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How To Start The Next Billion-Dollar Business In 5 Easy Steps

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This is the story of a man who lost everything he had and then triumphed to create the best company I have seen in many years. The story has many lows and plenty of highs. By reading it, you will learn how you can take what this man did and use it to build your own billion-dollar business.

I know what you’re thinking, “Tim this sounds like total BS!” It’s not. You have to believe that anything is possible, and once you get to that state of being, having the type of success I am going to describe in this story, is not as hard as you think.

Enough putting pork on top of bacon, I’m going to show you how you can start the next billion-dollar business in 5 EASY STEPS:

 

1. Surround yourself with winners

Business is tough in the beginning. You’ll need a multitude of experts to be able to execute on your vision. Find out who they are for your industry through LinkedIn and then contact them. Keep trying every expert until one of them agrees to talk with you. Then, sell the vision of your business.

 

2. Call anyone without hesitation

This is a key skill. Your business will need money; otherwise, it’s going nowhere. Unless you are rich already, you better get used to calling investors and Venture Capital firms without hesitation. My friend that built the next billion-dollar startup rang an investor in San Francisco during his first month of being open for business.

He had no strategy, no product, and no team. All he had was a vision and some mighty fine communication skills. These basic skills got him $100K over the phone to start his business. Hesitation and fear will prevent you from ever owning a billion-dollar company.

 

3. Have an infectious personality (be honest and humble as well)

A personality that screams to everyone that walks past you that you’re a good person. Don’t be afraid to talk about your previously failed consulting business and tell people your bankrupt. The more honest you learn to be, the more honest people will want to help you.

Begin to catch up with everyone you know who will be required to pull off this crazy vision for a business that you dreamt up while out on the booze with your mates. Approach the company who has what is needed to facilitate your business model.

Walk through their big glass doors and sit down on their ten-year-old leather chairs. Tell them who you are and why you want their help without any sense of arrogance. Always listen to their feedback and show them you’re a lifelong learner.

Be prepared for them to laugh in your face and tell you to get F%&$#@. Find the one person in that company that believes in your dream and in you. Get them to give you the product you require and to officially back your business.

Then, a few months later, hire this person and bring their contacts and knowledge into the engine room of your startup.

Bad news

When everything is going in your favor, pick up the phone, and be told by one of the guys behind the big glass doors that you are in breach of a number of serious regulations.

Take the bad news with a grain of salt, go and see your wife and kid, and then come back the next day ready to defend yourself knowing you haven’t done anything intentionally wrong. As the next few days progress, you realise that the team of people you met behind the big glass doors are mostly against you.

Find the two people who still have a look on their face like they want to help you, and ask them for assistance. Don’t be afraid to tell them the consequences of what might happen to your business if they ignore your request.

Continue hiring people to build out the product even though you know that this small problem could cripple the business. Know that how you act and who you’ve become is what has allowed you to get this far.

Previous failure

Know that the previous failed business and your current status of being bankrupt is something to be proud of. It’s the license you need to start a billion-dollar startup.

Take the less than ideal solution that your friends behind the big glass doors offer you and commit to getting yourself back into the position you were in with them. Know that the trust they have in you is what’s needed to reverse the seemingly irreversible.

Continue to be the main sales person in the business and attract world-class customers from every industry. Use these customers as validation for when you are trying to pitch your vision to the naysayers. Promise these new customers the best user experience imaginable and demonstrate to them just how big their problem is.

Leave each customer meeting by giving everyone a smile and shake all of their hands firmly no matter whether they are the CEO or the toilet cleaner. Be humble as you continue to win customers and never let your ego get in your way.

Bringing back old faces

Late one night, come up with the idea of hiring all the people who you had to fire when your first business failed. Be okay with the fact they may say no to your offer and make the call regardless.

When three of them accept your offer, know that it was your infectious personality that attracted them to work for you again. Start seeing how who you’ve become has created your business. Start seeing that for the business to continue to grow you must grow.

A bold move

As the scoreboard of wins starts to pile up, go out to the investor network again that you built up at the start, and raise more money. Bring on a brand name consulting firm to validate what your business does and be prepared for some long days and nights.

Be okay with working seven days a week even though you have your second baby on the way. Know that if this capital raise fails, you could look really stupid, and you may not have enough money to keep scaling.

As the capital raise continues, and your relationship with your friends behind the big glass doors grows, make the bold decision to send in the employee you hired off them, to negotiate you back into your former position with the original product you had before the breach.

Be open and honest with them and make them see the opportunity that goes well and truly beyond money. Make them feel like they are a part of your business and that they matter. Use your impeccable personality and your infectious good vibes to blow them away.

When they say yes to giving you what you need, remain humble, put your head back down, and get back to work. With each win, celebrate them with your team – not too hard, though. Keep battling through the 101 questions that your consultant friends keep asking you and ponder how ironic the situation is.

The hidden strategy

Think to yourself that the turning point of your startup depends on the very thing that made you bankrupt in the first place (consulting). Have a brain wave and know that you have now found your hidden strategy; you can speak these consultants language because you used to be one.

Sit down at night when you get home, and keep looking at the annoying spreadsheet that needs to be reviewed for the 100th time. Know that even though numbers do your head in, you’re on the journey to success and nothing is going to stop you.

The ultimate high

After months of back and forth, pick up the phone, and get the news that one of the most iconic brands in the country wants to invest in your business, and become your number one customer. Put the phone down and know that you are now a millionaire with a famous board of directors.

Ring up your friends behind the big glass doors and thank them for believing in your business. As you wipe your face from the tears of joy, think about how awesome it’s going to be to welcome into the world your second child.

Think about how the highest of highs seems to come in two’s. Remember how your infectious personality and just being you, made all of this success and the millions of dollars happen in the first place.

