Key Messages
The Mindset Entrepreneurs Need To Make It Through The Roller-Coaster Of Starting A Business
If you have ever wanted to become a successful entrepreneur, then this book is for you.
It gives you an invaluable insight into what it’s like to ride the rollercoaster of emotions that comes with being an entrepreneur.
Through its pages, you’ll learn how to keep motivated during the highs and lows, and become a resilient leader while discover how to be a great entrepreneur through both the good times and bad.
You’ll explore why it is critically important to have something that drives behind your ventures; why former president Barack Obama isn’t deterred by disapproval from some American citizens; why it pays off to be the least knowledgeable among your team; and more!
With these essentials under your belt, you will be one step closer towards making your business come alive.
Using Passion To Get Through The Tedium: A Key To Success
Are you looking to become an entrepreneur? If yes, then you’ll need the right motivation to help you on your journey.
Money alone won’t be enough to see success – and that’s where passion comes in.
As Bono from U2 discovered, business is only 5% fun while the other 95% of it is slogging through mundane yet necessary tasks.
So by feeding your inner passions and desires, you can get up each day and give it your best without feeling overwhelmed or fatigued.
But how can one do that? One way of finding what sets your heart alight is to take a good hard look at the things that make you angry and strive to make a change for the better.
History has taught us this over and over again, with Mahatma Gandhi taking a stand against injustices in India, Nelson Mandela in South Africa’s struggles for freedom, as well as Martin Luther King Jr.’s fight for civil rights in the US; each of these extraordinary leaders found their causes ignited by their rage against what was wrong in society.
However, being passionate about something doesn’t mean much if you don’t know the ins-and-outs of whatever industry or profession related to said passion.
For instance, business magnate Warren Buffet understood that investing money can be a tricky endeavor so he stuck with what he knew best – which is why didn’t buy into internet companies during the 1990s dot-com bubble trend (spoiler alert: It obviously didn’t end too well!).
Therefore remember: Passion can help unlock success on your entrepreneurial road but only if it’s backed up with thorough knowledge and expertise!
It’S Okay To Be The Odd One Out And Follow Your Dreams Despite Disapproval
It’s all too common to be so caught up in the naysayers’ negative comments and criticism, that you forget to follow your dreams.
The best way to stay on track is to just ignore these self-conscious people who are only trying to bring you down.
Success often comes with disapproval and you have to understand that it doesn’t necessarily mean that you’re doing something wrong.
Barack Obama is a prime example – even after winning the U.S Presidential election for the second time, only 51 percent of voters had supported him – still making him one of the most powerful people in the world!
It takes courage and thick skin not to succumb to ridicule.
Take Arnold Schwarzenegger, a young man whose ambition was met with laughter; today, he is one of the highest-paid actors thanks to Terminator launching his career.
Even when he ran for Governor of California, many thought it was a crazy decision yet here he is – some several years later – proving them wrong thanks to courage and confidence!
So embrace any form of negativity or disregard from others as they step out of their comfort zone and achieve fulfillment by following their dreams!
Prioritize Sales: It’s The Key To Making A Successful Business
As an entrepreneur, it’s easy to feel overwhelmed by all the duties on your plate.
When prioritizing, start with sales; this should be your top priority, because the success of a product is based 10 percent on its quality and 90 percent on how it’s marketed and sold.
Just take McDonalds for example – the most frequented restaurant in the world isn’t a five-star Michelin rated spot but rather McDonalds which has become successful due to its strong focus on marketing and sales.
If you are uncomfortable with the word “selling”, try replacing it with “help”.
Think about how your product aids people and addresses their needs – understanding this will help you give them a personalized pitch depending on what they are looking for.
For example, a real estate agent such as John Lennon could talk up the building’s amazing garage if he knew his client was a vintage car collector.
Overall, as an entrepreneur, making sales should be at the top of your list!
The success of your company depends upon consistently performing well in this area, so don’t delay in getting out there to make those important sales!
The Importance Of Hiring The Right People For Your Business: Why It Pays To Be The “Dumbest Person In The Room”
Your employees are integral to your business’ success, so it’s important to take the time to hire the best people for each job.
The average company spends 65-80% of their budget on salaries and wages, so hiring talent that is highly skilled in their respective areas is necessary to get the most from those investments.
Highly talented people can make all the difference between a business succeeding or falling short.
Airlines are a great example – two companies may offer virtually identical planes, yet the amount of empowerment and care provided by the staff will be infinitely different.
But here’s something that might surprise you – when hiring people for your business, you should aim to be surrounded by individuals who are better than you.
Ponder this advice from the CEO of a multi-billion dollar telco: strive to be the dumbest person in the room.
The reasoning behind this is that entrepreneurship isn’t necessarily about having an amazing IQ or extraordinary capabilities – but it does require great discipline in sourcing top calibre staff.
Therefore, whenever you’re feeling like you could outsmart your marketing director or suggest more creative solutions than your CFO – start looking around for someone new!
