Every week I constantly come across people who want to follow my entrepreneurial footsteps. Although I don’t think I have accomplished much for my age, I am always open to helping other people out.
But one thing that I have been realizing is that most of you won’t succeed because you just don’t have your head screwed on tight enough.
Here is why I think you won’t succeed:
Reality Check #1: Learn how to manage money
I recently hung out with a few young adults who are looking to grow their career. They are sharp, smart, and hard working. The problem is they don’t know how to manage their money. They’ve maxed out their credit cards and don’t have much money in their bank accounts, yet they’ll spend $150 on luxuries services.
If luxury services make you happy, by all means get them. But you shouldn’t be spending money on things like that when you have large amounts of debt. I personally didn’t indulge in luxury items until I was making over 6 figures in income.
Now I am not trying to tell you what you should or shouldn’t do with your money because at the end of the day it is your life and you should do whatever will make you happy. But if you want to succeed in business you need to learn how to manage money. If you can’t pay your bills on time, pay employees or learn how to collect checks you’ll run into a lot of cash issues. Without money you won’t be in business for long.
Reality Check #2: Don’t take opportunities for granted
Just last month I got a hair cut from a great hair stylist who seems to have more clients than she can deal with it. She wanted to expand her business and open up a decent size salon. So I offered to meet up with her and potentially invest in her idea if she could come up with a plan that made sense.
To make a long story short, I met up with her and she came unprepared. In addition to that I offered her a second chance by telling her to get back to me with a plan, but I still haven’t heard anything from her…
If she didn’t take the opportunity for granted she probably would have had the money she wanted to create the salon of her dreams. I already knew she was a good hair stylist from my friends and I knew that she would have clients as she already has more than she can deal with.
No matter whom you meet or what people offer you, don’t ever take things for granted. You never know who can help you out and what they can do for you.
Reality Check #3: Ideas are a dime a dozen
Every week I literally get a handful of people who want feedback on their business idea. These are ideas that people are passionate about, but they never execute.
For example, 6 months ago I had a gentlemen come to me who wanted to create a cloud based storage service for people who watch pornographic content. Think of it as a Dropbox, but for porn.
Although the idea sounded great, he never did anything with it. If you want to succeed, you have to execute. Things like ideas don’t matter, execution does. This is the reason why companies like Facebook, Twitter and Groupon are doing so well because they are able to execute.
Don’t waste your time telling hundreds of people your business ideas, just get out there and do it.
Reality Check #4: Communicate, communicate, and communicate some more
My generation loves to text message and use Facebook. But what they suck at compared to the other generations is responding to emails and answering phone calls.
In my experience the number one reason people miss out on an opportunity is because they are horrible at communicating. And more importantly they are horrible at communicating through the normal channels most business folks are used to… email and phone.
Make sure you are on top of things and you respond to people in a timely fashion. It will make you look great and it will help you keep your clients happy.
Reality Check #5: Emotions and business don’t mix
If you know me, you know that I am not an emotional person. Most things are either black or white to me and I always do what is best for my business even if it hurts “feelings.”
For the past few months I have been hanging out with people who are my age. I’ve realize they have a lot of unchecked emotions and drama in their lives. This in turn has made me more emotional which has started to effect my business decisions. I have started to slowly cut these emotion filled people out of my life.
If you want to succeed in the business world you have to learn how to make decisions based off of logic and not emotion. It’s not always going to be easy, but it’s what you have to do to make wise decisions. If for some reason you aren’t able to think straight: don’t make any decisions. Sleep on your emotions until you have a logical answer or get some guidance from a peer.
Reality Check #6: F may come before W, but Work comes before Fun
Who doesn’t want to have fun? right? I know I do, but you need to learn to only have fun after all of your work is done. For example I haven’t taken a vacation in 10 years because I need to continually work on my start-up.
Don’t get me wrong, I have fun, but I always put work ahead of having fun. It sounds easy when you are making a decent chunk of change, but at the beginning it ends up being a bit difficult because you won’t be making heaps of cash.
If you can learn to put work ahead of having fun, you’ll do well in life… especially if you are a hard worker. You just have to be patient as you won’t see the benefits of this in the short run.
Conclusion
Just because I’ve stated why you won’t succeed it doesn’t mean you can’t change. Everyone, including me, has flaws. Don’t get depressed or feel hopeless, do something about it!
If you are wiling to change you can succeed. You just have to learn how to spot the roadblocks in your life and solve them. And if for some reasonyou aren’t able to solve them, don’t be afraid to get help from others.
I hope you can prove me wrong! If you need help or guidance in business, don’t be afraid to leave a comment and ask for help. I promise that I’ll do my best to help you out. 
This amazing course will teach you, step by step, how to double if not triple your traffic over the next 30 days.
You forgot about working hard, most people don’t want to put int he 18 hour days 6-7/days per week required to up your odds and even then you’re not guaranteed…too many lazy Americans who only think about Tikka Masala, the unhealthiest but tastiest dish ever
Tikka Masala ftw!!
Haha, very true. Don’t know how tikka masala figures into this but sure..
Tikka masala is for fat lazy americans, not true hard workers, duh!
A healthy bowl of Gulab Jamun is for fat lazy Americans. You know that, Tim!
hahahahah got it!
I like Tikka Masal and I am not a fat lazy American
Back to the subject, you have to work a lot harder than regular people if you want to be successful. Many people think that success will come alone but that isn’t going to happen. We are the ones that make success coming.
Yes, right on point. Hard work is the name of the game
Let’s try not to forget… It’s only hard work if you don’t LOVE what you’re doing. If you DO you will never work a day in your life. I prefer that route.
However, you need to remember that, even if you love your job, every day is not going to be fun. Too many people want the fun parts of the job, but get discouraged by the ‘scut work’ that is part of every project.
Yes, you have to work hard, but it is very important to don’t waste all your energy in something, that won’t lead you anywhere.
Off: What is Tikka Masala?
Hi Neil,
I agree with most of what you said, and I think after starting my own venture I’ve been having to do a lot of the things that you mentioned in this post just now. But there’s one problem that I’ve been running into lately that maybe you could comment on?
By nature, people are emotional creatures and don’t tend to always make decisions based on rational thinking. Engineers tend to look at the specs of things before making a decision but this is not true for the vast majority of people out there. Lets say, you could get cheaper items that does the same thing as most Apple products do, but Apple is more successful because they have a powerful narrative (Think different, be creative, etc.) that people can rally behind. This helps to boost sales as well as keep employees inspired and motivated.
Any thoughts on how to balance these kinds of things with the necessity for running your business based on sound rationality? I work in a pretty amorphous field (music) so it’s been difficult for me to figure out how I can run things without being perceived as some kind of logical robot — feelings can’t always be the basis of making decisions, but I think it’s necessary to at least take these things into account.
I think the point I was driving at is to not let feelings overpower logic. Feelings are natural, and essential. Heck, my feelings and gut emotions allow me to capitalize on deals and opportunities. When it comes down to it though, logic is my last filter before I make a grand decision. Hope that helps..
I agree again — mostly I was wondering if you had any tricks for getting people on the same page when you make these types of decisions. Especially when you’re working with people of exceptional talent, cutting people off isn’t always a possibility.
I see where you’re coming from on the music side but…
cutting people off is always a possibility.
How much it will effect you or how long it will take to replace that certain someone is definitely a factor but cutting people off is always a possibility.
There tends to be a correlation between people who can keep their emotions in check and success. Well at least in my experience
With success also comes a greater responsibility. When you are successful people know about you, they listen to what you say, what you do and you always have to be careful about these things. I think this is why there is a correlation between emotions and success.
don’t worry about it. musicians will never be rich anyway
Hi Neil,
I’m a french entrepreneur, just finished my studies in ESSEC business school.
I read your article, after seeing the so funny picture on the top on another website, I clicked on it and found this page.
The first though you are exposing in #1, 2, 3 and 4 are pretty obvious, but well resumed.
Then, how could you say that an emotional person couldn’t succeed in business ? You seems to be this kind of person preferring to make their profit grow whatever the cost could be.
I mean, your way of thinking seems to be just focused about your personality. There is a lot of different persons from you probably succeeding far away more than you could ever dream. And these persons may be full of empathy. I hate the way you are affirming that persons with empathy won’t succeed in business. What are your sources to affirm something like this ?
