5 Tips to Being a Successful Entrepreneur [Martha Spelman]

1. Coming up with an idea is the most fun — executing it… not so much. The idea is about 1% of the overall business; execution is about 99%. In other words, the day to day work is where success lies.

2. Most people just think about how great their idea is. They don’t think about how they will let people know about their great idea. Figure out how you’re going to market your business, and to whom (your audience), before you spend too much time or money on your idea.

3. Take criticism. Talk to people about your idea, show them what it does or how it works. Listen to what they have to say. You will not like everything you hear, or incorporate all of the suggested changes, additions, deletions or comments, but it’s all valuable.

4. Being an entrepreneur is not a get-rich-quick-scheme. Most businesses are not overnight successes. The best way to be successful, and make money, is to work the business, everyday, for a long time. Even if your business is viable, you may not break even for three or four years. You might not show a profit for even longer.

5. You will be most successful operating a business that you like (or love). Determine where your interests lie and what your passions are. Figure out a business that combines some or all of those. Making a lot of money is not one of those things. Do something you can’t wait to do, and the money will come.

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Martha Spelman: SBEC Mentor
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Martha Spelman
Marketing Consultant
Co-Founder Newzful -subscription-based site that provides useful facts, stats and data for content marketing
Author of The Cure for Blogophobia: How to Create, Publish and Promote Your Business Blog

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By | 2017-05-25T17:31:38+00:00 August 1st, 2013|0 Comments