Entrepreneurial Launch Code: Learn the Keys to Success
If you asked 10 people what the word “entrepreneur” means, you’d probably get 10 different answers. Although business owners are often labeled entrepreneurs, not everyone who owns a business has an entrepreneurial mind-set or the qualities needed to make a business thrive.
One definition, which captures the essence of entrepreneurship, was developed by author John Hagel III, the founder and chairman of the Deloitte Center for the Edge, a Silicon Valley research center. From his perspective, an entrepreneur is not just someone who wants to make a bundle of money in the fastest possible way, but rather “someone who sees an opportunity to create value and is willing to take a risk to capitalize on that opportunity,” he wrote in a Harvard Business Review article.
Among the biggest mistakes many novice entrepreneurs make is attempting to reinvent the wheel. Fortunately, entrepreneurs can easily avoid that common stumbling block by following the advice of motivational speaker Tony Robbins. He said that one of the keys to success in business, especially for aspiring entrepreneurs, is to ask for help from a mentor who already knows the ropes.
“Whatever you want in life,” Robbins said, “someone has already discovered how to get it.”
Robbins said that a seasoned entrepreneur “can likely save you time and pain with the knowledge they’ve gained in their own experiences.”
“Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.” – Albert Schweitzer
5 Leadership Lessons For Entrepreneurs To Be Successful In 2021
Whether you’re a business veteran or new to the entrepreneur scene, running a business is no easy feat. Despite a challenging past year, entrepreneurial spirits are alive and well, with many Americans expanding their quarantine hobbies beyond activities like baking and exercising and starting their own ventures. Consequently, 30.7 million small businesses now currently operate nationwide, and according to the U.S. Census Bureau, applications for small business owners increased 32% in the first nine months of the COVID-19 pandemic, with a record-breaking 77% jump in Q2 – that’s 500,000 more Americans and counting navigating the complex world of entrepreneurship.
Building on a long, successful career as an entrepreneur, Kirk Simpson, CEO of FinTech software Wave, developed software specifically for small business owners to help them get off the ground and focus on doing what they love. As a three-time tech startup owner himself, Simpson’s unique connection to entrepreneurship encouraged him to develop his software with features that relieve entrepreneurs of maintaining administrative tasks like bookkeeping and banking, so they can focus on building their business.
“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain
How Much Education Does an Entrepreneur Really Need to Succeed?
Common sense might tell you that the more educated an entrepreneur is, the greater their chances of success will be. Going to college, getting an advanced degree and undergoing multiple training programs should equip them with more knowledge and experience they can use to build their business.
But at the same time, there are plenty of stories of entrepreneurs who dropped out of college (and even those who dropped out of high school) and still did something incredible. So how much education does an entrepreneur truly need to succeed?
First, we need to acknowledge the fact that you can find anecdotal evidence to back your claims no matter what your position is. For example, the found of Tumblr, David Karp, dropped out of high school and is now a billionaire — along with fellow billionaires Henry Ford, John D. Rockefeller, Amancio Ortega and Francois Pinault.
Similarly, you can find stories of entrepreneurs who dropped out of college and became wildly successful. Famously, Bill Gates, Larry Ellison, Michael Dell, Larry Page, Mark Zuckerberg and Steve Jobs all left college at some point — and many of them did this so they could focus on their landmark business full-time.
And of course, there are plenty of stories of entrepreneurs who became successful only after graduating college with an advanced degree. Anecdotal evidence doesn’t tell the full story, however.
Zooming out, we can see that the alluring tale of the “college dropout entrepreneur” is a bit unfounded. Although there are some specific examples of people who abandoned their education and became successful, these tend to be exceptions rather than the rule.
How to Foster and Nurture Entrepreneurial Success
You’ve likely heard the tales of entrepreneurs working 18-hour days by themselves, but that’s not a healthy way to run a business. Trying to take everything on yourself can quickly lead to exhaustion, burnout, and mistakes.
A successful company begins at the top and if you’re stressed and tired, then your service and morale will suffer. Instead, learn to take on what you must and delegate the rest to others. Many business owners want to do everything themselves because they don’t trust it can be done right.
Smart entrepreneurs surround themselves with people they trust and give them jobs they’re qualified for. Don’t take on so much that your business suffers.
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” – Steve Jobs
6 Things Every Entrepreneur Should Do throughout 2021 to Thrive
A variety of factors contribute to one’s success as an entrepreneur. According to recent research, they include everything from financial stability to excellent leadership. And, while you may do a lot to improve the efficiency of your business, there are some things you must do. Here is an outline of many critical things entrepreneurs must do to drive firm success to a global scale.
- Personify, personify, personify your brand.
- Make your brand more human.
- Make your brand more human! Your company, your employees, or your products may make your movie available on your best-written blog or post.
- Thanks to your phone, you are now encouraged to more conferences, interviews, and awareness events than ever before in today’s business environment. Visibility is important for your business as well.
