There are many tip lists out there instructing you on how to best achieve this result or that result in whatever field of expertise you are looking for. And admittedly, many of them do provide useful and productive advice. But the best advice you can get is from people who have trodden that path already, and especially so from those who have trodden it to great and mighty success.
In the world of business, this has become known as “the 1%”… those who have achieved success in the entrepreneurial world exceeding $10 million per annum. Very often, these elite clique have been asked how they achieved that fame, wealth, and success. And when you boil it down, it invariably and usually has three main factors in play that helped these titans of industry get where they are.
We’ve compiled those three aspects into a single article in the hope that it will help and encourage you to achieve your dreams.
1. Every Experience An Opportunity
The best entrepreneurs are those who view every experience – both good and bad – as an opportunity to grow, to develop, to expand, and to innovate. They see every life lesson as a stepping stone to their goals and learn quickly to adapt to every and any situation to turn it to their advantage.
Networking is also an important part of growing a business and in that respect, each experience in the eyes of an innovative entrepreneur is a golden opportunity to meet new people, to connect, and to build up a network of contacts. Very often, this has proven an invaluable and key factor at a later stage as the business in question can fall back on the database of contacts gathered over time and utilize this in expanding that business’ reach and market prominence.
Building a good team is an essential part of establishing a great business that can compete in the marketplace, and again in this respect, experience-as-opportunity plays a big role. Some of the most trusted and important team members of the most successful startups joined from unconventional sources, not just applying for a job in a formal capacity. In networking, the entrepreneur met that future team member and saw the potential in them as an ally and co-worker. That ascertaining of someone’s skills and talent can come anywhere at any time, and it takes a gifted entrepreneur to see something in someone that can aid the greater goal they’re hoping to achieve.
The article “5 Character Traits That Will Make You A Natural Leader” might also be of interest to you. We recommend giving it a read.
2. Failure Is Still Success
There are few, if any, successful entrepreneurs who don’t taste the bitter effect of failure before enjoying the sweeter taste of success after years of perseverance, trial, and setbacks. Sir James Dyson, who invented the bagless vacuum cleaner bearing his surname went through over 12,000 prototypes before he hit the jackpot and went on to market dominance.
The most effective entrepreneurs don’t see setbacks as failure per se, but as an opportunity to learn, to adapt, to innovate, and move forward. They see it as a valuable learning curve that can educate them but what not to do next, and often give them a strong, clear idea of how best to proceed further.
In fact, such hurdles actually have proven to be the very thing that allowed invention and innovation to happen that ultimately led to success. Stress is the fertilizer of creativity, as the saying goes, and it has proven so with quite a few entrepreneurs.
3. Know Thyself
The very best entrepreneurs and CEOs are those best at self-analysis, at recognizing their own individual strengths and weaknesses, at building a great team that can shore up both, and to nurture an environment of unbridled creativity that takes into account each team member’s own traits to contribute to the greater goal.
Some CEOs have become household names, are superbly natural and charismatic communicators that have become the public face of the company, while others tend to stay in the background and let the product speak for themselves. Some are visionaries that very much lead from the front in developing new products while others rely more on teamwork and allow that pool of talent to contribute to expansion and innovation.
Everyone is different, but the very best entrepreneurs know very well what not only their strengths and weaknesses are but also those of their team. Once you ascertain what you’re capable of, then you’re capable of anything.
These 3 traits are often shared and honed by the top 5% of successful entrepreneurs. We hope their experience can help yours in achieving your goals.
The article “5 Leadership Qualities Essential for Every Manager” might also be of interest to you. We recommend giving it a read.
