5 Things Every Entrepreneur Needs To Be Successful

Here’s what today’s go-getters need to know to create a lasting impact in 2016 and beyond

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You probably know from some of the most famous business people in history that entrepreneurs are go-getters. No one progresses in business by sitting back and waiting for an opportunity to find them. Successful people go out into the world and invoke change through their actions throughout their lifetimes.

[Related: 5 Characteristics of Successful Entrepreneurs]

Entrepreneurs are people who enjoy challenges and will work tirelessly to solve problems of the world around them through their business ventures. They adapt well to changing situations without unraveling and know how to motivate a team to follow their visionary lead.

Successful entrepreneurs are driven by a clear-cut vision or goal than simply the task at hand and are able to think on a more universal level in that regard. They are also often very passionate about their ideas, which further drives them toward achieving their ultimate goals. There’s a definite business swag and work ethic that distinguishes “the best” from the rest. Which category do you fit in? When you understand what you are made of, you have the clarity and focus it takes to bring your vision to life and your business idea to market.

What should every entrepreneur have in his or her arsenal in order to guarantee success? Alex McKelvie, professor of Entrepreneurship at MBA@Syracuse, offers the following five key points today’s go-getters need to know to create a lasting impact in 2016 and beyond.

One. Entrepreneurship Requires Resilience. There are going to be many ups and downs. Thick skin will be necessary to stay the course and achieve your goals. Successful entrepreneurs are risk takers who have all gotten over one very significant hurdle and they are not afraid of failure.

Two. Entrepreneurship is Not a One-Size-Fits-All Gig. Don’t count out the mompreneurs, millennials, or even teenaged aspiring business leaders. Entrepreneurs come from all ages and backgrounds. The Kauffman Foundation created a website, www.willitbeyou.com, to direct individuals to the resources and programs most appropriate for the stage of their companies.

Three. Legislation Can Make or Break Your Business. Stay abreast of regulatory, labor, and tax laws that impact small businesses. Legislation like the JOBS Act equity crowdfunding component is making it easier to find different kinds of money to grow businesses.

Four. Entrepreneurial Skills Can Be Improved with Learning. Universities are finally getting entrepreneurship and have created robust programs for mentoring, as well as access to capital, for helping you start your business.

Five. Entrepreneurship is No Longer a One-Man Show. Entrepreneurship doesn’t mean you need to start your own company. A number of big companies are looking for entrepreneurial talent to bring onto their teams and push the envelope. Besides being an intrapreneur can help when you are ready to fly solo.