Top 5 Secrets to become a successful entrepreneur

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.

Top 5 Secrets to becoming a successful entrepreneur (Photo created by cookie_studio on freepik)

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

  1. Set goals.

Set goals to put your plans into focus. (Photo by Jess Bailey Designs from Pexels)

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.

  1. 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.

  1. 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. 

  1. 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.

Seek a mentor to help you navigate the world of entrepreneurship. (Photo by Anna Shvets from Pexels)

  1. 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.

This article was originally published in 2015. It has been updated for relevancy. 

Jessie Gabriel, 2021 WEES, All Places

2021 WEES Speaker Jessie Gabriel: How she became the go-to legal firm for women

Jessie Gabriel is the CEO and Founder of All Places, a business and legal strategy firm built by women, for women. Jessie founded All Places after feeling unhappy and underappreciated at her previous firm. Jessie’s story is an inspiration to all women who have big dreams and are ready to take charge of their careers that anything is possible when you put your plans into action.

THRIVE! Women Turning Adversity into Success

The 2021 Women Entrepreneur Empowerment Summit motto is THRIVE! with our panels and workshops focusing on key areas of growth to connect and empower women business owners and give them the tools and insights to propel forward and thrive post-COVID19. 

Our women’s panel,THRIVE! Women Turning Adversity into Success”, will feature guest speakers: Jessie Gabriel, Maria Piastre, and Marvina Robinson as they share insights learned on their journey to success while fighting the odds of being a woman and reinventing themselves during the pandemic. Below, Jessie shares her story with Latinas in Business of how she found success in the male-dominated business and legal industry and became the go-to firm for women. 

“Women belong in all places where decisions are being made”

Jessie Gabriel is the founder of All Places and a champion for women, advocating for gender equality in capital ownership and control. Raised by a single working mother in Southern California, Jessie’s success came with a deep appreciation of how gender norms and unequal access to capital contribute to a systemic lack of opportunities for women-identifying entrepreneurs and executives.

Jessie began her career in economics after receiving her B.A. in economics from Dartmouth College. She then earned her J.D. cum laude from the University of Michigan Law School, where she was elected to the Order of the Coif, won the Campbell Moot Court Competition, and served as Executive Editor of the Michigan Journal of Race and Law

Jessie Gabriel, All Places

Jessie Gabriel, CEO and Founder of All Places. (Photo courtesy Jessie Gabriel)

Throughout her career as a lawyer, Jessie worked at some of the country’s most prestigious firms and served clients from Fortune 10 companies to trailblazing pre-seed startups. However, like many women in male-dominated industries such as law, finance, and science, Jessie found that the further she rose within her organization the more marginalized she felt. 

“Even though I was an equity partner and ran my own practice team, I did not have any control over firm culture, who I worked with, or even my own compensation. And I did not agree with many of the decisions being made by the people who did have control over those things,” says Jessie. “But it was not until a number of my female clients and other women in the asset management community suggested I start my own firm that I seriously considered it. It was at a dinner in July of 2019 that the suggestion was made and I launched All Places in October of 2020.”

Jessie founded All Places with the dream of becoming the go-to firm for women. It was built specifically with women in mind, with its name coming from a famous quote by the late Justice Ruth Bader Ginsburg:Women belong in all places where decisions are being made.” 

All Places, go-to legal firm for women

Jessie founded All Places as a business and legal firm by women, for women. (Photo courtesy Jessie Gabriel)

“Our mission is to support women founders (and women asset managers in particular) along their entrepreneurial journey, doing our part to help them achieve remarkable growth and market power,” says Jessie. “The most direct line to those positions is building and controlling wealth, and the most direct line to wealth creation is ownership.” 

Developing her vision 

Jessie vision for All Places began building slowly over time, before she ever really thought it would become a reality. 

“For a period of time at my last firm, I led the Women’s Committee. I remember sitting at an event that we were hosting and one of the panelists was asked what you should do if you are unhappy with your firm’s culture but have been unable to change it. She responded that, in that case, you should leave. At the time, it seemed like a drastic and impractical option,” says Jessie. “I had never considered myself an entrepreneur, and having been raised by a single mother where money was always an issue, financial security held a lot of sway over me.” 

However, as she advanced in her career she found herself continually reminded of how little her organization valued her. Her suggestions were quickly rejected. Her salary demands were dismissed. And she was met with more lip service in place of money and power. 

So, she began to plan. 

“I planned, planned, planned. I worked for years to develop key client relationships and save money, and then spent time really developing my vision for a new style of law firm where women would be the focus.”

Jessie’s ultimate dream was to eventually become the go-to firm for women, something that seemed impossible at the time. 

“Six months after launching All Places, a woman in our community was making an introduction for me. As she was describing me in the email, she wrote, ‘There is rarely a call I have with another female fund manager where Jessie’s name doesn’t come up.’ Even now as I write that, I am floored. What seemed impossible was possible–I was now at a firm that was that go-to firm . . . I just had to create it!   

“Being a woman has certainly shaped my path” 

Jessie’s experiences as a woman in a male-dominated field were a crucial component and motivating factor in the creation of All Places. 

Jessie Gabriel, All Places

“Many of our clients come to All Places because they connect with our message.” (Photo courtesy Jessie Gabriel)

“Being a woman has certainly shaped my path,” she says. “Many of our clients come to All Places because they connect with our message. They have often had bad experiences with traditional law firms, and have had bad experiences within their own career paths. We can commiserate on the lack of belonging we have experienced professionally, and in our intense desire to see ourselves and other women achieve breathtaking success. It is that shared experience and empathy that drives deeply effective partnerships.” 

This is a feeling that binds women entrepreneurs together and many women can probably relate to Jessie’s experiences, especially if you too are in a male-dominated industry. For women who find themselves wishing to start their own venture or make a change in their careers, Jessie says, “Start talking about. You know so many people who will want to help you, but they can’t do it unless you tell them what you want to do and what help you need to succeed. It’s terrifying at first, but you’ll get over it.” 

You might be interested: 2021 WEES Speaker Maria Piastre: A Latina leader excels in a male-dominated industry 

2021 WEES

If you’re looking for the inspiration and motivation to THRIVE! and make your career dreams come true, you won’t want to miss the 2021 Women’s Entrepreneur Empowerment Summit. 

Register now to hear more from Jessie Gabriel and other inspiring speakers, participate in deep-dive workshops that will give you the tools to grow your business, and also participate in our signature peer-to-peer networking sessions!

women entrepreneurs

CEO and founder of The Business of WE Paulina Lopez betting on women entrepreneurs

CEO and Founder of The Business of WE (Women Entrepreneurs) Paulina Lopez is betting on women entrepreneurs. She is a strong believer in the positive impact of women–of all ethnicities–in business…