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5 Steps To Become A True Entrepreneur From One College Dropout Who Reinvented Himself

5 Steps To Become A True Entrepreneur From One College Dropout Who Reinvented Himself

Dropping out of college and hanging out in your parents’ garage aren’t parts of the traditional recipe for success. In Sam Ovens case, something was different. By his second year of university, Sam knew that staying in school was not doing him any good. He wasn’t interested in the 9 to 5. Like most budding entrepreneurs, he wanted something different – something better.

In 4 short years, Sam made $10,000,000 dollars and moved out of his parents’ New Zealand garage to Manhattan. Sam rewrote the playbook for the consulting industry, and, at 26, he’s one of the fastest-rising successful entrepreneurs. There was no magic moment that turned his life around, and his rapid success offers lessons for other, would-be entrepreneurs.

Successful Entrepreneurs Are Made by Experience

OVENS International, the consulting company that led to this entrepreneur’s wild success, was not his first business. It wasn’t even his first successful business. It did change the way he thinks about entrepreneurship, however. From his parents’ garage, Ovens had started several previous businesses, including a reverse job board that flopped after nine months of hard work and investment. He had nothing, but didn’t quit.

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Research shows that he was in good company, repeat entrepreneurs are more successful. Learning from mistakes is what separates a business owner with a decent shot at success from someone like Sam Ovens, who entered the business consulting industry, flipped it on its head, and enjoyed wild success by the age of 26.

Never Underestimate the Value of Being Organized

Repeat business ownership can teach valuable lessons, but only if you are prepared to learn from previous mistakes. Planning and organizing are vital to an entrepreneur’s skillset for a few reasons, most importantly because you can’t learn a lesson from the past if you don’t know where things went wrong in the first place.

There is another reason to stay organized and plan. Building your personal brand takes time and commitment. Your agenda will already be packed, and if you aren’t following a schedule and planning, making time for personal branding could be easy to overlook. Your personal brand is just as important as your company’s branding. Look at Steve Jobs, Elon Musk, Bill Gates, Richard Branson – their names are synonymous with the companies they created.

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Look for Solutions Where Others Think They are Impossible

One lesson repeat entrepreneurs master is the need to rethink approaches, both theirs and accepted industry practices. The willingness to self-criticize, analyze, and innovate are skills that make breakthroughs more possible.

One of the most common questions startup owners are asked is how they came up with their ideas. Sam’s story offers a clear lesson on this count. The innovative nature of startups is often a result of the analytical nature of the people running them. Innovation isn’t a one-time event in a successful startup’s life. Success doesn’t revolve around a single decision. It’s a process that evolves over time, as important decisions are evaluated and reevaluated. The willingness to rethink what existed is why Ovens’ consulting firm succeeded so quickly, and how he could reshape the industry’s grey areas into a clear science.

Talk to People

No matter how amazing your product or service is, it cannot sell itself. Talking with people about what you do is a major step in advancing your brand, and one that can be particularly difficult for introverts. Start with your personal network. Discuss your business with friends and family, and sell them on what you do. It’s often easier to sell to your personal network. They already know you, and talking with them is less intimidating than approaching strangers.

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Once you have your elevator pitch mastered and have made a few sales in your personal network, ask for referrals. Grow your business through family and friends first, and ask for testimonials. The ego boost from a few good testimonials will help you to get over any rejection you might face later and you can also use them to help attract new customers.

Last Word – Keep Analyzing and Evaluating Your Decisions

Sam Ovens took an incredible journey from living in a garage with three failed businesses behind him to managing a multimillion dollar consulting firm from Manhattan. He’s made millionaires out of nine other consultants and helped nearly 140 more earn six-figure incomes. His success is the product of repeatedly analyzing and evaluating himself and his company and remaining flexible but persistent.

Look in the mirror. Don’t be afraid to criticize yourself or your business. The change brought on through careful analysis can take your business from a pipe dream to an overnight success.

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Featured photo credit: http://www.pixabay.com via pixabay.com

More by this author

Casey Imafidon

Specialized in motivation and personal growth, providing advice to make readers fulfilled and spurred on to achieve all that they desire in life.

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Last Updated on March 29, 2021

5 Types of Horrible Bosses and How to Beat Them All

5 Types of Horrible Bosses and How to Beat Them All

When I left university I took a job immediately, I had been lucky as I had spent a year earning almost nothing as an intern so I was offered a role. On my first day I found that I had not been allocated a desk, there was no one to greet me so I was left for some hours ignored. I happened to snipe about this to another employee at the coffee machine two things happened. The first was that the person I had complained to was my new manager’s wife, and the second was, in his own words, ‘that he would come down on me like a ton of bricks if I crossed him…’

What a great start to a job! I had moved to a new city, and had been at work for less than a morning when I had my first run in with the first style of bad manager. I didn’t stay long enough to find out what Mr Agressive would do next. Bad managers are a major issue. Research from Approved Index shows that more than four in ten employees (42%) state that they have previously quit a job because of a bad manager.

