How to Survive and Prosper as an Entrepreneur

Posted: 30th September 2015 12:57

Being on the cutting edge of business is no easy task, not least because often that edge can cut you.  Business is an inherently risky activity—most new businesses fail within the first year—and entrepreneurs instinctively take bigger risks.

Even so, true entrepreneurs are more likely to succeed than others who get into business, for the simple reason that they are not overly conservative risk avoiders.  I'm talking about people likeReuben Singh, who jumped straight into business at the age of 17 simply because he saw an opportunity around him that wasn't being adequately catered for.

This kind of progressive, risk-taking attitude can pay handsomely, but it's not for everyone.  Being an entrepreneur is subtly different from being a gambler.  Whereas gamblers are primarily backing others and looking for success through vicarious means, entrepreneurs are backing their own ability.

Sometimes they can't do it alone, and they need to attract help from angel investors, which is a huge responsibility.  The is another factor that separates entrepreneurship from gambling, because there is a great deal of planning involved, and this planning is not based upon form, but upon vision.

The mark of the true entrepreneur is the ability to see what others do not.  I don't mean this in terms of being psychic or having magical powers, but it's an ability to see things in a very clear way, to recognise opportunity and to envision the way to gain from that opportunity in a profitable way.

After developing the vision and researching a plan, then comes the far more difficult step of executing the plan.  If the plan is well developed, this should not typically be a problem, but there is always the chance that reality can take some time to catch up with expectations.

A good entrepreneur can adapt to situations as they unfold, and never loses sight of the plan.  This means you commit fully to achieving your long-term objective.

There is no "Plan B", just a really good "Plan A" and the ability to be flexible in how you carry it out to meet short-term disruptions to flow.  All problems you encounter, if your original plan was solid and properly researched, are temporary.  Otherwise if they turn out not to be so, it means your research was flawed.

Like most successful entrepreneurs, Reuben Singh now devotes a significant amount of time to helping others find their way in the world of business and entrepreneurship.  For example, he was a keynote speaker at the 2015 Business Networking Show (TBN), where the audience gave a standing ovation for the inspirational and highly educational speech he delivered.

He is also the CEO of Isher Capital, a venture capital business that provides capital to businesses that have a good chance of succeeding.  Doing business with Isher Capital is a sensible option because Singh has travelled the path already, so he knows what you're going to face along the way.  To me, this makes more sense than dealing with stuffy formal banks that are completely out of touch with the reality of small business.