Pillars of Successful Entrepreneurship

In my previous post I discussed about pitfalls many aspiring entrepreneurs fall into before making it in business. Today I will be looking at some nuggets you can apply to ensure your business gets of the ground and doesn’t become part of the 80% that are nipped in the bud.

Running a successful business can look so simple when you are looking from the outside. You look at a successful entrepreneur and he doesn’t look like he is doing anything special but he is living a good life. It really doesn’t look like he is working all that hard. He seems to be enjoying life immensely.

Running a successful business is the proverbial ‘piece of cake’! Right? WRONG!!! Wrong, wrong, wrong! You are looking at the results of a very, very long and tedious process that consisted of many very long, late-night hours and a lot of blood, sweat and tears over a period of several years.

This successful entrepreneur worked very, very hard for the success that you are looking at. It is more than a little bit likely that he first placed four pillars first as he began the long process of building his successful business. Those four pillars upon which he built his success are: (1) The right mind set, (2) Recognizing and using leverage, (3) Building a set of useful contacts, (4) Having a mentor

We will discuss these four pillars that must be laid down first so that a successful business can be set up. All the four pillars are important, even crucial to the success of any business.

Having the Right, Healthy Mindset - The success of any business whether online or off line requires the right mindset from idea generation. A right and healthy mind set will not guarantee success but a wrong and unhealthy or unrealistic mindset will most assuredly guarantee failure. So the right mind set is the first pillar that must be laid down in order to launch a successful business.

What is a right and healthy mindset? There are things that it is as well as things that it isn’t. A right and healthy mindset IS the willingness to work as hard and as long as is necessary to achieve the goals that has been set. A right and healthy mindset ISN’T the belief that success will be easy, quick or painless. It ISN’T just jumping in feet first and hoping for the best. The best that can happen under those circumstances is that you get out with anymore than two cents to your name.

Those who believe that they can make a business enterprise thrive without having to actually put in any time or effort are simply doomed to failure from the onset. A right and healthy mindset IS the willingness to take the time to make a good, solid business plan that is based upon sound business principles.

Recognizing and Using Leverage - There are dozens...maybe hundreds....of business models out there. Some are, of course, more successful than others but they all come with their own set of pros and cons. The idea is to get the most bang for money. You need to use all of the power of the Internet to make your business successful. You really cannot afford to leave any stone unturned.

If you are a real go-getter, the temptation is to do everything first and that isn’t possible. You need to make a realistic plan and build one thing upon another until you have a good solid base from which to operate. Remember that reputation and credibility are everything in any business. Don’t take any shortcuts and never damage or allow others to damage your reputation.

It Is Not What You Know, But Who You Know - That is an old saying. “It is not What you know, but Who you know that counts”. Setting a pillar of solid relationships is an important aspect of building a successful business. Working hard at building good solid business relationships is worth every minute of time that you invest in it. Business relationship building should be one of your top priorities.

When you build social relationships, you insert yourself into social situations where you come in contact with people who have interests that are similar to or complimentary to your own interests don’t you? That is precisely the same way that business relationships are established. You insert yourself into business situations where you will meet others who have businesses that are similar to or complimentary to your own business. You develop relationships over a period of time.

There are several ways in which to accomplish this task. One way is to participate in conferences or seminars that are related to your business. You will learn a lot, of course, but equally important, you will come in contact with those who are already succeeding in the niche market that you are working in.

Find a Capable Mentor - I don't think there is any other valuable asset that a new entrepreneur can have than a good and capable mentor. Someone who has already made all of the mistakes can help you to avoid making all of the mistakes yourself. They have the wisdom that comes from experience to point out pitfalls and to help direct you toward making better decisions.

Why, do I need a mentor you may ask, would anyone who has made it want to take their time to help a newbie succeed? Maybe I can answer that by telling you about my friend who is an accomplished internet entrepreneur. He runs very successful blogs which attract thousands of visitors’ to his sites every day. He earns a six figure income every month from his blogs.

As I write this post I am at his house, he is currently mentoring two teenagers how to make pocket money on the internet using blogs. I asked him why he spent so much time doing that and he said, “It is like gaining immortality. If I teach them and they teach others, then what I know lives forever.” Isn't that leaving a mark in the world??? Honestly a candle does not loose its glow by lighting another candle......

Wishing you success in your endeavors!!!!!