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Good entrepreneurship comes with patience and courage. Successful risk takers have the gall to face terrible failures. They can’t achieve until and unless they’ve faced drastic losses. Throughout this process of chance-taking and resilience, an entrepreneur also has to realize their utmost potential. You can’t have anything worth having unless you put an effort into getting it.

In the process of production, an effective entrepreneur’s input is not just limited to land, labor or capital. It also consists of their habits. Here are 6 habits of highly successful entrepreneurs:

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Starting with a Market Need

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You know how they say, “Necessity is the mother of invention.”

If I were to ask you, I’m sure you could brainstorm and give me 50 ideas for a unique good or service, to launch in the market. But the truth is; unique products are not valuable enough. There’s too many of them. Consumers don’t want something new. They want to satisfy their needs.

Besides, if you launch a new idea, you’ll have to build a market around it, by looking for prospective buyers. However, if you start with a necessity, the market’s already ready – consumers who need to buy what you’re selling.

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They Don’t Boss, They Lead

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A good entrepreneur says ‘we’ instead of ‘I.’ The difference here is in the perspective. To become a successful entrepreneur, you have to operate with a team and perform just as much as any other member, if not more. You have to look at long-term results and how the process will affect not only you but every other member. Good entrepreneurs are never bosses, they are colleagues.

They Read

If you want to take the risk, it needs to be well-informed. You need to have a sufficient amount of knowledge regarding your provided good/service. Without this information, you will never be able to generate consumption. Also, you want to know who your competitors are, what strategies they use and where you stand in the market. If you dive right in, all blindfolded, the bigger sharks will eat you up.

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The solution is to read. It can be newspapers, books and even just grocery lists. Anything with favorable data on it, you need to get your hands. Read and look for trends. Get enlightened. You’ll be more likely to take up new and improve old skills.

Make Use Of Everything They’ve Got

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Pulled this off the Forbes site from my 30 under 30 speech. I literally did take a fear of flying class but always missed the class, because I was always flying! My teacher would say "I don't know if I should be mad at you, or proud of you." I was in the class with many people who had never been on a plane before, and at the time I was a delta gold medallion. People were so confused. But that's how I've lived most my life. .. scared sh^*+•{||, but do it anyway. Life is not about the absence of fear, it's about how big and bold you live despite it. Don't let fear win, ever! Life is to short… and if we are lucky we're only here for 100 years anyway… so live large, be bold, get on the plane, ask for the order, follow your passion, speak up, embarrass yourself and then tell a great story about it… #OneLife #NotADressRehearsal

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Be proactive and productive. Every resource that you have, ranging from time to trash, make sure you use it to its full capacity. Great entrepreneurs take the three Rs very seriously; Reduce, Reuse, Recycle. This is because they don’t take any resource for granted and hence, allocate each one intelligently. They use tactics to cut down on costs and generate economies of scale. They don’t waste or splurge, and they aim for 100% efficiency. As a result, they get exponential returns.

Value Addition

Successful entrepreneurs never settle for less. They always want to produce with better quality than before. Their output’s reputation and reliability in the market is extremely important to them.

The idea is to strive for excellence, and not just success. Running after success will get you nowhere unless you’re capable. But once you make yourself worthy enough, success will automatically come looking for you.

Don’t aim for massive monetary returns. Aim to produce, aim to provide, and aim to progress. Treat money solely as a generator of your factors of production, and nothing else. When you start with that perspective, you’re forced to produce more, which generates relatively more returns.

Take Advice From All, But Do As They Deem

Of course, some good suggestions can help you along the way, by giving you headstarts and helping you dodge hazards. But not always will a suggestion seem feasible. Remember that your decisions are exclusively yours. You are not required to act on suggestions given to you.

Ignore everyone who says you can’t do it, or that you haven’t got it in you but keep your ears wide open for constructive criticism. Good feedback can help you go a long way.

After incorporating these 6 exceptional habits in your life and career, all you need to do is wait. Soon enough, your name will be up there, amidst the world’s most successful entrepreneurs.

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