21 Success Tips for Young and Aspiring Entrepreneurs

Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to an entrepreneur, but not everyone can find one in person.

If you haven’t yet found your personal business guru, here are 21 tips for young or aspiring entrepreneur to help get you started.

1. Challenge yourself. 

Richard Branson says his biggest motivation is to keep challenging himself. He treats life like one long university education, where he can learn more every day. You can too!

2. Do work you care about. 

There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.

3. Take the risk. 

We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.

4. Believe in yourself.

As Henry Ford famously said, “Whether you think you can, or think you can’t, you’re right.” Believe that you can succeed, and you’ll find ways through different obstacles. If you don’t, you’ll just find excuses.

5. Have a vision. 

The founder and CEO of Tumblr, David Karp, notes that an entrepreneur is someone who has a vision for something and a desire to create it. Keep your vision clear at all times.

6. Find good people. 

Who you’re with is who you become. Reid Hoffman, co-founder of LinkedIn, noted that the fastest way to change yourself is to hang out with people who are already the way you want to be.

7. Face your fears. 

Overcoming fear isn’t easy, but it must be done. Arianna Huffington once said that she found fearlessness was like a muscle -- the more she exercised it, the stronger it became.

8. Take action. 

The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

9. Do the time. 

No one succeeds immediately, and everyone was once a beginner. As Steve Jobs wisely noted, “if you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in your company.

10. Manage energy, not time.

Your energy limits what you can do with your time, so manage it wisely.

11. Build a great team. 

No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.

12. Hire character. 

As you build your team, hire for character and values. You can always train someone on skills, but you can’t make someone’s values fit your company after the fact.

13. Plan for raising capital.

Richard Harroch, a venture capitalist, has this advice for upcoming entrepreneurs: “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

14. Know your goals. 

Ryan Allis, co-founder of iContact, pointed out that having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.

15. Learn from mistakes. 

Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success -- even though you initially failed.

16. Know your customer. 

Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.

17. Learn from complaints. 

Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.

18. Ask for customers’ input. 

Assuming what customers want or need will never lead to success. You must ask them directly, and then carefully listen to what they say.

19. Spend wisely. 

When you spend money on your business, be careful to spend it wisely. It’s easy to spend too much on foolish things and run out of capital too soon.

20. Understand your industry. 

Tony Hsieh, the founder of Zappos, once said, “Don’t play games you don’t understand, even if you see lots of other people making money from them.” Truly understanding your industry is key to having success.

21. Deliver more than expected.

Google's Larry Page encourages entrepreneurs to deliver more than customers expect. It’s a great way to get noticed in your industry and build a loyal following of advocates.

Being a successful entrepreneur takes a lot of work, a lot of vision and a lot of perseverance. These 21 tips, from entrepreneurs who have already found success, will help you navigate the path much more easily.

Sujan Patel

Shocker! Entrepreneurs Often Are Not CEO Material.

Though just 24 years old, Nadav Shoval has already launched five business ventures, including Spot.IM, , where he serves as CEO. Many of us assume an entrepreneur who has successfully launched a startup will thrive as a CEO but Nadav has learned the two roles require vastly different, and often incompatible, skill sets. He shared his insights on the different responsibilities and challenges each role presents.

What do you believe is the biggest misconception about the entrepreneur turned CEO?

It may sound provocative to say this, but entrepreneurs are not CEOs-in-waiting. We need to stop thinking of them that way if we want to build truly successful and, above all, sustainable companies. We like to think of the great product developer or disruptive innovator as just the precursor to being the head of a hugely successful company. But the truth of the matter is, there are marked and critical differences between being a successful entrepreneur and a successful CEO. Sometimes, they even require quite opposite or contrasting skill sets.

What are the main responsibilities of being an entrepreneur? What about  a CEO?

An entrepreneur acts as a hugely powerful engine for disruption and change. That’s incredibly valuable, especially at the start of a project. At this point, success is based on identifying a problem to solve, quickly creating a solution to fill that need and then convincing potential investors, partners, employees and users/customers that the solution will work.

But a CEO has to be a vehicle for sustainable success. If you’re leading a company it’s simply not enough to just be the engine. That might get the journey started but provides no guarantees of getting to your destination in one piece, if at all. What’s key to a CEO’s success, and what can actually be inimical to an entrepreneur’s creativity, is structure. A CEO has to provide the working infrastructure around different hubs or engines of creativity, if they want to do their job well. It’s less about providing the power, and more about harnessing it for a larger purpose or goal.

