5 Insights from Successful Entrepreneurs
If you want your startup, or your existing business, to take off, your best bet is to read up and learn from those who have come before you. There is a wealth of knowledge out there from some of the smartest business men and women around the world. You can buy their books if you want, but the majority of that knowledge can be found online for free. To get you started, your accountant in Billings, MT shares 5 inspiring insights from some of the best entrepreneurs around.
Always be Selling – Mark Cuban cannot emphasize this enough. In his book How to Win at the Sport of Business Cuban states “In business you’re always selling…” The idea is that you can’t just sit back and hope for the best. You have to sell your employees on the idea so they can sell the clients and customers. No matter what you think, you’re the brand ambassador and you have to make it happen.
Failure is an Option – Most understand that failure is not something to be strived for. We have been taught to avoid it at all costs. But what we haven’t been taught is to learn from our failures. Bill Gates explains that celebrating success is great, but “it is more important to heed the lessons of failure.” Every great inventor, business person, athlete, or other prominent and influential person has failed repeatedly. The difference is that they learn from those failures.
The Sky’s the Limit – I’m sure we have all heard this adage before; or the similar “shoot for the moon because if you miss at least you’ll land among the stars.” They’re catchy but don’t really mean much. Oprah Winfrey expounds when she says, “Every time you state what you want or believe, you’re the first to hear it… don’t put a ceiling on yourself.” Goal setting is important; but if we set tiny goals we will be satisfied with tiny results. Aim bigger from the start and you’d be surprised what you can accomplish.
I’m not Smart – The most important thing an entrepreneur can realize is that they don’t have all of the answers. Russell Simmons, the founder of Def Jam Records, knows this and stated, “I’ve been blessed to find people who are smarter than I am, and they help me to execute the vision I have.” From payroll services, to legal work, to website work, you shouldn’t do it all because there is no reason to be an expert in every area. Focus on what you know best, and outsource the rest.
Start Small – Many big name companies that you know started out in a garage, a basement, or somewhere else inconspicuous. The reason is that “you don’t need to have a 100-person company to develop that idea.” Don’t take my word for it; take it from the founder of Google, one of the world’s leading tech companies. Take your idea, develop it, and add employees and resources as needed.
Building your business should be an adventure and a journey. There will be bumps along the way; there will be victories and setbacks. You will see your dreams grow and see them crushed, only to rebuild them slightly different. Take it from those who came before you, those who are likely far smarter than you, to show the way.
Practical Taxes is a full service accounting firm in Billings, Montana. We can do monthly accounting, payroll services, tax preparation, business consultation, and a whole lot more. This helps free you up to grow your business, focus on your business, and do what you do best. Call us today at 406-894-2050 to learn more about how we can help you grow.