Credit for this post goes to my friend Sanjib Mukherjee who is the Founder of The Yogi Warrior Tribe – a powerful collective of elite entrepreneurs and industry leaders from across the globe, all dedicated to supporting each other to reach the highest levels of business success, whilst living with a deep sense of inner happiness and freedom in our personal lives. His mission is to bring like-minded high achievers together and to help them create a life of abundant wealth and indestructible spiritual happiness. You can read the original post here.
At some point or another, virtually everyone will dream of becoming an entrepreneur and a few brave souls will actually take the plunge and give this exciting adventure a go.
The journey is not only about business but also a personal development one, as you will have to face all your fears along the way and quite simply smash every single one of them.
Becoming an entrepreneur can be extremely challenging in the beginning, but if you can adopt the following 10 principles, you can very easily transition from starting off as a complete novice to becoming a fully-fledged business guru.
See how many of the following attributes you currently possess and don’t worry if you fall short in any departments, at least now you will know what you need to work on.
The more of these characteristics you can develop, the greater the entrepreneur you will become.
1. Produce A Transformational Result
An entrepreneur is someone who can solve a problem for a specific solution, for a profit. Though this definition is essentially very basic, it does highlight the one component you must have as an entrepreneur in order to be a success, and that is you must be able to offer a relevant result for a specific problem.
For example, if you are a fitness coach, then you can help someone who is overweight to lose weight and get in shape. Or if you a car garage owner, you can help someone with a broken car to have their vehicle up and running again. You could be a financial advisor who helps everyday people to save their money wisely so they can develop an investment portfolio to help increase their wealth.
As you can see, no matter what the business is, an entrepreneur has to be able to solve a very specific problem in order to be successful with their business.
The bigger the problem you can solve, the more desirable you will become. In fact, if you can go beyond offering solutions to actually offering a transformational result, then you begin to operate in a league of your own.
For example, rather than just saying you are a weight loss coach, you can position yourself as a fitness & lifestyle professional who can help you to safely lose 20 pounds in weight within 30 days, and get you into the best shape of your life.
All of a sudden, you are not just offering a solution, but now offering a highly desirable result which will absolutely transform someone’s life, especially if they have always been overweight.
Think deeply about what result you can provide and for whom, and then go even deeper to determine the one real transformational result you can provide.
You will need to be really honest with what you can and can’t do, as your entire business should be based on delivering this one powerful outcome.
Following on from identifying your transformational result, the next big attribute you need to possess is total integrity.
First you all, you need to make sure you can effectively deliver everything you say you can, to your target audience.
At the end of the day, no matter what business you are in, people buy from people. If you are a genuine and trustworthy individual, your market will resonate with your energy and be much more inclined to do business with you.
Also, I firmly believe that your business is merely an extension of who you are as an individual, so if you are an honest, decent and well-mannered person, if naturally follows that your business should carry these characteristics as well.
Have a think about the type of clients you want to work with and the type of business you would be proud to be an owner of.
Once you have this vision firmly placed in your mind, it then becomes imperative that you operate with the same levels of integrity you have for your vision as you do in your daily life.
Integrity is the foundations of all your success and is the one component you must never sacrifice at any costs.
Even though your integrity may be excellent, it is highly unlikely that everyone else will follow these high standards you set for yourself.
Many a time, you will see other people compromising their ethics in order to move ahead and even if you feel the slightest of temptations to do so yourself, you must remain firm in your own convictions.
Resilience is not only restricted to your integrity, but also to every aspect of your business.
Setbacks and failures are a common feeling you will simply have to get used to.
As an entrepreneur, you will be treading a path you may have never walked before and though you may have done all the research in the world, you will only really begin to learn about what you doing, once you actually step foot into the trenches.
It thus becomes extremely important for you to get comfortable making mistakes, but at the same time, making sure you learn from each one.
Also, you won’t be making perfect decisions, especially when you first start off on your journey, but that’s OK, you need to get comfortable with being uncomfortable and keep moving ahead regardless.
Though the rewards of being a business success are enormous, during the initial stages, you may struggle a lot more than you ever thought you would, and during these moments, you may come across a lot of negativity.
People may doubt your abilities and be quick to offer their words of wisdom, despite never actually become an entrepreneur themselves.
This is where you need to remain true to your convictions, and develop the resilience and staying power to keep on track and carry on powering forwards until you reach your desired goal.
4. Superior Mindset & Self-Belief
As you can see from the resilience segment, another crucial attribute is your self-belief.
It’s one thing for others to doubt you, but the one thing you must never do is to doubt yourself.
Your belief has to be strong, that it actually borders on the insane (without ever jumping over the threshold!).
In reality, your mindset and self-belief is everything.
You have to see your success in your mind, well before it ever manifests in reality and you also must truly believe it is your destiny to fulfil your vision.
No-one else will ever understand what goes on inside your mind, and no-one else will ever see what you dream in your heart.
Your dreams are yours and yours alone, only you can make them happen into reality and only you can break them.
Developing a superior self-belief thus becomes an absolute must, if you are to truly become a great entrepreneur.
