Twenty-five successful entrepreneurs share their thoughts on how to attain business success.
Building a successful business is not easy, to put it mildly.
Considering 20% of businesses fail in their first year and 50% fail by year 5, opening a business is a considerable risk to undertake no matter what stage you are in your career.
Many people would love to start their own business but are afraid to do so because of the failure rate.
I wanted to find out what it takes to have a successful business. And what better way is there then to get the top tips from entrepreneurs who are out there crushing it in business.
So I reached out to several entrepreneurs who have successful businesses and asked them to give us their top tip for sustainable business growth. Their suggestions are not theories. You won’t find them in a college textbook. These individuals all are visionaries in their respective fields.
Here’s what they shared with me. I hope you find a way to implement a few of these!
1) Frank Ricotta
BurstIQ is the leading provider of blockchain-enabled data interoperability solutions for the healthcare industry. The company’s HIPAA and GDPR regulatory compliant platform uses blockchain, Big Data, and machine intelligence to build immutable health profiles of people, places, and things. More importantly, it empowers the interactions between them through a secure data ownership and granular consent framework that allows individuals, businesses, and governments to collaborate, share, analyze and unlock a deeper understanding of the diverse factors that influence health.
On success
“The first principle, the road to success is littered with the best technology. Build it, and they will come, never works. The second principle, nothing kills a bad product or service faster than good sales and marketing. You must deliver a quality solution that addresses 1 or more of the following 3 things:
- Solve an existing customer problem.
- Help your customers do something faster, better, cheaper.
- Allow your customers to do things they couldn’t do before.
In all cases, demonstrate a clear ROI. Finally, growing your business requires a lot of hard work. There is no such thing as an overnight success.”
2) Matt Sweetwood
LuxNOW was created to provide the best of luxury on one convenient platform. A secure and transparent peer-to-peer marketplace to access and share luxury autos, homes and yachts – when and where you want it. We’re driven by the belief that the combination community and technology is the intelligent way to experience luxury.
On success
“Success as an entrepreneur does not come to the faint-hearted. It requires a combination courage tireless work-ethic, imagination, grit, smarts a little bit of crazy. My key to is simply saying to myself that no circumstances can I fail and repeating to myself over and over, “How badly do you want it?!”
3) Jake DeMichele
I don’t like to think about the success that we’ve had so far but rather just focus on the present and future. If we continue to execute and provide excellent service, success is inevitable. There are a lot of entrepreneurs who get off to a fast start but lose a long term perspective. We haven’t been around long enough to feel like we’ve been successful; if we’re here in 10 years, then we can say we are.
On success
“Talk to every person you meet like they have the ability to change your life. You will shortly see that single connections are capable of accelerating the growth of your business. Your network is your net worth.”
4) Tamara Loehr
Tamara is on a mission to disrupt the beauty industry by encouraging consumers to ‘switch’ their purchases to one that is more ethical through beauty brand, the Dollar Beauty Tribe. Her range of eco-luxe beauty and wellness products are driven by a tribe of health and humanity conscious consultants and consumers.
On success
“My personal definition of success is not a specific milestone that I reach, but instead a journey of positive impact for myself, my team and the planet. As a global wellnesspreneur, and mother of two, I believe you are not a success in business if you fail at home. I blend my worlds, so I don’t compromise on the things I treasure the most in life.”
5) Kayla Ybanez
Kayla Ybanez of Kayla Ybanez Inc. has built a multiple 6-figure online coaching and consulting business from her daughter’s hospital room. She helps high-level network marketers scale their businesses on social media, without cold messaging.
On success
“Success is continuing to spread your message, that online business should always come from a place of service, and relationships come first before you ever ask for the sale. We are making a stand in an industry where prospects are seen as just a number, and challenging marketers to think differently about how they approach business.”
6) Jeff Smith
In the last 12 months, serial entrepreneur, Jeff Smith, has helped brands and influencers build followings of more than 30 million people. He’s recently combined his penchant for incorporating social-impact and supporting nonprofits through his ventures to found Charitable.com, which leverages top influencers and celebrities for social campaigns that give back.
On success
“Success will continue to be about entrepreneurs increasingly being their authentic selves, and embracing personal development. Going beyond the pure ‘hustle’ mentality, to one of striving to work smarter, not always just harder; dropping the ‘entrepreneur as martyr’ theme, and instead embracing a focus on overall lifestyle design for sustainable success.”
7) Isabella Silverio
Isabella Silverio is an online business coach that focuses on helping entrepreneurs embody a CEO mentality through building systems, hiring team members, and finding more freedom when it comes to working for themselves. She has helped hundreds of business owners scale to 6 and 7-figures through her methods.
On success
“It is said that the title of success is granted when others see you as successful, and that self-fulfillment should be what we chase after in our careers and passions. When we look outside of ourselves for validation, we rob ourselves of pure happiness. Next time you worry about being successful, ask yourself, ‘Am I pursuing my passions? Do I love what I do?’ If yes, then you are fulfilled, and no external benchmark can disqualify that.”
