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18 Entrepreneurs Share Their Top 20 Tips

 

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So much noise in the world. So much chatter.

Most of it sounds like the adults speaking on Charlie Brown: “mwa mwa-mwa mwa mwa”

But sometimes between all the mumbo-jumbo comes ear piercing wisdom. Yes — pure unfiltered advice in search of a landing pad in the brain of startup entrepreneurs.

The Five Hallmarks of Highly Respected AchieversDavid DiSalvoContributor

7 Traits of Incredibly Successful EntrepreneursEric T. WagnerContributor

Billionaires' Tips For New Grads: Advice From Jobs, Oprah, And MoreBrian SolomonForbes Staff

And so my question when having an audience of rock star entrepreneurs is always this:

“If I were a 20 year old just starting my first business; and you could give me only one piece of advice or wisdom; what would it be?”

Having landed smack dab in the middle of a ton of smart, well heeled entrepreneurs at a recent live event in Scottsdale, Arizona — I asked my question.

Low and behold, 18 entrepreneurs fired off 20 bits of wickedly good advice for all of us.

Let the wisdom begin…

1.) The Power of Connections

“Network! Make connections and keep a record on each person you meet. Ask for their advice and help. Keep in touch with them along the way and build your network before you need it! Quality relationships are the keys to the kingdom.” – Clare Dreyer

2.) Focus, Focus and Focus

“Focus on ONE NICHE! And become the expert guru in that niche with your brand. Don’t get greedy! It’s the reason most quit by spreading themselves too thin.” – George Shepherd

3.) You Will Fail at Times

“Look forward to failure. This is how you learn to succeed. There is plenty of time to get it right —  so go ahead and just do it — and get it wrong.” –Graham Phoenix

4.) Let Your Passion Drive You

“Find what you’re truly passionate about and go for it head on.  Your passion driving you on your entrepreneurial journey. And understand there is NO Such THING AS BALANCE when you’re building your empire. There are things entrepreneurs do that others will not.” – Katerina Gasset

5.) Stop Thinking of Your Own Wallet

“Be of service; give value. Rather than thinking “how can I make a living and make money”; think  ”how can I serve and truly add value to people’s lives? How can I make a difference?” This is what Oprah and Deepak Chopra say is their driving mission.” – Rena Hedeman

6.) Successful Entrepreneurs Have Mentors, Coaches or Masterminds

“Surround yourself with great mentors. They help when you reach a plateau in your business cycle and can shave years off your business development and growth through advising from their mistakes and successes.” – Thalej Vasishta

7.) Stop Thinking of Your Own Wallet Part II

“Approach your business from a place of service; how can I help my audience be more successful at what they’re doing. Before you write a blog, write a newsletter, shoot a video, present a proposal be still for a moment and ask for the knowledge of what your audience needs from you right now rather than to look for a way to “win someone over.” Come from a place of how to fill someone else’s cup rather than your own. Oh yeah and build a freaking list!” – Susan Garrett 

8.) Leaders Lead Through Service to Others

“Don’t be afraid to get your hands dirty and never ignore the reality of your situation. Always be honest with yourself before you criticize others. If you can’t truthfully manage yourself — you don’t have a chance of effectively managing others.” – Jason M. Aubrey

9.) Finished Beats Perfect

“Don’t wait for everything to be perfect before you make your first step. Dive in and learn as you go!” – Chris Beatty

10.) Bend to the Market

“Learn to pivot. Resist falling in love with your initial idea so you can discover what the market actually wants and is willing to pay for – and then give it to them!” – Cherylanne Skolnicki

11.) Core Values Last — Quick Buck Artists Don’t

“Remain authentic to yourself and your values as you build your business. Stand for something — never sell out for a quick buck.” – Cherylanne Skolnicki

