Entrepreneur's Delight
A collection of write-ups from writers/authors willing to write on Entrepreneurship, Business, Corporate Leadership & Management.

10 Most Powerful Lessons for an Entrepreneur

Out of the little journey as an entrepreneur I have had here are 10 lessons that I would love to share:

1. Have a VISION

It's not just to be studied in classrooms or as part of workshops, it truly has depth. You need to know where you are headed or at least what you purpose is in the first place when you are starting your business. A lot depends on what exactly you wish to do and WHY. If your vision is to give the fastest service, you will design your products around TIME and if your vision is to give the most quality service then you will design your efforts around luxury and quality, while if your focus and vision is make it affordable for all then you focus on costs. If your vision is to make it global then you work your energies on going beyond all borders,while if your focus is on being locally global then work on your local emotions.

2. Start with small targets

First of all, keep targets and keep small ones to start. No one would want to start with demoralizing effect. If you take big targets and fail them one after the other, the only thing you will derive out of it is "I am incompetent", while if you take small ones and achieve them one after the other, then the only thing you will derive out of that is "BOY! I am AWESOME!!!" and you need just that when you are NEW in business.

3. Remember NETWORKING counts as much as Nett WORK that you do

Build a network. A network of people who you can rely on, get your expert opinions from, get small things done, get big things done, do things for, get yourself pepped up, spend quality time with an what NOT. Remember a network for all your needs is a MUST. Move out and TALK, build relations, build a NETWORK and you will see things will MOVE.

4. Don't build a team of workers, build teams that are passionate missionaries

You need to understand that you work hard as an entrepreneur not just because you wanna make money and truck loads of it, you do it because you know it drives you, you are mad about it, you are passionate, you are just like the missionary who forgot his way back home because he forgot he belonged there... Let others in the team also feel that. Let go the fear that having people like that will move you out of business because they would leave your company join other high paying jobs. Remember people quit because they run out of love or purpose, not just MONEY.

5. Believe in serving

No one ever lost his self esteem by serving someone else, it only gets stronger. No one ever was taken for granted because he served well, he was taken for granted because he OVER SERVED and did it only because he expected something in return. Just serve because that is your purpose and not because you might be offered bucks in return. Believe in the statement "Well served is Well done!"

6. Bucks come to those where the buck stops

Let's get it straight - everyone wants more bucks, but unfortunately it doesn't come to you because you just want bucks and don't want the buck to stop here. To understand this google "Buck Stops here" and read on it. Take it UP & DO IT! Bucks Follow.

7. You can't have it all: Don't believe this statement!

It's because others din't want to have it all or couldn't is why they coach you. Just understand - you can have what you want! Just be clear on what you want and plan it with patience how you would get there. Remember, nothing happens without giving it a time-frame and sharing the responsibilities with right set of people.

8. Reward yourself & your teams well

If you don't know how to reward, you just don't know how it feels to work hard and WIN something, may be because you haven't worked hard enough and always relied on other people's efforts or you haven't dreamt much of winning things at all instead you do things because they need to be done. In either case, please leave your business now, because you will be OUT OF IT soon and you won't survive. Better to leave then to get THROWN out, else reward and reward genuinely.

9. Stand up!

Not where you are.. but for SOMETHING. You need to understand what your principles are, what values define you and your business and stand up for them. Compromises are always there, but let those not be the only things in your business.

10. LAUGH, LOVE & LET GO: 3 Ls of Leadership

To end this write-up all I would say is Laugh and Love a lot, it keeps you sane, keeps you happy and returns you enough love, that money definitely can't buy. This in-turn gives you and your team enough power to deliver the same to clients & happy customers are the passionate missionaries you hire without paying them ever, Hire as many as you like costs you nothing but your laughter and LOVE. Fair ENOUGH! Understood it all - What's with this LET GO? Don't bother... Just let go and you will understand...

I dream to create a business organization that truly speaks of what's written above. Tell me what business you are into and if there is anyway Inspiration Unlimited or I can do something for you, we will.

sujitlalwani@iuemag.com is my eMail, if you have a thought you wanna share with me or connect to me in person. Just shoot an eMail and let's get the BUSINESS Ticking!

Copyrights © 2024 Inspiration Unlimited eMagazine

Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on October 2013.
Sujit Lalwani
Founder & CEO at iUeMagazine & SIMUS

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