Entrepreneurial Success Factors

1. Willingness to take action. This is the first and most important factor for each potential and current entrepreneur. All other factors presented below, wont have importance if he or she didnt take a real action.

2. Knowledge. They must have superior knowledge about business issues for business that they start.

3. Creativity. They must have creativity to be unique and continuously improves business.

4. Skills. Each entrepreneur and each business need different entrepreneurial skills that in some cases can be crucial for business success.

5. Intelligence. They must be intelligent to manage all possible situations and to solve the hardest problems that will be a constant in business life. 6. Patience. They must be patient and to continue after losing the first battle, because the war is not finished. Its only the beginning. 7. Persistence. Persistence simply is a refusal to give up from something.

8. Teamwork. Nobody can achieve anything alone so this is true also for an entrepreneur because theyre not a Superman. They must be team players for their and business success.

9. Calculated risk. This is truly one of the most important questions: did they take the risk? Yes, each business startup is in some level risky. However, more important is how a successful entrepreneur takes a risk? The word calculated risk is the most appropriate word for this feature.

10. Self-Confidence. Self-confidence is a really important and key factor. I think that nobody would be an entrepreneur if dont have self-confidence that he knows how to start and manage their own business.

11. Experience. Sometimes experience is in category not must have as a factor, but it is something that will increase business potential energy. They must employ all present and previous experience they had into the business.

12. Talent. Talent is something inborn in an entrepreneur. Sometimes talent can be replaced with knowledge.

13. Connections. More connection the more possibilities for building a successful business.

14. Luck. Luck is a psychological factor. Some people can say that they dont have a luck. And indeed there are some lucky people who just accidentally found the right place at the right time. However, it is a small percentage and cannot be included as a serious factor for success.

10 Rules of Success for Entrepreneurs

Rule #1: Define Your Vision
Your vision is something that will clearly define what is the success for you as an entrepreneur. You need to have a vision if you want to become successful. How you can expect to be successful if you dont know what is it for you.

Rule #2: Dont do What You Dont Love To Do

As an entrepreneur you need to love what you do in your business or everything about your business. Sometimes that will not be the same as you plan that will be. You need to be passionate about your business. The passion is one of the most important forces that will pull you to the success .

Rule #3: Build the Community Around Your Business

The important thing about your business success is that youl need people. You need customers. You need employees. You need persons with which you will talk and communicate. You need to start building your community as soon as possible.

Rule #4: Communicate With Your Community

You dont need to build community only to sell them. You need community with which you will communicate and in some cases build partnership relations. They have very big power to make your business successful.

Rule #5: Listen Your Community

You need to listen to your community and learn from them. That knowledge is important to build in your business through products and services that will satisfy their needs.

Rule #6: Use the Mistakes as an Improvement Tool

If you made a mistake and fail in something that doesnt mean that you will not become a successful entrepreneur. You will become unsuccessful only if you dont learn from that mistakes, and you dont improve yourself. You need to know that mistakes can improve you and your business.

Rule #7: Change

If you dont change you and your business, your market will be changed and leave you isolated. Its better to become the leader than the follower. If you dont have a clear path to become successful, you will need different maneuvers. You need a change.

Rule #8: Find The Ways to Go Beyond the Limits

You are the person who doesnt think about the limits youl be reach what you want. If you see limits in everything around you instead of opportunities, you need to change your mindset and start to look beyond the limits.

Rule #9: Differentiate Yourself

You dont need to look at what everyone else is doing. Thats not something that will make you successful. You need to differentiate yourself and your business. How do you differentiate yourself from your competition?

Rule #10: Celebrate and Reward

Your path to become successful will not be a straight line. You will have many targets between where you are now and where you want to be in the future. If you want your journey to success to continue you need to celebrate and reward for all accomplished targets.