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10 Success Mantras to be A Successful Entrepreneur

When I started my first job in 2004 my pay was ₹8000 per month and after deducting profession tax, the amount that got credited in my bank account was ₹7950.

I had a random thought of making 10 times my salary.

Fast forward to 2016 and I am able to invest ₹50,000 each month as capital towards my equity portfolio for educating my blog readers about investing in the equity market to build wealth.

Now my success target has moved few notch higher.

For some ₹50k may be successful for others 5 million may not be enough.

Success is a moving target and so instead of trying to chase a moving target, here are the 10 success mantra you can implement.

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1. Stop comparing yourself to others

If you want to be successful, you should stop comparing to others and try to compare it to yourself.

It does not matter how much and what others have achieved but what matters is what you have learned from what others have shared about their achievements and how you are putting it into actions.

The biggest competition for you today is your yesterday.

If you can improve your ability by 1% each day or each week or even each month, you will always be a better at whatever you are doing and you will always be successful.

Apart from that when you compare with others, you will try to be someone else instead of being yourself.

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2. Invest wisely

It’s not about investing your money. It’s about…

  • Invest in your education
  • Invest in being more productive
  • Invest in right tools
  • Invest in relationships (business as well as personal)
  • Invest in your family

You may or may not be able to become better than your yesterday everytime but if you invest in your education with the right attitude, you can always look to beat your yesterday which is more important than anything else.

3. Average is not enough

You may be working hard but in the 21st century you should be working smart over working hard. We have all the resources at our disposal and so working hard or even being an average is not enough.

If you are not good enough at something, outsource and get it done the way it should be done instead of you doing it all yourself to be an average.

You can be working hours to get an averagely good logo for your company, but it makes a lot more sense to hire a designer on Upwork.com or 99Designs.com and get a professional logo designed for your blog.

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4. Less is more

Are you trying too many things?

Reduce your focus on few great things over all good things.

As an entrepreneur there can be so many social media websites where you can focus your marketing efforts and it could be that none of them are working for you or all of them are just working for you.

Drop all but one marketing channels and focus all your time, energy and money on that one channel. Focus on being best at it and once mastered move over to the next one.

Take one step at a time and aim for less. Channelize all your time and effort in one direction.

Source: Essentialism: The Disciplined Pursuit of Less by Greg McKeown

5. Be ahead of the learning curve

Being a B.Tech in IT and still able to learn trading as well as investing in the stock market is because I always like to remain ahead of my learning curve.

I like to learn things and trading and investing in market is something where I read that 90% of Indian retail investors get it wrong. This made me to try it to see how everyone can get it wrong.

I will still consider myself a student and is still learning the process of investing, but I am able to generate returns on my investment that are better than many mutual funds’ fund manager who are considered to be financial experts.

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6. Be health wiser

Imagine yourself as a jockey who has found a race horse who will win you every race he runs.

What would you do for such a horse?

Provide him all the amenities he needs. Adequate rest time, best possible rest area or stable, adequate time for practice, hire professionals to look after him, provide him right food to eat and everything that you can imagine?

So your body is that horse for you and you are the jockey of life. You need to take care of your health, everything that is needed so you can win all the races that you run in your life.

7. Being not so smart student

If you are smart, intelligent, have secured good marks in college, doing fairly well in a job means it will be really tough for you to be a successful entrepreneur.

It’s so true.

If you are consistently doing well from your school days and has shown your smartness and intelligence, people starts praising you. This can make your unknowingly egoistic about your abilities which means you can piss off people around you.

As an employee, you may do great even if you are pissing off your colleagues but as long as you are not pissing of your managers but as an entrepreneur, it is never an individual game and pissing off your colleagues or partners may not take you very far.

College dropouts becoming top notch entrepreneurs all over the world is not merely a coincidence.

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8. Avoid great paying job

If you are doing very well in the job, it means when you quit, your benchmark for success will be set that much higher.

A person with ₹25k as monthly salary can consider being a freelancer but a person with ₹100k as salary may need a complete business plan to quit his job.

We can be tempted to think that person with ₹100k as salary can be financially more comfortable trying entrepreneurship but that is more often not the case because of social pressure.

If your colleague and even juniors are buying cars and flats, you cannot remain aloof accumulating money for the business you want to be trying. You may want to drive that awesome car as well.

9. Manage Finance

The unit of measurement of success is money.

Every successful entrepreneur should be able to manage finance efficiently. Cut unwanted expenses and be able to foresee the right area to invest.

You cannot be penny wise and pound foolish and yet be successful entrepreneur.

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10. The Right Attitude

Last but the most important aspect to be a successful entrepreneur is to have the right attitude. An entrepreneur works today to get paid later.

At times good writers don’t end up being great bloggers and it could be because of the attitude. As a blogger, your attitude should be to help your readers but if you don’t have the attitude of serving your audience, your articles will just get you readers and may not get you the a community that your blog may need.

As an entrepreneur you have to have an attitude to serve before you are being served.

There is a small test you can perform to know if you have the right attitude or not. If you have projects or ideas as half finished, you may not have the right attitude to be a successful entrepreneur because it’s not about what you have thought or has started but it’s about those that have made it to the finish line.

Over to you

Have I missed anything? I’d love to read your response or comments that you may have. Thanks!

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