Entrepreneurship. How to become a successful entrepreneur?

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I'll be up at dawn in the morning.

The head is clogged with worries.

The banker called, scared by closing the account

about 115 told up.

My contractor again messed up something.

Customers cut off the phone.

And where is Dubai, where is Lamba and Martini.

This is not how they broadcast on Instagram.

But clenching his teeth, he smiled.

Gathered all the power on the jump.

Let the routine, fuss, care.

I can do everything, I know why this is all for me.

We live in the age of entrepreneurs! These people, and I am proud to count myself among them, are the driving force behind a revolution that transforms and revamps economies around the world, as well as creates new jobs. Entrepreneurial activity is at the heart of a developing and modern state, since the birth of new companies gives the market economy its viability. New and emerging companies create a large share of innovative products that change our lifestyles and working conditions. In this article, we will talk about business development, how to start a small business in Russia, what difficulties and problems we will face.

Remember even how it was necessary to go out on the road and catch a taxi or call and order from the dispatcher, but with the advent of Yandex taxi in Russia, this process has changed dramatically, and frankly, it has made life much easier for ordinary users. And what are marketplaces doing now and how much the courier service has developed over the years of the pandemic. And we are only talking about the V2S market, huge steps into our lives are breaking V2V marketplaces, which is just worth our ORG-Market and similar products in the commodity markets. And if you look at recent history, such products include personal computers, software, the Internet, biotechnology-based drugs, express mail delivery, this list can be continued for a long time.


Who is an entrepreneur, our hero?

Конечно определений может быть очень много и все они действительно будут описывать предпринимателя. Я конечно же выберу, то которое ближе мне и которое максимально коротко и в полном объёме может его описать. Предприниматель- это человек, начинающий новый бизнес; человек, распознающий возможность и создающий организационную структуру для реализации этой возможности. Как я люблю говорить и не раз вы ещё это встретите, идея сама по себе ничего не стоит, идей можно за вечер нагенерить огромное количество, а самая ценность в возможности организовать и реализовать проект- это под силу очень не многим.

One of the most common questions: Where do future entrepreneurs get their ideas? Most often this happens in their current work or based on the experience gained. It is estimated that 90% of all new companies with high potential open in the same industries that have experience in work, or in related industries and markets. This is not surprising, since it is at your current place of work that you can get the most viable ideas or find niches in which gaps have formed or there are pains, and you have a solution to these pains. It also happened to me. I had quite a lot of experience in entrepreneurship and when I decided to take up a new direction, I first got a job in the company as a sales manager, figured out the market, saw opportunities for myself and only after that I opened a company and began to develop my business in this direction.

There are also serial entrepreneurs who constantly open more and more new companies in related or completely new industries for themselves. But we will talk about the difference in types of entrepreneurship another time, you can write a separate whole article about this. What factors influence the decision to engage in entrepreneurial activity? As with any other patterns of human behavior, entrepreneurial traits are formed under the influence of personal qualities and external factors.



«

The Interview:

- What are your strengths?

- Perseverance!

- Thank you, we will contact you.

–I'll wait here.

Based on research, we can safely say that there is no clearly defined set of behavioral characteristics that would allow us to distinguish between entrepreneurs and non-entrepreneurs. Anyone who reaches the heights in any profession, whether he is an entrepreneur or a manager, is already a successful person. Despite the fact that any future entrepreneur must have a need for achievement, it must be present for any other person striving for success. If in your circle of communication there is a person who is engaged in business or conducts his business, then he most likely stands out from the rest with his energy, such people are kind of achievers and they always want something more.

Entrepreneurs are more persistent in achieving their goals than not entrepreneurs, which means that they have a stronger desire to control their own destiny. According to a study conducted in the UK as part of a wide representative sample of small business owners, it turned out that more than 50% of respondents cited independence as the main motive for starting their own business. Only 18% of respondents said that the main reason was making money, and 10% named other reasons, including such as pleasure, challenge, more opportunities for creativity, personal satisfaction. And in another recent study, 80% of Russian entrepreneurs surveyed (121 respondents participated in the survey) said that they started their business to become their own owner, and that their own business enhances the feeling of independence and freedom.

