Aspiring entrepreneurs are hopping up everywhere but the problem is that they are just starting out and are about to devastate a lot of time going off beam. Here are some advices to entrepreneurs to share some things every serious entrepreneur does.
1. You don’t always need to be the first in the market. If we look at companies like Facebook and Google they entered very late in the game but now they are the best in their field. Lot of entrepreneurs thinks entering first in the market makes you the best. But it is not true. Facebook is not the first in the market, before that was Friendster then there was MySpace and finally Facebook. Facebook is the leading social media platform and used by millions of people. The point is why MySpace was knocked out of the ring because if you are first in the market you should always improve your design, service, offerings and product in order to obsolete. Mark Zuckerberg took the advantage and found countless flaws in the design of MySpace and come up with new and friendlier social media platform.
2. There are only four ways to make wealth: investors, business owners, employed and self-employed. Don’t put yourself in the bracket of self-employed for too long. When you are self-employed you generate active income whereas you need to create a stream of residual income or passive income. This can only be done when you focus on the next level and that is investor or business owner as quickly as possible.
3. Entrepreneurship does not work on shortcuts. Success in life is attained through persistently pursuing the dreams or goals, no matter the price. If you are constantly focused on shortcuts then the success will be temporary. Everytime in the playing field you will be caught looking for the shortcuts hoping that this is the best but in most cases it won’t be. Instead of looking for hacks work on personal growth to become a better version of yourself so that whatever the game plan is you have enough familiarity to face every confront that comes your way.
4. Successful entrepreneur is able to handle the pressure and use it to fuel your energy and inspiration to win the game. If you are not efficient enough to cope with the pressure inspite of amazing ideas, plethora of skills and finances then the entrepreneur arena is not fun for you. Serious entrepreneurs love the unbeatable challenges, be keen to solve the problems because they know it will make them stronger, better and bigger in long term.
5. The difference between an entrepreneur that achieves $200 million in a sale of a product and another entrepreneur that achieves $20million in a sale of the product is usually determined how effective the marketing skill of the entrepreneur is when it comes to share the message to the public. A sale is nothing but the power to tell story. Most of the people purchase your product based on the emotions and how the message made them feel.
6. To hit high you have to aim high. Keep on growing each and every day to prove that you are worthy of that goal. You need to set 10X goals, as it is proven that setting 10X goals can actually help in achieving big success. To become a truly successful entrepreneur write down your 10X goals everyday or whenever you are disappointed by the work.
7. Time is a finite resource and there is no point in trying to beat the clock. The most important thing is how we spend our days and save the energy in order to perform well. Health is equally important for them as wealth, so they give importance to exercise as the key factor for long lasting energy.
8. You cannot do everything alone. Tai Lopez says it is better to have a partner that compliments your weakness so that you can focus on your strengths if you want to go for big time. Looking at successful people Warren Buffett has Charlie Monger, Gates had Paul Allen and Steve Jobs had Steve Wosniak. With the help of the partner you can take your business to next level.
9. It is nice to be inspired but if you get so involved in it and forget that you actually have to work then my dear your time to shine in the marketplace is slipping away. Do not spend much time focusing on how cool is the idea, furniture is classy, logo looks great etc. It is the only option and your life depends on it. There should be some sense of desperation and urgency in your approach.
10. Last but not the least instead of going for business plan go for business map where you work on the mission statement, foresee what you gonna do over next 12 months, study the market and budget to execute it. Sum up in 2 to 3 pages at the most. Business plans of 40 pages are outdated and changing constantly so adapt to the continuous shifts.
Focus on getting your business off the ground with long time passion and self development and believe me you will conquer success no matter what are the circumstances.