If you’re reading this post, chances are that you’re successful to some degree. But we all know, or at least have observed, wildly successful entrepreneurs who skyrocket their businesses to the next, next, next, next level and beyond – a level you marvel at and admire.
What’s the difference between achievers and high achievers? How do some entrepreneurs escalate their businesses to the top when they don’t appear to be any more skilled than you?
Your expertise in whatever particular industry you’re involved in is probably not that different from the top achievers in your field. The difference lies in your mindset and your level of mastery of entrepreneurial fundamentals.
Below are four key characteristics of outrageously successful entrepreneurs. Spend time developing these tenets and your success will soar as well. (We’ll cover the first two in this post and the last two in a subsequent post.)
Four Characteristics of High Achievers
1. High achievers process and implement change at a very rapid pace.
If your company is going to succeed, you must be ready and willing to change constantly. Wildly successful entrepreneurs maintain a rhythm of constant change. Change works best when it is planned, so once these entrepreneurs decide the direction they want to take, they are bold enough to launch themselves headfirst into the new course.
Many other changes are unplanned, so as an entrepreneur, you must develop the ability to roll with the punches and adjust on the fly. Stay committed to your vision and plan, but be ready at any time to adapt based on circumstances, new developments, and especially when faced with adversity. Flexibility is an undervalued trait, but a fantastic way to demonstrate your willingness to do what’s necessary to push through to the next level.
Wildly successful entrepreneurs maintain a rhythm of constant change.
2. High achievers know how to manage risk effectively, so they’re not afraid to take risks.
In order to manage risk, you’ve got to take risks. Because high achievers are so accomplished at managing the possible effects of their actions, they are willing and able to take more risks than everybody else. Here’s a helpful grid through which you can view risk:
Calculate the best and worst possible results of the proposed course of action. The end results usually fall somewhere in between (i.e. the more-than-likely), but high achievers are quick to decide if they can tolerate the worst thing that could happen as a result of taking a particular risk.
If you decide you can tolerate a bad result and the more-than-likely scenario will help you achieve your goals, move ahead with the risk – the possible good outweighs the potential bad. If you can’t tolerate the worst case scenario and/or the more-than-likely scenario won’t move you closer to your goals, don’t take the chance – the reward from the risk is not great enough.
The more you practice this method, the more you will develop your sense for finding the appropriate risk versus return ratio.
Stay tuned for more on entrepreneurship later this month …
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