Becoming a successful entrepreneur can be rewarding. However, it’s a tough road and that why according to Small Business Administration, two thirds of new businesses do not manage to make 10 or more year in business. However, “achieving business success doesn’t have to be impossible,” said Issa Asad Florida entrepreneur for over 18 years. Mr. Asad is the CEO of Quadrant Holdings, Bond Media, and Q Link Wireless, all located in South Florida.
The following are Issa Asad 5 top tips for becoming a successful entrepreneur based on the experience of successful entrepreneurs like Issa Asad.
1. Be Passionate
Success is a journey. Lisa King, who runs Brownie Points Inc. encourages entrepreneurs to always start a business they are passionate about. Starting a business in which you lack passion will burn out quickly and lead to wastage of valuable time. Passion is important in motivating you as an entrepreneur and keeping you optimistic.
2. Innovation Is the Problem Solver
Innovation is invaluable in every area of life, be it governance, education, technology or business. Let us look at the groundbreaking solution Robin Brocklesby came up with when there was a problem in his line of business. Robin Brocklesby who is associated with Creative Coverings which rents out special linens for special events realized that his customers were experiencing difficulties returning rented linens. He sought the services of UPS to make things easier for his customers. They came up with an outstanding solution whereby customers were to return the linens in specially designed bags which have a lifespan of 300 uses, as opposed to larger boxes.
3. Focus On Quality Customer Service
Every business must devise ways of attracting new customers and retaining existing ones. According to Mike Mondello, president of SeaBear, creating a wonderful customer experience largely depends on teamwork. Your team must recognize the value of customers and the benefits of a successful customer experience. Lisa King advises entrepreneurs to offer services that improve customer experience.
4. Make Your Mistakes a Stepping Stone
Everyone makes mistakes and in real life, you cannot avoid making mistakes. In order to succeed in business, you must learn from your past mistakes and use them to propel yourself. A good example of a company that made a serious mistake but used it to better their services is SeaBear. Ten years ago, this company contracted out its call center not knowing that the move was to bring in errors in their customers’ orders. As Mondello points out, SeaBear intervened immediately and shelved outsourcing. They went ahead and contacted the customers who were negatively impacted by this unfortunate happening. This mistake served as a lesson for SearBear and as we talk, the company carefully scrutinizes any process ahead of time before its implemented.
5. Relate with Smarter People
No man is an island. As an entrepreneur you cannot afford to be a lone wolf. You must relate with other people and get the help you might need. If you need advice, do not hesitate. Ask and absorb the reasonable answers given to you. That is what Lisa King has done to ensure her business succeeds. Hire people with knowledge and skills that you lack. At the end of the day, your success will largely depend on the quality of relationships you will build along the way.