To finish, about the #6 did you ever though about the fact that some people could have FUN in the same time they are WORKING ? Some people are needing to have fun to be so creative, think about artists…
Your experience seems to be very interesting but please don’t afk to people to CHANGE, because each one is different and I would be the first one to not want to look like you… And I still believe in my potential future success.
You should change the title of this article and put “6 reasons why I (me myself and I) won’t succeed.
Best regards,
F
I completely agree with what F said… couldn’t have said it better myself……..
Hello F,
What Neil is saying, I believe, is that in a professional environment there’s no time and space for empathy-may I add, when it exceeds its limits. Mixing business with emotions could be a key destructive element for the business. If someone at work keeps failing doing his\her job, always cries about it, I’d give them a chance or 2, but after that they’re definitely sent north no matter what. 2, too much emotions can definitely affect your judgement and decisions. In a world full of sharks you should always be all together and prepared for the worst. That is someone I’d pay so much respect for because after all, he’s a human too, and he’s jeopardizing his own emotions for a great cause… SUCCESS! Every human has their own choice of how to live but I personally respect logical people better, although they could be more dull in my humble opinion
May I add, about the fun part, I believe Neil means that its preferred to postpone your vacation to the Bahamas till your work is done. Work comes first. Keep it as your first priority and fun shall follow. He doesn’t mean that you should beat yourself everytime you laugh at work..obviously! >.>
no holiday in 10 years…
i consider myself on holiday from 1st of January until the 31st on December.
Best wishes,
P
i’ve had so many ideas. Ideas on electronics, mobile phones and etc. The only thing is i don’t know how to make electronics. So how?
Learn the trade, or network with people who know how to make electronics.
Network and coop share. Find a group of “artists” who are doing what you want to know more about, in this case electronics, and work with them in their space. Also visit libraries, info sites using terms you want and start. Otherwise you are going to fail or just produce drawings of concepts. If you can, find copies of “Make” magazines and look for stuff on electronics. Always experimental stuff on everything in it. And don’t be put off when you see 14 year olds doing what you want to do. Get in touch with them. They are too young and inexprienced to know they will “fail”. As I always say, It is so simple, only a child can do it. Cheers.
If you have an idea look for the right people to help you implement it. Everything depends on taking action. There is no point in having an idea if you don’t do anything about it.
Start researching who can make electronics. If your idea is a good one, you will be able to pitch your idea and attain some good investors.
Thanks for helping out
I guess I’ll have to research first and then move on from there. Thank you Ylli. Wish me luck.
Research is always first in my book, I find it, the key aspect before I make moves.
He has a good point. If you have an idea and you aren’t able to put in practice by yourself go get some help. Don’t be shy to ask for help but try to ask only the right people.
It seem that we also have a tendency to invest in everyone but ourselves. We may slave away at our jobs and bring great value to our place of employment but, like you said, dont implement our own ideas. Great tips, Thanks.
I agree with all of the post, however working for 10 years non-stop is not good in a sense, however since you have stated previously that it does not feel like work to you then keep going! I will be taking the great advice under ideas are a dime a dozen into consideration, you should hopefully see my website up fully launched and generating money within 6-8 months. I hope I stay true to my word.
Good Luck! Let me know how it works out …
You’re giving advice like an expert, but your start-up is still so shaky after ten years of uninterrupted work that you still can’t leave for a badly needed 10 day vacation. Sheesh.
Wow if you surround yourself with people who are moving and shaking (making things happen) they’ll inspire you too.. That’s real,because I’m a loner and don’t really know personally or run into people who are making things happen but reading blogs like yours and others I’m launching my business this month!!! Guys like you have taught me a lot,Thank You!! And Neil do you think we can get a day in the life video!!! Nothing too in depth lol
That’s great, best of luck to you. I will see what I can do on the video front haha
You haven’t told us what kind of business you are starting. Anyway, good luck to you. I hope you will be able to keep your mood even when things don’t go how you want.
Great tips. I will retweet. One of the comments was about emotion. Don’t be mistaken with regards to emotion in that you must have passion for what you do. But the less emotion you bring into your leadership, management, the less you show in investor meetings, the better. It’s not always easy, but it can hurt progress, and often has repercussions in a number of ways.
Entrepreneurs always have the challenge of balancing a lot of different challenges simultaneously. The question is whether or not you’re good at doing this, if your timing is right, and whether or not your product or service is a competitive offering. Most, in my experience, do not have the ability to stay in the game, to handle the stress, and the numerous challenges running a business involves. But for those who want it bad enough, surround yourself with advisors, good clients, good employees & contractors, and potential investors and you will work harder & smarter.
I completely agree. Emotions are great if they are checked. Having great people around you definitely allows you to keep your emotions at bay when making tough business decisions.
Another great post, Neil. Thanks!
I think you’re absolutely correct about #3. Ideas are dime a dozen, and unless you take action, nothing will happen.
I “wasted” so many ideas before I finally took action on an idea that didn’t seem that great at first. I was just tired on being inactive. I think action and execution are more important than an idea.
Thanks again for awesome content!
Glad you enjoyed it. Capitalize on your idea, and you won’t regret it. Turn that dime into a dollar coin
1 and 6, they just bug me. Either spending money the wrong way, or saying no to friends who wanna hang. I think these might be life long struggles for me…lets hope not.
You just need to practice self control and test your will. Good luck!
Easier said than done.
Great post Neil,
I always admire the way you write the posts and really loved all the points and the last one is so good that most of us should think about it and get going with our work or passion.
Thanks for the kind words. Glad you enjoyed the post. Cheers!
Emotions. What you said is really true. We become subjective in our decisions when emotion is involved. Being sentimental has no space in business decision making because more often than not, we tend to forget to stay objective at all times.
But unlike you, I don’t go away from my emotional friends. I just make sure that emotions don’t get in the way when I make decisions.
-Cesar-
That’s awesome. I wish I had that liberty, I work so much that I cannot afford to have any distractions.
Well shes dead… so the zombie look sort of appropriate…
I think the trick is, if your going to spend a fortune on luxury items, make sure the guy you screwed out of a small fortune is not in the same room as your luxury items.
Haha, thanks for the advice.
Hi Niel,
A very good and almost complete list, I have some things I work for;
Get yourself a good network around you,
count on each business,
Stay organized on the economy,
Recognize risk – avoid “bad luck”,
Focus – get “tunnel vision,”
Listening to customers and have fun while you work.
Great bullet points. You should write a blog post on it, sounds like a great draft
I missed one more important reason: You ask other people’s opinions too often, and that means you don’t believe in yourself.
I have a comment on your point that “I haven’t taken a vacation in 10 years because I need to continually work on my startup.”
After a few months (maybe years) of starting a company, I believe entrepreneurs reach a point where they become incredibly passionate about their work; so far that it no longer seems like work. Their greatest satisfaction comes from their efforts of building a sustainable business.
I’m sure you’ve reached this point.
Onlookers will see the person as a recluse and strange for not following the typical “work-life” balance.
I remember Scott McNealy saying something to the effect that he would get bored during a conversation if it didn’t include Sun Microsystems within 15-2o minutes.
I feel the same way with my company, micello. In the back of my mind, I’m always doing an opportunity cost between having fun at my company versus doing something else.
- Ankit Agarwal
That’s a great way to put everything into perspective. I definitely agree and I can relate to the story. Thanks for the insight
You’re hard on your readers, but you’re right. I read some time ago, an year or so, I’m totally sorry for not remembering where exactly, it was a bullet post type with “top bloggers” spending their free time, where a lot of people said they don’t really have much of it. You said something like you work 25 hrs per day, every day of the week, which was very appropriate, because the other guys said more or less the same, but they actually were promoting shit on their professional blogs, more on the lines of “the four hrs work week”. You’re good.
Thanks, glad you appreciate the method. I only use it motivate others to work hard and succeed.
Great post, I especially like #6.. you know what they say, you need to grind to shine!
I like that quote, mind if I use it
? Grind to shine..nice
Hello Neil Patel,
Communication is the best way to get success because without communication you can’t find the suitable source for your business. Communication always open new doors.
Communication definitely is a powerful tool.
Hi Neil,
I want to start-up a small online business but I don’t what to do? How to start? If my business-idea will work? And to be honest I think I need a mentor who will shop me the ropes and take me under his wing. The only problem is I live in the UK, so can you mentor me?