The Dream Type Of Manager

My best manager was a total opposite. A man who had been the head of the UK tax system and was working his retirement running a company I was a very junior and green employee for. I made a stupid mistake, one which cost a lot of time and money and I felt I was going to be sacked without doubt.

I was nervous, beating myself up about what I had done, what would happen. At the end of the day I was called to his office, he had made me wait and I had spent that day talking to other employees, trying to understand where I had gone wrong. It had been a simple mistyped line of code which sent a massive print job out totally wrong. I learn how I should have done it and I fretted.

My boss asked me to step into his office, he asked me to sit down. “Do you know what you did?” I babbled, yes, I had been stupid, I had not double-checked or asked for advice when I was doing something I had not really understood. It was totally my fault. He paused. “Will you do that again?” Of course I told him I would not, I would always double check, ask for help and not try to be so clever when I was not!

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“Okay…”

That was it. I paused and asked, should I clear my desk. He smiled. “You have learnt a valuable lesson, I can be sure that you will never make a mistake like that again. Why would I want to get rid of an employee who knows that?”

I stayed with that company for many years, the way I was treated was a real object lesson in good management. Sadly, far too many poor managers exist out there.

The Complete Catalogue of Bad Managers

The Bully

My first boss fitted into the classic bully class. This is so often the ‘old school’ management by power style. I encountered this style again in the retail sector where one manager felt the only way to get the best from staff was to bawl and yell.

However, like so many bullies you will often find that this can be someone who either knows no better or is under stress and they are themselves running scared of the situation they have found themselves in.

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The Invisible Boss

This can either present itself as management from afar (usually the golf course or ‘important meetings) or just a boss who is too busy being important to deal with their staff.

It can feel refreshing as you will often have almost total freedom with your manager taking little or no interest in your activities, however you will soon find that you also lack the support that a good manager will provide. Without direction you may feel you are doing well just to find that you are not delivering against expectations you were not told about and suddenly it is all your fault.

The Micro Manager

The frustration of having a manager who feels the need to be involved in everything you do. The polar opposite to the Invisible Boss you will feel that there is no trust in your work as they will want to meddle in everything you do.

Dealing with the micro-manager can be difficult. Often their management style comes from their own insecurity. You can try confronting them, tell them that you can do your job however in many cases this will not succeed and can in fact make things worse.

The Over Promoted Boss

The Over promoted boss categorises someone who has no idea. They have found themselves in a management position through service, family or some corporate mystery. They are people who are not only highly unqualified to be managers they will generally be unable to do even your job.

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You can find yourself persistently frustrated by the situation you are in, however it can seem impossible to get out without handing over your resignation.

The Credit Stealer

The credit stealer is the boss who will never publically acknowledge the work you do. You will put in the extra hours working on a project and you know that, in the ‘big meeting’ it will be your credit stealing boss who will take all of the credit!

Again it is demoralising, you see all of the credit for your labour being stolen and this can often lead to good employees looking for new careers.

3 Essential Ways to Work (Cope) with Bad Managers

Whatever type of bad boss you have there are certain things that you can do to ensure that you get the recognition and protection you require to not only remain sane but to also build your career.

1. Keep evidence

Whether it is incidents with the bully or examples of projects you have completed with the credit stealer you will always be well served to keep notes and supporting evidence for projects you are working on.

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Buy your own notebook and ensure that you are always making notes, it becomes a habit and a very useful one as you have a constant reminder as well as somewhere to explore ideas.

Importantly, if you do have to go to HR or stand-up for yourself you will have clear records! Also, don’t always trust that corporate servers or emails will always be available or not tampered with. Keep your own content.

2. Hold regular meetings

Ensure that you make time for regular meetings with your boss. This is especially useful for the over-promoted or the invisible boss to allow you to ‘manage upwards’. Take charge where you can to set your objectives and use these meetings to set clear objectives and document the status of your work.

3. Stand your ground, but be ready to jump…

Remember that you don’t have to put up with poor management. If you have issues you should face them with your boss, maybe they do not know that they are coming across in a bad way.

However, be ready to recognise if the situation is not going to change. If that is the case, keep your head down and get working on polishing your CV! If it isn’t working, there will be something better out there for you!

Good luck!

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