Photo by Natasha Hall on Unsplash
Here we are again!
I guess you could be one of those people that are curious about successful entrepreneurs. Aren’t you?
Even if you try to ignore the aura of success around them, you may still secretly admire them I know.
Of course, the next big thing is to know what it is that makes these folks damn successful.
So, don’t you think that learning from successful entrepreneurs could give you an edge? Don’t you agree that this could take away the stress of you taking decades to grasp entrepreneurial basics towards your success?
I recently recommended reading books written by successful entrepreneurs.
Today I’m going a step further on this, because my mission is to develop more successful entrepreneurs globally.
I believe that you easily remember names such as Mark Zuckerberg, Bill Gates, Sir Richard Branson, Warren Buffet etc. These are synonymous with successful entrepreneurship. Isn’t this true?
This article is about lessons from successful entrepreneurs. If you are an entrepreneur keen on scaling the heights – this is a must read.
Who does not need an easier approach to success, hinged on good lessons? Let’s consider these.
1. Incorporate fun into your business. This guy Sir Richard Branson (Virgin Group) is an entrepreneur that likes incorporating fun into business.
There are various articles about Branson participating in one form of sport/ adventure, or the other. The hot air balloon is an example.
Not many entrepreneurs can go to this extent.
Do you think the guy is crazy? Not so. Fun has lots of benefits at work, and beyond work for an entrepreneur. I mean sharpening the saw.
This article in Forbes argues that a fun-filled workplace gives a healthy work environment and also generates a real return on investment, because workers prefer such companies and their productivity improves.
So, don’t put up a very serious and screwed face always at work in the name of achieving business goals and objectives! Ok? Infuse some fun into work and watch what happens.
This is a brilliant entrepreneurship lesson.
2. Understand your business to the core. Warren Buffet (the Oracle of Omaha) – with a reported net worth of over $100.6 billion as of April 2021, gives us this vital lesson.
One of the reasons why there is a very high rate of business failure globally, is the lack of knowledge about the businesses people engage in. I’m talking about clueless entrepreneurs.
There are individuals who simply dream about a business idea, or simply see someone doing a certain business and succeeding in it – and before you have blinked an eye they have proceeded to invest in that business.
Let me give you an example here.
Imagine starting a restaurant business without knowing the challenges you will face regarding preservation of foodstuffs (equipment, power source etc). Now, this might be a very simple and no-brainer example but it sends a good signal.
You could lose quite some value by ignoring proper planning for that. Don’t you agree?
You need to have adequate knowledge about the industry you are operating in, the market, your customers, the operational dynamics to get deliver value in time to the market etc.
This implies that you need to understand your business very well to succeed.
The importance of knowledge in entrepreneurship cannot be overemphasized.
You can easily solve problems, deliver real value to the market, create customer satisfaction, make better decisions, remain relevant, minimize risk, etc. from this.
3. Design philosophy. Steve Jobs’ design philosophy involving simplicity, focus, minimalism, friendliness and precision is historical.
I read about Jobs’ approach to design as narrated by Walter Isaacson – and candidly – I was very much impressed.
Jobs was exploring situations where science could intersect with art.
It’s not a surprise that he came up with wonderful tech products that are darlings to hundreds of millions of people globally.
Do you realize that as an entrepreneur, you could take this philosophy beyond your physical products into your office design, services etc.?
This is another brilliant lesson from a very successful entrepreneur.
4. Think ahead of the time. Bill Gates of Microsoft is another guy who has added quite some value to humanity. I’m even using his ideas now as I type this blog.
I know that the guy has generated quite some negative energy of recent, but this should not make us reach a very harsh judgement. Don’t you agree with me?
Again, Gates was at loggerheads with Jobs regarding some business philosophies but I’m not going into that for now. Ok?
The lesson is – look into the far future when doing business. Period.
This is how Gates dominated the tech world and will continue to do so possibly for the next decades. I’m not a pessimist but my mind cannot easily see products that can quickly replace Microsoft products in the near future.
Bill Gates’ prediction about mobile devices, internet TVs, and natural user interface etc. very much materialized into reality and is still ruling the world today.