Go back to the office on Monday being more humble than ever and shake all the hands of the people that made this dream possible. Turn on your computer and see your friends behind the big glass doors post the news story of your success on social media and tag you in it.

Never forget how freaking awesome the journey has been and how important your first failure was.

 

4. Remain loyal

No matter how many times you are given amazing opportunities, always remember who helped you get where you are and remain loyal.

 

5. Pick up some sales skills

You’ll need them – trust me! Your whole life is going to become nothing more than selling your vision to the world.

What do you think it takes to build the next billion-dollar business? Let me know in the comments section below or on my website timdenning.net or my Facebook.

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared hundreds of thousands of times and he has written multiple viral posts all around success, personal development, motivation, and entrepreneurship. During the day Tim works with the most iconic tech companies in the world, as an adviser, to assist them in expanding into Australia. By night, Tim coaches his students on the principles of personal development and the fundamentals of entrepreneurship. You can connect with Tim through his website www.timdenning.net or through his Facebook.

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8 Comments

8 Comments

  1. Adekola Adegoke

    Jan 11, 2017 at 10:43 am

    This insight really spoke to my current circumstance. I felt like I have just finished a session with my mentor. Thanks Tim, am truly grateful.

  2. Decker

    Jul 27, 2016 at 2:52 am

    Hi Tim,

    Thanks for this article and the journey it took me on. Things have not been gone well for half a year and as usual doubts

  3. Sibusiso Lukhele

    Jul 7, 2016 at 6:33 pm

    Mr Tim Denning thank you very much, this article is exactly what I needed at this point in my life … you wrote that article in a way that I looked at myself in such a way that I can make this happen… again thank you very much Sir you have just given me hope to go to the next level

    • Tim Denning

      Jul 9, 2016 at 3:14 am

      Sibusiso you are most welcome. Go out there and have a go you’ve got nothing to lose!

  4. Toño

    Jul 5, 2016 at 9:39 am

    Thank you for the book suggestion, Tim, I will look it up. As for my state of mind, well, it’s not that bad and I would not call it that depressed, or maybe it is and I just cannot tell the difference. I don’t know 🙂

    Just watched a movie that took the place among my favorites already – ‘Wish I Was Here’. Fantastic, so emotional, I even got my eye’s wet for a few times. Right now I feel like I going to watch it again, and again, and again.
    Idea of this movie for me:
    – I’ve failed miserably ..
    -No, you showed up and won!

    Thank you for feedback, Tim, muchly appreciate it!

    • Tim Denning

      Jul 5, 2016 at 7:36 pm

      No problem Toño. keep your head up mate. Thanks for the movie suggestion I am going to watch it tonight. Have a great day!

  5. Toño

    Jul 5, 2016 at 6:59 am

    Starting the NEXT billion-dollar business presume you should have started one before, right? Anyway, is this the story about your friend who lost everything and started from scratch while having a wife and his little kid, the one you posted few articles about?

    This whole idea of billion-dollar business does not click with me (yet), however, I really do love to read about so-called big ‘failures’ that turns out to be the greatest opportunity to change your life and, most likely, the world. For the last few weeks I’ve been experiencing highs and lows, yet I realising now I haven’t failed because I learnt and educated myself in a unique way. I continue to read The Quarter-Life Breakthrough by Adam ‘Smiley’ Paswolsky and he talks pretty much about the same you have explained here. Fear, persistence and that failure that doesn’t even exist in the form most of us tend to think of. I also like how you mentioned loyalty and staying humble, hugely important and often underestimated abilities.

    We can all learn from this experience, Tim, and your friend did really amazing job that may help and inspire to not give up on whatever idea you’re working and how hard your life may seem. Thank you so much for my morning reading, amigo, have a wonderful day and take care!

    • Tim Denning

      Jul 5, 2016 at 8:28 am

      Toño this is a different friend to the homeless one. I have many friends that have had some wild rides and this friend is one I haven’t spoken about before. He just made a lot of money for himself and this article is his story to hopefully inspire others to do the same.

      All of us have tough times Toño so don;t let it get you down. Reading will help you and I strongly suggest having a go at the book “The Happiness Advantage.” I will take you away from the depressed state your in. Thanks for your book recommendation too I will suss it out. Cheers

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Entrepreneurs

5 Things Entrepreneurs Need to Do to Stay Motivated

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how to stay motivated

Being an entrepreneur is the American dream. It’s all about defining your success, paving your way, and living life the way you want. Many of us walked out of a comfortable job because we no longer wanted to be rats in the maze of an employer who manipulated us into fueling their dream. We wanted to create and follow our dreams. But sometimes there are days when you can’t seem to find the motivation to move forward, and that’s when you need a little boost in thinking.

One thing to remember is that there is no “magic solution” for success as a business owner. Every entrepreneur must find their way to create, manufacture, produce, and sell their products, services, and ideas. The way that you find yourself doing this may not be as unique as the concept you have for your business. That’s okay, as long as it works for you and creates the result you want..

As entrepreneurs, we are in a constant state of “flux.” We must always be evaluating, analyzing, and measuring our metrics and our success. We are often in competition with others, but we are always in competition with ourselves. We should always strive to be a better version of ourselves and our business than we were yesterday.

Every successful entrepreneur will tell you that the “daily grind” is what results in wealth and success. The dream is the glamorous part as it’s what keeps you looking toward your goals and keeps you working hard.

Nonetheless, for those days that the daily grind seems hard and your energy wanes, try these 5 tips to stay motivated:

1. Remember the goal and keep your eye on the ball

I like Mark Cuban’s analogy of entrepreneurship being like the game of basketball. In his book, How to Win in the Sport of Business, he points out that having a business is like winning a basketball game. You must always be watching what your competition is doing while keeping your motivation high. Keep your eye on the goal.

