Author: Jeet Banerjee

This is a guest post by Tyler Basu.

The majority of the population subscribes to a very common formula for approaching life. That formula is this: do well in school, so you can go to college/university, so you can get a good job. While that approach may have been wise in an early time, in the 21^st century it is not the wisest approach, at least from a financial perspective.

The statistics reveal the flaws in this approach. The average adult changes careers 5-7 times, often due to forces beyond their control (layoffs, outsourcing, etc.). The average employee will not be able to afford a dignified retirement at age 65.

The average college/university graduate enters the workforce with tens of thousands of dollars in student loan debt, and their starting salary is almost always below what they expected. Evidently, trying to achieve financial success using this approach is an uphill battle.

I wish that I had been taught a different approach to life from the public school system. Fortunately, I was wise enough to seek out a different approach on my own. The one I discovered belonged to the entrepreneurs of the world.

They approach the game of life in a completely different manner. They avoid the other approach at all costs, and are often ridiculed by the masses because of it. But when they succeed, they are the envy of those same people who once ridiculed them. Their approach is this:

– What kind of lifestyle do I want to be living in the future? (Vision)

– What kind of business will provide me that lifestyle? (Mission)

– What steps must I take to make it happen? (Goals)

VISION:

“The best way to predict the future is to create it.” – Peter Drucker

Your vision for your life must be holistic; it must include all the areas of your life – not just your business. How healthy will you be? How much time for family will you enjoy? Will you have an active social life? What kind of career/business will you be devoted to? What will your annual income be?

How often will you travel? Will you work on weekends? Will you work from home? What kind of car will you drive? In what city will you live? These are just some of the questions you should be asking yourself. Collectively, the answers to these questions will formulate the vision for your life.

MISSION:

“Don’t set business goals and then try to fit your life around those goals. Set lifestyle goals and create a business that supports that lifestyle.” – Unknown

Once you’ve identified a vision, the next step is to determine what approach has the highest probability of resulting in the materialization of that vision. While there are some exceptions, in most cases a job will prevent your life’s ultimate vision from materializing. But quitting your job just for the sake of quitting is not a good strategy either.

A good starting point is to identify several individuals who are living the lifestyle that you want, and then determine how they got there. Did they start a business? Did they invest in real estate? Did they publish a best-selling book? What did they do to get there, and could you do the same? Would you enjoy doing the same? If so, it is time to get started.

GOALS:

“Setting goals is the first step in turning the invisible into the visible.” – Tony Robbins

Once you’ve identified a vehicle that will enable you to materialize your vision, the next step is to break the process down into actionable steps (goals). Beginning with the end in mind, identify the process required to achieve that end.

Trace that process back to its first steps, and get started now. By taking consistent steps in the right direction, day after day, eventually your goals will be accomplished. The materialization of your life’s vision is your reward for accomplishing your goals.

Final thought:

It may be easy to visualize that perfect lifestyle that you want to enjoy in the future. What won’t be easy is making it happen. There will be obstacles, setbacks, disappointments and sacrifices along the way. Your persistence must be relentless, but your approach must be flexible.

Sometimes the strategy you start with will open the door to another strategy later on. Sometimes the strategy you start with won’t work at all, in which case you will be forced to find a new one. The point is, never compromise your vision. Change your mission and your goals if you have to, but never sacrifice your vision.

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Tyler Basu is the President of Chatting With Champions and the author of SELL ANYTHING: A System For Success In ANY Situation.

photo credit: Roger Smith via photopin cc

Entrepreneurs are very different people. They have something about their personality, work ethic, and charisma that just stands out.

Are you an entrepreneur or someone who is aspiring to be one? Most entrepreneurs share a lot of common traits. Here are 12 signs you’re an entrepreneur:

1. You Love Beating The Norm

Are you someone who hates doing what society expects of you? Entrepreneurs love breaking rules and doing things on their own terms.

The word is FREEDOM. Entrepreneurs love freedom in anything and everything they do. They defy odds, do what society least expects, and embrace originality.

2. Control-Freak

Okay maybe not a complete control-freak, but you love to be in control. Entrepreneurship gives you the ability to etch out your own future and destiny. You’re the owner of your future.

Entrepreneurs love control and being in the driver seat of everything they do. If you love being in control, you will probably make a great entrepreneur.

