There is a myth that entrepreneurial success is all about innovative thinking and breakthrough ideas. Here's what success truly means.
I've been an entrepreneur most of my adult life. Recently, on a long business flight, I began thinking about what it takes to become successful as an entrepreneur--and how I would even define the meaning of success. The two ideas became more intertwined in my thinking: success as an entrepreneur, entrepreneurial success. I've given a lot of talks over the years on the subject of entrepreneurship. The first thing I find I have to do is to dispel the persistent myth that entrepreneurial success is all about innovative thinking and breakthrough ideas. I've found that entrepreneurial success usually comes through great execution, simply by doing a superior job of doing the blocking and tackling.
But what else does it take to succeed as an entrepreneur, and how should an entrepreneur define success?
Here's what I came up with, a Top 10 List:
10. You must be passionate about what you are trying to achieve.
That means you’re willing to sacrifice a large part of your waking hours to the idea you’ve come up with. Passion will ignite the same intensity in others who join you as you build a team to succeed in this endeavor. And with passion, both your team and your customers are more likely to truly believe in what you are trying to do.
9. Great entrepreneurs focus intensely on an opportunity where others see nothing.
This focus and intensity help eliminate wasted effort and distractions. Most companies die from indigestion rather than starvation, i.e., companies suffer from doing too many things at the same time rather than doing too few things very well. Stay focused on the mission.
8. Success comes only from hard work.
We all know that there is no such thing as overnight success. Behind every overnight success lie years of hard work and sweat. People with luck will tell you there’s no easy way to achieve success--and that luck comes to those who work hard. Successful entrepreneurs always give 100% of their efforts to everything they do. If you know you are giving your best effort, you’ll never have any reason for regrets. Focus on things you can control; stay focused on your efforts, and let the results be what they will be.
7. The road to success is going to be long, so remember to enjoy the journey.
Everyone will teach you to focus on goals, but successful people focus on the journey and celebrate the milestones along the way. Is it worth spending a large part of your life trying to reach the destination if you didn’t enjoy the journey? Won’t the team you attract to join you on your mission also enjoy the journey more? Wouldn’t it be better for all of you to have the time of your life during the journey, even if the destination is never reached?
6. Trust your gut instinct more than any spreadsheet.
There are too many variables in the real world that you simply can’t put into a spreadsheet. Spreadsheets spit out results from your inexact assumptions and give you a false sense of security. In most cases, your heart and gut are still your best guide. The human brain works as a binary computer and can analyze only the exact information-based zeros and ones (or black and white). Our heart is more like a chemical computer that uses fuzzy logic to analyze information that can’t be easily defined in zeros and ones. We’ve all had experiences in business where our heart told us something was wrong while our brain was still trying to use logic to figure it all out. Sometimes a faint voice based on instinct resonates far more strongly than overpowering logic.
5. Be flexible but persistent--every entrepreneur has to be agile to perform.
You have to continuously learn and adapt as new information becomes available. At the same time, you have to remain persistent to the cause and mission of your enterprise. That’s where that faint voice becomes so important, especially when it is giving you early warning signals that things are going off track. Successful entrepreneurs find the balance between listening to that voice and staying persistent in driving for success--because sometimes success is waiting right across from the transitional bump that’s disguised as failure.
4. Rely on your team. It’s a simple fact: No individual can be good at everything.
Everyone needs people who have complementary sets of skills. Entrepreneurs are an optimistic bunch, and it’s very hard for them to believe that they are not good at certain things. It takes a lot of soul searching to find your own core skills and strengths. After that, find the smartest people you can who complement your strengths. It’s easy to get attracted to people who are like you; the trick is to find people who are not like you but who are good at what they do--and what you can’t do.
3. Execution, execution, execution.
Unless you are the smartest person on earth (and who is), it’s likely that many others have thought about doing the same thing you’re trying to do. Success doesn’t necessarily come from breakthrough innovation but from flawless execution. A great strategy alone won’t win a game or a battle; the win comes from basic blocking and tackling. All of us have seen entrepreneurs who waste too much time writing business plans and preparing PowerPoints. I believe that a business plan is too long if it’s more than one page. Besides, things never turn out exactly the way you envisioned them. No matter how much time you spend perfecting the plan, you still have to adapt according to the ground realities. You’re going to learn a lot more useful information from taking action rather than hypothesizing. Remember: Stay flexible, and adapt as new information becomes available.
2. I can’t imagine anyone ever achieving long-term success without having honesty and integrity.
These two qualities need to be at the core of everything we do. Everybody has a conscience, but too many people stop listening to it. There is always that faint voice that warns you when you are not being completely honest or even slightly off track from the path of integrity. Be sure to listen to that voice.
1. Success is a long journey and much more rewarding if you give back.
By the time you get to success, lots of people will have helped you along the way. You’ll learn, as I have, that you rarely get a chance to help the people who helped you, because in most cases, you don’t even know who they were. The only way to pay back the debts we owe is to help people we can help--and hope they will go on to help more people. When we are successful, we draw so much from the community and society that we live in that we should think in terms of how we can help others in return. Sometimes it’s just a matter of being kind to people. Other times, offering a sympathetic ear or a kind word is all that’s needed. It’s our responsibility to do “good” with the resources we have available.
