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8 Pieces of Advice Every Young Professional Should Be Told

8 Pieces of Advice Every Young Professional Should Be Told

Everybody has heard the saying, “Work smarter, not harder,” but isn’t it hard work just thinking about ways to be smarter? The following eight pieces of professional advice will serve to inspire or revolutionize your strategies for success, as they have done for mine.

1. Find a person who has the life or job you want.

Purely as a result of their own ego, this person will tell you all about how they got where they are, and how you can too. Even if this is a person you don’t know that well, drop them an email to ask if you can buy them a coffee and talk about their job. I did this three times while working in banking; bankers aren’t known for their generosity, but they are known for their ego, and what does any successful ego love more than talking about itself? I’ve also done this several times since leaving finance to go into my dream career, medicine. (Another benefit of this is they always insist on buying the coffee anyway.)

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2. Develop an interesting and relevant skill that isn’t a prerequisite.

Everybody who is worthy of being called your competition has the necessary skills and experience for the job you want. Just like driving through a city at rush hour, if you try to beat everyone else on what is normally the proper, most efficient route to work, you will arrive later than if you took the slightly inconvenient back roads with less traffic. The same goes for the skills market: you need to be good at the prerequisite skills, but if you only put your energy into those, you might find the traffic on that route overwhelming when you try to stand out. Develop a niche skill that is desirable but not something the competition has to have. It will make you more interesting and more useful.

3. Get a mentor.

Ideally this would be somebody senior within your company, but really it can be anybody more experienced than you in your industry: someone who is respected and who has influence. Again, if you appeal to this person’s ego and/or generous side, you will have somebody you can send hundreds of career-related questions to. They will also become incredibly useful when you need somebody to vouch for you.

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4. Realign your day-to-day efforts with the expectations you have for your future.

If you picture yourself achieving something impressive one day, then ask yourself: “Am I doing anything that is impressive right now?” If the answer is no, then you need to pick up your game. You can’t plod along in the middle of the pack if one day you hope to lead it. What are you already doing today to set yourself apart from your peers?

5. Make a five-year plan.

This isn’t just to help you figure out where you want to be in five years’ time; most importantly it is a detailed plan of how you’re going to get there. Start with where you want to be in five years and then work back, step-by-step, including each task/project/accomplishment you will need to achieve to move between steps. The results will probably scare you because if you’re ambitious you will realize there are steps you need to take now to be on schedule.

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6. Don’t say, “If it’s meant to be, then it will happen.”

This thought is incredibly comforting and it can occasionally be useful when you’re bravely bouncing back from a setback. But really this thought is just an excuse for inaction. It will be toxic to achievement if you’re not careful because this mind-set may remove the burden of progress from you and allows you to become passive instead of leading the charge on your goals.

7. Surround yourself with people you admire and ditch the ones who breed negativity.

People tend to recalibrate their definitions of what is normal, what is possible, and what counts as success based on their surroundings. You can achieve things that nobody thought possible of you once you’ve reset your standards to a higher point. At the same time, the more successful or happy you become, the more you will either encourage negativity or inspiration in your friends or colleagues. They may have to adapt to a new perspective of what is possible. Surround yourself with people you admire to raise the bar for yourself so you accomplish more, and get rid of those people who want to bring you back down to the level that they’re comfortable with. Just be careful that the people you admire are a diverse group or you risk becoming a polarized, one-dimensional person.

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8. Practical intelligence is a much higher predictor of success than IQ—work on it!

A decent IQ is a prerequisite for any good job, but it’s repeatedly been shown to not be a great indicator of success. In fact, research suggests once you have a moderately high IQ (>125), this is sufficient for pretty much most jobs in the world. A much more reliable indicator of someone’s success than IQ is their creative and practical intelligence. Malcolm Gladwell, author of Outliers, describes this as, “not knowledge for its own sake. It’s knowledge that helps you read situations correctly and get what you want.” A high IQ enables you to apply yourself very well to a given task, which is good but isn’t going to set you apart. To be successful in the world you have to create tasks, and figure out which tasks you should apply yourself to in the first place.

Have you got any hot tips for young players? Have you ever been given professional advice that worked really well for you? Let us know in the comments below.

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Last Updated on October 18, 2018

10 Key Characteristics of a Highly Successful Entrepreneur

10 Key Characteristics of a Highly Successful Entrepreneur

When it comes to starting your own business and pursuing your dream of becoming an entrepreneur, it can be advantageous to go all in and embrace the flexibility of finally quitting your day job.

Keep in mind, though, that it takes a special kind of person to take the business world by storm: a person who has cultivated the key characteristics of entrepreneurial success.

People with these characteristics are likely to succeed, whereas people without them have difficulty moving forward with even the most brilliant business ideas.

These characteristics of an entrepreneur are so important that I’ve decided to cover all 10 of them in detail so that you can start your business with your best foot forward.

