Never consider the possibility of failure.

Ayn Rand, in her novel “The Fountainhead”, wrote, “It is not in the nature of man – nor of any living entity, to start out by giving up. ” As an entrepreneur, you need to fully believe in your goals, and that you can do it. Think that what you are doing will contribute to the betterment of your environment and your personal self. You should have a strong faith in your idea, your capabilities and yourself. You must believe beyond a shadow of a doubt that you have the ability to recognize and fulfill them. The more you can develop faith in your ability to achieve your goals, the more rapidly you can attain it. However, your confidence should be balanced with calculated risks that you need to take to achieve greater rewards. Successful entrepreneurs are those who analyze and minimize risk in the pursuit of profit. As they always say, “no guts, no glory.”

Plan accordingly.

You have a vision, and you have enough faith in yourself to believe that you can achieve your vision. But do you know how to get to your vision? To achieve your vision, you need to have concrete goals that will provide the stepping-stone towards your ultimate vision. Put your goals in writing; not doing so just makes them as intangible fantasies. You need to plan each day in such a way that your every action contributes to the attainment of your vision. Do you foresee yourself as the next Martha Stewart of hand-made home furnishings? Perhaps today, you need to see an artist to help you conceptualize the new line of hand-made linens that you hope to launch. Intense goal orientation is the characteristic of every successful entrepreneur. They have a vision, and they know how to get there. Your ability to set goals and make plans for your accomplishment is the skill required to succeed. Plan, plan and plan – because without it failure is guaranteed.

6. Work hard!

Every successful entrepreneur works hard, hard and hard. No one achieves success just by sitting and staring at the wall every single day. Brian Tracy puts it out this way, “You work eight hours per day for survival; everything over eight hours per day is for success.” Ask any successful businessperson and they will tell you immediately that they had to work more than 60 hours per week at the start of their businesses. Be prepared to say goodbye to after-office drinks every day, or a regular weekend get-away trip. If you are in a start-up phase, you will have to breathe, eat and drink your business until it can stand on its own. Working hard will be easy if you have a vision, clear goals, and are passionate with what you do.

Constantly Look for Ways to Network.

In business, you are judged by the company you keep – from your management team, board of directors, and strategic partners. Businesses always need assistance, more so small businesses. Maybe the lady you met in a trade association meeting can help you secure funding, or the gentleman at a conference can provide you with management advice. It is important to form alliances with people who can help you, and whom you can help in return. To succeed in business, you need to possess good networking skills and always be alert to opportunities to expand your contacts.

Willingness to Learn.

You do not need to be a MBA degree holder or PhD graduate to succeed in your own business. In fact, there are a lot of entrepreneurs who did not even finish secondary education. Studies show that most self-made millionaires have average intelligence. Nonetheless, these people reached their full potentials achieved their financial and personal goals in business because they are willing to learn. To succeed, you must be willing to ask questions, remain curious, interested and open to new knowledge. This willingness to learn becomes more crucial given the rapid changes in technologies and ways of doing business.

Persevere and have faith.

No one said that the road to success is easy. Despite your good intentions and hard work, sometimes you will fail. Some successful entrepreneurs suffered setbacks and resounding defeats, even bankruptcy, yet managed to quickly stand up to make it big in their fields. Your courage to persist in the face of adversity and ability to bounce back after a temporary disappointment will assure your success. You must learn to pick yourself up and start all over again. Your persistence is the measure of the belief in yourself. Remember, if you persevere, nothing can stop you.

Discipline yourself.

Thomas Huxley once said, “Do what you should do, when you should do it, whether you like it or not.” Self-discipline is the key to success. The strength of will to force yourself to pay the price of success – doing what others don’t like to do, going the extra mile, fighting and winning the lonely battle with yourself.

Ex.5. Find in the text equivalents to the following words and word-combinations:

Управлять бизнесом; зарабатывать на жизнь; иметь ясное представление; достигать (2); мысленно представлять (2); доход; банковский счет; начать дело; компетентный; задача; достигнуть успеха (2); иметь что-либо против; деятельность; сильная сторона; слабая сторона; усилия; бухгалтерский учет; сдаваться; вносить вклад; способности; уверенность; минимизировать риск; прибыль; вера в себя (2); предвидеть; запустить в производство; ставить цель; ориентированность на достижение цели; неудача; выживание; управленческая команда; совет директоров; стратегический партнер; безопасное финансирование; связь; обладать; способность заводить знакомства и связи; расширять контакты; желать; любопытный; решающий; потерпеть неудачу; терпеть спад; банкротство; преуспеть; собраться c силами; настойчивость; самодисциплина; ключ к успеху; сила воли; заставить себя.