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The Power of Requests and Questions: How Asking Makes You a Successful Entrepreneur

The Power of Requests and Questions: How Asking Makes You a Successful Entrepreneur

A key attribute of a successful entrepreneur is his ability to make a request or ask questions. Even though this may seem like an obvious distinction, many entrepreneurs underestimate the power of asking.

The consequences of not asking can affect the progress of your entrepreneurial venture. Many entrepreneurs are still stuck in this notion of trying to become successful without asking for help. Unfortunately for them, they will struggle to get out of square one.

Successful entrepreneurs like Sir Richard Branson, Steve Jobs, and Bill Gates all owe their fortunes to their ability of making requests and asking the right questions. They all know the power of asking has helped them achieved their goals; their accomplishment were not carried out by themselves alone.

The power of asking will serve you greatly on your path towards entrepreneurial success. If you need further convincing, here are seven benefits of making requests and asking questions.

1. If you don’t ask, you won’t get.

No one will know what you want if you don’t ask. It is as simple as that.

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A major obstacle that many entrepreneurs face when they ask someone is the feeling of shyness and intimidation. You will be pleased to know that every successful entrepreneur was in the same boat before they made their first request.

A good way to overcome shyness or intimidation is to remember there is no harm in asking. The worst that can happen when you ask someone is that they will say “no.”

2. You save time.

You can save a lot of time by asking for help. Many successful entrepreneurs will agree with this benefit.

In 1969, a young Sir Richard Branson was arrested and spent a night in jail for smuggling a stack of vinyl records through British customs. He did this to avoid paying taxes. Fortunately for Sir Richard, the officials did not press any charges against him. In his autobiography, Branson wrote that after being released from jail, he learned a valuable lesson in asking people for help. If Branson had asked someone for advice on how to pay less taxes through a legal route, he would not have wasted so much time travelling and smuggling records into the country.

In order for you to save time, make a list of key tasks within your project that you are not fully comfortable in completing. It is important that you are honest with yourself when you make this list. Then ask the relevant people in your network on how to complete those tasks without wasting so much time.

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3. You get better at negotiating.

Not everyone is going to comply to your request, but the power of asking will help to improve your negotiations skills. You can improve your negotiation skills by adding a favor in return of your request. For example, if you are a website designer and you ask a caterer for their services at a discounted rate, you can add in a favor of developing their website at a discounted rate.

4. You build better professional relations.

It helps to understand both your colleagues and collaborative partners in the long-run. By establishing strong professional relations, your collaborative projects will be completed on time. You can build strong relations by asking your colleagues about their work habits and their strengths. Using this valuable information, you can develop a plan that can work around their unique traits.

5. You build strong customer relations.

An entrepreneur cannot succeed without his customers. Successful entrepreneurs know the true value of understanding their customers by simply asking them. Regularly interacting with your customers can reveal what is really in demand in your segment of the market. Thanks to social media, you can easily interact with your customers and retrieve feedback straight away.

6. Asking gives you a competitive edge over non-askers.

There is an old saying that many entrepreneurs still believe in and it goes:

“The world belongs to the takers.”

The above quote is far from the truth. The world of entrepreneurship and business really belongs to  “askers.”

A majority of entrepreneurs don’t take the time in making requests or asking questions. They settle for what is given to them. But you should use this to your advantage; entrepreneurs who are not afraid to ask will get what they want and they don’t settle for anything less. Be different; put yourself out there.

7. You get out of your comfort zone.

This is a big benefit. The power of asking can get you out of your comfort zone. It encourages you to interact with different people and helps you overcome any feeling of shyness/intimidation. The more people you interact with, the more requests you can make.

How to prepare yourself to make requests or ask questions.

The benefits written above show that entrepreneurs who ask around will progress much further on life. To help you start preparing your requests and questions, here are a few handy tips.

1. Know what you want.

This is key. If you don’t know what you want, then you will not know what to ask. It is as simple as that. To know what you want, get a pen and paper and write down your main entrepreneurial objectives. Then write a list of suitable questions and requests that will help you achieve your objective. Ensure your questions and requests are politely worded; a “please” and a “thank you” can go a long way.

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2. Find out who to ask and where to find them.

Only certain people will be able to comply to your request or question. If your request or question is about web design, then you need to ask a web developer/designer. A key tip to help you find the right person is knowing where they congregate. People who share a similar skill will congregate together often, usually at networking events or online forums. Do some research on these networking events and online forums, then take necessary action.

3. Go out and ask.

Mastering the power of asking takes trial and error. It is crucial to maintain a positive mindset when you start asking around. If you have experienced a string of rejections, use this an opportunity to review your questions/requests and see how they can be improved. Asking is a skill, it takes practice to master it.

Featured photo credit: Roo Reynolds via farm3.staticflickr.com

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Last Updated on May 15, 2019

10 Most Successful Entrepreneurs and What We Can Learn from Them

10 Most Successful Entrepreneurs and What We Can Learn from Them

Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

1. Melanie Perkins: Know Your Worth and Keep Trying

    Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

    She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

    Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

    2. Bill Gates: Keep Learning and Exploring

      If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

      Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

      He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

      “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

      Gates’ success is built on self-improvement and the seeds of an idea.

      3. Elon Musk: Never Stop Innovating

        Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

        Elon Musk, however, breaks that rule.

        Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

        When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

        Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

        4. Richard Branson: Develop People First

          British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

          The billionaire is strongly particular about working with a team that shares his core values and aspirations.

          Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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          A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

          Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

          5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

            Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

            For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

            While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

            While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

            6. Mark Zuckerberg: Start Small, Think Big

              Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

              “The biggest risk is not taking any risk.”

              He’s always daring to explore with a fearless mindset.

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              The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

              However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

              7. Steve Jobs: Live Your Own Dreams

                Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                8. Warren Buffett: Balance is Essential to Success

                  Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                  After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                  With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                  9. Jack Ma: Never Give up

                    On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                    Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                    His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                    Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                    10. Tan Min Liang: Passion Can Pay Off

                      Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                      Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                      The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                      So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                      Final Thoughts

                      In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                      Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                      Featured photo credit: Patrick Tomasso via unsplash.com

                      Reference

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