What lessons can we learn from successful entrepreneurs?

Question

Even though I'm a successful entrepreneur, I know I always have more to learn. Continuing to get ideas from new people and learn helps me stay successful. What lessons about entrepreneurship can you share?

Answer 1

I think entrepreneurs teach people about hard work and dedication because an entrepreneur has a desire to achieve, the push to conquer problems, and give birth to a successful venture. It involves hard work and most are generally workaholics (Everyone who knows Donald Trump knows he is ). Entrepreneurs have a nurturing quality and are willing to take charge of, and watch over a venture until it can stand alone. They have an acceptance of responsibility. They are morally, legally, and mentally accountable for their ventures. Some entrepreneurs may be driven more by altruism than by self-interest. They reward orientation and have a desire to achieve, work hard and take responsibility, but also want to be rewarded handsomely for their efforts; rewards can be in forms other than money, such as recognition and respect. They are optomistic and live by the philosophy that this is the best of times, and that anything is possible. They have an orientation to excellence and often desire to achieve something outstanding that they can be proud of. They have strong organization and are good at bringing together the components (including people) of a venture. They want to make a profit; but the profit serves primarily as a meter to gauge their success and achievement. The demand theory holds that entrepreneurs emerge out of the combination of entrepreneurial opportunities and people who are well-positioned to take advantage of them. Thus, anyone who encounters the right conditions might become an entrepreneur, if they find themselves in a position where they find a valuable problem that they alone can solve.

Answer 2

People Skills And Knowing What Sells.
You Learned That By Attacking Reality TV.
It Sells Doesnt It!
I Think Staying On TOp Of Your Game Like You Have,
And Appealing To A Younger More Interested In Technology, Or Just Plain Lazy Couch Potatos, You Will Get Far.
But You Have To Listen TO The People To B e A Successful Entreprenuer!
People Skills Are Important If YOu Need To Deal With Clientel!
Maybe I Dont Know What IM Talking About..
Im Not Successful Nor Am I An Entreprenuer.. Although Id Love To Be..
I Work In A Dry Cleaning Store PRessing Clothes All Day Long!
So Dont Mind Me.
I ONly Wish I Can Be As Great As You Are.
But No Im 21 And Have An 8 Month Old Daughter And I Cant Even Support The Two Of Us, BARELY! Lol..
But I Do Pay My INternet Bill!
♥...
KriSTiE

Answer 3

What can't we learn from successful entrepreneurs? We can only learn that which we try. If someone can prove they have found a more successful way to do something, only a fool would completly ignore them. No one person ever has all the answers (No not even you, Mr. Trump). If we gather together the experiences that many people have had, we can learn to avoid costly errors and hardships. Here are some questions for you;
What do you want to do? Focus on one goal at a time.
What is your motivation? It is very important to know why you are opening your new business or starting that new venture.
Where are you going with it? Will you have future plans to expand, or do you just want a little Mom and Pop place?
Are your goals realistic? Money, Resources, Family, Property,and Desire all play an important part in success.
What is success? Fame, Fortune, Paying the Bills, Making your dreams come true, or just shucking it all and living on an island somewhere. These can all be examples of success.
As you knew when you asked this question ; Every outcome is completely determined by; DETERMINATION. If you really want to do something, you find a way. Plenty of successful entrepreneurs have had to Beg, Borrow, or Steal to make that dream a reality. You will do what you need to do and live with your conscience.

Answer 4

Entrepreneurship involves having essential skills that a lot of people do not have.
It's often said that anyone can be an entrepreneur. That's not entirely correct. Anyone can have a great idea. It's those individuals that have an adventurous spirit, excellent organizational skills, a steadfast core team, and an appreciation for future trends that have the strong potential for success as an entrepreneur. Some individuals have that great idea but lack one or two elements that will "make or break" the business.

For individuals seeking to become entrepreneurs, here are 5 points to consider:

- Have a strong business plan. - Without a plan that foresees potential strengths, weaknesses, opportunities and threats; the business will fail. Also, financial institutions and backers aren't too keen on lending money to those individuals that have not speculated how to create a positive return on investment.
This is without a doubt, the most important thing in being an entrepreneur.

