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Entrepreneurs define business success and share their tips

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As an entrepreneur, I’ve painstakingly learned the importance of heeding the best business advice I’ve received from many of the world’s top entrepreneurs. The bottom line: It takes a lot to start a business and grow it to profitability. Funny enough, the most impactful lessons have come from my biggest failures though. Read 10 Best Survey Apps That Pay in Gift Cards (And Cash) in 2020

All in all, despite receiving great business advice and success tips back during my college days, I’ve gone on to learn more about how not to start a business through my experiences. Still, my early failures haven’t stopped me in learning from my mistakes and moving on to become gainfully self-employed.

Over the past five years, I’ve gone from learning how to start a blog and growing it to more than 500,000 monthly readers. I’ve launched online courses, started a profitable freelance business, built physical products and more.

I grew my side business to over six figures in revenue before quitting my job in 2020.

Now, I’m teaching other entrepreneurs how to do get started in my free course, Find a Profitable Business Idea today. But this post isn’t really about me (surprise). And I want to start by answering an important question…

Why put much stock in business advice?

Entrepreneurs define business success and share their tips

I’ll be the first to tell you that each and every one of these entrepreneurs I’ve interviewed to share their business advice with you—have had their own unique journey to building a successful business. They’re all different. Some come from backgrounds of wealth and influential connections—while others have built empires starting truly from nothing.

Don’t take the business advice you hear as gospel to be followed word-for-word. Rather, use it as a tool to inform your big decisions and major strategic moves within your own business.

The reason you should care about the business advice other successful entrepreneurs have to share with you… is that their experiences and words of wisdom may just come in handy one day. I worked hard to bring advice from a diverse sampling of the world’s most successful and respected entrepreneurs, so you’ll be prepared to start a business in today’s climate.

From Richard Branson to Arianna Huffington, Tim Ferriss, Mark Cuban, Sophia Amoruso and many more, the business advice from this group of entrepreneurs is collectively worth an incalculable amount of time and money.

They’ve created products & services we’ve all heard of, turned entire industries upside down, redefined what it means to be successful when you start a business and many have also written business books or taught online business courses about it. Suffice it to say, their business advice is worth its weight in gold.Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to an entrepreneur, but not everyone can find one in person. Read The Strategies Proven Ways To Make Money Online Fast In 2020

How Do You Define Success


Here were some of the biggest trends in their business advice:
  • Business ideas alone are worth very little. If you want to start a business and become successful with it, you need to solve meaningful problems. Execution is everything in business.
  • Don’t just learn how to start a blog (or any type of business) unless you’ll be doing something you truly love and are good at, or unless you can dedicate yourself to becoming that expert over the coming years. And if you do want to start a blog, be sure to get started on the right foot with the advice from one of these blogging courses.
  • Becoming successful in business is more about your mentality, psychology and determination than it is about finding little tips, tricks, hacks and exploitations in the marketplace.
  • Start today. The only true way to learn is by doing and you can’t afford to sit around waiting for funding, hoping someone else will come along to help you execute on your idea or complain that you don’t have the time. Making excuses won’t help you start a business and it sure as hell won’t help you create the lifestyle you want for yourself.
  • Launch before you feel ready. If you wait until your product or service feels perfect, someone else will already be doing a better job of helping your customers solve their problems. Validate your business idea by launching fast, bringing on a small group of paying customers and adapting to make your solution great for them over time.
  • How you choose to manage your time and decide which opportunities to pursue will greatly impact your success when starting a business. Outsource everything you can, so that you can focus on doing what only you can do in your business.
  • Do everything in your power to avoid spending money when you start a business. Build a lean solution that provides value to your customers and only spend money on the absolute essentials at the moment you need them.
  • Never stop building meaningful relationships with customers and other people in your industry. Choosing to instead view competitors as potential partners and collaborators can positively impact your business in a big way.
  • Focus on setting & achieving small incremental goals rather than trying to start a business and instantly build your vision of what the company should be in the years to come. Setting realistic goals and milestones is a major component of building long-term success. This mentality is how I went from learning what a blog is, to eventually choosing a website builder to growing my blog with tactics like guest blogging and social promotion.
  • And much, much more…

Whether you want to start a business for the first time or you’re an experienced entrepreneur, you’ll find incredible value in the best business advice and success tips these entrepreneurs have to share today—some of them even made their way over to my list of the best motivational quotes I’ve heard.

21 Success Tips for Aspiring Entrepreneurs

If you haven’t yet found your personal business guru, here are 21 tips for young or aspiring entrepreneur to help get you started.

1. Challenge yourself.
Richard Branson says his biggest motivation is to keep challenging himself. He treats life like one long university education, where he can learn more every day. You can too!

2. Do work you care about.
There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.

3. Take the risk.
We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.


4. Believe in yourself.
As Henry Ford famously said, “Whether you think you can, or think you can’t, you’re right.” Believe that you can succeed, and you’ll find ways through different obstacles. If you don’t, you’ll just find excuses.

5. Have a vision.
The founder and CEO of Tumblr, David Karp, notes that an entrepreneur is someone who has a vision for something and a desire to create it. Keep your vision clear at all times.

6. Find good people.
Who you’re with is who you become. Reid Hoffman, co-founder of LinkedIn, noted that the fastest way to change yourself is to hang out with people who are already the way you want to be.

7. Face your fears.
Overcoming fear isn’t easy, but it must be done. Arianna Huffington once said that she found fearlessness was like a muscle -- the more she exercised it, the stronger it became.

8. Take action.
The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

9. Do the time.
No one succeeds immediately, and everyone was once a beginner. As Steve Jobs wisely noted, “if you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in your company.

10. Manage energy, not time.
Your energy limits what you can do with your time, so manage it wisely.

11. Build a great team.
No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.

12. Hire character.
As you build your team, hire for character and values. You can always train someone on skills, but you can’t make someone’s values fit your company after the fact.

13. Plan for raising capital.
Richard Harroch, a venture capitalist, has this advice for upcoming entrepreneurs: “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

14. Know your goals.
Ryan Allis, co-founder of iContact, pointed out that having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.

15. Learn from mistakes.
Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success -- even though you initially failed.
16. Know your customer.

Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.

17. Learn from complaints.
Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.

18. Ask for customers’ input.
Assuming what customers want or need will never lead to success. You must ask them directly, and then carefully listen to what they say.

19. Spend wisely.
When you spend money on your business, be careful to spend it wisely. It’s easy to spend too much on foolish things and run out of capital too soon.

20. Understand your industry.
Tony Hsieh, the founder of Zappos, once said, “Don’t play games you don’t understand, even if you see lots of other people making money from them.” Truly understanding your industry is key to having success.

21. Deliver more than expected.
Google's Larry Page encourages entrepreneurs to deliver more than customers expect. It’s a great way to get noticed in your industry and build a loyal following of advocates.

Being a successful entrepreneur takes a lot of work, a lot of vision and a lot of perseverance. These 21 tips, from entrepreneurs who have already found success, will help you navigate the path much more easily.

What’s your favorite success tip for entrepreneurs? Share it below in the comments section below.

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