Entrepreneurial Commonalities – Four.

In the fourth post of the series, Entrepreneurial Commonalities we explore five more traits that are commonly found in all the successful entrepreneurs. If you have read the previous three posts, you will agree to these facts: entrepreneurs like to do what they like to do; for them, meticulous planning is a business need and they can’t do without it; the customer is always considered a king and is respected and valued; they know team work is their number one sales tool and never underestimate the power of their business team; cash flows are never interrupted while they make sure that any/everyone gets their due, including themselves; they consider promoting self as another marketing tool; worship their work; use technology to leverage their business needs; are conscious about their business’s reputation in the market; are experts of their field and know consulting like the back of their hand; they’re involved like none other in their business and keep the faith; their penchant for an organised environment is for all to see; they believe in taking up and delegate the remaining to their team.

Quitters in its next phase of writing, titled “Entrepreneurial Commonalities”, is committed to take its readers through the journey of learning and sharing, questioning and being counter-questioned, applying and becoming, realising and teaching the stages that make up any and every entrepreneur’s life. We have talked about 15 common characteristics of successful entrepreneurs so far, covering five in each of Quitters’ previous post. Let us now talk about five more commonalities.

The Importance of Follow-ups: Even the new entrepreneur knows how important is following up and keeping in touch with their business alliances, associations, vendors, suppliers, customers, et al. It helps in various stages, such as converting a new customer into a regular one, adding weight to the otherwise usual transactions, cross-selling and earning more from the existing lot of customers, forming solid relationships with your suppliers and business team.

Relax and Take Time Out For Self: When you are in complete control of your business, you want to work round the clock. However, it does have some repercussions. Make sure you take out the time your mind and body needs to freshen up, schedule weekend breaks or vacations, break in for lunch and relaxing, etc. Do not try to work 24 hours in a day, it would never really help. Have a flexible schedule, so the customers see a “happy” you.

Fine-tuning Negotiations: Businesspersons across the globe practice and hone the skill of negotiating almost daily. It is an integral part of any business and needs to be dealt with during every business/individual transaction. Negotiating is not only cost-cutting and saving money wherever possible, it is also making the other party believe in the occurrence of a win-win situation.

Not a Seeker, But a Grabber: Every entrepreneur has this uncanny ability to get noticed in their circle, marketplace, friends, businesses, etc. Especially for a start-up on a tight spend budget, they rarely are investing millions on advertising anyway. They never let an opportunity of self promotion go waste, especially when they can continue to grab attention to grow their business.

USP is Their USP: All the successful entrepreneurs have businesses that have a clearly defined unique selling proposition. They know well what is it that separates their business from the rest and know also why the customers would not buy their competitor’s product/service. Entrepreneurs are known to create a competitive advantage over all their competitors.

We will come with 5 more traits of successful entrepreneurs before we complete this week’s special offering, “Entrepreneurial Commonalities”. You can share your views and suggestions in the comments’ section.


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