Discover the Secrets of Successful Entrepreneurs- 10 Tips for creating a Multi Dollar Business (PART 1)

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Back in 2019, when I decided to take a leap and have my own company a lot of questions ran in my head. Is it worth it? What will be the consequences? How I’m going to accomplish my set goals and so on. With multiple feedbacks, countless nights one day I finally concluded and I registered MILLION BILLION DREAMS HUB PRIVATE LIMITED in my hometown Ujjain, India.

The whole effort to make MBDH a successful company was similar to going for a walk without my shoes on. During the first few days of the journey, I had experienced many barefoot moments in front of strangers. I was hurt by a lot of shrapnel in the knees and sometimes got cuts on them but managed to keep walking because I knew that if I fell and cried due to the pain, it would be disastrous. So I always pushed myself up and kept walking until the wounds heal. By then my spirit kept growing and I learned to walk better with every step I take.

This blog post is a compiled list of advice I wish I had received when I started my journey. It comes from the people I met, books and blogs I read, and advice from my seniors.

  1. Build a Bigger Tool Box

Learn and develop a toolbox that can fix anything from the simplest task to the most complex. Your toolbox should comprise experts in various areas of the field, your go-to contacts. Adopting new tech ideas and most importantly keeping them up to date.

You can reach out to these experts and they will guide you throughout your many projects. With new tech ideas being introduced daily that ensure that you are up to date with the best of tech in the world.

Inside your Tool Box, you will find PRACTICAL methodologies that are supported by leading experts. The more I learn the more I realize how little I know, that is how it started, and that is why I suggest everyone to build a mighty personalized Tool Box.

2. I will take the Porsche and the Ferrari

If you have two choices, take both. Channel your desire to seize every opportunity and make the most of every moment into a kickass life. You owe it to yourself—and everyone else who’s counting on you.

Sometimes, the best decision you can make is to take multiple routes. Opportunities are everywhere, and you’re not a quitter. The world needs you to chase your dreams.

3. The “Big Picture”

Have you ever had more than one project going at once? If so, you’re not alone. Often, we have multiple ideas in the ways of implementing a new course, expansion, or project. Often it’s difficult to choose one idea over another in the face of so many options. It can feel like you’re choosing between dead ends. If you connect with such experiences as overwhelm then it’s time to resolve this challenge and look at overcoming this challenge as part of your overall growth.

Regardless of the case, if you’re finding it hard to prioritize your projects, it may be time to re-evaluate the effectiveness of your current approach. The key is to put some thought into how you’ll organize your projects in relation to one another. If you have several small goals that are all connected (e.g. create 10k blog posts), then it may be best to look at the bigger picture and make decisions according to your long term goals and de-bunking the not so fit ones.

4. To get great results start at the top and work your way down

It is often alleged that the most successful people in business start in the middle. They see their opportunity and strike while the iron is hot. So what’s the secret to success that so many people claim to find? A clue lies in a study conducted by Columbia Business School Professor Barry Lynn. He examined more than 300 German entrepreneurs who set out to create the world’s best manufacturer of refrigerators. Over 17 years, only 5% of those who started at the top ended up at the top. Those who started near the middle had an 18% chance of making it to the top, while those at the bottom had a 37% chance.

There is no magic formula for becoming successful. It takes persistent work with a clear strategy—and lots of bad luck. Start with what you know. If you’re a writer, build your visibility and then work your way up from there. If you’re a videographer, get your beats centered before you start shooting. If you’re a musician, play lots of shows and make a lot of videos before trying your first big project.

As Bill Hicks once said, ” If you plan things properly, it’s amazing how much you can accomplish. “

5. Learn the rules to break the rules

Learn how to be an Innovation Ninja – those who know the rules, and know-how to break them. Whether you want to find inspiration, solve a problem, make unique connections, get a good idea started, or create something amazing.

Be spontaneous. Use low-risk, low-cost experiments to find new ideas. Many are tried, and most don’t work; one does. You need a great team. Share credit and reward failure as well as success. Have absolutely no fear about making mistakes or failing-gamble on innovation with an “innovate first, apologies later” strategy. Always remember innovations can happen everywhere – they are not restricted to Apple, Google & Intuit; or startups. Innovation Ninjas exist in all companies and companies of all shapes and sizes. They’re in every industry.

“To think that you have value is not enough. Your value has to be recognized, and you have to recognize yourself first. “

That is how Laurel Thatcher Ulrich characterizes the discovery phase of entrepreneurship.

So, what you’re waiting for?

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