Starting a business is a huge milestone for entrepreneurs, but maintaining and growing it could be a larger challenge. The journey to the top may feel like an arduous uphill battle, but putting your mark on the map is worth every second.
Comparing the success of your business to that of Bill Gates’, Jeff Bezos’, or any billionaire on the Forbes top lists, is intimidating, ineffective, or unrealistic and counterintuitive to succeeding in your business. The important lesson to take from them, however, is that even the wealthiest people in the world have experienced failure and rejection that they believed was insurmountable. Here are some lessons I’ve learned from the billionaires:
“I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.” — Jeff Bezos, CEO of Amazon
“Business is a money game with few rules and a lot of risk.” – Bill Gates, Co-Founder of Microsoft
“The reason I’ve been able to be so financially successful is my focus has never, ever for one minute been money.” — Oprah Winfrey, business magnate
“Money is just a consequence. I always say to my team, ‘don’t worry too much about profitability. If you do your job well, the profitability will come’.” – Bernard Arnault, Chairman and CEO of LVMH
Every business, whether it’s a large corporation or a small startup, has faced or is continuing to face struggles that seem too challenging to push through. In order to meet business goals or any type of goal for that matter, a business owner has to persevere and push through the obstacles that are interfering with their growth and success. In between finding the perfect employees, staying relevant with the latest technology, scouting out the right location for business, and standing out above your competitors, it can feel IMPOSSIBLE to “make it” in the world of business. One of the biggest mistakes when it comes to wanting to operate a successful business is believing that it’s “impossible”.
Two things that the billionaires quoted above had in common, it was the ability to take risks and the ability to look beyond the constraints of the current situation. It is safe to say that the main concern of most small business owners is money. Money to start their business, pay employees, cover bills and amenities, and money to allow you to feel stable overall. Though financial stability is your foundation when running a business of any kind, there are factors that contribute to overcoming the challenges of facing the impossible tasks that come with starting and owning a business. These factors include knowing when to take risks, being persistent, pursuing new leads, and taking failure as an opportunity to grow exponentially from those mistakes.
When running a business there must be a strong emphasis on hard work, active engagement and learning, and persistence throughout the growth process. I have found in my own experiences that it isn’t always easy and sometimes you don’t know if you can afford your office, your staff and then everything turns around and you’re able to do it. In adversity is where we really see what we’re made of. This is why I started Huddle Club. It’s for the little guy starting out. The small business owner who needs some small advertising, who doesn’t have the $5,000 to spend each month and perhaps has only less than $3000 for a website. I want to help small businesses grow, I know the struggles first hand and they are real.
Feel free to reach out if you have any questions about helping your small business have an extra nudge.
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