Leadership

Weekend Inspiration for the Ambitious Entrepreneurs

Here is a look at the business wisdom for the success hungry and ambitious driven entrepreneur.

1. Richard Branson:
“The best businesses come from people’s bad personal experiences. If you just keep your eyes open, you’re going to find something that frustrates you, and then you think, ‘well I could maybe do it better than it’s being done,’ and there you have a business.”
“If you can improve people’s lives, you have a business. People think, ‘well everything’s been thought of,’ but actually, all of the time, there are gaps in the market here and gaps in the market there.”

2. Arianna Huffington:
“If you’re going to start a business, you need to really love it, because not everybody is going to love it. When The Huffington Post was first launched in 2005, there were so many detractors. I remember a critic who wrote that The Huffington Post was an unsurvivable failure.”
“When you get reviews like that and detractors like that, you have to really believe in your product. When you really believe in your product, you are willing to deal with all the naysayers and persevere.”

3. Mark Cuban:
What I always ask people is, (1) is it something you love to do and (2) is this something you’re good at?”
“Then, taking that first step is always the hardest. It’s terrifying, but really, it’s about preparation. We all go through this process where you’ve got the business idea, you get that feeling in your stomach and you get all excited. Then you talk to a friend, and your friend says, ‘oh wow that’s pretty cool, I’ve never heard of anything like that. I’d buy that.’ And then you do the Google search.”

“The first thing I’ll tell you, is that just because you don’t see it on Google, doesn’t mean one hundred companies haven’t gone out of business doing the same thing. It hasn’t been done for a reason, because every company that’s tried it, has gone out of business.”
4. Robert Herjavec:
“You have 90 seconds, if you’re lucky. If you can’t make your point persuasively in that time, you’ve lost the chance for impact. Facts and figures are important, but it’s not the only criteria, you must present in a manner that generates expertise and confidence.”
“If you’re not prepared to make your pitch, you may just miss your next big opportunity.”

5. Sophia Amoruso:
Don’t give up, don’t take anything personally, and don’t take no for an answer; you never know what you’re going to learn along the way.”
“The people who told me no, were the people that eventually told me yes; so don’t forget it.”

6. Tony Robbins:
The most painful mistake I see in first-time entrepreneurs is thinking that just having a business plan or a great concept is enough to guarantee success. It’s not. Business success is 80% psychology and 20% mechanics. And, frankly, most people’s psychology is not meant for building a business.”
“My business advice? Think honestly about who you are, what you want to accomplish, and what mindset you need to have to get there. Because the biggest thing that will hold you back is your own nature. Few people are natural risk-takers or emotionally ready for the challenges of building a business. You can’t just sign up for a marathon and run it without ever training. You have to increase your capacity and become fit. Being an entrepreneur requires similar kinds of emotional and psychological fitness so that you don’t become the chokehold on your business’s success.”

7. Tim Ferriss:
“The best advice I’ve ever received is that you’re the average of the 5 people you associate with most.”
“I’ve actually heard this from more than one person, including bestselling authors, Drew Houston of Dropbox, and many others who are icons of Silicon Valley. It’s something I re-read every morning. It’s also said that ‘your network is your net worth.’ These two work well together.”

8. Guy Kawasaki:
“My best business tip is to focus on the prototype. Don’t focus on your pitch deck, business plan or financial projections.”
“If you get a prototype out and you get enough people using it, you never have to write a business plan, do a forecast or do anything like that. A prototype is where you separate the BS from the reality.”

9. Derek Sivers:
“Start now, you don’t need funding. Watch out for when you want to do something big, but say you can’t until you raise money to fund the idea. It usually means you’re more in love with the idea of being big than with actually doing something useful.”
“For an idea to get big, it has to be something useful–and being useful doesn’t need funding. If you want to be useful, you can always start right now with just 1% of what you have in your grand vision. It’ll be a humble prototype of your grand vision, but you’ll be in the game. You’ll be ahead of the rest because you actually started, when others waited for the finish line to magically appear at the starting line.”

10. Nir Eyal:
“The easiest way to tell if someone is a first-time entrepreneur is when they’re secretive about their ideas. I don’t reply to people who ask me to sign an NDA. Real entrepreneurs know good ideas are cheap and that success comes from hard work, not a stroke of genius.”
“The other big mistake I see entrepreneurs make is building a product for a customer they don’t know well. That’s why I always advise entrepreneurs to build a product for themselves–at least that way you ensure you’ve built something for a user you know intimately. All of the great tech companies of the past decade–Facebook, Twitter, Slack, Snapchat–were built by founders who were making products they wanted to use.”
Arm yourself with wisdom from these business people and make sure you evolve as an entrepreneur who can make it successful in the business world.

About the author

SPI Group

An integrated platform created to serve entrepreneurs and service providers. SPI engages with over 100,000 Entrepreneurs & Senior decision makers through a unique combination of cutting edge business magazines, high profile B2B summits and conferences, strategic alliances with Govt, business associations and government bodies. SPI also leverages the power of digital marketing and social media.

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