Group 1 (Topic)

The 8 Traits Shared by the Most Successful Entrepreneurs

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What separates the successful entrepreneur from the one who fails?
There may not be just one answer. However, the common theme among successful entrepreneurs is
they have the right mentality to embark on the entrepreneurial journey.
What specific mentalities do successful entrepreneurs possess? Here are eight of them.

1. No respect for the status quo.

"Here's to the crazy ones. The misfits; The rebels; The troublemakers. The round pegs in the square
holes. The ones who see things differently, they’re not fond of rules. And they have no respect for the
status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you
can't do is ignoring them, because they change things. They push the human race forward. And while
some may see them as the crazy ones, we see genius. Because the people, who are crazy enough to
think they can change the world, are the ones who do." - Apple, Inc.

When Steve Jobs returned to Apple in 1997 the famous, "Think Different,' campaign was launched.
This was no coincidence. Jobs were known for not following the status quo, which is why most
entrepreneurs turn to his career for inspiration. Most successful entrepreneurs strive for the freedom
to do what they want and not be told that, "this is how things are done."

2. Abundant thinker.
"Over the years, I have noticed that there are two kinds of thinking. One kind leads to success, joy,
and fulfilment. The other leads to failure, fear, and discontent." - Michael Hyatt

Best-selling author Michael Hyatt believes that for people to be successful they need to be abundant
thinkers. Characteristics of abundant thinkers include:

a. There is more where that came from.

b. Want to share ideas, knowledge, contacts, etc.
c. Can easily build relationships through trust.
d. Embrace competition.
e. Deliver more than expected.
f. Are optimistic.
g. Think big and take risks.
h. Are confident and appreciative.

So, would you rather be generous, confident and able to make meaningful connections or stingy,
pessimistic and fearful?

3. Learn as you go.

"He who would learn to fly one day must first learn to stand, and walk, and run, and climb, and dance;
one cannot fly into flying." - Friedrich Nietzsche

As any entrepreneur will inform you, there's a lot of trial and error involved with starting and
maintaining your own business. No matter how knowledgeable you are regarding your industry, how
many college degrees you have, or how much money you've made or lost along the way,
entrepreneurs face their fair share of success and failures. That's a part of the journey. Being able to
learn, however, increases your chances of success since it will help you adapt to changes, as well as
discovering what works for you and your business.

4. Live a frugal life.

I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a
tight box is to invent your way out. - Jeff Bezos
Amazon founder Jeff Bezos may believe that being frugal can help with innovation, but living a frugal
life is championed by many other entrepreneurs and business leaders.

For example, Warren Buffett, despite having the money to purchase anything he wants, lives a
modest lifestyle. Instead of toys and mansions, Buffett's riches come from loving what he does and
doing it well. Facebook founder Mark Zuckerberg famously drove an entry-level Acura even though
he was worth more than $7 billion.

Being frugal doesn't mean that you have to be cheap. It means not being careless with your money.
Instead of taking loans out to purchase a luxury vehicle, save that money so that you can expand
your business.

5. Problem solver.
"The happiest and most successful people I know don't just love what they do; they're obsessed with
solving an important problem, something that matters to them." - Drew Houston

Don't just start a business for the sake of starting a business. Successful entrepreneurs start a
business because they see a real-world problem and have the drive and desire to solve that problem.
Remember, as Martin Zwilling puts it perfectly in Entrepreneur, "Entrepreneurs see problems as
milestones to success, not barriers."

6. Hustler.
"Good things happen to those who hustle." - Chuck Noll

Entrepreneurs are go-getters. They never stop. In fact, that's how Gary Vaynerchuk launched Wine
Library. According to Gary, "I was walking into any business that might be relevant to my community
and passing out flyers and coupons one-by-one to gain more exposure. Nobody gave a crap or knew
who we were, but I knocked on doors and made sure we got the exposure we needed."

