Successful entrepreneurs focus on what they will do, not what they won’t do. They tend to have a crystal-clear belief of exactly what success will look like. Then, they seize the moment to act on their goals. Here is advice from Charles Schwab on gut and passion. Charles Schwab is the founder of Charles Schwab, the brokerage service.
- On the importance of customers and keeping costs low: the most important part is that your clients have a sense that they are a valuable. Because of the end of every day, having a clientele that speaks well of you, that’s the largest source of business.
- On advice he would give a young entrepreneur: you got to start with your gut, with something you are really passionate about, for good reason. You won’t get there by sitting in a closet and thinking, “Boy, I know the world must want this.” You have two get some real-world experience that tells you what people want. Luck helps every successful entrepreneur. But it doesn’t come without a lot of preparation and hard work.
Source: “World Changers: 25 Entrepreneurs Who Changed Business as We Knew It” by John A. Byrne. John A. Byrne is the former executive editor of BusinessWeek, former editor-in-chief of Fast Company, and former associate editor at Forbes, and co-author with Jack Welch of Jack: Straight from the Gut In “World Changers,” John Byrne interviews successful entrepreneurs like FedEx’s Fred Smith, Infosys’s Narayana Murthy, and Starbucks’s Howard Schultz and provides valuable insight into what makes entrepreneurs tick. John Byrne argues that the greatest common denominators amongst great world changers are the centrality of purpose in their organizations, their willingness to seek advice through mentorship and peer counseling, and the ability to maintain focus and direction over long periods.
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