A One Time Success In Business?

Summary

• It's incredible to think you might never have a successful business again.
• I once had dinner with an entrepreneur who sold his e-commerce business, which got most of its sales from Amazon.
• This was back when simply listing a product on Amazon could lead to growth.
• He believed his success was due to luck and the timing of events working together perfectly.
• For him, that was true, but for us, it was true in a different way.
• We studied what made us successful and learned from it.
• Since then, every business we've had has been more successful than our first.

Video

How To Take Action

I would suggest implementing a few key strategies to boost your personal growth or small business success without needing much money or time. First, reflect on your successes. Take a moment to think about what made your previous ventures successful. Break down the steps you took, the strategies that worked, and even the lucky breaks you got. Write these insights down and keep them accessible.

Next, study and learn from others. Read books, listen to podcasts, or watch videos from entrepreneurs who have succeeded. They’ve likely faced challenges similar to yours, and you can learn from their experiences without spending a lot of money.

A good way of doing this is networking with peers and mentors. Reach out to other entrepreneurs in your field and share experiences. Attend free or low-cost local meetups, webinars, or workshops. Learning from others’ mistakes and successes can save you time and effort in the long run.

Lastly, experiment and iterate. Don’t be afraid to try new things with your business. Start small to minimize risk and see what works. If it fails, it’s a learning opportunity. If it succeeds, you’ve gained a new strategy.

By reflecting, learning, networking, and experimenting, you can grow your business or improve personally without needing to spend much money or time. These high-value strategies are easy to implement and can lead to significant improvements.

Full Transcript

isn't it crazy that you could never have a business successful ever again I had dinner years ago with an entrepreneur who had exited a company that was an e-commerce company and he had made the majority of their sales on Amazon this is the early days of Amazon when like you could pretty much just like list a product and it would just grow and I remember him saying this it was because he attributed everything that he had in his life to the luck of things working out in Tandem and the reality was that for him that was true true and for us it was also true but we had crystallized the knowledge because we had wanted to study what made us successful and so since that point he has not had a business that was more successful than that first one that he had we have had everyone since be more successful than the first one that we had