If you want to succeed, you have to hustle. You have to put in long hours, build a quality product, and
do whatever it takes to get your name out there.

7. Listen to others but decide for yourself.

"Most of the successful people I've known are the ones who do more listening than talking." -  Bernard
Baruch

While entrepreneurs are free-spirits and make their own decisions, it's also important that you listen to
what others have to say. If you aren't listening to your customers, how do you know if they're satisfied
with you products or services? Maybe this entire time they haven't enjoyed what you're providing,
which is why sales have been sluggish.

Whether it's from customers, team members, colleagues or mentors, always take the time to listen to
advice. However, it's you who ultimately has to make the final decision.

8. Think like an athlete.

"I've missed more than 9,000 shots in my career. I've lost almost 300 games. Twenty six times, I've
been trusted to take the game winning shot and missed. I've failed over and over and over again in
my life. And that is why I succeed." - Michael Jordan

Athletes are some of the most passionate and driven individuals on the planet. How often do you hear
about the insane training regiments that athletes subject themselves to in order to play the game?
How about the Olympic star that was told that they'll never compete again, only to win a medal the
next time around?

Athletes regularly defy the impossible. And so do entrepreneurs. Evan Spiegel, for example, was told
that Snap chat was a "terrible idea" by a venture capitalist. Did Spiegel listen? Of course not, He
marched forward and made Snap chat a hit.

As an entrepreneur, you're going to face failure and opposition, but you're passion and
obsession with your idea will be the drive you need to find success.
Group 2 (Topic)

7 Self-Limiting Behaviour’s Successful Entrepreneurs Never Do

Entrepreneurial success seems ephemeral (passing) and is certainly not guaranteed. So, why
do some entrepreneurs achieve success and others do not? How do you become as successful
as Mark Zuckerberg? 

The most successful entrepreneurs are more than just great business people. They are also
masterful at honest self-inquiry, and change their self-limiting behaviours from unconscious
hindrances to conscious advancements, personally and professionally. Their success is, across the
board, built on both business acumen (insight) and personal growth.

Self-limiting behaviours are quite common, but without the understanding that these beliefs
and behaviours are mutable and changeable, many would-be successful entrepreneurs flounder.

Those who are joyful about their choice of career and attain true success purposefully avoid
negative behaviours that their less successful peers habitually get stuck in. Here are a few of those
negative behaviours that Entrepreneur; avoid them and watch the success soar.

1. Doubt their intuition.

Gut feelings are so often disregarded in the course of decision-making, to great cost. The most
successful entrepreneurs utilize their perception to great advantage, balancing logic with intuition to
make substantial decisions that propel them far. They believe in their own awareness, and lead from
a place of deep self-knowing and clarity. Developing intuition does take time and practice if you’re
used to second-guessing yourself, but it can be done and will serve you well in your success.

2. Expect easy success through hand-outs.

There is no such thing as a free lunch, they say, and “they” are right. Entrepreneurial success is
found almost exclusively through very hard work and a desire to provide value. The best
entrepreneurs wouldn’t dream of asking for hand-outs, or expect that they will be rewarded for
nothing. Of course, looking for ways to get ahead should be expected, especially in the lean stages of
beginning a business. But reaching out to someone for free help, advice, or resources without
considering what can be offered in return seems disrespectful and lazy. Successful professionals
know that their success is directly proportional to how much work they put in, and give the respect
that’s due to others who have done the same.

3. Believe they cannot change.

Those who self-limit share the common trait of meeting frustrations by placing blame on other
people or saying the situation is outside of their control. Changing their own behaviour is not in the
cards; the beliefs that most encapsulate this mind-set are, “It’s just who I am,” or “It’s not my fault.”
However in most cases, reactions and behaviours are habits that can be changed quite easily with
consistent self-inquiry. Successful entrepreneurs take full responsibility for creating and changing
their habitual reactions to outside influences, and know that the only thing that they can change is
their own perspective.
 4. Think there’s not enough time.