For a CEO, milk matters, whereas for an entrepreneur, it doesn’t have to. What I mean by that is that a CEO has to worry about small, seemingly minor matters that an entrepreneur has the luxury to ignore. A CEO has to worry that their company has a health insurance and pension system in place, that there is a clear policy on sick days, vacation, and bonuses and perhaps most significantly, that there is milk in the fridge for everyone’s morning coffee. There are dozens of unexciting logistical and administrative issues that come under a CEOs purview (even if someone else is doing the actual work). That might frustrate an entrepreneur who wants to be free to focus on the product.

Can an entrepreneur also succeed at being a CEO?

When we think of archetypal entrepreneur-CEOs, we think immediately of their brilliance and talent for design and innovation, and despite what I’ve said above, there are of course some entrepreneurs who also make for great CEOs. But for many of us, brilliance or genius can sometimes conflict with being the person every employee in a company can trust to lead them.

If an entrepreneur needs enough genius to see something no one else can, the role of the CEO is actually not necessarily to be the smartest person in the room. The key to being an effective CEO is identifying and channeling the genius of others and understanding how to apply it with the wider interests of the company in mind.

How else do entrepreneurs and CEOs differ?

In the same vein, another key difference between an entrepreneur and CEO lies in their primary function. An entrepreneur needs to create a product or service. The onus is on them to create the "something from nothing" / ex nihilo idea that gets the process started.

But a CEO can’t focus solely on getting things started because, as I said above, they need to provide the infrastructure for longer term success. In that sense, a CEO has to be more of an editor than a creator. His job is knowing when and what to cut away from new ideas to shape them (and the company) into the form that will ensure the highest chances for success.

How do entrepreneurs and CEOs fit into the overall business structure?

If an entrepreneur needs to insist on doing things his way, (which may often, to be fair, be the most effective way to do something), a CEO has to accept his way may not always be the right way.

Within the framework of a larger company, any given situation will require different standards and ways of doing things. One project may require efficiency to drive the pace, while another perfection, and success lies in knowing the difference and being flexible enough to adapt. Even more, it means recognizing that different colleagues are going to bring different perspectives and approaches. Learning to trust their expertise and decision-making, even when you might do things differently, can be critical.

An entrepreneur can afford to have tunnel vision. Focusing all of their attention on the opportunity they see in front of them is critical for their success. But, to continue the metaphor, a CEO needs to have double vision. They need to be able to see both the opportunities for growth and the obstacles that lie in the way of that growth. If they can’t employ this kind of preemptive problem solving, they will inevitably fall into every pitfall that crosses their path, and while that may work for a time for an entrepreneur, for a CEO responsible for a whole company, those are setbacks you can ill-afford.

Murray Newlands

7 Ways to Get People to Believe, Like and Respect You

There are some simple, yet often forgotten, business principles that can build a positive professional reputation and keep credibility intact -- for you and your business. Here are seven ways to convey that you are poised, polished and ready to conduct business with the highest standards of professionalism.

1. Be honest.

Unfortunately, fraud and scandals are too common in modern business. Your credibility is rooted in your ability to be honest, no matter the situation. Although you might be tempted to intentionally lie, misstate or misrepresent yourself or an aspect of your business, the long-term cost severely outweighs any short-term benefit. Even small fibs can damage or ruin your reputation.

2. Keep your word.

Your professional reputation is damaged when you don’t deliver on a promise. Every time you make a commitment, you have the opportunity to raise or lower your credibility quotient. Your word is all you’ve got. It’s important to be straightforward and upfront, letting everyone involved know what to expect before you start a new project. No one likes surprises. If you can’t complete a task before the deadline or stay within the budget, let clients know immediately. People tend to be much more understanding and forgiving if they’ve had advance warning.

3. Admit your mistakes.

Failure is an inevitable aspect of business. Though mistakes happen, successful managers and entrepreneurs understand how important it is to focus on solutions rather than obsess over problems.

To maintain a professional reputation as someone who is reliable and trustworthy, own up to mistakes as soon as they occur. Don’t attempt to cover up, ignore or minimize your errors or those of your business. Instead, take responsibility and find a solution. Always learn from your mistakes and then move on.

4. Be punctual.

Clients will evaluate you in part on your dependability. Most people will choose to work with someone who consistently delivers projects on time and on budget over someone who is talented but unreliable. Manage your time carefully to ensure that you never miss a meeting, deadline or commitment.

When meeting with clients or associates, arrive a few minutes early. Give yourself a buffer for travel to account for any traffic delays, inclement weather or difficulty with parking. If you arrive with plenty of time to spare, take a few moments to go to the restroom and gain your composure. Take advantage of your punctuality and build rapport with others who have arrived early. If something unavoidable happens to delay you, don’t make up an excuse. Instead, simply apologize. 