Sure, just take the time to read my blog and sign up for any newsletters. I usually put a lot of tips in the blogs, and I respond to comments regularly.
Neil you’re a star.
As you write: “From my experience the number 1 reason people miss out on opportunities is because they aren’t good at communicating. And more importantly they aren’t good at communicating through the normal channels most business folks are used to… email and phone.”
I agree with you e.g. it’s amazing how many tens of thousands of dollars I’ve seen geeks lose simply simply because they want to hide behind their computers and are not willing to pick up the phone to get things done.
You have to communicate to succeed. It’s as simple as that!
Yes Neil, because of these all reasons we were left behind, but i already add these things into my life and connect more appropriate person for lifting me up, i am looking for a man who can lift my skills and me too BTW another good post thank you man.
Glad you enjoyed it, best of luck to you!
Thank you
and what about Quora invitation :-/
I don’t know about the emotions thing. I get your point, but I think succeeding at business is actually a very emotional process. You have to understand your customer deeply and that doesn’t come through logic. I think the term drama is better than emotion in this case.
When I said emotion I was driving at those who are overly emotional. Emotions are unavoidable it’s how we deal with them that matters. I agree with your point though, drama is the worst!
I especially like #3. I see it on a regular basis in my web development classes. People call me about my classes with this great, can’t fail, business they are going to start. They want me to get all excited with them – emotion and drama. Some even want me to put in “sweat equity” and build their site for them. The first class generally weeds them out.
You sound like an awesome professor! Keep up the good work
Great article Neil. I just tweeted how I don’t owe a penny to anyone anywhere including the banks, and then found this article in my email right after. I’m glad someone worthwhile agrees you’ll get nowhere lugging pointless debts behind you.
And yes, communication skills are dwindling amongst our generation, even as Social Media increases. Oh the irony.
It is very ironic. I think the number of avenues available to communicate has eroded the very fabric of basic communicaiton!
Great call and writing. This is also a good handy checklist to wake up to
Thanks Neil!
Glad you enjoyed it. Thanks!
Hi Neil,
thanks for the reminder. I started several websites to get some income & came to realize I failed to follow through to the end for most of them. Starting a website is easy, getting things going regularly after that, marketing, analytics (all web companies are data companies) & pushing it to the finish line is my undoing. Part of the problem is distraction or like you say, fun things. I realize for me, working alone wearing multiple hats from idea, execution & other work stuff take me off track. For the coming project I had in mind, I decided to have to do list, time budgets (never did this previously) & fighting off urges to do “fun” things. Hopefully, this will end with better results this time. I do realize it is all about execution and maybe some of us (like me) may need a short course in project management
I think that’s a great idea. Project management is a lost art. It’s a shame because it can be taught. I like your suggestion. I will try to get a blog post out about project management. Thanks!
Oh, by the way, I totally get it when someone more successful wants to lend a hand. I’ve not put “myself out there enough” & get in touch with people who can help.
You should. I did it early on and it was immensely beneficial.
Hi
I am a mature actor, retrained mid life. Before this i was a teacher. The whole idea of sales is new to me, so i’m trying to get my head around branding and selling myself.
Any suggestions- particularly on the branding! I recently read an article advising actors that this means working towards a situation where you are seen as the only solution to casting problem!
You can market yourself just like you can a product. In all honestly, marketing a product is basically market one’s self. Hope that helps..
Hello Neil,
I like to read all your reality checks.. I am also busy with a business.. It just gave me a push in the right direction again, because staying focused is also important for me. Just want to DO IT as you say… Thanks
Get it done! Best of luck
I like the most is execute, execute, execute. Thanks for your inspiring article:-)
Thanks, glad you enjoyed it
Very well said . I think you have followed all of them. Sometimes people think that they have it all when stuff comes to them. When something comes easy (even an opportunity), its not valued much. Sad but true.
Definitely! People need to be grateful for the opportunities that come their way.
good one..
Thanks!
Great post. I agree with everything, except for #6. Work is very important, but so is fun because what’s the point if you’re not having fun and enjoying your successes by vacation and travel.
Really like point #2 though. When opportunities present themselves, buckle down and be ready to take advantage of them. They’re not always sitting right there.
Thanks. Appreciate the constructive feedback. Good luck!
If you don’t know how to take advantage of opportunities in life you are in deep trouble. The ability to adapt and to seize the moment is the way to success.
How Successful People Communicate – Example
Google’s web analytics evangelist, Avinash Kaushik, has a blog. When I’ve placed a comment there:
Within a couple of hours he replies to my comment, mentioning me by name.
Ten minutes later, I receive an email from him where he responds to my comment in a more personalized way.
He may not send the email to everyone who comments, but he replies in blog comments to almost everyone, specifically mentioning the person by name.
He’s a big shot at Google and commonly gets 50 of 100 comments on each weekly blog post, yet if you take the time to comment, he takes the time to communicate back.
I think that is a great example. I do the same thing with my blog, and it really spills over into every facet of my life. Communication is essential!
Every time message pops on my mail that you’ve updated your blog,it kinda makes me rush to read it. Your blog is very motivating especially this post. I’ve been lately partying too much lately and i think i have to think twice on money matters. Thanks a lot man!
Party less and buckle down!
Your article is AWESOME!! As an entrepreneur who found great success early in her career, there were a few of these that I didn’t dial into as I should have. Now mid-50′s, I have lost my business!! But… have opportunities I can take advantage of to move forward! This was a great reminder of what I need to keep in the foreground… once a lesson is learned, I really don’t like to have to re-learn it over and over!
Thanks!!
Glad you could relate to the stories written here. Experience is the best educator .
I agree with everything you said, I think all of us need to be prepared and plan long-term…it just doesn’t happen because we decide not to execute.
Definitely, execution and planning is key!
absolutely right dear
Thanks
“Reality Check #6: F may come before W, but work comes before fun”
If F stands for family then I am forced to take vacations. I am married …..
If you are married then yes, you do have obligations!
Man am I going to fail? : (
No, just buckle down and practice self restraint
“Don’t waste your time telling hundreds of people your business ideas, just get out there and do it.”
Soo true, many of the time we just talk talk and talk, and when it comes to actions we are laid back. Love this line.
Glad you enjoyed it. I think it is very poignant.
Neil, it’s time for a vacation. Seriously.
Haha, not now… thanks for the suggestion though
Hiya Neil,
I was a little worried to read this at first, but I ended up really enjoying these reminders about how success is made. I especially enjoyed the tips about execution and emotions. Those are two things I personally struggle with! In your opinion, what holds most people back from acting on their ideas and following up on opportunities?
Sincerely,
Josh
Everything I have written here highlights what holds people back from reaching their potential.
id like to speak to an investor on an idea my wife and i have… can you point me in the right direction?
Network and find out who the investors are your market. Email if you need specifics…
Hi Neil
I’m forming a startup to begin work on a prototype website. I’m having trouble finding awesome candidates to develop my idea, because i’m not a web developer. I’m sure it will come soon, but damn there’s so many job sites out there, where do the web developer guys go to find jobs. Are there guys out there that only want to work at a startup?
How much info are you willing to share with your co-workers about your business and the idea. Do you make everyone sign an NDA? Should i break the process down for them and give it to them in pieces and hope that adding thngs later will not be a problem. Does crazy egg ever release info about sites? Like which sites have the most “clicks” per page? I’m guessing the UI would be better, because more clicks would signify that people spend more time using it? I wonder what those sights would be.
My associate and I met with a lawyer yesterday to setup a company. We foresee getting funding in the future, but for now because of taxes an LLC seems like it maybe a better option for us. If further down the road an investor wants us to be a C-Corp we can change and do that. Thoughts?
How far into your startup are you looking for a CFO/CEO ? Or is this a change VC will encourage?
That’s about all i can think of right now, i may have more later haha.
Thanks for your very informative posts
You have so many great questions. I could write a blog post about them all haha. Email me so we can discuss neil@neilpatel.com
I am impressed by your statement “I don’t think I have accomplished much for my age.” A touch of humility in our age of self-promotion is refreshing. It is also a correct self-assessment. While you are certainly much more successful than I am, compared to what, say, Richard Branson or Steve Jobs had achieved when they were your age, you don’t even register on the radar screen.
As far as this particular post’s topic is concerned, some people just aren’t cut for entrepreneurship. It takes a whole set of character qualities that some people just don’t have. Moreover, an affluent society like ours spoils most of us, blunting the drive to succeed. This is the reason a disproportionately high ratio of successful businesses are created by immigrants.
