What are the 5 Secrets to Entrepreneurial Success?
Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.
5 Secrets to Entrepreneurial Success
I found this article/blog by Adam Doran and feel that its spot on and I’d like to share it with you.
I have blogged about entrepreneurship, taking the step to become independent and stepping up to this challenge that can create a lifestyle that you dream about. Adam does a very nice and concise job in making it simple.
Do you know your WHY? Adam does a great job explaining just what a WHY is and shares some ideas that can help you identify your Why.
His Secret #2, Prioritization/Focus is very good in helping to define higher and lower priority activities and maintaining your Focus.
The next 3 Secrets…. well, I’ll just let you read them for yourself and see what you think.
Here is Adam’s Article. Enjoy.
“Entrepreneurship isn’t just reserved for smart or “privileged” people. Rather, your entrepreneurial success hinges on a fundamental understanding of several secrets that form the foundation for life success, in all areas.
Secret #1: Inspiration
Inspiration is the starting point of great things.
The greatest plans, organizations, products, and systems are born out of inspiration. There has to be a vision, a big picture, something greater than yourself, that wakes you up in the morning and moves you emotionally—to the point of tears, even.
This is often referred to as your “Why.” It’s what you’re all about. It could be to give your kids a better life than you had. It could be your desire to leave a massive multimillion dollar donation to your church or favority charity. It could be to spread an important message that you believe so strongly in, you can’t stand the thought of people not knowing about it.
Whatever it is, the vision, mission, and purpose of your business is driven by your “Why”.
Secret #2: Prioritization/Focus
Once you have your “Why” figured out, it should drive your system of prioritization, which will keep you focused.
Daily business activities that take you measurably closer to your vision receive top priority. Other activities which don’t should only receive attention once you’ve completed the higher-priority tasks.
As your business grows, you won’t be able to complete all your objectives. That’s fine. Remain focused on high-priority activities, and either higher employees or outsource the lower-priority tasks.
If you don’t, you’ll lose focus as your attention is distracted with activities that aren’t helpful in accomplishing your business purpose and don’t carry you towards your vision. This becomes a cyclical trap that MANY business owners fall into.
Successful entrepreneurs learn to stay focused on the priorities, so their businesses can continue to grow and thrive.
Secret #3: Mentorship
Wealthy and successful people have mentors–individuals with a higher level of knowledge and experience in their chosen life’s work.
Why?
Because they understand that you don’t know what you don’t know. Thankfully, you’re surrounded by men and women who have gone before you, and who possess the knowledge, experience, and wisdom necessary to guide you to success.
If you don’t know who your potential mentors in your existing social circles are, it’s time you start being more social.
Be humble, get past your self-image, and find yourself several mentors.
Central to your ability to receive mentorship, is your willingness to ask questions. Let your humility and desire to learn develop good questions, and jot them down as your mind formulates them.
Keep a notebook of your questions, and have it with you when you hold meetings with your mentor. Having a mentor will give you a necessary edge for success as an entrepreneur. For more on this, see my article, Why Have a Mentor?
Secret #4: Action
It has been said, “To whom much is given, of him (her) much will be required.”
I would re-order that statement with the, “much will be required,” part FIRST.
You have to take MASSIVE ACTION, right now.
There can’t be any sitting on the sidelines contemplating–get in the game!
Inspiration is powerful.
A laser-sharp focus and experienced mentors add to that and form a great launchpad. But to get off the launchpad you have to actually fire the rockets.
Whatever your first step is–picking up the phone and calling a prospect, giving a presentation to a group, recording an informational video, it won’t get done until YOU get to it!
You have a vision, you’ve planned, you’re focused, and you have support from your mentors–now DO SOMETHING!
Secret #5: Continuous Growth
Successful entrepreneurs understand that their market, and hence their business, is always changing.
We live in an age of continuously increasing knowledge. Have a sense of humility that says, “I don’t know it all, but I’m willing to keep learning.”
There’s always a better way, and new problems are always developing that have no known solutions.
Discover the solutions to these problems and you’ll find new business niches. Always work to develop and hone your sense of perceiving the needs of others around you, then structure the solution and organize the business that will meet those needs.
Always seek knowledge and develop yourself continuously. For more on that, see my article on The Least-Risk, Highest-Return Asset.
