6 Entrepreneurial Traits Penned Down by Billionaire Entrepreneur

 Reeta
  Apr 08, 2017

Mark Cuban is an American entrepreneur, author, philanthropist, investor and television personality. He is the proud owner of NBA’s Dallas Mavericks, main shark on ABC’s Shark Tank, chairman of the AXS TV, co-owner of Entertainment and author of the e-book How to Win at the Sports of Business.

He states that there are no shortcuts in any business i.e. if an individual aspires to be successful in his venture, the following are the head-points which he/ she needs to know and consider before taking steps towards the path of success:

  1. What is the secret of selling?

He states that an entrepreneur should know how to sell. Selling simply means being able to convey why the product or service will make things better. It should not be about convincing the consumer, rather it should be about helping the consumers.

  1. Be the consumer you want to sell to

If the entrepreneur puts the consumer in a position to succeed, he/ she can succeed too. He/ she needs to understand the demands, needs and desires of the consumer and the companies they work for because every person and industry is different. Many things can be achieved by investing a considerable amount of time to understand the various industries, roles, businesses and what works & what does not.

Learning is a never-ending process which explains that if the entrepreneur does not understand how the people or the companies can benefit from the offered product or service, then he/ she cannot be successful because entrepreneurship focuses on helping the world and not just earning profits.

Technology is innovation

Change is constant and technology changes every day, which makes it so interesting. The inventor knows the most about his tech and you, as an individual, only knows what is presented to you. The launch date of any tech gives as much knowledge to you as to the next person. The curiosity and eagerness to learn allows you to know more about the tech and its benefits than the individual next to you. Knowledge about new technology allow entrepreneurs to have a better position to attract the consumers by determining the benefits of the new tech, allowing change/ modification to it and offering it back to the world. Where there is change, there is an opportunity. Figure out soon or get left behind!

How to design a solution when there is no solution?

More than 99% of the business activities are being practiced only because that is the way it has always been practiced. Rarely happens that individuals re-imagine how things should be done. This is what differentiates the successful entrepreneurs from the aspiring ones. Every situation needs to be analyzed with the knowledge of business or the current situation and a solution needs to be derived out, whether it is eating at a restaurant or buying a deck of cards; it all entails a problem that needs to be solved. The path to innovation is not when an entrepreneur asks his consumer about what they want, it leads to success when the entrepreneur envisions it and shows his consumers what they actually need.

Invent what makes the world a better place

Doing what you are good at is not always the perfect thing for the business. If what an entrepreneur does, does not make anyone’s life better or easier. People often confuse what they love to do with what other people want.

Always be nice

Jerks are never entertained. Ego, bad attitude and other similar negative traits are never appreciated by people. Always be nice to succeed because people tend to get attracted to polite entrepreneurs rather than rude jerks.

Success is Earned and not Bought

Mark Cuban rightly says that no one can buy success. It is something which is earned from hardwork, dedication and perseverance. There are entrepreneurs in every industry like Bill Gates, Dr Vinay Rawlani, Sachin Bansal, Jeff Besos and hundreds of more individuals who grabbed the right opportunities at the right time.

6 Entrepreneurial Traits Penned Down by Billionaire Entrepreneur

Reeta

I have been a writer all my life. At age 12, i wrote my first poem and now i have a book being published

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