Being an entrepreneur is a tough challenge that only a few people are built to take on. Sometimes you need a little motivation to move you forward when you feel like your business is beating you down instead of rewarding you. What you must remember during your difficult moments is that the successful entrepreneurs you look up to faced your same challenges — probably even more difficult ones. Yet, they still succeeded and built great companies that provided them with massive wealth. So, what exactly are you complaining about?
If you need a little motivation to help boost your morale, we have provided quotes used by entrepreneurs who are worth $100 million or more. Yes, that means this is advice you need to follow if you want to build a wildly successful business.
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1) “Remember you will not live forever” – Steve Job
Every day that goes by is a page in your life that you will never get turn back to. This means that you need to focus your time on doing things that will guarantee you success, instead of wasting time on things that have no value. While you are wasting time, your competition is busy staying focused on their goals — making your business only afterthought to your customers.
2) “Never be the smartest in the room” – Michael Dell
If you are the smartest person in the room, it means that you do not want your business to be the best that it can be. Your ego will be your downfall because you need to be the one who has all the answers, instead of having knowledgeable people around you that you can rely upon. Surround yourself with those who are smarter than you because they are the ones who will help you take your business far.
3) “It’s okay to ask for help” – Chip Wilson
You cannot do everything yourself and should not attempt to do everything yourself. When you are swamped with work, it is okay to delegate tasks to others so that your work gets done. When you try to prove that you can do everything, you will fail in your attempt trying to do so and look foolish in the process. There is no reason to exhaust yourself when there is help available to you.
4) “Failure is the foundation of success” – J.K. Rowling
You may be knocked down numerous times before you finally meet with success. Analyze why you failed at your previous attempts so that you do not make the same mistakes twice. Failures are lessons that make you better equipped to produce success if you learn from your mistakes.
5) “Unite everyone around a common goal” – Jack Ma
You need to provide your team with a goal that everybody can work towards. This takes their focus off their individual pursuits, and makes them focus on working as a team. When the success of the team is the focus, this leads to greater things being achieved because everyone in your organization is working on the same page with a shared goal in mind.
6) “”To be more productive, theme your days” – Jack Dorsey
You need to dedicate certain days to certain tasks so that you will know exactly what your day will consist of. For example, on Mondays you will focus on marketing, on Tuesday you will focus on sales and so on. This allows you to get more done each day, which leads to you accomplishing all of your outlined goals for your different business functions.
7) “Meditate to calm (and extinguish) your ego” – Ray Dalio
When you operate with an ego it harms your performance. You need to let go of your ego so that you can see things more clearly, instead of viewing things with your perceived bias. Mediatation has been a tries-and-tested method of doing exactly that. It makes you a better leader because your team is not fearful of having to deal with your harsh judgement. Therefore, your team becomes more productive and your organization achieves more.
8) “There is no “correct” way to be successful” – Tiger Woods
Do not try to do things the way others have done them if they do not work for you. You need to create your own systems that allow you to work more effectively. When you are not forced to conform to a certain standard, you work more naturally, which leads you towards successful results
9) “Unhappy customers are the best customers” – Bill Gates
Your unhappy customers are the ones who will give you the greatest feedback about your business. Their honest opinions are what you need to hear so that you can learn how to improve your service. This allows you to fix your mistakes so that your business is providing products or services with the best value possible.
10) “Your career is a jungle gym, not a ladder” – Sheryl Sandberg
The path towards success is not necessarily an upward trajectory. You will be pushed in many different directions on your journey towards the top of your industry. This does not mean that you are not on the right path. It just means you will have different pit stops that teach you valuable lessons about success.
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11) “Stop worrying all the time” – Walt Disney
Only focus on what you can control and do not worry about what you cannot. Worrying only makes you lose focus, which negatively affects your performance. When you have a mind that is clear of worries, you can think clearly and continue to perform without self-limitations hanging over your head.
12) “Treat customers like they own you” – Mark Cuban
Your customers are the reason you are successful, not you. Yes, you worked hard and hustled your way to the top, but the customer’s validation is the final piece that made your success possible. Therefore, you need to do everything possible to keep your customers so that you remain successful. Show your customers your appreciation and gratitude every single day for choosing your business.