2. Do something every day that moves you forward

One of the frustrations of entrepreneurs is that they feel like they are not moving their business forward fast enough. Remember Rome wasn’t built in a day. So just make sure you’re at least doing one thing daily that moves you closer to your goals. It will give you a feeling of accomplishment when the going gets tough.

“Life is like riding a bicycle. To keep your balance you must keep moving.” – Albert Einstein

3. Write down no more than six things to do each day

People sometimes overwhelm themselves by planning too many things to do in one day, and then they feel let down when they don’t get them done. If you limit your primary goals to six things per day, you are going to be more likely to achieve them.

4. Connect with other entrepreneurs and learn their tricks

This is not to say that you need to copy what others are doing, but simply get a sense for what keeps them going and motivated and share ideas. It can help you feel like you’re on the right track with support from others like you with similar goals.

5. Think of yourself as a captain

You are the captain of your ship. You’ll come across crashing waves, massive storms, rocks, and iceberg, but the way you maneuver around them will determine your fate. Always keep your eyes on the harbor and take pride in the fact that you’re in the top 2% of the country by sailing out on your own as an independent business owner.

“If you’re serious about changing your life, you’ll find a way. If you’re not, you’ll find an excuse.” – Jen Sincero

A few other things to take with you on your journey

As an entrepreneur, the goal is what you’re working for, day-by-day, week-by-week because you’ll get there a little at a time. It’s about more than the goal because it’s about the journey. Life is a journey and so is entrepreneurship. The challenges we face as entrepreneurs only serve to make us stronger and better able to handle the storms we face on the sea of entrepreneurship.

Remember the payoff is incredible! It’s the biggest gamble of your life but when it pays off, it pays off huge! Remember the movie, “The Perfect Storm,” starring Richard Gere? He talked about being a swordboat captain and about how few people choose that life, yet the ones who did loved it. They enjoyed the solitude, embraced the challenge and it’s what kept them going.

How do you stay motivated on a daily basis? Let us know by commenting below!

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Entrepreneurs

You Have To Have A Side Hustle (Like Me With My Blogging) – Here’s Why

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This whole blogging thing you see me do is my side hustle.

It’s what I do when I get home from work.
It’s what I do when you’re at the pub with mates on the weekend.
It’s what I do when you’re watching House Of Cards.

Blogging is my side hustle because it’s what has transformed my life and what fills me with passion.
Blogging is my happy place and it’s how I serve the world.

Now many of you reading this have zero side hustle. You’re not passing go and collecting the $200 that comes with doing a side hustle daily. You’re missing out on everything that can come with building something for yourself.

I’m going to get to the point quickly. Here’s why you need a side hustle:

 

You’ll be stuck in your dead-end job forever.

Yes, what I just said is harsh. I said it because it’s true. You’ll never escape that job you hate and that pain in the ass boss that sucks all of your energy away unless you get a side hustle.

Start with what you like doing and then design a side hustle around it. Ensure that at least one action is taken every day. Then, let that momentum build into a side hustle.

Once you have momentum, the aim of the game is to let the side hustle take over from that dead-end job that makes you feel like crap.

 

You’ll never get to travel.

The world is such an amazing place (cliché I know).
There’s no point the world being beautiful and you hearing that cliché if you never get to enjoy it.

A side hustle is what you’ll eventually monetize so that you can work less and play more (i.e. travel).

Travel is one of the biggest regrets of those who are dying. You’ll never get to check back into planet Earth again so you may as well travel while you can.

Build that startup. Launch that website. Record that video. Or, in my case, write that blog post that inspires.

 

You’ll miss those family moments.

A side hustle is designed to give you time and allow you to do more of what you love. That’s what blogging does for me and the same can happen for you.

“Being consumed by a job you hate, so you can earn just enough to survive, so you can impress your boss and people you don’t care about, is the definition of failure”

I believe you can spend more time with your family. I believe you should feel inspired every day and do something that makes you happy. I believe that family is one of the few things in life that we’re destined to cherish.

Okay, that last line was a bit soppy for a bloke but who gives a rat’s – it’s true.

 

You’ll never get to experience the art of fulfillment.

Blogging gives me a sense of fulfillment. I feel like I have done something that matters to me and that matters to the world. If you don’t go and get a side hustle, you’ll never experience what it’s like to be fulfilled.

Being fulfilled makes you feel like the glass is always half full instead of half empty, or worse yet, looking at the glass as empty with a crack in the bottom that was caused by everyone else.

When you feel fulfilled, you find yourself wanting to do things for others. You find giving easier, you want to be a mentor, you want to perform charitable acts, and all round, life is good.

I want you to feel life is good too. That’s why I want you to get a side hustle amigo!

 

***Parting advice***

Oops….I nearly thought that headline read “parenting advice.” Now that would suck because I have no idea about that…haha

No one said this whole side hustle would be easy. You will need to work hard and you’ll have to take action. You may even need to do some soul searching and that’s fine too. My point is that you need to stop delaying and begin building something. The whole construction process I find is better than when you’ve built your side hustle.

It feels good to be in control and to serve others with your side hustle. I want that feeling for you too.

Go out and start your side hustle.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

These 3 Warning Signs Predict Your About to Make a Big Business Mistake

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“Honesty is the fastest way to prevent a mistake from turning into a failure.” James Altucher said this, the multiple bestselling author, and a man who has failed (and overcome failure) more than most. The truth is, mistakes hurt.

