10 Questions to Ask Yourself When Testing a Business Idea

You've got a business idea you're jazzed about, but aren't sure if it's feasible. What you need to do is test the concept to see how it stands up to a series of rigorous questions.

"You are always testing," says Andre Marquis, Executive Director of the Lester Center for Entrepreneurship at Haas School of Business at the University of California, Berkeley. "What you start with is rarely what you end up with."

Where to begin? Here are 10 key questions to help you evaluate your business idea:

1. What is my customer profile?

Maybe your product or service idea seems like just the right solution for you, but can you identify a clear customer base beyond yourself? Ask what your customer's biggest pains are and how your product might help resolve them, says Alexander Osterwalder, co-author of Business Model Generation (Wiley, 2010) and founder of The Business Model Foundry, which provides digital tools to help develop business ideas. When David Dodge got the idea to start a tutoring business, he used Internet surveys to develop a psychographic analysis of his core customer. "I tried to dig deep and find more," he says. "Understanding and segmenting your market is very important." In 2005, he founded Sure Prep Learning in Scottsdale, Ariz., focusing his marketing on worried and competitive parents. Today, the business has more than 800 tutors.

2. What am I replacing? 

Whatever your idea is, someone out there is buying something else in its place, says Jim Pulcrano, executive director of IMD, the top-rated Swiss business school. Ask yourself what makes your product compelling enough to replace what's already in the marketplace. This doesn't necessarily have to be limited to products that have a similar purpose as yours, Pulcrano says. You could also look at your target customers' spending habits, he says, and consider how you could get them to buy your product instead of something else they currently purchase.

3. How do I demonstrate this idea to others?

Make your idea as tangible as possible, says Steven Stralser, clinical professor of entrepreneurship at Thunderbird School of Global Management in Glendale, Ariz. That might mean developing drawings or a working prototype. By figuring out how you can easily represent your idea to others, you'll start to see how much footing it has, Stralser says. "The ability to show it to other people becomes very critical."

4. Who will I need on my team? 

In the early stages, you'll need to figure out whom you can turn to for honest and informed advice about your ideas, Stralser says. And soon, you'll also need to think about whose brainpower you want on your side—whether in product development, marketing, IT or another function. Find a way to approach such people to gauge their interest in getting involved.

5. What resources do I need?

How can you actually make this idea happen? That requires asking what resources you'll need, from factories to computers to office space, Osterwalder says. Make a list of all the key assets and figure out whether you can obtain them before you invest a lot of time and money in testing and product development.

6. How long will my purchasing cycle be? 

You want to know the purchase cycle for your product or service so you can estimate your upfront cash needs. With a longer purchasing cycle, you'll need more money on the front end before you start bringing in revenue. If you are selling medical technology to a hospital, for instance, that transaction might take 18 months to complete. In contrast, a phone app can be purchased immediately.

7. What's a reasonable sales forecast? 

You want to analyze the actual operation of the business as much as possible to come up with a solid sales forecast, Stralser says. For example, if you want to open a restaurant, don't just base your revenue forecast on annual restaurant sales in your city. For a more specific estimate, consider the size and seating capacity of your proposed restaurant, the expected average customer bill, and the hours of operation.

8. How much growth potential does my idea offer? 

Think about how big you want your business to be and figure out if your idea can meet your expectations. For example, if you are writing software, building simulations or making something by hand, you should realize that you may not grow as fast as if you're making something that can be mass produced. "Are you selling your time, which is finite, or are you selling a product, which you can sell a million of?" Marquis says. "A lot of times it's not obvious to people."

9. Do I possess the necessary skills?

Having an idea and making it happen are two very different things. Be honest in assessing whether you're qualified to turn your idea into a business, Pulcrano says. If an idea requires highly technical skills or business experience that you lack, will you be able to find someone who can fill those gaps?

10. Can I see myself doing this for the next two years? 

Coming up with an idea can be exciting, but are you willing to dedicate your life to it for at least the next two years? Do you have support from family, friends and mentors, and are you willing to make the necessary sacrifices? Dodge decides whether to pursue an idea partly based on how excited he and his team are about it. "You have to look at opportunity cost and realize any new opportunity is going to take a tremendous amount of time and energy," he says.

