Wanting to become an entrepreneur or an entrepreneur turns out to require various mature plans. There are entrepreneurial success factors that you must know.
The success factors of entrepreneurship are not limited to just money capital because entrepreneurship is a dynamic world that requires adaptation, innovation, and of course having an entrepreneurial attitude to improve and develop the business.
Not a few entrepreneurs who experience losses and meet failure only because of capital money. With abundant money is considered to be able to make the business run forward and succeed. In fact, the success factor of entrepreneurship is not only emphasized on capital money.
Knowledge About Entrepreneurship
The first aspect in the success factor of entrepreneurship is of course the knowledge or insight of entrepreneurs about entrepreneurship. According to the Great Dictionary of the Indonesian Language, entrepreneurs or self-employed are people who are clever or talented in recognizing new products, determining new production methods, arranging operations or procurement of new products, marketing them, and managing their operating capital.
With the above understanding, entrepreneurs mean they must have knowledge of business activities such as calculating cash, allocating capital, to marketing strategies. It would be better if entrepreneurs specifically know this knowledge in the business field they are currently running.
If you don’t have this first factor for entrepreneurial success, you or other entrepreneurs can usually work with people who are skilled in business or planning.
Once you have the knowledge, you need to apply it to the business you are running. Your entrepreneurial skills can develop as you run a business with the knowledge you have.
Self Starter and Commitment
Being an entrepreneur requires a proactive, passionate character and the ability to start something on your own. This pioneering spirit is an important part of being able to successfully start a business.
After starting a business, the next factor of entrepreneurial success needed is a commitment to be able to survive in the business world. It takes time to develop a business, so a commitment to struggle and continue to strive until success is achieved is very much needed.
Self Capacity
If you want to be an entrepreneur, choose one that is not far from the skills and talents you have. Don’t be too easily carried away and focus on something that is currently trending.
The success factor of entrepreneurship will be determined by your capacity in the business you are running. Don’t just follow the trend without understanding the field you are running. Choose a business field that is appropriate or not far from your skills and competencies.
Dare to Take Action
After having knowledge, the next factor of entrepreneurial success is daring to take action. You have to take action and not let your business just dwell on concepts.
The next factor of entrepreneurial success is daring to take risks. After taking action, you must also dare to take risks from the possibilities that will occur in your business in the future.
Maybe the business you are running is something new and not yet known to many people. However, when you still dare to take risks and run your business according to the concept that has been determined, your business can be widely known by the public.
Self-confident
Self-confidence is the next factor of entrepreneurial success. This factor is very much needed because you will build and run a business from scratch. Self-confidence can encourage you to keep trying and facing the problems that come.
Intelligence in Entrepreneurship
In the midst of the business journey that you are currently working on, there will definitely be obstacles or problems that will hinder you. Therefore, the next factor in entrepreneurial success is your intelligence in entrepreneurship.
You must be able to face the obstacles that arise, which requires intelligence in solving problems and finding solutions and making business decisions.
Creativity
Intelligence in entrepreneurship will be greatly helped if you have creativity. In addition to solving problems, creativity is needed as capital to face business competition.
This is a vital factor for entrepreneurial success because you must be able to innovate to achieve success. Creativity is needed to be different from competitors. Being different and unique has the potential to make your business grow.
Teamwork
The success factor of an entrepreneur is not only determined by the owner, but also all parties involved in the business. Including employees to business partners.
As a business owner, you must be able to create a positive ecosystem by prioritizing teamwork. The size of your business does not matter because teamwork will help your business grow.
Patience and Persistence
Patience and persistence are the next factors for entrepreneurial success. You are required to be patient in facing various problems that arise later. In addition, patience is needed to deal with consumers, clients, even for financial matters such as expenses.
Persistence has a similar form of patience in entrepreneurship. You must be able to face all kinds of conditions that occur such as a quiet business, not finding significant profits and a series of other things.
Persistence will make you strong in facing various problems and not easily give up. Because the success achieved must be accompanied by a series of problems. Persistence is also needed in developing a business, thinking creatively, and working harder.
Connection
In the professional and business world, connections are very important and crucial. Even this entrepreneurial success factor can be called a determinant of your business progress.
Connections with fellow entrepreneurs or clients, to friends are very beneficial for business. By having many connections, you have great potential to develop your business.
Effective Marketing
Good and effective marketing also affects the success of entrepreneurship. It takes strong and attractive marketing techniques to reach the market you want.
Therefore, make sure you have mastered marketing techniques when starting a business. Or if not, you must have reliable marketing staff to market and promote your business.
Starting a business is not as easy as turning the palm of your hand, it takes several success factors for entrepreneurs to develop your business. However, there are a number of examples of businessmen in Indonesia who have achieved success.
Among others, Hendy Setiono who founded Kebab Baba Rafi, there is also Achmad Zaky who is one of the founders of the BukaLapak marketplace. Both of these figures certainly experienced various problems before reaping success as they are now. Starting from overcoming problems and innovating, to never giving up developing their business.
If you have already made up your mind and intention to start a business, now is the time for you to choose the type of financing for your business at CIMB Niaga. There are various types of financing provided by CIMB Niaga to improve your business with productive financing.
You can choose from various offers such as Working Capital Financing which is a flexible financing facility to meet your short-term working capital needs. The benefits you can get from Working Capital Financing include helping to manage better cash flow and making it easier for you to organize routine or daily transactions.
There is also Supply Chain Financing which is the best financial solution for your business chain from upstream to downstream. The benefits you can get from this offer are helping to manage cash flow and liquidity and can increase your production capacity and business expansion