What does it take to be an extraordinary entrepreneur? You know, an entrepreneur who has a vision for a business, rallies support to build it, and then grows it into one of the most innovative companies in the world….what does it take to be an entrepreneur like that? Here are the eight-core beliefs of extraordinary entrepreneurs.
1: Make a decision and go!
Napoleon Hill called this Definiteness of Purpose, you need to make a decision fast and start taking action, most people fail as entrepreneurs because they lack definitive decisions and hence they procrastinate.
2: Show passion, not perfection
Most entrepreneurs won’t ship their product because they want to make it perfect, I know this is the easy way of not failing but imagine wasting all this time and when the product is done no one wants to use it.
I am not trying to tell you to sell crap products out there but what I mean is that your product does not have to be 100% to go public.
If you can show people, you are passionate about creating a perfect product by releasing it, then getting feedback and iterating…then people will jump on board…especially if the product solves a real-world problem.
Do not try to perfect anything because if you perfect something that no one wants to use, you will just end up wasting money.
3: Avoid the ugly baby syndrome
Most entrepreneurs fall into this category, Have you seen new parents with their newborn baby? All they say is that their baby is beautiful and that is what is called the ugly baby syndrome.
Most entrepreneurs fall in love with their idea and product and they cannot think objectively if you can manage to avoid this you will become the successful one.
4: Find the sweet spot, then scale it
This is another part of not waiting for a perfect product, you need to find a spot where your customers and yourself are satisfied and then scale the product.
5: Don’t think about taking a leap, just take it
Most people I know they are thinking about starting a business for years now and they are still in a thinking phase, if you think that you need to do something that will improve your business just do it, you will get one of the two results, either your business will improve or you will learn something that will not improve your business, in this situation you either earn or learn.
6: Entrepreneurship isn’t a war, it’s about solving problems and turning a profit
Some entrepreneurs out there think that having a competition in business is being enemies and they will do anything to destroy their competition.
If you want to be a successful entrepreneur you need to change your mindset, you need to think more about problem-solving, do not compete with anybody, except yourself.
7: Hire slow, fire fast
When you have people who are working for you, you need to have the best individual out there; you need to take time of finding people who fit into your values and philosophies and you need to be ruthless into firing fast all those you think that they do not fit in your vision.
8. Learn from your first, earn from your second, give back with your third
They say you learn from your first business and in your second you remove the L and start earning, you should always give back to society, it is not all about accumulating wealth, it is about helping others.
Those are eight core beliefs of extraordinary entrepreneurs, how many of them do you have? How many do you need to change? Let me know in the comment section below.