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

Happy Halloween! This is a Halloween edition training. It’s 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.

1. You DON'T need a lot of working capital or good credit to start your business.

Be resourceful, be creative, have some grit, 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.

2. You DON'T have to be first to market.

You don’t have to be the first to market in order to succeed, but come up with a good product, and it has to improve 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 is needed is finding 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.

3. You DON'T need perfect timing to be a successful entrepreneur.

It will never be the right time to start your entrepreneurial endeavor. What is more important is 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 to get started and to be adaptable and flexible in a changing environment.

4. You DON'T need all the right contacts in order to be a successful entrepreneur.

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. Eventually develop the contacts along the way, and again, just like timing, if waiting for those right contacts to come then you’ll never start the business. Start the business, start networking, go and start talking to people.

5. You DON’T have to have experience in the endeavor that you want in order to be successful.

I would highly suggest that you find a mentor, and going back to contacts, find people that have experience in that industry, in that profession, in that service so that you can learn from them. My greatest lessons came from experiences that resulted for me trying different things in whatever entrepreneurial endeavor it was that I was pursuing.