dearJulius.com

How Serial Entrepreneurs Made Their First Million


By John Hall, Inc.

The first million dollars are sitting there, just waiting for you. You can almost taste them. But you need to build a bridge to access that kind of money -- and that bridge is your business. Many entrepreneurs feel it's hard enough to make a living, let alone a profit or a fortune.

Seasoned entrepreneurs agree that your first million is the hardest. Maybe it's the shift in mindset or the learning curve; maybe it's the relative ease with which money propagates itself once it's established. But according to several millionaire entrepreneurs I've spoken to, once you're over the hump, you'll have a hard time remembering why it was all such a struggle.

This is what successful serial entrepreneurs have to say about bridging the gap to your first million.


1. Outwork everyone else

Mark Cuban told Valuetainment that people don't just fail because of a lack of smarts -- they also fail because of a lack of work ethic. He explained that he views business as if people are working 24 hours a day to take market share away from him. That motivates him to work harder, learn more, and outstrategize his competitors. "If you walk into a competitive environment and they still know more about the business than you do and more about your customers, you're going to lose," he said.

Cuban has talked about his early start, when he lived with five roommates in a small apartment as he worked to build tech company MicroSolutions. He relentlessly researched the industry and gobbled up any news on trends and developments. Now a multibillionaire known for Shark Tank and the Dallas Mavericks beyond his companies, Cuban attributes his success to his effort, more so than any of his connections or money.

"You're not going to outwork me," he said. Cuban's multiple ventures highlight why it's so important to build companies in industries you truly see a long-term future in: If you're not willing to spend your days learning and improving your knowledge and skill set, your business won't be on a path to make millions.


2. Choose your people actively, not passively

"People say, 'Your network is your net worth.' But there's a difference between just using that as a slogan and actually living it," explained Ian Balina. "You can't do it alone. Whatever your path to millions looks like, you'll be working with others, whether they're partners, customers, investors, or even just supportive friends."

Balina urges entrepreneurs to "choose these people wisely instead of passively," noting that "choosing a successful company will stretch you, give you new ideas, and keep you growing." He knows what he's talking about: Balina started off as a data analyst at IBM, but he made his way to financial freedom as a serial entrepreneur, author, crypto investor, and founder of 100x Advisors.

The past year has taken him around the world for speaking engagements, encouraging others to follow his path to success -- or to blaze their own. Balina describes one such recent speaking event at Harvard Business School as emblematic of this point. "The conversations happening there are totally different," he said. "Everyone's switched on, everyone's set to succeed." There's a reason Harvard produces more billionaires than any other school, he says: It's because people are surrounded by a community of achievers, who push up their own standards.


3. Focus on your strengths rather than your passions.

There's not a leader around who hasn't been told to follow her passion. And that's a crock, explains Scott Galloway. Galloway, a serial entrepreneur who sold L2, Inc., for more than $130 million and teaches at New York University, said, "People often come to NYU and say, 'Follow your passion' -- which is total bulls---, especially because the individual telling you to follow your passion usually became magnificently wealthy selling software as a service for the scheduling of health care maintenance workers." He added, "I refuse to believe that was his or her passion."

Instead, Galloway believes that people on a wealth track should be focused on what they're good at. Where an entrepreneur's natural talents lie is more indicative of where she'll find success than what's popular. The things that people are often passionate about, Galloway points out -- like sports and films -- aren't lucrative for the vast majority. But more mundane -- albeit necessary -- pursuits can deliver the trappings of success that are often more important to people: money, status, recognition as an industry expert.

Another thing to remember: "Passion" fields are often crowded, meaning those who do succeed are often paid a modest amount for their trouble. They're also more subjective than other industries, where metrics and market share can enable you to more frequently gauge your level of success.

Becoming a millionaire has never been easy. But some of our own beliefs make it harder on us. Overnight success doesn't happen often. Commit to outworking others, surround yourself with people who build you up, and bypass "passion" for talents. That will get you further on the path to your first million, and every day your work toward your goal brings it that much closer.

