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8 Things Every Entrepreneur Needs to Know When It Comes to Achieving Success The shift in this industry is fast and you need to be able to adjust to it, you need to test, understand and learn

By Priyadarshini Patwa

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Being a new entrepreneur means you are entering a world which is full of challenges and lessons. However, success depends on how you foresee things. You are bound to make mistakes but learning from it is the real ball game.

There are going to be times when things might not roll out in your favour. Most of the business make it through the first year but building thereon and achieving success requires a lot of hard work, transformation, and a plan.

To help you sustain and main your achievement curve Entrepreneur India lists down eight things that you need to do in order to stay relevant and successful in this big bad modern, ever-changing world of business.

1. Knowing The Tech Trends

It's important to up your game when it comes to technology. The shift in this industry is fast and you need to be able to adjust to it. Test, understand and learn. See if the latest trend suits your business. Be open to tech as it can do wonder. Technology has changed the way consumer functions. You need to know the shift and latest trends so you can reach out to your audience in the best way. Going traditional is okay but the world is changing and it's time you do too.

2. Save Time - Need Of The Hour

There was a time when the product and cost mattered more to the consumer. However, consumer behaviour has changed. They value time which has become a vital pillar of any business constitution. Wonder why Amazon and Uber are ruling the market? They are selling time, you need to start doing the same.

3. Know The Top Authority

When we say authority, it ain't a person. Know what is the need. Every industry has a different authority, but we all need a clear plan and path to move forward. When planning something, ask yourself if it is different, what's your USP, is it cost sufficient? Look at your competitors. Learn from their mistakes, see where they are failed and that where your authority lies.

4. Take Advantage of Resources

We are in an era where technology and people make a lot of things easier for us. You don't need to do everything on your own. There are apps, resources that can make your life and business a lot simpler. Make use of technology to the fullest. Look what suits you best and there you are already making the best of your time and energy.

5. Evolving Yourself And The Team

The big bad modern world is changing in the most unpredictable ways. You are not just responsible for yourself but also the team that works with you. Hence it is essential to be a good team leader and keep them updated with technology, training, welfare corporate programs. One can't stay success based on past achievements. It is essential to create an improved organisational structure and to keep doing the same.

6. Be open to views

We are our busy and especially new entrepreneurs, but never be closed to a perspective. Be open to conversations, chats, interaction. You might not agree with everyone and everything but for sure you might come across various views that might help. To be honest we can always learn a thing or two from someone or the other.

7. Acknowledge Your Flaws

We all work hard towards achieving our goals but making mistakes are part and parcel of our lives. Acknowledge where you have gone wrong. Understand what didn't fall in place and why did you fail. Once you have an understanding of that you know how to plan things better the next time.

8. Hire People Smarter Than You

Often we fear to hire someone who is smarter than us. But why fear? As an entrepreneur, you need to pick strong-smart heads and put them in the right place to lead your companies to an upward curve. Remember you can only do so much on your own, you need a smart team to achieve what you want for your company.

Priyadarshini Patwa

Former Features Editor, Entrepreneur India

Priyadarshini Patwa is the Former Features Editors of Entrepreneur India and hosted an Instagram show every Friday named ‘Lighten Up’, about people from different walks of life and talk about their work and beyond. She handled the lifestyle, features, technology, entertainment segments and was also responsible for the Digital Covers. Previously she has worked with MensXP, a Times of India entity and Deccan Chronicle. 


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