5. Hard-Work, Determination & Commitment
All the belief and mindset in the world, will not do anything if you do not roll up your sleeves and actually work with total commitment to making it all happen.
This is the one secret which every great entrepreneur, artist, visionary and leader have always known.
The great painter Leonardo Da Vinci once said that all of his masterpieces were 1% inspiration and 99% perspiration.
This is even more of an eternal truth for entrepreneurs.
So many times, I have seen greatly talented people achieve very mediocre results simply because of their casual attitude to work, whilst I have seen people with very limited talents, but the drive and determination to work with everything they have to be a success.
100 times out of 100, the hard-working, ultra committed personality will smash anyone else in the market.
No amount of dreaming will ever substitute for sheer commitment and hard work.
So much so, I would say your entire business success is directly proportionate to your ability to work hard and to simply get things done.
6. 100% Responsibility
Perhaps the biggest challenge for any entrepreneur is to actually realise that you are now responsible for every single component of your business.
This does not mean, you should be doing all the work, but even if you have a dream team doing everything for you, as the owner, all responsibility falls on your shoulders.
You are responsible for the finance, administration, legalities, customer support, product development, market research, client acquisition, client retention, service delivery, after-sales service, strategic thinking, company direction, team development, supplier procurement etc…
The list of activities in a business are endless, but you must get comfortable with owning total responsibility for every single department.
This responsibility will do one of two things to you:
Either you will shrink and run scared of everything you now need to manage, or you will thrive and grow into a powerful person, loving the leadership you now need to provide.
It goes without saying, a great entrepreneur thrives with more responsibility and greatly accepts every challenge which comes their way.
7. Open & Willing To Adapt
Though you need to be supremely confident and comfortable with taking full 100% responsibility for every aspect of your business, it is also vitally important you remain open to change and humble in your approach.
It is impossible for you to personally have every answer to every problem you encounter in your business, but your job is not to personally have all the answers.
Instead, your job is to create the means and the pathways to attain these answers. For example, your team will know a lot more about their daily operations than you, thus it becomes essential for you to empower them to come up with creative ways to solve any issues you may be experiencing.
Also, you will be surprised at how easy it can be to find the solutions for any business problems you are facing by merely being open-minded to accepting a different approach from anyone around you.
In reality, there are hardly any problems you will come across which someone else hasn’t already solved or at least have a better solution than what you currently do.
Having the openness and humility to listen to others, will significantly increase your growth and make running your business so much easier.
8. View All Problems as Opportunities
Now that you have the integrity, self-belief, openness and responsibility required, the next attribute is the ability to view any problem as merely an opportunity to grow deeper and become even stronger.
The reality is that you will constantly face struggles and challenges on a daily basis, and there will handle ever be an occasion where you do not have to face a single problem with your business.
Thus, in order for you to consistently succeed, you first need to get comfortable with handling problems, but then be able to reframe all of them into new ways to improve and take your business to the next level.
This is a very subtle skill you need to develop, as it will require you to have firm control over your mind and emotions.
But like everything in life, the more you practice this skill of viewing problems are mere opportunities, the easier it all becomes.
In fact, after a while, you won’t actually view anything as a problem, you will just see everything as growth.
Once you reach this mindset, you will truly begin to fall in love with your business and indeed everything that you do.
9. Passion & Purpose & Freedom
Every great entrepreneur has a vision so much bigger than themselves.
Sure, in the beginning, your goals may be to get rich and provide a good lifestyle for yourself and your loved ones, but once you achieve these targets, you will naturally want to do something which has a much larger impact on the world.
Remember earlier we spoke about producing a transformational result as an essential requirement to being an entrepreneur, well now imagine offering this result to not only a handful of clients but, say, the entire world.
Having lofty ambitions to make a global impact and leave a lasting legacy for everything you do, is what truly distinguishes a great business visionary and an average business owner.
Passion is what truly drives us all, and the bigger you can set your goals to improve the world with your business, the more hunger, drive and passion you will create in your everyday life.
I firmly believe we are all designed for greatness and playing small actually goes against our nature.
By thinking and acting big, you access a part of your psyche which thrives when called into action.
Once you release this inner force, you will then experience and happiness, fulfilment and freedom which will drive you to attain heights of success you didn’t even know existed.
Never be afraid to dream big and to truly release your passion within you.
10. Success Network
No one achieves massive success on their own.
Having a dream team is paramount to everything you do, but so is the presence of a high-quality collective of like-minded people who can push you to keep striving further and to give you the support to attain all your goals.
It also becomes super energising when you can inspire like-minded people too.
Everything moves around in full circles as not only does success breed success, but good energy people always uplift each other, and this is absolutely essential to fulfilling your business dreams.
It becomes so easy for business owners to feel isolated and very alone in this great journey, but by having a powerful success network around you, you not only have the friendship and support that you need but also the inspiration to fuel your growth even faster.
Success becomes so much easier when you are travelling with a tribe of like-minded winners.
Applying These 10 Attributes For Your Own Success
Though the above list is not as daunting as it first may appear. Once you know what you want with your business and then develop the focus to know how to get there, many of the characteristics mentioned in this post will naturally develop within you.