Everyone has the same amount of time per day -- you have the same 24 hours as Oprah.
Continually believing that there isn’t enough time in the day to get things done may actually be
delineating an inability to delegate, a lack of scheduling, or distractions with unnecessary tasks.
Successful entrepreneurs are sticklers for their time, and know how to get things done by paying
close attention to how they prioritize, constantly looking for ways to improve their time management.

5. Strive only for perfection.

Speaking of wasting time, successful entrepreneurs do not waste theirs trying to create perfect
things. Perfect does not exist. Striving for perfection ties up vital time and energy that robs happiness
and satisfaction from a job well done, and oftentimes creates blockades to finishing a project -- or
even starting. Those who achieve success strive for excellence, not perfection. They know that
constantly second-guessing their achievements and thinking, “I could have done that better,” only
diminishes what they have already done and sets unrealistic expectations.

6. Stay powerless and quiet.

“They say I’m polarizing,” quips Naomi Klein, an outspoken activist and fearless writer. Klein is a
great example of a successful thought leader completely in her power who speaks out proudly to
support her beliefs. Successful entrepreneurs are strong advocates for themselves and others, and
know that what they add to the conversation has value and merit. They do not take on a victim
mentality, nor shrink themselves for any reason. They speak up when necessary, and meet the
challenges of creating a business head-on, with self-possession, grace, and consideration.

7. People please.

Most humans have a deep-seated need to be liked, and put the desires of others ahead of their
own, throwing their own dreams and plans off track. However, the most successful entrepreneurs
know how to maintain clear boundaries for themselves while staying considerate of other’s feelings.
They are masters of their own lives, and take the reins of their personal priorities. They don’t focus
too much on making everyone else happy, and keep their ultimate goals in mind to avoid thwarting
progress.

Advancing professionally is directly in alignment with how we advance personally. Though

identifying the self-limiting beliefs that cause self-limiting behaviours can be difficult, it is not
impossible. It can be a slow process, but your continued entrepreneurial success will show you that
it’s worth it.
Group 3 (Topic)

10 Myths and Realities of Entrepreneurship

At least once in our lives, we have all thought or dreamt about starting our own business. However,
there are several misconceptions surrounding entrepreneurship; sure, more than 10 myths and
realities. And successful entrepreneurs can separate myths from reality to start their entrepreneurship
journey.

Statistically, there are more than 582 million entrepreneurs worldwide by 2022; therefore, 62% of

adults believe that entrepreneurship is a good career and 40% of them think establishing a business
is a piece of cake, which is an indicator that they rely on myths and not facts, because being an
entrepreneur and starting a business is far from an easy job. It requires dedication and the willingness
to learn from mistakes. However, there are several other misconceptions about the entrepreneurial
world.

Let’s discuss the most frequent 10 myths and realities of entrepreneurship.

Myth 1: Entrepreneurs do not have a personal life

Business owners must make sacrifices to follow their dream and secure their business, and their
business always comes first. Right?

We all have been told this over and over, and sometimes this has been interpreted that entrepreneurs
should abandon their personal lives.

Reality 1:  Entrepreneurs have a personal life

The most successful entrepreneurs know how to balance their personal and professional lives, how to
take a break and prioritize their responsibilities.

Work-life balance is as important for entrepreneurs as it is for other professionals, reducing the risk of
burning out and increasing their productivity as a matter of fact people who have a normal work-life
balance are generally more beneficial, and also this balance is good for their health.

Myth 2: Real entrepreneurs don’t quit 

It is probably of the most famous myths that have permeated our culture, if you are a real
entrepreneur, you can never quit, and you have to keep going.
Reality 2: Real entrepreneurs can quit

The business world is full of examples of people who have quit, even fired, and still benefited from it.
In one of the most popular speeches by Steve Jobs, the Stanford Speech of 2005, he talked about
how he felt when he got fired from his own company. 

