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Overview

In life, we will have good and bad times. We’ll be on top of the world one minute, then feel like giving up the next. This is especially true for entrepreneurs; they’re constantly facing challenges.

When you start a business, you might have many successes and some failures.

When bad times hit, many people give up. But not those who have the right mind-set. These entrepreneurs ride the roller coaster of entrepreneurship until they make it big in business. What is this right mind-set? Read on to find out!

Entrepreneurs need a cause to fight for. They can’t just be in it for the money. Also, half of America doesn’t like Obama, but he’s still doing great work. And every CEO should make sure they’re not the smartest person in their company—the leader needs to surround themselves with people who are smarter than them.

Big Idea #1: Ignite your passion, the key to business success.

Many people go into business for the money. However, most entrepreneurs do not end up with a lot of money because they’re motivated by that desire. Instead, you should follow your passion and love what you do. That way, 95% of your job will be repetitive and boring, but 5% will be fun and engaging.

For example, Bono from the band U2. He spends 95 percent of his time on business tasks that he doesn’t like to do. But he loves what he does 5 percent of the time and is able to get through it all because of that love.

If you want to get through the hard parts, then you need passion. The key is figuring out what makes you passionate. You can do that by thinking about things that make you angry or upset and how to fix them. Some of the world’s most revolutionary ideas came from people who were mad at something and wanted to change it.

If the great leaders of our time didn’t stand up to injustice, we wouldn’t be where we are today.

Try using your enemies to ignite your passion! Passion is located in strengths, so you can’t get anything done without the right knowledge. For example, Warren Buffet didn’t invest in internet-based companies because he lacked expertise in that field. When the dot-com bubble burst, he was applauded for sticking with his strengths and not investing outside of them.

Warren Buffett’s advice to find your passion by knowing your strengths and sticking with them is valuable for anyone who wants to be successful. Passion is important because it will get you through the tough times along the way.

Big Idea #2: Overcome the self-conscious naysayers to follow your dreams.

Have you ever been excited about a great idea, but other people have responded with discouragement or doubt? This can be frustrating, especially when you’re different from others. It’s often the case that your colleagues will try to shoot down your ideas and drag you down to their level. The best way to handle these reactions is just ignore them and stay focused on your own project.

When following your passion, don’t worry about everyone liking you. There will always be people putting you down; the more successful you get, the more they’ll dislike you. Just look at President Barack Obama. Even though he only got 51 percent of the popular vote in his second election as president, he’s still one of the most powerful men in America and around the world.

The more successful you are, the more disapproval you’ll get. But don’t let that get to you; instead, realize it’s a sign of how well you’re doing and use it as fuel to keep going!

Although people will respond to your success with anger, they’ll also ridicule you for it. Remember that the people who are laughing at you now will be wishing they were like you when you’re successful.