7 Essential Concepts for Entrepreneurs
Ready to turn that dream of running your own business into a reality? You’re not alone. Recently, nine members of the Young Entrepreneurs Council (YEC) shared vital concepts that define successful leaders in today’s progressively challenging business world.
So, before you quit your day job, make sure you have these essential concepts down to a science.
1. Authenticity
Modern-day entrepreneurs need to stay authentic above all else. Authenticity in our ever-increasing digital world, where consumers have everything at the touch of a button, allows business owners to maintain a unique voice. – Raquel Rodriguez, Metalco Active USA, Inc.
2. Empathy
Valuing empathy as a core principle of their products, services, work environment and mission is essential. It would be nice to think people’s own conscience compels them to do these things. But regardless, the market itself is beginning to value these things more. Millennial culture is demanding more humane work environments and business models that are a net positive for the world. – James Schmachtenberger, Neurohacker Collective
3. Human Interaction
Young entrepreneurs focus on how technology can change their business productivity, which is extremely important. But sometimes they tend to forget the human factor, and the fact that some businesses and clients do want human interaction, personal customer service and the possibility of creating a meaningful relationship with their service or product providers. – Gil Breef, Shades By Design Inc.
4. Hunger
Commit yourself to being different. It is very tempting in the beginning to conform to what others in the industry have done because it “worked for them.” Stay hungry and be willing to disrupt the market. That is where you will find success and begin to steal market share. – Camryn Skladany, Innovien Solutions LLC
5. Quantifiable Goals
Create a vision for your life and set a quantifiable goal that reflects it. Each and every morning, ask yourself, “what will I do today that will bring me closer to my goal?” Then do it, consistently, every day. – Joe Fairless, Ashcroft Capital
6. Data Analysis
As an entrepreneur, you must be able to gather, analyze and interpret numbers generated by your company or industry effectively, and act on it with intent and agility. Building a solid business model is never an overnight inspirational moment, but a constant grind through incremental optimizations informed by data. – Alpay Koralturk, Furnishare
7. Personal Brand
Create, grow and manage your personal brand. Everyone is a walking business, and as an entrepreneur, this is especially important to be aware of. By properly connecting with your audience today, the next new project or business you start tomorrow will already have a head start. – Kage Spatz, Spacetwin, LLC