From Entrepreneur

6 Ways to Make a Great First Impression

You never get a second chance to make a first impression. Either consciously or unconsciously, we make judgments about the professionalism, character and competence of others based on first impressions.

Just as you evaluate potential business partners, employees and personal acquaintances on your first-time encounter with them, others will judge you and your business by how you conduct yourself.

The best way to make a positive first impression, especially in business, is to embrace uncommon common sense. Many entrepreneurs overlook the importance of poise and professionalism. A few common courtesies will help you make a positive impression when you meet someone for the first time.

Use these six tips to guarantee you’ll make a great first, and lasting, impression — no matter the circumstance.

1. Prepare ahead of time. Preparation reduces anxiety and will help you show more authority. If you do your homework, you’ll have an enormous advantage over your competition. Before an important meeting, learn everything you can about your potential client and his or her unique approach to business. Familiarize yourself with the industry in which you’ll be working and brush up on current events. Visit the company website to learn more about the company’s history, staff and recent news releases. When you take the time to prepare, you’ll appear interesting and knowledgeable — two qualities that help make a good impression.

2. Find out who will attend the meeting. To go above and beyond, reach out to the meeting organizer to learn which stakeholders will be in attendance. Memorize each person’s name so you’ll be able to address everyone directly throughout the meeting. Log onto LinkedIn and learn more about each person and their background, as well as hobbies and interests. If you find you have something in common, use it as a way to break the ice with a little small talk before you move on to business.

3. Arrive a few minutes early. It’s important to be punctual, but when you arrive on time you send the clear message that you’re responsible, capable and respectful of others’ time. Those few extra minutes will give you the opportunity to go to the restroom, check your appearance and gain your composure before you walk into an important meeting. Always schedule extra time on your calendar to account for travel, traffic delays, inclement weather and finding a parking spot.

4. Suit up for success. A professional appearance will enhance your personal brand. The more “put together” you appear, the more likely you will leave a positive impression. You don’t have to purchase expensive designer suits to look your best. Instead, invest in timeless classic pieces to create the foundation of your wardrobe. Always dress for your client’s comfort, not yours. If you’re meeting with a group of bankers, a dark suit is most appropriate. Some occasions, however, call for a more creative approach. It’s okay to show more of your personal style if you work in an artistic career or when you meet with a group of designers. Be sure your wardrobe consists of clothes that fit and flatter your body shape.

5. Give a firm handshake. In most cultures, a solid handshake carries a lot of weight. Your handshake should be warm, friendly and sincere. If it is too firm or too weak, you may convey a negative impression. If you’re seated when you’re introduced to someone, stand before you shake his or her hand — it shows respect for yourself and the person you’re meeting. Remember to keep it short and sweet; many people will become uneasy if a handshake lasts for more than a few seconds. Finally, be sure to smile and make eye contact as you shake hands. 

6. Listen effectively. Attentive listening builds trust. Throughout your meeting, ask pertinent questions. When someone else speaks, make eye contact and show you’re fully engaged in what he is saying. Always allow others time to fully express themselves. If you interrupt or attempt to finish someone’s sentence, he may assume you’re in a hurry or feel you don’t respect his opinion. Effective listening skills will help you establish rapport with new clients and business partners. 

From Entrepreneur

10 Single Mom Entrepreneurs Share Their Best Business Advice

Running your own business is no piece of cake. Neither is raising a family. These 10 single moms, all of whom have built successful companies, manage to do both with a mix of intelligence, creativity and sheer determination.

For some of these mompreneurs, starting a business was a means of creating a better life for their kids; for others, the kids themselves inspired the business idea.

All of them have learned critical lessons along the road to success. Check out their top 10 tips and get inspired.

1. Own your single-mom status.

Image credit: Angela Benton

Angela Benton is the founder and CEO of NewME. Since launching in 2011, NewME has accelerated over 300 startups and helped them raise over $17 million in venture capital funding. Having her first child at 16 has never slowed Benton down as she has made a name for herself in the world of design and technology, appearing on Ebony magazine's Power 150 in 2010, Goldman Sachs’ 100 Most Intriguing Entrepreneurs of 2013 and Marie Claire’s 50 Women Who Rule in 2013.