What Entrepreneurs Should Know About Reading
What do all successful entrepreneurs have in common?
They read books.
Warren Buffett devotes about 80% of each day to reading, Bill Gates strives to read one book a week, and Mark Zuckerberg needs two weeks to read one book and share it in his online book club. Oprah Winfrey selects one of her favorite books every month for her Book Club, while Richard Branson might wow you with his impressive bookshelf.
Why do they read like there is no tomorrow?
Books encourage self-educating, self-improvement, and success. Entrepreneurs read books to reveal marketing secrets and get advice on business strategies, as well as develop necessary skills and get new business ideas and motivation.
The trick is, successful people are highly selective about what they read, choosing books for education rather than entertainment.
15 Best Entrepreneurs Books to Start Reading Now to Be Successful
Knowledge is power, and you’re going to need a lot of it if you’re going to be able to steer your business to success.
Whether you’re an aspiring entrepreneur or an entrepreneur who is striving to make your business successful, learning from successful entrepreneurs’ experiences can help you grow faster.
I Built a Billion-Dollar Company With the Help of These 19 Business Books
There’s arguably no better way to learn how to start and grow a business than to just dive in with a hands-on approach. At the same time, as someone who built a “unicorn” from the ground up, I can also testify that there’s a lot of wisdom in taking advice from others who have already gone through the school of hard knocks. Books are a wonderfully accessible way to get that advice, and there’s no shortage of incredible professionals who are sharing what they know through the written word.
Take a Seat: Relaxation for the Entrepreneur
Entrepreneurs hardly ever get time to sit and just think. I’d argue that starting your own business is one of the toughest jobs out there. And the possibility of stress, the lack of motivation and the impending fear of failure is enough to get even the toughest player to gasp for mercy.
Entrepreneurs may forget that they too deserve a break and need to unwind and clear their heads. In fact many top CEOs and entrepreneurs consider this unwind time non-negotiable. As for me, I was so stressed as I was pursuing my business ideas that I cornered myself with a bout of pneumonia, rendering me unable to work on anything for a month – what an #entrepreneurfail. Since then I’ve carefully carved out a balance.
Here are some traditional ways to relax as an entrepreneur:
- Meditation and Yoga – Top CEOs meditate. Are you one of them?
- Exercise – There is evidence that you can actually improve your memory and focus with exercise
- Humor – Laughter can reduce your blood pressure and help you think clearly. If you need a laugh you can always turn to #entrepreneurfail!
- Family and Friends – Don’t forget those who care about you the most.
- Me time – You, yourself and yes to taking a well deserved break.
Entrepreneurs! It’s Important to Relax
As an entrepreneur, it’s easy to fall into the trap of feeling like time spent relaxing is time wasted. When your time is your money, it makes sense to spend as much time as you can working so that you can grow your business and make a larger profit. But, forgetting to relax can cause a number of problems with your health – including stress and anxiety, high blood pressure, headaches, muscle pain and more, which can add up and take their toll.
If you’ve been running a business for a long time and it’s getting increasingly busier, you’ll be forgiven if you’ve forgotten what relaxing feels like. Many entrepreneurs find themselves incorporating work into the time that they’ve set aside for relaxation, such as taking their laptop on holiday, checking emails in front of the TV, and taking conference calls during dinner time. But, it’s vital that during the time you set aside for relaxation, you forget about work. This helps you to truly wind down and release the stress of the day, leaving you refreshed to take on the remainder of what you have left to do.
Meditation for Entrepreneurs — A Blueprint
As entrepreneurs, we all need to cope with uncertainty, evaluate risk, constantly learn, and adapt to an ever-changing environment. Often times it means working harder, longer, and sacrificing short-term gains for a longer-term goal. Not the most stable and predictable way of living.
Luckily, meditation offers many techniques to work through these challenges while helping you to get to know yourself better.
The most obvious benefit of meditation is that it reduces stress levels. However, there are many more profound benefits to be reaped.
More specifically, meditation can help to
- Be more centered — Entrepreneurs sometimes need to make quick decisions and iterate quickly, and good decisions are only being made when distracting thoughts and negative emotions are out of the way.
- Be more goal-oriented— Focusing your energy on reaching your goals and milestones is essential and meditation can help to put you into the right mental state to channel your energy more targeted.
- Be more creative—Finding innovative solutions for problems is daily business and divergent thinking is key here, a trait which is imposed by meditation.
- Be more joyful — Life is partly suffering and building a company most likely involves low times, though, there is no reason for not being as joyful as possible throughout the entire process.
- Stop worrying that much — Failure does not exist, it is only the interpretation of most people’s mind that makes it look like a failure. In reality, it is all about learning, and every challenge will put you in a better and stronger position.
- Get to know your true self — This is a hard one. Finding your true self means to understand your values, strengths, weaknesses, and real passions. Getting closer to your true self will almost certainly make you a different kind of entrepreneur.