It doesn’t matter which industry you plan to start a business in, you need more than just an entrepreneurial spirit to find the success you desire. Reading about other successful entrepreneurs will open your eyes to some of the struggles you can expect before finding the success you dream about every day. Here are a few things to help you move forward with your entrepreneurial journey.
Three Keys for Successful Entrepreneurs
1. Education
The struggle for many young entrepreneurs comes with traditional schooling. Education is very important, but with a creative mind, it can be difficult to understand how the skills one receives through classes at a community, state or private college will transfer into their own business. Many of the things taught in the college setting will apply to the business world.
Taking basic business classes, understanding economics and learning about the industry you plan to open your business in, will serve you well as you move forward. Not only will be able to use the skills developed through a college degree, but it also helps when you need help with financing. Presenting your business plan to investors without any education or experience in the industry usually won’t turn out positive.
2. Experience
Experience and education go hand in hand for entrepreneurs. For example, if your dream is to start a business in the health diagnostics field, you need both an education and experience within the industry. Gaining industry experience will help you to understand the challenges you will face. Imagine trying to start a business you don’t know anything about. Do you think it will turn into a success just because of your entrepreneurial spirit?
After gaining a formal education, experience will lead you towards your dream. Depending on the industry you plan to open your business in, you may need just a few years of experience or you may need a decade of experience. This is just another form of education, but its hands on and will help you with the decisions you will face daily in your own business.
Many successful business owners started at the lowest position in the industry and worked their way to a leadership role before going into business on their own. It will serve you well to understand all aspects of the business, from the lowest paid position to the duties of the management. You will better relate to those working for you and they will develop a different type of respect for you knowing you’ve been in their position.
3. Determination
One final thing every successful entrepreneur needs is the determination to keep pushing forward even when it’s not easy. Many successful entrepreneurs shut the doors to more than a few businesses before they found success. Famous restaurateur, Gordon Ramsey, closed his first restaurant before he found success. It’s common to fail a few times before finding success and without determination, you might give up right before you succeed.
Entrepreneurs tend to be fearless individuals with a knack for finding success one way or another. It’s not always an easy road when you open your own business, but the rewards can make it worth every hour spent building your business. Start by gaining an education in the field you plan to open your business in and then, gain some experience. This will serve you well moving forward and when education and experience are met with entrepreneurial determination, it’s an unstoppable combination.
Article contributed by Jenna Smith