Lessons from Entrepreneurs

Embarking on the journey towards financial freedom is both exhilarating and challenging. Many have walked this path before us, leaving behind a trail of wisdom and lessons learned. In this article, we delve into the invaluable insights shared by a multitude of financially free entrepreneurs. Whether you’re just starting on your financial freedom journey or looking to enhance your strategies, these lessons are bound to offer valuable guidance and inspiration.

Leveraging Mentorship and Delegation for Growth:

  • Engage mentors early on; they possess the knowledge you seek and can significantly reduce your learning curve. Consider mentorship as an investment.
  • Don’t hesitate to seek assistance.
  • Recruit individuals who surpass your intelligence.
  • Delegate tasks that others can perform at least 70% as effectively as you.
  • Select financial advisors who treat your finances with the same care you do.
  • Enhance your productivity by delegating tasks and responsibilities.
  • Seek learning from those who possess what you desire, acknowledging that you won’t replicate their exact achievements. Absorb their knowledge and then implement it effectively. Study the practices of individuals who have attained your goals and put that knowledge into action.
  • Don’t be afraid to reach out to people. The people who struggle the most are the ones who are scared to pick up the phone and ask for advice or support.
  • If good people cost let than doing something on your own, its better to deligate.

Embracing Self-Identity and Personal Growth:

  • Avoid comparing yourself with others, as it fosters insecurity. Focus on your journey and progress at your own pace.
  • Accept yourself as you are naturally; don’t force yourself to conform to standards not natural to you.
  • Success isn’t solely about intelligence; luck plays a role. So prioritize what truly matters to you.
  • Not everyone needs to be at the top; being content with your position is valuable. Embrace who you are without feeling inferior for not being number one.
  • Financial challenges stem from personal issues, poor decisions, and traumas. Address these root causes and develop positive habits.
  • Identify and address the barriers hindering your progress.
  • Discover what brings you joy and fulfillment.
  • Your self-worth influences your earning potential; believe in yourself to achieve greater success.
  • Lack of confidence leads to avoiding hard work; cultivate self-belief to stay motivated.
  • Don’t let fear of judgment hold you back from pursuing your goals.
  • Take the time to understand yourself instead of chasing others’ versions of success. Focus on defining your own path and aspirations.

Embrace Fitness for Discipline and Respect:

  • Maintain healthy body weight
  • Achieve physical fitness to demonstrate discipline; being in good shape commands respect.

Prioritize Your Time and Energy.:

  • Value your time.
  • Your energy is your most valuable resource. Misusing it hinders your achievements.

Cultivate a Winning Mindset:

  • Emphasize mindset over skillset as it allows for flexibility in acquiring new skills.
  • Your mindset helps you understand your strengths and weaknesses, enabling deliberate improvement and leveraging your strengths.
  • Reprogram your mindset for success, focusing on achieving your goals and disregarding comparisons with others.
  • A winning mindset leads to winning outcomes.
  • Practice mental discipline by staying present and focused, freeing your mind for optimal performance.
  • Protect your mental space by being mindful of what you allow into your thoughts and beliefs.

Don’t listen to others, believe in yourself and be you

  • Avoid taking advice from everyone.
  • Everything you believe in intuitively is 100% right. Listening to other people and believing it, is your kryptonite.
  • Dream big, because when you achieve your not-so-got dream, you stop self-developing and slow down.
  • Confidence is key; it’s easily noticeable and impacts how others perceive you and your ideas.
  • If people wear you down, you get to anchor off
  • Be helpful, but prioritize your well-being and distance yourself from those who drag you down.
  • Biggest way to kill a big dream is to introduce it to the small mind. Guard, whom you share your goals and dreams with.
  • Self-awareness is crucial.
  • Invest in education as education gives you tools to make better solutions.
  • Believe in yourself and it is the thing that can’t be taught. The people who believe in themselves and are successful need the people who don’t believe in themselves, to get the labour work done.

Networking and the people you surround yourself:

  • Your social circle impacts your financial health. You reflect the average traits of those you spend time with.
  • Connect with achievers to broaden your perspectives and boost your confidence. Witnessing their success can fuel your own aspirations and dispel limiting beliefs.
  • Quality relationships are paramount. Surround yourself with like-minded individuals who share your values and goals, as they push you to excel and make the journey enjoyable.
  • Learn from everyone you encounter.
  • If you are in the room with some one who is doing better than you, ask questions till they ask you to shut up.
  • Have strong people around you when can up and tell you that you are doing wrong.
  • Never be the smartest person in the room. Surround yourself with the people better than you.
  • Network is your net worth but you can never going to make a network if you do not stand out.

Don’t give up:

  • Focus on delayed gratification. Taking shortcuts to get the results immediately, cause more problems later on.
  • Don’t take no for an answer
  • The golden role of business is to stay in business.
  • Building a brand that will last over a long time, does not happen over night.
  • Keep going. There will be times when you will want to stop. There will be times when you will want to quit. Those are the times you have to remind yourself that it is just the part of the process and you just need to keep moving forward.
  • Live the life which most people won’t, to live a life, which most people can’t.

Help others:

  • Be the source of what you seek.

Be truthful:

  • If you do not keep your word in the business, you have no business.

