Top 5 Things YOU DON’T NEED To Be a Successful Entrepreneur

Happy Halloween! This is going to be a quick five minute training, and I’m going to be covering with you the top five things that you DON’T need to become a successful entrepreneur

Tip #1:

You DON’T need a lot of working capital or good credit to start your business, so, there have been countless examples of wildly successful entrepreneurs and business owners that have started their business out of their kitchen table or garage.

You don’t have to have money to start a business. Now, does it make it easier? Yes, absolutely, but the reality is what is going to make it even easier is for you to develop the ability to sell and promote whatever that product or service is, okay? You’re gonna have to be resourceful, you’re going to have to be creative, and you’re going to have to have some grip, so if you don’t have working capital and you don’t have good credit, then what you are going to need is a cellphone, your mouth, and a website. You’re going to have to go out and become the biggest product ambassador or service ambassador of whatever business it is that you’re going to start.

You need to start talking to people, you need to go out and start promoting it, and yes does that mean that everyone is going to respond positively or favorable to whatever product or service it is that you’re bringing to market, NO, probably not. If you talk to enough people and you develop those skills to sell, then I’ll tell you what eventually that product or that service is going to make it to market.

Tip #2:

You DON’T have to be first to market. Now, I don’t know if you know it or not, but Microsoft had tablet computers out, you know, over a decade ago. It was not the first type of tablet computer that came to market. Then Apple came out with the IPad, and really crushed whatever dream that Microsoft had at that time. Now, year later, Microsoft does have the Microsoft surface. I enjoy that product. I use both the IPad and I use the Surface. My point is, Apple wasn’t first to market the tablet type of computer, Microsoft was. Facebook was not the first social networking site.

We all know about Friendster, we all know about MySpace. You don’t have to be the first to market in order to succeed, but you better come up with a good product, and it has to approve upon the products of old, so don’t think that just because you make it to the market first you’re going to be successful.

You don’t need to be, but what you need to do is you need to find a product that might already be out there and find a way to improve upon that product or that service so that you can be successful at it.

 Tip #3:

You DON’T need perfect timing to be a successful entrepreneur. Now let me clarify what I just said, there are those of you that are going to consider starting a business or an entrepreneurial venture and you’re waiting for the economic climate to be right, you’re waiting for the stars to be aligned, you’re waiting for the capital to be there, you’re waiting for your mood to kick in, and you’re waiting for all these things to combine so that they can create the right time for you to start that business, and it’s never going to happen, okay? It will never be the right time for you to do something great. It will never be the perfect climate for you to start your entrepreneurial endeavor. I’m going to say that again. It will never be the right time for you to start your entrepreneurial endeavor. What is more important is for you to get started, you can’t wait for everything to be right. It’s never going to happen and while you’re pursuing this entrepreneurial endeavor, whatever it might be, there will always be things that are going to change, so what is more important is for you to get started and to be adaptable and flexible in a changing environment. That is more important than you sitting and waiting for all the right conditions to be met.

Tip #4:

You DON’T need all the right contacts in order to be a successful entrepreneur, so like having working capital and like having good credit, do having the right contacts make it easier? Absolutely. We all know this, but that doesn’t mean that you can’t be successful because you don’t know the right people, okay? That my friends is another excuse that the wannabe entrepreneurs use so that they don’t get started. Yes, you may not have the right contacts, but start anyway.

Start whatever endeavor it is that you want to start, start it today, start it now. You will eventually develop the contacts along the way, and again, just like timing, if waiting for those right contacts to come into your life then you’ll never start the business. Start the business, start networking, go and start talking to people. Start- Start asking for people to be your mentor. Start going to organizations, start going to conferences. Will it take time, will you have to invest money? Yes, that is all apart of it, but don’t let the excuse of not having the right contacts prevent you from actually getting that endeavor started.

Tip #5:

Experience. You DON’T have to have experience in the endeavor that you want in order to be successful. Does it make it easier, of course it makes it easier, we all know this, but that doesn’t mean that because you don’t have experience you can’t succeed. I would highly suggest however, that you find a mentor, and going back to contacts, that you find people that have experience in that industry, in that profession, in that service so that you can learn from them, but people love making excuses, and so they will say “well I really don’t have any experience in that profession, I really don’t have experience in that service related industry, and so because I don’t have experience I’m not going yo get started.” Again, that’s an excuse. Stop making excuses. Stop feeding yourself excuses about why you can’t start something. Go out there start learning, start taking courses, start watching videos on YouTube, start listening to books on Audible, start really really becoming obsessed with getting information of the industry or the profession of the service you want to pursue that entrepreneurial endeavor. Once you do that, you will start to see that eventually you’ll start learning. My greatest lessons came from experiences that resulted for me trying different things in whatever entrepreneurial endeavor it was that I was pursuing and screwing up. You’re going to make some mistakes. It’s going to happen, it’s far for the course, accept that.

You have to be bad before you can be good. If you think this is going to be a cakewalk and if you think it’s just gonna be smooth sailing, you’re feeding yourself a bunch of malarkey. It’s not going to be easy, you’re going to have to learn that profession, you’re going to have to learn that service, you’re going to have to learn new skills that you haven’t learned before, but you might as well embrace it. Just understand that that’s apart of the process.