5 Factors Entrepreneurs Must Possess To Create A Successful Startup

Elvis Presley once said, “Ambition is a dream with V8 engine.” This quote sums up the life, drive, and energy of all entrepreneurs. Elvis started singing and trying to make it in the music business long before his first recording. His drive and desire to sing helped him through the difficult years that occurred prior to his successes. This drive and dedication is the hallmark of all entrepreneurs whether their startup is successful or not.

The article, “7 Steps may bring out your entrepreneurial diva”, provided ideas that would assist in bringing out ones entrepreneurial spirit. “The One Word Entrepreneurs Do Not Say” focused on the dedication an entrepreneur exhibits in creating a startup. There are factors that set entrepreneurs apart from the crowd. Not everyone will understand entrepreneurs and some consider entrepreneurs strange. However, without entrepreneurs new companies, products, services, and increased number of JOBS never come about.

Everyone has the factors that define entrepreneurs. The difference may be in the degree to which the factors encompass the life of the entrepreneur. Which of the following do you possess?

1. Dream: Dreams are extremely important to creativity and imagination. New concepts for business opportunities often arise from dreams. Dreams that are more grandiose require greater risk and effort to convert them to a reality. All entrepreneurs create startups based on a dream that forms the basis of a business they would be excited to create.

2. Work: Starting a business takes a large effort and extensive planning. There are no set hours and startups are not 9 to 5 jobs. Entrepreneurs spend all their waking hours thinking about the activities needed to make their startup a success.

3. Drive: Startups have difficulties like most everything else in life. The bad days require extra energy and effort to overcome problems and survive until the next day. The drive to continue working when one becomes tired and the enthusiasm wanes is all that gets an entrepreneur through some days.

4. Focus: Entrepreneurs learn to develop a laser like focus on the end goals. Their ability to recognize the key factors required to achieve the desired targets improve as the company develops. Failure to develop the focus required may lead to wasted time and money. The early problems and solutions are part of the learning experience leading to their improved focus.

5. Dedication: Entrepreneurs learn that it is important that they never give up! They realize that any success worth having requires constant attention and dedication. Failure is something that happens to everyone at some point, but the ability to bounce back and try again is part of the entrepreneurial DNA; i.e., success comes at a price, that price may be the failures along the way. One of the most important lessons learned by entrepreneurs is that success comes after overcoming adversity.

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