Whether it’s your mistake or somebody else’s, it stirs all sorts of fears and worries within you. You start to question yourself. You wonder what will happen next, and what the worst case scenario may look like. Mistakes are NOT fun, but mistakes also play an important role in your growth and success. For as Albert Einstein once said, “a person who never made a mistake never tried anything new.”

So assuming you don’t wish to play it safe your entire life, you must accept mistakes happen. Some mistakes are unavoidable; there to test and teach us. But what if I told you many of your mistakes were avoidable, and by looking in the right places you could spot them before they happen?

Most mistakes begin small; tiny little things that barely register in your day. But because you pretend they don’t happen, disregard them, or make poor decisions on the back of them, these little mistakes grow into big mistakes, which in turn develop into life-altering failure.

Certain mistakes are thrust upon you, and you cannot do much to avoid them. Yet many begin slowly, and by keeping your eyes open you can spot them before they happen. So if you notice any of the following, take note for a mistake may be near.

1. You Become Complacent

One of the biggest warning signs of all is when you grow complacent. You may enjoy the idea of an ‘easy life’, but the truth is you need a challenge. When it comes to growing a successful business, this is never more true. You need to remain motivated. Like a shark, you can never stop moving.

Such complacency lead to Thomas Frank’s biggest mistake of all. As he built ‘College Info Geek’ while still at university, he was always busy. Between studying, blogging, and marketing, he had little time to spare. So as his site grew, he decided to cut back on his studies and take fewer classes. This made sense, as more time spent on his business meant more chance of success. Yet with this extra unstructured time on his hands, Thomas grew complacent.

Instead of growing, his business plateaued. He didn’t feel as motivated, and it wasn’t until he got this motivation back that ‘College Info Geek’ continued its growth.

“If you look around, complacency is the great disease of your autumn years, and I work hard to prevent that.” – Nick Cave

2. You Get Stuck in your Own Head

Although you may surround yourself with people all day, this entrepreneurial roller coaster is a lonely ride. It’s easy to get stuck in your own head, as you work on your ideas, your plans, and your growth. You become so fixated on your work that you shut yourself off to the rest of the world. You become blind to opportunity, mistakes, and everything else.

Take John Corcoran, the co-founder of Rise 25, and a man who has built his career around connecting with influential people. Despite building a successful career in politics, entertainment, and the tech scene, John desired more. He started his own practice, and got to work on his own version of the American Dream.

He worked so hard that he went months without networking and creating new connections. All those relationships he had built during his successful career slipped by the wayside. He condemned himself to a lonely entrepreneurial existence, and had little to show for it.

Sure, he was busy, but did he grow? No! John got stuck in his own head, and it lead to what he described as his biggest business mistake of all. This entrepreneurial rollercoaster is lonely enough as it is, so don’t make matters worse by getting stuck in your own head.

3. You’re Surrounded By “Yes Men”

“Yes” is a dangerous word. If all you say is yes, you’re sure to drown under work, responsibility, and commitment. Yet it isn’t only when you say yes that issues arise, because when you’re surrounded by a bunch of “yes men”, mistakes are often close. Scott Oldford experienced this as he became a well known “web guy” at a young age.

During a period when most of us plucked up the courage to ask that girl or guy to the dance, Scott made large sums of money and won prestigious awards. He had everything a teenager could want, including a group of people who told him what he wanted to hear.

Scott soon lost everything he built, as he began to believe his own hype. He had to start from scratch. Today, he’s doing fine, but only after he lost track of what matters. That’s what happens when you surround yourself with “yes” — it blinds you from what you need to see and hear.

“Say no to everything, so you can say yes to the one thing.” – Richie Norton

Of course, warning signs like these won’t vanish mistakes from your life. Some are unavoidable. Some provide invaluable lessons you need to experience for yourself. But the sooner you nip these mistakes in the bud, the easier you’ll find your road to success.

I learned this from speaking to those who have been there and done it; successful folk at the top of their game. Don’t wait until you make your own mistakes. Learn from those who have been there and done it. And while you do, keep your eyes open for these three big warning signs.

Share with us a mistake you made and how you overcame it! Let us know by commenting below!

Image courtesy of Twenty20.com

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Entrepreneurs

Case in Point: Creativity Is a Good Drug for Entrepreneurs

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In today’s era, the production and exportation of varied products to international markets are growing bigger, all thanks to the excessive industrialization and globalization that enfold multiple industries. It makes it easy for people to access products whenever and wherever. As for consumers, they now have access to different kinds of products in different types and quality ranges.

To such a great extent, what should an entrepreneur like you, do in a market bombarded with a myriad of products? How will you supply and manufacture a product in markets filled with so many choices to choose from and with consumers who already have their trusted preferences?

A creative mind can answer all of these questions. Creativity aids you on how to ameliorate your existing business practices. A brand might be popular among the consumers and well-established, but there will always be room for improvements and corporate lessons for them. The power of creativity will help you come up with unique ideas and deliver innovation into existing practices.

So, What’s In it For Entrepreneurs?

There’s a lot of people who correlate creativity with self-expression and a product of inadequate restraint which may have the ability to bring chaos. Leadership, on the other hand, is all about control and order. It’s probably the reason why most people perceive entrepreneurship and creativity as a fickle combination.

If you’re one of those entrepreneurs who think that it only takes number-crunching and practicality skills to run a business successfully, you better think again! Take heed that creative thinking is a significant factor in good business acumen. The absence of creativity may lead or put your business in a stagnant mode.

In fact, the study conducted by Adobe and Forrester Consulting reveals that 82% of companies in the U.S believe that there’s a strong connection between business results and creativity. Furthermore, companies who actively advocate for creativity perform better than their competitor regarding competitive leadership, market share and revenue growth.

