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