I was lucky enough to spend last Friday with Karren Brady. Aside from starring on The Apprentice each week, Karren has run a number of successful businesses, including a couple of football clubs.
One of the things Karren shared with us was her list of the six key ingredients to being an entrepreneur. So here they are:
- Ingredient one is Leadership. An entrepreneur’s got to have vision and has also got to demonstrate this through their behaviour. It’s easy to behave well when things are going well, but your behaviour when things are going badly is even more important. How you act when you don’t know the answer is key because you need to provide a vision and a path forward. You’ve got to be able to focus on the goal and stay on path despite all the challenges.
- The second thing is Ambition. Nobody starts anything, and nobody has any success, without ambition. Karren said that Alan Sugar has achieved loads with his businesses but, on The Apprentice, he’s first in and last out every day of filming because he has ambition and the drive to be the best in everything he does.
- The third one is Determination. Everyone successful has had defeat or failure, but what makes them successful is gritting their teeth and carrying on.
- Fourth is Attitude. If you don’t like something, change it. If you can’t change it, change your own attitude to it. Karren has a rule she uses for every big decision. Basically, she asks herself “If I do this, what’s the worst that can happen?” If she can handle the worst, she goes for it. Her attitude is that she’ll take a risk and make it work.
- Her fifth key ingredient is Direction. She herself knows exactly where she is going and demonstrates this through hard work. Every new employee at West Ham Football Club spends day one with Karren so they can see her direction, understand it, and apply it to their own role.
- Sixth thing is Positivity. She genuinely believes that being persistent and pressing on will solve every problem in the world if you remain positive.
So, those are Karren’s six key ingredients to being a successful entrepreneur. I hope they’re useful.
By the way, she wouldn’t say who wins The Apprentice this year, but she did say that the trip to Bruges is the funniest episode they’ve ever had…..so make sure you watch it!