Everyone like to own a business. Entrepreneurship is seen as the best way to secure a great and fulfilling career. Remember those days in college when you wanted to invent something new or become like Mark Zuckerberg or Steve Jobs. It’s seen as being a job with freedom, flexibility, control, and enormous money-making potential. According to a study, there are more than 10,000 new companies are founded every year in India. Never heard you these companies. Well, the main reason behind that more than 90% of these startups fail. This ratio is horrifying.
So, why these startups fail. Well, there could be various of reason like the idea was not good or market was not appropriate or they were unable to find a proper investor. But, of all the reason one of the common reason behind all is the poor leadership. The company is as good as its leader. So, if you are planning to start your company then you should improve yourself first. Let’s see some of the important qualities that can help you become a successful entrepreneur.
The first rule of starting your company is believing that your product is better than others. You should care for the product. Understand that even if a lot of people think a certain company it may not personally line up with your unique interests and values. It’s a lot easier to come to work every day when you believe in what a company is doing. But, if that is not the case then work will become a burden for you. It’s more enjoyable to do your job when you feel that, even in small ways, you’re working at something that makes people’s lives a little better.
Do you enjoy your day to day work? Or just do the work because it needs to be done. The two things are quite different in their approach. Many would-be entrepreneurs think the day-to-day work of being a founder is far more glamorous. But, it’s not the case. Being a founder of a company means that you will an extra responsibility. You will have to attend lots of meeting, people would look up to you for inspiration. So, you should try to seek out roles that are a little more defined and that actually line up with where your skills and interests intersect.
When you are establishing your new company, then you should remember one fact that being the founder of the company would not mean that you will get rich in one month. It’s a strange fact that it can take year’s before you’re making more money than you would as an employee somewhere. So, try to focus on how to improve the company rather than just thinking of earning for you.
Everyone in this world wants to be loved, be it your family or co-workers. If you respect your co-workers and care for them, then they would certainly be ready to work for them. In most of the case, it has been observed that the company in which the manager and worker relation is good, tends to grow much faster.
Read also – Starting your own business in less than $1000
Remember one thing that it is not necessary that you have to become an entrepreneur to become rich. You can also join some new company that lines up to your interest.