Her advice: "Being a single mom is NOT a setback. Nestled somewhere in the pages of a storybook is the idea that entrepreneurs "hustle," "crush it," "grind" and whatever other word you can come up with to describe working really, really hard on your business 100 percent of the time.  Out here in the real world we know that's not true.

Don't get me wrong, entrepreneurship is a ton of work. However don't let the perception of this lifestyle count you out before you even count yourself in. Being a single mom comes with a wealth of skills that do well in entrepreneurship like: multitasking, creativity, managing and/or operating on a budget, and problem-solving to say the least. I don't know about you but I'd put my money on someone with these skills rather than a new college grad."

2. Ditch toxic influences.

Image credit: Lisa Stone

In 2005, Lisa Stone co-founded BlogHer. Today, the female-focused media platform has an audience of 100 million. BlogHer also hosts the largest U.S. events for women who blog and use social media, and an award-winning social hub at BlogHer.com. Through BlogHer's growth, Stone has learned how to succeed as an entrepreneur both as a young, divorced and single mom and now the working mother of a three-kid Brady bunch (ages 26, 18 and 14).

Her advice:  "Ban toxic people from your life. You don't have enough time already, right single mom or dad? So if you are living or working or worshipping around a toxic person or people who invade your confidence and bring you down, you MUST remove them from your life."

3. Include your kids in your business.

Image credit: Lauren Thom

Lauren Thom founded New Orleans-brand Fleurty Girl using $2,000 from her 2009 tax return. When the Saints went to the Super Bowl later that year, her t-shirts quickly became a must-have item for every New Orleans fan. Five years later, the single-mother of three now owns five locations and manages 30 employees.

Her advice: "You have to make family a part of your business… I've always considered my kids to be my board of directors, whether we're moving or having them share a bedroom so we can open a store in our house. Make them a part of that journey. And that's for any mom, not just single moms… Our kids are our reason to seek out a better life."

4. Give yourself a break.

Image credit: Karla Campos

Karla Campos is a single mother of three and the founder of digital marketing training and education company Social Media Sass. Currently, she is working on Florida Social Con, a conference dedicated to bring affordable quality social media training to small business owners.

Her advice: "Entrepreneurship, just like motherhood, is not a 9-5 job. Some days I stay up until 3 am working and then have to do a 7 a.m. child drop off at school. Be kind to yourself. Make time for you even if it's just to breathe and smell the air. Kids are going to make messes, they are going to eat your reports and download viruses to your computer. Your best weapon is a sense of humor. Enjoy your single mom entrepreneur life, wear the title proudly. We are basically super heroes." 

5. Remember: all you need is an idea and serious drive.

Image credit: Lauri Levenfeld

As a mother of three, Melissa Kieling struggled finding a product to keep her kids' lunches cool and safe until lunchtime. So, she patented the idea for a lunch bag with a freezable gel built into its lining – an idea that grew into PackIt Personal Cooler. Five years later, PackIt has grown into a $14 million business with products that span lunch, wine, baby, picnic and shopping and distribution reaching more than 40 countries internationally.

Her advice: "Look for inspiration everywhere. Make note of all the things that frustrate you in your daily life, then research creative ways to address those inefficiencies. All it takes is an idea and an Internet connection to create a product that changes the world.  

Don’t let inexperience stop you. My business résumé was basically limited to school bake sales. Not knowing which steps to take first nearly paralyzed me with fear. I overcame this by reaching out to other business owners who could connect me to experts in manufacturing, production and sales. Each key person I met shortened my learning curve and gave me confidence. You’ll be pleasantly surprised by how other small business owners want to pay it forward and see new upstarts succeed."

6. Focus on the positives.

Image credit: Natalie Angelillo

Natalie Angelillo has over 20 years of experience shaping growth and development strategies, building brands, plotting new markets, and securing key venture capital. She is the founder and CEO of school fundraising startup, SwopBoard.com, and the founder and co-owner of blow dry salon Swink Style Bar. The mother of two has also held VP and C-level positions at Getty Images, PhotoDisc, and PhotoZone and is a regular advisor for startups and entrepreneurs.

Her advice: "There is enough guilt to go around for any parent, so I make a conscious effort to let it go and focus on the positives. I may have a hectic schedule, and, as a result, my children are learning how to be independent and self-reliant. They are getting an inside-look at how a startup works, by testing our app and coming into the office, which I know will benefit them in the long-term."