Measuring Success
I hope you have internalized the secrets of becoming a successful entrepreneur. The next question you are likely to ask yourself is: How do we measure success? Success, of course, is very personal; there is no universal way of measuring success. What do successful people like Bill Gates and Mother Teresa have in common? On the surface, it’s hard to find anything they share-;and yet both are successful. I personally believe the real metric of success isn’t the size of your bank account. It’s the number of lives in which you might be able to make a positive difference. This is the measure of success we need to apply while we are on our journey to success.
You laugh at jokes. You laugh at guys getting kicked in the crotch. You laugh when you and your girlfriends get together to talk about how adorably clueless all men are. And yet science still can’t vouch for why exactly we do this. We start laughing around 3.5 or 4 months old and scientists believe it’s a way to build relationships rather than a response specifically to something funny. Researchers are still trying to figure out what triggers laughter in the brain and why being tickled, which feels a bit like torture sometimes, makes us laugh so much.
Can you imagine the first kiss in history? It makes you wonder if those people just thought, “What would happen if we mashed our mouths together?” or if it’s always been a part of human nature. We may never know, though scientists are certainly looking into it. These special kiss researchers are called philematologists and they’ve come up with theories on the origins of kissing and looked at the biological effects. Some say kissing is a learned behavior, evidenced by the fact that 10% of humans don’t kiss at all. Other scientists say that kissing is an instinct and point to the fact that some animals do it. Whichever way it is, we’re just thankful that locking lips is an accepted way of showing affection.
This may not be a strictly human behavior, but it’s puzzling nonetheless. Why is it that we open our airways to take big gaping breaths? And why do we start yawning when we see someone else doing it, or even when we just think about it? (Are you yawning yet?) The answers are unclear; different theories attribute it to a number of causes. Some believe it’s simply an involuntary act that happens when your lungs need more air. Some say the contagious yawnis actually a way of empathizing with the original yawner. Still others say it’s all just a way to cool off our brains.
You know the feeling. You just tripped on the street, were talking about someone when they were right behind you, or got called on in a class you were not at all prepared for, and suddenly you can feel your whole face begin to burn. Blushing is a common response to embarrassment, but scientists aren’t sure why it happens. The how is explained by increased adrenaline allowing the blood vessels in your face to expand, allowing more blood, and thus redness, into your cheeks. Making blushing even more mysterious is that blushing from alcohol or sexual arousal has nothing to do with adrenaline, according to scientists.
Dreaming is one of our most fascinating behaviors, partially because it’s impossible to share with others. Sure, you can try to explain that strange nightmare you had, but you find yourself without a lot of explanations: “We were in our house, but it wasn’t really our house. Somehow you were there, but then you were someone else. Wait, why was it scary again?” Dreams themselves are hard for us to hold onto, and the explanation for why they occur is equally challenging to grasp. Scientists have been theorizing on the purpose of dreams for centuries, but we’re still as far away from an answer as ever. Some guesses are that we’re practicing our response to a frightening situation, that our brains are sorting through the knowledge we’ve gained during the day and purging themselves of the unnecessary bits, or that we are working through our emotions. Conclusive evidence for any of these theories seems totally out of reach.
Hiccups, the annoying, squeaky jolts you sometimes get, are a reflex of some kind, but exactly what they’re reacting to is a mystery. A hiccup occurs when your diaphragm contracts and you inhale suddenly; the sound is produced by your vocal cords closing quickly. People can get hiccups from emotional distress, swallowing too much air, drinking a lot of alcohol (classic), or even just consuming a hot beverage. All these causes make it hard for doctors to pinpoint exactly what’s going on in the body. Common ideas are that something irritates your diaphragm, causing it to spasm, or there’s a disruption in your nerve pathways.
Since we’ve been crying since birth, we rarely think about why we do it. But we’re the only species that we know of with water gushing out of our eyes when we experience emotions. Scientists think it may have done something positive for the advancement of our species, perhaps acting as a signal that enemies wouldn’t pick up, and that’s why we’ve continued to do it over the years. We now cry when we’re feeling all kinds of emotions, ranging from sadness to joy, frustration to pain, even though we’re not trying to hide our weaknesses from predators. Crying is also a way to provoke empathy from others, which may have built strong communities among our ancestors.
While blinking has the obvious benefit of moistening our eyes, we do it more than is necessary to perform this function. Researchers think the reason is probably psychological because we blink more as adults than we did when we were babies — 10 to 15 times a minute compared to just once a minute for infants. We still don’t know exactly why this is, but they’ve found that we blink less frequently when we’re really engaged in or concentrated on what we’re doing.
We hope you will never experience this sensation, but it’s one of the most mysterious phenomena that happens to humans. Amputees often say they feel like their amputated limb is still there. Some can just feel it, while others can feel actual pain in their phantom limb. Doctors aren’t sure why this happens but they have plenty of complicated explanations they think could account for it, such as severed nerve endings and the reorganization of the somatosensory cortex. We may never understand where these phantom limbs come from, but many are treated with antidepressants, electrical spinal cord stimulation, or even using a mirror box to visualize the phantom limb and practice relaxing it.
.PNG)