The 10 most important features of successful entrepreneurs:

  1. Dream. Entrepreneurs have an idea of ​ ​ their future and the future of their companies. And more importantly, they are able to make their dreams come true. If you once communicated with me on the topic of entrepreneurship or asked a question, you could hear that I believe that entrepreneurs are primarily big dreamers. After all, it is so important to first build and come up with everything in your head, and then throw a plan and go to translate everything into reality.
  2. Decisiveness. They do not put things on the back burner (procrastination is not about this type of people). They make decisions quickly. Their quickness is a key success factor. Do not forget that in the modern world not a big fish is small, but a lot of small and fast ones eat large.
  3. Activities. Having developed an action plan, they begin to implement it as quickly as possible. For example, I have the case that I do not sleep for several days when I light up with some new idea. And it happens that I can jump up at night and start working. I think this is familiar to many).
  4. Commitment. They are determined and purposeful in the implementation of all their endeavors. They rarely give up, even when faced with obstacles that at first glance seem insurmountable. I see the goal do not see obstacles!
  5. Devotion. They are absolutely dedicated, sometimes to the detriment of their relationships with friends and family members. I don't know fatigue in work. A twelve-hour working day 7 days a week is not uncommon among novice entrepreneurs trying to raise their business from scratch.
  6. Passion. Entrepreneurs love their business and sincerely believe in it. It is this belief that keeps them going through difficult moments. And it is thanks to the love of their product or service that they become such effective sellers.
  7. Details. There is a saying that the devil is in the details. This is especially true when founding and developing your own business. The entrepreneur must keep in mind all the most important details.
  8. Fate. They themselves want to be the masters of their fate, and not depend on the employer.
  9. Money. Becoming rich is not a primary motivation for the bulk of entrepreneurs. Money is more a criterion for success or, as often happens, just a tool to achieve a goal. They believe that if they succeed, they will be rewarded.
  10. Distribution. It is often found, especially in Western companies, that entrepreneurs distribute ownership and responsibility within their company to key employees who play a vital role in the success of the whole affair.

How to start a business

Often future entrepreneurs see role models at home and at work. Indeed, if one of your close relatives is engaged in entrepreneurship, then the likelihood that you also want to become an entrepreneur increases significantly, especially if this relative is your father or mother. But to become an entrepreneur, it is not necessary to be brought up in the family of owners of their own business. For example, I had no businessmen or entrepreneurs in my family, but since 17 I have been in business.

With age, you gain experience, but it happens that after working in an industry for a long time, you find so many pitfalls that you doubt the chances of success of your own business. A person who simply has enough experience to feel confident in the role of manager is likely to be more optimistic about an entrepreneur's career. Perhaps the most ideal combination is the thinking of a beginner and the experience of an industry veteran.

The settings of the beginner will allow you to look at the situation from a new angle, with the mood for victory: "I will succeed." I have met partnerships several times where a young and ambitious person works together with an experienced or even a person with a degree. I did not initially understand such partnerships, but when these people achieved phenomenal results and I ask them what was the secret, everything became clear at once.

Before leaving a stable, well-paid job, future entrepreneurs must carefully calculate how much trading revenue their new business should bring before they can generate the same income they have to date. In addition, when a person starts his own business, he has to work much longer and bear a much more serious responsibility.

The right way to test a marriage on a fortress is to start a business your business, which is the only source of income for the family. When an entrepreneur is already actually starting his business, he needs many different contacts, including clients, suppliers, investors, bankers, accountants and lawyers. Therefore, before venturing into a new endeavor, think about who you can turn to for help if necessary. Friends and business partners can be invaluable in building the right network
contacts.

