Tips for success - Entrepreneur Video Transcripts
Video 1 Transcript
Success. So that's an interesting word because it means different things to different people. I've interviewed a lot of successful people. Now, not all of them are wealthy, not all of them own their own businesses, not all of them won the gold in the Olympics that they were shooting for. Over time, I've come to think that success actually means happiness, contentment in what you're doing, what your life consists of. And everyone can achieve that. You can be successful. If you have a home life that you love, whether you're single or have a family, and if you have a career that you love, that's actually the definition of success and balance in my opinion. But also to be successful, what does that mean for you? If there's an income level that you're not going to feel successful, tell that amount, write that down. Create a vision board of what it is you're shooting for. That way you'll know when you achieve it.
Video 2 Transcript
I feel like no one talks about this, but in entrepreneurship, if you want something that's going to get quick growth and that can kind of move quickly, you have to leverage something that already exists. Once again, leverage something that already exists. Think about Facebook. Everyone already had relationships. Snapchat. Everyone already had a phone and a camera. Any business that I've had that's moved quickly, we've been able to take something that exists, repurpose it, change it, tweak it, and leveraged it to create it into our own thing. If you're looking for growth, it's all about leveraging something that already exists. That's a really cool, I talked about the problem journal before. Having a problem journal is a really good thing, but I would also maybe have a note that says, what is something that already exists and how do I leverage that?
Video 3 Transcript
Hey, my name is Cameron, and some tips for success is the first thing I would say is really define what that looks like for you exactly, because everyone has their own definition of what success is for them, but you have to define it for yourself. Even like your mom or even a close friend may say, hey, this is exactly what success is, whether it be going down in an employee direction or something, just a normal typical nine-to-five job. But if you have a purpose, if you have a vision of what your life truly looks like, I would love for you to be able to follow what success looks like for you. And honestly, just being an independent thinker at the end of the day, because you may have a lot of people trying to bring you down, but you still have to have the ability and the will to win in order for you to be able to succeed long-term.
Video 4 Transcript
All right, so some tips for success as an entrepreneur. Networking, networking, networking. I'm a big believer in getting to know people, sharing your story, sharing what you believe in, what you're trying to accomplish with as many people as you can. But the thing is, it's not about taking as an entrepreneur, it's much more about giving. And you know that it's going to come back in some way, shape, or form, but that's not what you expect. So as advice to succeed, it's you give, give, give. So when people need help, you give it. When people need mentorship, you do it. When people need advice, you give it. And as much as you can, you help, help, help, give, give, give, and then you'll be able to have a lot more success in my opinion.
Video 5 Transcript
So a business tip that you might not hear from someone else, but has served me well in my own business is to stay curious. I'm not naturally a flexible person. I like to have a plan. And so when people tell me to be more flexible in my business, that really kind of irritates me. But I like the word curious better, because if you can learn to be a curious person, then you can learn to do anything. You can learn to overcome any roadblock that you're facing in your business. You can handle any difficult client that you have or any difficult situation that you come across in your business if you're just curious. And if you stay curious and want to learn more and learn how to ask good questions and to probe and to ponder what they're saying and what the problem is, then you're going to go far in your business. So stay curious.
Video 6 Transcript
Hey, Nat Hard with a tip for success for entrepreneurs. You'll be successful when you understand the principles of gross profit margin and net profit margin and price your services and run your business accordingly. Gross profit margin is how much money you have left over after you have paid for the direct costs of the product or service that you have sold. Net profit margin is how much money you have left over after you've paid for all of your other general and overhead business expenses. So say you create a product and you have to spend $50 on materials to make this product. You turn around and sell it for $100. So your gross profit is 50, 100 minus 50 equals 50, 50% gross profit margin. Great. But now with those $50, you have to pay your attorney, your taxes, your insurance, the rent on your office, and so on. And hopefully you'll spend $40 or less of the remaining 50 to pay for all of those things. So at the end of the year, you have $10 left over as your net profit.
Video 7 Transcript
You know, two quick tips for success. Number one is do not forget your customers. When you, if you start scaling and you're successful with customers, it can be easy to forget about them and just you keep getting new customers. But it's like get your raving fans and make sure you stay close to them, whether it's through a user panel, a customer advisory council, leverage your customer voice all the time because they are the ones paying for your solution and they can help dictate the future, which is awesome. Number two is a book I recommend. It's called The Advantage. It's all about organizational health and it gives you a really nice framework for how to manage your team, whether they're a founding team, a leadership team, and your employee base and making sure everyone's on the same page because organizational health, as the book talks about, trumps everything else in business. And I believe that to be true. If you're a healthy organization, good things will come. If you're unhealthy, you'll feel it, your employees will feel it, and it's to your detriment. So that's my second tip.