Oh, Neil, I have to congratulate you on greatly improving your spelling and grammar. Some of your earlier posts were full of basic errors.
Keep it up, I love your blog! More than that, I need it for SEO ideas.
I spend more time writing my blogs and editing now. Thanks for reading my blogs. Much appreciated
Great post! As someone who has owned a successful (read: profitable) business for 14 years, I think execution is the most important. Admittedly, sometimes I would executive too soon (for example, jumping on a new technology and applying that to my customer solutions before my customers were ready for those high-tech solutions). But I have never regretted acting on something; I have only regretted the few times that I did not act, and someone else passed me up with an idea that I had years prior.
The only other thing I would add is this: As part of your initial plan, have an exit strategy. This is especially important if you are starting a coaching or consulting business. So many people come to me who are coaches, consultants or trainers and tell me they want to build their brand so that their name alone will eventually draw business. But my question is: what happens when you either want to retire, or want to sell the business? If your business is based solely around YOUR name and brand, who would want to buy it if you are the main attraction?
This became very apparent to me when, a few years ago, I decided to transition all of my seminar content into an online university, rather than having it be classroom instructor-led. I did this to mirror the changes in the economy, and the hesitation of organizations to pay travel expenses for their employees to attend seminars. Last July, the CEO of a large HR consulting firm approached me about buying the online university, all of its content, all of its paying subscribers, and putting his company’s brand on the university so that he could sell the content to his clients. That never would have happened if my company would have been “Vicki’s seminars” or whatever. (And yes, I did sell, and am in the process of launching a new business.)
Looking forward to your future posts!
If your brand is centered around you and sells, then it will just as likely sell around someone else. The product just needs to be spectacular. People think branding will sell a product. The product sells itself the branding helps spread the word.
Extremely direct and harsh to some extent, but it is an important reminder nonetheless. Kind of scary to see myself doing many of those things but its fortunate reminders like this that help me take account of my current habits in order to change them for the better. Cheers!
Glad you enjoyed the article, thanks!
Hye Neil, reality check #3 hits me. I have tons of ideas especially im living in a country where web tech just taking off. Loads of untapped market i can think of and not many aware of this but i dont have much resources to execute (maybe because im 22).
The sky is the limit, good luck!
hi Niel,
i m a Techie by profession did engineering, from childhood i m passionate about entrepreneurship and i want to my own boss , i dont want to work under anyone, but parents forced to do wat i hate most ,Bcoz the situation was lik that, i have enough confidence in me, as my friends finds me that i m a risk taker and have very good organizing skills,bcoz i have done some works lik that, from past 2 years i m just wasting my potential here in my industry, i dont have any friends who were passionate about entrepreneurship,
After reading your posts , i wanted to ask you how can i make into entrepreneurship road, please help me out,
I say read up on the market. Figure out what product you want to sell, you need a product and an idea before you can have a passion to sell anything.
Dear Neil
Its great to learn and get inspired by your blog. Also its a very positive platform.
But, this time I didnt like your heading i.e.
6 Reasons You Won’t Succeed. I guess “6 roadblocks to Success” or “6 Steps to avoid failure” could have been better.
(in my opinion)
However, its an interesting article.
Thanks for the constructive feedback. I think the title works because the content is worthwhile…
Hey Neil,
How about a “download printable version” for all your pieces….makes it easier to download and store, rather than select, copy on a word file, and save.
Regards,
Hmm…have you tried google docs? It might let you copy and past a printable copy
Hi Neil
hello
Hi Neil,
Great post. I know what you mean about the hairdresser story – I meet loads of people who say they want to expand but in reality they are comfortable where they are – so I don’t think it’s so much about passing up opportunity as that they just don’t ahve the same aspirations that you might or I in their situation. I’ve come to the conclusion it’s a rare few of us who have really big ambitions!
On the fun tho – I do have some non-negotiables (or at least fairly firm groundrules lol!) around time off.
All the best,
Cathy
I understand that point. However, if someone commits to meeting and following through they should at least show some due diligence in the endeavor. Cheers
Neil,
The greatest advice my father gave me was, you can either “play now and pay later” or “pay now and play later”. Great post!
I live by that credo as well! Always have.
Thanks for the great post. The “do not mix business and emotions” stood right out for me. Too all your readers out there. IT DOES NOT WORK! You cannot let your emotions effect your business. It is really hard to break away from this. My favourite employee robbed my bank (no guns involved and the the police report stated he was the most polite bank robber lol)….how is that one for starters. I must say, I saw the good in everyone and basically ran a social service agency instead of a business. If you are doing this then get into that career instead. Personally, I decided to stay with my business. It was really hard to change and everyday I work on keeping my emotions in check. Now I am so ready to move forward that it is getting easier and easier to say goodbye to the drama…at least the unnecessary drama……thanks so much, Sheryl
Glad you could relate to the post. It is common sense but often times people overlook the obvious lesson. Emotions and business do not mix well, at all!
People sometimes ask me how I could make more money on any given day than they do at their good paying jobs. I usually answer with “First, you work for someone else and second: I’m still working while you are watching Lost”.
Reality check #6 is where most people I know end up failing. I refuse to quit until I succeed and will work 18 hours a day until I do so.
Great post Neil, thank you.
Glad you enjoyed it, keep up that hard work!
People are wondering how are others making so much money. It is simple. They work harder! Like you said some people enjoy watching Lost while others enjoy making money
Hey Neal,
hope you are getting ready for summer. I know I am.
Just wanted to say you have done it again in this post. Kept a simple approach to success- very black and white and just wanted to say thanks again for the quick tips. All the best for a great summer!
Justin
Thanks, have a great summer as well.
Great post.
The reasons resonant with me, especially your encouraging
advise on change.
Thanks
Myron
A beautiful and inspiring article ! Thank you, Neil – suddenly I feel really motivated, refocused and refreshed !
Glad I could help
hey neil that was a great article, i wanted to help out a fellow artist/friend of mine who has alot of skills and a great track record, he has his own record label, and is very hard working , i know he gonna make it famous 1 day , please take the time to check him out his name is viresh patel from toronto, canada aka Kat Eyez and he sings reggae music, can i get your personel opinon on his music ,also can i get your e-mail so i can send you more info on him thanks-Frankie
Sure neil@neilpatel.com
Its always refreshing to read your post. Although i disagree with some of your points, still useful. Thanks!!!
I am lost about the Gulab Jamun and the Tikka Masala. but you are right on with this post. I just yesterday had a friend of mine tell me his partner stole $1,000.00 dollars and signed his name on a check. Not only that but it has happened before. I told him he has got to take the emotion out of and it has been driving him down for quite some time now. Hopefully he will take my advice and I am forwarding this to him.
Yeah, hopefully you can help your friend out.
Just had him read the article, he knows what he needs to do. This was just all too funny, cause he owns a tattoo shop back home, so the graphic was not only priceless but so very applicable. I think its part of the reason he humored me and read it.
Just wondering why my previous post isn’t on here anymore. Is there any comment guidelines or rules that I overstepped?
Not sure, I have spam filters..maybe there was something that they construed as spam. Sorry about that, well at least you are here now
You hit me on point 3 for good. Thank Neil!
Hi
No matter how good or big your idea is, you would not be just discover without communicate and without making W before F
Reality- I just love that
Thanks, glad you enjoyed that bit
Fun is good for health.
Thanks, Neil.
Definitely.
Neil,
You keep giving great advice– thank you!
You mentioned avoiding these emotion-filled people. How do you best identify them in the interview process– and if they have snuck through the process, how do you quietly get rid of them?
Honestly, it’s really hard. Everyone is on their best behavior during the interview process. I would suggest going through multiple interviews and trying to get an idea of the character of the individual. It’s tough, I’ll admit it.
Hi Neil,
I agree with your points. Work before fun is what I think is a big differenciator between success and failure. The next one for me is like you said, execution.
10 years without vacation, that’s impressive!
I’d say it’s necessary. There many others who work hard labor jobs who have never taken a vacation in their life. Much praise to them.
My website is about a year old and I write on health, fitness, diseases, etc, providing medical knowledge for the non medical people. I have written about 300 posts so far and the content, without sounding conceited, is fairly okay.
I get about 600 to 700 page views everyday which drops by 50% on weekends.
