Any entrepreneur worth their salt has dreamed of becoming a public figure. Even considering they are slow to the stage, the majority of entrepreneurs do not wish to toil behindRead More
The post 7 Essential Steps to Becoming A Public Figure appeared first on The Entrepreneurs Library.
]]>Any entrepreneur worth their salt has dreamed of becoming a public figure. Even considering they are slow to the stage, the majority of entrepreneurs do not wish to toil behind the curtains forever. Since the turn of the century, we have been graced with the presence of a variety of entrepreneurs and visionaries that have been able to deliver lasting changes in a wide range of different fields.
From the many well-known authors we have had on The Entrepreneurs Library, I have come to learn that any entrepreneur who is thinking about becoming a public figure will excel quickly by learning from other leaders that have found tremendous amounts of success. Here’s a closer look at the essential steps that many leaders today when they first started becoming a public figure.
Andrew Carnegie is one of the first entrepreneurs that we are taught about. He was not born with a silver spoon in his mouth and grew up in a lower class household. His poverty stricken family left his native Scotland to come to America and raise their quality of life. Carnegie used his impoverished childhood as motivation.
Once Carnegie became wealthy, he was not content to sit on top of his stack of money. He reached out to those who were less fortunate, donating tens of thousands of dollars to fund hospitals and libraries. He was also one of the first entrepreneurs who wrote a book about his success, imparting his secrets to others who were in the same position he used to be in.
Unless you have been living under a rock for the past 20 years, you have heard the name Oprah Winfrey. Oprah is a testament to what you can achieve if you have the willingness to overcome the bad things that have happened in your past and continue to work towards your goals.
Oprah has become an influential public figure because of her eloquence and her ability to speak passionately about the experiences that shaped her. Because of this, people do not see her as a billionaire who is above them, she is seen as a peer, which makes more people want to purchase her products.
No matter who you are or where you are from, you have heard of Steve Jobs. While Jobs may be a polarizing person to many, there is no question that he is an influential public figure. Even in death, his quotes and philosophies are still discussed. The main lesson to be learned from Jobs is to always be yourself.
Jobs has been criticized for his sometimes abrasive approach, but he was able to command respect and become an important public figure because of his honesty and unwavering commitment to his own personal principles.
The Social Network was more than just a movie about the creation of Facebook, it also displayed Mark Zuckerberg‘s best and worst tendencies. While some entrepreneurs would be reticent to allow themselves to be portrayed in an unfavorable light, Zuckerberg gave Hollywood the permission to tell his story, warts and all.
Every entrepreneur is not going to receive the opportunity to tell their story on the big screen. By telling your whole story, you allow your audience to relate to you on a whole new level. It has the effect of humanizing you and showing people that you are far from invincible.
The Huffington Post has become one of the Internet’s most trafficked websites, making a star out of the site’s creator, Ariana Huffington, in the process. Because she provides an important publication service and educates her readers about current business, political and entertainment issues, Ariana Huffington has developed a much higher profile in recent years.
When an entrepreneur provides people with more than a simple product or service, it increases their appetite for knowledge about the person, which eases their transition into a public figure. She has gone from unheralded blogger to the pages of Time magazine, without having to pander to the lowest common denominator.
Martha Stewart is a name known throughout the world and even a prison stint could not deter her businesses. She has been able to endure as a public figure because she has successfully diversified her portfolio. While some may know Stewart from her television persona, others may know her because they purchase her linens or her magazines. Martha even makes appearances on shows like The Apprentice and Comedy Central’s Justin Bieber roast.
Martha’s media presence is varied, which gives her the unique ability to speak to a plethora of different audiences and ensures that her shelf life as a public figure is not artificially shortened. Some entrepreneurs are content to live a low profile life, working in the same field, but to become a public figure, you must be able to reach different segments of the population.
Some may know Mark Cuban as the man who was smart enough to cash out before the tech bubble burst, while others may know him as the outspoken owner of the MBA’s Dallas Mavericks franchise. Mark Cuban is able to remain in the spotlight because of his transparency and ability to tell it like it is.