The five secrets I’ve shared in this article are fundamental to your entrepreneurial success. Oversimplified? I don’t think so. No matter what you’re seeking success in, it always comes down to the fundamentals. Learn the fundamentals, anchor them in your mind, and build on them with your own experiences. Keep it simple, and you WILL succeed.”
I hope that you found value in these 5 Secrets that Adam Doran shared with us here. Here is the link to Adam’s blog and website for further information and helpful ideas.
As always I hope that you’ve found some value from this blog.
Dan Fontaine
These are true elements of entrepreneurial success indeed, good write-up. I also believe the most important trait of any entrepreneur is persistence. To continue no matter what, which is closely related to the ‘why’. All good stuff!
Hi Jonas, thank you for you comment and accurate observation. An entrepreneur HAS to be persistent or nothing gets done or they stop too soon.
Hi Dan…great tips for success! I love the Jim Rohn quote at the top and is SO TRUE! “For things to change, YOU need to change.”
Its interesting isn’t it Evan, that when WE take action suddenly things start to go our way… Amazing!
Excellent blog post.
If we want results in our lives they wont come by chance, but by changing who we are.
The secrets you share here are to the point and people should listen to what you are saying here if they want success in their lives!
Thank You,
– Nestor
Thank you Nestor. I thought that this article was right to the point with very good information and food for thought.
Inspiration & Continuous Growth…they are not talked about lots, I am totally with you on this Dan. Awesome post, thanks for sharing! ~ Julie Syl
Hi Julie. Thank you for you comments and I agree that growth needs to be continual as does Inspiration.
Dan, those 5 tips for success are really important. It’s simple and yet it’s all up to the person if they want to take action and make that change. Great value and thank you for sharing. Have a great day.
Thank you Brown. So much in life is simple isn’t it? Yet we can struggle with taking action because of so many ‘little’ things that we allow to get into our heads.
Dan great post and those tips are amazing. So simple yet for some so hard to do. I also agree with Brown Letua it is totally up to the person. You can lead a horse to water but you can’t make him drink.
Fortunately the more I am doing within EN the ‘thirstier’ I get! Ha!
Thanks Dan, these are THE secrets and must do steps if you want to succeed in your business, as in life. Great post.
Hi Marko, thank you for your observation and comment. It really gets down to some very basic and simple actions and thoughts to get us to where we want to be.
Loved your 5 tips for success, great points to consider. Thanks
Thank you Gary. All of these sorts of lists have something for each of us. It may only be one on the list that provokes some additional thought but that is enough.
It’s like Einstein said in his definition of insanity: Doing the same thing over and over and expecting different results. If you want things in your life to change you have to change some things in your life. I also like what you said about the Why. Why is what drives you. It needs to be bigger than your temporary struggles and your mind telling you to stop. I found this post very inspirational Dan, Thank you.
Thank you Rochelle. It starts with a strong and genuine Why then taking Action. I saw the quote and thought that it fit rather nicely.
Great post Dan. The inspiration and take action part are most important to me. Once these are done I think mentorship becomes needed for faster growth. Love the quote… Thanks
Absolutely Luis! Knowing our Whys and dreams and taking action are the key for me as well. Action, any action almost, gets us moving.
Thank you for your comment.
Great Post! I struggle with #2. Great information I can take, apply, and improve on.
Ah #2, yes it is so basic but sometimes hard to do. For me if I am not focused or running around not getting things done, I have to stop and look at where my focus is and if it is one of my priorities, Then start again…
Thank you for your comment Paris.
Thanks for posting Dan – couldn’t agree more with you! There is a formula to success..the path has already been laid it’s just up to others to walk, crawl or run it! Appreciate ya! Trina G
The classic K.I.S.S. keep it simple , stupid ! Ha! Thanks Trina for you comment. There are so many people out there that can teash us so much that we don’t have to reinvent the wheel, we just need to be open receive the information that they are sharing.
These fundamentals are great reminders that our success can be built by simple actions. It starts with a decision and moving to action. Thanks Dan for sharing some really valuable content for the entrepreneur!
Hello Lynn and thank you for your comment. It really can be simple if we let it. I know that I have been one of those people that wants to have all of the information before I act and it didn’t serve me. Simple and consistent action is one of the keys isn’t it?
Hi Dan,
Thank you very much for the tips. I thoroughly enjoyed reading your blog and learning about them.
Sue
Thank you Sue. Sometimes we can make things too complicated can’t we?