COMMENTS




Made with in NYC
Name

4th of July,7,Abu Dhabi,2,Accessories,234,Acne,13,Adventure,32,Adventure Travel,638,Advice,255,Africa,26,African Food,2,AIDS,1,Air Travel,150,Alabama,5,Alaska,20,Alberta,1,Alcohol,4,All About Beer,1,All About Wine,2,Alternative Treatments,4,America,77,American Food,5,Amsterdam,2,Android,11,Anguilla,3,Animal,367,Animal Health,1,Animals,103,Anniversary,1,Anniversary Cake,11,Antarctica,7,Anti-aging,49,Antigua,3,Appetizers & Snacks,2,Apple,11,Apps,16,Argentina,15,Arizona,19,Arkansas,2,Armenia,1,Asia Travel,47,Asian Food,7,Asthma,4,Athens,3,Austin,8,Australia,92,Australian Food,1,Austria,13,Autism,1,Auto Insurance,1,Auto Show,52,Autos,280,Azerbaijan,1,Baby Shower Cake,29,Back Pain,25,Bags,10,Bahamas,13,Balance Work & Life,50,Banana Cakes,2,Bangladesh,8,Barn Finds,1,Bathroom,43,Be a Better Manager,33,Beach Travel,58,Beaded Dress,2,Beards and Shaving,29,Beauty,1888,Beauty & Style,35,Beef Recipes,7,Belarus,1,Belgium,9,Belize,15,Bermuda,5,Best Products,17,Better Partner,7,Beverages,3,Bhutan,9,Bills to Pay,35,Birds,4,Birth Control,1,Birthday Cake,109,Blue Lagoon,2,Blueberry Cake,11,Bolivia,3,Books,1,Botswana,3,Brazil,38,Bread,11,Breads,1,Break Room,12,Breakfast & Brunch,6,Breakup,5,Breakups,3,breast,1,Breasts,69,Broken Hearts,1,Brownie,8,Brunei,1,Budget Travel,97,Bundt Cake,30,Business Skills,102,Butter Cake,52,Buying,1,By Region,3,Cake Decorating,113,Cakes,54,California,109,Cambodia,4,Camera,6,Canada,80,Cancer,73,Car Shows,1,Car Tech,2,Caramel Cake,5,Career,157,Career Advice,298,Career Choice,125,Career Growth,180,Career Paths,24,Career Problem,8,Caribbean,45,Caribbean & Mexico,5,Carrot Cake,22,Cats,49,Celebrity,17,Celebrity Dress,2,Celebs,1,Ceremonial Cake,9,Certified Pre-Owned Vehicles,1,Cheese Recipes,4,Cheesecakes,251,Chicago,7,Chicago Auto Show,2,Chicken Recipes,14,Chiffon Cake,5,Children's Health,21,Chile,7,China,21,Chocolate Cake,395,Christmas,35,Christmas Cake,23,Christmas Travel,14,Classic Cars,39,Cleaning Tips,144,Clinical Practice,1,Clothes,1,Cocktail Recipes,2,Coconut Cake,21,Coffee,1,Coffee Cake,15,Coliseum,1,Colombia,18,Colorado,32,Columbia,3,Companies,2,Compassion,1,Computing,16,Connecticut,4,Consumer Electronics Show,5,Cookies,10,Cooking,8,Corporate Travel,2,Costa Rica,13,Country Travel,249,Creative,309,Creative Idea,22,Creative Ideas,37,Croatia,15,Cruiser Travel,16,Cuba,18,Cultural Travel,66,Cupcake,322,Customs & Classics,2,Czech Republic,6,D.C.,2,Dandruff,1,Dating,8,Dating Advice,31,Dating Advice for Women,1,Dating Tips,4,Decor,23,Decorating Ideas,181,Delaware,1,Demotivational,636,Denmark,12,Dental Health,26,Dentistry,1,Depression,24,Desert Travel,1,Desserts,3,Detroit Auto Show,4,Diabetes,25,Diet,131,Dining Out,3,Dinner,14,Disease,116,Divorce,12,DIY,112,DIY Fashion,34,Dogs,156,Doughnuts,5,Dress,29,Drink,27,Drinks,1,Drinks & Cocktails,4,Driving,3,Drugs,3,Dubai,15,Ears,2,East Africa,4,Easter,1,Easter Island,1,Easter Travel,1,Eco Travel,18,Ecuador,7,Education,87,Eggs,3,Egypt,4,Electronics,4,Electronics and