Paul Herdsman, the co-founder and COO of NICE Global, is an entrepreneur who has succeeded in establishing a global corporation. This is the goal of many who start their own businesses. However, research shows that very few make it past the fourth year of founding their business. Paul Herdsman shares some of the strategies he used to make his business successful.
Be a positive thinker. Research shows that positive thinkers experience higher productivity. They have more energy, are more resilient and have better lack solving problems. The best way to change your mind set from thinking negatively to thinking positively is by being grateful. Everyday find something to be grateful about. Making a list at the end of every day is a good place to start.
Dare risk. According to Paul Herdsman, success is to be willing to fail. Entrepreneurs who never get started are those who fear failing. The fear of failure paralyses ideas and keeps them from germinating. For any business to success, the entrepreneur must be willing to accept the fact that it might fail and be willing to get up in the event that happens.
Know where you are headed. Many entrepreneurs fail because of lack of vision. Having a vision is an equivalent of having a map. Though not precise, it helps keep you on course. When founding the business, have a clear picture of where you want it to be in the next 15 or 20 years. This will help shape many of the decisions you make.
It’s ok to say no. At the start of your business, especially when you are having a team that is passionate, you will receive a lot of ideas. Learn to say no to some of them. Your time is precious. Only accept ideas that are in line with your vision and core principles. This will help you stay focused.
Find a mentor. It is not easy staying objective in matters pertaining to your business. That’s why every entrepreneur needs a mentor. A mentor will help you look at the condition of your business objectively and help you find solutions and strategies that work. Throughout his journey, Paul Herdsman realized that mentors played a big role in his success. He chose mentors who were where he desired to be.
Learn more about Paul’s business strategies in his 12 Success Tips for Entrepreneurs From NICE Global CO-Founder Paul Herdsman
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