5 Steps to Becoming a Successful Entrepreneur
by Summer Alexander on October 15,2016
I’ve been blessed with the opportunity to pursue my business full-time since its launch. I’ve also been blessed to teach, train, coach and advise hundreds of entrepreneurs and the number one question I receive is “how do I become a successful entrepreneur?” It have not been easy, I have been in debt and used debt arrangement scheme information to get out of it.
People are usually taken aback by my response: “I don’t know.” Or more accurately “I don’t know how you can become a successful entrepreneur because I don’t yet know what success looks like for you.”
I can show you how to market your business more effectively and therefore attract more clients and revenue but neither of those in and of themselves are necessarily the sole ingredients for success.
When I first started my business I had some pretty lofty goals one of which was having one of the largest African American owned market research companies in the US. Hmmmm. Well it sounded good at the time.
It took years of my working my business and better defining the kind of work I actually love to do (speaking, teaching and coaching) instead of the work that I thought would make me some version of success that couldn’t be further away from actual dreams and goals.
Success is relative.
It turns out what success really looks like for me is having freedom, flexibility, finances and peace of mind. I love the fact that I am home every morning to take my son to school. I love the fact that when I pick him up in the afternoon it’s no big deal for me to let him enjoy playing at the park for an hour or so before heading home.
I create my own schedule, decide what projects and engagements I’ll sign on to work, and what clients are the best fit for me. Do I sometimes stay up late or work on weekends to get important tasks done? Sure I do but only because I like to stay up late and don’t mind working on weekends. I know what you are thinking:
But do you make any money?
Absolutely. I’ve worked projects where I have earned anywhere from $5,000 to $75,000+ for a single engagement. All of this after starting my business with only $26.
Success is not only relative, it’s also progressive. Earl Nightingale said this:
Success is the progressive realization of a worthy goal or ideal.
So what does success look like for you? Hear are 5 steps to help you get clear.
#1 – Define Your Goal. As cliche as it sounds success really is a journey and not a destination. What you think of as being successful this year will very likely change next year.
That’s why it is important to get clear about what your goals are. Not what you think they should be, not what someone else’s goals are and certainly not what someone else says they should be.
Define your goal in terms of what your ideal schedule looks like, the kind of people you want to work with, the lives you plan to impact, the money you desire to receive, the places you want to travel and the causes you want to support.
#2 – Develop a Plan. Based on where you are today, in this very moment what steps will you need to take to start moving towards your goal? What resources will you need? Will it be necessary to seek outside help? (Hint: it usually will.)
#3 – Take Action. I’m guessing you already know this but a plan without implementation is an idea. On paper. You cannot just take action, you have to take consistent action.
#4 – Stick to It. It will get hard and you will get discouraged but if you continue to move forward and make adjustments to the areas that are not working, you will see success.