The 27 Irrefutable Laws Of Entrepreneurship

Image: Wikimedia

By: Tito Phillips, Jnr – AfricanBrains

Prior to starting up your own business as a self employed professional, you were probably an employee being paid to dispense your technical skills for an agreed fee.

Now that you are in business for yourself, the first skill you must possess to not just succeed, but to also survive before success comes is entrepreneurship.

In my experience as a business owner and business developer, the greatest obstacle for many start-up self employed business owners is the employee mindset. You see the gap and reality of being an employee and that of an entrepreneur is not just different, but entirely opposite.

Below are a couple of the opposite realities of being an employee VS being an entrepreneur

EMPLOYEE:-

Get paid to work for a fee

– Being managed

– Has a specified closing time

– Develops only himself or herself

– Limited contribution required

ENTERPRENEUR:-

– Pays others to work and works for free

– Manage others

– Has no specified closing time

– Develops himself + everyone else

– Unlimited contribution required

The list is endless, but the main point of this analysis is this, entrepreneurship is a whole different ball game from employment which will require a totally opposite mindset of its own. In other words, to succeed as an entrepreneur you must stop thinking as an employee and start thinking as an entrepreneur.

To develop your entrepreneurial skills, here are 27 irrefutable laws you need to follow;

Laws

Description

  1. Purpose
A greater reason beyond survival for living
  1. 2.      Service
For service to many leads to greatness
  1. 3.      Character
A life worth emulating
  1. 4.      Knowledge
To do more, learn More
  1. 5.      Generosity
Giving more in kind than you receive in cash
  1. 6.      Risk
Only those who dare the unusual [extra-ordinary] achieve the unusual [extra-ordinary]
  1. 7.      Technology
Doing More with Less
  1. 8.      Vision
Think BIG, Start Small
  1. 9.      Result
It’s not what you do [efforts],it’s what you achieve [results]
  1. 10.  Self-Confidence
If you don’t believe in yourself, no one else will
  1. 11.  Teamwork
Business is a team sport and only the team with the best players win
  1. 12.  Creativity
The capacity to  bring to life that which never existed
  1. 13.  Networking
Who you know matters more than what you
  1. 14.  Focus
Your BEST can only come from your areas of strength
  1. 15.  Leadership
Your success is dependent on your capacity to inspire the trust and commitment of others
  1. 16.  Strategy
Winning in business is NOT by chance
  1. 17.  Management
No business can successfully function without a defined mode of operation
  1. 18.  Profitability
You will only GET as much as you can GIVE
  1. 19.  Passion
If you enjoy doing it for FREE, business is about doing it for a FEE
  1. 20.  Marketing
You will only go as far as your message goes
  1. 21.  Scalability
It is not yet a company if it still depends on YOU for survival
  1. 22.  Branding
If you don’t STAND for something, you will FALL for anything
  1. 23.  Thinking
Every problem solved is a step closer to success
  1. 24.  Perseverance
Every seed takes time to grow into a tree, so does your business
  1. 25.  Innovation
The more unusual things you do, the more valuable your company becomes
  1. 26.  Leverage
At some point, your business will need external funding
  1. 27.  Legacy
What will the world miss if your business no longer exists?

Your turn

As with every list, this is not the end. There are a million and one more items that can be added to this list. Being a smart student of business, I trust that you will not take this as a final list but rather as a work in progress. So, I’m really looking forward to your addition to this list in the comment section at the bottom of this page.

Thank you for your time! Now over to the comments ….