10 Rules of Being a Successful Entrepreneur

Whether we’ve ever thought about opening up our own business, or we currently own a multi-billion conglomerate (and if that’s the case, please feel free to shoot me an email!) starting and running a business can be a pretty overwhelming task.

That being said, just because it’s tough doesn’t mean you’re bound to fail. In fact, here are ten things you can do as an entrepreneur that will help to ensure your long term success:

1. Be Passionate – In order for you to be successful and to put in the amount of time necessary, you need to be head over heels for what you’re doing. I mean, don’t be more in love with your business than you are with your friends and family, but if your business doesn’t get you excited, you probably shouldn’t be doing it.

2. Be Bold – If you blend in with everyone you’re going to have lots of trouble. Nobody is going to seek you out to do business with you. Don’t be afraid to stand out from the crowd. Take a stance. Be opinionated. Tell the world how great you and your business are!

3. Be Curious – Ask lots of questions. Why? Why not? How? WTF?!? This will help you run your business more efficiently, offer products and services your customers want right now, and help you stumble upon “the next big thing.”

4. Be a Problem Solver – Your customers gravitate away from pain (problems) and towards pleasure (solved problems). Pay attention to the word “can’t.” If you can provide a product or service that turns a “can’t” into a “can” you are setting yourself up for a very lucrative, long-term business experience.

5. Find Your Voice – Obviously, there are certainly ways of communicating that are more prudent than others, but at the same time, you have to stay true to yourself. Don’t stiffen up and get a case of the blahs. Speak and write like yourself, and you’ll be much more likely to engage your audience and turn them into paying customers.

6. Take a Controlled Risk – By nature, entrepreneurs are risk takers, so you’re probably already more inclined to take a risk than a “normal” person. That being said, when something comes along that you’re unsure of, take a controlled risk and go for it. Don’t plunder your business’ finances or your life savings, but don’t be afraid to stick your toe in the water either.

7. Subscribe to the “Yes, And…” Principal –It’s so easy to say no. Next time you catch yourself about to say no, say, “yes, and…” For example, let’s say you’re approached by a firm that wants to advertise with you, but isn’t necessarily in your target niche. You’d usually say no right off the bat, but this time you say, “yes, and let’s discuss how we can make this more mutually beneficial business partnership instead of a paid advertising transaction.” Maybe nothing will come of it, but something might.

8. Learn to Delegate – Accounting, legal stuff, marketing, operations… the list goes on and on. You can’t be responsible for everything. There’s only so much time in a day, so focus on the most important tasks and delegate the other stuff to other people you trust. No need to burn the candle at both ends, especially if you’re surrounded by good people as it is.

9. Don’t Be Afraid to Ask For What You Want – In most cases, what you want is a sale. When dealing with your customer – whether it’s someone you’re trying to sell your product or service to, or another business you’re trying to broker a deal with – make sure you’re perfectly clear about what you want. The easiest way to do this is to very simply and politely ask for exactly what you want.

10. Provide Out-of-This-World Customer Support – Word of mouth travels fast, so if you make one customer angry, soon enough, a bunch of current or potential customers will know to never do business with you. Focus on complete customer satisfaction. Set the bar high and then over achieve, because once you get a customer in the first time, they’ll be inclined to come back to you. And since it’s easier and cheaper to keep a current customer than it is to get a new one, good customer support is nothing but a good business practice.

I know some of these things are easier said than done, especially if our DNA tells us to do the opposite. For example, I’m a quiet, non-risk taker, so I still struggle with rules two and six.

Some entrepreneurs obtain an MBA online, however in reality its not entirely necessary at all. Instead, I think if you start to incorporate some of these ten rules of being a successful entrepreneur into your business and life, you’ll be surprised at how quickly your business will begin to flourish.