Anyone in the telecommunications industry – or any industry for that matter – trying to bring their company to the top of the market, knows the difficulties it takes to be an entrepreneur, and the challenges in creating an empire.

Keeping that in mind, auto dialer and voice broadcast provider CallFire’s CEO Dinesh Ravishankar took to his blog to discuss his own personal experience and insight for hopeful entrepreneurs. 

Speaking at the University of California –  Irvine, Ravishankar told one-day-entrepreneur his top five key takeaways that all hopeful CEO’s should consider when pursuing the idea. 

First, he suggested to run the idea for the business by 10 friends, to see if they agree it’s a good idea. This way, those closest to you, who know your hobbies can assess if the idea could really present itself as an opportunity to expand into a business idea or not. 

Second, Ravishankar said that, in order to be an entrepreneur, failure will exist in one way or another. “You will fail,” he said. “Just make sure you learn from it and don’t repeat mistakes.”

Third, while some may think that going with your gut instinct will always steer you in the right direction, CallFire’s CEO suggests the opposite. By using analytics to make a decision, the possibility of failure or any other disastrous circumstance is lessened extremely. 

Fourth, having flexibility allows an individual to keep goals in mind, but be open enough to compete in a desired marketplace.

And finally, Ravishankar suggests that the willingness to innovate, change and out-hustle competitors will undoubtedly give you the drive and determination you need to create an organization that puts you at the top of the food chain.

He should know. His company, CallFire, is a leading provider of services for the call center and workforce markets.