tough, even when you’re scared out of your pants.
Having a larger vision, a vision of how your business and your life can be better – more rewarding, more interesting, more exciting.
Having a belief in yourself and your goals. No matter what roadblocks or setbacks turn up, you keep going forward because there’s no turning back. Even when you have doubts – and everyone does – you keep believing in yourself and your goals because these is no other option.
Knowing when to ask for help. In fact, the most successful entrepreneurs I’ve met all have colleagues, coaches, mentors, or boards of advisors helping them along the way. They also know when to hire outside help: accountants, webmasters, graphic designers, VAs.
Knowing what makes your business different and who your ideal clients are. It’s also being brave enough to turn away from less than perfect customers.
Investing in your business by getting training, hiring contractors, paying for marketing, buying equipment. It’s also about not spending money foolishly.

Contributed by desmondl on April 10, 2008, at 9:24 PM UTC.

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This intel was contributed by desmondl

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