The world’s top entrepreneurs didn’t become successful by chance–whether it’s Jeff Bezos, Bill Gates, Mark Zuckerberg, or Warren Buffet. They attained high levels of success by having a clear vision and sticking to it. They built their billion-dollar empires from scratch. What’s their recipe for success? We share their secrets in this post.
- Plan Accordingly
Oberlo reports that in 2020, there were 840,529 business applications in the U.S. And while many businesses are launched every year, not many succeed. Only 25% of new businesses last for 15 years or more.
To succeed in any venture, you need to have a clear vision of what you want to achieve. Write down your goals and plan how you will execute each one of them. Successful entrepreneurs work towards specific goals and adapt according to the changes in the industry.
- Pitch to Speak at Conferences
If you have a story related to your industry, try pitching to conferences to be a speaker. Some will cover your expenses, others will allow you to speak without payment, while others may give entrepreneurs the opportunity for visibility. Speaking at conferences allows you to network and to create a brand.
Speaking at conferences can be extenuating with travel, networking events, and more. Whether you need a hangover patch after your gigs or decide to avoid drinking, the networking opportunities can be priceless.
- Have a Great Team
It can be very challenging to manage all aspects of a business on your own. If you can afford it, hire a small team with different skills that complement yours. Google and Apple have become so successful because they have awesome teams. Find like-minded individuals whose strengths complement yours and add value to your business. Once you’ve mastered how to work with your team efficiently, the company will start growing.
A teamwork environment fosters friendship and loyalty. Employees develop close-knit relationships and are motivated to work harder, cooperate, and be supportive of each other. Team members can regularly exchange ideas and come up with better ways of doing things.
- Be Passionate
Success comes when you’re passionate about what you do–it becomes much easier to dedicate your time and effort. So, before you put money into a business venture, ensure you’re committed. Success will only come if you love what you do.
Being passionate gives you a powerful edge. It means that you’ll dedicate more time and energy to your startup–more than your competitors. You keep learning and doing more.
- Focus on Your Strengths
You can’t be an expert in everything. You can’t be a manager, marketer, and an accountant. What you should do is focus more on your strengths and use them to add value to your business. For instance, if you’re an expert accountant or marketer, focus on that. Hire experts in other vital sectors to help you grow your business.
You can also find ways to turn your weaknesses into strengths. Consider getting formal training to boost your skill set, and focus on the skills that will benefit the business in the long run.