The happiest day in the entrepreneur's life is the day his firm opens. If we talk about unsuccessful entrepreneurs, the day when they manage to sell their business becomes even happier for them - especially if they manage to regain most of the invested capital. George Bernard Shaw's words about love adventures also apply to business: any fool can start a business, but only a genius is able to successfully complete everything.

Business development

There are three important conditions for the success of a new business: opportunity, the entrepreneur himself (and the management team, if we are talking about a company with great potential) and the resources necessary to open a company and ensure business development. The most important driving force of any new enterprise is an entrepreneur acting as the chief executive or management team. For frequent this always remains in private companies, as they say, the owner is always needed.

The most important components of entrepreneurial success are an outstanding entrepreneur with a first-class management team and an excellent market opportunity. As I have not rarely heard from experienced investors: the idea may not be very good, you can always replay and do something differently, all success lies in the team. When I myself work with young entrepreneurs, then the main questions about the team. One person is not a team, anything can always happen, but the team at that moment must support and stretch the situation. I often hear that success in entrepreneurial activity is primarily a matter of chance and luck. That's not the case. One of the most useful thoughts that I took from my first higher education at ATiSO was that in the dean's office it was written in large letters "Lucky to whoever is lucky" This phrase remained with me to this day. We are not saying that becoming a leading football player.

To become a successful entrepreneur requires exactly as much luck and luck as to succeed in something else. In entrepreneurship, the whole question is the ability to recognize a good opportunity and the skills needed to turn that opportunity into a thriving business. And in order to do this, preparation is needed. Therefore, in entrepreneurship, as in any other profession, luck is a combination of preliminary preparation, perseverance, self-belief and opportunity.

Perhaps the most common misconception about the ideas behind a new business is that such ideas must be unique. Too many aspiring entrepreneurs literally go crazy looking for great ideas. And when they do get the feeling that they have finally come up with something unique, they begin to be haunted by the fear that someone wants to steal this idea from them. And then they become overly secretive. When novice founders or those who have just conceived their own business come to me and start whispering about their idea, looking around, it certainly looks nice, but everything becomes immediately clear. They come up with conditions that they are ready to discuss this idea only with those who sign a non-disclosure agreement. Because of this, there is practically no chance that someone will be able to evaluate their idea. For example, many consultants who provide free assistance to entrepreneurs refuse to sign non-disclosure agreements. And yet, when an entrepreneur does decide to share his top-secret unique idea, then most often you experience great disappointment.

I tell start-up business sharks that almost every idea that comes to their mind has probably already been thought up by someone before them. As they say, "There will always be a Chinese who does it better than you." So the idea itself is not the most important thing. In entrepreneurial activity, ideas are not really that valuable. It is important to think over these ideas, implement them and create a successful company. Alexander Fleming accidentally invented penicillin but never turned it into a useful drug. About ten years later, Ernst Cheyne and Howard Florey unearthed Fleming's invention. They immediately saw its potential. Since this happened in England during the war, very soon they began to use this remedy in the treatment of patients. By the end of World War II, penicillin had saved countless lives. This was the most outstanding achievement in the pharmaceutical industry and played the role of a harbinger of the coming revolution in the industry. And if you remember McDonald's, it was founded by two brothers Richard and Maurice McDonald, but their business would have remained in a small town if not for Ray Kroc, who was able to see the potential of this enterprise and scale it to the whole world and now McDonald's is in the top 10 largest employers in the world, about 1.9 mln. people. In Russia, by the way, the Ministry of Defense is the largest employer with the same indicator of 1.9 million people.

For clients, I've compiled a list of questions that let me know how well they've developed their idea. The most revealing of these questions is: Can you give me the names of potential clients? If start-up entrepreneurs are not able to list their clients by name, they are not ready to start their own business. They just came up with an idea, but did not determine what market need this idea would satisfy. For me, this is just a hypothesis, which must first be confirmed and only then start your own business and indulge in all serious.

