Get All Access for $5/mo

3 Keys to Entrepreneurial Success Responsibility, mindset and passion are the three secrets to entrepreneurial success. Embrace them and you will find the success you're looking for.

By Damian Michael

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur South Africa, an international franchise of Entrepreneur Media.

Bigstock

There is no easy formula for entrepreneurial success. However, over the years, I have identified and adapted a process that focuses my efforts in productive ways in order to achieve results.

I believe that there are three keys that will help any entrepreneur soar:

  1. Responsibility
  2. Mindset
  3. Passion


1. Responsibility is the price of greatness

As human beings, we tend to blame genetics, economic circumstances, government and even our parents for the failures we've made.

One of the most fundamental foundational qualities I admire about leaders is the ability to take responsibility for their own lives and decisions they make.

To be successful and do great things with your life, entrepreneurs need to take responsibility for every facet of their decisions or business. Responsibility is the price of greatness.

Related: It's Time to Change Your Mind About Failure

As an entrepreneur, there is only one person responsible for the outcome of your life and the quality of your life and that person in you.

2. Shaping a positive mindset

Entrepreneurs are always thinking; always on the go. The busy-ness of running a startup or a company can drive you to burn out. In order to release some tasks, you need to have good processes in place as well as the right people on the bus to steer it in the right direction.

But now consider this: there is nothing like leaving your business to someone you don't believe is capable of handling issues and making decisions, which means you won't.

Related: How to Create a Future-Proof You

Most successful entrepreneurs are able to let go and delegate – they realise that they need to hand over operational elements of the business so that they can focus on strategy and growth. But they'll never (or rarely) choose a negative person to hold that position, or level of responsibility – at least not twice.

Our thinking shapes our life. We know that a person who thinks positively about themselves will do greater things than that of a person who thinks negatively.

This principle is even more important in how we view ourselves and where we see our businesses going. People with a positive mindset are able to accomplish amazing things. Our mind controls the brain and this is important to understand as entrepreneurs. Don't just look for positivity in your employees – demand it of yourself as well.

3. Finding your passion

Thinking, feeling and choosing our thoughts are paramount and fundamental factors that shape our realities. Eleanor Roosevelt once said, "no one can make you feel inferior without your consent."

There are many people who have succumbed to mediocrity. Even with an immense amount of potential within them, they choose to buy into someone else's view of them. However, belief in yourself is a choice.

Building a business for success is dependant upon you from this point on, and whether or not you can believe enough in yourself to ignore the naysayers and survive the inevitable failures that lie ahead.

Related: Erik Kruger's Lessons in Becoming the Best Version of You

At an event, if you asked the standard three questions: What is your name? Where are you from? What do you do? How do you respond? Are you comfortable with your name, where you come from and who you have previously worked for?

Are you proud of what you do and what you have achieved? Or do you avoid answering, because you feel stuck in an average or mediocre job?

Passion is the fuel that propels us to take flight in any significant measure of achievement or success. Passionate people are the source of real change in the world. Leaders and Innovators in every industry share one thing in common: They love what they do.

Finding passion for what you do will propel you into future success and help your vision take flight. An entrepreneur's passion is easy to recognise; your emotions will grip you, overwhelm you and will be devoted to find your purpose.

Every person will be remembered for their passion or forgotten for their lack of it. Never be lacking in zeal, as a turtle can only advance when their neck is stuck out.

Related: The Leadership Lessons That Have Helped Bevan Ducasse Build a R100-Million Business

If you're serious about taking your startup to scaleup, start embracing your passions and finding a way to fulfil them through your business – and embrace your potential and confidence as well.

Damian Michael

Serial Entrepreneur

Damian Michael founded Innovo Networks, a voice, data and cloud provider, in 2013. He was awarded Top 10 IT Personality of the Year 2016 and was a finalist in the Entrepreneur of the year awards 2017.  Innovo Networks won a bronze award at the ROCCI and FNB Business of the Year Awards 2017, in the technology category for innovation and disruptive ICT solutions. Michael has also been shortlisted in the Innovator of the Year category in the 8th All Africa Business Leader Awards in partnership with CNBC Africa, 2018.
Entrepreneurs

26 Of The Richest People in South Africa

Here are 26 of South Africa's richest people, but how did they achieve this level of wealth? Find out here.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

He Immigrated to the U.S. and Got a Job at McDonald's — Then His Aversion to Being 'Too Comfortable' Led to a Fast-Growing Company That's Hard to Miss

Voyo Popovic launched his moving and storage company in 2018 — and he's been innovating in the industry ever since.

Leadership

Steve Jobs' 3 Public Speaking Power Moves Remain Just as Relevant Today, 13 Years After His Final Keynote at the Apple Developers Conference

The co-founder and former CEO of Apple knew how to get big ideas across to consumers and investors.