- Take a lesson from Plutarch, "Keep your friends close, keep your enemies closer." - Know your competition. Innovate and capitalize on a flaw within their product.

- Flexibility is key. This does not mean waver at the slightest pressure but being willing to diversify when necessary and to not be afraid of straying from the status quo when an opportunity arises.

- Some people fail numerous times before they find their niche and succeed. A person needs to learn from mistakes, their own and others' follies, and makes the necessary changes to their game plan.

- If a person can go to bed knowing that they have not violated any rules of ethics to achieve his/her goals, whether or not they have made $50,000 a year or $5 million, they are a success.

Many libraries have fantastic business sections. Most public libraries in major cities also have entrepreneurial and small business sections. Some even sponsor entrepreneurial contests with chambers of commerce or corporations.
Colleges and universities that have a business school are not only doing cutting edge research; they also have connections to numerous corporations that offer entrepreneurial workshops, internships and experential learning opportunities.

Business lessons can sound cliche. Learning what guidance to trust is important. While a neophyte may have the energy to take on mountains, many elders have experience and wisdom. Find a balance.

Answer 5

It's about people, people can make a company rise or fall, and without them how can it grow?

The people are the customers, employee's, employers, people you do know, and the majority you don't, from here and there.

It takes 1 talented individual, a person with an idea, a thought from perhapes a dream, that's creative, that keeps focus and take what they do seriously enough they make the time and do their best with dedication, and not give up, roll with the punches and adjust to challenges along the way, and apply the idea's and keep with them, but at the sametime being able to keep up with changes and advance forward while keepin it real and not forgetting who they are and where they came from while keeping a positive and realistic attitude.

There's up's and downs to everything, knowing you've achieved success is knowing you've accomplished or exceeded what you originally you dreamed to do and have gained a sense of real comfort or peace with ones self with what has been accomplished.

We continue to learn more each day the learning never ends, but if there's 1 thing in particular to learn from an entrepreneur, it's that someone actually went out there and did or tried an idea of something, and it made a difference somehow by making it a reality.

Gotta keep that interest going...

It's 1 thing to dream it, but it's a whole other thing to actually build it, some people talk about making the place a better world and spend time focusing on complaining about problems, while others spend time actually making solutions for the problems.

Answer 6

That even failure can have it's lessons. Just because the business may not succeed or flourish, we learn more from trying and failing than we ever could by not trying in the first place. This is why I tell my children to give anything in their range of interest a shot. If they fail at it, after trying their best, they go on to something else. I feel like they learn more this way than sitting on the couch eating Cheetos.

Also, that education and knowledge supports the idea. For instance: I had the idea for integrated car seats for children about 5 years before they came out with them. But I had no idea how to patent or market it. Also, I had an idea several years ago about acrylic cubes made into fish tanks for coffee tables and end tables. Sure enough, I opened the Sky Mall magazine on a United flight several years later and there they were.

Either time, if I had understood the basics I could be almost as rich as you :-). So basic knowledge of business and legal practices is key to the success of the idea.

1. You should find what you enjoy doing, and get exceptionally good at it. Someone will pay you to do it, enough for you to make a successful living. You can't sell what you don't believe in.
2. A true entrepreneur sees the need of the customer before the customer even sees it.

PS. It was great fun to see you on here.

Answer 7

I am not an entrepreneur, but would like to be and know the basics.
1. Face your fears head on.
2. Keep an open mind. A closed mind will keep you from surprising innovations.
3. Surround yourself with those who are strong where you are weak.
4. Be dynamic. In the ever changing world of business, you must be changable. There is a saying, if you always do what you've always done, you will always get what you always got.
5. Dare to be different and aim high. Who is the benchmark? Not you? Ask yourself why and answer the burning question with action and change.
6. Be innovative and constantly improving on your products and techniques, streamlining your business. Innovation is the key to gaining new business.
7. Solve problems while they are small, and have prevention programs in place. They will save money in the long run.
8. Already have a large problem you cannot easily or cheaply solve? You are too close to the problem...ask the guy in the mailroom, he will probably give you a viable answer in 30 seconds. Value every employee.
9. Remember, the most successful entrepreneurs are only the ones who have also lost the most......for every 3 great successes, you get 7 failures. How you deal with losing a million dollars will also tell you how you will deal with gaining a billion. It is the commitment to action that is the key to success. Do not fear loss.