First of all, a novice entrepreneur must have experience in the same or a related industry. In second place after knowledge of the industry is management experience. Preferably, this experience includes responsibility for the budget, and preferably even for the financial results of the company. The best option is if a novice entrepreneur has experience in increasing turnover and profits. Of course, we are talking about the ideal entrepreneur. Few real people live up to the ideal. This does not mean that they should not open their own company. For example, before starting a new line of business, I study the market in terms of supply and demand, understand the product and its features, study the business model and try to compare it with the business models I already know, calculate the return on invested capital and turnover , as well as the way to finance this project, do I need to attract a bank and what banking products are best suited or is it possible to do it on my own.

Aspiring entrepreneurs conserve their limited resources. They try to keep overhead costs low, productivity high, and fixed assets kept to a minimum. Thanks to this, they can start their business with a minimum amount of start-up capital and ensure business development. I would even single out three main points that must be observed when starting a new business:
  1. Low overhead;
  2. High performance;
  3. The minimum amount of own fixed assets.
Happiness, in the understanding of the entrepreneur, is a positive balance of cash flows. In simple terms, the day when the company starts making money is the happiest day in the life of a successful entrepreneur.

The recipe for creating a successful company and business could look like this:

  1. Founder. Every newly created company should be headed by a first-class entrepreneur.
  2. Priority. Entrepreneurial companies prioritize market niches. They specialize in a particular area, rather than trying to grab onto everything at once.
  3. Speed. Decisions are made quickly and quickly implemented.
  4. Flexibility. They maintain an open mind and respond to change
  5. Constant innovation. They are tireless innovators and business process optimizers.
  6. Flat structure. The management structure in entrepreneurial firms has as few levels as possible.
  7. Thrift. Due to low overheads and high productivity, entrepreneurial firms keep their costs to a minimum. Probably one of the main points is not to bloat and not to make yourself look big when you are actually still small.
  8. Friendliness. Entrepreneurial firms are friendly to their customers, suppliers, and employees.
  9. Pleasure. Cooperation with an entrepreneurial firm brings not only benefits, but also pleasure.
Another common misconception is that entrepreneurs work for themselves. In fact, only the self-employed work for themselves. Entrepreneurs and businessmen have a large number of problems and people who depend on them. Own business is, first of all, a great responsibility for investors, clients, for reports to regulators and supervisory authorities, responsibility to employees.

Business problems:

1. Investors.

They require the entrepreneur, regardless of the situation, to increase profits and pay large dividends.
   
 

2. Clients.

Business success depends on how satisfied customers are, whether they are ready to make repeat orders, whether they recommend our company to their friends and acquaintances. It is very important for a business to have a base of loyal customers who can support you during a difficult period. To do this, it is also necessary to show a certain loyalty to customers and make concessions. The customer is always right! Let's not forget, friends.
   
 

3. Regulators.

I don't think comments are needed here:)
   
 

4. Staff.

They get sick, give birth, sneeze, and the employer pays for everything. Bonuses, indexation of salaries, gifts for the holidays and all sorts of goodies in the office, they also appear out of nowhere, the employer pays for everything. Covid and everything is remote, the May and New Year holidays, and no one has canceled salaries, rent and other expenses, the employer pays for everything.

   

In conclusion, I would like to say that the most important and most important quality of a businessman is perseverance and perseverance. Many will say “he has a talent for doing business” or “he is an excellent gymnast because he is talented”, but this is not true. I saw many people who were talented and showed great promise, but they were bypassed by purposeful hard workers who believed in themselves and in what they were doing. The world is full of talented losers who, because of their laziness, then say that I chose a family instead of a career. I usually say that you can tell these stories at home to your wife or then to your grandchildren. And the saying “genius is a loser” can often be heard among scientists. In our country, brilliant people, mathematicians, physicists solve problems on the bus and they are nominated for Nobel Prizes, but few people know what to do next with this. And how many lately so-called educated outcasts who received education wherever they could and continue to study further, but somehow they no longer get money from this.

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