These five secrets are not new; however, they are a good reminder of what it takes to move forward on your entrepreneurship journey. Some may practice these actions on and off, while others will turn them into habits. It’s those that ingrain these actions into their life that more often than not become successful entrepreneurs.
Every entrepreneur hopes that their venture will be successful. Many times, entrepreneurs are taking a big risk, leaving behind corporate jobs or traditional careers all for a dream. At Latinas in Business, we are always sharing the stories of our fellow entrepreneurs and leaders in our community, and time and time again we see overlap and similarities in their successful journeys.
While some believe the toughest part of launching a new business is arriving at a great idea, more often than not the toughest part is actually acting on your dreams. So many of us are guilty of this: we dream up a great idea only to put it on a shelf “for later” and forget about it. Then, “later” we discover someone else has developed our idea, acting on it where we didn’t, and they are now successful for it.
Action is what makes a successful entrepreneur. Constant and consistent movement is what sets successful ventures apart from the others.
“It’s critical once you believe in an idea that you make the step to some form of action right away in order to start building momentum towards your goals,” Jon Gillespie-Brown wrote in So You Want to Be an Entrepreneur. Many new entrepreneurs “talk a good game but do not follow through.”
The importance of action is not just pertinent to a business launch. Owners of established businesses may also be stopped in their tracks in the face of challenges posed by regulations, advances in technology or the overall economy. A successful entrepreneur is someone who, regardless of the challenge, keeps moving though not always forward.
A successful entrepreneur know that success is not always a linear upward progression and understand that obstacles arise. Those who are ultimately successful do not become paralyzed by challenges but instead find a way around them. They don’t sit still. They keep moving. They adapt.
Entrepreneurs who are unable or unwilling to continue to move forward or backward or seek an alternative route are destined to doom. Without movement of some sort the entrepreneur’s venture gets stuck and eventually fails. If you’re determined to make your venture a success that stands apart from the rest, then take these actions and ingrain them into your business building process.
Top 5 actions that make a successful entrepreneur
- Set goals.
Entrepreneurs who know what they want and have set a course are more likely to accomplish their objectives. Goals act as the homing device for an entrepreneurs’ actions. At times they may need to take a step back or sideways to continue to move forward. Like the North Star guiding navigators, goals help entrepreneurs create a new course after making adjustments.
“Always leave an opportunity for spontaneity, but you must have goals and a plan for achieving those goals,” says Regine T. Rousseau, Founder of Shall We Wine.
- Don’t fear failure.
Often people are taught that failing is bad. Yet without failure few entrepreneurs would know the way to success. Failure can be a powerful teacher. It shows you what needs changing, where you need to adapt and improve. Entrepreneurs seldom get it right the first time. But having the ability to keep moving by making adjustments improves the odds of success.
“People always tell you about the million reasons you’re going to fail and all the things that could go wrong, you need to focus on what could go right. If you don’t build your dreams, someone else is going to hire you to build theirs,” says Rajia Abdelaziz is the CEO and Co-founder of InvisaWear.
- Take risks.
Shark Tank’s Robert Herjavec once wrote, “Accept that there is a chance you will fail to make the leap across a chasm, or the rock you are about to step on may crumble, but understand that the rewards outweigh the risks.”
Indeed there is truth to the saying “Nothing ventured, nothing gained.” Taking risks is the first step to making something happen. If you stay stagnant and still, nothing will change. Remember, success is achieved through action.
“To succeed in every area of your life you need to unlock your mindset, be bold, be flexible, take risks and start doing what other people can’t, won’t or don’t do,” says Cici Castelli, career coach and author of Mindset Unlocked.
- Don’t settle.
Some entrepreneurs may strike gold the first time out. Others require more time, energy and perhaps the alignment of some planets.
Don’t become discouraged. Keep moving. Evaluate your business plan and make necessary adjustments based on feedback and results. Sometimes moving past a large obstacle means going around it and not necessarily over it. If you want your venture to really be a success, don’t let yourself get stuck or settle for something that is only half of what you dreamed.
“Always be success-driven and solution-focused, yet know how to use your voice and communicate clearly. Learn to say ‘No’ without explaining yourself,” says Paulina Lopez, CEO and Founder of The Business of WE (Women Entrepreneurs).
- Seek a mentor.
The entrepreneurs who freeze and do nothing when they come to their “moment of truth” may do so because they don’t know what to do next. The best way to achieve success is to work with someone who has already been down the same road. Plenty can go wrong in business but the right mentor can help an entrepreneur navigate the pitfalls and keep moving forward, improving the odds for success. Joining a community of like-minded individuals and entrepreneurs is a great way of connecting with people who have been there before, and can guide you through your journey.
“There are so many women that want to mentor, coach, and be by your side to help you rise. No one does this alone and support changes everything. Hire a coach, therapist, healer, or mentor that will help you see more possibilities than you might currently know exists. This is how we achieve success and growth together!” says Elena Armijo, Founder of The C-Suite Collective.
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