We all need reminders about what it takes to get where we want to go. Research published in a London Times book called How I Made It by Rachel Bridge provides some wonderful reinforcement for anyone who works independently (and let’s face it, we’re all free agents nowadays).
40 Highly accomplished (but not famous superstar) business owners were interviewed. The reason I like this book so much is there are too many of them to dismiss as ‘lucky’. When one person makes it big, sometimes we excuse it away or find ways to see them as very different to you and me. The people in this book are not smarter, taller, better looking or funnier than you and me. Nor are they younger. Most of them are in their 40’s and 50’s. There were no quick fix overnight success stories (which we only hear about because they’re so rare).
What do they mostly have in common? More importantly for you: Do you have what it takes?
1. Inspiration: They created something they needed in their own lives, turned a hobby into a business or adopted an idea they saw working well in another country. Others were on the lookout for a gap in the market or to spot a potential opportunity. A few listened more carefully to questions from clients about a need they had: “Do you ever do x?”
The founder of a travel guide publisher: “I just like to produce things and make ideas happen. I can see an idea and run with it and not be afraid to try it and put money into it. If you believe you can do something better or different, then you shouldn’t be intimidated. You just have to single-mindedly plough your own furrow.”
The owner of a company that supplies high quality pre-made meat and fish dishes to grocery stores: “It’s very simple – I’m trying to have a good time. We spend many hours at work, and I find it hugely depressing that a lot of people go to work and hate it. I feel hugely privileged that I come to work and enjoy it.”
2. They are controlled risk takers (not reckless) – just as Russ Alan Prince found in his research of middle class millionaires.
The founder of a book publisher: “All you need is belief in your ability. When you start something up, there are times when things go fabulously right and times when they go wrong. You just have to keep your nerve.”
3. Many lacked formal education but they are highly intelligent and have very good people skills. Being able to communicate a good idea is crucial.
The founder of a potato chip company: “You have to be straight with people and your word has got to be your bond.”
4. Highly motivated: to prove others wrong (including sibling rivalry), to do their own thing, to see something they believe in come to fruition. “Most are driven by an innate self-belief and self-confidence; (some) are driven by a fear of failure.”
A woman who started a chain of daycares in Scotland said: “I wanted to prove to myself and my family that I could do it. At the beginning it was difficult to get people to take me seriously, but nowadays it is great. Now if anyone tells me they want to do something, I tell them to go for it.”
The owner of company that makes fish aquariums: “It took a lot of self-belief because a lot of people didn’t understand what we were trying to achieve. It was dogged determination, long hours and hard work.”
5. Motivated to make a difference: most of those interviewed did not cite making money as their primary objective.
A concert promoter: “I am motivated by seeing an audience enjoying themselves. It gives me a great buzz. People say to me, you must have had a plan, but I was just enjoying myself and the business just grew.”
6. Attitude: strong belief in what they are doing and “endless amounts of optimism.” Positive thinking helps deal with the long hours and setbacks and helps them focus on solutions.
The owner of a chain of florists: “I’m always optimistic. I never stop to think whether something is achievable or not, I just always think, oh I can do that, it will turn out fine.”
7. Action-oriented: several spoke about the evils of procrastination.
The founder of a pottery company: “The worst thing you can do is hesitate. Get on with things even if you haven’t fully worked out how to do them, because even the worst case scenario may turn out better than you expect.”
8. Competency: the founder of a chain of comedy clubs: “The secret is to know what you are there for – and then to do what you do extremely well.”
9. Luck? Two views appeared throughout the book.
The owner of a computer repair company: “I think you make your own luck. I am an absolute believer that the harder I work, the luckier I get.”
The founder of an event planning company: “Failure is not an option. Success is a result of hard work and a bit of luck.”
10. Elbow grease: TAKE NOTE! Almost without exception, this was said one way or another by all those interviewed.
The owner of a health club chain said: “The secret of being successful in business is that there is no secret. Anybody with any spark of intelligence in this country can become a millionaire. You just have to work very hard.”
The founder of a recruiting and training agency for nursing home assistants: “Successful people are the ones who don’t switch off from their business. They are the ones who are continually thinking of new ways to move their company forward.”
11. Bouncing back from failure: The founder of a sushi chain: “It’s not really until you’re actually willing to walk into an office or pick up the phone and make the call where you might get rejected that you actually start to expand your business. The only thing successful entrepreneurs have in common is they are all willing to fail.”
12. Persistence and a refusal to give up: The owner of a cash machine service has a sign above his desk that says: ‘Failure cannot live with persistence.’
He comments: “You must not be afraid of failure. If you keep going and never give up, then eventually you will turn it around. You just have to keep your nerve.”
Who else would enjoy reading this? Please share it with others who might appreciate a shot in the arm.
