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Everything We Can Learn from the Most Famous Entrepreneurs Around the World

Everything We Can Learn from the Most Famous Entrepreneurs Around the World

Does your business seem like it’s about to fail? Do bills pile up and customers don’t come no matter what you do? Instead of giving up, you can learn from the most famous entrepreneurs around the world and follow their examples in finding efficient answers for problems.

Their solutions are different in execution, but they all boil down to these principles:

  • Never stop trying – giving up removes any chance of success.
  • Grab every opportunity – it’ll provide you with resources to accomplish your ultimate goal.
  • Stay focused on your goal but expand your vision – developing in new directions will help you improve and provide additional resources.
  • Turn every failure into a learning experience – use the time you have now to learn something new and try a different approach.
  • Be patient and persevere – understand that success doesn’t come overnight and one has to work hard to achieve it.

Learn from the Most Famous Entrepreneurs: Examples of Perseverance

Let’s learn about some of the most famous entrepreneurs and get inspired by their stories.

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1. Milton Hershey (Hershey’s)

    Hershey started three candy companies in different cities, and each of them failed. He kept trying starting the Lancaster Caramel Company, as caramel was the most popular sweet at the time. Once it got rolling, he sold it to start Hershey’s as he believed that chocolate was the treat of the future.

    2. Todd Graves (Raising Cane’s)

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      Graves’ chicken fingers restaurant business plan was failed by the professors in class and rejected by banks. He did not give up and worked extremely long hours (90-hour weeks) to raise money and start his first restaurant on his own.

      3. Earl Silas Tupper (Tupperware)

        Tupper’s first business went bankrupt, and he barely managed to get a job during the Great Depression. He was hired by the DuPont Chemical company, where he created his first containers and started selling them everywhere he could. The sales were low despite the quality and ingenious design. Eventually, he tried a new approach and established ‘Tupperware parties, suggested by one of the sales executives Brownie Wise.

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        4. Osman Minkara (CIG Capital Advisors)

          Minkara started his business career in the US from the American Express Financial Advisors where he learned all about how to generate more sales leads through cold calls and developed leadership skills. He started his company from the savings he made, but as it began growing, almost all his financial advisors and their clients were seduced away by a competitor. Instead of giving up, Minkara chose to rebuild it from scratch, changing his targeted group of customers and developing a unique line of services. Now his company manages over $200 million wealth.

          5. Nick Woodman (GoPro)

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            Woodman started and failed as an entrepreneur two times. He was reduced to moving in back with parents before trying again and giving his all to GoPro, which turned into a staggering success.

            6. Simon Cowell (American Idol, X-Factor)

              Bouncing between jobs since he was 15, Cowell finally discovered his passion for music production when he got hired by the EMI Music Publishing (worked in a mail room). His first independent publishing company failed within a year, and he went to a small music company where he stayed for eight years and worked to pay off his huge debts. Then he continued working with talents behind the scenes before he finally managed to launch his most successful franchises.

              To Become a Successful Entrepreneur: Never Give Up

              There are hundreds of stories similar to these, but all these entrepreneurs teach one most important lesson. One should never give up.

              If your original idea fails, don’t just beat the same path. Develop a new approach and try again and again.

              More by this author

              Melissa Burns

              Melissa is an entrepreneur and independent journalist. She writes about communication, entrepreneurship and success on Lifehack.

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              1 The Power of Ritual: Conquer Procrastination, Time Wasters and Laziness 2 How to Stop Being Passive and Start Getting What You Want 3 How to Prevent Decision Fatigue From Clouding Your Judgement 4 5 Less-Known Reasons Why Less is More 5 10 Smart Productivity Software to Boost Work Performance

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              Last Updated on July 10, 2020

              The Power of Ritual: Conquer Procrastination, Time Wasters and Laziness

              The Power of Ritual: Conquer Procrastination, Time Wasters and Laziness

              Life is wasted in the in-between times. The time between when your alarm first rings and when you finally decide to get out of bed. The time between when you sit at your desk and when productive work begins. The time between making a decision and doing something about it.

              Slowly, your day is whittled away from all the unused in-between moments. Eventually, time wasters, laziness, and procrastination get the better of you.

