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I’ve recently been studying successful entrepreneurs and what sets them apart from everyone else. Why is it that some people are able to build multiple million dollar businesses and others can’t even make a hundred dollars? What I’ve found is that almost all successful entrepreneurs do similar things and have similar characteristics.
This obviously means that we should take notice. If we want to be successful we need to follow in their footsteps and take what they know and do and apply it to our businesses.
We can use their knowledge and avoid failing like they did. We can find out what works and what doesn’t. We can model success and cut the learning curve in half. This is why it’s so important to watch and analyze these successful people. Here are some of the common characteristics that these people have. Take a few of these and apply them to your life. Let’s get started…
Have the right mindset
Want to be successful? This is where it starts. If you want to be successful you need to have the right mindset. You need to think and act successfully. If you think you WON’T be successful then that’s exactly what will happen.
If you aren’t where you want to be at in your business or life then you need to change your mindset. I can guarantee you that if you do this you will see results. If you want to win, you have to think about winning. If you think you might lose, you probably will.
If you aren’t getting the results you want, you need to develop the right mindset. This means you’re missing something. Your mindset is missing that killer instinct, it’s missing the winning attitude. Tell yourself you can and you will.
Have the right why
One of the best books I’ve read is called Start With Why. This book was about finding you WHY in life. By finding your purpose, raising your standards, and having a mission, you will develop endless motivation and be more successful.
People don’t follow you because of what you do, they follow because of why you do what you do. In order to be successful, you need to know why you’re doing what you do. If you want to make more money, Why? If you want to travel the world, Why?
People end up giving up or losing because they don’t have the right why. They don’t really have a reason for wanting to do something. They just think that more money would be cool, but if they don’t know why they want more money, chances are they will fail. Find your why and develop a business around that.
You’ve probably heard the expression: “it isn’t about how hard you hit. It’s about how hard you can get hit and keep moving forward; how much you can take and keep moving forward”.
Business is full of ups and downs. You will have many successes and many failures. What makes you a good entrepreneur is how you bounce back after failure. You need to be relentless. No matter what gets in your way, you will continue pushing forward until you have success.
Successful people won’t be stopped. Nothing will get in their way and nothing will prevent them from achieving their goals. Don’t be afraid of failure. Learn from it and grow. You will know what not to do next time and you’ll be one step closer to success.
Be relentless in your life. Don’t let anyone tell you-you can’t do something. Don’t let anyone get in your way. Find where you want to go and commit to getting there, no matter what.
Focus on 1 area at a time
Don’t follow shiny object syndrome. This is a major reason most people aren’t successful in online business. There are so many different ways to make money, so people jump from one thing to another. They start one thing, try it for a bit, and then move on to something else. You CANNOT do this if you want to have success.
What I’ve found extremely useful for me is to stick with one thing for 4-6 months. In those months I learn everything I possibly can and apply what I learn. If I don’t see results after 4 months then I’ll move to something else. If I have results I set up a system to automate the process and then learn something new.
Too many people don’t focus their time on one goal and this is what causes them to fail. Every new idea of making money changes their focus and they never commit to one thing.
If you learn one thing from this let it be: “commit 100% of your time and focus on one goal for 4-6 months”.
Believe in yourself
Another thing I found common in successful people is that they believe in themselves 100%. They are full of confidence and they know they will be successful. There isn’t a doubt in their mind and they will make it work no matter what.
If you don’t believe that you can do something, how can you expect to succeed? The short answer is you won’t. If you want to win in life you need to believe in yourself and have a winning attitude.
Even if you do fail, it doesn’t matter. You will learn and grow from that. You will move forward because you are confident in your abilities and you know you’re one step closer to that success.
What would you do today if it was your last day? What would you do if your business would either live or die tomorrow and what you did today determined that? This is the way you need to run your business. Especially at the start, you need to live and breath your business.
You need to link pain to failure. You need to find something that drives you to be strong and relentless with your business. Pain is the ultimate motivator, so if you can link pain to failure, you will have endless motivation to get stuff done.
Think long term. Build a business. Don’t hustle
What’s very important is to treat whatever you’re doing like a business. Focus on building a long-term business rather than jumping from one thing to another. You don’t want to constantly be moving to what’s popular today and something different tomorrow. Focus on one thing, build it, master it, automate it, and then move on.
It doesn’t matter if you’re doing Kindle publishing, affiliate marketing, stocks, or E-commerce. You’ll have much more success if you treat it like a real business and focus long term.
What I’ve found extremely helpful is to grow your business quickly. This might not be the best thing for some businesses but I’ve had a lot of success doing this with my online businesses. Because I focus on creating different passive income streams, the quicker I can master and automate the process the better. For example, instead of spending a year mastering Kindle publishing, I found that I can grow a lot faster if I spend 6 months on just kindle and then 6 months on something else.
If you spend your time focusing on too many areas at one time it will take you a lot longer to grow. Spend your time on one thing, master it and then automate. I think this is the key to maximum growth.
Find what the people want and give it to them
If you want to fail in business, create something YOU think people will want. I’ve seen this too many times. People always think they have the best idea for a business. They spend time and money creating something and guess what? Nobody ends up buying it.
This is the quickest way to fail in business. By not doing the proper research you won’t even know if people will buy. Step 1 should be: find what people want and step 2 is: create the product or service. Doing this will prevent wasted time and money. By finding your buyers BEFORE you create the process, you will be setting yourself up for success. Do this and give them massive value and they will be a customer for life.
Master communication and persuasion
The most important skill an entrepreneur can have is copywriting and sales. If you aren’t able to sell, how do you expect to get customers? How will you be able to make any money? You can have the best product out there, but if nobody knows about if you won’t sell any. The saying: “Build it and they will come” is a complete myth.
A lot of people don’t like selling because they have a negative feeling towards it. People don’t want to be known as a sales person because society has negative assumptions about them. Nobody likes or wants to deal with a used cars salesman.
This is what we need to get away from. If you have a business you need to sell what you offer. You need to think that you are giving your customer value and without your product or service they won’t achieve what they want.
Continually grow and learn (especially mentors)
“If you’re not growing your dying”. Chances are you’ve heard this expression before. It basically means if you don’t grow yourself or your business you will end up dying off because someone else will come and take your place.
This is why I constantly read books and attend seminars. You need to learn new ideas and strategies and apply them to your business. This is the key to long-term success.
Build a team
If your business is growing fast you can’t expect to do it on your own. This is when you need to start building a team. You have to stop doing the little repetitive tasks that don’t add to your business. Your time is now worth a lot more than before and you can’t afford to spend your time on little tasks. You need to focus more ON your business and not IN it. You need to hire people to take care of these small tasks. This is how you leverage your time for maximum growth.
If you can outsource and automate a process for pennies, why wouldn’t you? It’s an absolute no-brainer. Spend your time on what actually matters and outsource the rest. You will see massive results from this.
Thanks for reading. Share and comment below if you have any questions. Apply what you just read right now. Start implementing some of these in your life and business and see the results. Don’t wait, start right now.
Let me know if you have any thoughts or questions in the comments below.
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