After reading various books on Entrepreneurship Mindset and listening to Leaders and Successful Businessmen.
These are some of the points you need to keep in mind in order to be a successful Entrepreneur.
Mindset creates the Skill-set further making your Rules to success.
Time is Money.
Make money work for you, not the other way around.
There are mainly four kinds of Individuals working towards wealth creation:
- Employed, Self-employed: People who work over time for earning money.
- Businessman, Investors: People who make Money work over time for them.
Hand rule:
- Thumb:: Strength of character: Absorb qualities that help you stand strong, Integrity, Authenticity, Responsibility and most importantly Enriching others.
- Index:: Focus: Know where you’re going and constantly strive. One goal at a time.
- Middle:: Know what you stand for: What is it that you represent. How do you want others to perceive and remember you. Be firmly tuned to that principle, and give your all to make it happen.
- Ring:: Relationships: This is a team game, you need good players with you to win. By good players, I mean good partners, accountants, attorneys, marketing guys, tech guys and staff.
- Little:: Unique: Do something no one else does, what only You can deliver.
Assets feed you, Liabilities eat you.
Assets keep adding into your income, whereas Liabilities are those which come in the expenditure tab.
Saving:Investment:Charity
Always divide your time and money in equal proportions for each of these. Although there are various mentalities who have different priorities and different ratios, decide according to your understanding.
Better financial deals lead to better financial security.
This means that the deals you choose should be after careful research on each, do a SWOT analysis on every 100 deals, then choose 10 out of them, then 3 and finally 1. That 1 deal will be more rewarding than 100 other deals.
Understand CASH-FLOW.
It’s not about how much money you make, it’s about how much money you keep.
Aim on acquiring more and more sources of income, Assets.
Strive to do better.
Never give up on yourself and your vision. Be the best version of yourself and never lose it.
Don’t yield to mediocrity, Aim for the stars and you’ll reach the sky.
Essentially every business is fundamentally a collection of five interdependent processes, each of which flows into the next:
- Value Creation: Discovering what people need or want, then creating it. Beginning of the supply chain.
- Marketing: Attracting attention and building demand for what you’ve created.
- Sales: Turning prospective customers into paying customers.
- Value Delivery: Giving your customers what you’ve promised and ensuring that they’re satisfied.
- Finance: Bringing in enough money to keep going and make your effort worthwhile
Experience makes you smarter.
You have to understand that this is a game, the more you practice, the better you get with time. Be ahead of others in this game, you have to have the vision 5 years from now to know your daily mission to reach that goal.
It’s about constant learning, always be a Student. Seek mentors, observe or just ask.
Do your research, you have to go through the process.
Know the What, How and Why you’re working. Design your business properly.
Never be afraid of losses and failures, they all come in the learning process. Hard times bring new opportunities.
In order to win, you need to be there even if you fail, a million times over. That’s the attitude one must have.
Never, Never, Never give up!
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