Many entrepreneurs have had to struggle so much to make it that they don’t want to make it easy for those following in their footsteps. In some ways this is good, because the lessons entrepreneurs learn on the road to success ultimately makes them better businesspeople. However, there is one particular self-made millionaire that doesn’t mind sharing a few secrets with those who would like to achieve similar feats to his.
Adam Milstein put in a lot of hard work to form a partnership with a respected investor. He used this partnership to help develop a very successful real estate holdings company called Hager Pacific Properties. Now he would like to share some of his secrets with entrepreneurs, hoping he will inspire them.
Secrets to Success for Budding Entrepreneurs
You can’t browse a news feed without seeing a young entrepreneur wearing running shoes and a hoodie talking about how his tech company made millions overnight. For many, this has become the benchmark of success. However, in reality, success is often a waiting game. Milstein says that overnight successes become media sensations, but the majority of businesses have to work hard it for years. More importantly he stresses that success isn’t reserved for the young.
Many entrepreneurs think of a future filled with yachts, sports cars, and private beaches. However, Milstein says that business owners should view wealth generation from the right viewpoint. He uses it as a means to do the things he loves, which includes philanthropy.
Milstein says that many entrepreneurs go wrong by being overconfident. He says that those people who are more about their image and driving sales risk becoming more concerned with garnering recognition than they do with success. Essentially, this is taking your eye off the prize, and it can end up damaging your business and reputation.
Don’t Try to Be the Smartest Person in the Room
Milstein says that many entrepreneurs go wrong by bringing in people that will support their ideas unconditionally. This, however, doesn’t lead to growth. It is better to bring in people who are prepared to argue with you, and from whom you can learn.
Don’t Try to Do It Alone
Adam Milstein owes his success to his partnership with David Hager. He thus encourages entrepreneurs to go out and make important connections and partnerships. He says success relies on partnering with someone who is likeminded, but who has abilities beyond your own.
Image credit: http://www.voiceofisrael.com/empowering-american-jewish-identity-through-israel/