Top 5 Entrepreneurship Lessons From Most Successful Entrepreneurs | Life Lessons | Startup Stories

visit our website start up stories dot iron for more inspirational stories and updates from the startup world [Music] in life the number one thing that people screw up on is this they buy stuff they don’t need it’s that simple go look at your closet sometime 80% of the crap at the bottom of your claws that are closed you don’t wear anymore and you get paid for the cause you thought you needed them and you wanted them imagine if you could turn all that stuff back to cash or better still you never bought it that cash to be in the bank right now making it your speed or an investment that pays interest or dividend but no it’s sitting at the bottom of your closet get money that’s what that is that’s a huge problem so think about this let’s say you actually owe 200 bucks on your credit card and you’re passing a hot little coffee spot and you’re thinking about getting a cappuccino for two dollars and thirty cents don’t do it pay off the 20 bucks first don’t spend money on stuff you can’t afford it costs fifteen cents to make coffee your pegs will be two dollars and thirty cents the rest of that could have been used to reduce your debt that’s the whole deal don’t buy stuff you don’t need make sure you go through every single month in a way that you respect money that you somehow pay back [Music] you look at the world around you where ideas were born where individuals started in garages where did Microsoft where did Apple where did Amazon where did Google where did Facebook come from they came from ideas that people felt something could be done and that they could make a difference so as you go out into this world I would hope that you look at being ethical and holding the value systems which you want this country to have if you think you cannot make a difference I’d say you very well can make a difference if you so desire if you speak or sit next to Nobel laureate he never tells you that he won a Nobel Prize other people tell you so let humility be your best defense and I would say that you always need to take a view that and you shouldn’t nearly consider yourself successful based on the prosperity you gain for yourself but you should go home at night feeling satisfied if you have made a difference that difference is something each one of us can make will have failures and we vent frustrations but it’s a continued commitment that we have to the world around us [Music] you know working the real world I would say you know it is important to be well-rounded it’s important to you know try different things you know take some risks and you know and you wanna aim high enough that you fail you know a few times I think that’s the natural part of the process if you work on really difficult things you’re better off because you have no competition others aren’t working on that difficult problem and even if you fail you end up doing something great in the process [Music] by a device to the young people any mistake with a wonderful revenue for you so I taught myself and told my young people before 20 years old be a good student wait to intrapreneur just to learn some experience before 30 years old follow somebody go to a small company normally in a big company it is good to learn processing you are a part of a big machine but when go to small company you learned the passion you learn the dreams you learn how to do a lot of things that’s what one time so before 30 years old it’s not which company you go it’s which boss you follow it’s very important a good boss teach you differently from 30 to 40 years old you have to think very clearly were you working for yourself if you really want to be entrepreneur when you’re 40 to 50 years old you have to do all the things that you are good at don’t try to jump into the new area it’s too late you may be successful but there the rate of dying is too big so 40 to 50 think about how can focus on things that you are good at but when you have 50 to 60 years old work for the young people because young people can do better than you so rely on them invest on them making sure they’re good [Music] I’ve told a lot of people it doesn’t matter how many times you fail if you get it right you’re an overnight success all you gotta do is get right one time I mean the thing about being an entrepreneur is this it’s just all to you you know a lot of people like to make excuses I don’t have connections I don’t have money I don’t have this but you know if you find something that you like to do or love to do be great at it and see if you can turn it into a business in worst case you’re gonna have fun doing what it is you love to do in best case you can turn it into a business I I’m just not big on excuses I just think if you’re really you everybody has that opportunity to go for it they just kind of do it you know I sold powdered milk and that was disaster I had a my senior year project in Indiana was opening up a bar that got closed because of what t-shirt contest with a 16 year old that was a disaster that was good because it kept me out of the bar business I got fired from my first job in the software business because I wanted to close the deal instead of going out and closing the sale I mean instead of coming in and sweeping the floor you know it didn’t matter how many times I failed I just kept on going and going and going in entrepreneurs need to realize that sometimes it’s not the idea you know it’s not beat it’s not who you know it’s not how much money you have access to it’s really finding something that you you really love to do I had no idea I love computers and technology none I mean I took one class in Indiana and computers and I cheated to get through it it was portraying and then I bought a little PC in 99 for a from Texas Instruments for 99 dollars started teaching myself to program and found you know four hours later five hours later I was I would look up and I’ve been working this entire time and I loved it and so that was the difference when I finally thought I failed a lot of times and I really I didn’t know where I’d find my success and then all of a sudden I started playing with pcs and technology and it just clicked you you

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