13) “Create a “NOT to-do” list” – Warren Buffett
Even though you want to achieve so many things, it does not mean that you should chase every dream that you have. If you have a list of 20 things that you want to accomplish, narrow your list down to 5 things instead. This helps you maintain your focus on a few things, instead of being all over the place. When you do not have concentrated focus, you are not accomplishing anything because your efforts are spread too thin.
14) “Encouragement always outperforms criticism” – Charles M. Schwab
Instead of berating your team with your frustrations, you need to offer them your encouraging words so that they perform better. Discouragement only leads to low morale being developed, which leads to your business performance being weakened. If you focus on the good that your team is doing, while directing them on how to improve their weaknesses, you will create an environment of better productivity.
15) “Adding a new product won’t save your business” – Dave Thomas
You cannot depend on the release of a new product to save your business when your problem is management and operations. New things will not distract from the fact that you need to improve your operations and standards in order to improve the performance of your business. Instead of trying to cover up your issues with distractions, work to solve your problems.
16) “Build a business around timeless human desires” – Jeff Bozos
People’s taste may change as time progresses, but their basic desires will never change. When you determine what is most important to your customers, build your business around satisfying that need. Doing this will allow you to establish a business that is always in demand because customers need what you offer.
17) “Do less” – Evan Williams
The less you have to focus on, the more you can focus on providing an absolute solution to your customer’s problems. Trying to force yourself to do too many things takes away your ability to have this focus. Therefore, you need to delegate more tasks to other people so that you can focus on creating solutions, rather than wasting time on busy work.
18) “Done is better than perfect” – Mark Zuckerberg
When you waste time on trying to be perfect, you are doing yourself a disservice. You need to push your products and services out into the marketplace so that you can gain valuable feedback about what customers think about your offer. Do not be afraid of getting honest feedback about your product, such as customers not liking it. This allows you to correct your deficiencies and make an offer that provides the best value to your customers.
19) “Never stop learning” – Michael Bloomberg
Continual learning is how you become successful and remain successful. When you think you have nothing left to learn, that is the moment you allow failure to be welcomed into your life. There is something new to learn every day to make you a better person and entrepreneur. Seek out new information to learn so that you continue to evolve in your personal and business life.
20) “You’re better off being happy than rich” – Jim Koch
Of course, you became an entrepreneur to create a life full of abundance and wealth. But, there are many wealthy people who are extremely miserable. Use money as a means to provide a better life for yourself and help others. When you find something that makes you happy, money is just the tool that allows you to enjoy more of that certain thing.
21) “To erase the fears of failure, live your worst-case scenario” – Elon Musk
To truly understand the life of an entrepreneur, you must be willing to immerse yourself in a constant state of discomfort. This is the feeling you will have as you are building your business because nothing is guaranteed. Your money is tied up in your business, so the failure of your business means a deep hit within your personal life. Therefore, you have to be comfortable with risks and ‘going without’ in your personal life in order to succeed as an entrepreneur
22) “Learn how to slow down” – Oprah Winfrey
You will have so many responsibilities as your business grows and demand for your time increases. During the moments when things are most hectic, take the time to pause for a minute and reflect upon your life. You need to remember that a world exists outside of your business. Yes, your business provides you with an amazing lifestyle, but it does not control your entire life.
23) “Leverage the strengths of others” – Kevin O’ Leary
You are not strong in every aspect of business. Place yourself around people who complement your weaknesses. When you have people performing effectively in areas where you would underperform, it places you in a position where success will become a little more easier to attain.
24) “Family always comes before work” – Mohamed El-Erian
Never make the mistake of placing your business over your family. If you were to lose your business what would you have left? Your family. You never want to lose your family by making your business your first priority. Your business is important because it provides your wealth. But, after you make a certain amount of money, you are only creating more money that you could never possibly spend in your lifetime. Therefore, work with a steely focus and determination to spend your time where it matters most – with your family.
25) “People are essential to everything” – Steve Case
The people around you will either make you or break you. This is why you need to surround yourself with people who will elevate your performance and hold you accountable for your actions. Only be in the company of people who have the same values as you, and who want to see you be the best person that you can be.
26) “Don’t forget to be bold” – Marissa Mayer
You can play it safe if you want to remain a small business. But, if your goal is to be a business that dominates the marketplace, you need to focus on bold goals and initiatives to build a great business. Make your goals bigger than you think possible, so that you gain that extra edge to make your business really great.