12.) Stop Thinking of Your Own Wallet Part III

“Help people. Help when you’re happy. Help when you’re tired, and even help without attachment to getting anything in return. Keep on helping people towards a better life, straight through to your marketing. If you do this, you’ll create a marketing approach that’s based on “help marketing,” and you’ll have a business that’s never short on customers.” – Forest Linden

13.) Today is Your Day

“I love this from Og Mandino and wish I had learned this at age 20: “I will act now. I will act now. I will act now. This is the time. This is the place. I am the person.” – Julie Samford

14.) Being an Entrepreneur is a Journey — Not a Destination

The Five Hallmarks of Highly Respected AchieversDavid DiSalvoContributor

7 Traits of Incredibly Successful EntrepreneursEric T. WagnerContributor

Billionaires' Tips For New Grads: Advice From Jobs, Oprah, And MoreBrian SolomonForbes Staff

“Learn to love the journey. Enjoy the slow steady movements toward what you dream of. And take refuge in the simple comforts of loving relationships, dear friends and your creative vision. Remember to smell the flowers often, listen to the birds, befriend fear. I’ll say that one again, befriend fear because it will likely be a constant companion. Nothing wrong with that, as a teacher told me, fear means: Prepare to Grow!” – Ahava Shira

15.) Unique Positioning is Everything

“Sell what people are already buying – in your own voice.” – Barry Friedman

16.) Negative People Can Bring You Down

“Do not let the naysayers and dream stealers turn your dream into a nightmare. There are so many people that will tell you no — you can’t do this. If you are surrounded by those who do, then it is time to make new friends.” – Katerina Gasset

17.) Okay — You Can Think About Your Own Wallet Now

“Stop doing anything else until you can say you’ve mastered the ability to sell what you offer. Everything is easier when you develop the ability to find a need; fill it and then be paid well to do so.” –Ken Foody

18.) Test + Action = Success

“Take small and medium size risks consistently.  Test your results and focus on what works. Taking action will make you feel alive. It’s where you personally grow.” – Justin Krane

19.) Live By: “Just Watch Me”

“Ignore everyone who says you’re crazy and it will never work. Adopt the stance, “oh yeah, just watch me.” – Debra Gould

20.) Expand Your Mind: Forever

“One thing? Never stop learning!” – James L. Pearson

Have something to add? I dare say you should add your wisdom below. Remember — huge advocate of sharing the love…

NOTE: If you don’t know me, I’m Eric. Husband, father & life-long entrepreneur…

If you’re an entrepreneur, let’s you and I connect right here.

Seriously. Here’s a killer formula:

Your Wisdom + My Wisdom = More Success

My email is: eric at mightywisemedia dot com.

(You can also find me hanging out at Mighty Wise Media; on Google+,Facebook or Twitter @MightyWiseMedia.)

You need read and understand these 5 reasons people fail

5 Reasons People Fail (& What to Do Instead)

These barriers to success are easy to overcome, but only when you know they're there.

Why do some people achieve their goals while others fail? I believe it's because successful people manage to overcome five barriers that, in many cases, guarantee failure. Here are those barriers and how to overcome them:

1. Uninspiring Goals

When most people set goals, they envision a "thing," such as a particular amount of money, an object (like a new car), or a specific achievement (like writing a book). Unfortunately, these "things I'm gonna get or do" goals don't appeal to the core of what motivates you, because they miss the point that what you're actually seeking in life and work is the POSITIVE EMOTIONS that you believe those things will produce.

Fix: Rather than envisioning a "thing" as your goal, envision--with all the strength in your imagination--how you will feel when you achieve the goal. That way, you'll be inspired to do whatever it takes (within legal and ethical bounds) to achieve that goal.

2. Fear of Failure

If you're afraid of failing, you won't take the necessary risks required to achieve your goal. For example, you won't make that important phone call, because you're afraid that you'll be rebuffed. Or you won't quit your dead-end job and start your own business because you're afraid that you might end up without any money.

