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Startups 2017-07-27

Driving Forces of Successful Entrepreneurs

Being successful is as difficult as continuing to be in that position forever, when there are many start-ups and entrepreneurs popping up on daily basis.

By Nibedita Mohanta Feature Writer

As Roy L. Smith has so aptly put in words, “The successful man is the one who finds out what is the matter with his business before his competitors do.”

Being successful is as difficult as continuing to be in that position forever, when there are many start-ups and entrepreneurs popping up on daily basis.

A study by the market research firm Zinnov said, India, which is home to about 4.88 crore small and medium business ( SMB )s provides employment to 81.16 million individuals and is all set to become the largest SME nation globally.

Micro enterprises account for 95% of total SMBs, small & medium put together hold the remaining 5% share and 55% of SMBs are located out of urban cities whereas 45% are situated in rural areas.

Technavio has released a new market research report on the global SMB and SME NAS market, which is expected to generate revenues of $18 billion between 2016 and 2020. The report also read that global SMB and SME NAS market is set to grow at a CAGR of 33% by 2020.

Thus here is the list of driving forces, which keep the entrepreneur or start-up owner to remain successful:

1. Push Your Limits:

There is no golden rule to be a successful entrepreneur, which is why the successful entrepreneurs, who have established their empire on their own, keep pushing the envelope of their capabilities.

They do not encircle themselves within their comfort zones; they keep making small targets for their own and try to meet the targets.

One, who has built his house with his own hands, is not afraid to dig his hands in shaping the walls.

2. Aim big:

Success is a journey not a destination. For being a successful in any field, the dream has to be big enough that it will make you jump out of the bed and chase the dream.

The aim has to be big, so that the motivation will be intact. The successful entrepreneurs do not let the fuel of their ignition burn out. They keep the lamp glowing till the end. That fuel is the dream or the aim; they keep in their eyes till the end.

3. Learn From Mistakes:

In the due course of trial and error, one learns where one is going wrong. Even Thomas Edison failed 10,000 times before making the right bulb. He tried 10,000 ways to not make a bulb, which implies that he learnt from his mistakes and every time he rectified to come up with the correct one.

Try to learn from every mistake, you do or done by great businessmen, which will help you in acquiring enough knowledge to hit the right nail.

4. Be a Man of Action:

It has been noticed that many start-ups fail to handle success; they earn over night and ultimately fall flat on their face.

Success is a good servant but bad master, when it makes its ways up top your ego.

Be a committed businessman; do not let the company lose its fire. One has to be dedicated towards the work that if one fails to turn up, one can handle alone.

Keep learning all the new things taking place in the company, if it requires staying back in office for long. Know the nifty gritty of your company.

5. Love Your Work:

If you do not work for what you love, then you have to love your work. Unless you fall in love with your work, you would not be able to give your 100%.

There are people, who force themselves to sit for 12-14 hours, to earn bread and butter for their family. If you love your work, even 12-14 hours would not feel like pain. You will enjoy your work, its progress and its fruit equally.

You live only once, why force anything down the throat, for name sake. Dip yourself from head to toe in the magic of process and the outcome has to be best, where you have poured all your hard work, heart and soul.

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