The difference between success and failure in most human endeavors can be mental, the attitude of the individual. Of course, knowledge, skill, and talent (and to some extent) resources are important success components.A shortfall or lack of some of these components can be overcome by one’s attitude or mental makeup, which is totally controlled by the individual. This holds true in sports, business, the arts, politics, etc.
How many times have we seen the underdog player win over the more talented opponent? The difference is attitude.
Here are some attitude attributes to keep in mind in pursuing entrepreneurial success.
1. Have a passion for your business.
Work should be fun. Your passion will help you overcome difficult moments and persuade people to work for you and want to do business with you. Passion can’t be taught.
2. Set the example from day one that you and your company are trustworthy.
People have confidence in trustworthy individuals and want to work for them in a culture of integrity. Ditto for customers.
3. Be flexible except with core values.
It is a given that your plans and strategies must change as time goes on. This flexibility for rapid change is an in herent advantage of small over large business. However, no matter the pressure for immediate sales, do not compromise on core values.
4. Never let up on quality.
Quality is essential for repeat sales.
5. Don’t let fear of failure hold you back.
Failure is an opportunity to learn.
6. Make timely decisions.
It’s okay to use your intuition. Planning and
thought are good, but procrastination will make you miss opportunities.
7. The major company asset is you.
Take care of yourself. Maintain your energy level. Your health is more valuable than the most expensive machinery or computer software for the company.
8. Keep your ego under control.
Don’t take newfound profits and spend them on expensive toys to impress others. Build a war chest for unexpected needs or opportunities.
9. New product ideas need not be blockbusters.
This also holds for starting a new company. It’s hard to reinvent the wheel. It’s a little like Scrabble. Add one letter to an existing word and get full credit for the entire word. Build on an existing product or service but do it better, add value, sell to a new market, build a license around it, etc.
10. Maintain balance.
It doesn’t have to be your family or your company. Play or work, etc.
This will enhance your mental outlook, which is what we’re talking about.
11. Encourage and accept criticism graciously. Admit your mistakes.
You need to constantly work on convincing your employees that it’s okay, even necessary, to state their honest opinions even it if conflicts with the boss. Just stating it once or putting it in a mission statement won’t cut it for most people.
12. Create an environment where innovation can flourish.
This means hearing out new ideas and suggestions no matter how crazy they sound.
13. Maintain a strong work ethic.
Your employees will follow your lead. It will also help you beat your competition by outworking them — particularly when your product or service is very similar.
14. Rebound quickly from setbacks.
There surely will be plenty of ups and downs as you build the business. Learn from the setbacks and move on. You can’t change the past.
15. Periodically get out of your comfort zone to pursue something important.
Many times you will feel uncomfortable in implementing a needed change in technology, people, mission, competing, etc. For the company and you to grow personally, you sometimes have to step out of your comfort zone.
16- Believe in Yourself.
Self-confidence increases odds for success and can be contagious to your employees.
A quality that many admire and can turn a No to a Yes.
18 – Continuous Learning.
A life long endeavor that you need to carve out time for to help you with your business,family and life.
A critical skill that can be acquired by all. It is different than hearing and should improve all your relationships and aid decision making.
20. Know what you don’t know.
Yes, you are not perfect.
* This article is taken from the Bob Reiss book, Bootstrapping 101
Image credit: Mahmoud Abdelkader