Here are five life tips for entrepreneurs that I like to share with new small business owners.
Always provide value for value. If you get a great intro, repay the favor with an intro of your own, etc. The more value you provide to others, the more you’ll get in return in aggregate.
Avoid people with external locusts of control. These are people that always blame other circumstances on their failures. This filter alone will save you a tremendous amount of heartache both personally and professionally.
Surround yourself with other entrepreneurs you want to be like. You are the average of the five people you spend the most time with. With audio books, and plenty of online content, you can have lunch with the most successful people in the world, everyday.
Don’t let others judgement of you dissuade you. No matter what you do in life, you will have haters. The more you do, the more that is true. You’ll have unhappy customers, you’ll have people who gossip about you. Everyone does. If you don’t, it’s likely because no one knows who you are. The best steak restaurants in the world have people who complain about the steak after they’ve eaten 90% of it. Plan on 2-3% of people hating you and be OKAY with that. You don’t want to do business with those people anyway. Focus on your fans, on your tribe.
Give it your all. Once you set your sights on your path, give it absolutely everything you have. Hard work compresses time – getting you from where you are to where you want to be in a shorter amount of time. Hard work is what will set you apart from everyone else because while most people are willing to sprint, few are willing to run the marathon.
I grew up in an a family business. My dad was an entrepreneur and my mom supported him through each step. That meant learning how business worked at a young age. It is a topic of family discussion at the dinner table. When the business is growing, it’s a part of your weekends. It’s your summer job. It becomes ingrained in you. These are the roots of my entrepreneurial journey.
For five years , I worked as much as I could for my family’s business and mowed 3-4 yards per week, essentially running a micro business and cutting my teeth with pricing, recurring contracts, and customer satisfaction.
However, when I was 16 years old, I was on a fast track to becoming a doctor. I had straight A’s, I had been fascinated by medicine from a young age. I had scoped out the colleges I wanted to go to, and dreamed of being an orthopedic surgeon. That was, until I started meeting several who were not happy, were not fulfilled, and were all getting into business ventures.
Around that time, that I received my first copy of the book, “Rich Dad, Poor Dad” by Robert Kiyosaki. The book changed my mindset. I stopped thinking about the impact I could make as an individual and started thinking about creating an impact with systems.
It’s my belief that entrepreneurship is the Archimedes lever. Becoming an entrepreneur allows you to achieve more than you would ever be able to as an individual.
It was that realization that put me on my path to filing my first LLC at 18 years old prior to going to Ohio State University where I would get into the world of startups.