Learn From The Smartest Millionaire Minds in Business

As A Business Owner, Know This Before Launching... Or Fail!

While starting your own venture is a noble pursuit, and before beginning what could be a long process, you’re encouraged to seriously consider your motivators as a business owner.

Multimillionaire, Trainer and Bestselling Author of Secrets of the Millionaire Mind, T. Harv Eker has generated great income by guiding people to their business success and financial freedom.

He’s experienced the long road to starting a business all too many times and although he failed for a while, it took him 27 years to develop a winning recipe you can benefit from.

After all, he did go from Zero to Multimillionaire in 2.5 years, so I’d say he knows his stuff.

And he’d like to share his #1 piece of advice with you while you’re still in the planning phases of choosing the business you’d like to start.

Are you ready for Harv's reality?

Well, here’s his ultimate message:

Figure out what the driving force is behind your dream.

If you’d like to learn more about how best to pursue that dream even when it may be very challenging, then read this post until the end to see if Harv’s words resonate with you.

Know This Before You Start Your Own Business

If somebody told you, as you embark on your business startup journey, that 63% of all businesses tend to fail within the first 6 years of opening, are you still excited to start a business?

That percentage, Harv mentions, is according to the U.S Bureau of Labor Statistics

And what it means is that the majority of people have a slightly better than 50/50 chance of, at the very minimum, keeping their heads above water.

And we haven’t even looked at profitability yet!

Given this reality, Harv believes it’s important to be reminded of WHY one would like to start a business on the outset.

You may wish to make more money or to be able to take better care of your family.

It might be your desire to be a better parent, spouse or provider.

Or for you, it might be about having more… more quality time and more freedom, you know, more of the things that matter to you.

Some individuals start their own business because they believe it will provide them with greater security.

They realize they don’t have the control over their lives they truly desire by working for someone else who makes essential economic decisions on their behalf.

So for them, starting their own business means pursuing a completely different lifestyle, says Harv.

As much as all of these reasons are valid, and regardless of your answer, what remains is the fundamental question…

What is so very important about all of this?

What’s the driving force behind it all?

Consider Your Own Motivators as a Business Owner

Harv believes there’s an even greater motivator at play than the reasons mentioned above. 

To add to any of those reasons, if you’re pursuing entrepreneurship or business ownership of a larger concern with a global impact, you’re also expressing your innermost basic creative impulse to grow something unique.

We have a desire to bring to life something that didn’t previously exist and nurture such to our best ability.

It’s crucial to the success of your business to understand this base desire, according to Harv.

To realize this greater motivator helps to maintain morale while you’re starting out, and starting up your business.

Getting past the first few difficult years of any business’s lifespan, is not and cannot be only about money, insists Harv.

Yes of course money can be a component, especially since the primary reasons for owning a business revolves around financial freedom which is a worthy pursuit.

However, you must have this deeper desire to really create if you are to succeed. 

And don’t ignore the eccentric free-spirited nonconformist impulse to do something original.

Rather surrender to it.

When you’re building a business, Harv asserts that it’s best you get out there and start learning something new.

Erupt with a different core expertise and gain experience so you can build your business around something distinctive. 

With so many different basic human elements involved in creating a business - such as individual expression, accomplishment, care for others, freedom -  it tends to make one wonder how we could tolerate living if we did not start businesses of our own.

Unearthing Your Deeper Meaning

However, your reasons for starting up and becoming a business owner must be more than merely ‘success’ and ‘money’, Harv warns.

Even if by some miracle your business survives beyond the 63% mark, the bigger your business grows, the bigger the headaches become.

Harv says you can bank on it when he says that it only gets worse for you if you have no idea WHY you’re doing what you’re doing.

If you fail to understand your motivation, he reiterates, your chances of making it past the 63% average are ZERO.

And this, as per Harv, captures the essence of what carries the 27% of successful business owners over the threshold beyond the first 6 years.

They realize that numbers alone are not the only measure to their success.

