Entrepreneurs are known to deploy innovative strategies in working towards achieving their big business dreams - often disadvantged but always determined. Some of these strategies and approaches, which come naturally to most entrepreneurs, were seen at work in the recent Delhi elections, where a relatively nascent party witnessed the largest majority ever in a poll battle.
Here are some of the similarities between the entrepreneurial and poll related strategies adopted:
- Success favours the resilient
Entrepreneurs know best that things don’t always turn out as planned. Success, however, comes to those who are not defeated by temporary setbacks and perseve till they reach their goal.
In the recent election, the winning party faced a crushing defeat in an earlier national election, and lost many of its trusted party members to others and they were virtually written-off. But in spite of repeated failures they regrouped their efforts and continued to believe in themselves – much like the steadfast and determined entreprenuer.
- Learning from mistakes
In business, we often face defeat, challenges and criticism. Succesful business owners tend to channelize criticism positively, ensuring they turn every mistake into a rich learning experience.
One aspect that has most endeared the winning party to the people, was their admiting their mistakes, rather unabashadly. The party leaders repeatedly apologised for letting down the people of Delhi during their last, rather abbreviated term. The new resolve was used as an election motto to amplify their commitment.
- Staying true to principles
Succesful business owners clearly articulate their prinicipals and objectives, and stay true to them. Similarly, the winning party stayed true to its founding principles of addressing the needs of the common man.
- Finding a USP & connecting with customers
Succesful entrepreneurs ensure that their product or service has a defining USP that benefits their customers. This USP become the means for business owners to connect with their customers.
The winning party recognised the issues that were of deep concern to the common person (corruption; electricity; water – to name a few) and identified themselves as champions for these issues. This struck a chord with the electorate and the poll results are a clear manifestation of this.
- Planning expansion in keeping with resources
Succesful long-haul businesses first focus on building a strong core team and product, followed by expansion. In any endeavour, it is crucial to have a solid foundation and then build on that.
When the winning party got ambitous earlier in the national elections, they ended up spreading themselves too thin and faced the consequences. The lesson is clear.
The landslide win is a clear demonstration of the fact that persistence and determination can move mountains. These are principles so ardently followed by most entrepreneurs and ones that create the fine line between the successful ones from others. In the entrepreneural world, we know, it is important to stay confident and determined when the going gets tough. It’s a harder but surer way to fame and success.
**Disclaimer: GlobalLinker does not subscribe to or promote any political ideology. This article is only referring to principles and learnings from an effort, recognised as having significant success. The author and GlobalLinker do not wish to or intend to promote or critique political followings of any member.**
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