96% — Sounds like a random number at first, but there is a lot of meaning behind it.
It’s estimated that 96% is the number of entrepreneurs fail within the first 10 years of starting a business (Source: Inc.com Aug.12, 2015).
Pretty staggering, right!
Especially when considering some of the following…
When setting out to be an entrepreneur, it can be kind of scary.
There’s getting past the idea of being “just an employee” and transitioning to making it on their own.
Chances are most people do not strive to be a part of the 96%. Yet, this is where most of them “statistically” end up.
But I often wonder…
What about “the other 4%”?
How do they do it? How do they succeed?
What are the tricks and methods that successful entrepreneurs use to head down the path of success and how do they overcome the roadblocks along the way?
Success is both an adventure and a journey.
It’s a road that has to be traveled in order to achieve our dreams.
When traveling any road, I recommend a good map to guide you through. So read on to see our first destination…
1) Develop an Abundance Mindset
Mindset can be a funny thing. Most of the information available on developing mindset for success, gives us what I consider “useless” or non-actionable steps.
Things like “just think positive” & “believe”.
The truth is, we’ll never think positively or believe in ourselves UNLESS we actually succeed at something. Belief comes through results and one must first get the small victories, in hopes of reaching the bigger victories
When we succeed it gives our brain a reason to believe in ourselves & start thinking positively. Then we can:
- Set achievable goals.
- Focus & work toward them everyday.
- ACHIEVE the goals.
- We will naturally start to believe in ourselves more.
- We can repeat the process with different goals.
Some people might be thinking… “But how can we get rid of the doubt and worry WITHOUT even getting started.”
We’ll get to that in a second, but first…
Let me ask a question!
…Do you believe anyone can become wealthy?
If the answer was anything but yes, I’m glad to say (& you should be glad to hear) – ANYONE CAN!
But here’s the thing…
Anyone can… BUT very few (if any) actually will.
With the technologies and information available all around the world today – Now more than ever… it has become easier for anyone to achieve.
No one has an excuse anymore. Some of the wealthiest people in the world have risen up from nothing.
Take a look at this simple scenario to help illustrate my point.
If someone took a walk around the block, how many houses would they see? 10… 20… Maybe even 100?
How much would it cost to build each house there?
Depending on where you live in the world, chances are at least $100,000 (or more) right?
Think about it.
That’s a lot of money just sitting there in 1 tiny little neighborhood!
Imagine how much money there is in the entire town. How about the county or the entire state?
Look, there’s abundance all around us.
So, why can’t we all have a slice of the pie?
Well, if that’s what you may be wondering, I would say you’re asking the wrong question.
It’s not about getting a piece of the pie – that’s what the 96% do…
Why not just go out there and make your own pies?
That’s the mentality of the 4%!
We can make our own “pies”, and WE (not the government or anyone else) are the only one stopping ourselves from believing that we can.
We need to start SEEING the abundance all around us.
Once we see the possibilities that are out there, then our mindset will start to believe it’s achievable.
Do me a favor… Make THIS a habit.
Everyday, go outside & notice how many trees there are. Look at all the blades of grass in the yard. Take a look around. And let it all soak in.
There’s an abundant amount of potential around us. We need to train our minds to see the abundance that surrounds all of us.
Once we train our minds to see the abundance all around, our brain will subconsciously start to act in a more positive way that will allow us to begin setting goals & achieving them.
2) Choose Advice Wisely
Stop Listening to bad advice
There’s an old saying that, “Everyone has an opinion.”
In other words, everyone wants to give advice on what to do and if we let them, they’ll probably try to tell us how to do it, too.
But, let me ask this…
Why would we take advice from anyone who hasn’t been successful themselves? How can someone, who’s never done what we want to do, advise us on how to do it?
Want some advice from someone who HAS done it?
Here it is:
- Stop taking advice from Uncle Sam.
- Don’t listen to Uncle Mike or Uncle Johnny either.
- Your buddy in the break room (who works exactly where you do) doesn’t have the winning stock tip probably either.
Rule of Thumb: If someone hasn’t done what we want to do, or they don’t have the things we want to have in our life, we CAN’T take their advice.
It’s the proverbial, “blind leading the blind.”
Someone who doesn’t know the way or the path of how to get there, can’t give someone else the directions.
