What are the 7 keys in entrepreneurship?

Entrepreneurship is an incredibly exciting and challenging path. You're constantly learning, growing, and creating something from nothing. But as a beginner in the world of entrepreneurship, there are some common questions that you may have about exactly how to get started. We've put together this list of seven key steps for your journey as an entrepreneur.

  1. Be a Problem Solver
  2. Understand Your Passions and Motivations
  3. Move Beyond Fear
  4. Embrace Uncertainty
  5. Ask for Help, Hire Smart
  6. Take Accountability
  7. Learn From Failure
  8. Takeaway:
  9. Conclusion:

Be a Problem Solver

  • Be a problem solver
  • Set goals before you start
  • Don't worry about what other people's goals are

Now that we've established that being an entrepreneur isn't easy, it's important to also realize that there is no one-size-fits-all solution for success. If your goal is to become a successful entrepreneur by selling your company for $100 million, then congratulations on your success! But if this was just a dream of yours and nothing more than an aspiration at this point in time—no matter how much money you have or how well-funded your business might be—then it's going to take longer than three or six months (or whatever period of time anyone else has set as their goal). You need something tangible (e.g., fitness goals) so that when everything else fails around them during their journey through entrepreneurship hell(s), you still have some type of positive outcome on which you can ride out their journey with hope intact.*

Understand Your Passions and Motivations

What are the 7 keys in entrepreneurship?

The best way to understand your passions and motivations is by asking yourself these questions:

  • What do I love doing?
  • How can I use my skills to make a difference in the world?

The answers will help you figure out what type of business might be right for you.

The second step is to figure out how your business can make money. There are two ways to do this: 1) Find a niche that needs your product or service; or 2) Develop a product or service that you think people will want.

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The third step is to start planning your business. You’ll need a good idea of what it will take to start and run your business, including equipment, supplies, and startup costs.

Move Beyond Fear

Fear is a natural part of life. It's how we react to things like danger, loss, and failure that helps us survive. But it can also paralyze you if you allow too much control over your actions.

Fear is not a good motivator—it doesn't help you make decisions or take action in any way (remember how I earlier said that fear can keep people from moving forward?). Instead of letting fear hold you back from achieving success, use these seven keys as tools for overcoming it:

  1. Face your fears head-on. 2. Understand that fear is a normal part of life; it is not something to be ashamed of or embarrassed by. 3. Acknowledge that while you cannot control every situation in your life, it is possible to manage how you react to them—and this is where your real power lies!

Embrace Uncertainty

When you hear the words “uncertainty and risk”, it can be frightening. The thought of failure and loss are two of the most common fears entrepreneurs face when they start their companies. But this is all part of entrepreneurship! It's something you have to embrace if you want your business to succeed in today's market conditions—and it's not something that should scare or paralyze you because it means there are opportunities for growth and learning in every situation that comes your way as an entrepreneur or business owner.

Do you know what else happens when we accept uncertainty? We find solutions! Your job is not just about creating something new; it's also finding ways around problems so that everyone who needs them can use what they've created without feeling like they're sacrificing anything at all (even if there were times when things didn't go as planned).

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Ask for Help, Hire Smart

As you think about what your business needs, it’s important to ask for help from people who are smarter than you. When hiring for a job at a startup company, don’t just hire the person with the most experience in the field; instead, look for someone who shares your passion and motivation.

It's also important to hire people who are better than yourself at doing whatever task they take on. An entrepreneur might have great ideas but not be able to execute them as well as someone else would be able to—so being able to delegate tasks allows more time for building up your business rather than filling out boring tasks that aren't helping anything at all!

Take Accountability

You have to take accountability for your actions, and you have to be willing to ask for help. You should never blame others if something goes wrong because it's not their fault—it's yours!

You also need to be accountable in business by being thorough with your goals. Don't just set up a business plan on paper or in Google Drive (or whatever). Take time out of your day and actually do some research into what other businesses in that industry are doing so that you can figure out how best to position yourself against them in the marketplace.

Learn From Failure

As a successful entrepreneur, you will inevitably fail at some point. This is normal and expected, but it's also an opportunity to learn from your failures. You can use them as a way to improve your business or build on the lessons that were learned from those failures.

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In order for us to grow and become better entrepreneurs, we need to start failing in order for us to succeed later on down the road. If you don't fail then how do we know what works? If there weren't any failures then how would anyone ever learn anything new? If everyone just kept doing things over again every time something went wrong with their products or services wouldn't anyone ever get anywhere anyway?


In the end, what you want to take away from this article is that entrepreneurship is a journey. You can't just go out and start your own business without having a plan and without knowing how long it will take to get there. If you are interested in starting your own business as an entrepreneur or if you want to become more knowledgeable about entrepreneurship, then we hope this article has helped! Thank you for reading!


What are the 7 keys in entrepreneurship?

The idea that to be successful in business you must know the perfect formula for success is a fallacy. There are no keys, or silver bullets when it comes to properly start and growing a successful business. This is not to say however that there are no guidelines to follow. We've identified seven essential keys to starting and growing your successful business, but ultimately these keys vary based on the entrepreneur and the venture they undertake.

The seven keys to entrepreneurship are not the same for everyone. They are dependent on your motivations and passions, as well as your ability to embrace uncertainty. But if you can find what’s right for you in these seven tips, then your business will surely flourish!

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