For instance, Mark was one of the first major entrepreneurs to harness the awesome power of Twitter. His official, verified account now boasts nearly 3 million followers, many of whom do not even follow basketball. He gives his followers valuable insights into the business world and as a result, he has become a beloved public figure.
Top Dog: How To Impress and Influence People Around You by Andy Bounds
Credibility by Jim Kouzes
Powerhouse by Mike Clayton
Pocket Man by Scott Jordan
Charisma on Command by Charlie Houpert
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]]>People who are working towards their financial goals each day will often wonder what it takes to be a billionaire. We are often led to believe that billionaires are differentRead More
The post 7 Successful Attributes Of A Billionaire appeared first on The Entrepreneurs Library.
]]>People who are working towards their financial goals each day will often wonder what it takes to be a billionaire. We are often led to believe that billionaires are different types of people, who are only wealthy because they inherited generational wealth or knew high powered investors during the early stages of their career.
What these people do not know is that billionaires are normal, everyday people just like the rest of us. While some may have inherent advantages, there are several attributes of a billionaire that can be ascribed to most, as well as normal, working class people.
Here are 7 successful attributes of a billionaire shared by many expert authors on The Entrepreneurs Library:
When you research any billionaire’s life story, a common theme emerges. They were willing to outwork everyone else and remained focus, even in the face on extreme adversity. Some would like to believe that becoming a billionaire is the product of luck and genetics, but those who have actually done their homework know that this is not true.
A billionaire does not sleep in until noon. They are up before their competitors and constantly seek out new advantages, so that they can remain ahead of those who are pursuing the same goals. Everyone wants to be a billionaire, but very few are willing to put in the work necessary to do so.
Great book on building work ethics: 13 Things Mentally Strong People Don’t Do by Amy Morin
Once a person decides that their goal is to accrue a billion dollars, they know that this is a long term goal, not a short term pursuit. Being able to keep their eyes on the prize and not be deterred by setbacks is what separates a billionaire from the pack. They know that there will be issues that arise along the way and they do not allow themselves to become frazzled by them.
Without patience, it is incredibly difficult to become a billionaire. No one ever has a smooth path to their goals and financial pursuits are no different. Being blessed with the patience to realize that there is a solution to every problem and knowing whether you need to stay the course is incredibly crucial when you are on the road to riches.
Great book on managing patience and stress: Performing Under Pressure by Hendrie Weisinger
This is the attribute that confuses those who are not already billionaires themselves. Since someone has more money than they can spend, it seems somewhat foolish to let it sit in a bank account. But it is more crucial for a billionaire to have assets on hand to make transactions that can boost their financial status even further.
It takes money to make money in the modern business world. While it may be fun to blow your new earnings on a mansion, a fleet of luxury cars and a private jet, these are all items that depreciate in value the moment they are purchased. A billionaire is focused on remaining a billionaire does not make these types of purchases. They realize the importance of having liquid assets at the ready.
Great book on building wealth: Get Rich with Dividends by Marc Lichtenfeld
In order to become a billionaire, you need a new and interesting idea, a fresh take on things. One person’s route to earning a billion dollars is not going to be the same as the next person’s. To capture the attention the public, you need to think about the voids that exist in everyday life and find a way to fill them.
A person cannot come up with an inventive plan by thinking just like everyone else. They need to think outside of the box, which is an attribute shared by most billionaires. They know how to think differently than their peers and will zig when most have decided to zag.
Great book on innovation and creativity: Anticipate by Rob-Jan de Jong
Being insightful is about more than being book smart. Being insightful is all about knowing how to read people and deliver what they want. An insightful billionaire is one who knows that their wealth is not the be all/end all. They are constantly searching for ways to remain in tune with the world around them.
Once a person ceases to be insightful, they are no longer as useful to their clientele. A person with lack of insight is a person who does not have their finger on the pulse of what is currently happening in the world.
Great book on being insightful: Credibility by James Kouzes
Becoming a billionaire does not happen because the person decided to stand pat and stop taking risks of any kind. It happened because they were willing to stick their neck out for a cause that they truly believed in. Billionaires do not sit around and wait for things to happen, they make things happen.
