Everyday people come up with unique ideas, but frequently there is no action and then when they see an infomercial for a similar product they say, “Hey, that was my idea”. A good idea is only part of being an Entrepreneur. The secrets to success are recapped in the following article by Stanley Tang.
The Secret Formula to Success is… hard work plus passion over time. (Hard Work + Passion) / Time = Success
It’s that simple.
You Have To Work Hard There is no “easy route” or “get-rich-quick overnight”. Yes, there are some people who get lucky and make a fortune without working at all and provide little value to their customers, but those usually end up as fly by nights. If you are really looking for long-term success, hard work is really the key. There is no shortcut. Yes, there are ways which you can accelerate your pathway to success, like getting a mentor, good courses, books, software, leveraging others etc., but you still have to work hard. Entrepreneurs are probably one of the most hardworking types of people on the planet. There are no magic pills.
So if you are getting into business thinking it’s going to be easy (which was the mindset I had when I first got started – before I realized how dead wrong I was), let me tell you it’s not and you’re better off doing something else. If you keep working at something for long enough, then ultimately, you will win and succeed. You’ve just got to be persistent.
The Story of Colonel Sanders
A great example of this is Colonel Sanders, founder of KFC. He was 65 years old and was dead broke at the time. His only asset – a secret chicken recipe. He knew he wasn’t going to make it on pensions alone, so he decided to travel across the country and tried to sell his secret recipe to restaurant owners. The first owner turned him down. The second turned him down. So did the third. And the fourth. But he persevered and worked hard. He was rejected over 1,009 times before one finally agreed. Over 1,009 “No’s” before he finally got one “Yes”. That’s the sort of persistence and hard work I’m talking about Of course the rest was history.
Passion Obviously, success goes hand in hand with passion. It’s really difficult to work hard and achieve success on something you hate doing because even if you do ultimately achieve success, you’re still going to be miserable. And that’s not really success.
Remember: (Hard Work + Passion) / Time = Success