7. Only date supportive romantic partners.

Image credit: Zhena Muzyka

As a single mother with no money, Zhena Muzyka started her business by selling tea out of a push cart with a $3,000 loan from her family. Eventually, she created an empire that does more than $6 million in sales and it is now sold in over 10,000 locations across the country. Muzyka is also the author of Life by the Cup: Ingredients for a Purpose-filled Life of Bottomless Happiness & Limitless Success.

Her advice: "Don’t date competitive guys. This may seem like strange advice, but I can’t tell you how many dates I went on as a single mom entrepreneur where the guy subconsciously competed with my business and my child. It usually was date three or four when it would come out, but I was surprised at how many men want you all for themselves.

When dating, look for potential partners who love what you do and show it by changing their schedule to be there for you. When I found my husband, he made every effort to help me with Sage, he’d drive almost two hours to babysit so I could do marketing events, even though he had an executive position of his own. Not all partners will want to play a support role, so find someone who has a deep passion of their own and isn’t afraid to nurture it, they’ll allow you the same."

8. Give up on finding the perfect work-life balance

Image credit: Nusha Pelicano

Nusha Pelicano is a single mother of six, an Ironman competitor and a franchisee with Orange Leaf, the frozen-yogurt company. Pelicano opened her first Orange Leaf location in 2010. Today, she has five locations open and another store on the way.

Her advice: "Thinking about how I was going to do it all almost stopped me from starting my own company years ago. It seemed unreasonable to think that I'd be able to get everything done that I wanted to get done as an entrepreneur and still be the mother I wanted to be to my three kids.

The truth is you can do it all if you just change what your definition of balance is. There are times where my business gets more attention than my kids and vice versa. In the end I like to believe that is all balances out. Part of being an entrepreneur is being comfortable with changing direction quickly. Needless to say as a single mother and entrepreneur you'll get a ton of use out of that skill! So relax, have faith, and take it one day at a time."

9. Slay the comparison critic.

Image credit: Brook Eddy

When Brook Eddy visited India in 2002, she came away with two things: an understanding of Bhakti, or devotion through social action, and a love for masala chai. The two came together in Bhakti Chai, a sustainable and socially conscious beverage company.

Her advice: "I used to imagine how men had so much more time and ease managing companies. I fell into a mind wrap trap of comparing myself to men who had assistants to deal with the nonstop scheduling, travel, meetings, reports, and presentations – how productive! Or the men with wives to care for children and manage all the shopping/laundry/carpools/cooking/pets/school/homework/sport registrations – how helpful!  Or the men with industry connections brimming with money and influence – how lucky!

But this was just my judgment, my assumptions, and my method of feeling sorry for myself by sinking into distraction… We are all pulled in 100 different directions daily - even men with teams, wives, or connections are shackled daily with stress. You could similarly compare yourself to mothers with free time that and are not starting companies or to entrepreneurs without kids or with supportive wealthy husbands – but it’s not going to change the fact that you have to work harder, and smarter, and longer.

The “poor me” mentality only serves procrastination, self-doubt, and a negative thought loop - not our greater purpose or our nobler ability to trust. Furthermore, those added stressors (or ‘influencers’ as I sometimes refer to my ten year old twins) may in fact be the very inspiration for your next product line, marketing initiative, or social media campaign."

10. Find the right schedule for you.

Image credit: Sherry Colbourne

Sherry Colbourne is a 20-year veteran of the Canadian high tech sector. As an expat and social media strategist working in Oman, she combines her well-honed business development skills with social media to help clients grow their businesses and expand their reach. She also works with a number of Omani incubators to mentor some of Oman's bright and upcoming entrepreneurs.

Her advice: "Mompreneurs, more than other entrepreneurs, need to be disciplined in their relationship with time. When I was a single mom with a growing business, I would wake up at 5 a.m. so I'd be in the right frame of mind to deal with my then teenage children. Morning conversation and breakfast provided the energy we needed for the day and a sit-down dinner provided the engagement we needed to stay connected. I found the natural rhythms in my business and used them to schedule appointments and work out. There were no marathon workouts for this girl, but half an hour on a treadmill can go a long way to clearing your head and reclaiming your energy. Find what works for you and make yourself one of your priorities!

