Entrepreneurs Must Do These 10 Things To Be Successful According to Jack Ma
When young professionals move to China to chase their dreams and look for mentors to model their business after, Jack Ma is at the top of everyone’s list.
As the founder of the world’s leading wholesale B2B wholesaler, Alibaba Group, many aspiring entrepreneurs look to Jack Ma as a source of inspiration. Jack Ma is the 18th wealthiest man in the world with an estimated $19.7 billion to his name and is known for offering young professionals career advice whenever he is able.
According to Jack Ma, here are the 10 things that every successful entrepreneur needs.
- Get used to getting rejected. If you’re the type of person who gets disheartened every time a door slams in your face, you will never make it in the world of business. Rejection is an inevitable stepping stone that every successful entrepreneur must go through before achieving their dreams. Every time you are rejected by a potential investor, think of it as an opportunity to revise your business plan and make it even better.
- Keep your dreams alive. Prior to launching your business, you should be able to define your ideal dream life, as well as smaller goals which will ultimately help you live it. The moment you wake up and are no longer inspired to start your day based on the path you have mapped out leading up to your dream life, you need to figure out an entirely new set of goals. If you can’t find a way to stay motivated and continue working towards your dreams, your lack of passion will be evident to those around you.
- Your goals should focus on culture. Setting goals for yourself is the number one prerequisite for success. Setting goals for yourself that take into consideration today’s cultural influences is a sure way to make sure that other people not only understand your business goal, but that it resonates within the cultural community.
- Ignore the naysayers. Because there will be many. People will doubt that you can achieve your goals because they lack your vision. If someone cannot add positivity into your life or business, the best thing you can do is to ignore them outright. Otherwise, they may slow you down and make you second guess yourself.
- Get inspired in any way you can. The funny thing about inspiration is that it can strike at any time and from any medium. If you need to do some creative problem solving, for example, the solution might not come to you while you’re thinking about it, but you will be inspired by something else entirely. It’s important that young professionals passively seek out inspiration all of the time, regardless of what they’re doing.
- Stay focused on your primary objective. This is where a lot of people fall into the dreaded “I’m being more productive because I’m multitasking” trap. Instead of doing everything all at once and accomplishing nothing, focus all of your undivided attention on your main goal, and each subsequent mini-goal required to reach your main goal, until you succeed at each of them, one by one.
- Have an interesting name for your business. In this day and age, a little novelty will go a long way. Of course, your business needs quality products or services in order to succeed, but in order to stand out from the crowd of near-identical competitors, every good business needs a great name.
- Your customers are always the number one priority. Never neglect your employees or investors, but never forget that you’re working for your customers. Any internal decisions you make relating to the structure of your business, your products or services should always be made in order to benefit the customer. Being able to define what benefits your customers will get when they come to your business is especially important when first launching a business.
- Never complain about your problems – look for opportunities. For every complaint, there is unspoken constructive criticism upon which you can improve. Any time you notice a negative attribute within your business, brainstorm a way to make it positive. Similarly, someone who is a constant complainer and magnet for negativity is bad for your business.
- Be passion driven. Don’t start a business with “making a boat load of money” being the end goal. Find you best skills, find your values, find your passion and put them all together to create a purpose driven business. When your passion is your business, you will be able to accomplish everything you set out to achieve. When your job is your passion, rather than the end result from your job – money, you will impassion those around you.
Successful entrepreneurs like Jack Ma often find that it doesn’t require a ton of money or knowing all the right people in order to launch a successful business. Building a multi-million corporate empire all starts with a great idea and a lot of passion. Follow these 10 rules of entrepreneurial success and you will be well on your way to the top in no time.
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