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What’s behind the success of an online entrepreneur? People differ in their responses every time! While some may feel it is just a matter of luck, others feel it is about the product or the marketing strategy. The whole thing actually hinges on how you define success when you are talking about an online business. Here are the top ten things that makes an online entrepreneur stand out.
Successful entrepreneurs are always willing to learn new things about their field. They are on the lookout for new knowledge and are willing to learn new things every day. Think Larry Page and Sergey Brin of Google. They never started out as businessmen who were on the lookout for some quick bucks. They started out as hackers who were simply trying to build the best search engine in the world. They had no clue about the gigantic implications of their work. They invested huge amounts of money and patience only driven by their quest for what they wanted. Of course, success would follow people like that!
Right minded people know that success does not come overnight. So, when the going gets tough these tough guys get going! They are determined to attain success, no matter what the obstacles. Think Steve Jobs of Apple, NeXt and Pixar. Nothing compares to the utter distress you feel when you are ousted from the company you founded! However, this man did not stay down in the dumps for long. He started two new ventures and eventually rescued the concern he was ousted from.
Successful entrepreneurs can focus steadily on the core functions of their business. They are not distracted by less important aspects of their business – they stay focused on the service that their business provides to customers. Think Max Levchin of PayPal in the initial stages. He concentrated on increasing security as it is the main issue in a business where money transfer is involved. The point is that you need to confront problems head on but not be distracted by them, away from the service you’re providing.
No business man has ever been successful without some level of ambition. Perseverance is what sets these people apart. These people are not completely happy with whatever little success they achieve. They are driven by a tremendous amount of ambition. Think Jeff Bezos of Amazon.com. The wide focus of amazon.com caused some initial hiccups but it sailed through and became one of the most successful companies in later years.
When you are starting off an internet business, you need to accept that you will have to face challenges you never even thought of before. If you aren’t flexible about the newest technologies emerging you can lead yourself to obscurity anytime! Even a good start might not be good enough if you don’t adapt to new challenges and technologies. This is simply too important when you are dealing with a business online. Think Orkut and MySpace but in a negative manner! Faced with the onslaught from Facebook, these giants failed to cash in on new technologies and emerging needs and lost out on a chunk of the market. This led to the eventual surrender of MySpace to the Social media giant, Facebook!
Successful people put in lots of time to make sure that there project doesn’t turn unsuccessful. You’ll come across hordes of stories where people have made it big overnight. Nobody highlights the mass majority people who had to struggle on a daily basis to get to the peak. Think any successful blogger who’s been working out there for any least 5-7 years before the blogs have taken off. Think Darren Rowse!
I’m not talking about how hard you party! It’s about creating and maintaining new contacts regularly. Communication and networking are the two pillars of any internet business. Think Mark Zuckerberg, the youngest billionaire in the world not very socially adept but extremely communicative virtually! The company he and a couple of friends co-founded as college students in 2004 became the giant Facebook later on.
“Keep it simple, stupid” – you must have heard this adage countless times. It still holds true where internet businesses are concerned. Think Chad Hurley, Jawed Karim and Steve Chen of You Tube. It contributed to the creation of a simple site that did nothing else other than help people upload videos of their choice online. Like I told you before – simplicity sells!
Avoiding unnecessary expense is key to success in any business and it holds true for internet businesses also. Think Aaron Patzer of Mint.com. It functioned simply and only got outside investment when it was ready to expand!
Successful online entrepreneurs rarely act like general people! Their eccentricity sets them apart! Think Timothy Ferriss of “The 4-Hour Workweek” fame. He advocated a completely new work culture and became famous almost overnight. Successful online entrepreneurs are not one among the masses. They imbibe some of the simplest of human qualities to reach super human heights!