From Entrepreneur

Key to Career Success? Finding the Right Spouse

There’s a lot to consider when choosing a romantic partner – whether you have compatible life goals, how well you get along with each other’s family and friends, and physical attraction may top the list.

But now there’s another reason to carefully screen your potential spouse: who you choose to spend your life with may impact your career success.

“The personality of your spouse could influence a lot of your behaviors and these behaviors can then spill over into your work life,” says Joshua Jackson, assistant professor of psychology at Washington University in St. Louis. 

Jackson is the lead author of a new study to be published inPsychological Science that tracked nearly 5,000 married Australians for five years and measured how a spouse’s personality impacted whether their partner received a promotion, earned a higher salary or experienced higher levels of job satisfaction. Those who were most successful had spouses who scored high in conscientiousness.

The correlation between a conscientious spouse and career success held up regardless of gender and regardless of whether the couple was a dual-income family or a single-income family, though Jackson notes the effect was higher for single-income families.

So, what makes conscientious partners the key to success?

“Conscientiousness is the most beneficial personality trait,” says Jackson. Conscientious individuals are thorough, efficient and organized. They do things by the book and are able to control impulses.

There are three main ways in which having a conscientious partner affected one’s career success:

1. They lower your stress. “Having a conscientious spouse is associated with a happier home life,” says Jackson. A happy home life reduces stress and means you’re better able to focus while at work without worrying about trouble brewing at home.

2. A conscientious spouse tends to handle more of the day-to-day household chores. Since conscientious individuals are hard-working and efficient, they’re able to remove household tasks and responsibilities from their partners’ plates, freeing up more time for their spouse to recover from a hard day at work, or to put in more hours at the office.

3. They encourage similar behavior in their partner.  A conscientious spouse can role model good habits and traits such as diligence and reliability – skills that have been shown to contribute to career success.

From Entrepreneur

Write a Simple Marketing Plan

5 steps to a simple, concise plan that'll get your marketing efforts on the right track

Q: My partner and I want to write a marketing plan for our business, but it seems really complicated. Is there a way to simplify the process?

A: Writing a great marketing plan doesn't have to be a headache. I recommend a simple plan, broken down into five sections, that's easy to write and follow. If you're creating your marketing plan for in-house use, you can bullet the sections and make the writing as brief as possible. Content matters most--not your writing style. Here's how to write a five-part plan that works as hard as you do:

Section 1: Situation Analysis

This introductory section contains an overview of your situation as it exists today and will provide a useful benchmark as you adapt and refine your plan in the coming months. Begin with a short description of your current product or service offering, the marketing advantages and challenges you face, and a look at the threats posed by your competitors. Describe any outside forces that will affect your business in the coming year--this can be anything from diminished traffic levels due to construction if you're a retailer or a change in law that could affect a new product introduction if you're an inventor, for example.

Section 2: Target Audience

All that's needed here is a simple, bulleted description of your target audiences. If you're marketing to consumers, write a target-audience profile based on demographics, including age, gender and any other important characteristics. B2B marketers should list your target audiences by category (such as lawyers, doctors, shopping malls) and include any qualifying criteria for each.

Section 3: Goals

In one page or less, list your company's marketing goals for the coming year. The key is to make your goals realistic and measurable so that you can easily evaluate your performance. "Increase sales of peripherals" is an example of an ineffective goal. You'd be in a much better position to gauge your marketing progress with a goal such as, "Increase sales of peripherals 10 percent in the first quarter, 15 percent in the second quarter, 15 percent in the third quarter and 10 percent in fourth quarter."

Section 4: Strategies and Tactics

This section will make up the bulk of your plan, and you should take as much space as you need to give an overview of your marketing strategies and list each of the corresponding tactics you'll employ to execute them. Here's an example: A client of mine markets videotape and equipment. One of her goals is to increase sales to large ministries in three states by 20 percent. Together we've developed a strategy that includes making a special offer each month to this prospect group, and one of her tactics is to use monthly e-mails to market to an in-house list.

