Becoming a successful entrepreneur: eight rules never to forget

Entrepreneurship is fantastic, but with discipline, you are unlikely to make it. This are the eight rules of Adrián José Velasquez Figueroa that you must not forget.

1. If you are not the first you are out already
The first person out of the woods gets an advantage of the rest. If you are the first in your idea, before others catch up, you are already established. Firms like Facebook now swallow competition because they were first on the block and anyone who comes their way either sells out or is trampled by competition.

2. Let the business work for you
At first, you may be everything in the company, but as you move on, it is inevitable to develop a team. Most successful ventures have a very forward-thinking team. If you insist on being everything, you will most certainly be overwhelmed, and you can only do so much. Eventually, your business will fail.

3. Make a partnership
Through careful review and networking, you are likely to get people who complement you. Successful entrepreneurs on know that every idea requires different angles to capitalize fully on the market value. If you have a partner(s), you are unlikely to miss out on ideas. You also reduce your chances of making mistakes.

4. You must be the best
For you to fully comprehend a new idea, you must have the necessary factual basis. To combine gas and opportunity into a business is not easy. So you must be really good. It is not everything to be an A student; you must supplement your genius with self-belief too.

5. Take shortcuts at your peril
Before you can afford to go on holiday and enjoy the tranquility of some of the Panama Beaches, you got to work hard. Entrepreneurship like Adrián José Velasquez Figueroa is not a single event; it is an elaborate toil of trials and errors. There are no shortcuts.

6. Be frugal
You cannot afford to break the bank on any one venture. You keep trying until the best product is produced. If you are not careful with expenditure, you may invest too much in a product that still needs improvement.

7. Failure is very close to success
To be successful, you must learn how to avoid failure by acknowledging it and planning for how to mitigate it.

8. Entrepreneurship is a learning process
It is important to learn from your mistakes. Incorporate feedback and improve every day.

Adrián José Velasquez Figueroa is a professional investor. He has interests in venture capital, mentorship programs for young entrepreneurs, and a distinguished entrepreneur himself. He was born in Venezuela. Most of Adrián José Velasquez Figueroa’s investments are in Panama.

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