It just doesn’t make sense.
So, think about it…
Who are you getting your advice from AND are they actually QUALIFIED to give that advice?
Cousin Bobby who is out of shape, 50lbs overweight and played football 20 years ago, probably ISN’T the go to person, for advice on how to get a 6 pack of abs.
And if he tried to tell us, we probably wouldn’t listen, would we?
Of course not!
So why when we want to be successful in business or with money, do we go to our friends and family (who are often dead broke & don’t have either) for that advice?
Often times, instead of “helping”, they give us back MORE negativity like – “That’s impossible!” “What if it fails?”
Ever heard that before?
Listen, it’s not that they mean us harm or to hold us back. It’s just that most of the time, they can’t envision it for themselves. Let alone envision it for us.
Most people are afraid of the “unknown”. So, if it’s outside their comfort zone, they try to protect us from doing it.
We all have big dreams.
We expect these dreams are going to be hard to attain. We even know we’ll have to put in some effort, too.
But because the other person can’t IMAGINE putting in that amount of effort and sacrifice – they usually give negative & discouraging feedback, which can effect us from pursuing it.
When taking advice, be realistic…
We’re not going to ask someone who’s not an artist, how to paint.
So, we shouldn’t ask someone who hasn’t accomplished their dreams, for advice on how to accomplish ours.
Listen, I love people.
I cherish being around my friends and family. But I’m careful who I pick & choose advice from.
- Want to be wealthy? Get advice from a wealthy person.
- Want to be healthy? Get advice from a healthy person.
- Want to be happy? Get advice from a happy person.
We have to be wise about who we take our advice from.
Bottom line: If they haven’t done it themselves, then we probably shouldn’t take their advice.
3) Work HARDER, not smarter
Listen, eventually it’s good to work smart. And yes, it’s actually preferable and more efficient later on.
But when we’re just starting out, we have to work HARDER.
We have to put in the time & effort. We have to earn the right to work smarter.
Don’t get me wrong, working smart IS essential, but it’s only half of the equation.
No successful entrepreneur started out by working smarter from the beginning.
They had to HUSTLE! They had to put in back-breaking amounts of effort during every waking hour of the day.
Every moment they were awake, they were learning or working on something related to their business. Sometimes, for DAYS without any sleep.
Just ask the Billionaire: Mark Cuban (Billionaire owner of the Dallas Mavericks and serial entrepreneur on ABC’s Shark Tank).
He said it himself, “It’s not about money or connections, it’s the willingness to OUTWORK and OUTLEARN everyone.”
Or how about the richest man in the world: Bill Gates…
Apparently Bill never did anything other than code all day long. He slept at the computer, would wake up after a few hours of sleep and pick up programming exactly where he left off.
Bill worked harder, not smarter, in an industry already saturated with incredibly intelligent people.
Sometimes, being smart is just the level of entry – Bill rose to the top by outworking everybody else.
So, what does that mean for us?
No more excuses for starters 🙂
If we’re not where we want to be in our businesses, it’s usually because we simply need to work harder.
We need to be putting in more time and learning faster than anyone else. We have to sacrifice. We have to be willing to meet with people on weekends.
When everyone else is hanging out, having fun and sleeping in, we have to be willing to stay up late at night or get up early in the morning.
During startup phase, we have the choice of being productive or having a social life. If we REALLY want success as bad as we say we do – The choice for long-term success should be obvious!
But here’s the KEY…
The most successful people maintain the same level of persistence and drive year after year after year.
Most people burn out.
But that’s what separates those who are really successful from the amateurs.
Both types of people can be smart workers, but the ability to just suck it up & put their nose to the grind is what makes the difference.
As entrepreneurs, often times we must work smarter, harder and longer – because our competition already is.
Both hard work and smart work are essential.
It’s time to stop treating them as one or the other and as if they’re mutually exclusive.
4) Find a Community
Ever heard the saying, “You are the average of the 5 people you surround yourself with?”
Well it’s true.
Whether or not we like it, we are greatly influenced by those closest to us. They affect our thinking, our decisions, our happiness, & our habits.
This makes it a double-edged sword, though…
It can be bad, because no matter how good our intentions are – if we’re surrounded by negative people (who are constantly knocking us down and holding us back), then we’ll start to believe it too.