Your tactics section should include all the actionable steps you plan to take for advertising, public relations, direct mail, trade shows and special promotions. You can use a paper calendar to schedule your tactics or use a contact manager or spreadsheet program--what matters most is that you stick to your schedule and follow through. A plan on paper is only useful if it's put into action.

Section 5: Budget Breakdown

The final section of your plan includes a brief breakdown of the costs associated with each of your tactics. So if you plan to exhibit at three trade shows per year, for example, you'll include the costs to participate in the shows and prepare your booth and marketing materials. If you find the tactics you've selected are too costly, you can go back and make revisions before you arrive at a final budget.

You can adapt this plan as your business grows and your marketing programs evolve. Soon you'll find it's a simple tool you can't afford to be without.

From Entrepreneur

To Be Successful, Do Only What Matters

Everyone is obsessed with the habits of the wealthy these days. The great irony is, if successful people concerned themselves with that sort of nonsense they never would have made it big in the first place. Truth is, none of that stuff matters. It’s all just a waste of time and focus.   

If you want to be successful, you have to learn what really makes a difference. What really matters. You need to do that and keep the distractions – everything that doesn’t matter – to a minimum. Now I’ll tell you what matters but I’ve got to warn you: it’s really simple. But then, all great lessons in life are simple.

What matters is what you do. How do you figure out what to do? Strangely enough, you figure out what to do by doing. By …

• Getting out into the world, getting a job, experiencing and learning.
• Figuring out how business works.
• Learning what you like to do and what you’re good at – your strengths to leverage and weaknesses to overcome.
• Gaining confidence from your successes and wisdom from your failures.
• Meeting smart people, asking good questions and listening to what they have to say.
• Figuring out what it takes to be a good employee and how to motivate and manage others.
• Learning what works and what doesn’t work in the real world.
• Putting yourself out there so you’re aware of opportunities and maybe even create your own luck.
• Understanding that it’s all completely and entirely up to you – nobody else can do it for you and nobody is holding you back, either.
• Having your priorities straight, the work ethic to always get the job done, and the discipline to focus on what matters and not on what doesn’t. 

It always comes down to the same thing. Doing what matters. That’s exactly how world-class companies like GE and P&G breed hundreds, if not thousands, of entrepreneurs who found tomorrow’s startups and CEOs that turn good companies into great ones: on-the-job experience.

Now I’ll tell you what doesn’t matter. What doesn’t matter is what everyone else says and does. That’s right; none of it matters. Not a word. Of course, the exception is the people you come across in your real-world experience. If you get out in the world and do things, you will inevitably meet and learn from thousands of people. That’s 99 percent of the wisdom you’ll need. No kidding.  

Here’s another way to look at it. Let’s talk about spheres of influence. The popular wisdom of the day is that everyone should have these enormous spheres of communication and social networks, the bigger the better.

Popular wisdom is wrong and I’ll tell you why.

Social networking – tweeting, posting, linking, blogging, too – is what I call “one-to-many” communication. The level of interaction and quality of communication is lousy because a billion people are all doing the same thing so nobody has the bandwidth to read but a tiny fraction of what shows up in their stream.

That’s why the vast majority of online interaction is a complete waste of time. Everything you post just bounces around the Web and nothing ever really comes of it. Nothing that matters, anyway. It’s like throwing a bucket of water into the ocean. Sure, there’s more water in the ocean now, but so what?  

Also, whatever you learn online is visible to everyone so it provides no competitive advantage whatsoever.

The way to be successful is to keep your sphere of influence small and focused. How small and focused? That depends. Mark Zuckerberg and Bill Gates wrote code. Richard Branson sold records. Their spheres were relatively small and extremely focused in the early days of their careers while they were building their businesses. Then they grew in time. That’s usually how it works.

It basically comes down to this: You do want to broaden your sphere but you want to broaden it by doing what matters, not by wasting your time on what doesn’t matter.

Not only does reading about rich people’s habits not matter, the same is true of the vast majority of what you do online. And if they wasted their time with all that stuff, wealthy people would never have become wealthy to begin with. The only thing successful people do that matters is focus on doing what matters. Simple as that. 

From Entrepreneur

7 Ways Entrepreneurs Can Master Self-Awareness

The first steps toward true success are always inward. Successful entrepreneurs know how to master who they and harness their inner power, instincts and intuition.

