Recently I was reading an article where someone interviewed 150 entrepreneurs and asked for their basic business advice. What do you need to achieve success?
Whilst reading I noticed that 3 of the same tips kept coming up. This isn’t a coincidence, so I thought it’d be useful information for any aspiring entrepreneurs reading this.
The journey to success is rarely, most likely never, a simple and easy one. It’s the old cliche – if it was easy everyone would do it. This is something I’m learning myself, 2 months in to my first business venture.
There will be rejection. There will be a lot of no’s. There will be a lot of money thrown down the drain, a lot of late nights and early mornings. You’re likely to want to quit and give it all up to go and find a corporate job. Everyone will face these hard times, and 80% of people do give in. But the 20% persist. These are the winners.
As mentioned in the book ‘Think and Grow Rich‘, you have not failed until you have accepted defeat. If you never give up, you’ll make it in the end. You must persist.
2. Surround yourself with smart people
‘Show me your friends and I’ll show you your future.’
Almost every entrepreneur in these interviews mentioned that you are unlikely to make it if you go alone. You’ll go a lot faster and a lot further with the right people by your side.
This can also be good for people starting off who are a bit lost. As Tai Lopez always says, find yourself a mentor. Whilst this may just be him promoting his online course, there’s truth in that statement. Find someone 1, 2, 5… 10 years ahead of you and spend time with them. You’ll learn a lot.
This doesn’t mean cut people off. If your family, friends or colleagues are dragging you down, I’m not suggesting cutting them off completely. Make an effort to see them because having people close to you is very important, but remember to spend some time with people ahead of you in your game in order to level up.
‘Hang with 5 idiots and you’ll be the 6th. Hang with 5 millionaires… you’ll be the 6th.’
3. Do the work
This one is so obvious, but so neglected. If you want to make it to the top, you have to hustle. You have to take action.
Gary Vee stresses the importance of this. Especially if you don’t go to college and you want to build a business, you have to ‘work your face off.’
Elon Musk is arguably the king of hard work. He runs 3 billion dollar companies, spread out across the states, has 5 children and is constantly turning unimaginable ideas into a reality (one of his latest being a hyperloop that runs underneath roads to reduce traffic.)
When he and his brother Kimbal built their first business known as Zip2, instead of renting an apartment, they found a small office and slept on the couch. They showered at a youth hostel down the road. Elon said ‘The website was up during the day, and I was coding at night. Seven days a week, all the time.’
‘If you do the simple math, if someone else is working 40 hours a week and you’re working 80, you’ll achieve twice as much over the course of the year.’
It’s obvious but so important. I’m not saying everyone is capable of what Elon has achieved, but I hope this stresses the importance of relentless hard work.
Thanks for reading. I just want to just reiterate that this is not MY advice. I’m only 2 months in to building my first ever business, and whilst I’m learning the importance of these 3 factors, I’m in no position to be dishing out advice yet.
I’m currently still working on my e-commerce store, which is going well and looking promising for the future. Next year I plan on opening 2 more businesses, including a marketing agency and a retail flipping business. If all goes according to plan, I’ll hopefully be running 3 businesses by early 2019.
I’m also gonna try to stick to more frequent blogs, so look out for them. If you want to get in touch with me, send me a dm on Instagram – it’s where I’m most active.