James DuBose Shares Insights on How to be a Successful Entrepreneur

Each year, millions of individuals set forth to bring their entrepreneurial vision to life. And while some of them achieve and exceed their expectations, others face a litany of setbacks and struggles that force them to delay their dream, or scrap it entirely.

So, the question is, what separates entrepreneurs who climb the ladder of success from those who fail to launch? The bad news, is that there’s no definitive, single answer to this classic inquiry. There are many roads to entrepreneurial glory. However, virtually everyone entrepreneur who has achieved success and sustained it can look back on their path and see four critical, fundamental elements that didn’t just make an important difference on their journey. They made all the difference. These include: self-belief, vision, relationships, and a relentless work ethic.

Self-Belief

The master key to entrepreneurial success is unshakable self-belief. Entrepreneurs cannot and should not expect to derive their purpose, energy and inspiration from others. They must ignite the spark with themselves, and use it to illuminate their way and influence others.

“There are so many entrepreneurs out there who work extremely hard, have a phenomenal business idea, and truly desire to make a positive impact in their marketplace,” commented James DuBose, a veteran TV producer, filmmaker, and entertainment industry executive who launched DuBose Entertainment in 2006 and DuBose Music Group in 2009. “But what they don’t have is complete belief in themselves. Tragically, there is no substitute for this essential piece of the puzzle. Sooner or later, these entrepreneurs lose heart and their dream dies.”

Vision

Entrepreneurs without a comprehensive and coherent vision are like captains on the ocean who don’t have a compass or a map. Yes, they may be fortunate enough to reach their destination. But the odds are severely against them, and what’s more, if they do succeed they won’t be able to replicate the journey.

“There are many one-hit entrepreneurs who accidentally stumbled into a successful situation and hit the jackpot,” commented James DuBose, “But what typically happens, is that they assume their success was the result of their vision and competence instead of good fortune and invariably they end up struggling and failing. Some of these stories can be very tragic and have catastrophic endings.”

Relationships

Many successful entrepreneurs have a larger-than-life personality who, through sheer force of will and determination, have the ability to make the impossible, possible. However, this does not mean that they eschew collaboration or think that relationships are obstacles. On the contrary, they leverage a strong network to help them overcome challenges and seize opportunities.

Solid, mutually beneficial relationships are at the heart of all success in business, and in life overall. When intelligent, driven and dedicated people join together in a shared vision, amazing things can happen.

Uncompromising Work Ethic

Last but certainly not least, would-be entrepreneurs need to understand, accept and embrace the fact that there are no overnight successes. Instead, there are long days, longer nights, and typically for the first few years at least, a great deal of sacrifice and delayed gratification.

“The most successful entrepreneurs are also the hardest working,” commented James DuBose. “This doesn’t mean that they neglect their other responsibilities, such as taking care of their family, contributing to the community, and developing themselves personally and spiritually. It does mean that they don’t take shortcuts or expect that things are always going to be easy. There are ups and downs on the entrepreneurial journey, and sometimes what seems like a negative ultimately turns out to be a positive. Without an uncompromising work ethic, it’s not just difficult to keep the dream alive, but it’s impossible. Of course, entrepreneurs must learn the art and science of delegation, and rely on others within and outside their company. But they should always be the hardest working person on their team.”

This article does not necessarily reflect the opinions of the editors or management of EconoTimes