What These Successful Young Entrepreneurs Have in Common
From Mark Zuckerberg to Garret Camp, young entrepreneurs are making headlines for their unprecedented success. No matter what industry they’re in, these startup visionaries have certain qualities in common. What gives these entrepreneurs their unmistakable panache? There’s no one-size-fits-all formula for business success, but there are traits that you can emulate that give you a much better shot. Check out these winning business qualities, and learn how you can hone them to achieve your own entrepreneurial goals.
Choose the Right Ladders to Climb
You’ve probably heard the saying that in order to climb the corporate ladder you need to know the right people. This is true to a certain extent. Attracting successful people who share your mission, vision, and value system is an essential tenet of business success. However, the most successful entrepreneurs take this notion and add a few extra tidbits:
They surround themselves with complementary people. You can all share the same value system, but still have different strengths and weaknesses. Creating a harmonizing network of core individuals will help keep your business successful in the long run. In other words, you want to build a solid foundation, not a house of cards.
They put the corporate ladder on the right wall. Essentially, you need to do some research and identify your target market. Is the audience you’re trying to reach a growing sector? For example, doctors are increasingly specializing in orthopedics and geriatric medicine in response to the aging population.
You may have what you think is the most innovative idea on the planet, but chances are that someone else has their gaze on something very similar. How will you differentiate yourself from your future competition? Is it customer service extras or an eco-friendly approach to your industry? Could it be a socially conscious business model or complete corporate transparency? Decide how you’re going to make yourself innovative and unique, and incorporate it into your branding scheme. For example, there are hundreds of shoe companies out there, but Toms stands apart with their simple aesthetic and charitable outlook.
Decide How You’ll Drive Customer Value
With the number of startups and entrepreneurial hopefuls growing with each passing year, the pressure to be innovative is stronger than ever. What will you do to give your customers added value? What will attract them to your product or service? Maybe it’s your branding or the way that you approach delivery – either way, you need to continually think of ways that you’re going to make your product better for your customers. The best entrepreneurs never stop innovating.
Be Prepared to Wear Many Hats
The most successful entrepreneurs buckle themselves down for the long haul. They acknowledge that they’ll have deal with several spinning plates, at least in the beginning. They’re often bookkeepers, IT gurus, master furniture assemblers, bloggers, thought leaders, managers, and fundraisers. This means pulling 12-14 hour days, every day, for the foreseeable future. Once you’re established enough to delegate tasks to freelancers and contractors, seize that opportunity. For the short term, accept the fact that you’re likely going to lead a lonely lifestyle, at least for a while.
These qualities are the same ones that we find in many of today’s most successful entrepreneurs. These individuals are not afraid of hard work, are extremely bright, pursue success doggedly, and begin their journey with a strategic vision. If you can emulate these qualities yourself, you’re headed for a bright future.