Still doubtful? The following 5 reasons explain why creativity is a good drug for entrepreneurs:

1. It Cultivates Innovation

When you conjure something and attach your name to it, you want to assure that it doesn’t only justify the expectations of customers, but also outdo them. You need to be careful and guarantee your product or service will be useful.

While it’s difficult to see this from the beginning, things will get clear once the sequential steps unfold and the idea is starting to materialize. It is the phase where you’ll realize the difference between innovation and invention.

A unique idea is an invention itself, but a unique and serviceable idea is an innovation. If you want to innovate, you need to look at the same thing differently and be creative. All of these will help you combine usefulness into a unique idea.

2. It Leads to High Success Rate

We always carry the belief that we’ll survive different life battles through intelligent thinking. But it’s not until we grow old when we realize although intelligence is a crucial quality, we need to possess creativity also as a necessity.

However, one sad fact remains – most businesses and educational institutes still put more weight on intelligence in comparison to creativity. Perhaps, it could be because intelligence is easier to manage and measure, while the latter is hard to spot.

There’s good news though. The trends are changing, and many companies finally discern that they need creative people to grow their empire.

“Happiness lies in the joy of achievement and the thrill of creative effort.” – Franklin D. Roosevelt

3. It Encourages People to Think

We’re now living in a world where creative problem solving is becoming one of the best ways to alleviate organizational issues. Creative problem solving works best when you have a highly-focused and disciplined ways of thinking.

Humans by nature have two modes of thinking, namely: convergent and divergent. We can either do one or both modes.

Convergent thinking is a highly analytical mode and aims to conjure a precise solution for a particular problem. The best examples of convergent mediums are computer systems, mathematical and accounting software and other data sources that yield accurate results.

On the other hand, divergent thinking is a mode that develops creativity through considering different possible solutions for the same problem. To make sure that your company gets the best resolution, you need to incorporate both modes of thinking by giving attention to divergent pathways.

4. It Harnesses An Employee’s Potential

Organizations can only utilize half of their employees’ potential if they don’t encourage them to be creative. It’s just fortunate that employees now realize there’s a well of creative ideas and information that are untapped and dormant at all levels.

Tapping these resources may involve a complex process such as solving performance-related issues, creating new financial strategies, enhancing processes, making them more profitable and efficient, or innovating to stay on top of the competition.

5. It Can Be Developed

Although most people believe that creativity is innate, many see creativity as a renewable resource that you can learn and tap anytime. All of us are born with a thought process and creative potential which can develop and reinforce as we grow.

For instance, learning new skills or inculcating new hobbies is an excellent way to test and hone your inherent creative skills. It’s also an efficient way to teach your mind to think in such a way that leads to creative thinking.

“There are two ways to extend a business. Take inventory of what you’re good at and extend out from your skills. Or determine what your customers need and work backward, even if it requires learning new skills. Kindle is an example of working backward.” – Jeff Bezos

Gone are the days where entrepreneurs need to analyze and make decisions according to hard facts only. The most progressive leaders don’t just settle down on hiring creative people for their team, they also train to make themselves creative and harness more usefulness and novelty in their ideas. Hopefully, the reasons above are enough factors for you to give more emphasis to this aspect of entrepreneurship and upgrade your prospects and business acumen.

What makes you creative? Share with us some stories below as we want to hear them!

Image courtesy of Twenty20.com

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3 Practical Ways Successful People Attract Money

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It takes more than just hard work, grinding and strategies to become successful. Do you actually know what subtle changes to make in order to reach the level of success and financial wealth you desire? (more…)

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8 Comments

8 Comments

  1. Adekola Adegoke

    Jan 11, 2017 at 10:43 am

    This insight really spoke to my current circumstance. I felt like I have just finished a session with my mentor. Thanks Tim, am truly grateful.

  2. Decker

    Jul 27, 2016 at 2:52 am

    Hi Tim,

    Thanks for this article and the journey it took me on. Things have not been gone well for half a year and as usual doubts

  3. Sibusiso Lukhele

    Jul 7, 2016 at 6:33 pm

    Mr Tim Denning thank you very much, this article is exactly what I needed at this point in my life … you wrote that article in a way that I looked at myself in such a way that I can make this happen… again thank you very much Sir you have just given me hope to go to the next level

    • Tim Denning

      Jul 9, 2016 at 3:14 am

      Sibusiso you are most welcome. Go out there and have a go you’ve got nothing to lose!

  4. Toño

    Jul 5, 2016 at 9:39 am

    Thank you for the book suggestion, Tim, I will look it up. As for my state of mind, well, it’s not that bad and I would not call it that depressed, or maybe it is and I just cannot tell the difference. I don’t know 🙂

    Just watched a movie that took the place among my favorites already – ‘Wish I Was Here’. Fantastic, so emotional, I even got my eye’s wet for a few times. Right now I feel like I going to watch it again, and again, and again.
    Idea of this movie for me:
    – I’ve failed miserably ..
    -No, you showed up and won!

    Thank you for feedback, Tim, muchly appreciate it!

    • Tim Denning

      Jul 5, 2016 at 7:36 pm

      No problem Toño. keep your head up mate. Thanks for the movie suggestion I am going to watch it tonight. Have a great day!

  5. Toño

    Jul 5, 2016 at 6:59 am

    Starting the NEXT billion-dollar business presume you should have started one before, right? Anyway, is this the story about your friend who lost everything and started from scratch while having a wife and his little kid, the one you posted few articles about?

