Black Friday Sale! 50% Off All Access

The 6 Best Lessons I've Learned In Life So Far Making money doing what you value and using what you earn to live a bigger life are what entrepreneurship is all about.

By Timothy Sykes Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

My students always ask me how I became successful. I tell them that my experiences in life taught me everything I needed to know about being successful. The best lessons of all come from what we experience in the real world. But of all the lessons I've learned I can boil them down to six.

1. Travel everywhere you can.

My biggest personal outlay is for the traveling I do. It's my goal to eventually visit every country in the world. Every country and its people have something amazing to offer. You learn so much about the way people work and their societies function. I've taken many of those lessons back with me and incorporated them into my business.

Nothing has taught me more than traveling has.

Related: 25 Things You Need to Know to Happily Travel the World

2. Money can't make you happy but it does buy you time and experience.

Money for money's sake is pointless. You're not going to be motivated by that. But what it does buy you is time to do what you love. It buys you experience to become an expert in what you love. When you find your passion, you're motivated for life, even when times are tough.

By all means aim to get rich, but put it in perspective. Ask yourself the question: why do you want to get rich?

Related: 7 Poisonous Beliefs That Make You Desperately Unhappy

3. We're in an era like no other.

It's easy to complain about crowded markets and the effects of globalization on small business. But when you stop and think you realize we're in an era like no other. The opportunities that have always existed in the real world are still there. Now we have the online world, though. That's a second world we've never had before.

Use this additional world to create new money-making ventures. Sometimes when I'm stressed I just think that I have the advantages my parents and my grandparents didn't have. It encourages me to get right back to work.

Related: How to Create a Facebook Messenger Chatbot For Free Without Coding

4. Be ambitious.

Dreaming big is what I've always done and it's what I encourage my students to do. The mainstream is largely full of unsuccessful people, so don't pay attention to them. There's nothing you can't accomplish if you're willing to put the work in.

5. Finding what you love is the key to happiness.

Fail at something you hate and you'll be miserable. Fail at something you love and you'll still be happy enough to get back on the horse again. During tough times, all that's kept me going is my desire to continue doing what I love. It sounds like something out of a Disney movie, but passion really is all you need in life.

Related: 8 Keys to Finding Your Inner Happiness

6. Build your dreams, not someone else's.

I've met plenty of successful people. I've also met plenty of successful people who're utterly miserable. Yes, they've achieved what most would consider as a success, but they haven't done what they've really wanted to do. They've achieved someone else's dreams. Maybe their parents pushed them into it? Maybe it was what society wanted? The point is they're not doing what they wanted to do.

Build your own dreams, not someone else's.

Timothy Sykes

Entrepreneur and Penny Stock Expert

Timothy Sykes is an entrepreneur and a penny stock expert, trader and advocate. He has been featured on CNN, Fox News, CNBC and more. Watch his media appearances and speeches on Youtube here.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Living

These Are the 'Wealthiest and Safest' Places to Retire in the U.S. None of Them Are in Florida — and 2 States Swept the List.

More than 338,000 U.S. residents retired to a new home in 2023 — a 44% increase year over year.

Starting a Business

This Sommelier's 'Laughable' Idea Is Disrupting the $385 Billion Wine Industry

Kristin Olszewski, founder of Nomadica, is bringing premium wine to aluminum cans, and major retailers are taking note.

Business News

DOGE Leaders Elon Musk and Vivek Ramaswamy Say Mandating In-Person Work Would Make 'a Wave' of Federal Employees Quit

The two published an op-ed outlining their goals for their new department, including workforce reductions.

Business News

These Are the Highest Paying Jobs Available Without a College Degree, According to a New Report

The median salaries for these positions go up to $102,420 per year.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.