I post once a week on the social media and bookmarking sites. I have also commented on other blogs and forums. But this has not helped me much by way of traffic. Just wondering if you could give me some advice to get some decent traffic.
I have read “A day in the life of Neil Patel” and realized that you do give time to help others out. So just thought that i give you a shout.
Thanx,
Sanjiv.
Awesome, sounds like you have a successful blog. Keep up the good work
Hey,
I’m a young guy with business in my blood. I randomly came across this blog and bookmarked it because it made to much sense to ignore. I made tens of thousands at 14 , and racked up a pile of awards by 17. I’m now 18 and I’v spent the last 8 months developing what I believe will be the next big thing in it’s market with some talented web designers and graduates.
I’m at a stage now where I want to implement my marketing campaign but getting an angel investor seems increasingly hard. I’m not going to give up, I’l keep going till I’m arrested for harrasment but I wan’t to know if I’m going about it the right way… do you have any blog entries about this ?
Thank you for being everything I aspire to be, your a huge inspiration.
I think you are doing all the right things. Network, network, network!
Hello. I love this site. I visit this site everyday of the week. Very helpful tips and I love to read peoples responses. I have a site that I found which can help in your quest. Here it is http://www.kickstarter.com/
Also, maybe you can share your ideas with rest of the readers, I am always eager to invest my money to make me more money, maybe I can invest some of my capital in your idea, if you have vision and Business Plan. Thank you all!!
Hey Neil
Really enjoyed this, and your recent convo at http://namesake.com, having learned this during my trial by fire during the dot com bubble, also wanted to share some things to remember during this most recent bubble.
Bubbles end, bet on it; when the bubble bursts is when the true revenue potentials come into play, though everyone is scared because the easy money, and longer plans to implement profitability no longer fly. Like you say, you’ve got to execute.
Don’t follow the crowd, follow the revenue you can generate. A business without revenue is a hobby, and even though it’s hard at first, don’t just project how much money you can make down the road, ask yourself how you’ll get to grocery money – break even money to pay for the business, yourself, and your Team if applicable – and stop relying on long term visions of millions.
5 Figures leads to 6 figures, 6 to 7 figures, and so on…while you may get a radical growth of revenue, most often you are planting seeds, watering the crops, putting in a bit of manure, and growing a business. Plan on it, and don’t expect a harvest, create one.
Finally, you are only as good as your last deal. Short term splashes of revenue need to lead to consistent, long term customer value. If your deal only creates flashes of revenue, look at your conversion and buying cycles, and make sure you are getting people to spend more than once with your business.
After all, one purchase is a conversion, 2 or more is a sign of trust, and those with the longer term customers win…it’s called loyalty and trust, the only things other businesses cannot simply replicate…what makes you unique and relevant to your customer, makes your business last.
And of course, if you are not solving a problem, you are not relevent. Get relevant and fall in love with solving the problem, not with your product or service.
Great points. I like how you organized them well, you sound like an awesome blogger to me
Quote of the day: “Don’t waste your time telling hundreds of people your business ideas, just get out there and do it” – Neil Patel
Totally 100% Agree with this..
It holds true. Go out there and make it happen!
Hi Neil
I can vouch for this post and what you have said. I definately know the art of managing money. Have known the basics of money management for many years. Its actually quite simple.
I’ve mention this before in one of your other posts. But just for those entrepreneurs who may not have got it yet, This is how it is.
1. Live on less than you earn. Money can be an obedient servant but a harsh taskmaster. Live within your means.
2. Distinguish between needs and wants.Why max your credit card when its not worth the stress you will soon encounter. Hang around Salvation Army second hand opportunity shops. I have found many great bargains worth only $5.00, $6.00. Forget about the luxeries until you have sufficient money saved in your bank account.
3. Develop a shoe string budget and keep to it. Its not worth spending beyond your means.
4. Save your money and leave it in the bank. Dont spend money everyday buying lunch from a lunch bar. Thats money out of your pocket into someone elses.
3. Forsee the future and make wise money management choices before going there.
4. Be honest to the max in all your financial affairs. Honesty is the best policy.
I love an enjoy work. My blog is full of comments from honest people. I go gangbusters every day trying to catch up to reply back.
There are many opportunities waiting out there for those positive entrepreneurs waiting patiently for the next gold mine to drop in there lap. It comes when there is focus, smart and hard work. The harder I work, the more luck I get.
I’ve been communicating to people for over 20 years. Every new customer opens up a new experience.
Thanks again Neil for the reminders
Richard
Great input as always. Thanks Richard
I found Money Managing and Communications, these two are most difficult and challenging thing in business, for communication we can hire some persona but for money management we have to do our own. specially it become difficult while starting new business or when client make delay in payment that time employees salary and other bills payment looks like a stone eating.
haha great analogies. I agree it’s tough sometimes.
Hi Neil.
I appreciate this post greatly, and my experience agrees with you on many points…but definitely not one: Emotions and Business don’t mix.
More than anything, I think this is a semantic issue. If someone gets called ‘emotional’, generally this is a criticism expressing that the person is emotionally unstable. Their emotions get the best of them, as you express here: ‘they have a lot of unchecked emotions and drama in their lives. ‘
You say, ‘learn to make decisions based off of logic and not emotions’.
Yes, a good business person makes decisions based off of logic, BUT they energize and make these decisions real through mastered, focused, and potent emotional energy.
Take a close look at the self-made business moguls throughout history; though often appearing subdued on the outside, inwardly they have full or near-full control of their emotional energy. They know how to cultivate it, they know how to control it, and they know how to direct it. They understand the essential role of emotion in the actualizing of ideas.
Some of the most important and potent emotions in business are: charisma, inspiration, motivation, courage, perseverance, and passion.
By themselves (without clear seeing/wisdom), these emotions will burn many bridges and not necessarily lead to any prosperity. But blended together skillfully, a most potent alchemy is formed that allows for decisive, penetrative, and effective action.
You say that you are not an emotional person. I am willing to bet that you indeed use focused and skillful emotions as a part of your business strategy- just not in the decision process. Again, this may ultimately be an issue of semantics.
I know I am taking a hard line with this, but it is one of my areas of expertise. I would love to dialogue with you on this.
And, gratitude for sharing your hard-won insights.
Warmly,
Eka
Eka, love the insights…very interesting. We definitely need a dialogue, would love to bounce ideas off you and have a fruitful argument. Thanks!
It’s great to have such ideas and thoughts.
Coming down, I was a bit shocked when I heard you haven’t taken a vacation for the past 1o years… I’d do with less money than work like that.
Granted, more work means more money. But I see many entrepreneurs spending hours for their business but very less for their family.
I am young so I have the privilege and opportunity
I am a college student and right now I’m in the 3rd year of my 4 year programme. I have some business ideas in mind but the problem is capital, I can’t even do what I want to do because I am unemployed and don’t have a constant income, how do I go about finding capital or at least how do I manage to make maximum utilisation of the little money I get? I really want to at least establish a small business before I go for my 4th year, the entrepreneur inside me is crying to be let out but I can’t seem to find a way. Please help me with some ideas is there any hope for me to achieve what I want??!
Find your passion and chase it. If you chase money you will never reach that level of contentment. I suggest you find a niche and study the hell out of it..
I just love a straight-up dose of a reality check from someone who has walked the talk. Great read. Great coaching. It takes bare-knuckles work to manifest ideas/dreams into real life.
Thanks for the kind words. Good luck!
Might also add couple things into the mix: setting goals – without goals your business won’t go anywhere, working hard and smart – too many of us work hard but see little or no return, be consistent – it is numbers game before you become successful and achieve something you will fail, so go out and fail as much as you can and learn from your mistakes. There are literally gazillion things and obstacles that will try to prevent you from succeeding but as long as you develop habit to solve and overcome them you’ll be good.
Good tips. Thanks for the advice!
Nice Tips Neil! Thanks!
Especially like “Reality Check #3: Ideas are a dime a dozen”. So true! Like Thomas Edison said, “Genius is 1% inspiration and 99% perspiration.”
One thing I would also add to the list is “Fear of Failure”. What do you think?
I think a big reason we don’t succeed and execute on our ideas, is because of a fear of failure. We’re scared of the potential risks involved, but still want to achieve the same level of success as the Facebooks, Googles, Apples, etc. of the world.
But, we have to remind ourself that failure is just a part of the process and has its benefits as a great teacher.