5. Don’t use foul language.

Choose your words carefully. What you say and how you say it can deeply impact how others perceive you. Using profanity and foul language in public can send the message that you are immature, impatient and lack self-control. Swearing in a professional setting will never command the respect of those around you. Instead, a foul mouth will isolate and alienate you from others. Don’t give clients, co-workers and customers an excuse to not work with you. If you find yourself so angry or upset that you start to lose your temper, walk away. It’s much better to excuse yourself to another room than direct your anger at someone else.

6. Handle conflict gracefully.

There will be times when you don’t agree with your clients, colleagues or partners. The potential for arguments and disagreements will always be a part of doing business. But how you handle difficult situations will reveal your character. If a client tests your patience or questions your authority, don’t allow the situation to ruffle your feathers. Try not to react with anger or take frustrations out on someone else. Instead, work with the client to find a compromise. When you’re wrong, yield with grace.

7. Don’t burn bridges.

The business world is tumultuous. Never speak negatively of a past client or business relationship. Your adversary today could be your ally tomorrow. In 1992, I lost my job to a department-wide layoff. Though it would have been easy to lose touch, I kept in contact with my former director. Two years later, when I was interviewing for a public relations position at the Breakers Hotel in Palm Beach, Fla., she was happy to give me a good reference. Her recommendation helped me get the job.

Relationships change and people may surprise you with a change in position or stature. The person you once took for granted may eventually turn out to be a powerful acquaintance. 

 Jacqueline Whitmore

Dream It, Do It: 7 Ways You Can Think Yourself Into Success

Have you ever thought you can’t be successful because you don’t have enough money, don’t live in the right city, don’t have the right connections or don’t know anyone willing to help you? I have many times, and I’m here to tell you, you need to relax.

Does anxiety ever bring about anything productive?

No, but this behavior is normal. We all struggle for ways to cope with worry because humans are programmed to rely on fear to help ease rejection. Often we don’t try hard enough to achieve our goals because our mind is trying to protect us from failing.

So, what’s the good news, you ask? The secret is that the outside world has nothing to do with making your dreams come true: Success is a decision.

You must consciously pay attention to your thoughts and realize that negativity is preventing you from flourishing. You are the only one who decides your fate; we are masters of our own universe.

Here are some of the best ways to turn your dreams into a reality:

Practice gratitude, right now.

I really can’t stress enough what this simple technique has brought to my life. I think every woman at some point thinks she is not good enough, and there’s always someone smarter, prettier, more successful and more desirable.

The only relief I have ever found for this concern is being thankful. We always think about what we don’t have, and we constantly compare ourselves to others.

Take the chance to stop for one moment and realize what you do have. You probably have much more than most people. How can you use those resources to get what you really want from life? Think about it.

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Write down what you want and be specific.

Figure out what you really want before trying to make it happen. Just thinking you want to be rich, famous, live in a big city or have the perfect relationship doesn’t cut it.

You must come up with a plan and find something specific that excites you. If it’s a tall, handsome man with blue eyes, so be it. Once you write it down, it’s on its way to becoming real.

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Trust your gut.

If you have to think twice about what you’re writing down, don’t write it. Don’t force yourself to do something just because other people tell you to do it; this exercise is about you. Everyone is unique and has different passions in life, so trust that all is possible.

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Believe that your goals will come true.

It doesn’t matter if you live in a small town in the Midwest, or in the African wilderness; the universe has a way of bringing things to you that it believes you really want.

I grew up on St. Maarten, a small island in the Caribbean, but I always believed I would be writing and selling books in New York City.

When I was 12 years old, I used to practice my signature for people. Suddenly, as if no time had passed at all, I found myself in NYC working in fashion. Even though I still hung onto my dream of being a published author, I thought maybe I had gotten my dreams wrong.

Still, I went with the flow, trusting that the universe knew what I wanted, and this year I published my first novel. So, read what you write down; read it every day until you believe it.

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Pay attention to coincidence or déjà vu.

Coincidences are not always just random events; they are hints that help turn your dreams into your reality. You must consciously recognize them and pay attention to the signs. How do they fit into your plan for success?

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Forgive yourself for your mistakes and live in the present moment.

We all make mistakes, but they are in the past now. You can’t change your blunders, but you can learn from them. Everyone regrets things they have done; the trick is to live in the present moment and pay attention to what’s happening right now.

Don’t miss those little coincidences because you’re stuck on feeling guilty about something you can’t change. Move forward with your dreams.

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Be patient, enjoy the journey and lose the emotions.

Enjoy the good and the bad. Once you recognize that you’re always learning, you’re able to step back and analyze your experiences. One of my favorite quotes is, “This too shall pass.” This saying applies to all things, not only the bad.

When you realize that the good times will come and go as well, you stop having the highs and lows that really play with your emotions and make you lose sight of what’s really important.

 NICOLA MAR