Entrepreneurship is an edifice of leadership, confidence and power. To be a successful entrepreneur, one should have a firm hold of all the three qualities, to begin with. Leadership gives goals, confidence is the medium and individual power, of creativity and analysis, leads the way to a definite success. But what should be avoided to become an entrepreneur is also important to know. Otherwise, even if there is wisdom and dedication, nothing will be achieved if they are unknowingly wasted. So to use the strengths rightly, one should be aware of the wrong use of it.

Entrepreneurship has three basic stages: the idea, the implementation and the result. The near-perfection of each stage is crucial for the overall success of the business. Because improvement happens in steps, here are some of the basic practices that hinder the will to become a successful entrepreneur, listed according to the stages of entrepreneurship. However, the categorisation is not rigid and the presence of any of these practices can affect the outcome i.e. is success.

Key Takeaways:

  • Don’t listen to sceptics; believe in your idea/plan
  • Being carried away by stereotypes and myths
  • Don’t strive for small goals; think big
  • Don’t be hesitant to speak or to act; be shameless, if required
  • Procrastination; never think it is not the right time
  • Rather than fearing the failure, learn from it and strive for success again

When you have the idea for a business:

Don’t listen to sceptics; believe in your idea/plan

Often, what impede the way between a great idea and the plan to take it further are doubts. These doubts of whether the idea is good enough or not; is it competent, long-lasting or just a bundle of hay can be raised by both the self and the others. In either case, the truth is that you are not confident of the idea itself and that is why you are being swayed by doubts. To keep a track of the criticism is good, but only as an improvement for the idea and not a reason to discard it altogether. So, if there is a business idea, think thoroughly, build confidence and go for it, no matter what the doubters say.

Procrastinating is rejecting the platform that is ready to see you act. To be an entrepreneur, never wait for the right time to begin. Every second can lead to a minute of success.

Striving for small goals

Once the idea is formed, what next? This next step should be big irrespective of what would be the consequences. Once the business idea is framed, chart out a plan to implement it. Never stop for small success.  An entrepreneur should always be ready to think big and take risks. Striving for small goals will only provide short-term success. To take a bow for long-term success, the step towards it should also be big.

Being carried away by stereotypes and myths

Another big barrier in the process of a successful entrepreneur is the stigma related to it. Especially in the case of women entrepreneurs, the stereotypes that women cannot run a business and that tradition say it should be done by men, stop women from taking the first step. Therefore, it is important to break these myths and not be blinded by them. History is evidence of the fact that myths are constructed to restrict or to hide a truth. Similarly, the myths against women entrepreneurs aim at restricting women and their capabilities.

When the plan of implementation is charted out and on field

Don’t be hesitant to speak or to act; be shameless, if required

The basic principle to start up a business is to sell yourself. It is normal for many people to freely speak about themselves and make people like them. While, for another group of people, speaking about self is the most avoided conversation. This is because they are hesitant to come out in public, and in some cases, lack self-belief and fear the haters. There will be haters and sceptics everywhere, but those who benefit from the business are the ones who matter the most. So, in order to excel as an entrepreneur, it is important to do big tasks and build public exposure. One has to be adept at communicating with others and taking steps ignorant of the haters and criticizers. After all, it’s your idea, your business and success will also be yours.

Also Read: Entrepreneurship Lessons From Kiran Mazumdar Shaw

Another big barrier in the process of a successful entrepreneur is the stigma related to it. Especially in the case of women entrepreneurs, the stereotypes that women cannot run a business and that tradition say it should be done by men, stop women from taking the first step.

Don’t expect high; think of only that which can be acted out

A crucial part of starting up a business is what you expect from it. Expectations both build and ruin things. If there is no expectation then there is no use investing in it. But, high expectations can never provide success. To be an entrepreneur, one has to have a control on one’s faculties like over-excitement that forms high expectations. It is important to, first of all, implement the idea and build the business. Secondly, the entrepreneur should be rational about what the business can yield and what should be expected from it. Expecting something that cannot happen is when one thinks about things that cannot be acted out. Business is all about practicality; believing in magic or wishes can never help. So, think about what you can act and act whatever you think.

Procrastination; never think it is not the right time

As an entrepreneur, one should be vigilant about the time and ready to act whenever opportunity knocks at the door. Procrastinating is rejecting the platform that is ready to see you act. To be an entrepreneur, never wait for the right time to begin. Every second can lead to a minute of success. It is always the right time to begin and the wait for that special hour is an endless wait for perfection. If the business plan is ready, act out! Business ideas are wholly practical and related to immediate socio-economic conditions. It is of no use to store it in the mind for some time later. Both the ingenuity and faculties used will be wasted. So do not wait because it is not the right time that brings success but the right effort and in the right way.

The basic principle to start up a business is to sell yourself. It is normal for many people to freely speak about themselves and make people like them. While, for another group of people, speaking about self is the most avoided conversation. This is because they are hesitant to come out in public, and in some cases, lack self-belief and fear the haters.

When the result is ready

Lastly, the fear for the failure

It is an old saying that business is a game of profit and loss, and it means a lot. It is not necessary that the business plan might bring only success. The ultimate result is affected by various factors which are not in our hands to change. But, what matters is the strength to have tried and to try again. The fear for the failure will never push the thoughts to action. It will only give hopelessness and regret. To fail is not to surrender or stop the business. If it has been started with enthusiasm and confidence, one or two failures can never deter it. Besides, if there is no failure at all, how will there be a progression? Rather than fearing the failure, learn from it and strive for success again.

Rudrani Kumari is an intern with SheThePeople.TV

Also Read: We Need To Change The Way We Define Successful Women

Get the best of SheThePeople delivered to your inbox - subscribe to Our Power Breakfast Newsletter. Follow us on Twitter , Instagram , Facebook and on YouTube, and stay in the know of women who are standing up, speaking out, and leading change.