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You may be wondering what it truly takes to become an entrepreneur. While there is no cookie cutter method for everyone, there are 4 foundational principles that successful entrepreneurs do follow.
1: Work smarter, not harder
The key to becoming a successful entrepreneur does not involve working during all your waking hours. While you must work hard to become successful, we must know when to delegate. Most of us are only really great at a few things and are average at some other things, but there are a lot of things that we are just not good at. So, delegate tasks that other people can do better than you and create a system that you can then manage.
Doing everything on your own also leads to burn out and feeling overworked, which leads to making mistakes. Great outsourcing websites that you could check out include Fiverr, Upwork, PeoplePerHour and Freelancer.com.
Work smarter, not harder.
2: Get more done and spend less
Freelancers generally cost less than fulltime employees, especially if they live in another country where the cost of living is lower. While this may not be the ideal setup for a large established company, it is highly effective for start-ups and micro businesses. Plus, freelancers are only paid for the work they do, so this is a really cost-effective way to build your team.
So get more done and spend less.
3: Don’t be afraid of failing (because you will)
Running a business is risky, period. There are no guarantees that any strategies you adopt or decisions you make will be the right ones. There will be times when you will fail, or even close down your business. Be comfortable with failure, just remember that when this happens, not if, but when this happens do not give up. Great entrepreneurs usually have a certain level of tenacity that some would even call extreme.
So don’t be afraid to fail.
4: Wake up each day with purpose (like a man on a mission)
The reason most successful entrepreneurs achieved their goals is simply the fact that they got up every morning and just did it. They worked hard every day and just got it done, and pushed through difficult times. It is not about being smarter, richer or better, success is what separates those who make things happen from those who are just waiting for something to happen.
Which principle do you need to work on? Tell us in the comments section.
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About the Author
Taneallea Feddis,
Founder/Managing Director, BlackWall Consultants
She is an educator, website designer and content marketer.​ She helps entrepreneurs develop their business through coaching and developing their digital strategy. She is passionate about teaching new skills to others, and her goal is to encourage and assist Caribbean businesses with their digital transformation and sharing in their success stories. Click here to learn more about Taneallea Feddis.