The word entrepreneurship gained enough importance after the late 20th century, the laptop in front of, the smartphone in your pocket and perhaps the spectacles which you are wearing now are none but the result of entrepreneurship.
Business profits and economy booms when entrepreneurs in any society increases in numbers. The list of Forbes and Fortune 500 were once also named as start-ups. Guys, now after viewing such examples, you might be thinking about business and entrepreneurship, what is the main difference? Alright, there is a very thin line that fabricates both concepts from each other. Entrepreneurship does not essentially requires financial assistance, rather it’s basically founded on the basis of one idea that then sells on the basis of its unique selling proposition. Although idea uniqueness is important but there are some other features too that shape any entrepreneur venture. Some of these are discussed below;

Rule#1 Value your Time

Idea comes very often, but success is when you fully execute it quickly. Execution is although time consuming but here, strategic planning plays an important role in the success of your venture. Todays top CEO’s like Richard Branson, a great motivational speaker mentions his success of running Virgin successfully to Time management, he often says “Time is latent meaning of Dollars”.

Rule#2 Fail Once, Twice and Often

Well, you might be surprised as why I am encouraging you to fail big times? Right, folks what if I say failure doesn’t matter, fear from failure is what we call the root cause for any absolute Failure. Every idea sounds absurd initially, but you are the one who can make sour grapes into juicy Mangoes. Microsoft, Dell, HP, 3M and Virgin, all were once an idea, people like you with greater self-confidence and self-control make their dream into such luscious reality.

Rule#3 Invest in “You”

Remember, a great CEO must be a successful leader too. One cannot go without each, both concepts go side by side. Therefore, if you are aiming to start any venture, you must first explore “You”. Skills like leadership, critical thinking and problem management are the first and most important skill set an entrepreneur must pursue his venture with. Taking coaching’s, guidance and online tutoring helps you polishing your strengths better which can further then be translated into better revenues and satisfied customers.

Rule#4 Outsource weaknesses

In smarter world, outsourcing is one way to get things done in minimum time and with maximum efficiency. So, if you are lacking any skills and your customer is a keen needy one, Outsource your skills.

Rule#5 Don’t Afraid to ask for help

It’s normal if you stuck somewhere, Internet is one blessing that has made our life easier. Take help from business gurus, join specific business forums and get free help from professionals.

Rule#6 Speak Up to the World

The world don’t know specifically what are you doing. In order to get recognized, you have to speak up and show your skills to the audience. Making online presence is one easy tip to come into limelight. A website is what your identity in the online world, so always make one and promote it through social media.

Rule#7 Take Financial Assistance in the end

As mentioned earlier, don’t worry about money because entrepreneurship is all about efficiency, taking minimum resources into account to get maximum output. The 7thrule of entrepreneurship is, seek financial assistance in last and focus on more channels which are less expensive and can generate greater revenues.

Rule#8 Market only your strengths

Its relatively smart point for an entrepreneur to be proud of his strengths only. In the world of tough competition, focus more on niches because it doesn’t matter how much services can you provide, but in how many you excel is the real game of marketing.

Rule#9 treat your competitors as your role models.

This point is the most important one. Since, it’s the last rule, the crux of entrepreneurship lies in believing yourself as well as in your competitors too. Wake up every day with a new dream and a specific goal, keep a keen eye over the activities of your competitors too and try to apply those positive points in your life too.
Source: 9 Killer Rules of entrepreneurship

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