6 Secrets of Successful Entrepreneurs

HSBC Philippines

We are fascinated at how some people succeeded in their own fields. We want to be just like them. But success does not happen overnight.

As I keep saying, it takes a lot of hard work and perseverance. Successful entrepreneurs also share several things in common. Here are some of them:

1. Every entrepreneur needs to have faith that he can make it. Of course, in starting the business, you need to be financially, emotionally and physically prepared.

Once you have set your heart and mind into something, you must dedicate your time to pursuing your dream.

2. Great entrepreneurs take some time to look into the market and check which products and services are in demand.

There are fad products. Nothing wrong there, but entrepreneurs know better than to focus on a particular product which will eventually fade away.

The demand for a particular product or service must be high if you want to stay in business. Think of something that is truly needed by the people not for just a single time only, but something that they will purchase every so often. Food is an example of a sustainable business.

3. Successful entrepreneurs hone their skills and abilities so that they can provide exceptional products and services to their customers.

There are many businesses that offer the same things. To penetrate the market, you need to some great strategies to get the public’s attention. Emphasize what difference you can provide your customers. Let whatever you offer to be worth every centavo that your customers pay for.

4. Entrepreneurs are patient with their business.

As mentioned earlier, there is no such thing as an overnight success. It takes years of experience before you can say that you have truly made it.

5. Entrepreneurs have a heart for the people who have been loyal to them.

The success of the business depends not only on the owner. You should realize that a company cannot be run by just a single person. With a great teamwork, positive things are bound to happen.

6. Successful entrepreneurs are thankful to the loyal customers and give them some perks to maintain their loyalty.

Customers always want to feel special. How do you make your customers stay? For sure, you know how a perks card work. It is not just a plastic card for nothing. Imagine how much one person enjoys shopping and be able to earn points each time he/she shops and can be able to convert the points to cash which he/she can use on his/her future purchases. That is just one way of showing your appreciation to your customers’ continuous support.

A successful business is the fruit of a very patient entrepreneur who can be at his best even in the worst of times.

Get The Business Mentor’s latest book “35 Tips On Business” available on E-book and paperback at www.amazon.com

(Armando Bartolome is known as the Philippines’ Franchise Guru, a mentor to numerous micro entrepreneurs who are now themselves big names in the industry. This article is reposted with the author’s permission and was previously published on The Business Mentor column posted by ABSCBN News. For questions and more information, you may contact Armando “Butz” Bartolome by email: philfranchiseguru@gmail.com or on Twitter @philfranguru. His website is https://www.gmbmsglobal.com/ )

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