Fix: Decide--right now!--that failure, for you, is a strictly temporary condition. If things don't go the way you'd like, it's only a setback that, at most, delays your eventual success. In other words, accept the fact that you'll sometimes fail, but treat that failure as an unavoidable (yet vital) component in your quest.

3. Fear of Success

In many ways, this fear is even more debilitating than the fear of failure. Suppose you achieved something spectacular, like enormous wealth. What if it didn't make you happy? What then? What if you ended up losing all of it? What then? Would your friends start acting weird? Would your family be envious? Such thoughts (and they're common) can cause even a highly motivated person to self-sabotage.

Fix: Decide that you're going to be happy and grateful today and happy and grateful in the future, no matter what happens. Rather than focus on possible problems, envision how wonderful it would be to be able to help your friends and family achieve THEIR goals. (Hint: Watch the last season of the TV series Entourage!)

4. An Unrealistic Timetable

Most people vastly overestimate what they can do in a week and vastly underestimate what they can do in a year. Because of this, most people try to cram too many action items into the short term rather than spacing out activities over the long term. The inability to get all the short-term steps accomplished creates discouragement and the impression that the final goal is slipping away.

Fix: As you list the activities and steps required to achieve a goal, schedule only the 20% of the activities that will produce 80% of your results. (I explain more about this in the post The Secret of Time Management.) Beyond that, set ambitious long-term timetables, but always leave some "wiggle room" when you plan short term.

5. Worrying About "Dry Spots"

It's easy to get discouraged when you reach a point at which nothing you do seems to advance you toward your goal. For example, suppose you're trying to master a certain skill. You make swift progress at first but then, after a while, it seems as if you're not doing any better, or maybe a little worse. Some people use these "plateaus" or "dry spots" as an excuse to give up and therefore fail.

Fix: Whenever you reach a plateau or dry spot, it's time to celebrate rather than give up. A plateau is almost always a sign that you're on the brink of a major breakthrough, if you just have the patience to stick with it and trust that you'll eventually achieve your goal.

Read These 10 Things You Must Stop Doing Now To Be Happy

Be Happier: 10 Things to Stop Doing Right Now

Sometimes the route to happiness depends more on what you don't do.

Happiness--in your business life and your personal life--is often a matter of subtraction, not addition.

Consider, for example, what happens when you stop doing the following 10 things:

1. Blaming.

People make mistakes. Employees don't meet your expectations. Vendors don't deliver on time.

So you blame them for your problems.

But you're also to blame. Maybe you didn't provide enough training. Maybe you didn't build in enough of a buffer. Maybe you asked too much, too soon.

Taking responsibility when things go wrong instead of blaming others isn't masochistic, it's empowering--because then you focus on doing things better or smarter next time.

And when you get better or smarter, you also get happier.

2. Impressing.

No one likes you for your clothes, your car, your possessions, your title, or your accomplishments. Those are all "things." People may like your things--but that doesn't mean they like you.

Sure, superficially they might seem to, but superficial is also insubstantial, and a relationship that is not based on substance is not a real relationship.

Genuine relationships make you happier, and you'll only form genuine relationships when you stop trying to impress and start trying to just be yourself.

3. Clinging.

When you're afraid or insecure, you hold on tightly to what you know, even if what you know isn't particularly good for you.

An absence of fear or insecurity isn't happiness: It's just an absence of fear or insecurity.

Holding on to what you think you need won't make you happier; letting go so you can reach for and try to earn what you want will.

Even if you don't succeed in earning what you want, the act of trying alone will make you feel better about yourself.

4. Interrupting.

Interrupting isn't just rude. When you interrupt someone, what you're really saying is, "I'm not listening to you so I can understand what you're saying; I'm listening to you so I can decide what I want to say."

Want people to like you? Listen to what they say. Focus on what they say. Ask questions to make sure you understand what they say.

They'll love you for it--and you'll love how that makes you feel.