In conclusion, building a successful business relies heavily on recruiting and retaining top performers – even if they’re smarter than you!
As Leader Of A Company, You Are Always Setting An Example: Show That You Take Responsibility For Your Employees’ Mistakes
As a leader of any organization, it is your responsibility to be the example for others.
You have to take ownership and accountability for all of your company’s mistakes, as everything comes down from you ultimately.
Your employees look to you and they mirror the standards you set.
TakeHoward Schultz, the CEO of Starbucks, for example.
In 2008, the company faced some hard times and he had to make an unpopular decision: closing 600 stores across the country and resulting in thousands of layoffs.
This was certainly an emotionally difficult decision to make due to his long-standing relationships with many of these people he had been working with for over 15 years!
But it was a necessary one in order for Starbucks’ success that benefitted everyone in the long run.
It is up to leaders to do what is best for their company even if it isn’t popular; be willing to take risks and make tough decisions so that your organization can continue running smoothly.
And remember – when you are leading an organization, your team members are always watching even when they don’t seem like they’re listening – make sure that you set a good example that reflects positively on your organization.
Taking ownership and responsibility will show everyone around you that you value yourself, your business partners and colleagues, creating a culture of trust within the organization.
With these strong foundations in place, entrepreneurs will surely have a smoother ride on their roller coaster journey!
How To Improve Productivity And Achieve Success: Focus On Your Priorities And Avoid Distractions
Productivity means having a clear focus and understanding your priorities.
To get the most done possible, you need to ask yourself: What is really important to me?
Take successful entrepreneurs such as Donald Trump and Warren Buffet for example – their ability to prioritize their goals and resources is a key factor in helping them succeed.
As Buffet puts it, success comes from being able to say “no” to all the hundreds of amazing opportunities he’s presented with, and carefully isolating the one “yes”.
His method for setting priorities is effective yet simple: First write down all your priorities, then narrow the list down until there are only three left.
Try not to veer into other tasks which may be “important” but do not necessarily reflect what you value.
The remaining three become your new primary focus!
At the end of the day, work smarter by doing what matters most – don’t let distractions waste your time or energy.
By finding what’s important to you and focusing on that, you can easily maximize productivity and make those 24 hours really count.
How To Conquer Fear As An Entrepreneur And Excel At Your Work
One of the keys to achieving your full potential as an entrepreneur is conquering your fear.
The unknown and uncertainty are two things you’ll face every single day, and if you don’t face them head on, they can keep you from reaching success.
Too many entrepreneurs have let fear prevent them from rising above their potential.
It’s important to understand your fear in order to overcome it.
A lot of the time, we blow our fears out of proportion because we anticipate a bad outcome instead of looking at reality.
Our brains still think there will be predators when there aren’t any, which causes us to be fearful even in situations that aren’t actually dangerous.
That’s why it’s important to remind yourself that there is no real danger when dealing with customers or speaking publicly; the only actual threat is allowing fear to stop you from doing what needs to be done.
To give yourself a boost against your fears, focus on the task in hand rather than worrying about the results generated by the task.
For example, if Michael Jordan had been thinking about how his career would be affected when he was taking a game-winning shot instead of focusing on making the shot itself, he wouldn’t be one of the best basketball players ever!
By concentrating just on what needs to get done, it’s much easier to conquer fear and excel at whatever you’re doing.
Conquering fear gives entrepreneurs the advantage they need in order
Trust Your Own Judgment In Pursuing Your Dreams To Achieve Success
We all have dreams of what we want to be or become.
But too often, we let our dreams slip away and get distracted by other people’s successes.
That’s why it’s important to focus on your own goals and trust your own judgment – that way you can become the person you always wanted to!–
Take for example, world renowned athletes like Andre Agassi.
Despite being at the top of his game and number one in the world, he still wasn’t finding the passion that drove him because he was living someone else’s dream.
He had to find his own motivation and inspiration – founding a school for disadvantaged children – before he could climb back up to first place again.
The same goes for Jeff Bezos, who years ago was a successful Wall Street banker but had a vision to open an online bookstore.
Many of his friends thought it was too risky but Bezos followed his own judgment and quit his job to start Amazon.
No matter what decision you have in front of you today, if it involves following your dreams and trusting your judgment, ask yourself whether you’ll regret not taking that plunge 30 years down the road- or better yet- do it now!
By making this move, you put your future in your hands so that today you can become the person that you truly want to be!
Wrap Up
The Entrepreneur Roller Coaster is the perfect book for anyone thinking of starting their own business.
It outlines the true challenges that come with entrepreneurship that may not be immediately obvious – conquering fear, defining priorities and learning to follow your dreams.
The main takeaway of this book is that it’s important to decide on your number one priority and stick to it.
Take a few moments each day to identify what you want to accomplish, then make sure you complete that task before working on anything else.
Focusing on one task at a time will help you get more done and feel better about your progress as an entrepreneur.
Bottom line: whether you’re just starting out or have years of experience with businesses, this book provides insight into what successful entrepreneurs do to succeed and help them reach their goals.
