Top 10 Reasons for Entrepreneurial Success

Here is a list for Successful Businesses from the New York Times.
Did they miss any?
We’d love to hear your thoughts here or on Facebook.

  1. Look for opportunities to do something better than just about everyone else.
  2. Accept risk as a necessary evil. It makes for much less competition.
  3. Act responsibly to customers, employees and vendors.
  4. Goals aren’t enough. You need a plan. You need to execute the plan.
  5. You need to fix the plan as you go. Learn from your mistakes. Most people don’t.
  6. Do not reinvent the wheel. Learn from others — join a business group.
  7. Make sure the math works. I know plenty of people who work hard and follow their passion but the math doesn’t work. If the math doesn’t work, neither does the business.
  8. Make sure that every employee understands and works toward the mission.
  9. There are going to difficult times and you need to be resilient; whining is a waste of time.
  10. There will be sacrifices. Work to find a balance so that you don’t become a financially successful loser. It’s not about the income, it’s about the outcome.

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