Answer 8

We can learn what steps successful entrepreneurs took to achieve their goals. However, it doesn't just end there. Life is short, and some achieve their goals earlier in life and more efficiently than others. What a successful entrepreneur does on a daily basis counts heavily. The ultimate goal is not the point. Successful entrepreneurs would make each minute or hour their lives count toward their ultimate goal. If we could take a look at their schedules on a daily basis, a weekly basis, and then a monthly basis, we can learn a lot from that. Try to find a successful entrepreneur and see what the person does on a daily basis. They are creative and know how to manage their time very well.

Successful entrepreneurs will also tell you to talk to people who are supportive of what you're trying to achieve. Don't talk to the ones who are not because there is always a solution to every problem.

Answer 9

I am not an entrepreneur, but this is what I see from those who are successful and those trying to be successful. ....You really got to want it and LOVE working hard to achieve it. Education in business helps, a natural sense for business matters and a brain that loves to play the game is a must. If there appears to be failure, it should be used as a lesson learned. The old cliche "if at first you don't succeed...try, try again" seems to hold wisdom for those who DO succeed. Once "success" is achieved, one still has to keep the same work ethics or success will be lost. The need to keep on "keeping on" never ends...it is a way of life. I am sure for some that luck plays a part in success. But....I also believe that people need to make their own luck. There is a need for committment and dedication to stay for the long run. Being an entrepreneur is not a profession for the weak willed.

I cannot give you advice, you are still an active player. You have the mind of a person who truely loves playing the game and working hard to achieve new goals. If the day arrives you no longer want to play and you lose your love for what you are doing...you will go in another direction or create new goals that facsinate you and renew your energy.

I would also like to add "no excuses"....There is no excuse acceptable for "failure". Once excuses are used, the ability for future success is lost......This is more of a life lesson, not just for those who want to be entrepreneurs.

Answer 10

From everything that I have read, it seems that entrepreneurs that are successful have a few things in common. First, they bring something new to the table. Perhaps it is an old idea. They think outside the box, turn the concept into something different, and they make it their own. Other times, they have something completely unique and new to sell to the world. They're full of innovation and creativity. Second, they are willing to take risks so they can expand and grow. They're not afraid to try, and work hard day and night to get where they want to be. Third, the hours are long and they commit and dedicate themselves entirely in their work, but they have to believe in what they are doing. Sleepless nights, lots of coffee, they do what it takes to get through the rough spots because they can see the finish line. Finally, they know they will be successful. They carry no doubt and have confidence, without being overly cocky, that they will make themselves, and their company, what they envisioned from the start. They don't ever give up and look to the future possibilities. That is the biggest difference between an entrepreneur and a small business owner, the entrepreneur is always looking to grow and to become more. They visualized it from the start of everything, worked their planning around it, and won't ever quit on the idea of making it big.

Answer 11

There is no "list" of lessons that can be learned from entrepreneurs. Just like in everything else in life there are probably as many things, or more, to learn as there are entrepreneurs. Since there is not a single road to success, watching and listening are probably the two most important things to learn.
Watching the way others perform, and the methods they use would easily fill a very thick volume. Each entrepreneur, as an individual, could look at the same problem, but deal with it differently. By watching, you can learn numerous methods of handling something that needs to be dealt with.
Listening to others talk is as essential as watching. So many clues to success are handed out without people even being aware of it. As entrepreneurs talk to each other, they exchange information that can be exactly what someone else has been searching for frantically. By listening, you can hear both the positives, as well as the negatives, of dealing with a situation.