Entrepreneurs are mainly the people who organize a particular business and promote it within the society in an effective way. They are the ones who take a lot of financial risks in order to be an entrepreneur and fulfill their tasks effectively. Bold entrepreneurs are the ones who can create and come up with bold market strategies. The most common and well-known example is Steve Jobs, who transformed the way we looked at an apple. It is no longer a fruit and has a whole new different meaning attached to it. Another example is the concept of Uber that transformed the way we look at the concept of transportation.
Bold entrepreneurs are not only the ones who are the pioneers of a new and unique idea but they are ones who make it a point to stand out amongst the group they represent. For example Steve jobs, no matter how many new cell phone companies are launched, no one will ever forget Steve Jobs and his efforts in the shape of Apple products. However, since the people who managed to become a bold entrepreneur are aware of what it take to become one, they follow few steps that actually show that they are bold.
Here is a list of these actions that individuals can find in most of the bold entrepreneurs present in the world today:
A bold entrepreneur must know the art of owning their flaws and strengths. If you are not able to own your flaws, this means that you are not fully aware of yourself.
2. Every flaw has strength beneath it and both the factors need to be identified. Your strength will encourage you to go ahead and experiment with whatever comes your way and your flaws will diminish the amounts of risks that you might take if you were unaware of your flaws. For example, many entrepreneurs who are successful and filthy rich today are actually university dropouts and yet they managed to become successful. They are aware of their flaw of not getting the very basic qualification, however; they managed to overcome that flaw through their success.
3. Priorities should be clear so that you are aware of the course of action you will take in a given scenario. Every entrepreneur has a set of rules and priorities that they will follow in order to achieve their goal. Steve Jobs, Bill Gates all of these famous entrepreneurs had a sense of direction and therefore they were able to achieve so much in so little time.
4. Speak up but make sure that all your actions are in sync with your knowledge. The more they are in sync the more you can succeed in life, as it will give a boost to your confidence level.
5. Failure is what makes a man realize that where they went wrong. Failure in life is as important as success. If you get instant success, you might not know the actual worth of it since it was achieved in one go. Hence, bold entrepreneurs and people who are planning to enter this field should be prepared to experience failure in any form. For example, Sandi MacPherson who is the editor in chief at Quibb stated that she built a product without even understanding the needs of her target market. Noah kagan who is a chief sumo at App Sumo worked at Facebook, but he was fired mainly because he was trying to put himself on Facebook and this action cost him $100,000,000.
6. In order to become a bold entrepreneur just like rest of the bold entrepreneurs that exist in the world today, you need to follow a list of steps mentioned below:
7. Learn to take action, as an action is what will take you in the right direction. If you have a concept but don’t know how to act upon it then you certainly are not on the right path of becoming a bold entrepreneur.
8. You should be obsessed with cash flow as this is the main driving force of running your organization or business. Joe Gustafson of Brainshark shares his experience that when he started off with his journey as an entrepreneur, all he could think of was cash flow and liquidity as there were times when he didn’t have enough cash to continue with his business or to meet his daily expenses and needs.
9. People who wish to become an entrepreneur should be aware of the fact that upcoming entrepreneurs and the status quo just don’t jell in together as your creative ideas will always be interpreted as a form of an unwanted criticism by your bosses, which might discourage you from coming up with new ideas.
10. Learn to create a balance between ideas, implementation and criticism and this will make your life much easier.
11. Entrepreneurs have the art of looking at things from a different yet fearless perspective. They love to take the risk for example Steve Jobs was creating something unique and was naming his product an “Apple”. His ideas could have gone wrong, as, after all, it was just a cellphone he was trying to introduce. But creativity and the concept of fearlessness played its roles.
12. Entrepreneurs should not sit still. If their business is not operating, they should take up other tasks just for the sake of experience.
13. New jobs and new tasks enable you to learn more. Out of your new learning experience, you can surely come up with a new and a unique idea. For example, Mark Zuckerberg started off with Facebook at Harvard University and initially, it was available to the Harvard students only, but since the idea was so unique it gradually started expanding to other colleges as well. The basic idea behind Facebook was the concept of hot or not, which means that the students of Harvard University were compared in terms of who is hot and who is not. However, gradually the idea transformed into something as coherent and unique as Facebook.
14. You should learn to take up as many challenges as you can. Challenges should motivate you to strive even harder towards success. Jeff Platt who is the CEO of Sky Zone Indoor Trampoline Park shares his experience that he looked at adversity in the eye and made it a point to keep moving no matter what comes in his way.
15. You need advisors and therefore hire as many as you can. Advisors can make you notice aspects that you might not even know that they actually exist. Jessica Alba who is a famous actress is also a co-founder and president of Santa Monica, based the Honest Company. According to her, “Success takes Communication”. Communicate, as it will allow you to access ideas that are not yours. It will open up your mind frame and you might link new ideas with your ideas, as this will enable you to come up with a new and a much better idea.