Today I want to talk about the secret to my success as an entrepreneur.
All successful individuals have certain key characteristics in common. There are several components that contribute to a successful venture, regardless of the nature, type or size of the initiative we take.
But there is one particular ingredient that is the “secret” ingredient that makes the mix complete, and successful individuals make masterful use of this ingredient.
So what’s this secret ingredient to my success? It is no other than taking action, or speed of execution.
Sounds simple in theory, but for some reason I see most people fail because they fail to incorporate this ingredient in the mix. There are several self limiting beliefs that prevent many from progressing in their businesses, and unfortunately those lies we tell ourselves is what keeps us from achieving success.
The truth is that achieving success is not as difficult as some make it to be. As long as you take thoughtful and calculated action, something is going to come out of it. You will either see positive results, or you will learn from some valuable feedback. Successful people don’t view failure as failure, rather as a feedback mechanism that helps them improvise and get better.
Why am I telling you something you likely already know? While you may already know what it takes to succeed in theory, sometimes it helps see others implement it in their own lives to achieve success.
When I first learned about Ebay, I remember picking up a book on it and I was selling online within a couple weeks. I made some money but in the process realized that this is not what I wanted to do and quickly moved on taking with me some invaluable lessons of doing retail business online.
I leveraged my Ebay experience into starting an e-commerce website which I later sold for $250,000. I had my share of success running this business and also learned some valuable feedback that I marched forward with.
It took me 6 months from the time I learned about niche sites till establishing one. But after I established a profitable niche site, I moved on to establish several others, selling some in the process for a healthy amount in a very short time.
This is the longest I’ve taken before implementing a concept, and I admit I made a mistake. I left so much out on the table. I did the same with ebooks, and now successfully selling over 20 of them on various platforms online.
With this blog I am attempting to develop an authority website, and because of the success I have seen in just 2 years, I have started another authority site which I work on whenever I get some time.
Most recently I also started an SEO firm, purely because of the tried and tested methods I have experimented with as part of engaging in all the previous ventures. To go out on a limb, I have also started to develop some Iphone applications.
And this doesn’t even include the various offline ventures that I either started or am a part of.
Were / are all of these ventures successful? Some are while others aren’t so much. From a financial perspective, many of the things I tried didn’t work and resulted in a negative return on investment.
But what’s common is that each has taught me invaluable lessons that has improved my human capital and as a result contributed to my success today. I possess the knowledge to execute any of these ventures better today than I have in the past.
What’s also important to note is that I took action. I learned as much as I could until I was comfortable and then I implemented immediately. Don’t get stuck in the ready-aim, ready-aim rut. Take action and see where that takes you. You may succeed, or you may learn lessons that will help you with your next venture.
I wanted to share with you these initiatives so you can see that success doesn’t happen overnight. It is not a destination, rather a journey of continuous learning and improvement. I have either succeeded or learned something valuable from each initiative simply because I took action.
I was quick to implement what I learned and as a result quickly realized what works and what doesn’t. The beauty of this approach is that you can quickly shove aside what doesn’t work for you and concentrate on what does.
A by-product that I have benefited from out of this process is the establishment of multiple streams of income, some small and some larger, purely due to the speed of my execution of each of these ventures. Each feeds off the success of the other, which collectively creates a parlay effect and makes one big successful portfolio of income streams.
What I want to emphasize is that none of these in their own right is a big stand alone success worth bragging about. In other words, you don’t necessarily need to find that one great idea that will make you millions. Your millions can very well come out of a combination of several smaller successes.
In the game of baseball, singles, doubles, triples, walks and even bunts count. They collectively add up to runs that help a team win a ball game. Success is the same way. As long as you keep trying, you will hit some singles and doubles, and occasionally hit one out of the park as well.
However, don’t feel that hitting a home run is the only way to succeed. As long as you keep showing up to the plate to bat, you will make progress and eventually find success.
What is stopping you from achieving success? What is keeping you from taking action?Previous: Information Diet for More Productivity – Only Consume What You Must