    This whole idea of billion-dollar business does not click with me (yet), however, I really do love to read about so-called big ‘failures’ that turns out to be the greatest opportunity to change your life and, most likely, the world. For the last few weeks I’ve been experiencing highs and lows, yet I realising now I haven’t failed because I learnt and educated myself in a unique way. I continue to read The Quarter-Life Breakthrough by Adam ‘Smiley’ Paswolsky and he talks pretty much about the same you have explained here. Fear, persistence and that failure that doesn’t even exist in the form most of us tend to think of. I also like how you mentioned loyalty and staying humble, hugely important and often underestimated abilities.

    We can all learn from this experience, Tim, and your friend did really amazing job that may help and inspire to not give up on whatever idea you’re working and how hard your life may seem. Thank you so much for my morning reading, amigo, have a wonderful day and take care!

    • Tim Denning

      Jul 5, 2016 at 8:28 am

      Toño this is a different friend to the homeless one. I have many friends that have had some wild rides and this friend is one I haven’t spoken about before. He just made a lot of money for himself and this article is his story to hopefully inspire others to do the same.

      All of us have tough times Toño so don;t let it get you down. Reading will help you and I strongly suggest having a go at the book “The Happiness Advantage.” I will take you away from the depressed state your in. Thanks for your book recommendation too I will suss it out. Cheers

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Entrepreneurs

5 Things Entrepreneurs Need to Do to Stay Motivated

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how to stay motivated

Being an entrepreneur is the American dream. It’s all about defining your success, paving your way, and living life the way you want. Many of us walked out of a comfortable job because we no longer wanted to be rats in the maze of an employer who manipulated us into fueling their dream. We wanted to create and follow our dreams. But sometimes there are days when you can’t seem to find the motivation to move forward, and that’s when you need a little boost in thinking.

One thing to remember is that there is no “magic solution” for success as a business owner. Every entrepreneur must find their way to create, manufacture, produce, and sell their products, services, and ideas. The way that you find yourself doing this may not be as unique as the concept you have for your business. That’s okay, as long as it works for you and creates the result you want..

As entrepreneurs, we are in a constant state of “flux.” We must always be evaluating, analyzing, and measuring our metrics and our success. We are often in competition with others, but we are always in competition with ourselves. We should always strive to be a better version of ourselves and our business than we were yesterday.

Every successful entrepreneur will tell you that the “daily grind” is what results in wealth and success. The dream is the glamorous part as it’s what keeps you looking toward your goals and keeps you working hard.

Nonetheless, for those days that the daily grind seems hard and your energy wanes, try these 5 tips to stay motivated:

1. Remember the goal and keep your eye on the ball

I like Mark Cuban’s analogy of entrepreneurship being like the game of basketball. In his book, How to Win in the Sport of Business, he points out that having a business is like winning a basketball game. You must always be watching what your competition is doing while keeping your motivation high. Keep your eye on the goal.

2. Do something every day that moves you forward

One of the frustrations of entrepreneurs is that they feel like they are not moving their business forward fast enough. Remember Rome wasn’t built in a day. So just make sure you’re at least doing one thing daily that moves you closer to your goals. It will give you a feeling of accomplishment when the going gets tough.

“Life is like riding a bicycle. To keep your balance you must keep moving.” – Albert Einstein

3. Write down no more than six things to do each day

People sometimes overwhelm themselves by planning too many things to do in one day, and then they feel let down when they don’t get them done. If you limit your primary goals to six things per day, you are going to be more likely to achieve them.

4. Connect with other entrepreneurs and learn their tricks

This is not to say that you need to copy what others are doing, but simply get a sense for what keeps them going and motivated and share ideas. It can help you feel like you’re on the right track with support from others like you with similar goals.

5. Think of yourself as a captain

You are the captain of your ship. You’ll come across crashing waves, massive storms, rocks, and iceberg, but the way you maneuver around them will determine your fate. Always keep your eyes on the harbor and take pride in the fact that you’re in the top 2% of the country by sailing out on your own as an independent business owner.

“If you’re serious about changing your life, you’ll find a way. If you’re not, you’ll find an excuse.” – Jen Sincero

A few other things to take with you on your journey

As an entrepreneur, the goal is what you’re working for, day-by-day, week-by-week because you’ll get there a little at a time. It’s about more than the goal because it’s about the journey. Life is a journey and so is entrepreneurship. The challenges we face as entrepreneurs only serve to make us stronger and better able to handle the storms we face on the sea of entrepreneurship.

Remember the payoff is incredible! It’s the biggest gamble of your life but when it pays off, it pays off huge! Remember the movie, “The Perfect Storm,” starring Richard Gere? He talked about being a swordboat captain and about how few people choose that life, yet the ones who did loved it. They enjoyed the solitude, embraced the challenge and it’s what kept them going.

How do you stay motivated on a daily basis? Let us know by commenting below!

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Entrepreneurs

You Have To Have A Side Hustle (Like Me With My Blogging) – Here’s Why

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This whole blogging thing you see me do is my side hustle.

It’s what I do when I get home from work.
It’s what I do when you’re at the pub with mates on the weekend.
It’s what I do when you’re watching House Of Cards.

Blogging is my side hustle because it’s what has transformed my life and what fills me with passion.
Blogging is my happy place and it’s how I serve the world.

Now many of you reading this have zero side hustle. You’re not passing go and collecting the $200 that comes with doing a side hustle daily. You’re missing out on everything that can come with building something for yourself.

I’m going to get to the point quickly. Here’s why you need a side hustle:

 

You’ll be stuck in your dead-end job forever.

Yes, what I just said is harsh. I said it because it’s true. You’ll never escape that job you hate and that pain in the ass boss that sucks all of your energy away unless you get a side hustle.

Start with what you like doing and then design a side hustle around it. Ensure that at least one action is taken every day. Then, let that momentum build into a side hustle.

Once you have momentum, the aim of the game is to let the side hustle take over from that dead-end job that makes you feel like crap.