The only way to make things happen is to take risks. This does not mean that a billionaire simply lunges at the first opportunity that comes their way. These risks are typically taken in a calculated manner and considered from every angle. Taking risks is a foolish endeavor when they are not properly considered beforehand.
Great book on taking smart risks: The Metronome Effect by Shannon Susko
What gets a billionaire through the hard times? Their unwavering belief in themselves. A person who has an unshakable belief in themselves can conquer any problem that comes along and reach any goal that they set for themselves. They do not wait for pep talks from close friends or read self help books.
They simply dig down deep within and find courage in places that they did not even know existed. They do not allow naysayers to deter them in any way and they know that everything they are doing is done with a purpose in mind.
Great book on confidence: Top Dog: Impress and Influence Everyone Around You by Andy Bounds
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]]>5 Ways Entrepreneurs Can Overcome Business Failure Now that you have started a new business, brace yourself for failure. Sounds a little pessimistic – doesn’t it? Well, every entrepreneur needsRead More
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]]>5 Ways Entrepreneurs Can Overcome Business Failure
Now that you have started a new business, brace yourself for failure. Sounds a little pessimistic – doesn’t it? Well, every entrepreneur needs to be prepared for the worst. Even super successful individuals such as Walt Disney, Steve Jobs, Colonel Sanders, or Henry Ford didn’t succeed at their first attempt.
In fact, it took most successful entrepreneurs and leaders multiple attempts to reach their goals. What was the likely key to their ultra success? It’s their approach that differentiated them. As Edison summed it up – “I haven’t failed; I’ve found 10,000 ways that don’t work”.
But the question is – why do startups fail often? The reason is simple – you just don’t have the necessary experience to run a business. This leads you to make many mistakes, and soon they start to make a significant impact on your day. No planning, forgetting taxes, emotional pricing, wasting money on unnecessary details, and so on lead to trouble.
And if you don’t identify your mistakes and rectify them on time, you end up as a failure. But if you think it is the end of the road, you are seriously on your path to a letdown in your life. It is at this time that you need to think and act and turn your failure into success.
How do you do it? Here’s how I’ve learned that top entrepreneurs overcome business failure:
Switch to a positive mode
No, it doesn’t mean you try to fake a smile and look happy even when you feel down in the dumps. It implies that you treat your failure as a life lesson. Don’t fight it; embrace it. Only then you will be able to understand what an experience it was. Create a spreadsheet and write down what you did right and what you didn’t.
Appraise your assets
Be it an office space that you have leased or great relationships that you have created – don’t ignore their potential. Consider what worked splendidly for your startup – was it your employees, or, your certain client relations, or, your intellectual property? Draw up a chart to understand and evaluate your best assets.
Sell off whatever you can
Whether you want to give away your business or sell it, you need to get in touch with the right people. If you think that it may still work, keep a percentage in it. If not, just give it away to a new entrepreneur. If you decide to sell, don’t be shy; contact everyone you know to see who you can sell it off to.
Read up
Akio Morita began Sony selling a rice cooker. But it burned the rice. Yet, Sony is one of the best success stories of today. Fred Smith almost failed his business management course with his business idea. It later developed into FedEx. And good old Edison actually failed more than 9000 times before he made the light bulb.
Most importantly, start again
Now that you have failed, you have two choices – you can leave it and go back to where you were before you tried entrepreneurship. Or, you can get up, brush off the dust from your fall and tread along towards your next venture. And when you choose the second option, you will have the lesson you learned to guide you.
Success in business, quite similar to success in life, is not dependent on whether you make it at the first jump. It relies on whether you have the courage to get up and get going and make your failure just a stepping stone on your journey to success.
The Art of War for Small Business by Becky Sheetz-Runkle | Listen to my interview with Becky here
The Road To Reinvention by Josh Linkner | Listen to my interview with Josh here
Getting Things Done by David Allen | Listen to my interview with David here
Invent Reinvent Thrive by Lloyd Shefsky | Listen to my interview with Lloyd here
The Pumpkin Plan by Mike Michalowicz | Listen to my interview with Mike here
The post 5 Ways Entrepreneurs Can Overcome Business Failure appeared first on The Entrepreneurs Library.
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