Any successful entrepreneur will tell you that the starting point to become successful is to have an idea. Entrepreneurship is about paving your path and not following someone else’s. The professionals at GCS Malta take a look at Michael Bloomberg’s successful journey to entrepreneurship in the following article.
Bloomberg started his journey with Solomon Brothers on Wall Street, where his career began at an entry-level job. He made his way up the ladder to partner, with perseverance and dedication. After many years, the company terminated his contract, which was the turning point of success for Bloomberg.
- Take risks.
Bloomberg did not look back, or waste time, he had an idea and went with it. He invested part of the severance check and created his business that emerged two skills he learned during Solomon’s time. Knowledge of the securities and investment world, and the technologies that made those deals happen. Instead of letting his feelings get the better of him, Bloomberg got an idea, saw a gap in the market and went all in.
- Be persistent.
Bloomberg said “luck plays a part in success, but the harder you work, the luckier you get… Hard work creates opportunities where your resume cannot.” He was persistent in getting his name and idea out there. He detected who his target audience was and worked towards building relationships before closing sales. After three years of being persistent at building a relationship with a potential client from his target audience, he signed his first client.
- Find your audience.
You need to identify an audience who your idea will be valuable to. It will be your target market and your focus for promotion. When it comes to entrepreneurship, most individuals become successful as they take their time to find an idea that does not already exist or improves a current one. They then identify the correct target audience and focus on that specific market. Though it doesn’t end there, you need to be aware of changing market needs, competitor moves and other external factors. You will be on top of the game and reduce failure risks.
- Never stop learning.
This tip goes to all individuals and not just those interested in entrepreneurship. Bloomberg adds “The world is full of people who have stopped learning and who think they’ve got it all figured out.” “Whatever path you choose in life, be a lifelong student.” Share your knowledge and success with others too. What good will it do if you keep it to yourself?
Why GCS Malta?
At GCS Malta, we empower our employees to reach further success in their education and careers and share this knowledge with their colleagues. Do you require professional advice or aid one/more are of service we offer? Please take a look at how GCS malta can help you reach the path of success and contact us today.
