How to Become a Successful Entrepreneur- The Skills & Methods Needed & an Action Plan to Get There

What are the essential skills needed to become a successful entrepreneur, and how can you grow your business without sacrificing your personal life? To thrive as a businesswoman, it’s crucial to master time management, build scalable systems, and focus on high-impact activities. These strategies not only drive business growth but also allow you to maintain a bustling personal life, feel at ease in your workday, and remain committed to your creativity, passion, and innovation.

Stepping into entrepreneurship is exhilarating—a blend of passion, creativity, and the freedom to shape your life and work how you want. But let’s be honest, it can feel like juggling flaming swords. The journey demands more than vision and passion; it requires mastering the skills needed to become a successful entrepreneur and finding ways to grow your business without sacrificing your time freedom or your sense of peace. Balancing business growth without burning out isn’t about working longer hours—it’s about focusing on what truly drives results.

It’s about working smarter, building scalable systems, and concentrating on what drives the needle forward. These are the keys to a successful business that supports the life you want to live. Here’s how you can make it happen.

1. Focus on High-Impact Activities: The 80/20 Rule

In the early days of building your business, you’re the CEO, custodian, and everything in between. But as your business grows, it’s crucial to identify the tasks that truly move the needle. This is where the Pareto Principle, or the 80/20 Rule, comes into play: 80% of your results come from 20% of your efforts. The secret sauce for fast growth is to identify that 20% and double down on it.

A digital marketing consultant was overwhelmed by client demands, content creation, and administrative tasks. After analyzing her activities, we found that the majority of her income was coming from just two of her service offerings, and the leads for these offers were coming from her Pinterest and blog strategy. By focusing on these high-impact activities and delegating the rest, she increased her revenue by 40% in six months—while cutting her workweek down to four days.

This strategy is essential if you want to become a successful woman in business. Start by tracking your time and results for a week. Identify the tasks that directly contribute to your revenue and growth, then prioritize those. Everything else? Automate, delegate, or eliminate.

For more on the Pareto Principle and how it applies to business (and life), you can check out this Forbes article. I also recommend two books on the topic, The 80/20 Principal by Richard Koch and The 80/20 CEO by Bill Canady.

2. Build Scalable Systems: Your Business on Autopilot

Imagine if your business could thrive without you micromanaging every detail. Gosh, doesn’t that sound NICE? When you create repeatable processes for your most critical operations, you free up time to focus on growth and innovation—the keys to a successful business in the long term.

A coaching business I consulted for was struggling to keep up with demand. The founder was handling everything from client onboarding to invoicing, which left little time for actual coaching. By implementing automated systems for scheduling, invoicing, and client communication, we reduced her administrative workload by over 50%. This allowed her to take on more clients without working more hours, ultimately doubling her revenue in less than a year.

Understanding and identifying potential systems in your business is one of the most crucial skills needed to become a successful entrepreneur. This often times doesn’t come naturally to visionary or creative business owners. It’s a stretch skill, but it can be done by anyone.

Here’s a simplified start to implementing systems so you can scale:

  • Start by identifying repetitive tasks in your business. Make a list.
  • Create a step-by-step processes for each task.
  • Review the processes. Identify where you can batch process, where you can automate, and where you can delegate.

If this all makes you want to pull your hair out- you can consult with a high quality operations expert to advise or even implement the systems themselves. Visit our list of helpful articles on this front if you’re in the DIY phase of your business.

3. Master the Art of Delegation: Focus on Your Zone of Genius

You didn’t start your business to get bogged down by tasks that drain your energy. Yet, many of us struggle to let go of control. (I’ve been there, too!) The key to becoming a successful entrepreneur and building a long lasting business lies in recognizing what only you can do—the tasks in your zone of genius—and delegating everything else.

Sarah, creative entrepreneur, loved designing but found herself spending hours on bookkeeping, client follow-ups, and social media management. After hiring a social media manager and outsourcing her accounting, she refocused her energy on her creative projects. Within six months, her business revenue grew by 30%, she was working 10 hours less each week, and her creative cup was overflowing with new innovative ideas.

The concept of the “Zone of Genius” comes from Gay Hendricks’ book, The Big Leap. (It’s an important book for most operations experts. I’m no different, so you’ll likely see me reference this in other articles.) Hendricks defines the Zone of Genius as the activities you are uniquely suited to do—those that leverage your natural talents and that you love doing. By focusing on these activities, you can achieve your highest potential.

Effective delegation is a game-changer when figuring out how to become a businesswoman who is at ease in her business, enjoying the process, and has ample time for her personal life or other growth activities. Start by identifying your zone of genius. Then, outsource everything else. Investing in the right team and tools exponentially increases your capacity to grow.

4. Align Your Business with Your Core Values

Your business should be an extension of who you are. When your work aligns with your core values, you attract the right clients, partners, and opportunities, making your journey not only profitable but fulfilling—essential for how to becoming a successful woman in business.

A graphic designer I worked with felt disconnected from her work. She was taking on any project that came her way, from e-com logos to marketing materials, but nothing seemed to resonate with her. After some reflection, she decided to pivot her business to focus exclusively on clients in the eco-friendly and sustainability sectors. This change meant turning down projects that didn’t align with her values, but it paid off. Within a year, she not only tripled her client base with like-minded businesses but creating an extensive referral network in her niche and felt creatively aligned and energized.

To achieve this alignment, start by defining your non-negotiables—whether it’s the type of clients you work with, the impact you want to make, or how you conduct business. Then, ensure every decision, from branding to service offerings, reflects these values. Not only will this make your business more enjoyable to run, but it will also attract clients who are a perfect fit.

5. Commit to Continuous Learning aka The Competitive Edge

The most successful entrepreneurs are those who never stop learning. Whether it’s staying on top of industry trends, mastering new technology, or investing in personal development, continuous learning keeps you ahead of the curve and ready to pivot when needed. This is one of the keys to a successful business that remains relevant and competitive.

Real-Life Impact: A freelance web designer I worked with initially resisted learning new design software, fearing it would take too much time away from serving clients. However, after committing to a short online course, she was able to offer more advanced services and attract higher-paying clients. Within three months, her income had increased by 50%—all because she invested in upskilling.

The world of business and technology is constantly evolving, and what worked yesterday may not work tomorrow. Make learning a priority in your schedule and your budget, whether it’s through online courses, networking with peers, or hiring a coach or consultant. You’ll be on ahead of the curve and more confident and capable you’ll be in steering your business in the right direction. You’ll stand out as the innovator in your field and be seen as the expert in your industry.

Building a successful business doesn’t have to mean sacrificing your time, energy, or peace of mind. By focusing on high-impact activities, creating scalable systems, mastering delegation, aligning your business with your values, and committing to continuous learning, you’re setting yourself up for sustainable success. Remember, it’s not about doing more; it’s about doing what truly matters.

Ready to take your business to the next level? Our “Operate Like a 7-Figure CEO in 5 Days” action plan will give you a big head start with 5 simple actions that will enable you to implement methods that increase productivity, improve client retention and lead conversion, and streamline your operations—all while working less.

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