5. Whining.

Your words have power, especially over you. Whining about your problems makes you feel worse, not better.

If something is wrong, don't waste time complaining. Put that effort into making the situation better. Unless you want to whine about it forever, eventually you'll have to do that. So why waste time? Fix it now.

Don't talk about what's wrong. Talk about how you'll make things better, even if that conversation is only with yourself.

And do the same with your friends or colleagues. Don't just be the shoulder they cry on.

Friends don't let friends whine--friends help friends make their lives better.

6. Controlling.

Yeah, you're the boss. Yeah, you're the titan of industry. Yeah, you're the small tail that wags a huge dog.

Still, the only thing you really control is you. If you find yourself trying hard to control other people, you've decided that you, your goals, your dreams, or even just your opinions are more important than theirs.

Plus, control is short term at best, because it often requires force, or fear, or authority, or some form of pressure--none of those let you feel good about yourself.

Find people who want to go where you're going. They'll work harder, have more fun, and create better business and personal relationships.

And all of you will be happier.

7. Criticizing.

Yeah, you're more educated. Yeah, you're more experienced. Yeah, you've been around more blocks and climbed more mountains and slayed more dragons.

That doesn't make you smarter, or better, or more insightful.

That just makes you you: unique, matchless, one of a kind, but in the end, just you.

Just like everyone else--including your employees.

Everyone is different: not better, not worse, just different. Appreciate the differences instead of the shortcomings and you'll see people--and yourself--in a better light.

8. Preaching.

Criticizing has a brother. His name is Preaching. They share the same father: Judging.

The higher you rise and the more you accomplish, the more likely you are to think you know everything--and to tell people everything you think you know.

When you speak with more finality than foundation, people may hear you but they don't listen. Few things are sadder and leave you feeling less happy.

9. Dwelling.

The past is valuable. Learn from your mistakes. Learn from the mistakes of others.

Then let it go.

Easier said than done? It depends on your focus. When something bad happens to you, see that as a chance to learn something you didn't know. When another person makes a mistake, see that as an opportunity to be kind, forgiving, and understanding.

The past is just training; it doesn't define you. Think about what went wrong, but only in terms of how you will make sure that, next time, you and the people around you will know how to make sure it goes right.

10. Fearing.

We're all afraid: of what might or might not happen, of what we can't change, or what we won't be able to do, or how other people might perceive us.

So it's easier to hesitate, to wait for the right moment, to decide we need to think a little longer or do some more research or explore a few more alternatives.

Meanwhile days, weeks, months, and even years pass us by.

And so do our dreams.

Don't let your fears hold you back. Whatever you've been planning, whatever you've imagined, whatever you've dreamed of, get started on it today.

If you want to start a business, take the first step. If you want to change careers, take the first step. If you want to expand or enter a new market or offer new products or services, take the first step.

Put your fears aside and get started. Do something. Do anything.

Otherwise, today is gone. Once tomorrow comes, today is lost forever.

Today is the most precious asset you own--and is the one thing you should truly fear wasting.

Must Know: Emerging Markets in 2013

The Emerging Market You're Probably Ignoring

Here's what you don't know about this market: More than half the population is under 25 years old--and that's a big business opportunity.

Looking for an emerging market? Looking for a youthful market? Try the Arab world: More than half its population is under 25 years old.

Compare that to the U.S., where only 34% is less than 25.

Here's another in my series in which I pick a topic and connect with someone a lot smarter than me. (There's a list of previous installments at the end of the article.)

This time I talked to Vijay Mahajan, a business professor at the University of Texas and the author of The Arab World Unbound (as well as the 86% Solution, named the 2007 book of the year by the American Marketing Association).

The demographic data--and the opportunity it creates--is really surprising, at least to me.The Indian market comes close, at 48%. But compared to India, the Arab world has a higher percentage of its current population under 25 and a higher fertility rate to regenerate its youth.

