7 HUGE lessons TO BECOME A SUCCESSFUL ENTREPRENEUR

1.    Process – The importance of process cannot be overstated relative to the security of having a system. As Scott Adams, author of the comic strip Dilbert wrote, “Losers have goals and winners have systems.”

2.    Experience vs. Failure – Experience is the act of doing something and failure is a judgment about that experience. “Don’t overthink it, do it.” Learn to trust your instincts. There are only two outcomes: results or excuses.

3.    Risk Evaluation – In making choices, ask yourself, “What is the worst thing that can happen? Entrepreneurship is about risk management.

4.    Boundaries – Employees, vendors, and clients are not your friends. Always follow the money. Quite often when someone recommends a person, they are trying to help that person more than you.

5.    Positioning – Who are you going to serve in the market and what will be your value proposition? Are you going to be a Cadillac or a Chevrolet?

6.    Yin and Yang – Your greatest strength is always your greatest weakness. For example, if you are charming and articulate, you may not spend the time on preparation required for an important meeting because you think you can “fly by the seat of your pants.”

7.    Learn How to Sell – Nothing happens until a sale is made. Learn the difference between open-end questions to gather information and closed-end questions to get affirmation. When asking a closing question, whoever talks first loses!

Bonus: Keep a daily journal and make entries relative to work, how you’re “feeling,” your wins, losses, etc. Talk to yourself. Be honest. Write down the date and time of day with every entry. This will reveal interesting patterns such as when you’re most creative, positive, or negative.