5 Uncommon Lessons Every Successful Entrepreneur Uses (You Should be Using Now)
I’m an entrepreneur purely out of necessity.
It’s not something I wanted. Not now.
Not for a long time.
Pivoting from a career as an employee, for which I was prepared my entire life, to that of an entrepreneur and business owner turned my world upside down and backwards.
I remember clearly the day when I came to the realization that Paychecks aren’t earned, but created through sales and profits.
Want to be successful and build a million dollar business?
Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do. — Pele
I love my business! I love my customers! And I love the entrepreneurs I work with.
Thanks to great mentors and business partners our company has seen some success and I’m enjoying the freedom and the fruits entrepreneurship.
Because of this I feel compelled to share 5 values and principles that have been critical on my entrepreneurial journey in hopes that they add a little something to yours.
Learn to Learn: It’s less about what you know, and more about knowing how to find what you need to know! You must be able to assimilate and understand information quickly. Find reliable sources and educate yourself on your customer and their needs.
“An investment in knowledge pays the best interest” — Benjamin Franklin
As an entrepreneur you will be pulled in many directions. Learning how to learn will help you grow into the next big opportunity.
Forget the details: Too often do people get caught up in the more insignificant portion of the business and refuse to act because of it. I love what Seth Godin says about this “The cost of being wrong is less than the cost of doing nothing!”
Don’t allow the currently unknown or understood prevent you from moving forward. Your better off starting the business and learning from your mistakes than doing nothing.
Be Obsessed: As an entrepreneur you need to OBSESS over your company and your customers. Only with this obsession can you find the needed focus and energy to get results.
“Don’t start a company unless it’s an obsession and something you love”- Mark Cuban
Mentorship: Probably the most undervalued aspect of entrepreneurship and the reason most businesses fail. It’s completely normal and expected to not know everything and not have all the answers.
Building key relationships with mentors that can advise on actionable strategies to move most effectively to market. @JeffreyHayzlett wrote this fantastic article on selecting your mentors and being a good mentor.
Be Value Driven: Customers want the highest value at a price they can afford. Too often do businesses focus on price and not enough on the value created through their product or service. I love the way Gary Vaynerchuk says it “Give Value. Give Value. Give Value. And then ask for business.”
None of this takes away from having a business plan, executing an effective sales strategy, controlling costs, etc. However, they are principles that stand out as I meet and speak with entrepreneurs around the world.
Find a passion, find great mentors, and get to work.
Thiefaine, a founder and COO of Prouduct LLC a global Sourcing and procurement company. He is also known as “The Product Guy”, and host of the soon to be launched “Product Guy PodCast”. Thiefaine is recognized as a thought leader for product development and creation. His work with contract manufacturers has taken him around the world and across many industries.
To contact Thiefaine about a FREE product consultation and supplier audit please contact Prouduct.