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Tips - May 9, 2022

4 Stages Entrepreneurs Go Through to be Great

Everything happens in phases throughout life. Just as babies go through different stages of growth, entrepreneurs are not left out. 

Entrepreneurs experience challenges that either improve them or cause the business to fail. While some face greater challenges than others, the fact is that every successful entrepreneur passes through the same stages to be successful.

Here are some of the stages entrepreneurs pass through to be great.

Imitating

People learn through watching and imitating others. For instance, babies learn physical abilities like walking and talking and practice social skills by observing and imitating others.

This holds true in the corporate sector as well. To be a great entrepreneur, you must observe the business you want to start, learn it and imitate it by being innovative.

The truth is that no business idea is genuinely novel unless it is a blue ocean concept; people are just inventive. Therefore, be inventive while imitating. Being inventive will offer you an advantage over your competitors in that field.

Self-Discovery

Every business has a waterloo, and you will encounter some in this stage. It is normal as you are still adjusting to your new business environment and relating to some strange concepts. Here, you will get your share of mistakes.

Remember, failure and taking calculated risks are part of building a good business. Just as toddlers stumble when imitating people and things around, they learn, stand and get strong.

The same thing applies to you. After mimicking the business you want, you will be faced with taking different decisions.

You will experiment with several business ideas in which some will succeed while others will fail. You will learn and discover yourself and your business through your failures and successes.

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Commitment

This is the point at which you fully commit to your business. From your self-discovery, you now understand your boundaries and limitations. Your experience has strengthened and made you more focused. It is thus time to leave your mark on the world.

You eliminate time-consuming activities and replace them with good, realistic business ambitions. You double down on what you’re good at and what will benefit you the most.

Legacy

Some of today’s most famous people have produced legacies that will last for many years through hard work and unwavering devotion. They invested in something meaningful.

They put in long hours and earned everything through their perseverance. Instead of giving up, they created something that would outlive them.

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