Today we had our Be entrepreneurial workshop by FedEx!!
Here is some of what we learned today:
The most successful entrepreneurs view themselves as an asset to their business, and continually work to build their brand. And, while every business owner runs their business in their own, unique way, those that find true success share some similar qualities.
When asked what successful entrepreneurs do differently, experts said that they:
1. Work to build success. “Becoming a successful entrepreneur does not happen automatically,” says Tameka Montgomery, associate administrator for the Small Business Administration’s (SBA) Office of Entrepreneurial Development. “It is a learning process. While some may have certain natural skills or talents that lend themselves toward entrepreneurial success, those skills and talents need to be cultivated.”
2. Don’t give up. “You are confident enough in your business to expect ― and even welcome ― failure, knowing that you have to fail to succeed,” says Beth Buelow, a Tacoma, Washington–based coach, speaker and author of The Introvert Entrepreneur. “And you’re able to bounce back after those failures. Resilience is also about being strong enough to change course when a different approach is called for.”
3. Embrace technology. Entrepreneurs are by nature curious, and that inquisitiveness should extend to the technology that helps you do your work and grow your business. Video interviewing, for example, can ease the hiring process, writes Lauren Levine of Spark Hire. She explains that such tools give entrepreneurs access to a wider range of talent without having to bring them in for an in-person meeting.
4. Stay involved in the business. “We all get out there and help grind springs alongside the workers,” says Mike Suth, president of Hoosier Spring Co. in South Bend, Indiana, winner of the SBA Small Business Person of the Year award in 2014. “You can’t hide behind a computer all day.”
5. Network — constantly. “You don’t have to be a raging extrovert, but you do need to be willing and able to reach out to people and form strong networks in support of your business,” Buelow says. “Being a good listener, knowing how to bring out the best in others, and generally being a trustworthy, open person are key to connecting with others.”
6. Make employees feel valued. “We have a profit-sharing plan, and all our people get up to two weeks paid vacation around the holidays,” Suth says. “It’s important to treat people the way you’d want to be treated.”
7. Manage cash flow well. “An entrepreneur once said to me, ‘Most entrepreneurs don’t have enough cash to survive the learning curve,’” Montgomery says. “Cash is king, and effectively managing and watching it closely is so important.”
This is by no means an exhaustive list of everything an entrepreneur needs to do to find success, but rather some insights from experts into the qualities many successful small-business owners share. Still, it’s a good place to start.
From the FedEx website: https://smallbusiness.fedex.com/successful-entrepreneurs.html
Check out the fun we had being entrepreneurs today!
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