Easier said than done, I know – but still, it’s something we need to be reminded of every now and then!
Cheers!
Parin
Glad you found them helpful. Yes, Edison knew a thing or two about hustling his ideas.
The hairdresser might have been too scared to execute on her dream. I think one of the big tips missing here is “overcome fear with reason”. Even if you’re afraid of something if the cost/benefit analysis is good, ignore the fear and do it. Interpret fear as “look twice” rather than “stop!”.
Definitely, overcoming fear is something we should all do to reap the benefits of our hard work and courage.
You literally get a handful of people? Wow, they must be very small people.
haha, funny!
haha thats good stuff!
Glad you enjoyed it
Great post Neil. Work definitely comes before fun, especially in startup mode. This is why I believe it is very important to make sure the people you work with are people you enjoy working with. Nothing is worse than working all day with people you don’t really enjoy being with.
I completely agree. Work isn’t work if you love what you do and who you work with!
I only one thing that Talent + Hardwork + Luck = Success.
You can’t success without the combination of these many people have talent and harwork but not Luck or some have only hardwork or few are only talented. In real terms every successful person is carring these qualities. Very good and motivating post @Neil Patel Thanks for this.
Glad you enjoyed it. Your equation is great, might have to use it sometime
my philosophy in life is not to engage in business with your friends. but a few years later im here establishing our business together. though risky because of friendship being on the line, with tempers and ideas always in disagreement, it is still comforting that you trust them enough and you know that you can always talk things out. i guess you just have to pick the right friends.
Definitely have to pick the right friends. I was definitely lucky in that sense!
I’m sorry Neil, that photo is so horrible I can’t even concentrate on your words. (But i love your blog anyway!) ;^)
Hahah, it was meant to catch your eye! Thanks!
Hi Neil,
the tattoo is looking different from the real copy so its makes the lady so horrible
haha, riight?
Great tips. retweet it
Awesome
Good article, and very true.
Thanks, much appreciated
Reality Check #6: F may come before W, but Work comes before Fun
Everybody wants fun to come first but the true success is work first and fun comes right at you. This should be fixed to the minds of those who wants success. Thank you for sharing these.
ellen
Glad you enjoyed them!
If you don’t have fun while working you will not be motivated to continue doing it. Fun is something present when working because the motivation will be much bigger than.
Nice post, but #5 is often my weakness. Can’t stand to see people get hurt for my own good. I know it’s not good for business but im happy.
Thanks! Glad you found it useful .
I agree. Too many look to exploitation of others as the path to success. These people will fail, if not in business, then in life.
Reality Check #3: Ideas are a dime a dozen
AMEN, brother!
BTW – My kid could do a better tattoo than that with a toothpick and felt pen.
Hi Neil !
I agree with your points. Work before fun is what I think is a big differenciator between success and failure..
Very good post..
Thanks, great point. Good luck !
Good advice in general, every point really. I’d say that the hairdresser may have known the opportunity but not have been ‘ready’. Not everyone wants to expand, and some are scared to. I’d also say that removing emotion from business sounds good, but is hard to do if you’re a real human. It creates an imbalance, as we can’t deny that we have emotions. To this day I have a hard time reading user reviews, even though I am lucky enough that they are 90% (or more) positive. One negative review hurts my feelings. In a way, if you don’t have emotion in your business, maybe you don’t have the passion you truly need — or at least that’s what I tell myself.
You really have to differentiate work from feeling. Once you do that you will see success!
Great post, Neil! I’d like to add something to the points you’ve mentioned and that are so true. Motivation and real passion for what one is doing. And I’m not saying to mix feelings with business, just to put a piece of one’s soul into their work and there’s no doubt any hard work will look but a piece of cake. As for keeping one’s feelings out of the business, I’ve got to admit I felt into that trap and I took some issues personally, which affected my output. Yet, even mistakes contribute to our success, making us stronger and wiser.
Definitely, it is hard to do; however, with practice you can differentiate the two.
apparently the number one reason i won’t succeed is not being able to get through this poorly written article. so bbbbbbbbooooooooooooorrrrrrrrrrrrriiiiiiiiiiiiinnnnnnnnnnnggg. how do you define success anyways? your tax bracket?
Everyone is entitled to an opinion. Thanks for the constructive criticism. I define success by the hours of work and toil you put into a product or service.
Thanks for scrolling down and commenting, much appreciated!
10 years no fun , o,O? even no movies , i watch every night ,horror movie .hmm i guess i need to change :] Nice guidance Thank you :]
Haha, you have to work hard to make it!
All those things you describe are human nature, my friend. Most of us have some or all of those problems. When we are weak and give into them they grow and rule us, but it is possible to learn from them. Now, where did I put that brochure for the villa in Italy??
Haha, very true. I have no idea…
I think the best part of this article is that it goes beyond business. These reality checks, at least most of them, can be incorporated to just goals in general. Awesome article, not only does it apply to business people, but everyone in general. Great work!
Yep, it is definitely possible. I am glad you enjoyed it.
Hi Neil, I am 60 years old and I want to start a small business,I do not have cash and I do not want to borrow money from the bank. I am a real estate agent but property is not moving fast enough, but I need to start this business soon because time is running out on me. What do you think I should do my husband promise me 60.000 dollars but I have not seen it yet and I am tired of waiting. My business what I will be setting up is a christian bookstore,a spa and organic food .
I would recommend looking for investors. If you are already using social media then reach out to business people who may be willing to invest. If you aren’t using social media then I would recommend starting because if you do manage to get you businesses going then you will want to market them online.
I have been in business for years and you make some excellent points.
Glad you think so. I appreciate it coming from someone with experience.
Haha, loved that pic! Epic Fail….hahaha
LoL, yep.
#3 – from a psychological point of view, your ideas are spawned from things you are currently seeing/doing/experiencing, in part, that’s how many businesses are developed – experience a problem, spontaneously think of a way to solve it and this, get rich – so if you come up with an idea, don’t put it off for too long because it will become irrelevant and you’ll be a lot less likely to make a buck from a current demand a few months down the line when some other wise guy has had the same lightbulb ping.
Jasmine,
Thanks for the interesting information. I appreciate you sharing your thoughts from that point of view.
I think the author has a point, however I’ll take a side swipe and say that I don’t like how some people feel like they’re on top of the world with the decision making power that they have.
I understand your time is money and who knows, maybe you’re not being a dick about it. But I have a friend who’s in the exact same situation as the article author and can be bit of a hard ass macho man with people who’re trying to pitch ideas to him.
What I got from this article; “I have tons of money and you don’t. I can manage my finances, pitch deals, recognize opportunities — and you can’t. You have shit ideas and I could cure cancer if I took an afternoon to :really: think about it.”
Who allowed this shitlord to write an article ? There should be a smug advisory at the top of the post.. I imagine he will be writing an entire series of ‘Why you will suck at ____ and I won’t.’
“I haven’t taken a vacation in 10 years because I need to continually work on my start-up”
10 years to start up? I may be reading this wrong but after a decade you should be in sustainment mode with an eye towards expansion… Take the vaca and start over!
You should see how many people work hard, maybe more than you and will never get better income based on capitalism marx laws. We have so many technologies, although people have to work even more and some times with no increase their owe benefit, bat for other. Like politians and other exploitation that in nothing are differentiated that a dominated plead as in the medieval or rock age.
..mostly nonsensical capitalist babble — maybe you super entrepreneurs should all take a long break from your 18 hr days an take a long hard look at the outside world.
it´s not like technology is going to save us in the end.
humility and compassion might.
and yes…the writer comes across like a real ass… srry to say so .
Im sorry for you if you are still in start-up mode after 10 years
). You better check on that, my business is doing well after a year, and in few time im out of startup zone.
And if you’d read books from richard branson, robert sharma etc, you would know that making time for yourself is very important and affects your business directly.
Your state of spirit is the businesses state of spirit.
Exactly what I needed, someone to tell me those things that way, especially #2 and #6. I appreciate a lot the challenge and your time to answer (even tho it’s probably your secretary’s secretary) to all of these people totally unknown to you.
Thanks again, but I won’t need to prove you wrong since my results will do it by itself.
Living a life where work comes before everything else leads to a lot of regret later in life. Focusing on a single aspect of your being (which otherwise needs to be in balance) means that you miss out on everything else that a balanced mind needs to achieve peace and fulfillment.