3. Hustlers Ambition

Instead of opening a lemonade stand when you were 8, did you supply all your friends with the lemonade? Entrepreneurs always have a little hustle in them from an early age.

When I was 9 years old, I wanted to create a website and make money from it. I made the website, but failed at making money. The point was, I still wanted to make money at that young age. Entrepreneurs always have a lot of ambition and hustle in them!

4. Nobody Wants To Hire You

I forgot the percentages, but there’s actually quite a few entrepreneurs that had to create their own company because NOBODY would hire them. Don’t worry, it’s great because 9 to 5 jobs suck anyway.

If nobody wants to hire you, they probably think your a handful to manage. Entrepreneurs are hard to manage because they are creative thinkers and want to be FREE.

5. People Think You’re Crazy

You share your big dreams, aspirations, and goals with others and they simply look at you like you are crazy. I have some huge goals for myself by the time I turn 25 and every time I tell people, they think I’m crazy!

Since I’m on this topic, I’ll share what my goals by the age of 25 are:

– I want to become a global brand

– Through my startups, I plan to impact millions

– I wish to attain at least $5 Million in wealth

– I want to be able to take one of my startups and turn it into a big business

– I want to give back to the world once I turn 25

And those are just a few of the goals I want to accomplish before I turn 25. Some of the most successful entrepreneurs were once told that they were absolutely crazy for what they were trying to do. Now that they have accomplished what they said they would, who’s the crazy one?

6. Satisfaction Rarely Exists

I’ve often talked about why the wealthiest people in the world are so wealthy. I attribute it to a constant hunger to attain more wealth. Satisfaction is a dangerous thing.

If you’re satisfied with success, what you earn, or where you’re at…….you will never grow from that point. Entrepreneurs are NEVER satisfied. Make a million dollars, ask yourself why it wasn’t 2 million dollars?

Growing up, my parents were proud of my accomplishments but they were never satisfied. They expected me to be better because they knew I was. I score the winning basket at my NJB game and they say “Good job, but why did you have 4 turnovers?” The hunger to always do better and achieve more lives within entrepreneurs.

7. Confidence Is A Stain They Can’t Wipe Off

Entrepreneurs aren’t cocky, they’re just confident. However you look at it, confident entrepreneurs have proven that they do it better.

Confidence is a great thing and if you have it, embrace it. It’s one of the key traits one must have to become a successful entrepreneur.

8. You’re Okay With Getting Paid Later

Entrepreneurs are willing to work for free. In order to have a better tomorrow, you must sacrifice today. Society has programmed us to always receive money for every period of time we work for.

However, entrepreneurs understand that you must work for free now in order to get paid in the future. They have no problem with it and they love it, because they know the returns will far-exceed any 9 to 5 job.

9. Sleep Is For The Broke

Once you’re grinding away on your business, sleep is really unnecessary. You only sleep when you really can’t stay awake longer.

Do you ever find yourself doing something and simple get immersed in it? Entrepreneurs are born and bred in that manner. They take rest only when they need it.

10. TGIM

Screw TGIF. It’s all about TGIM (thanks to Eric Thomas for creating this amazing day for entrepreneurs). Thank God It’s Monday!

Entrepreneurs are happy to see Monday’s hit. Businesses open and entrepreneurs can go back to making money, which is always a great thing. Love your mondays just as much as your Fridays!

11. Work Hard, Play Harder

Entrepreneurs go hard. I’ve been to all the conferences and events with entrepreneurs, I know what you guys do once you turn off the laptop. Hell, I’m an entrepreneur myself!

I know what it’s like. Entrepreneurs work hard, but they play harder. Entrepreneurs enjoy every minute of life (inside and outside of the workplace).

12. You’ve Been Taking Risks All Your Life

Entrepreneurship is a risk. Anyone who tells you otherwise is simply crazy. Risks aren’t a bad thing though.

I love risks. Without risks, there is no adrenaline rush and conquering obstacles just don’t feel the same! Entrepreneurs aren’t scared of taking risks, they love the challenge and do everything possible to make it happen.

Conclusion

Are you an entrepreneur already? Or are you trying to see if entrepreneurship is the right path for you? Nevertheless, these are some of the most common signs you’re an entrepreneur. Share what signs told you that entrepreneurship was the right path for you!

