With the increasing number of young people initiating to embark on their own project endeavors, in a blog Martin Lloyd Sanders says that even though hundreds of thousands of young group are found in business, but a very low percentage of them become successful. According to the writer that apart from choosing an ideal business area that is flourishing and has high market potential, he/she who has attitude to take challenges, vision power and ability to critical thinking likely to be successful in their business.
Entrepreneurship is similar to gambling and their chances of becoming flourishing businessperson increase if they have the right cards in their pocket and place the same on board at appropriate time. Martin Lloyd Sanders considers that taking correct decision is of prime importance that reduces the chances of failure in their venture. To order to thrive in professional business world they must have high tolerance and courage to take right decision at the right time. The top skills to become successful in business arena are as follows:
Ability to Focus- A Key Feature of Martin Lloyd Sanders to Achieve Success in Business
Long-term anticipation and apprehension is necessary to know how to focus on the next activities to get nearer to the ultimate goal. There are so much distracting and ambiguity persists while trying to build a business, however, with high anticipation skill they become successful in their future endeavors.
To become successful, entrepreneurs are required to be good learner and should realize that there are so many things to know to excel in the competitive market, which is also continually changing. They should get acquainted with the new systems, technology, and industrial trends.
The ability to withstand ups-and-downs of any business is vital since it never goes exactly the same path as the business plan is organized. This skill enables the entrepreneur to keep moving when the outlook is hazy or uncertain.
Entrepreneurs must be patient and focused on the issues coming immediately, rather than where the company needs to go in future. Overnight success should not be expected and success may come in long run whereas one should be very much focused to do the things in right manner.
Only by best man management and leveraging employees, business vendors and other resources will an industrialist can build a sustainable company. They need to learn to form a network to meet the right people.
Every entrepreneur should think himself as a salesperson whichever the position he/she holds. The whole idea is to market his intelligence no matter whether it is product selection, an endeavor like merger or acquisition. They are always selling their ideas, products, or services to customers, investors, or employees.
Ability to proceed as per economy
Consider economy as an evident rule of business world that encounters recession period as well as boom. Therefore, one can consider him as a professional if he has the ability to take full advantage of boom period and stick to the right policies to sustain in downturn time. They must be respectful not only to their stakeholders, shareholders but employees too.