We are currently living in a world where almost everyone knows about entrepreneurship and the idea of having your own private business became everyone’s dream. Being an entrepreneur is not as easy as it sounds; it requires a lot of planning, effort, thinking, and acceptance of any possibilities.
As an entrepreneur, you will face many difficulties when starting your own business and you have to accept the fact that you will face some failures in the journey of growth.
You’re not the only one who faced obstacles, many great entrepreneurs faced the same but came out of it stronger.
Here are some lessons from great entrepreneurs that you need to know before starting your business.
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1- A Lesson by Steve Jobs: Focus on the Positive and Take Calculated Risks
The famous entrepreneur Steve Jobs saw that focusing on the positive could lead you to success. Negativity will drain your energy and will stop you from enjoying your life. Entrepreneurs have to learn to utilize their positivity to push them towards working hard and achieve their goals.
Steve Jobs was known for a person who takes risks just like he did when he updated iPhone, which affected the iPod’s sales but made the iPhone top all smart-phones brands. Therefore, you can take a risk but it has to be calculated so you don’t end up ruining your business.
2- Learn from Your Mistakes and Never Waste Time – A Bill Gates Lesson
Bill Gates is one of the most important and popular entrepreneurs around the world and there are many lessons that entrepreneurs can learn from him. Bill Gates urges entrepreneurs to know the value of time and never waste it. He once said, “No matter how much money you have, you can’t buy more time.”
Entrepreneurs have to focus on their business so it can flourish and need to get rid of anything that can distract them or waste their time, because the wasted hours you spend today, you can’t get them back tomorrow.
Bill Gates also wants young entrepreneurs to accept failure and to learn from their mistakes. Failure is an opportunity to learn; it will make you go back to your plan to analyze it to figure out what went wrong so you can avoid it next time. He says, “It’s fine to celebrate success but it is more important to heed the lessons of failure.”
3- Hire the Best Employees and Focus on Your Product, Taught by Mark Zuckerberg
The Facebook Co-Founder Mark Zuckerberg believes that hiring the best people will help you do better and when it comes to hiring, he only hires people that he would also work for, He stated, “I would only hire someone to work for me if I would work for them.”
Zuckerberg also advises entrepreneurs to know their product as if they know themselves. Great product will give you great results; this is why Zuckerberg always works with his team to update Facebook. He asserts on always studying your product and to look for any mistakes or loopholes so you can fix them ASAP.
4- Long Term Thinking by Amazon Founder Jeff Bezos
The founder of Amazon depended on long term thinking when he started Amazon. Amazon Retail exists since 1994 when computers and the internet were way different than these days but his long term thinking made him believe that later on people would be purchasing off of them.
Long term thinking requires patience, effort, and a lot of planning but it pays off in the end, you don’t have to see the results right away because the final outcome will be better than what you expected.
“If we think long term, we can accomplish things that we couldn’t otherwise accomplish.”
If you’re about to start your own business, it is recommended to seek other entrepreneurs to learn from their experience.