9 Rules For Success

Every day people leave the comfort and security of employment to become entrepreneurs and start new businesses. Why do they do it and what makes them successful?

There is an old saying that all progress is made by unreasonable people although it is more appropriate to say all progress is made by unreasonable people and entrepreneurs.

Classical economics argues that people act rationally; yet such rationality does not explain the entrepreneur or their ability to create jobs and generate wealth.

Entrepreneurs, like the general population, differ from each other and come from all types of backgrounds and personalities. Yet, they follow common rules when it comes to how they achieve success. The rules are:

  1. Do Less: Entrepreneurs have the ability to think about what they want to do, focus on doing it and not get distracted. They also have the ability to figure out what  they don’t need to do.
  2. Meet People: Entrepreneurs have an ability to meet people and make things happen whether by bumping into the right person at the right time or identifying someone who can help their cause.
  3. Meet a Need: Entrepreneurs have the ability to develop an idea that meets a need for which people are willing to pay. They add value to a product or service to attract a premium or develop a less costly way of doing or making something.
  4. Learn from Failure: Entrepreneurs treat failure as a step on the way to success. Their mindset embraces failure and enables success. It provides freedom to try and fail and learn without diminishing their belief in the outcome.
  5. Learn from Others: Entrepreneurs have an ability to learn from others. They see what other people do and improve upon it to develop their own idea to create a market.
  6. Take their Time: Entrepreneurs often seem in a hurry as they do all the things that need to be done; yet, when it comes to their core idea they take time to investigate and plan what will work.
  7. Make Progress: Entrepreneurs, regardless of circumstance or obstacles, have the ability to make progress when others tire, get distracted and give up.
  8. Build Relationships: Entrepreneurs have the ability to build relationships with customers and investors, as their products and services become trusted over time.
  9. Perspective: Entrepreneurs have the ability to see things differently, which enables them to identify trends others don’t see.

SO, every day sensible people make seemingly irrational decisions and start new businesses but in doing so follow their own sensible rules.

What do you think? What are your rules for success? Get in touch, we would love to hear your views contact Nick on 028 8224 9494 or via Twitter @nick_oec.