My Top Tips for Emerging Entrepreneurs
After 2 decades in business globally, I firmly believe the biggest deals are still to come. Whoever said, “Less is more, never had more,” it’s that simple. No level of personal comfort will satisfy a hunger for new ideas, new partnerships, and new ways to solve problems.
You must realize that there’s no magic or “golden touch”. My motto is this: If you get the right people in the room, magic will happen with very little effort.
Here I offer the following strategies as my top tips to emerging entrepreneurs:
Generate a Plan. A lot of people have an idea of what they want but haven’t really solidified the goal. The key to real success is to clearly establish your end goal and start with the end in mind. The person who knows exactly what they want in business and in life will always get what they want. A business will have a hard time moving the needle if it lacks a clear plan for the various steps in its lifecycle. "There is an old saying, 'people don't plan to fail; they fail to plan.' I believe this is true and that it is the same in business. I have always had a plan. Someone once told me that it is better to decide and be wrong than to never make a decision. A good plan is not a set course that a business must run by. Rather, it is a general direction that gives you an idea of how and when to adapt to change and what your goals will be."
Don’t Quit. Life will perpetually throw curveballs. You must weather the storm and never give up. Success is also about your perspective: Sometimes what appears to be an obstacle can end up becoming the solution. The answer isn’t always right in front of you, but success lies in having the perseverance and adaptability to know that you can always find a way through. Keep dusting yourself off.
Believe in Yourself and Believe in the Goal. Positive thinking and attitude is a must. If you don’t believe in yourself, you will never convince people to walk your journey with you. Self-confidence and self-motivation are what have helped me through my own hardest times. I used to have a vision board to keep me focused on my goals. I would cut out pictures in magazines of houses, cars, watches, and even the family settings I wanted and place them on the board. As I look back, I have achieved it all and more. I think the key is to visualize yourself already achieving your goal. If you keep your eye on the prize and believe it is yours, it will be.
Create the Right Group. This is the one thing that took me a while to learn before I hit my first financial milestone, and that is you will not achieve success on your own. No one can and no one throughout history has ever done this so you need to come to this realization. Every CEO, President, Millionaire, or Billionaire has created a winning team. Find the people with the work ethic, passion, vision, and attitude to help you achieve your Dream. When you find someone who you can trust and is loyal and works just as hard as you do, do anything in your power to never lose them.
Be in the Right Place (to Create the Right Time). Throughout my life, I have made a conscious effort to surround myself with positive people and opportunities. Even during my financial struggles, and there have been many along the way, I always made it a point to spend a little extra money to go to a more upscale coffee shop or restaurant, so I wouldn’t miss the opportunity to meet the right people. Consider your time and money as an investment. If you only have $20 in your pocket, it will be better spent on a $15 cocktail than on cheap beers at a college bar. If you want to meet the right people, you must be in the right place. If you think as if you are broke, you will stay broke!
There is No Time Like the Present. Patience is critical in business and all your relationships but that doesn’t mean standing still. I believe good things don’t always come to those who wait. I believe great things come to those who take ownership and go out and get what they want.
In an entrepreneurial life, not every effort will lead to success. What are your own greatest strategies for bouncing back from adversities?
That is the question that must be answered.