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Advice From 10 Successful Entrepreneurs

Advice From 10 Successful Entrepreneurs
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By Tyler Penske

According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. Although entrepreneurs do not always have the answers they need before starting a business they are forced to figure it out very quickly. There is nothing worse than feeling as though everyone else has figured it out but you. Learning from successful entrepreneurs is a fantastic way to increase your chances of "figuring it out" twice as fast. We wanted to help you out along your entrepreneurial journey, so we decided to interview 10 successful entrepreneurs and asked for their candid advice. Take advantage of this opportunity and use it to your advantage while starting up your new venture.

Patience & Persistence

“These are the two most important factors for success. After having had my head down for twenty-four months, I looked up from my desk one day to see twenty-four incredible employees, in four different countries, appropriate but substantial venture capital in place, and a beautiful product on the way.” Collin Vargo, Founder & CEO of QuickTutor

Not Every Opportunity is For You

“I’m an advocate for dreaming very large. However, on your journey to achieve these dreams you really don’t need to take advantage of every opportunity that is presented your way. In fact, the greatest people in the world will tell you that it is actually the opposite. Many opportunities require you to say no. You must let go. Life will still go on.” Kaivan Dave, Founder of Glyder, and creator of Staying Uncomfortable

Female Power

“For all females out there never let the “Glass Ceiling” stop you from trying to accomplish your dreams. If I would have listened to the people that didn’t compliment me the best I wouldn’t be where I am today. Set Goals, Accomplish them and reward yourself.” Tracy Lear, Co-Founder of TLSL Brands

Set Your Goals Extremely High

“My biggest advice in business is setting your goals extremely high and having a “whatever it takes mentality” to reach those goals. How can you run a race without a finish line? If you aren’t working towards your goals than you are aimlessly spinning your wheels in no particular direction. Never be satisfied. Comfortability awards complacency, always be pushing for growth of new ideas and products etc.” Skylar Lear, Co-Founder of TLSL Brands

Stay Consistent

“When I decided that I won’t accept anything but success, my whole world changed. In the beginning, I tried creating several businesses [but didn’t find the success I was looking for. I learned that if I stayed consistent on one business I would have seen success 10x as fast. Never give up.” Nick Fitzgerald, Vice President of Ecommastery

The Power of Networking

“I believe that the biggest mistake people make is diving in too soon..asking for a favor. The key to success with networking is “Give before you receive.” When someone feels a genuine connection, the more comfortable it is to connect.” Jeff Bunt, Founder & President of Ecommastery

Controlling Your Visuals

“Controlling your visuals from the start is absolutely essential for developing a respected and enticing brand. Build your library of custom imagery quickly to make sure your creative needs never slow down your business goals. Hire the best people you can, and take control of your photos and videos, for they are both the first and lasting impressions of you, your team and your company.” Justin Pauly, Founder of Nomadic Creative

Work Hard & Smart

“It sounds cliche, but the amount of time you spend working on something is the largest variable to whether or not you succeed. This doesn't mean to mindlessly spend every minute of every day working. Find the most efficient way to achieve your goals, then put in the work. When starting a business, you won’t be successful when only working when you have the time. Prioritize what’s important, and get to work.” Drew Lauinger, Co-Founder of Sway Media

Mimic, Modify & Enhance

“This does not mean to throw innovation & creativity out of the door. Study the habits of those who are successful, in any space. Mimic their ways of operating. Implement your own spin on things. Use this process to make prudent business decisions.” Nick Ravid, Co-Founder of Sway Media

Execution is Vital

“Your game-changing, earth-shattering idea is not unique.  Ask yourself if you are really passionate about it If the answer is yes, it is time to execute. Get things done. Execute. Never wait until tomorrow. The hardest thing about starting a company is also the easiest: start. right. Now.” Kevin Callahan, CEO of Maggie Louise Confections

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