My grandfather left a lesson for my family when on his deathbed he said that the only regret he had was working too much and not living enough. I learned this myself through the last decade of startups and realized in time that there’s a lifetime for businesses, and it only gets better with age and experience. There’s only a short window of opportunity to live, fall in love, and start a family.
The best advice in this article is the one about MONEY. I’ve never considered myself succesful until I was able to save money. Saving money goes hand-in-hand with not spending it. When starting out, it can be difficult. Having thousands of dollars and leaving it in your bank and not going out and partying can be hard. But its all about maturity. Also, when you are saving money don’t go out and brag about how much you have. I find it easier to say things like ‘Sorry I can’t afford to go out to the bar this weekend’. Friends who are bad with money will suck you dry. Remember, alcohol is a huge expense and bad financial decisions are made while drunk. I only drink at home, rather than clubs. And when I do I only spend $20 and I only drink on weekends. But by far the best decision of my life is to find a partner who is good with money. 2 people working and saving makes a joint bank account go up much faster. Also, look around. There are free activities everywhere. whether it be walking on the beach, through the forest etc. NEVER buy expensive cars as cars are a liability and will keep you poor. Cook your own food, live a more simple life and watch your savings grow. Don’t act like you have more money than you do. Live and act like you have less money. And work hard! You don’t always have to fly to another country for a holiday. Enjoy what’s around you. Look at the stars, play cards, get involved with people who arent drunks. Don’t stay indoors too much. Enjoy your home without being lazy. Fix that cupboard! walk around the block. Enjoy nature. and again….Work Hard.
now you are the kind of guy i would turn for advice to !
Debt is a potential killer; it’s stress magnified. Do whatever you have to do to get out of debt. I’m from a poor (if genteel) background, and need very little to be vaguely happy, but we never owned our house. My ambition was to get a mortgage, and I swore I’d clean toilets to maintain the payments. Well, that has been a necessity, but it wasn’t as hard as I’d imagined.
Matty above makes some great points, none greater than the ones about alcohol. Booze can make your social life appear exciting and real, but that’s an illusion. Pub- and bar-talk achieves nothing, and won’t even be remembered clearly. Get out and do something before you discuss it.
Every week you literally get a handful of people who want feedback on their business ideas? They must be very tiny people.
Well your article is pretty obvious I would have to say that what will make you successful is not so much hard work (although you can never be lazy), no vacation in 10 years… wonder how your health will be in 20 or 30 years
. Really I’ve seen more people who are sociopath are more likely to succeed in life. Kinda like in #5 but they bring it to a whole new level, it boils down to how moral are you?
When no line will ever stop you then the universe is yours.
I say this because I’ve worked for over 20 years, and have worked hard for all those years but because I don’t see the need to stomp on others at work to make me look better thus giving me the promotions. I’ve seen this so many times, people who are there for such short periods of time and use such disgusting methods (after bar hopping they bring the boss to strippers and take pictures… you know the kind the bosses wife wouldn’t appreciate…). Honestly this kind of behaviour sickens me, although it works and it is sad to see that people come here to have affirmations by other “uncertain” people to say “its okay to be mean, its just business”. Well to you all I hope the economy royally messes your dreams because you deserve it if you think there are no consequences to such behaviour… Life like all other things needs to have balance otherwise it is doomed a short existence.
PS: You may believe that you don’t harbour much emotion but it will peeks its ugly head one day and it won’t be pretty, quit deluding your self and take a brake, go somewhere quiet and peaceful and think about life, your dreams and what makes you happiness. You might find that your dreams may change when your really understand what makes you happy in life.
I think you should take a vacation. I understand the idea to work first then have fun later (after you’ve done with the work) but from time to time you should take some time off. Working too much is not a solution in the long term. This is not lazy this is common sense (at least for me). You need balance in life.
Not a fan of this article or this guys thought processs. It is because of this mentality that emotions are bad or that it combats logic that the corporate world is such an evil, ugly and disgusting place and the people in it just as bad. Logical decisions for a company can be made without treating others like shit, and without taking advantage of them. Most business people only understand money and dont understand thinking about the future, growth and good for the society. All they see is money, short term profit and how can I screw someone out of their hard work pay them less and keep it all to myself. And what is the point of working all the time if you never rest? Thats not a life, that’s called being a drone for money. Yes I have put in 18 hour days and 60 hour weeks to pay off debts and help my family. See? Logic and emotion aren’t contradictory but actually complimentary. So no I’m not lazy but as a previous poster said, balance is key. All people ever want is more money, especially those who have too much, all the rich corporate bastards who have too much take from their employees just so they can fill their greed. Its kinda sad and your mentality sort of fits that ugly world.
i feel sorry for you, your life sounds empty. good luck with the rest of your loveless materialistic life!
10 years working on your “startup” ? sounds more like flogging a dead horse to me !
Even if you work hard you still won’t be successful as long as you’re:
1) a good person with a good conscience
2) are kind and try to help people not bully them
3) are fair and never try to be manipulative or take advantage of others
4) pray and believe in God
Guaranteed that items 1-4 will ensure you’ll never be more than middle class. The upper class level of success is only for people that are the opposite with almost no exceptions.
That’s my experience.
All those motivation tips made my a working mad man…
I feel like I’m on steroids, sometimes forgetting to eat, trying to complete the todays schedule, but this has some positive sides, too
Hi Neil, My name is Dorothy; I been trying to start a non-for-profit for families impacted by the child welfare system. I am a former foster child. I am passionate, dedicated, and motivated to provide resources and information to families effect by the foster care system. My program will consist of advocating, providing resourceful information and contact to my client as well as attend mandated court appointment, visitation, or any meeting with the clients to offer support, assistance, or attend meeting with the clients that will overall assistance them with bettering their life. I have reach out to foster agencies for assistance on how to obtain funding, I have tried to volunteer at local foster care agencies to try to gain rapport with agencies worker or client and I have been unsuccessful at getting an opportunity to more forward and execute my dreams. I haven’t given up on my hopes to guide, assist and advocate for families in need I am confident and aware that if I had the support and resources to start my business that it will be a success. There is a true need for my business after graduating college; I felt the urge, desire, hunger and courageous to more forward with my business ideas and even recruited a few intelligent, hardworking, focus and determined former foster youth. However we weren’t able to get any funding or assistance for the project. The foster care system is lacking support and guidance and I know I can provide that. Its all I want to do in life; to make my dream of helping families that once felt hopeless and worthless feel and know they worthy of greatness and can achieved with handwork and support I am a living testimony I want make my Dream of having my non-for-profit a reality. Please help me; find ways that I can make my business a reality. Thank you for you help and I truly admired your work. Thank You
You forgot to mention luck. Luck is very important, and part of your blog. Luck is when an opportunity and preparation meet. This is not ‘ I won the lottery…’, but for example, I took time to learn another language in my office and then a job oppening appears for someone who speaks both my native language and the new one. Or I learned about ‘x’ stuff and then I can work at that.
Simple but really practical advice.
I founded a software professional services company and partnered with a leading SaaS company. In 2 years time, the company was able to get a number of good clients to grow by 300% but still not cash flow positive. How can I grow much faster?
Hi Neil.
I appreciate this post greatly, I got some great info from this post.Thanks for sharing great stuff.
“Every week I literally get a handful of people who want feedback on their business idea.”
Sorry to nitpick, but this means that you can actually fit these people in your hand. That’s what “literally” means.
Now, you’re a pretty good writer, overlooking this all-too-common mistake, but too many people in business can’t write. I think it’s a grevious mistake to overlook the importance of being able to write if you want to be successful. It’s very insulting to get an e-mail from a superior that is loaded with spelling and grammatical errors.
you are a nob end
nobody gives a shite what you think you pedantic wank-stain
hey neil,
you are absolutely right. really liked “Reality Check #6: F may come before W, but Work comes before Fun”.
Thanks.
Matt
you are awesome on a level I can barely comprehend and I practically invented awesomness……
How does one measure success? I have very little, i dont make a lot of money, yet I have a wonderful simple life. It is in no way extravagant, yet it is full of love, and smiles. Success isnt about having a huge house, lots of money or a fantastic business to everyone, and to tell people that they wont succeed if they dont do those 6 thing you list is just shallow. Filling peoples heads with negative influence isnt a good way to help people ..
Last paragraph – “If you are wiling to change you can succeed.”