And the Arab youth like global brands. Surveys show brands like Nokia, Toyota, Sony, Pepsi, Head & Shoulders, Rolex, Nike, Dove... all have brand favorability scores over 60%. Arab youth crave the best brands, wherever they come from.

It shows my ignorance of the region and its people--embarrassingly so--but I was also surprised by your data and insights into Arab women.In general Arab women are sophisticated, highly educated, and at the same time very family-oriented. While I'm exaggerating slightly, think of the mother's position in the family as just next to divine. Men won't do anything without consulting their mothers and grandmothers.

So product marketing has to start with the notion that it must appeal to women, because women are key decision-makers within the family.

Sounds no different than what happens in my house.Also keep in mind it is very important for women to show that they take care of their families... and by extension, they take care of themselves. Fashion is a very big thing, not only the clothes women wear inside but also the clothes they wear in public. While Arab women tend to be modest, their clothes are still a symbol of who they are as individuals.

Children are obviously very important as well. Mothers want to do a good job raising their children, providing for them, educating and enriching their lives.

Arab mothers are like mothers everywhere. They want the best for themselves and their families and they buy things just like mothers all around the world.

And they're very, very smart.

So where are the opportunities?Everywhere.

Take hospitality: Approximately 70 million people travel to Arab countries every year. Because of the nature of the region there are three types of tourists: business, pleasure, and visitors to holy places. More than 60% of the world is religiously connected to the region.

Christians go to the West Bank, Muslims to holy places in Saudi Arabia, others go to the Dead Sea or Mount Horeb, the "Moses Mountain." When 60% of the world is connected, there's naturally a huge market: travel, hospitality, food, services, etc.

I have to admit the idea of taking advantage of those opportunities sounds daunting, though.First keep in mind there are huge ex-pat populations in most countries. And some Silicon Valley entrepreneurs have started incubators and business plan competitions.

But you won't find opportunities by being safe. You'll need to go, explore, and get a feel.

Also keep in mind an excellent business infrastructure is already place. Broadband penetration is higher than in India or China. And almost 10% of North Africans live in Europe and transfer money back home.

The Arab world has a globally connected population, an incredibly vibrant business community, and millions of young people eager to start businesses and raise families and join the global marketplace--and consume products from all over the world.

The opportunity is there--as long as you're willing to understand and embrace cultural differences so you can truly be a part of an emerging market.

Quick note: I'm American and I see through American eyes. That means I hold a number of false assumptions and I miss a lot of stuff. Even if you don't plan to expand overseas, read a book like The Arab World Unbound.

If you're like me, it's a great way to start understanding just how much you don'tknow.

Read The World's Simplest Management Secret

World's Simplest Management Secret

Forget what you learned in those management books. There's really only one way to ensure that everyone on your team excels.

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Management books have it all wrong. They all try to tell you how to manage "people."

It's impossible to manage "people"; it's only possible to manage individuals. And because individuals differ from one another, what works with one individual may not work with somebody else.

Some individuals thrive on public praise; others feel uncomfortable when singled out.

Some individuals are all about the money; others thrive on challenging assignments.

Some individuals need mentoring; others find advice to be grating.

The trick is to manage individuals the way that THEY want to be managed, rather than the way that YOU'd prefer to be managed.

The only way to do this is to ASK.

In your first (or next) meeting with each direct report ask:

• How do you prefer to be managed?
• What can I do to help you excel?
• What types of management annoy you?

Listen (really listen) to the response and then, as far as you are able, adapt your coaching, motivation, compensation, and so forth to match that individual's needs.

BTW, a savvy employee won't wait for you to ask; he or she will tell you outright what works. When this happens, you're crazy not to take that employee's advice!

Unfortunately, most individuals aren't that bold, which is why it's up to you to find out how to get the best out of them.

And you'll never get that out of a management book.

There is no one-size-fits-all in a world where everyone is unique.

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