1. Successful Entrepreneurs Practice Discipline

Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

Andrew Carnegie, one of the most financially successful Americans of all time, grew up working dull and difficult jobs in factories. Despite going to bed hungry some nights, he continued doing his best work. He was eventually hired by a railroad company and continued to move up the ladder until starting his own successful businesses. Carnegie is a fine example of an entrepreneur dedicated to discipline and hard work. He truly earned his dreams of prosperity and success.

When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early.

Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

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2. Successful Entrepreneurs Keep Calm

Things go wrong when you run your own business.

Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

Honestly, losing your calm is a quick path to becoming the kind of person who gives up in the face of adversity. Instead giving in to frustration, remember classic entrepreneur Benjamin Franklin.

Franklin kept his calm as he experimented and tweaked his inventions again and again in pursuit of success. He didn’t give up during his many failures – he chose to innovate. You can choose innovation, too.

If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

3. Successful Entrepreneurs Pay Attention to Details

Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

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After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

Skeptical about the importance of details? Look no further than Howard Schultz, who grew a small coffee shop called Starbucks into one of the most globally successful coffee businesses in the world through his extreme attention to detail.

He is famous for taking all aspects of growing a business into account, paying attention not only to financially smart business decisions, but also focusing on socially responsible business decisions. Details can take you far.

4. Successful Entrepreneurs Embrace Risks

No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

Embracing risks is essential for growth and additional success, as well. Walt Disney, for example, could have stayed comfortable with his advances in the film and animation industries, but decided to expand his brand with a new dream: a theme park that soared above the competition. Without taking this risk, the incredibly successful Disney theme park empire would never have come about.

An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

5. Successful Entrepreneurs are Balanced

You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

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As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

Oprah Winfrey, one of the most successful and influential entrepreneurs out there, understands the importance of balance. Winfrey has a lot going on; she runs her own media kingdom, acts, produces films, publishes print, and more. In an interview with Fast Company,[1] she talks about her efforts to balance priorities and self care, saying that she must ask herself what is truly important in each limited day.

You may or may not have as much on your plate as Oprah, but learning how to balance whatever you have going on in life will certainly help you farther along down the road as you learn to be a great entrepreneur.

6. Successful Entrepreneurs are Passionate and Motivated

In order to develop any of the above characteristics, you must have a foundation of passion. Staying disciplined day after day during the building of your business takes unrivaled motivation.

Before you start any business, ask yourself if you can sustain true excitement about your idea during even the darkest days ahead of you. If the answer is yes, then good for you! Nurture your natural motivation by taking these action steps throughout your business journey:

  • Commit to making short and long-term goals. Check in with them often to stay on task.
  • Have a plan in place for the inevitable days when you feel discouraged. Make a list of things that will help keep you motivated and focused.
  • Share your ideas with trusted individuals who are just as excited as you are. They will help keep your enthusiasm rolling even when you are feeling down.

By being prepared for apathetic days and holding fast to your authentic passion, you can actually enjoy your journey to success.

7. Successful Entrepreneurs Adapt

Remember this one word: flexibility. Seasoned entrepreneurs know that change is not only a part of life, but also a part of the business world. Expect change and choose to adapt.

As a new entrepreneur, it will be tempting to cling to your original business plan with no exceptions, even if you notice it isn’t working. Good entrepreneurs know that it’s okay to make smart, informed changes in order to ensure efficiency.

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8. Successful Entrepreneurs are Marketing and Sales Experts

No matter what kind of business you are starting, a knowledge of marketing and sales will save you many headaches. A passion for creating a beautiful handmade lifestyle product is not enough to run a successful lifestyle brand; it is critical that you understand key business principles in addition to your natural skills or great product line.

Not sure how to start? Taking business courses is a great idea, but you can also easily brush up on sales and marketing through free online resources. Check out these 10 Sales Skills Everyone Should Master To Be Successful to begin now.

9. Successful Entrepreneurs Have Strong Money Management

Along with sales and marketing skills, money management is a very useful tool in the box of the entrepreneur. Understanding how to best manage your money can be the difference between early success and early failure in the business world.

If money management isn’t your strongest skill, prepare to hire a financial expert to help you with any tricky business that comes up. Financial guidance and knowledge is never a bad idea.

10. Successful Entrepreneurs Ask Questions and Continually Improve

Pride is a natural human quality, but it’s important to humbly conduct some constructive criticism every now and again on both yourself as a leader and your new business as a whole.

Assess how things are going and be willing to make positive changes if necessary. Here’re 15 ways to cultivate lifelong learning.

If you are always improving, then how can you ultimately fail?

The Bottom Line

Let me remind you of one important fact: the qualities of an entrepreneur listed here are not exclusively available to some people and elusive to others.

Although some people may have natural strengths and weaknesses, these qualities can be learned by anyone interested in taking up the entrepreneurial challenge. It might not be easy to change old habits, but it is absolutely possible to cultivate these characteristics in yourself.

Whether you’re a business owner or an aspiring entrepreneur, with hard work, you can train yourself to develop the qualities that truly determine the entrepreneurial spirit and future success.

Featured photo credit: Unsplash via unsplash.com

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