Work hard:

  • Entrepreneurship is losing constantly, with occasional wins.
  • The world becomes a better place when man plants seeds for future generations for the shade that he will never enjoy. Put your people, to be successful in the long run.
  • When we are chasing our goals, we eventually get sick of doing it for ourselves. Naturally, we find happiness when our goals focus more on making a difference for others.
  • Work like its up to you, and pray like its up to God.
  • Every entrepreneur reaches a point where there are financial challenges.
  • Procrastination is the assassination of your destination.
  • Riches in niches. After picking your niche, go for it and stick to it. Many people hop from one niche to another and feel nothing is working out. But, before they hit the brick wall, they change their niche without realizing that it was only a speed bump.
  • Embrace your struggles. Struggles shape who you are and will lead you to where you want to be. Realize that the struggles prepare you to be the person, that you need to be to reach where you want to go.

Communication:

  • Your ability to communicate is worth everything.
  • Get good at asking questions and following up. Learn the art of communication.
  • Listen more than you talk.

Strategy

  • Spend the money, in the ways it brings out impact. Money is the tool, spend it to get the information, further your network, to get into certain environment you are not exposed to.
  • Be the producer instead of being a consumer.
  • Make a business plan that has a legitimate pathway to growth. You should be able to show why it is worth the effort.
  • Be ok with rejection, it makes us stronger and we can learn from rejection and grow from it. It allows for more reps.
  • To move from 7 to 8 figures, you need to delegate work, as your time is the most valuable asset.
  • In the good times, prepare for the bad times, and in the bad times gear up as you need to be able to scale fast when the good time hits.
  • Do the opposite of what most people are willing to do.
  • If you want to become successful, learn from someone who is already there
  • Concentration builds wealth and diversification keeps it.
  • Always think what is in it for them, before you think what is in it for you. Do it long enough, and you will not have to worry about what is in it for you and it will be handed to you.
  • Be giving, don’t be just takers.
  • If you want to grow, grow at a sustainable pace.
  • Business is a relationship. Maximize the value of your relationship with your client.
  • Make failure worthwhile by having the understanding that when you are new at something you will fail and it ok.
  • Make small goals and reward yourself along the way.
  • Generate MRR – Monthly recurring revenue
  • Many people become millionaires during gold rush, selling shovels instead of looking for gold.
  • Investing in materialistic luxuries like cars and penthouses with earned money reflects a limited or poor mindset. True financial freedom comes from making money, channelling it into appreciating assets like real estate, and constructing a lifestyle sustained by the resulting cash flow.
  • Know more than anybody else knows by doing your research and you can build an incredible business with very little money.
  • Instead of working hard to make other’s business succeed, work hard for yourself and step out of your comfort zone.

Education:

  • School is only a tool, it is not the end to all.
  • Never go cheep on your own education
  • A dollar spent on yourself and the dollar never wasted.

Risk:

  • Take the risk or lose the chance.
  • You can only scale by leverage. Leverage makes the people who make big and who do not.
  • Take risk. Nothing ventured, nothing gained.
  • The biggest risks you take early in your life are the ones that will gonna pay off.
  • No one meets their full potential unless they take risks early on.
  • If you say you want to win, increase your risk appetite.
  • The vast ocean isn’t a threat to the small boat; rather, it’s the water that can enter and potentially disrupt it. Therefore, the key is to prevent water from entering the boat, and if it does, promptly remove it to maintain safety and stability.

Focus:

  • Instead of dabbling on things, jump in. Focus is the key.
  • Most of the successful people are married as they are focused.
  • Focus on your race and what is in front of you, everything will change in short time.
  • Focus on your own race.

Being Broke:

  • If you never felt broke before you do not have healthy enough fear, to work hard to achieve success.
  • When you are broke, it makes you think differently, as you can’t lose any more as you are already at the broken and from there you can go up only.

Things to Remember:

  • You can’t save your way to rich. Make more money.
  • Money is like a shit. If you leave it in a pile, it stinks. If you spread it around, things grow.
  • Wasting time and distraction keep people broke.
  • If you do the easy thing now, you get the struggle for the rest of your life. If you do the hard thing first and get it out of the way, success becomes easy.
  • When you ask God for something and you get challenges, believe that you needed those challenges to make you stronger and get the thing you asked for.
  • Have macro patience and micro urgency
  • Nothing comes easy and nothing comes over night and be patient and trust your path.
  • During your younger years, focus on developing your playbook. Don’t fear losses; be as willing to lose as you are to win. Use your losses to refine your playbook, and with this adjustment, you’ll achieve more victories.
  • The seventh wonder of the world is the power of compounding.
  • If you look for the easy way, you will never find the way.
  • Outworking every one your organization to be successful.
  • Work hard and play harder. You don’t take money with you, you take experiences with you.
  • Starting a company quite painful and it is like is eating a glass (i.e. you will have to work on the problems the company needs you to work on and not the problems you want to work on) and staring into the abyss (you will face a constant threat of extermination, as 99% of the companies fail.), so be prepared. It is not fun to start a company, it is periods of fun.
  • If you need motivation to start a company do not start a company. You need to be quite compelled to start a company.
  • You have to spend money to make money.

Essential skills:

  • Communication
  • Story telling
  • Sales
  • Marketting
  • Empathy
  • Leadership

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