              The solution to reclaim these lost middle moments is by creating rituals. Every culture on earth uses rituals to transfer information and encode behaviors that are deemed important. Personal rituals can help you build a better pattern for handling everything from how you wake up to how you work.

              Unfortunately, when most people see rituals, they see pointless superstitions. Indeed, many rituals are based on a primitive understanding of the world. But by building personal rituals, you get to encode the behaviors you feel are important and cut out the wasted middle moments.

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              Program Your Own Algorithms

              Another way of viewing rituals is by seeing them as computer algorithms. An algorithm is a set of instructions that is repeated to get a result.

              Some algorithms are highly efficient, sorting or searching millions of pieces of data in a few seconds. Other algorithms are bulky and awkward, taking hours to do the same task.

              By forming rituals, you are building algorithms for your behavior. Take the delayed and painful pattern of waking up, debating whether to sleep in for another two minutes, hitting the snooze button, repeat until almost late for work. This could be reprogrammed to get out of bed immediately, without debating your decision.

              How to Form a Ritual

              I’ve set up personal rituals for myself for handling e-mail, waking up each morning, writing articles, and reading books. Far from making me inflexible, these rituals give me a useful default pattern that works best 99% of the time. Whenever my current ritual won’t work, I’m always free to stop using it.

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              Forming a ritual isn’t too difficult, and the same principles for changing habits apply:

              1. Write out your sequence of behavior. I suggest starting with a simple ritual of only 3-4 steps maximum. Wait until you’ve established a ritual before you try to add new steps.
              2. Commit to following your ritual for thirty days. This step will take the idea and condition it into your nervous system as a habit.
              3. Define a clear trigger. When does your ritual start? A ritual to wake up is easy—the sound of your alarm clock will work. As for what triggers you to go to the gym, read a book or answer e-mail—you’ll have to decide.
              4. Tweak the Pattern. Your algorithm probably won’t be perfectly efficient the first time. Making a few tweaks after the first 30-day trial can make your ritual more useful.

              Ways to Use a Ritual

              Based on the above ideas, here are some ways you could implement your own rituals:

              1. Waking Up

              Set up a morning ritual for when you wake up and the next few things you do immediately afterward. To combat the grogginess after immediately waking up, my solution is to do a few pushups right after getting out of bed. After that, I sneak in ninety minutes of reading before getting ready for morning classes.

              2. Web Usage

              How often do you answer e-mail, look at Google Reader, or check Facebook each day? I found by taking all my daily internet needs and compressing them into one, highly-efficient ritual, I was able to cut off 75% of my web time without losing any communication.

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              3. Reading

              How much time do you get to read books? If your library isn’t as large as you’d like, you might want to consider the rituals you use for reading. Programming a few steps to trigger yourself to read instead of watching television or during a break in your day can chew through dozens of books each year.

              4. Friendliness

              Rituals can also help with communication. Set up a ritual of starting a conversation when you have opportunities to meet people.

              5. Working

              One of the hardest barriers when overcoming procrastination is building up a concentrated flow. Building those steps into a ritual can allow you to quickly start working or continue working after an interruption.

              6. Going to the gym

              If exercising is a struggle, encoding a ritual can remove a lot of the difficulty. Set up a quick ritual for going to exercise right after work or when you wake up.

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              7. Exercise

              Even within your workouts, you can have rituals. Spacing the time between runs or reps with a certain number of breaths can remove the guesswork. Forming a ritual of doing certain exercises in a particular order can save time.

              8. Sleeping

              Form a calming ritual in the last 30-60 minutes of your day before you go to bed. This will help slow yourself down and make falling asleep much easier. Especially if you plan to get up full of energy in the morning, it will help if you remove insomnia.

              8. Weekly Reviews

              The weekly review is a big part of the GTD system. By making a simple ritual checklist for my weekly review, I can get the most out of this exercise in less time. Originally, I did holistic reviews where I wrote my thoughts on the week and progress as a whole. Now, I narrow my focus toward specific plans, ideas, and measurements.

              Final Thoughts

              We all want to be productive. But time wasters, procrastination, and laziness sometimes get the better of us. If you’re facing such difficulties, don’t be afraid to make use of these rituals to help you conquer them.

              More Tips to Conquer Time Wasters and Procrastination

               

              Featured photo credit: RODOLFO BARRETO via unsplash.com

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