Nothing should ever be put over feelings and emotions of human beings. Thats why we have heartless business empires that set in place the roadblocks in everyones life. Thats why people are starving to death right now and crime is rampant in the streets. Because heartless people like you are looking out for themselves instead of helping the people. You are obviously successful, you have the power to help lots of people every day. But no, you’d rather work day and night on your “start-up”. Those “emotion-filled” people may not have high-paying jobs. But it sounds like they are more in touch with their humanity than you
Well said!
Hey neil ,
dont get me wrong , i’m glad your successful , but honestly , I’d much rather enjoy my life , i after all have only one.
down the line , you’re gonna have a whole wasd of money , and absolutely no memories .
Perhaps i’m just old fashioned.
Thanks Neil, best information I have read for ages – very inspiring.
An interesting an intelligent article. Thank you for writing it.
For what it’s worth, I am quite a bit older than you and -partly for this reason- see the world a little differently. Your point about preparation is important, however, the hairdresser you mentioned may not have blown her opportunity with you so much as had mixed feelings about it on some level and/or chosen a different path. Not everyone wants to expand and expanding can seem initially attractive, but, on reflection, more stress than it is worth (for example if you have a good quality of life already and/or want to prioritize time with your family/children as they grow up). I assume that you know the story of the Greek fisherman who spends a few hours a day in his boat and the rest of the day talking, eating and partying with his friends and the American Entrepreneur who explains to him how inefficient this is? And how he would be better off working really hard for years, saving to buy a fleet of boats and then, in a decade’s time, he won’t have to go fishing, he can just go out for an hour or two, to check on everything, and then spend the rest of the day enjoying himself with his friends…
That echos what some of the other comments have said.
Also, re: #5, I agree with F and have found that emotion, passion, flair and empathy – all very “touchy feely” attributes- can be useful in business and are certainly saleable. It does depend upon your industry and how you manage them. But a flamboyant- perfume manufacturer, chef or fashion designer or artist, say- in some senses is exactly what customers look for- they see the eccentricities and the passion as proof of commitment and talent of the provider. It would not work for an accountant, but it does -or it can- work in other industries.
Anyway, that’s my opinion for what it is worth. Thanks again for writing your article- I wish some of the newspapers produced considered, intelligent articles like yours more often.
Best Wishes,
M Jones
I’ve worked hard as hell…I’m on my second start-up my first one failed for a bunch of reasons but most boiled down to being inexperienced. I really think a lot of people think its easy to create a product or whatever they may fancy but them come up with an excuse on why they can’t do it(I can’t find start-up money, I don’t have time) all the same old stuff…and in their mind they do think they have what it takes. The truth is if they did they would have chased their dream and not just talked about it. I think that’s what sets entrepreneurs apart from the rest – The ability to lay it all out, take a chance, learn from mistakes, work an insane amount of hours (that probably violates labor laws) and be extremely persistent and passionate even when things aren’t going so well.
Thanks for sharing Neil as always another great article
I agree with all written here BUT what you’re discussing here? Are you sharing experience or you became cocky by your escalating success? What most of people need here is helping them improving them selves.we need a KNOW HOW not a beautiful words written in self esteem books! I’d be grateful if you help me and be more grateful if you answered me!
Fantastic ideas and great why to get peoples attention with a viral image at the start.
The best way to make it is to ride on tails of others, for a margin. Get others to hard work, but take credit self and profit.
Great post. I agree with everything, except for #6. Work is very important, but so is fun because what’s the point if you’re not having fun and enjoying your successes by vacation and travel.
“Reality Check #5″
And this is why being a businessman/woman of that type has made the world a cold and uninviting place for many.
Hence, having feelings, experiencing love, learning about spirituality, surrounding yourself with caring and genuine people, helping those in turmoil, lowering your barriers and revealing your sincerity while you learn about others, sharing joy and sadness (basically all the truly worthy elements of our short lives), have absolutely no place in the world of business…
You “have started to slowly cut these emotion filled people out of my life”… Lucky for them, Shame on you!
There’s 2 choices: Have a meager life, but also the possibility of great happiness and worldly lessons… or, be a business person and have a cold, unhappy life with no genuine friends and plenty of money.
Welcome to capitalism!
Much of this is plain common sense. I have another thing to add: dress appropriately for interviews!
Thanks
First clear the planet of the international bankers and the tyrants who control our countries. Then work hard. Your chances of success will have quadrupled by clearing the world of those arch criminals who are sucking the life out of the population, then doubled again by working hard.
Doug, hard work will definitely do the trick. Thanks for your input..
im also a bussinessman.and ive became lil succes after hrd work.ive searched for smething i hve to do for my succes.and ive found ur article from top of the google search.so ive read ur 6 reasons and i’ll following ur words ….. and if u can,e mail me….. and serch me on FB using my e.mail and u’ll find me…. thanks for ur help… great work … Kalum from Minuwangoda,Sri Lanka.
Kalum, great. It sounds like you are doing the right things. Keep up the good work!
Really nice article but not satisfied completely . But very well and very much pracitcal.
Thanks for reading
right … i see your point, but i feel like you’ve kind of missed the point of life as a whole somewhat here.
life is no longer about survival of the fittest … sure … if you’re rich, successful and a bit of a go-getter you’ll get more cash, more stuff and maybe even a better mate in genetic terms … this sounds good … it’s what evolution has pushed us towards for eons … but we forget that evolution doesn’t care if we’re happy or sad, but is just a means to an end to pass on the best genetics and improve the species.
i’m an evolutionary pshychologist but the most healthy decision i ever made in my own life was to opt out of the battle to as large a degree as i am able. i’ll explain: i used to work very hard, had my own house, a lovely car, and 3 holidays a year and it felt great in many ways. girls were always interested so i was the envy of my male friends on that score, i had all the stuff i thought that i wanted so my pad was great … i had a job where i could earn a six-figure salary when effort was applied and to the outside world i was sorted, everything was in order … i just had to reproduce my genes and i’d have accomplished the evolutionary dream of thriving, surviving and pro-creating. but over time i came to realise that the stuff was useless, i didn’t really want to have kids as i prefer my own company and a bit of peace and quiet, and that my so called good job involved little more than persueding others to tranfer cash from their businesses to the one that employed me.
you may ask … so what’s the solution? how can happyness be found? i think i know … and it’s opting out of this nonsense!
so … i sold my stuff, gave up work and began to do the things that i truely enjoyed … surfing, reading, trying to write a novel etc, and spending more time in the sun. this was great for a while but the money began to run out … oh no you’d say … no money? how can you be happy now?
the answer was simple again … i sold what i had left except a mountain bike, laptop and surfboard, boarded a plane to the canary islands with £3k in my pocket and was gone … i found a little job working in a kitchen in a bar, earning less than 200 euro a week, enough to pay my rent, buy my food and buuy the odd beer and guess what … I’ve never been happier.
blogs like this are fine … but humans should now reconsider what makes happiness and where it can be found … do one corporate world … you’re not worth another minute of my time. stop chasing the next suit, job, car or house, think about what actually makes you happy … then go and do that!
Tom, I love reading stories like this. I hope one day I can achieve this type of zen; however, as it stands I am young and content chasing the next challenge. Not taking away from your accomplishments at all, of course. I hope one day I can find my spot on the sand at the beach. Thanks for sharing
good to know you have the long-game in mind my friend. and fair enough … i wasn’t suggesting you were wrong entirely … just reminding the world that there’s more to life than ‘success’ and making a million
but horses for courses as they say … best of luck with your next challenge … i’m off for a surf 
@Don’t waste your time telling hundreds of people your business ideas, just get out there and do it.
Thanks for this line cum quote, I think it is for me.
Glad you found it helpful
This sounds like a nice recipe for a burn-out or worse. No emotion and no vacation? Seems to me those are things you can’t do without as a human being. If the business world is led by people who are being hard on themselves, maybe that’s why the business world is so hard on the rest of the world..?
Gert, it may be true in some cases. However, in other cases people do quite okay and thrive in this environment.
For youth generation this type of articles was totally bored but your article was fully different and realistic to the young generation for the future life. Good work man! Best wishes for the great creation of this blog.
Agree with what you have told. Just spitting out the business ideas to others won’t help us for sure. We need to starting work on that soon to succeed well.
Great point. Action is important in all regards.
I love your writing… and glad to know that we share same thoughts !
Thanks for reading