How can I become a successful entrepreneur or investor?

In order to be a successful entrepreneur with good management and leadership skills, one should know the definition of entrepreneurship. A young successful entrepreneur leader with his origin from TRNC, Burak Basel defines entrepreneurship as ‘A life pot where knowledge and skill, theory and practice, money and talent, quickness and patience are intertwined and integrated’. According to Basel, a real entrepreneur on his way to success and achievements must identify the problem and as a result, find a solution for it. Naturally that will in this case identify the enterprise idea. ‘One of the key factors and features of entrepreneurship is the maximization of utility.’ says the well-known entrepreneur curious for discovering undiscovered things. Last but not least, the outstanding feature of a real entrepreneur or an entrepreneur candidate is the ability of making plans by collecting data and drawing conclusions while investing in profitability.

The steps that the successful entrepreneur Burak Basel has identified at the beginning of his business journey may be defined as followed:

• Finding an Initiative Idea
• Putting the Idea of Enterprise into Life
• Being an Entrepreneur Without an Intellectual Idea

The Foundation of an Enterprise Idea According to Burak Basel

Basel reminds his followers not to forget that anything one can say, “I wish it was like this” could actually be an idea of enterprise. This is what he has learnt from his long time experience. Besides, finding the authentic idea of enterprise is definitely going to change your perspective towards things especially problems, he says.

Actualizing the Idea of Enterprise According to Burak Basel

‘Before bringing your venture idea into life, a very good and proficient market research must be completed’ said Burak Basel. In addition, he has stated some criteria that one must stick onto in order to get perfect results. One of the criteria is to identify the competitors and define their good and bad features. Burak Basel says that he asked himself the question ‘what is missing, what can be developed?’ The second criterion is the identification of demand and its reasons. The question that the successful investor has asked in this case was ‘Do the customers prefer the brand or the product itself?’ The demand and competitor analysis play crucial role on the way to success. Basel also mentioned to foresee the future and make predictions about the futuristic achievements and potentials of the product or service that is going to be developed. Last but not least, the materials and equipment used, investment made, and time consumed play vital roles in entrepreneurship according to the expert Burak Basel.

Entrepreneur without an Intellectual Idea According to Burak Basel

A skilled person that uses his/her utilities to the fullest and becomes an indispensable employee of a particular company may turn into an entrepreneur without possessing an intellectual idea says Basel. The success rate of such an entrepreneur depends totally on the difficulty of his/her position in this direction and how much he/she enriches that position with his/her skills. Burak Basel for example used his programming skills and joined the world of entrepreneurship resulting in perfect achievements. A real entrepreneur never stops but educates himself/herself and develops continuously he says.

According to Burak Basel the duties of an entrepreneur is to find an idea, keep developing, offer jobs, write contents, build a company, team, and brand; get involved in marketing, grow the company, develop products, manage crisis and legal processes.