7 Essential Tips From Famous Entrepreneurs

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Famous entrepreneurs are great at making commitments. They are good at making decisions, finding niches, selling their products and taking smart risks.

Small business entrepreneurs are experts in making great daily habits and the more famous entrepreneurs have some great tips to help us hone our mindset.

Tips From Famous Entrepreneurs

1. Persevere

Steve Jobs once said,

"Half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance."Steve Jobs
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He is so right. To be successful entrepreneurs we must keep on persevering towards achieving our goals, even if things turn sour sometimes.

After all, it pays to keep in mind the advice from communication and entertainment innovator, David Sarnoff who said,

"The will to persevere is often the difference between failure and success."David Sarnoff
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2. Keep Meetings Brief

Time is precious to entrepreneurs. Consequently we should not waste it by sitting in unproductive meetings that go on and on about tiny issues or have massive amounts of information to discuss.

Fred Smith, the creator of Federal Express, understood this concept when he said,

"If your business revolves around one idea, keep that idea foremost. Hammer away at it."Fred Smith
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By setting a time limit and a specific focus to our meetings, we are able to share and receive useful information in a short period of time, leaving us more time to do what we do best, being entrepreneurs.

3. Proper Prior Planning Prevents Poor Performance

The 6 P’s acronym is one entrepreneurs should remember.

It is essential that we plan our days so that we will achieve our goals. Scott Cullather, founder and CEO of inVNT, meets quickly with his team at the end of each working day to plan for the next.

He says,

"We review and forecast what tomorrow is going to look like and how we’re going to get through that … You get there the next day and are much more efficient and productive."Scott Cullather
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So we too should plan, plan, plan!

4. Delegate, Delegate, Delegate

Theodore Roosevelt said,

"The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it."Theodore Roosevelt
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In order to be successful entrepreneurs we must do what we do best and let others do what they do best. Careful analysis of each task needs to be done and delegated to the right person.

This is a very important skill to learn as sometimes our time can be more productively used elsewhere.

5. Identify Your Market Niche

Thomas Edison once said,

"I never perfected an invention that I did not think about in terms of the service it might give others … I find out what the world needs, then I proceed to invent."Thomas Edison
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A good entrepreneur knows that they must concentrate on researching, developing ideas, researching again and then implementing the ideas.

We need to ensure that we find what is missing, find out what consumers want and find a way to give it to them.

6. Work Hard

William Harley, co-creator of the Harley Davidson motor bike said,

"Life offers few guarantees, but generally the harder and longer you work, the more likely you will succeed."William Harley
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This is true with the making and keeping of our habits too. If we keep good working and life habits, we are more likely to reach our entrepreneurial goals. The trick is to choose which habits are useful to us and which are not.

7. Take Smart Risks

Benjamin Franklin said,

"To succeed, jump as quickly at opportunities as you do at conclusions."Benjamin Franklin
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While we don’t need to jump at every single opportunity that comes our way, we do need to jump at quite a few of them. It is a matter of picking and choosing ones that will benefit us in the long term.

Don’t be frightened of failure though. All successful entrepreneurs have failed before, but they just looked beyond the failure and think of it as a lesson that they had to learn in order to be more successful next time.

Entrepreneurship is a wonderful thing to accomplish. By keeping these six important tips of highly successful entrepreneurs in mind every day, we too will continue to follow in the footsteps of the world’s great entrepreneurs.



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