8) Heather DeSantis
As the Founder of millennial-led virtual PR agency, Publicity For Good, Heather DeSantis is a rising star in the industry backed by a strong team of 15 all over the world. Currently based out of a 23-foot AirStream, she is taking 2020 to travel in the country to meet with clients, engage with local influencers, and search for her future 100-acre farm across the US.
On success
“I firmly believe that all brands and entrepreneurs must look to add a for-good component to their business. No longer are you defined by your revenue, but by your positive social impact. All entrepreneurs must use their power and influence to positively impact their community.”
9) Megan Yelaney
Megan Yelaney is a business coach that works with online entrepreneurs specializing in helping attract and sign clients through social media strategies, effective marketing and messaging, and branding. She’s aided hundreds of female entrepreneurs to scale their businesses doing what they love while making the impact they know they’re meant for.
On success
“To me, success is freedom. Being able to control your career path, and meld your work with your personal life is a major reason that people turn to entrepreneurship. When you feel free, and like you’re doing the things that you want to do, that is success.”
10) Björn Öste
GoodIdea Inc, the Californian subsidiary of Swedish DoubleGood AB, has successfully launched its unique and scientifically proven blood sugar balancing mealtime beverage Good Idea to the US market. CEO Björn Öste, originally a software entrepreneur, is also a co-founder of the original oatmilk brand, Oatly, conquering the US (and the globe) by a landslide.
On success
“Success in 2020 must build on consumer confidence and the need for change. Companies that can deliver sustainability in the wider sense, comprising both climate friendliness and a healthy lifestyle are the winners when both individuals and societies are taking a new direction. The skyrocketing “diabesity” epidemic represents an enormous opportunity for food companies that can deliver attractive lifestyle change and make it easier for consumers to take responsibility for their own health, wellbeing and carbon footprint.”
11) Bill Moses
Flying Embers is a Hard Kombucha brand, the first brand developed and launched by Fermented Sciences, Inc. They are a leading innovation lab whose mission is to provide thought leadership in transforming the alcohol industry with better-for-you products.
On success
“In order to be successful in 2020, you have to be part of an industry that is being buoyed by a rising tide in your entrepreneurial pursuit, with a purpose-driven mission. Your authenticity is critical for building internal culture & for connecting with consumers externally. The combination of being on a purpose-driven mission in an on-trend growing category with an authentic voice is the winning combination for 2020.”
12) Melissa Ruiz
Melissa Ruiz is a Registered Yoga Teacher, Mindset Expert, and Online Soulprener Business Coach. Melissa quit her 6 figure job, got a divorce and now helps other women move past their own fears so they too can build the life and spiritual businesses they desire.
On success
“What got you here won’t get you to your next goal unless you are willing to constantly reevaluate what’s working and what can be done even better. The real work comes with the internal shifts we have to respond to as our business grows and on occasion blindside us. When you can pivot and respond to the situation rather than our own emotion behind it, well that’s a success. In 2020 you will see more and more people doing less to gain more.”
13) Evelyn Huynh
Evelyn Huynh is a certified Neuro-Linguistic Practitioner, Life and Success Coach, Clinical Hypnotherapist, Emotional Freedom Techniques Practitioner, and TIME Techniques Practitioner. She helps her clients break down all of their subconscious blocks, limiting beliefs and whatever is holding them back from evolving into the most epic version of themselves possible.
On success
“In my opinion, success is a peace of mind and is a combination of habits, beliefs and mindset which looks different for everyone. I always encourage to stay in your own lane and to define your own version of success because if you’re focusing on what everyone else’s idea of success is you’ll never achieve it, and you’ll never feel fulfilled. We are all given so many tools to succeed in our life and business in 2020, the question is: what does success mean to you?”
14) Tony M Fountain
Now Entertainment is a media company based in Gordon, Ga. Operating as an entertainment blog/digi magazine, recording studio, indy label, and artist service company.
On success
“Tip would be, Listen to wise counsel, but know the difference. Take note of, and measure the moves you’re making. Disregard the time it may take or the failures you may encounter along the way. Learn from the mistakes, revisit, revise and keep going!” – Tony M Fountain, Founder of Now Entertainment
15) Paul Claxton
We are a top industry awarded management consulting firm delivering technology-based revenue solutions. We are a cutting edge technology firm delivering marketing solutions of the future.
On success
“My tip on being successful is finding your individual purpose and your why before defining your how. Once you find your individual purpose, cultivate that and mold that into a business that makes sense for what your individual purpose is. You must understand that business is not about making money it’s about serving people in the public for the greater good with a solution a service or a product that is going to enrich peoples lives and advance society forward for the greater good.”
16) Spud Brown
We create, curate, cultivate lifestyle and art. We are media molders mixing life and entertainment.
On success
“You have to be the most comfortable in who you are first and foremost. Don’t let viewpoints or the fear of others in the form of opinion sway you away from your vision. And use every no to push you close to a YES.”
17) Jayy Manik
“My passion is in photography. Why I do it is cause I enjoy creating art in this way.”
On success
“My first tip is to be consistent any way you can to keep the progression going as that’s how you can grow your business.”
“My second tip is to think outside the box; if you do what everyone else is doing it has a lesser chance of succeeding than with someone who is doing something different.”