“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have
ever happened to me. The heaviness of being successful was replaced by the lightness of being a
beginner again, less sure about everything. It freed me to enter one of the most creative periods of
my life”.

Myth 3: Entrepreneurs do not have a boss

Once you start your business, you are the boss with absolute independence, and no one to control
you creating your own island.

Reality 3: Entrepreneurs do have a boss

Entrepreneurs, just like the rest of the world, need to establish connections if they want their
businesses to thrive. As John Donne once said, “no man is an island”. And because a happy client is
a successful business your boss here, clients is much more difficult to please.

Myth 4: Entrepreneurs are rich

To be an entrepreneur you must be rich because if you start big you will remain big and grow faster
and also because being rich means the best tools and facilities.

Reality 4: Entrepreneurs do not have to be rich

Entrepreneurship is not black and white only. Actually, some entrepreneurs started from nothing or
almost nothing and have achieved their wealth, while others have not reached this privileged status.

Myth 5: The key to your success is to believe you will succeed

Once you believe, you will succeed and your business will thrive. We have been told, over and over,
that believing in yourself and your business will grant you success.

Reality 5: Believing only is not enough

Business requires hard work, the capacity to understand your target and learn from your mistakes,
and the willingness to innovate daily; those are just the basics to success. Believing in something will
not automatically grant you success.

Statistically, 20% of small businesses fail in their first year, not because they don’t believe in it
enough, but for some more common mistakes. Business requires more than perseverance.

Myth 6: Entrepreneurs have to be Risk-takers

The myth says that business people are addicted to taking risks; a myth almost ingrained in the
market and almost believed to be a fact. Risk-taking is more of an attitude when it comes to
entrepreneurship.

Reality 6: Entrepreneurs have to be Challenge-takers

As an entrepreneur, all you need to be is a relentless challenger, which encompasses taking risks as
well as avoiding them. The most successful people on the planet are very good at calculating risks.

Myth 7: Entrepreneurs are Mainly Motivated by Money

Money can play a factor in why people start their business, and entrepreneurs are in it for becoming
rich only, and this is the ultimate goal of having a business.
Reality 7: Entrepreneurs are motivated by Passion

Money can play a factor in why people start their business, but usually, entrepreneurs are not in it for
becoming rich. Passion is the biggest motivation because, for any new business, the first few years
are all about reaching a breakeven; profits become a part once execution is patiently handled.

Myth 8: Anyone can become an entrepreneur

Surely, anyone can be an entrepreneur as it is so easy to start a business, and it is all about the idea.

Reality 8: Not anyone can become an entrepreneur

This is an oversimplification. Not everyone will want to be an entrepreneur. And not everyone should
be an entrepreneur. And it is not only about the idea.

Entrepreneurial success depends on spotting opportunities that can be converted into interesting
business propositions and how to communicate them correctly.

Myth 9: Entrepreneurs are born

Intelligence, high scores, and family blood are what it takes to be an entrepreneur. This myth is
repeated and interpreted as those entrepreneurs developing their big business plans in the womb!.

Reality 9: Entrepreneurs are made

You can learn how to start your business or become a leader. Intelligence, high scores, family blood,
none of these actually guarantees your ticket to the top, and really nothing beats hard work,
dedication, willpower, Courage, and persistence.

Myth 10: You have to be young to be an entrepreneur

You have to be young and restless to start a business; middle age is not accepted; they lack energy
and enthusiasm. Actually, this is not always right. 

Reality 10: You do not have to be young to be an entrepreneur

You can be an entrepreneur regardless of your age; being young has an advantage, and being old
definitely has more advantages.

Here are three examples of entrepreneurs; who launched highly successful businesses later in life:

1. Ray Kroc started McDonald’s aged 52.

2. John Pemberton invented Coca-Cola aged 55.
3. Colonel Harland David Sanders launched KFC at 65.