Knowing themselves with clarity leads them to the right deals and business ventures. If they do not have acute self-awareness, they will come up against the counterforce of out-of-control emotions, leading to their downfall. With self-awareness, it's possible to better predict the power relationships necessary for success. 

1. Being inwardly directed.  

Successful leaders are inwardly motivated by a drive or force that propels and motivates them to work hard to master their skills. This inner force is not unique to the profoundly successful. Everyone has this capability and each person has something distinctive to offer since no one is a repeatable phenomenon in this universe. 

This inner direction is what guides successful entrepreneurs toward attaining their goals because they are driven to express who they are through their work. Each individual has a personal legend to live and leave. Going inward is their first place to tap. This inner direction grants people the ability to know themselves well enough to master who they are and how they make decisions. 

2. Learning the ropes.  

In any novel situation in business, an entrepreneur must learn the ropes. Skilled leaders are not afraid to start at the beginning because the more they know the bottom-line mechanics of a business, the more successful their ventures will be over the long term. 

The average person tends to enter new deals with a lot of excitement initially and then lose his or her drive after emotions such as boredom, impatience, fear or confusion gain sway. Successful entrepreneurs master these emotions, follow the lead of others, learn the rules and observe how things fit together.

Through this process, they develop the confidence needed to master their destiny. They are humble and know that with practice comes fluency. 

To be successful, take this same path and be humble so as to learn the ropes. This is how to move from a follower to a leader of a business. 

3. Demonstrating emotional control. 

Great leaders have mastery over the inner world of their emotions. They are sharp about knowing when to use their emotions to push for power and attainment and when to pull back and use self-control to get what they want.

Successful entrepreneurs do not let fear or anger take over and control their decision-making capabilities. Fear and anger make it difficult to reach mastery as these emotions disconnect people from rational thought. And rational thought keeps someone in touch with the whole battlefield, creating the space for good decision making and propelling the leader beyond petty emotions toward success. Self-control is a necessary ingredient for driving success.  

4. Taking risks. 

Accomplished leaders understand that self-awareness brings a sense of certainty in tough decision-making situations. This self-awareness enables them to make quicker and more efficient assessments in tough moments.

Their self-knowledge clears space so they can cut through the confusion, making their commitment to decisions more fluid. Successful leaders use observation and learning to become experts at knowing patterns of business and behavior, enabling them to take more risk with less loss.  

5. Showing patience. 

Accomplished entrepreneurs have the maturity and experience to have patience. Sometimes closing certain deals requires a combination of strategy, realigning, striking out, losing and going back to the drawing board to start again. 

Patience helps leaders look beyond what's before them and wait as the chips fall into place without lashing out impulsively in a negative way and destroying the opportunity. Leading successfully sometimes means doing by not doing and seeing that it all gets done.

6. Cultivating wisdom.

Learning to master the inner world of reactions is what drives proficient leaders to make sound decisions, learn from their mistakes and not quit. Wisdom comes from being willing to lose little battles to win the war. There's no way to succeed without first having the ability to manage the inner world of reactions, fear and complacency.

With wisdom comes persistence and proficient leaders recognize this as the key to success. When others give up, they keep going. Persistence generates success inwardly and outwardly in the world of observable results. Having this wisdom keeps leaders on the continual climb to the top.

7. Exhibiting curiosity. 

Leaders are usually not satisfied with only a certain level of success. Once one level has been secured and mastered, an inner tug calls for checking out what's at the next level. This pull is driven by an emotional force of curiosity and desire.

It involves a curiosity to see how much more can be created and achieved. Curiosity stimulates personal growth. When the desire to succeed arises out of this curiosity, then success has no limits. A lack of curiosity leads to contentment with what is. Great leaders are never content. 

All people can be masters of their destiny. The counterforce that each desiring entrepreneur has to master is his or her reactive inner world. Great results come from the matrix of managing when to push and when to back off.

This means having self-knowledge. Stay curious in terms of career. Curiosity inspires creativity and creativity is where all new ideas stem from. This is how leaders become mavericks. They pay no attention to fitting in. They know that their success often comes at the expense of not belonging. Belonging isn’t their concern. Succeeding, expanding and creating are their concerns.

From Entrepreneur