This is a successful entrepreneur giving us another vital entrepreneurship lesson.
If you like to get your entrepreneurial brain stuck in the present or the past, that’s up to you!
5. Don’t find fault. Find a remedy. I like this idea from Henry Ford.
Take responsibility. Stop pointing fingers. Find a solution to the problem or challenge at hand.
Does this ring a bell?
I guess you can recall some people at work places; people that are literally specialists in complaining, pointing fingers and yet without any new ideas or solutions. It sucks!
Never be an entrepreneur who is always complaining. Do you get me?
Even if you think an employee is very opaque – first acknowledge the fact that you recruited that employee.
I can hear you shooting back at me – someone else recruited that opaque guy, you argue. Ok – that someone else could be your manager or your consultant, and again, you engaged them to engage opaque guys because they are clueless. Not so?
You might also be clueless in some ways! We could go on and on – but the point is clear.
I strongly advise you to read Extreme Ownership by Jocco Wilink & Leif Babin. This is about US Navy Seals in military action but it is a very good reference for taking responsibility and not passing the buck.
6. Don’t Let Your Beginnings, However Humble, Dictate Your Future Success. Again, we have this guy Jack Ma of Alibaba Group. A very visionary modern day entrepreneur.
One of Jack’s brilliant entrepreneurship lesson is this – your hardiness, spirit and grit form the critical determining factor between success and failure.
When you are the only person out of 24 people rejected for a job at KFC then you can appreciate this point.
Jack suffered so much rejection – you just need to research this by yourself and get the full gist.
Go for it, Mr. Entrepreneur! Never mind your parent’s history, the remote swampy village you originated from, the school you attended (with a name that does not appear on all search engines), your low or average IQ, etc.
Photo by Aleksandar Popovski on Unsplash
You can determine your future. What a great entrepreneurship lesson
7. Don’t try to be superhuman. Mark Zuckerberg of Facebook advises us not to try to be superhuman.
Don’t be afraid of mistakes. Make mistakes and learn from them. Keep on going. Take risks. Follow your heart.
Candidly, these are great lessons for every entrepreneur. Am I communicating to someone today?
You are from planet earth – a mortal with limitations like any other. You are full of mistakes and weaknesses but these should not stop your entrepreneurial progress.
If you don’t like this piece of advice then don’t even try entrepreneurship.
8. To succeed, you need HUNGER. Sometimes literally… Zarra billlionare Amancio Ortega gives entrepreneurs this hint.
This son of an itinerant railway worker talks of meals of potatoes only in his early life.
Extremely basic upbringing and history – but the game changer was that he craved for success.
When you don’t crave enough for success as an entrepreneur, you might not have the drive to succeed extraordinarily. Hunger for success is a driving force.
You need to operate beyond your comfort zone. By the way, you could take a look at my book entitled Beyond The Comfort Zone where I documented some points regarding the need to operate beyond our comfort zones.
Let me proceed now to conclude my blog for today with the last entrepreneurship lesson.
9. People don’t buy products and services – they buy stories and relationships. Here I’m referring to Seth Godin. Seth’s name might not appear on any google search for very successful entrepreneurs, but I cannot miss him here.
This guy has written some fantabulous titles such as Purple Cow, The Dip, Tribes etc. Again, these are books I strongly recommend to any entrepreneur.
These books dwell on dominating the market. You know that without the market your entrepreneurial dreams cannot go far. Don’t you?
If you want to dominate the market with your products and services, please read these books and other works of Seth Godin.
You will certainly very much appreciate some of the pieces of wisdom here.
In summary, the above are brilliant entrepreneurship lessons from the most successful entrepreneurs. I thought I should share them with you.
Haven’t you enjoyed this post today?
Keep checking this blog – you never know – I could write more on this topic soon.
Indeed, these are very useful lessons you need to succeed as an entrepreneur – and please -share these lessons as much as you can, as we build our own tribe of followers and fans. Additionally, feel free to ask any questions, seek clarification from us if in doubt, or post a comment. Ok?
Till then, and stay safe!
The Wise Entrepreneur