startup

Here is the success key for entrepreneurs:

We all know that there is no concrete Formula for success as it depends on many factors. An entrepreneur who has below mindset will have success chances very high. Usually a formula will be invented against an existing problem. However, every startup is a new problem. Consequently, you have to find solution for your own startup. Success formula that I am going to discuss in this article is: How to find a formula for success.

Who focus more on goal:

Entrepreneurs starts the business for money, it may not be wrong either. However, majority of them says  focus on goal rather than money as money will obviously fall in. What is the reason behind it?

Let me explain

• Is my product values for 100 bucks?
• Am I getting 100 bucks for my product?

The expectation between these two questions will make a lot of difference to drive the show for an entrepreneur because ‘Is my product values for 100 bucks?’, this question will produce quality of product, it will produce right customer need, it tags minimum available price with reasonable margins. Eventually customers and money follows you.

‘Am I getting 100 bucks for my product?’, this question ignores quality of product, it will not produce customer need it tags maximum available price with maximum profit margins. Eventually product will fail in the market and you will incur losses.

Who can trust and enjoy his path:

Most important thing in entrepreneurship is believe in yourself and the Path you choose. Enjoy doing  every task  in order to reach the goal. Entrepreneurship is different game, don’t compare with any other profession. Stick to your belief and start the journey. Don’t compare with others as it is not their cup of tea.

You choose the path to be a billionaire.You choose a path to enjoy social status, you choose a path to provide all available luxuries to your family, you choose a path to create employment, you choose a path to create your own kingdom. Eventfully don’t you think your desire demand more efforts, patience and dedication? Consequently, believe in your belief and enjoy your path all the time.

Who can predict threats:

Predicting threat is another important thing in entrepreneurship. For instance, just jump from 20 feet wall, there will be very minor injuries as you were prepared to jump. If some one push you from the same wall, you will end up with big injuries as it is an accident.

Similarly, if you go beyond 100 mph you may end up with big injuries in the city limits. However, you may not have any damage though you go beyond 200 mph in a race as you are well prepared for threats.

Consequently, if you are well prepared for threats in business, risks can be minimized. Success chances can be maximized.

Who stick to basics:

Majority of us forget the basics, it could be mathematics, science, business, a personality and anything in life at some point of time.

Failing your startup, delay in funding, business model may not work, product may not be market fit, money will burn out very high you need to build it from scratch, many things are uncertain as every startup is different by its nature, you may have to work in ten different roles which is not your expertise. You need to work for long hours and you may have to travel alone.

These are pretty basics for any entrepreneur. Consequently stick to basics.

Who can balance mind :

Balancing temper is not so easy under pressure, when we lose balance it leads to make wrong decisions. Take a break refresh your mind. Things may not favor you, people may not listen, you may not have good response for your product from the day one, you may remain alone in journey, returns of your investment may delayed, funds may be another issue. A person who can balance the mind and  Keep doing the work in the best way he can, eventually there will always be big power that will protect the truth and provide the success.

Who has decision making skills:

Decision making is all about having  presence of mind, self confidence, and clear understanding of the problem. A person who can make decisions with these three qualities under pressure is a real  entrepreneur. Decision making is directly implies to self confidence, many people doesn’t have. These guys usually depend on others, to my knowledge decision making plays vital role in life and business as well, majority of the times you are alone as an entrepreneur. Self confidence and decision making skills are two great things in the journey, you will achieve nothing without these two in the life.

These are the basic attributes every entrepreneur should have to derive success formula.

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