Regardless of how we define it, success can feel like an elusive target especially in business. Any venture entails inevitable risks, setbacks and unanticipated challenges. It requires broad range of knowledge, great talent in communication and an attitude that says “I can definitely do it!” More than this, setting principles for yourself will help you professionally grow while progressing your company. Making time to ask the right questions and strategizing your movement in the early stages will help you shape direction and priorities over the rocky road to come. Here are some fundamentals to success that every entrepreneur should follow.
01 Make a plan, but be flexible
When jumpstarting your career, people ask what your five-year plan is. Founder and CEO of Tumblr, David Karp, says that an entrepreneur has to have a vision for
something and a desire to create it. Indeed, having a vision is important, but setting realistic goals and milestones must be considered. For an idea to get big, a humble prototype should be focused on and small incremental goals should be established. Rather than instantly predicting what your company should be like in five years, narrow your attention to small steps in order to be ready whenever a setback comes.
02 Execution, execution, execution
Success doesn’t necessarily come from breakthrough planning, but from great execution. A great strategy alone cannot make you win a game, right? It also requires the ability to block the rival and tackle the missions with the right timing. No matter how much you work on writing your business plan and perfecting your Powerpoint presentation, adapting according to the ground realities will eventually have to happen. Most people are scared of taking action rather than simply hypothesizing because it may lead to unexpected failure.
03 Embrace the struggle
Apple cofounder and late CEO, Steve Jobs once said, “You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future.” The challenges and problems we face in our lives represent the roadmap to greatness. The only way to nurture grit and capitalize on the opportunities that challenges offer is to demonstrate an unshakable will to thrive. It’s a counter-intuitive concept but what stands the way is the way to success.
04 Manage energy, not time
Social life, family, work demand time and the only solution in mind is time management. However, more time won’t help when you’re already mentally, physically and emotionally exhausted. Productivity in work and perseverance to success is possible without risking your health by managing energy instead of time. Prioritize what needs to be done first by crafting your to-do lists well. Or simply getting rest within workday can reduce stress which will boost motivation to accomplish more
05 Take risks, but be resilient
We never know the outcome of our efforts unless we actually do it. Being an entrepreneur requires similar kinds of emotional and psychological fitness so that you don’t become the chokehold on your business’s success. Marissa Mayer, Yahoo’s CEO, says “I always did something I was a little not ready to do. I think that’s how you grow. When there’s that moment of ‘Wow, I’m not really sure I can do this,’ and you push through those moments, that’s when you have a breakthrough.” If you wait until your product or service feels perfect, someone else will already be doing a better job of helping your customers solve their problems. Validate your own business idea by launching fast, but never forget to stand up when you accidentally fall down.