Being highly subjective, finding a consensual definition for success is hard. People relate with success in their own way. One way to define would be to assume successes to be times in life when you are happy with something you have achieved. We thrive to reach these points as these are the moments in life when our ideas are realized. Every entrepreneur is highly motivated towards achieving these success points. It is this motivation that makes them think out of the box and innovate. Thought means ideas arranged in a meaningful manner. Ideas come only when we think beyond the conventional way. Thinking isn’t always obvious or accurate but is rather vibrant and highly misleading. It is vital that we should be able to identify the best and authentic thoughts and convert them into actions. It is easier said than done. It is here when converting thoughts into actions that people struggle. To get on the action wagon, people seek for assurances. They have to be assured of success and its rewards and also be of a painless failure.
This is where entrepreneurs stand out. They can turn thoughts into immediate action. Instead of starting with a predetermined goal, they allow opportunities to emerge; instead of focusing on returns, they spend more time considering their acceptable loss; and instead of searching for perfect solutions, they look for ones that are good enough. Entrepreneurs don’t just “think different”. They translate that thinking into immediate action, often ignoring analysis. Rather than to try and predict the future, they create it. Decision making plays a key role when it comes to actions. They have the ability to be cognitively ambidextrous, engaging both prediction logic and creation logic, in their decision making approach.
To go beyond thoughts and actions every entrepreneur should possess these skills to sustain their businesses.
- Ability to think all the time, over the information received and perceived and to think differently and go beyond what has been done.
- Ability to wait for the right time, the right place, the right people and the right opportunity for moving ahead. Patience is critical.
- To not gloat on past success and to keep thinking differently to constantly innovate and develop the business beyond.
One has to be quite amenable to conclude that entrepreneurs need not look beyond their ideas and actions. In the current fast paced and ever changing world entrepreneurs should be constantly alert and vigilant towards changes. Beyond thinking and implementing they should constantly look for feedback and continue innovating to keep improving their business towards better sustainability and endurance.
[The article has been written by Issac Solomon. He is presently pursuing his PGDM from IIM Raipur]