27) “Be a dog chasing a tennis ball” – Drew Houston
Do not let anything get in the way of you turning your idea into a successful business. Stay focused on your goal, without allowing any distractions detour you from your course. Make your desire an obsession. When you are obsessed about providing a solution to your customers, you will work tirelessly to create a product or service of extreme value.
28) “Discover those who share the same values as you” – Howard Schultz
People who hold the same values as you will be on the same page as you.These are people you want on your team because they tend to think like you and operate as you do. There is no confusion about what needs to be done, and you are in agreement about why you work so hard to accomplish your goals. These mutual values lead to long-term business success that is built upon trust and hard work.
29) “Study the habits of successful people” – Brian Chesky
Successful people will provide you with the framework of how to think and operate in order to produce your own success. Studying their habits and implementing their behaviors will lead you toward creating a business that is wildly successful. Before this can happen though, you will need to develop the processes and systems that are used by those who are already successful.
30) “Ask yourself these three questions” – Jack Taylor
What’s the satisfaction level of our customers? Are employees having fun? Can we improve the way we do things? Asking these three questions will lead you towards creating a business that works towards meeting the demands of your customers by providing exceptional value. When your customers are happy, your business experiences consistent high sales in high volume.
31) “Do something you can’t do” – Dustin Moskovitz
When you have a burning desire to pursue a business idea that will not go away, you need to move forward on bringing that business into fruition. If you do not pursue that idea, you will forever regret your decision for not moving forward. Therefore, you need to pursue your passion and make it a reality.
32) “Be open about your mistakes” – Daymond John
No one in business is free of making mistakes. You need to be honest about your mistakes so that people will know the challenges that you overcame to build your business into a success. This makes your story have more meaning, and it shows people you know how to move forward from mistakes.
33) “Luck is fake. Concentration and tenacity are real” – Serena Williams
There is no such thing as luck when you have spent the majority of your life preparing for your opportunity to prove your worth. Average people mistake success for luck because they are not focused on success. Successful people know that success occurs when opportunity meets preparation.
34) “Be great, no matter who’s paying attention” – Henry Ford
Do not work in order to impress people. You should be working to build the best product or service for your customers. Focus on quality and value so that you deliver greatness to your customers on a consistent basis. This is what you have to deliver in order to gain a favorable position in the marketplace.
35) “There is no limit to improvement” – Sergey Brin
Just because your product is great does not mean that it cannot be outstanding. Although there is no such thing as perfect, you can work towards getting as close to reaching it as possible. Always strive for better and have your team possess the same mindset. When you have no ceiling that can be reached, you will continuously work hard to get as far to the top as you possibly can.
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36) “Never settle” – Martha Stewart
Do not become comfortable with being satisfied. You need to continue to push yourself towards challenges so that you reach new levels of performance and success. The more you push yourself to improve, the higher your level of success becomes.
37) “Study the losers, not the winners” – Dr Dre
You want to know what the losers are doing so that you do not make the same mistakes. Mediocre people and failures should provide you with enough motivation to not think and behave as they do. When you go the opposite direction, you are heading towards success instead of mediocrity.
38) “Don’t be your own worst enemy” – Nick Woodman
Although you want to be your own toughest critic, you do not want to beat yourself up so bad that you doubt your own abilities. You need to believe in yourself 100% because you are the only one who can will yourself to succeed despite the challenges you have to endure on your journey to success.
39) “Define your focus statement” – Phil Knight
You need to determine what your business will be known for — what it will be considered the best at doing. When you have a focus that guides your actions, you are determined to make your focus statement an existing reality. Therefore, you are not trying to be known for many things — you just need to be number one at doing one thing. This helps you make more money in the long-run, rather than doing many things and producing mediocre products and services as a result.
40) “Focus on one thing until you master it” – Peter Thiel
You need to master one thing before you move on to trying to master another. It is impossible to master many things at one time. You will need to be obsessed about what you are doing in order to master that skill. Therefore, you need to make sure that your employees are only focused on doing one thing and not many. This allows them to be better at their jobs, which improves the performance of your business.
Learn from the pearls of wisdom above to make the next bold move, approach the next huge prospect or even launch a whole new start-up. Learn from the best always and keep on hustling to achieve your goals. We hope you achieve your entrepreneurial dreams and make your business a wild success.
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