“Everyone can tell you the risk, an entrepreneur can see the reward.”
Although there are 582 million entrepreneurs in the world, only a small portion of them are profitable in their pursuits. It is fairly simple to become an entrepreneur, but it is more complicated to actually become a successful one. Here are the secrets of a successful entrepreneur!
Secret #1: Constant Search for Knowledge
On the road of being an entrepreneur, there will be many things you encounter that you will not have any knowledge or experience with. The person that desires to open up their own jewelry store may have experience with creating jewelry, but may not have experience with all of the different skills required to establish a store, like creating a business plan, getting a business loan, hiring and firing employees, profit and loss, risk assessment, and so much more. The top secret of a successful entrepreneur is to constantly search for the knowledge that you do not have. You will never hear a successful entrepreneur say, “I want to do something but I don’t know how…so I’m not going to do it.” Instead, they will say, “I want to do something but I don’t know how…so I will find out.”
Secret #2: Laser-Eye Focus with Awareness of New Discoveries
This is one of the biggest secrets that distinguish a successful entrepreneur from an unsuccessful entrepreneur. A lot of times entrepreneurs start off in one direction and while they are laser-eye focused in that direction, they come across something else. A successful entrepreneur will pause for a moment and determine whether this new discovery is a distraction or destiny. The brand we all know as Avon began as a door-to-door business selling books. The founder, David H. McConnell, wanted to attract female buyers, so he began bringing perfume samples with him as he sold books and then the perfume samples became more of a hit than the books. McConnell had two options when this happened. He could decide to keep his laser-eye focus and not pay attention to the new discovery that could change the direction of his intended book business, or he could pause for a moment and determine whether this new opportunity was a distraction from his book business or whether this new opportunity was his new direction. After over 100 years of changing his business into a beauty and personal care company, it is clear to the world that McConnell made the right decision. Would we know Avon if he would have kept pursuing his book business? Probably not. You can never become so laser-eye focused that you miss new discoveries.