The 3 Critical Success Factors for Young Entrepreneurs
1. Being a Young Entrepreneur
(whether in age or to the field of Entrepreneurship)
there are 3 critical success factors.
I firmly believe that no matter how much money have, no matter how amazing your product
or service is, if you don’t have these 3 critical success factors intertwined into your plan of
action, you are at high risk of being one of the unfavorable statistics of failing as an
Entrepreneur in the first two years of your existence.
The 3 Critical Success Factors for Young Entrepreneurs
#1 Vision (Your Why)
The Most Important of the Critical Success Factors
Let’s start with a very blunt question. Why are you an Entrepreneur in the first place? Is your
answer “to make more money” or “to be able to do what I want to do when I want to do it!”
Trust me, I think these are great reasons, however, it is not a strong enough why. If your why
is not evident or strong, it is going to be hard to create a vision for you business and if you do
not have a for you business . . . Let’s just say the longest, best selling book in history states
“Without a Vision The People Parish.”
2. Ring a bell? Well my friend, before you figure out the next
greatest product and the next bullet proof Marketing plan, if
you do not have your vision which is fueled by your why, you
can kiss your Entrepreneurship Reign BYE BYE!!!
Here is a quick way to find your why. Get a friend or someone you trust. Have they ask you,
“why are you in business?” Once you answer the first time, have them follow up with the
question “Why?” Have them continue to ask that question until you hit a point where you
seem like you will almost go blank and you are just left with one strong “Why.” It may be to
help others succeed in their business. It may be to end poverty. It may be to bring peace back
to families. The beautiful thing about this is you get to say.
When it comes to the 3 Critical Success Factors, this is #1 because unless you are
clear about this one, the rest of your work will be in vain and will have you give up easily.
Which is a perfect segue to . . .
#2 Persistence & Statistics
Ok, so it may seem a bit odd putting Persistence & Statistics together and not making this two
separate critical success factors. There is a method to the madness.
First of all, you all, when it comes to being an Entrepreneur, you have to have that what I call
the “Thomas Edison Syndrome.” What do I mean by that? If it takes you 10,000 tries to be
successful, you must stay persistent with you.
Robert Kiyosaki says it best F.O.C.U.S.
Your persistence as an Entrepreneur is going to be key
to really fulfilling on your Vision and Why. Truthfully,
it baffles me how many new and young entrepreneurs
say “well I tried it for 2 weeks and I have not seen any
results! I quit!”
Are you freaking kidding me! When it comes to critical
3. success factors, this one is undeniable. Stay the course until you get what you want.
Now, here is where the statistics part of it comes in. If you stay persistent and you are not
keeping track of your test, trials, successes, defeats and results, you run the risk of being
successful and not knowing how you got there. Now this is not a problem that you arrived at
success, until you lose it all.
If you have not kept up with your statistics (which by the way the more persistent you are the
more statistics you will have) you can lose it all and not know how to get it back. However, if
you are someone who knows what you did to get there, no matter how many times you lose it,
you will always have a roadmap to get it back.
Look at Donald Trump. How many times did he go bankrupt? Do you think he had
something figured out about the 3 Critical Success Factors?
Last but not least of the critical success factors is . . .
#3 Communication
Do you realize how many Entrepreneurs suck at this! Really, you would be surprised. I was a
Leadership Training Coach, and I was blown away by how many Entrepreneurs and even
Millionaires I worked with had an issue with Communication.
Here is what you need to understand. As a young entrepreneur,
90% of your success and profits will boil down to how you
communicate in your Emails, Advertising, Promotions, Blog Posts,
Facebook, Twitter, Phone Calls and one on one meetings. The
general public has been bamboozled so much by charlatans that
they are very leery in trusting anyone. A purchase or investment in
you product / service is all about trust. If they trust you they are
more likely to purchase from you. How do they get to trust you? COMMUNICATION!
4. Though it is #3 of the critical success factors, this is the one that you will always be
developing. You can never be overdeveloped in communication.
In my business, I ran across this product called the “Costa Rica Mastermind Intensive.”
When I tell you this product was so off the charts and got the root of how to communicate
with your audiences especially via blogging, I saw how this training literally gave me the
freedom not only to communicate more, but to communicate in a way that was informative,
trustworthy and persuasive. How often will you find those words in the same sentence.
By the way, if you would like to check out this product, CLICK HERE
So there you have it my friends, those are the 3 critical success factors that all young
entrepreneurs should harness.
If you would like to work directly with me, here’s what you do.
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Here’s To Your Success!
A’ric Jackson
The Dream Achiever