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Wednesday, March 16, 2011

Contributors to an Entrepreneur's Success Part 1

Innovative and breakthrough business ideas are a significant part of entrepreneurial success - but - it's not all about them. Ideas, no matter how good they are, are nothing if not brought to life; ideas are nothing without proper execution.  But what are the other things that an entrepreneur is, and what he/she have, or what he/she does to be propelled into success.

1. Drive - Drive is an intangible force pushes you to do whatever it takes, and to sacrifice a heck of time to turn an idea into something functional. Moreover, it is an aggressive faith - aggressive enough that it is so contagious, you make your whole team and your customers trust in what you are up to.

2. Focus - Focus is when others see nothing and you see an opportunity, and keep a close eye on it. Focus means having no room for distractions; it means doing 3 things superbly as opposed to doing 10 things poorly.

3. Perseverance - This is probably one of the biggest contributors to success. It is a form of patience where in you do something incredible during the long "waiting" period. Success doesn’t come easy, and moreover - it doesn't come in a jiffy.

4. Enjoy the Ride - It's what happens between "nothing" and "success" that you are going to remember most. It is in the "transition period" where you have the time of your life. The transition period sits a pool of contradicting emotions which you can feel all at once, regardless if you don't reach the other side. It's like the thrill of crossing a line, where in the catch is the line itself.

5. Going with intuition. There are by far too many elements in the real world that you just can't plot into a spreadsheet. More often than not, spreadsheets give away results from your inaccurate assumptions, and give you a delusive sense of security. Going with your heart and hunch is sometimes the best option. In business, sometimes a gentle voice based on instinct is far more dependable than logic.

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