“My third tip is to change your environment, travel if you must it helps you to see the world in a bigger light and may influence more creative ideas for your future.”
18) Sid Clevinger
I am a Digital Marketer and Coach who specializes in helping people find their superpowers and build their dreams, leveraging their social media. My business is the Better Leads Institute.
On success
“Everything begins with authenticity. I remember when I first got started, and I thought people needed to see the “CEO”, ya know the guy in the suit and all, sitting up straight being formal and uptight. I quickly realized that being the authentic and powerful superhero you are everyday attracts the best people and customers into your life and business. Be who you were meant to be, and shine your light as bright as you can; that way you can help others do the same. We all win when we all win!”
19) Tiffany Toombs
I am an NLP and mindset expert that specializes in helping people let go of emotional baggage so they can overcome self-sabotage and limiting beliefs for good. My business is the Blue Lotus Mind Institute.
On success
“Consistency is the secret to fast-tracking success in all areas. So many people are looking for hacks or ways to cheat the system, and while these may work in the short term, they set people up for failure in the long run. Focus on the daily habits you can do to consistently work towards becoming the best version of you, to establish yourself as an expert and to attract the clients who will pay, stay and refer.”
20) Benjamin K Walker
We provide legal, law enforcement, financial, academic, medical, and general business transcription services. Our transcription services save our clients time and money every single day of the year.
On success
“Get as much PR as possible if you want fast business growth. No one can buy what you’re selling or providing if they don’t know you exist. I didn’t learn about PR until I had been in business for five years already and traditional methods like conferences and trade shows stopped helping us get new clients. That’s when I realized I needed to cast a much wider net and started investing heavily in PR.”
21) Chris Van Vilet
Co-owner of the outdoors brand “WOO! Tungsten”, Youtuber, podcaster, speaker and 4-time Emmy winning TV host.
On success
“The biggest thing I’ve learned is to listen. We have two ears and one mouth for a reason. Even if you think you have the greatest idea or the best product, your customers will tell you very quickly whether or not they care. And at the end of the day, that’s really all that matters.”
22) Blake Peterson
I don’t like to even put a title on what exactly I do because there’s so many things, one of my most important things right now in my life is my music career, how to promote and get my music to where it needs to be where it can be reached by a large group of people. What people don’t understand is that when you’re handling you’re music career on your own there’s a lot that goes into it, and most of it takes experience and doing something the wrong way before you learn how to maximize your interaction and success. This is similar to a business, except the artist literally is the business.
On success
“To achieve success in business, I think you need to be able to put in work when everyone else is at home sleeping or playing video games. When people tell you that you’re goals are crazy, and you work even harder to prove them wrong. You need to be able to take failure and turn it into success.”
23) Jose Luis DeVivo Quijano
At the IG Marketing Agency, our goal is simple: help our clients achieve theirs!
Our strategy is to make sure that our customers’ needs are always met and that their problems are always resolved.
On success
“Have the courage to pursue, what you really want out of life. Our businesses are means to (a) help people solve a problem by providing them with the right solution and/or (b) to fulfill a need. When you think about it, you are in business, and in life to serve others. When you are conscious about this, everything falls into place. Once you make sense out of this, once you TRULY CARE about helping and serving others out, it’s a done deal. Not only your business, your life will be rewarded.”
24) Stanley Scott
Our Townhomes on Vine development is located in Fort Collins, Colorado, which is one of the hottest real estate markets in the world. Situated nearby the amenities that make Fort Collins such a special place, our Townhomes on Vine turn-key approach is perfect for those seeking a low-maintenance lifestyle.
On success
“An entrepreneur is like the early sailor, who against all sensibilities cast off their line into choppy waters. The future over the horizon and unknown, the route uncertain and the risks substantial. While the journey may bring the entrepreneur significant material gains, often more meaningful is the satisfaction of succeeding where few others have braved to go.”
25) Jared Warren
Unique Island Assets is a diverse real estate company on St John in the US Virgin Islands that handles not only the sales of luxury second homes but also the management of them for owners who do not live on the island. In addition, we handle the marketing, sales and guest services for homes operating as vacation rentals on St John and a service company which does everything from housekeeping and maintenance to pools and landscaping, to full-scale repairs, remodels and construction.
On success
“We attribute our success in the Virgin Islands to a couple of main points. For us, we find that eliminating vendors as much as possible and keeping as much of the work “in house” as we can gives us a huge advantage in response time (we don’t believe in “island time”) and quality oversight for our clients. Service and humility are crucial, especially in a small community or even more on a small island. It’s important to know that despite your ego or your apparent position in life, that you still are “serving” the customer and must remain humble to the fact that without them, you have no business, the customer is not only right, they are your boss. Another reality about St John that has contributed to our success is the open and welcoming atmosphere. You can sit at a bar on St John, and the man to your left is a billionaire titan of the industry while the man to your right lives in a shack. They both have the same t-shirt and hat on. They both can offer wisdom, and I have been fortunate to have been mentored by some of the most powerful and intelligent people on the planet from this environment.”
A version of this article originally appeared on Richtopia. Syndicated with permission.