 

You’ll never get to travel.

The world is such an amazing place (cliché I know).
There’s no point the world being beautiful and you hearing that cliché if you never get to enjoy it.

A side hustle is what you’ll eventually monetize so that you can work less and play more (i.e. travel).

Travel is one of the biggest regrets of those who are dying. You’ll never get to check back into planet Earth again so you may as well travel while you can.

Build that startup. Launch that website. Record that video. Or, in my case, write that blog post that inspires.

 

You’ll miss those family moments.

A side hustle is designed to give you time and allow you to do more of what you love. That’s what blogging does for me and the same can happen for you.

“Being consumed by a job you hate, so you can earn just enough to survive, so you can impress your boss and people you don’t care about, is the definition of failure”

I believe you can spend more time with your family. I believe you should feel inspired every day and do something that makes you happy. I believe that family is one of the few things in life that we’re destined to cherish.

Okay, that last line was a bit soppy for a bloke but who gives a rat’s – it’s true.

 

You’ll never get to experience the art of fulfillment.

Blogging gives me a sense of fulfillment. I feel like I have done something that matters to me and that matters to the world. If you don’t go and get a side hustle, you’ll never experience what it’s like to be fulfilled.

Being fulfilled makes you feel like the glass is always half full instead of half empty, or worse yet, looking at the glass as empty with a crack in the bottom that was caused by everyone else.

When you feel fulfilled, you find yourself wanting to do things for others. You find giving easier, you want to be a mentor, you want to perform charitable acts, and all round, life is good.

I want you to feel life is good too. That’s why I want you to get a side hustle amigo!

 

***Parting advice***

Oops….I nearly thought that headline read “parenting advice.” Now that would suck because I have no idea about that…haha

No one said this whole side hustle would be easy. You will need to work hard and you’ll have to take action. You may even need to do some soul searching and that’s fine too. My point is that you need to stop delaying and begin building something. The whole construction process I find is better than when you’ve built your side hustle.

It feels good to be in control and to serve others with your side hustle. I want that feeling for you too.

Go out and start your side hustle.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

These 3 Warning Signs Predict Your About to Make a Big Business Mistake

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“Honesty is the fastest way to prevent a mistake from turning into a failure.” James Altucher said this, the multiple bestselling author, and a man who has failed (and overcome failure) more than most. The truth is, mistakes hurt.

Whether it’s your mistake or somebody else’s, it stirs all sorts of fears and worries within you. You start to question yourself. You wonder what will happen next, and what the worst case scenario may look like. Mistakes are NOT fun, but mistakes also play an important role in your growth and success. For as Albert Einstein once said, “a person who never made a mistake never tried anything new.”

So assuming you don’t wish to play it safe your entire life, you must accept mistakes happen. Some mistakes are unavoidable; there to test and teach us. But what if I told you many of your mistakes were avoidable, and by looking in the right places you could spot them before they happen?

Most mistakes begin small; tiny little things that barely register in your day. But because you pretend they don’t happen, disregard them, or make poor decisions on the back of them, these little mistakes grow into big mistakes, which in turn develop into life-altering failure.

Certain mistakes are thrust upon you, and you cannot do much to avoid them. Yet many begin slowly, and by keeping your eyes open you can spot them before they happen. So if you notice any of the following, take note for a mistake may be near.

1. You Become Complacent

One of the biggest warning signs of all is when you grow complacent. You may enjoy the idea of an ‘easy life’, but the truth is you need a challenge. When it comes to growing a successful business, this is never more true. You need to remain motivated. Like a shark, you can never stop moving.

Such complacency lead to Thomas Frank’s biggest mistake of all. As he built ‘College Info Geek’ while still at university, he was always busy. Between studying, blogging, and marketing, he had little time to spare. So as his site grew, he decided to cut back on his studies and take fewer classes. This made sense, as more time spent on his business meant more chance of success. Yet with this extra unstructured time on his hands, Thomas grew complacent.

Instead of growing, his business plateaued. He didn’t feel as motivated, and it wasn’t until he got this motivation back that ‘College Info Geek’ continued its growth.

“If you look around, complacency is the great disease of your autumn years, and I work hard to prevent that.” – Nick Cave

2. You Get Stuck in your Own Head

Although you may surround yourself with people all day, this entrepreneurial roller coaster is a lonely ride. It’s easy to get stuck in your own head, as you work on your ideas, your plans, and your growth. You become so fixated on your work that you shut yourself off to the rest of the world. You become blind to opportunity, mistakes, and everything else.

Take John Corcoran, the co-founder of Rise 25, and a man who has built his career around connecting with influential people. Despite building a successful career in politics, entertainment, and the tech scene, John desired more. He started his own practice, and got to work on his own version of the American Dream.

He worked so hard that he went months without networking and creating new connections. All those relationships he had built during his successful career slipped by the wayside. He condemned himself to a lonely entrepreneurial existence, and had little to show for it.

Sure, he was busy, but did he grow? No! John got stuck in his own head, and it lead to what he described as his biggest business mistake of all. This entrepreneurial rollercoaster is lonely enough as it is, so don’t make matters worse by getting stuck in your own head.

3. You’re Surrounded By “Yes Men”

“Yes” is a dangerous word. If all you say is yes, you’re sure to drown under work, responsibility, and commitment. Yet it isn’t only when you say yes that issues arise, because when you’re surrounded by a bunch of “yes men”, mistakes are often close. Scott Oldford experienced this as he became a well known “web guy” at a young age.

During a period when most of us plucked up the courage to ask that girl or guy to the dance, Scott made large sums of money and won prestigious awards. He had everything a teenager could want, including a group of people who told him what he wanted to hear.

