10 World-Renowned Entrepreneurs Reveal Their Business Secrets Learning from successful people is one of the few shortcuts to success that works.
By Grant Cardone Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
The world's best in business know that in order to make massive amounts of money, you have to know a thing or two about the marketplace. These are 10 men who have already made fortunesand are continuing to grow and prosper more each and every month. Here are their secrets.
Daymond John, Founder & CEO of FUBU, and Star of ABC's Shark Tank
Become What You Think
My friend Daymond John has said that you become what you think about the most. What do you think about most? Are you thinking about who to draft next fall in your fantasy football league already, or are you thinking about how to earn more money? If your mind isn't on your business, your business isn't going to go far. You think you are timid, a bad salesman, an introvert? That's what you will be, because people become what they think. Take a lesson from Daymond John, and think about what you want to happen, what you want to be.
Application: Write down today what you want to become, what you want your business to become. Read it every night before going to sleep.
Related: 10 Habits of Unlikeable People
Kevin Harrington, Original Shark on @ABCSharkTank, Entrepreneur
Come Up with New Ideas Your Competitors Haven't Thought of Yet
You only stay in front by coming up with ideas your new competitors haven't thought of yet. Ideas are a dime a dozen but they are the first step to creating new products and services. It's those who act on those ideas fast and bring them to market that get rewarded. To make it big in business takes creativity and innovation. What things are your competitors not doing? To dominate the market, you have to bring fresh ideas that others haven't thought of.
Application: Take time today to brainstorm what your competitors are NOT doing. See if you can find an opportunity.
Related: Want to Be Happy? Stop Doing These 10 Things.
Les Brown, Legendary Motivational Speaker
Help Others Achieve Their Dreams and You Will Achieve Yours
This is true no matter what industry you are in. When you give value, when you genuinely help people, you will get rewarded in the market place. Give, give, give. The old saying is that "It's better to give than receive," but in selling, the giving has to happen first. Then, you're in a position to make a sale and receive. Selling is the act of giving not getting, serving not selling, assisting your client first and then closing a sale. Help others achieve their dreams.
Application: Write down what it is that you sell that helps others. Get specific. How does your product or service help the world? Then brainstorm how you can enhance this and give even more value.
Related: How to Start a Business When You're an Introvert
Jay Abraham, CEO & Business Strategist
You Should Think of Your Clients as Dear, Valued Friends
Treating clients like you would a friend is how to grow a business. You must exceed your customer's expectations and deliver outstanding customer service. The greats control the service—not the customer. Don't delegate it to someone else. Give excellent customer service before the sale, during the sale, and after the sale. See service as opportunity. Go beyond ordinary and become extraordinary to see your business explode.
Application: How do you treat your clients? Be brutally honest. Write down 3 ways you can improve your relationship with those that buy from you.
Related: 5 Habits of Successful People Before 8 a.m.
Russell Brunson, Founder ClickFunnels, Author, Speaker
Find a Market That's Hot and Figure Out How to Get Into That
Sometimes you may just be in the wrong business. Find what sells and sell it. You can have a great idea, but if there is not a market for it, you won't be in business for long. People buy things to solve problems. What problem does your product or service solve? What are the big problems you see around you? Every problem is an opportunity. Problems for the successful are like a meal to the hungry. You know you are getting into a hot market when you start solving big problems for massive amounts of people.
Application: Is what you're selling actually solving a problem? Make a list tonight of all the markets that are hot. Ask yourself why they are hot, what problems do they solve? How might you benefit from these?
Related: How to Leave Your Corporate Career and Successfully Launch Your Own Gig
Tim Grover, Best Selling Author & CEO of ATTACK Athletics
Demand More from Yourself Than Anyone Else
You must do more than the competition. Most people never aim high enough and, therefore, their business never gets to where it could be. Most people underestimate the amount of effort, energy and resources that are required to ever succeed. You must set expectations for yourself higher than anybody else around you. Become sold on you and your business and demand greatness from yourself.
Application: Write down your own expectations. If they aren't higher than the expectations you have for others, raise them.
Related: Warren Buffett and Bill Gates's Top Secret to Success
Lewis Howes, Best Selling Author, Motivational Speaker
Failure is Feedback
When you don't make the right moves, it doesn't mean that you are bad or not good enough or incapable. Failure gives you the opportunity to look at what's not working and figure out how to make it work. We all fail, so just be willing to fail. In truth, you've got to be willing to fail knowing failure is actually impossible. Check it out; the only way you can actually fail is if you give up, if you quit. Take failure in your business endeavors as feedback—you need to change something in order to succeed!
Application: Analyze your past failures if you haven't already done so. What did you do wrong? What can you learn to do right from those mistakes?
Related: 3 Ways to Attract a Millionaire Mentor
Andy Frisella, Entrepreneur, Speaker, Author The MFCEO Project Podcast
Dream Huge
Successful people in business dream big and have immense goals. They are not "realistic." They leave that to the masses who fight for leftovers. "Big think" changes the world, and it will certainly change your business. Dream big, go big, and then figure out how to go bigger than that. The middle class is taught to be realistic, whereas successful people in business think in terms of how extensively they can spread themselves. Start thinking and dreaming about how you can expand!
Application: Begin writing down your dreams every night. Let nothing be thought of as stupid or unrealistic, just allow yourself to dream big.
Related: 7 Things You Must Do Before Quitting Your Job or You're Screwed
Tim Storey, World-Renowned Motivational Speaker
Don't Fear Change, Embrace It
Most people don't like change. You must continually change, adapt, and refocus in life to stay ahead in the game. If you aren't updating your business on a regular basis, then you will become stagnant. You don't change just for the sake of change, rather you change because you can always find ways to improve. If your business never changes, it will die.
Application: Write down all the ways your business has changed since its inception. Next, list all the ways it has stayed the same. Is there anything on the second list that could be updated?
Related: What to Do Instead of Going to College (or After You've Already Gone)
Victor Antonio, Sales Expert, star of Spike TV's "Life or Debt"
Know That What Your Client Wants May Not Necessarily Be the Best for Them
To get great in business you must learn sales. The greats figure out through a series of questions the real issues a client has and can refocus them on what they need. Asking good questions, understanding the buyer's true wants, needs and motivation all while demonstrating you truly care about the customer is vital to making the sale. A business in not a business apart from sales.
Application: What is your qualifying process? Are you able to steer customers from one product to the next, or do you get stuck? Make a commitment to master the art of sales.
Each of these men will be speaking at 10X GrowthCon -- the biggest entrepreneurial business conference of all-time. Want to take your business to the next level? Get a ticket! They are almost sold out -- learn more here.
