What Separates Successful Entrepreneurs from the Failures?Nick Throlson
Successful entrepreneurs do not just become successful overnight. Every rising entrepreneur and successful company has put much work into growing and making their businesses successful. Does this mean the unsuccessful individuals did not put in the work? On the contrary, they did.
So, how come some entrepreneurs succeed and others fail? What separates and distinguishes the successful from the unsuccessful? Well, it would appear that there are a few consistent things that successful entrepreneurs do.
Successful entrepreneurs often understand that greatness is not achieved by never falling. It is achieved by rising every time you make mistakes and fall. They also understand that good things will eventually come to those who plan, prepare and work hard.
This positive outlook on life and business eventually sets them apart from everyone else. Success is never about simply doing your best. It is about doing your best and then pushing your limits. Successful CEOs understand this, hence the reason they keep demanding even more of themselves and their workers. This makes them charismatic, dogged, strong, personable, and convincing… qualities that everyone admires.
Dream and Vision
There’s a clear difference between wishful thinking and having a dream and vision. It does not have to grandiose like changing the world or tackling world hunger. It could be something as simple as solving a small problem or tackling a particularly persistent issue.
It could also be about influencing and impacting the world like Steve Jobs and Bill Gates did and still do. Whatever the case, all successful entrepreneurs “saw” what they could achieve and solutions to problems that no one else saw or believed in enough to go after.
Incredible Passion and Zeal
The only thing that keeps most successful entrepreneurs going when the odds are against them, and the future seems bleak is their incredible passion and love for what they do. This purpose is what keeps them going. As Bill Sunday once said, “More men fail through lack of purpose than lack of talent”.
Most successful entrepreneurs will tell you that they would still do what they are doing now even if they were not paid for it. That is how powerful their zeal and passion can be. Passion is what makes them undefeatable.
It’s what causes them to look for solutions in ways no one has thought. It is what drives, pursues and pushes them to excellence. Going into business for just profits will get you some results and maybe some wealth. However, success comes from having a fire that burns within your heart and belly.
Most times, knowing slightly more than your competition is all the edge that you need to become successful. Successful entrepreneurs know this. This is why you will often find them studying, going to conferences, workshops, working with mentors, having brainstorming and mastermind sessions, employing smarter individuals and generally doing everything they can to learn as much as they can about their industry, market and sector. It is this edge and knowledge that empowers them to try different business approaches, create effective systems and processes, and do more than their competition.
Ability to Pick the Right Individuals
The right individuals and talent are crucial to your success. This is why you will often find successful people surrounding themselves with incredibly smart and savvy individuals who are very highly motivated. For most of these people, success is personal and non-negotiable.
When you have people like this on your team, there’s little or no need to worry about a lack of motivation. Sometimes, it is the agglomeration of these individuals working towards one goal that often results in phenomenal success.
Consistency and Perseverance
Finally, there’s no success without perseverance. Will Smith once said “You may be faster than me, you may be stronger than me, you may be better equipped than I am, you may even be better than me. But if we both get on the treadmill, I will keep going until you quit. And when you do, I’ll still keep going”.
Quitting is not acceptable to successful entrepreneurs. This is why they persevere and remain consistent. They understand the importance and validity of the Flywheel Concept and momentum. So, even in the face of monumental challenges, they will keep going.
These are the major reasons why some entrepreneurs succeed and others fail. So, if you want to do well in business, you might as well adopt and culture these attributes.
The writer, Oscar King, is himself a budding entrepreneur who is focusing on the online space. In the mean time he writes and offers advice for others wanting to succeed. Given he is going online, he understands a big part of his success is having a solid sales platform, which he plans to acquire through FastSpring. You can learn more about Oscar on Google+.