Instead, they hold the understanding that their success, as a reasonable and responsible business owner, involves reaching deep within the self, their own creative spirit, and expressing that to the world in a purposeful and meaningful way.

It’s as much spiritual as it is material and we’d all benefit greatly, for the sake of ourselves as well as the impact we’d like to make on the world, if we honor that.

Conclusion: The Inner and Outer Game of Being a Business Owner

When you evaluate what motivates you to take action, you may find it’s different to what is currently taking up most of your time.

Your financial success will only grow to the extent that you do, so consider for a moment WHO you must be in order to be able to DO what it takes to bring your dream to life and most importantly…

What is the THING that fills your being with a sense of harmonious purpose, that touches every aspect of who you are as an expressive living entity and sums up your reason for living?

Being one with your WHY is not the only thing you must be deeply familiar with before starting your own business, but it is a crucial part of your foundation for success.

There are more elements that are equally critical to your success and financial life as a business owner but none of them will mean a thing if you have no motivation to drive your own success.

Is your personal reason for starting a business enough to ensure you stay motivated?

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Frequently Asked Questions About Being a Business Owner

Has your Mind ever wondered…

How do you become a business owner?

Whether you buy an already established business, or a franchise, or choose to start your own business, it will require the same basic principles to ensure its success.

There are some critical factors you can’t afford to go without, if longevity of your enterprise is what you’re after.

One of these critical elements is that whatever business you’re involved in, it must mean something to you… you have to care about the product or service, what it represents and who it serves.

Is being a business owner good?

Being a business owner is the only way you’ll build true wealth.

One of the best things about building a business is when you’re able to live out your passion and your purpose, and make a profit while living your dream and expressing your true self in a way that helps others.

The trick oftentimes is how to set it up in a way that sustains success.

As much as there are major advantages to being a business owner, such as being in a position where you make the rules and being able to provide something completely unique to help people with, if you don’t have the fundamental principles and strategies in place you will struggle.

It can be hard and stressful at times, and this is why it’s necessary to love what you do, be the right kind of person to be doing it, come from integrity and know exactly how to set yourself up for success.

How to start a successful business?

There are a number of elements to cover before starting a successful business and here are 4 of the basics if you’d like to make money and help people:

  1. Know your WHY - What is the REASON you desire to build wealth? What is the ‘THING’ that provides your life with meaning and purpose? And what within that field are you really great at to be able to help people solve problems? You have to provide the best solution that helps the most people more than anything or anyone else out there would, which is why being aligned with your Passion & Purpose is critical to your Profits.
  2. Know your YOU - WHO do you have to be, to be the kind of person who offers invaluable quality solutions to the problems of others? Do you have a millionaire mentality? What do you believe about yourself and who or what controls your habits? Self Mastery is not negotiable because what you desire will only grow to the extent that you’re willing to develop yourself.
  3. Know your BUSINESS - HOW do you set up your business to make sure it succeeds? Which systems, principles and tools are required to ensure you start up strong and will be able to gain momentum and sustain it? What must you invest in that will benefit your business most? Where must you apply your vertical focus to develop your products and services profitably? Knowledge is power, and excellent leaders are greater than any obstacle or challenge that every business will inevitably face.
  4. Know your AUDIENCE - WHERE should you focus your marketing efforts? What are the time wasters most people make a mistake with when choosing to market their products and services? How strong is your marketing message and how effective is your reach to have people line up at your door? Do you understand the requirements and demands of your target market? You must be willing to promote your unique value offer and get creative when reaching out.

What is the most important thing to a business owner?

Excellence in how you help people and great leadership in how you run your business.

Providing quality products, services and true value in your specific arena is crucial to your success.

Focus on that which helps people more, and on helping more people through vertical focus.

Be the best in the world and if you’re not, then continue to learn and grow until you achieve that status.

Learn then Do.  Repeat.

Because if you're not giving your all and living a life of purpose, what meaning does all the time you spend making money have?

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