The path of entrepreneurship is not for the weak. It is a long and arduous process that is filled with moments of success and failure, and feelings of self-doubt and personal satisfaction. Those who find success in entrepreneurship embrace these trials and tribulations and use them as fuel to move further along the path and to find even greater success. It is from these people that we can learn some of the most powerful lessons to finding success as an entrepreneur.
7 Powerful Lessons from Successful Entrepreneurs We Admire
As you start on this journey, here are seven lessons and pieces of advice from the people who have gone down this path before us and found success as an entrepreneur.
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1. Follow Your Passion
As the Chinese philosopher, Confucius famously said: “Choose a job you love and you will never have to work a day of your life.” One thing you will hear over and over again is that your success depends on your passion. If you enjoy what you are doing, it won’t be like working and you will want to invest all of your time and resources into it. If you don’t enjoy what you are doing, every part of the business will be a struggle and you won’t be able to be fully invested to find success.
2. Learning Must be Continuous
No matter what your industry, smart entrepreneurs know the value in educating themselves on a continuous basis. Whether it’s in business practices or just general knowledge, it is important to leave time in your schedule for reading and learning.
My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had – every day I’m learning something new.- Richard Branson, Founder of Virgin Group
3. Expect Failure
One thing to remember about entrepreneurship is that failure is not the end of everything, but the chance at a new beginning. You can’t set down this path and expect not to fail once or twice. If you start knowing that along the way you will encounter failure, you will be better off. Failure is just another lesson putting you back on the path to success.
4. Trust Yourself
This lesson is simple. No one will trust you if you don’t. Trust yourself and your guts feelings, because, for the most part, they are right. Be true to yourself, even when it seems impossible.
Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.- Steve Jobs
5. Build a Great Team
When it comes time to start building a team, hire only the best people. It will take time, but it’s time well spent. Hire people who are smarter than you and have strengths that compliment yours. People are one of your greatest investment in business and choosing the right ones will help propel your business to success. Hiring the wrong people, however, can quickly take you down.
6. Just Do It
Like Nike says, “just do it.” There is never the perfect time to follow your dream and start your own business. Life will throw obstacles at you and fear will continue to make you think “now” just isn’t the right time. Put that all aside and take the plunge!!
Entrepreneurship is living a few years of your life like most people won’t so you can spend the rest of your life like most people can’t.- Anonymous submission from a student of Warren G. Tracy
7. Always Look Forward
It is very easy to get caught up in your new business and focus so closely on what you’re doing that you don’t realize what is happening around you in your industry. The past will provide key lessons, but always keep your focus on the future. Doing this will allow you to build a company that won’t get left behind.
A leader is one who knows the way, goes the way, and shows the way.- John C. Maxwell
Here at VirTasktic, we know starting your own business and setting down the path of entrepreneurship can be scary, that is why we want you to find success as an entrepreneur. If you follow the advice in this article, you will have an easier time on that journey. And, if you ever need any help down this path, our team is always here to help.