The secrets of entrepreneurial success

Several years ago, while running two large companies and trying to start a third I was brought face to face with the very disturbing realisation that I was trying to manage and direct the efforts of more than 150 people who were trying to achieve success, without knowing myself what the secret of success really was!

I suddenly had further realisation that regardless of my academic, practical and professional knowledge, I was definitely lacking in the most important knowledge of all.

After considerable research and study, I have found out that success is having a powerful purpose in life and in business, and faithfully following the Five Principles of Success. This lead me to the creation of consistent pleasure in my life, and caused myself and my businesses to grow with well placed passion and a positive mental attitude that gave me immense riches. It continues to provide me with the fuel that lights the flame that is my entrepreneurial spirit, and ever more guides me to the greatest heights of accomplishment.

You can keep the flame alive well deep inside your Entrepreneurial Core, and harvest its wealth by charting the following Five Principles for Success:

1.Knowing your outcome

Before embarking on a particular project or business venture, it’s imperative to know what you want the final outcome to be. What is the time frame? And, how much it’s going to cost? Often people are not sure of what they want. In our Goal Setting Program we elicit the entrepreneur’s desired outcomes by asking questions such as;

  • What specifically do you want to achieve? For what purpose?
  • Where are you now, what will you see/feel/hear when you have achieved your goals?
  • How will you know when you have it?
  • What will this outcome get for you and your business?
  • Where, when, how and with who do you want to achieve it?
  • What do you have now and what do you need to get your outcome?

The best way to discover what you want and why you want it is to take off the automatic pilot and seize control of your life and your business.

2. Taking positive action

Take positive action to cause your desired outcome to happen – nothing is going to materialise regardless of how much knowledge you have, unless you take the first step towards achieving your goals. The upshot from whatever you do will provide you with a useful learning experience. I remember a wise man said, “Those who don’t take step one never take step two.”

3. Having sensory acuity to notice what’s working for you and what’s not working

Observe the results you get from your actions. Determine if your actions are taking you closer or further away from achieving your outcome. Develop exquisite sensory awareness to gauge if you are being effective in producing profitable results.

4. Having behavioural flexibility to make change as required

Successful entrepreneurs are legendary in being flexible. If whatever they have been doing isn’t working, they do something else. If they do not know what else to do, they do anything else and go on changing their strategy until they find what works.

Flexibility increases your choice – rigidity and sticking to an adverse strategy, not only will limit your choices, but will also negatively impact your business and your life.

One of the biggest limitations to the progress and the future of business owners and their businesses is getting locked into a static strategy or a troubled business venture.  They may have big goals and dreams, but if they are pursuing them while maintaining the same kind of a strategy with tunnel vision, they are not going to succeed.

5. Operating from a physiology and psychology of excellence

Human beings have certain physiology intimately linked to certain emotional states. Entrepreneurs can employ this phenomenon to maximise the results that they can produce.

Adopting a positive physiology has positive impacts on both the entrepreneurs’ emotional state and resulting behaviour. When you act, feel and propel positive vibrations, you produce positive outcomes.

Get yourself in the best possible state – physically, emotionally, and mentally and then take action.

Are You Now On Your Success Path to

Wealth and Freedom?

The definition of success path for entrepreneurs is a business life that brings personal fulfilment and lasting relationships, and makes a difference in the world in which they live. The on-track successful entrepreneur is somebody who has impressive record of achievement, especially in gaining wealth, freedom, fame or power.

The entrepreneurial path is littered with immense challenges and dead bodies. Success may never come without a compelling personal commitment, talent, skills and enthusiasm.

Successful entrepreneurs have peripheral vision and thinking, enabling them to see an idea from many angles and think about it from numerous new dimensions, even when they are not looking directly at it. This is the secret of brilliant entrepreneurs who graduate to become multimillionaires in a short span of time. The peripheral thinking unlocks their passion and allows them to think strategically with innovative behaviour. That is their secret talent. They are master builders, interested in building success that lasts with vision, plan and resources, focusing most of their attention on where they are right now and their very next step.

By |2018-07-28T07:34:55+00:00October 13th, 2016|Entrepreneurial|

About the Author:

Michael Yacoub is the Founder & CEO of Advantex360. and the President of the Foretune Group. He has owned and operated several multi-million dollar, highly profitable businesses in retail, wholesale, manufacturing, telecommunications, hospitality and services industries. With more than 30 years experience in building people and businesses, Michael is also a prolific author of over 35 business development books and publications. He is an accredited Blue Ocean strategist, international public speaker and winner of the Telstra Business and ASX Market Awards.