It doesn’t matter how positively someone thinks. Eventually, willpower runs out and the negativity WILL start to affect them.
But this is why it can also be a great thing.
If we know we’re not very positive or that we’re indecisive & procrastinate – we can surround ourselves with go-getters, high achievers, and people who are striving everyday to better themselves.
When we do this, we can’t help but to become better along with them.
Being in that type of environment, and spending time with them, will cause their habits to become ours.
- Want to become fit and lean? Be surrounded with people who strive to be healthy.
- Want to find love? Find people who are constantly going out and meeting others or who are happily married.
- Want to become wealthy? Spend time around wealthy people.
With that said, there’s one thing to be conscious of…
…While we want to be surrounded by positive, supportive people who want us to succeed – we need to prevent ourselves from living in an “echo chamber”.
Meaning, we need to be open to healthy critiques & criticisms.
Most people only want the positive feedback, but if we’re surrounded by people who only tell us how good we did, we’ll never be able to work on our weaknesses.
We’ll never become the best we can be. So make sure to also get feedback on negative aspects and be open to improving them.
5) Follow a Proven System
In my opinion, success can be summed up in 1 word: System.
Think about it…
Does McDonald’s have the best burgers on the planet? No, way… Yet, they have the best system of getting it to their customers.
No matter what McDonald’s, anywhere in the world, it’s the same thing:
Burger, one slice of cheese, ketchup, mustard, 2 pickles centered.
Heck, they don’t even give you condiments, unless you ask for them.
It’s a well-oiled machine that any high schooler can learn in a day.
But the power is in the system itself.
What I would highly recommend is finding a successful person who has a system for their success. Someone who can teach you THEIR system.
This happens everywhere you look…
Doctors have internships, lawyers have associates. Even Jedi’s have Padawans…
For our purposes here, we can simply call this person a mentor.
Close your eyes – Imagine having a mentor…
…Someone who’s walks the walk and talks the talk.
…Someone who’s sole purpose is to help you.
Imagine what that would be like?
But this ISN’T the time to imagine…
Open your eyes – Because I have just the person to introduce…
…Someone who has been there and DOING IT, over the past 15 years and has earned over $120 million online.
…Someone who earns upwards of $50,000 a day (just in consulting fees alone).
…Someone who’s empowering entrepreneurs to finally break through the barriers of earning their first dollar online.
Meet Anik Singal – my mentor. A man with a roadmap to success, who has created a long-term, sustainable business.
See, most people try to go at success alone.
They think in order to start a business, they have to be the next Mark Zuckerberg and come up with a billion dollar idea.
But that’s just not the case.
99% of success stories are made from people who looked at what other successful people were doing and followed their path.
Like Pablo Picasso said, “Good artists copy. Great artists steal.”
If Ray Kroc, the founder of McDonalds gave us a McDonalds franchise along with all of the instructions of how to run the company…
– Exactly how to hire & train the employees.
– Exactly how to plan & execute tasks.
– Exactly how to position the company & drive profit.
It would be impossible to fail, right?
That’s the entire crux of the franchise model — Model success!
There’s only 1 problem with buying a franchise, though.
Most people can never afford it.
Rarely, can a franchise be purchased for under $100,000. And if we really want any of the superstar chains – Good luck.
These 5 alone are out of range for almost anyone looking to start up in business.
- Taco Bell: $1.2 – $2.5 million
- Wendy’s: $2 – $3.5 million
- KFC: $1.3 – $2.5 million
- McDonalds: $955,708 – $2.3 million
- Pizza Hut: $295,000 – $422,000
And that’s just for 1 store location.
Luckily, the internet has changed this model for all of us.
It’s not just the rich people who were born into it that get to enjoy success. Nowadays, with the right tools.
We can copy the same systems, learning from the same successful mentors and potentially make our own millions – Without even .01% of that investment.
With the power of the internet (and the right system), it is easier than ever to copy the same systems, learn from the same successful mentors and potentially make the same Millions of dollars – Without even .01% of that investment.
In fact, Anik started & earned his millions from an original $100 🙂
For more great entrepreneurial training and inspiration, join Anik each week for Success Weekly. Mark your calendars and be there LIVE every Wednesday at 9pm EST.