Entrepreneurship has many challenges, and many determined entrepreneurs have learned from them.
As the saying goes, “It takes a wise man to learn from his mistakes, but an even wiser man to learn from others”.
Here are a few lessons we need to learn from determined entrepreneurs:
1. It’s okay to say “No”.
Saying “no” can be a challenge when the society expects business owners to always say yes to customers. However, saying “no” sometimes may actually the best for the business. There is a need to set boundaries for the good of the business, and policies help a business’ operations. While there are some exceptions to the rule, we mostly need to stick to the policies in order to protect the business. Determined entrepreneurs know this and they know that it’s okay to say “No”.
2. Value timelines.
While optimism is a quality common to many entrepreneurs, they also know that timelines are critical to the business, and how it is important to set realistic timelines. Timelines help organize the business and help one assess how far the business is going. Timelines also make goal-setting more efficient.
3. Don’t try to do everything.
Being an entrepreneur can be overwhelming, there is so much work to be done and almost not enough hours to complete them. Determined entrepreneurs know they do not need to do everything themselves. They know what they should and should not do, and get to accomplish what really matters in the business. They delegate the things that they don’t like doing and even delegate the things they love doing because they want to focus on what matters most in the business. Determine what your priorities are, and learn to let go of some control in your business. Delegate and trust other tasks that you know will be done better by others.
4. Don’t burn bridges.
While there can be many competitors in a certain trade, determined entrepreneurs don’t burn bridges. They don’t try to beat others unhealthily but instead improve themselves in order to get ahead. They understand that in one way or another, these “competitors” can help them in the long run, and they make sure not to “damage” other businesses’ reputation because they know it isn’t healthy. Determined entrepreneurs treat “competitors” as colleagues in the industry whom they can network and learn from.
5. Learn as much as you can.
Determined entrepreneurs never stop learning. They learn from setbacks, and they continuously learn new things and keep doing so. They know they need to continuously improve themselves so they can give their best. When they make a mistake, they use that lesson as a takeaway to improve their products and services. If you are a determined entrepreneur, you know how important continuous learning is, not only for your business but most especially for yourself as an entrepreneur.
Determined entrepreneurs have overcome many setbacks in their personal lives and in their business. They know how important it is to keep in mind the lessons that help them with the business, and they prosper because they are wise. Remember these lessons from determined entrepreneurs, and your business will go a long way.