Overnight successes never really happen overnight. People all judge outcome, but never the process leading up to the success.

Over my few shorts years of being an entrepreneur, I’ve had the privilege of meeting a lot of other successful people. If you meet 5 millionaires for 5 minutes, you will automatically know the common traits they share.

Surprisingly enough, I’ve seen that these common traits are shared almost universally by most successful stories. Successful people do things that others aren’t often willing to do.

Here are 10 things successful people do that others don’t:

1. They Dream & They Do

Anyone can be a dreamer. It takes a special someone to be a dreamer and a doer. Successful people are always doers.

They dream great things, but they know it won’t happen unless they put it into action. Successful people always dream and plan hard before wasting little to no time to put their ideas into action.

2. They Grind

Successful people work hard, very hard. They’re willing to grind and put in long hours without any return.

Most people think they should be getting paid immediately after putting time into something. It’s not their fault, society has raised us this way with the ‘hourly wage’ system.

However, entrepreneurship isn’t an hourly wage type of job. It’s a long-term commitment. You work your ass off for free for the next 2 years on the hope that it will pay off 5 years later.

Successful people are willing to put in as much time and effort necessary to succeed. They work long nights, stay focused, and never give up.

3. No Excuses

Excuses don’t exist in the books of successful people. Great people don’t make excuses, they take accountability.

Successful people will always step up to the plate and take accountability in any situation (no matter how bad it may be). They are willing to take blame because they know they will bounce back.

4. Mindset

Successful people already knew they were going to be successful. They set goals and meet them.

Success is a mindset in many ways. If you want to be successful, you need to tell yourself that there is nothing in the world that will stop you from doing what you need to do.

5. They Take Risks

No risk, no reward. That’s a basic lesson of life. Successful people know they have to take risks and many of them have taken huge ones to get where they are today.

Whether it’s dropping out of school to pursue your dreams or quitting your 9 to 5 job, successful people take risks to make their dreams come true. When they take risks, the pressure elevates and successful people are clutch.

6. They Never Stop Learning

Once you receive your degree and graduate from high school or college, that is only the beginning of your education. In my opinion, school teaches you more how to learn rather than set you up with education that will last your whole life.

Education is something that never dies. Successful people know that and are always willing to improve their knowledge base.

7. They Sell

In order to make money, you must be selling something. Whether it’s a product, service, tool, feature, subscription, or yourself……you’re selling something.

All successful people have sold a fair-share of something to get where they are. You need to adopt the skills necessary to be a successful salesman in the world today. The more you sell, the more money you make.

8. They Do It For More Than The Money

Successful people have always told me, don’t do it only for the money. The money is nice because who wants to cry on the side of the street when they can do it in a Mercedes, but it’s not everything.

Your motivation needs to come from something deeper than your love of money. Find something you’re passionate about and a really good reason why you want to do it!

9. Strong Discipline

Successful people discipline themselves. They know in their heads that success won’t come easy. They whip themselves to make sure they’re doing what they need to be doing.

Should I spend a day hanging out with my friends or should I use that day to continue working on my venture? Successful people are able to fight off these thoughts and would use the day to work on their venture.

10. They’re Hungry

Many successful people will tell you that they were really passionate about changing their lives and becoming financially free. They may have literally been hungry or may have grown up in an environment where money was scarce.

Regardless of the reason, successful people are hungry. They’re never satisfied by the tastes of success and continue working hard until they reach the end of their goal. When you become satisfied, you never grow. Successful people are always hungry to achieve more!

Conclusion

As you can see from the article above, these are quite a few of the most common characteristics many successful people around the world share. Success comes to those who truly want it. Share some things you’ve noticed about successful people below.

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Starting a business nowadays is just the sexy thing to do. Entrepreneurs are in the spotlight and everyone wants to give it a go!
It’s a great thing and it’s one of the best times to be an entrepreneur. Unfortunately, it’s very tough to become a successful entrepreneur overnight. It takes more than a slick name and fitted suits to start a successful business.

While anyone can start their own business, it takes a lot of learning and wisdom to create a lasting one. Here are 5 things you should know before starting a business:

1. You’re Going To Work More Than You Have Ever Before

The biggest thing people never see is the time and effort entrepreneurs put behind their businesses. Everyone sees the result, but rarely ever the process behind the result.

