Principles of Success as an Entrepreneur
Prajwal Krishnan / March 02, 2022
4 min read
There is no easy formula for entrepreneurial success, neither is there a clear definition of 'success'. The measure of success differs from person to person. A successful entrepreneur to some, has a strong inner drive that helps him or her to succeed, and it's a lot more than just making profits, it's about the service.
That being said, it can be demotivating for some when they do not see enough cash inflow in proportion to their efforts. Over the years, I have identified and adapted a process that focuses my efforts in productive ways in order to achieve successful results.
I believe that there are three principles that will help any entrepreneur be motivated and soar:#
The price of greatness is responsibility#
In general, we tend to blame everyone and everything for the failures we’ve faced. Whether it’s in regards to genetics, economic circumstances, the government or even our parents for the problems we face daily.
To be successful and do great things in life, entrepreneurs (or leaders in general) need to take responsibility for every facet of their decisions and failures. One of the most important qualities a leader can have is a sense of responsibility and dependability.
As a human being, there is only one person who is solely responsible for the outcome of your life and the quality of your life and that person in you.
Shaping a positive mindset#
Entrepreneurs have to always be thinking, always on the go. The chaos that it is of running a startup or a company can easily drive you to burn out before even developing a product. In order to release some tasks, you need to have good processes in place as well as the right people on the bus to steer it in the right direction.
But now consider this: there is nothing like leaving your business to someone you don’t believe is capable of handling issues and making decisions, which means you won’t.
Most successful entrepreneurs are able to let go and delegate – they realise that they need to hand over operational elements of the business so that they can focus on strategy and growth. But they’ll never (or rarely) choose a negative person to hold that position, or level of responsibility – at least not twice.
Our thinking shapes our life. We know that a person who thinks positively about themselves will do greater things than that of a person who thinks negatively.
This principle is even more important in how we view ourselves and where we see our businesses going. People with a positive mindset are able to accomplish amazing things. Our mind controls the brain and this is important to understand as entrepreneurs. Don’t just look for positivity in your employees – demand it of yourself as well.
Finding your passion#
Thinking, feeling and choosing our thoughts are paramount and fundamental factors that shape our realities. Eleanor Roosevelt once said, “no one can make you feel inferior without your consent.”
Building a business for success is dependent upon you from this point on, and whether or not you can believe enough in yourself to ignore the naysayers and survive the inevitable failures that lie ahead.
Passion is the fuel that propels us to take flight in any significant measure of achievement or success. Passionate people are the source of real change in the world. Leaders and Innovators in every industry share one thing in common: They love what they do.
Finding passion for what you do will propel you into future success and help your vision take flight. An entrepreneur’s passion is easy to recognise; your emotions will grip you, overwhelm you and will be devoted to find your purpose.
Every person will be remembered for their passion or forgotten for their lack of it.