An important issue agitating the minds of many entry-level businessmen is how to become a successful entrepreneur. People begin to work in the sphere of dreaming to become millionaires or simply to earn a lot of money. Some of them say that work for the welfare of mankind, but often the reasons for starting an entrepreneurial activity are the same.
Naveen Jain is an entrepreneur. He marks “There is a myth that entrepreneurial success is all about innovative thinking and breakthrough ideas”(Jain, 2012). Furthermore, he implies that “success, of course, is very personal; there is no universal way of measuring success” and notes that people have to be honest and take pleasure in what they are doing. He assumes that money is not the most important thing, what is more important is to help people, because someone helped you before, therefore entrepreneurs sometimes have to help another people “When we are successful, we draw so much from the community and society that we live in that we should think in terms of how we can help others in return”(Jain, 2012).
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What is also important is that entrepreneurs should rely on their working group, because the head stuff should admit that there can be people that know some subjects better than they are and they can complete the group staff perfectly.
There is one more significant advice from Jain “to learn a lot more useful information from taking action rather than hypothesizing. Remember: stay flexible, and adapt as new information becomes available”. So it is better to get new data than to spend a lot of time projecting PowerPoint plans or marketing models.
Another entrepreneur James Sun is the chief executive officer of Pirq. He is a kind of businessman who admits his own mistakes during the process of work. No one is perfect. In general, his rules add up to nine simple rules.
First of all, day trading requires a great power of self-restraint under a great stress. Also as the world changes entrepreneurs should adapt to these changes quickly so that still succeed on the world market.
It is also urgent that entrepreneurs “have to learn to sell to both investors and your first customers (Clay, 2012). Thus, here the system of discounts and privileges must take place.
Another important quality of the firms or start-ups is its uniqueness. There must be something that marks out the corporation among the other similar enterprises.
Money plays a significant role for Sun. He says that “money matters in getting your product to market, money matters in getting your product developed, and it matters in terms of your revenue model upfront(Clay, 2012). This view is a little opposed to the view of Naveen Jain.
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But what is common between both entrepreneurs admit that there are people who can be more educated than them in this or that matter and it’s critical to align equity structure in a fair way when “not everyone can be beautiful(Clay, 2012).
Sun also states that the professed businessman realizes that every branch of the industry requires the separate approach to it. Thus, it is a skill to combine the selling of one product pertaining to the other one.
One more important thing to know is to choose the working personal thoroughly but make the selection fast. As Sun says, “we’re not here to support the community”(Clay, 2012). It is not a fun, but business; therefore everything should be taken seriously.
In a conclusion, both entrepreneurs are successful businessmen and manifest their own outlook on the problems in business and enlighten them through the lenses of their own views.
Jain mostly focuses his attention on good intentions of entrepreneurs and the conscience they have to listen to.
Sun emphasizes that money matters and it is important to design a clear and efficient strategy of working in order to attract more and more new customers. The significance of product uniqueness is unquestionable.
What also is in common is that both businessmen stay focused on the providing role of a rallied work of all the members of the team at the enterprise. The entrepreneurs share the thought that CEO has to be wise and assume that there have been another people, more educated than they in some subject matters and these people are to form their company.
The issues of slow and fast firing are mentioned as well. Sun understands that there are time limits and the world changes, people should adjust themselves and the products they produce to the needs of changing and developing society.
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Stress-resistance is mentioned by both men of business as an integral quality of successful entrepreneurs.
Word count: 800 words.
- Clay, K. (2012). How to become a successful entrepreneur. Forbes. Retrieved from http://www.forbes.com/sites/kellyclay/2012/06/15/how-to-be-a-successful-entrepreneur/
- Jain, N. (2012). 10 secrets of becoming a successful entrepreneur. Inc.Magazine.
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