View As Article Successful Young Entrepreneurs While those who fall under Generation X struggle to move up the corporate ladder because Baby Boomers aren't retiring as early as planned, those who fall under Generation Y have been making their own income in innovative ways. For many of them, that means entrepreneurship. This slideshow will present some of America's youngest entrepreneurs, and we hope it will inspire you and help you realize that it's neither never too late or never too early to pursue your dreams of being a business owner.
This is partly because "good" means different things to different people. For example, from a consumer's perspective, a "good" business provides excellent products and services. From a business owner's perspective, a good business is able to support itself.
However, most successful businesses have a number of common characteristics. Plan and Focus Good businesses need good plans. While Ron Finklestein argues in his "Entrepreneur" article that complex business plans are not required to make a business successful, he also says business plans should be "well thought out and well executed," including financial, marketing and product information.
Business author Jim Champy also notes that companies should focus these plans on what they do well, even when they expand.
Ambition and Risk-Taking To be successful, a company must be motivated by something beyond financial success. In addition, successful businesses have owners who are passionate enough about the business to take risks when they realize that these risks can lead to being able to do business better.
Business owners must be flexible and ready to jump on board with technology and culture as it changes. However, they must also avoid taking risks without sufficient planning. Commitment to Employees and Customers According to Finklestein, company culture is an important characteristic of a successful business.
By company culture, Finklestein means a business' working environment, and he suggests successful businesses have an environment composed of workers who are suited to the jobs they do and policies designed to motivate them to continue working well. However, Champy also notes that successful businesses also have to take care of their customers, not only offering excellent customer service but also understanding their customers so well that they can anticipate and fulfill customers' needs.
Attitude and Ethics To make their businesses successful, business owners need good attitudes. Without good attitudes, it is difficult to motivate people and far easier to anger them. According to Finklestein, a successful business often depends on the people you work with, and having a good attitude plays an important role in ensuring you are able to work well with others.
In addition to staying positive, successful business owners also need to stay ethical. While it is easy to make unethical short-term decisions, they can hurt the integrity of the company in the long run, making it less successful.
Training and Assessment To be successful, businesses need to commit resources and time to training their employees, as well any independent contractors with whom they work. According to Finklestein, the changing nature of business requires training that is not only continual but strongly rooted in the organization's business plan.
Entrepreneurs are a different breed - they think different, act different, and live different than the rest of society. However, the successful ones all seem to share a few of the same traits with. Stories of Successful Entrepreneurs: A Guide Full of Productive Tips - Kindle edition by Eduardo Torres. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Stories of Successful Entrepreneurs: A Guide Full of Productive Tips. 9 traits of successful entrepreneurs you should develop You might never join the ranks of the multi-zillionaires, but these characteristics of an entrepreneur can take you far in the workplace.
For this to occur, companies must also implement frequent assessments of their trainings and operations. If an assessment uncovers a weak area, businesses need to address it through revising their methods.
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To achieve unimaginable business success and financial wealth—to reach the upper echelons of entrepreneurs. Let’s begin with a question: Are successful entrepreneurs born or developed? Entrepreneurs are some of the most multi-talented and diverse people out there.
The first thing that any entrepreneur will tell you, is that success doesn't come from staring at a computer screen reading articles like these. It starts with an idea. Entrepreneurship can mean. Plan and Focus. Good businesses need good plans. While Ron Finklestein argues in his "Entrepreneur" article that complex business plans are not required to make a business successful.
Entrepreneurs are a diverse bunch. The best ones, however, share a collection of characteristics -- from tenacity to the ability to tolerate risk -- that are crucial to any successful venture.
May 31, · Wondering if you have what it takes to succeed as an entrepreneur? New research from Gallup offers a window into what separates those who launch and grow successful companies from less successful.