Entrepreneur’s True Success Depends on ...... ?

Success is never final and failure never fatal. It's courage that counts.

George F. Tilton

Entrepreneurs are amongst the most remarkable human beings on earth as they reach the heights of success by starting from nothing. Can anyone tell that what is the prime reason of the success of a specific person? It depends, the most important feature is not money rather it is the destiny that takes a person to superior levels. The true success depends on multi-access factors including hard work, circumstances, and basic needs for family survival, self-efficacy and a lot more.

If we take a quick glance at major entrepreneurs’ lives, we will come up with two of the most important factors; Unique Ideas and Courage to achieve the unachievable. In the beginning, no successful entrepreneur was aware of the fact that their business would touch the quantum of success but they have hope and intuition that gave them the direction to move forward. There is a misunderstanding among people about the terms entrepreneur and a startup business, they think that we can use these terms interchangeably but, in actual, both the things are different. Every new startup, though have the idea and the passion, is not hundred percent sure that they will get success.

Some people have started a business just to fulfill their basic needs but it has become a giant venture. Luck really works, but what about those who have got the opportunities and huge funds for their businesses but they failed? What about those who have taken loans several times and has started multiple businesses but again failed in all businesses? What about those who have got the luck plus funds and they have failed? They all missed the basic ingredients of a great entrepreneur, which are intuitions, hard work, risk taking, understanding of markets, latest trends, identification of a need, the micro and macro environmental factors. Some people think that, with money, they can have a successful but they were wrong and time had proven this.

Do prayers contribute in success? Yes, but it must be supported by hard work, courage, passion, enthusiasm, luck, family support, employees efforts, understanding of the market and stakeholders.

There is one more factor that is the most important and, unfortunately, the most neglected one.

It’s Time, yes. The right decision at the right time helps in reducing chances of failure. Great entrepreneurs know the importance of time management, they prioritize their tasks, and value their and others time. They never spend too much time at office, in fact they believe in work life balance. They give time to their family, friends and relatives. They learn from mistakes and utilize their time at their best.

The great teacher who guides entrepreneurs to prosperity is Failure. Yes, don’t be shocked we all, in our schools, have heard the story of “Robert the Bruce and the Spider”. In the legendary story, King Bruce of Scotland has faced six successive defeats by the English armies. Once in a lonely cave, he saw a spider who tried six times to cast his thread but fall, on the seventh attempt the spider was able to complete his web successfully. King Bruce took the inspiration from the spider and defeated the English armies on its seventh attempt.

This example sheds light on the fact that one should never be disappointed from failure. It provides you the direction and motivates you to implement your unique ideas along with the ingredients of success like luck, prayers, family support and hard work.  Entrepreneurs’ true success depends on their belief, hope and the destiny that life has set for him.