As an entrepreneur, you can take many steps to position yourself and your firm for success at each business growth and expansion stage.
To learn more about how he accomplished his success, I chatted with Rob Moore, the Disruptive Entrepreneur, CEO and co-founder of the UK’s biggest property coaching organization, and presenter of two of the UK’s top business podcasts. He discussed the techniques that helped him become a multi-millionaire by 30 and the founder of many lucrative businesses. Here’s what he has to say about it:
Failure and rejection are unavoidable in business. What distinguishes successful business owners from failed ones is whether or not they embrace these two difficulties or do everything they can to avoid them. “If you look at someone successful, whether they are a millionaire or at the top of their field, you will see certain common characteristics. One example is that “no one successful has ever avoided failure or rejection,” according to Moore. Success comes from accepting failure with open minds and using it as an opportunity to learn and grow.
Others recommendations for steadfastness combined with your wisdom
There’s a time and place for outside advice, but when it comes to making really strong decisions, it’s ultimately up to you. Don’t do anything merely because someone has instructed you that it’s the proper thing to do; instead, consider their advice with your internal understanding and instinct. “When it comes to approaches and methods, you want to stand on the shoulders of giants and model the features of the greats. “However, when it comes to your passion or your vision, listen to your inner calling rather than other advice,” Moore advises. It’s crucial to strike the right balance between the outside and the inside, mentor advice, and your internal expertise.
Don’t waste your time chasing fame and money
Moore emphasizes that fame and money should not be your motive for pursuing anything. “Fame and money will not be the goal of your work; they will be the outcome of performing it well,” he explains. “You must provide useful services and be a beneficial human being or company to as many people as possible. People will never give you money if they believe you need it for fame and wealth. People will give you money if you have something useful and valuable.”
Moore also points out that celebrity and riches aren’t always good indicators of success. “You can’t gauge your worth by your number of followers, your celebrity, or your riches. “It’s critical to evaluate yourself in terms of your value,” he recommends. Your value is determined by your impact and ability to help as many people as possible.
Don’t get carried away by the “shiny object” mentality
It’s easy to be sidetracked when building or growing a business by opportunities that promise a quick influx of cash or instant virality and celebrity. You must think about each option in terms of its long-term viability rather than how appealing it is right now. “Don’t ask what’s going on to earn the most money in the shortest amount of time or what’s the most popular business model right now that can make me rich quickly.” “These are just diversions,” Moore adds, adding in most cases, these difficulties will only provide short-term benefits rather than long-term profits.
Selflessness and selfishness must be found in the proper proportion
According to Moore, optimal progress happens when selfless and egotistical motivations are balanced in each business endeavor. “When you achieve the positive consistency of each, you get what’s called true change, and true change is durable and scalable,” he continues. True change occurs when you generate a decent profit and your prospects believe they are getting a good deal, balancing the scales. You aren’t being egotistical by mercilessly overcharging prospects to make a profit, and you aren’t being unduly altruistic by giving things away at such a low-value level that your cash flow is simply treading water.
Building a business is fundamentally risky, and you must be willing to take risks to succeed. However, there is one condition to taking risks: your risks must be measured. Don’t just go into anything without first weighing the chances of success and failure, as well as the cost and time commitment.
I’ll leave you with a few more wise words from Moore: “If you don’t risk anything, you risk everything.”