The 7 Secrets to Entrepreneurial Success

Most entrepreneurs spent years working long hours to reach the success they have today.
Wonder how you can do that too? Study their best practices, mistakes and key character traits to
emulate the dramatically shorten your own path to success. Usually, it takes years of trial and error to
figure out their secrets. But the only real secret is that it’s action, not knowledge that fosters true
accomplishment. Here are the seven secrets that are vital to any entrepreneur’s success:
1. HIRE TO SUCCEED DESPITE YOUR LIMITATIONS.
Everyone have limitations. Maybe one may have trouble focusing on one thing at a time, say
yes to too many things, have a health condition or don’t know much about technology. Maybe there
are great at ideas but bad at implementation. It doesn’t matter. One can still succeed by bringing the
right people onto the team.
2. RAISE MORE MONEY THAN YOU THINK YOU NEED.
Venture capitalist raise twice the money they think they need, and plan on taking twice as
long as they expect. There are tremendous temptation to ask for less so that you aren’t disappointed if
your bigger ask falls short, but curb the impulse for the good of your company.
3. RESEARCH THE MARKET EXTENSIVELY.
The number-one reason that startups fail is a poor fit in their markets. Identify the value you
can provide for your customers and how to reach them.
4. USE THE RIGHT TOOLS TO AQUIRE CUSTOMERS.
Successful entrepreneurs know which tools work despite the hundreds available and
conflicting reviews circulating online.
5. PREPARE FOR CHANGE.
It’s no surprise that stuff happens and will challenge your business. Business can be
unpredictable and throw a serious wrench into your plan. Whatever the case may be get ready to pivot
and implement change quickly regardless of the challenges you’re facing.
6. FOCUS ON THE 20 PERCENT.
Whatever we’re talking about life or business, 80 percent of all result are achieved from 20
percent of your efforts. As a result, successful business owners focus on 20 percent that matters the
most, and many out-source the remainder.
7. PROVIDE CUSTOMERS WITH AMAZING SERVICE.
Many companies fail to reach their potential because they’re so focused on the sale that they
forget to provide a phenomenal customers service experience. Customer service isn’t just about
handling complains. It also involves loyalty programs, incentive for referral and other customer-
focused activities.
No matter who you are or what you’re trying to do as an entrepreneur, you can find
success by emulating techniques entrepreneurs before you have used and personalizing them for
your own business. Keep iterating your process until you come across the winning combination.
Are you ready to take action? Which of these success secrets will you act on today?

2018 Technolympics: Basic Encoding