Business owners put hours and hours of time and effort to make their venture successful. Often times, they go unpaid during this time. If you want to start a business, you should know that success isn’t easy and requires a lot of hard work.

You will need to be fully devoted and committed to your venture to be successful. Long hours, late nights, and more effort than reward are just a few things every business owner goes through at some point.

2. Good Luck On Your Billion Dollar Sell Out

I’m never one to set limits on anything I do, but I see too many business owners expecting ridiculous things. It’s great to think big, but you must have a plan behind it. I’ve heard way too many business owners expecting to sell their company for billions overnight.

While it’s a great goal to have, it needs to have a plan of action behind it. Think big, but plan bigger. Don’t expect to make a ton of money overnight like Instagram because it’s rare and requires a lot of hard work.

3. Don’t Be Afraid To Fail

1st time entrepreneurs cannot expect success instantly. If your successful on your first shot, that’s great but most of the time it doesn’t happen! 75% of startups fail within the first 6 months.

That’s just pure facts and facts cannot be disregarded. However, failure isn’t a bad thing. Failure is part of many business ventures and it is one of the best learning experiences possible.

Fail fast, fail hard, and learn from it! Many businesses have attributed their biggest success immediately after they saw their biggest failure. Successful entrepreneurs know how to embrace failure and bounce back!

4. Ideas Don’t Mean Shit

Take it from someone who has wasted thousands of dollars on patents, ideas do NOT mean shit. Stop worrying about someone stealing your idea and starting focusing on how you plan to execute it.

Bypassing patents isn’t a very difficult thing to do. Your idea really doesn’t mean anything (just ask any investor) until you’ve done something with it.

When Facebook had launched in 2004, a competitor “Friendster” already had 3 million users. Facebook executed better and became the biggest social network in history. Great execution and success will meet no matter what!

5. You Aren’t Going To Capture 15% Of Your Market Share

All entrepreneurs at some point do some math and come out with unbelievable projections. Don’t worry, it’s happened to all of us. As soon as you do that, erase every memory of that from your mind.

Customers are hard to get. Customers cost money. Customers are needy. When you put these 3 key elements together, you’ll understand that your projections aren’t close to what you’ll be profiting.

Before you start a business, have a plan to acquire customers and a plan to service them. Great businesses sell great products and deliver better customer service. Use that model to accelerate your business!

Conclusion

As you can see, starting a business isn’t a walk in the park. There are a lot of challenges that entrepreneurs face when trying to climb the ladder through the business world. These are just 5 things you should know before starting a business!

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Here’s an infographic on the mathematics of entrepreneurship. So many people are fixated on failure, but rarely ever wonder why startups are failing. This infographic goes in depth to show you why people fail and how many people really fail.

Failure is something that we should not shy away from, but rather embrace. Failure is an event, nothing else. Failure doesn’t define a person or business, it defines somethings that happened on a certain day at a certain time.

We all have bad days, failures just another bad day. You can wake up the next morning and bounce back or you can dwell on it. It’s the successful entrepreneur that wakes up and bounces back.

The successful entrepreneur also shares a variety of qualities, which are listed below:

Passion, Perseverance, Persistence

The 3 P’s. It is very difficult to be successful unless you strongly possess the 3 qualities listed above.

Dream Hard

It takes a special person to inspire others. You must step back, look at the big picture, and inspire others to believe in your vision. Be imaginative, creative, and think BIG.

Empathy

Great entrepreneurs build meaningful relationships where they feel and understand what customers and employees do.

Advice

Successful entrepreneurs know the value of advice. They aren’t afraid to ask for help when they needed and they’re more than happy to share their wisdom when they can.

Fair

Whether you’re dealing with customers, vendors, employees, or anyone else, entrepreneurs are always logical and fair.

Influence

Entrepreneurs never force their will on others. They have a sort of charisma that influences everyone around them.

Work Ethic

Every successful individual has put in tons of hours to get where they are today. People look at the event (the outcome), but rarely dive into the process.

Knowledge

You must continue learning and build your knowledge base every day. A degree is a good foundation, but it does not mean you can stop learning. Education never stops!

Flexible

Entrepreneurs never fixate on anything. They understand that to be successful, you must pivot and be flexible to try new things. They dwell on nothing, approach everything with an open mind!