Five Principles of Successful Entrepreneurs

   By Barbara Elliott, Contributor to PhDify

For most people, beginning their way after finishing the university is an extremely difficult thing. They have already received the degree, they could have the best grades and the most experienced instructors, but they meet lots of difficulties anyway. Some practical skills couldn’t be provided by classes in the university, textbooks, or dissertation writing service. Those skills should be taken from the real life.

Starting your own business is one of the challenging tasks for those who yesterday were students. If you are getting in this way, you should make a strict plan and follow it without any distraction. Study these five principles that will help you to stand invincible on the path that leads to success.

1. Create a strategy.

Making a strategy is not a simple task because it requires lots of your efforts, time, and energy, but it is important to do this step. You must have the lighthouse in front of you, the guide that will show you where to go further and what step should be the next. As a successful entrepreneur, you couldn’t go just where the stream leads. You must distinguish the aims, state the goal, and picture the reliable result. Doing so, you will have the plan and will be able to cope with unexpected situations.

Your strategy does not only serve as a focus for the business but also makes your company original and different from the list of others. You couldn’t persuade anybody to follow you when you do not know where you are going.

You can have an illusionary opinion that your success depends on the rapidity of your work. However, the fastness of your process does not guarantee the success of your business. The key is not in the speed but the quality and deliberateness of your efforts. The clearness of your focus is the warrant of your triumph.

2. Entrepreneurship is teamwork.

The most common mistake made by those who start their own business is relying only on their own knowledge and efforts. They do not take into consideration the fact that entrepreneurship is a common job and could not exist provided by only one individual. It is not about excellent ideas of individual people but hard, determined work of the well-built team.

It is often a difficult step to do as everybody wants to receive the right estimate of their efforts. You may be proud of your excellent idea, but you should never forget that you can’t give it life by yourself. You need a team of hardworking workers, and if you are working together, the success could not belong only to you. It belongs to each member of the crew.

3. Seek the appropriate knowledge

To start the business, you should gain knowledge of the basic principles of it. You could not be led only by your ideas; you should be aware of all the aspects that are connected with the sphere of your business. Be confident that you understand the information that is fundamental and accurate. Misunderstanding important aspects may lead to unexpected ruin rather than your success.

Knowledge is what you need to obtain before you decide to take any action. It is the base for your strategy and plan so you should pay great attention. Do not forget that the way to becoming perfect is by constantly improving yourself. As soon as you start thinking you have enough knowledge, you stop your improvement and bettering. For this reason, keep examining new information about the product, the tendencies in business, and about people.

4. Appreciate your employees

You have already learned that teamwork is leading to the triumph. However, you must not forget that the atmosphere inside the team has a great influence on the global success. Your employees are not just workers who systematically receive their payments and do their jobs without enthusiasm. They are an important part of all the system of your company business, and they must feel their importance. Your task is to treat everyone in an appropriate way for them to work with all their efforts and willingness.

To create such an atmosphere, you should have highly developed organizational skills. If you want someone to follow you, it is necessary to become a deserving leader who is able to coordinate his work and the process of company business. By the way, your aim is to receive the mutual respect from your workers, not fear. To achieve this, you must keep in mind that to respect your employees is a principle.

5. Be honest

Honesty is the treat of character that plays an important role in any relationship, especially in business ones. It relates first of all to you yourself. You must learn to name every single thing. You must always give an adequate estimation of your achievements and mistakes. It is the rule that is important to use in any sphere of the life – if there is a problem, you should accept it, learn the lesson, and find the way to solve it. You shouldn’t ignore it because if you do so, you will never meet the true success.


Barbara Elliott is well-experienced writer and blogger at She knows a lot about staff development, job searching and human resources management. Also Barbara enjoy Design and Photography.

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