Entrepreneur.com, 8-10-2016 -- Working as a senior vice president for a Fortune 100 company and running IT Services for 48,000 end-users on a global scale was a tough job. It was long hours, lots of pressure and difficult customers. But, even so it was nothing compared to joining the ranks of the entrepreneurs and starting my own business.
Here are 10 things I wish I had known before I started as it would have helped me be better prepared for the important first few years of my entrepreneurial life.
1. Don't create new products, solve problems.
Forty-two percent of product launches fail because there is no need for the product. That's right 42 percent fail because nobody wants the product.
So instead of trying to develop new and wonderful products to look for problems to solve. Where there's a problem, there is a need.
2. Forget about being an overnight success.
Even the companies regarded as the quickest overnight successes, Amazon and Yahoo, took at least three years to get there, and the majority of companies take up to 10 years to really make it. So if you're the goal is to be the next billionaire start-up owner then you need to be prepared for a long haul.
Related: 6 Signs You Are Not Ready for Entrepreneurship
3. Focus on your strengths, not your weaknesses.
Your success is going to come from your strengths so make sure the majority of your time is focused in that area. We all have weaknesses, but either outsources those areas or hire someone to take care of it for you. Focusing on your weaknesses takes you away from what you're best at and is not a good use of your time.
4. Get the right team around you.
We can't do it all on our own; we need help, but we need to make sure we get the right help. Twenty-nine percent of start-ups that fail do so because they had the wrong team in place. So take the necessary time to evaluate the team that you need and then hire the best people you can.
5. If you're going to fail, fail quickly.
Failure is all part of the process, not only should you expect it, but you should plan for it. The best approach for failure is to fail quickly, adapt and try again. One of the worst things we can do is to fail slowly, desperately hoping that things will turn around. You need to learn quickly what's working and what's not that needs to be stopped.
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Entrepreneur.com, June 24, 2016 -- Too many people succumb to the mistaken belief that being likeable comes from natural, unteachable traits that belong only to a lucky few -- the good looking, the fiercely social and the incredibly talented. It’s easy to fall prey to this misconception. In reality, being likeable is under your control, and it’s a matter of emotional intelligence (EQ).
In a study conducted at UCLA, subjects rated over 500 descriptions of people based on their perceived significance to likeability. The top-rated descriptors had nothing to do with being gregarious, intelligent or attractive (innate characteristics). Instead, the top descriptors were sincerity, transparency and capable of understanding (another person).
These adjectives, and others like them, describe people who are skilled in the social side of emotional intelligence. TalentSmart research data from more than a million people shows that people who possess these skills aren’t just highly likeable; they outperform those who don’t by a large margin.
Likeability is so powerful that it can completely alter your performance. A University of Massachusetts study found that managers were willing to accept an auditor’s argument with no supporting evidence if he or she was likeable, and Jack Zenger found that just 1 in 2,000 unlikeable leaders are considered effective.
I did some digging to uncover the key behaviors that hold people back when it comes to likeability. Make certain these behaviors don’t catch you by surprise.
1. Humble-bragging. We all know those people who like to brag about themselves behind the mask of self-deprecation. For example, the gal who makes fun of herself for being a nerd when she really wants to draw attention to the fact that she’s smart or the guy who makes fun of himself for having a strict diet when he really wants you to know how healthy and fit he is. While many people think that self-deprecation masks their bragging, everyone sees right through it. This makes the bragging all the more frustrating, because it isn’t just bragging; it’s also an attempt to deceive.
2. Being too serious. People gravitate toward those who are passionate. That said, it’s easy for passionate people to come across as too serious or uninterested, because they tend to get absorbed in their work. Likeable people balance their passion for their work with their ability to have fun. At work they are serious, yet friendly. They still get things done because they are socially effective in short amounts of time and they capitalize on valuable social moments. They focus on having meaningful interactions with their coworkers, remembering what people said to them yesterday or last week, which shows people that they are just as important to them as their work is.
3. Not asking enough questions. The biggest mistake people make in conversation is being so focused on what they’re going to say next or how what the other person is saying is going to affect them that they fail to hear what’s being said. The words come through loud and clear, but the meaning is lost. A simple way to avoid this is to ask a lot of questions. People like to know you’re listening, and something as simple as a clarification question shows that not only are you listening but that you also care about what they’re saying. You’ll be surprised how much respect and appreciation you gain just by asking questions.
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