You can be on Entrepreneur’s cover!

Top Practices of Fortune 100 Companies Use these four key tips to make your business thrive.

By Allison Maslan

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

PeopleImages | Getty Images

When it comes to out-of-the-ballpark business success stories, many entrepreneurs find themselves wondering just how those businesses made it all work. Here are four key practices that have not only helped me make tens of millions of dollars over the years, but which have also supported the companies I work with in significantly driving up their profits.

1. The person who gets up the fastest wins.

The difference between an average business owner and someone who is outside-the-box successful and really able to reach their goals comes down to this: We all get knocked down, rejected and disappointed. Projects don't work out. We lose customers. You lose a big sale. Someone on your team quits. That's life, and that's just part of business. What separates those who succeed in business from those who don't is the time it takes them to recover after a setback. Those who thrive get back up quickly.

Related: Ben Affleck, Helen Mirren and Other Stars Talk Failure and Secrets to Success

Of course you'll feel down and disappointed sometimes, but if you want to succeed, you've got to keep your eye on the big picture, get back up and keep going. Some people get knocked down and then get off track for weeks, a month or even longer. If you stay focused on the big picture, you can turn things around within a week, maybe even within a day. Look at the lapsed time that it takes you between getting knocked down, getting up, brushing yourself off and getting back out there again. Minimize that time, and you'll maximize your success.

2. Surround yourself with influencers and focus on the power of relationships.

When I started doing this, I saw a dramatic difference in the opportunities coming my way and the doors opening for me. Greek shipping magnate Aristotle Onassis was asked what he would do if he lost everything tomorrow. He said he would go out, get three jobs, make $500 and spend it on one dinner. That dinner would put him at a table with high-net-worth influencers. You know that saying that you are is the culmination of the five people you surround yourself with most? If you want to raise your success to a higher level, you've got to surround yourself with people who are already there. Understand the value of relationships and work constantly to nurture those relationships. To really grow your business, you've got to network and get yourself out there, not stay at home and hide behind your computer!

Related: How to Create a Successful Marriage Between Brands and Influencers

3. Get a mentor.

Business isn't easy. If it were, everyone would be doing it. To really thrive, get the support of someone who walks his or her talk -- a mentor who has been there and done it before. You'll have frustrations in your business. You'll get overwhelmed sometimes. You're emotionally connected to everything that's going on within your company. All that being true, it's easy to see why we don't always make the best decisions.

We don't always stay on track. We get shiny-object syndrome. A good mentor is going to pull you back in and keep you focused and accountable. They'll help you determine where the holes are in your business, where money is falling through the cracks, where you want to be financially and how to get there. They'll hold your hand and guide you. I wouldn't be where I am now without a mentor, and I've had one since the very beginning when I launched my first business at age 19. I was smart enough to know that I didn't know a lot. I wanted to learn faster, so I found a mentor to help and guide me.

Related: How to Pick Influencers and Land Your Mentors

4. Do what your competition is not doing.

Look at what your competition is doing. Then look at what they're not doing and do that. You want to stand out from the rest, not fall into the sea of what everyone else is doing. You want people to notice you and say, "Wow! That's different. That's creative. I really need that." It doesn't have to be something majorly different; it could simply be a different style of doing business. Maybe you allow dogs at the office and your competition doesn't. Maybe you connect with your customers on a more personal level that makes the idea of working with you more attractive to them. Find what you do differently from anyone else and present that outwardly for all to see.

Honing these four crucial practices will make a world of difference for you and your business. Knowing is half the battle, but the key here is to take small, achievable steps towards your goals. Implement these tools, and you'll be well on your way to resounding success.

Allison Maslan

Serial entrepreneur and business mentor

Allison Maslan is founder and CEO of Pinnacle Global Network®, offering business programs to established business owners. Her book Scale or Fail (Wiley, October 2018) hit #1 on Amazon before its release.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

He Took His Side Hustle Full-Time After Being Laid Off From Meta in 2023 — Now He Earns About $200,000 a Year: 'Sweet, Sweet Irony'

When Scott Goodfriend moved from Los Angeles to New York City, he became "obsessed" with the city's culinary offerings — and saw a business opportunity.

Business News

Some Costco Stores Are Now Selling a Frozen Item That Looks Just Like a Trader Joe's Fan Favorite

The Frozen Kimbap is a Trader Joe's cult favorite, and now a version can be found at Costco, too.

Science & Technology

AI Will Radically Transform the Workplace — Here's How HR Teams Can Prepare for It

HR intrapreneurs are emerging as key drivers of AI reskilling, thoughtful organizational restructuring and ethical integration, shaping an inclusive future where technology enhances both efficiency and employee development.


Why This One Unique Marketing Approach is the Key to Business Growth

Adopting this approach now will help you succeed and see consistent, measurable growth over the long term.

Health & Wellness

How This Millionaire Investor Overcame Opioid Addiction to Become the World's Fastest Marathoner Over 50

Ken Rideout shares five invaluable lessons for achieving peak performance physically and mentally.