Scott soon lost everything he built, as he began to believe his own hype. He had to start from scratch. Today, he’s doing fine, but only after he lost track of what matters. That’s what happens when you surround yourself with “yes” — it blinds you from what you need to see and hear.

“Say no to everything, so you can say yes to the one thing.” – Richie Norton

Of course, warning signs like these won’t vanish mistakes from your life. Some are unavoidable. Some provide invaluable lessons you need to experience for yourself. But the sooner you nip these mistakes in the bud, the easier you’ll find your road to success.

I learned this from speaking to those who have been there and done it; successful folk at the top of their game. Don’t wait until you make your own mistakes. Learn from those who have been there and done it. And while you do, keep your eyes open for these three big warning signs.

Share with us a mistake you made and how you overcame it! Let us know by commenting below!

Image courtesy of Twenty20.com

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Entrepreneurs

Case in Point: Creativity Is a Good Drug for Entrepreneurs

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In today’s era, the production and exportation of varied products to international markets are growing bigger, all thanks to the excessive industrialization and globalization that enfold multiple industries. It makes it easy for people to access products whenever and wherever. As for consumers, they now have access to different kinds of products in different types and quality ranges.

To such a great extent, what should an entrepreneur like you, do in a market bombarded with a myriad of products? How will you supply and manufacture a product in markets filled with so many choices to choose from and with consumers who already have their trusted preferences?

A creative mind can answer all of these questions. Creativity aids you on how to ameliorate your existing business practices. A brand might be popular among the consumers and well-established, but there will always be room for improvements and corporate lessons for them. The power of creativity will help you come up with unique ideas and deliver innovation into existing practices.

So, What’s In it For Entrepreneurs?

There’s a lot of people who correlate creativity with self-expression and a product of inadequate restraint which may have the ability to bring chaos. Leadership, on the other hand, is all about control and order. It’s probably the reason why most people perceive entrepreneurship and creativity as a fickle combination.

If you’re one of those entrepreneurs who think that it only takes number-crunching and practicality skills to run a business successfully, you better think again! Take heed that creative thinking is a significant factor in good business acumen. The absence of creativity may lead or put your business in a stagnant mode.

In fact, the study conducted by Adobe and Forrester Consulting reveals that 82% of companies in the U.S believe that there’s a strong connection between business results and creativity. Furthermore, companies who actively advocate for creativity perform better than their competitor regarding competitive leadership, market share and revenue growth.

Still doubtful? The following 5 reasons explain why creativity is a good drug for entrepreneurs:

1. It Cultivates Innovation

When you conjure something and attach your name to it, you want to assure that it doesn’t only justify the expectations of customers, but also outdo them. You need to be careful and guarantee your product or service will be useful.

While it’s difficult to see this from the beginning, things will get clear once the sequential steps unfold and the idea is starting to materialize. It is the phase where you’ll realize the difference between innovation and invention.

A unique idea is an invention itself, but a unique and serviceable idea is an innovation. If you want to innovate, you need to look at the same thing differently and be creative. All of these will help you combine usefulness into a unique idea.

2. It Leads to High Success Rate

We always carry the belief that we’ll survive different life battles through intelligent thinking. But it’s not until we grow old when we realize although intelligence is a crucial quality, we need to possess creativity also as a necessity.

However, one sad fact remains – most businesses and educational institutes still put more weight on intelligence in comparison to creativity. Perhaps, it could be because intelligence is easier to manage and measure, while the latter is hard to spot.

There’s good news though. The trends are changing, and many companies finally discern that they need creative people to grow their empire.

“Happiness lies in the joy of achievement and the thrill of creative effort.” – Franklin D. Roosevelt

3. It Encourages People to Think

We’re now living in a world where creative problem solving is becoming one of the best ways to alleviate organizational issues. Creative problem solving works best when you have a highly-focused and disciplined ways of thinking.

Humans by nature have two modes of thinking, namely: convergent and divergent. We can either do one or both modes.

Convergent thinking is a highly analytical mode and aims to conjure a precise solution for a particular problem. The best examples of convergent mediums are computer systems, mathematical and accounting software and other data sources that yield accurate results.

On the other hand, divergent thinking is a mode that develops creativity through considering different possible solutions for the same problem. To make sure that your company gets the best resolution, you need to incorporate both modes of thinking by giving attention to divergent pathways.

4. It Harnesses An Employee’s Potential

Organizations can only utilize half of their employees’ potential if they don’t encourage them to be creative. It’s just fortunate that employees now realize there’s a well of creative ideas and information that are untapped and dormant at all levels.

Tapping these resources may involve a complex process such as solving performance-related issues, creating new financial strategies, enhancing processes, making them more profitable and efficient, or innovating to stay on top of the competition.

5. It Can Be Developed

Although most people believe that creativity is innate, many see creativity as a renewable resource that you can learn and tap anytime. All of us are born with a thought process and creative potential which can develop and reinforce as we grow.

For instance, learning new skills or inculcating new hobbies is an excellent way to test and hone your inherent creative skills. It’s also an efficient way to teach your mind to think in such a way that leads to creative thinking.

“There are two ways to extend a business. Take inventory of what you’re good at and extend out from your skills. Or determine what your customers need and work backward, even if it requires learning new skills. Kindle is an example of working backward.” – Jeff Bezos

Gone are the days where entrepreneurs need to analyze and make decisions according to hard facts only. The most progressive leaders don’t just settle down on hiring creative people for their team, they also train to make themselves creative and harness more usefulness and novelty in their ideas. Hopefully, the reasons above are enough factors for you to give more emphasis to this aspect of entrepreneurship and upgrade your prospects and business acumen.

What makes you creative? Share with us some stories below as we want to hear them!

Image courtesy of Twenty20.com

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