Gadgets,2,Emirates,1,England,13,Entertainment,148,Enthusiasts,131,Entrepreneurship,40,Estonia,2,Eswatini,1,Ethiopia,2,Europe,110,European Food,8,Exercises,51,Eye,300,Eye Health,28,Eyebrow,56,Eyelash,20,Face,54,Facts,284,Fall Travel,43,Family,16,Family Travel,128,Faroe Island,1,Fashion,395,Fashion for Kids,2,Fashion for Man,12,Fashion for Woman,31,Fat Loss,91,Father's Day Cake,4,Father's Day Travel,1,Featured,212,Features,1913,Fertility,2,Festival Travel,25,Fiji,6,Finance,12,Finland,16,Fish & Seafood,13,Fitness,1177,Fitness & Exercise,219,Florida,69,Food,164,Food and Drink,14,Food Recipes,7,France,37,Frankfurt Motor Show,2,Free Travel,3,French,6,French Polynesia,5,Friendship,17,Fruit & Veggie Recipes,8,Fruitcake,70,Fruits,4,Fuel Economy,1,Fun,42,Funny,546,Gadgets,31,Galapagos,3,Games,12,Garden,24,Gardening,276,Gearheads,1,General,7,Geneva Motor Show,3,Georgia,14,Germany,18,Get Healthy,63,Ghana,2,Google,15,Graduation Cake,2,Gratitude,1,Greece,37,Green Living,5,Greenland,1,Grooming,89,Guatemala,2,Hair,1264,Hair Care,317,Hair Color,299,Hairstyle,65,Hairstyles,855,Halloween,41,Halloween Cake,12,Halloween Travel,9,Happiness,16,Hawaii,53,Hayden Panettiere,1,Headache,22,Health,842,Health & Fitness,300,Health Care,491,Health Insurance,1,Healthcare Tech,6,Healthy,12,Healthy Drinks,31,Healthy Eating,186,Healthy Habits,159,Healthy Living,345,Hearing,1,Hiking Travel,63,HIV/AIDS,4,Holiday Travel,28,Holland,1,home,31,Home & Garden,205,Home and Decor,483,Honeymoon Travel,128,Hong Kong,13,Horoscope,31,Hot Rod Power Tour,1,Hotels,71,Housekeeper,8,Hungary,3,Ice cream Cake,21,Iceland,41,Idaho,4,Ideas,11,Illinois,13,Imports,1,Impress a Girl,3,Impress Women,4,Independence Day Travel,1,India,36,Indiana,5,Indonesia,13,Indoor Gardening,69,Industry,5,Inspiration,58,Insurance,5,Internet,19,Internship,8,Interview Skills,37,Investing,12,iPad,2,iPhone,6,Iraq,1,Ireland,36,Island,60,islands,2,Israel,9,Italy,56,Jamaica,8,Japan,44,Jewelry,13,Job Search,47,Jordan,6,Just For Fun,2,Kansas,6,Kentucky,2,Kenya,2,Kids,1,Kids & Pets,10,Kitchen,67,Koala,1,Korea,2,Kyrgyzstan,1,Lamb,2,Laptops,4,Latin America,3,Latin American Food,1,Latvia,1,Laundry,6,Layer Cake,95,Leadership,44,Legs,1,Lemon Cake,18,Life,1,Life Hacks,273,LifeStyle,883,Lips,134,Lithuania,2,London,24,Long Distance Relationship,1,Los Angeles Auto Show,14,Louisiana,9,Love,80,Lowa,4,Lunch,5,Luxembourg,1,Luxury Travel,35,Maine,6,Maintenance,3,Makeup,608,Makeup & Beauty,11,Makeup Tips,77,Malaysia,1,Maldives,15,Malta,2,Mango Cake,3,Manicure,10,Marketing,10,Markets,11,Marriage,81,Marshmallow,3,Maryland,6,Massachusetts,9,Massage,5,Mauritius,6,Meditation,35,Men & Women,18,Men's Health,14,Menstruation,21,Mental Health,302,Mexico,74,Miami,13,Michigan,5,Microsoft,6,Middle Eastern Food,2,Mind,3,Mississippi,2,Missouri,7,Mobile,22,Moldova,1,Monaco,1,Money & Career,21,Monkey,1,Montana,12,Morocco,20,Mother's Day Travel,1,Motherhood,16,Motivation,2,Motorcycles,106,Motorsports,2,Mousse,2,Muffins,9,Mug Cake,14,Multiple Sclerosis,1,Muscle Cars,4,Muscle Cars & Hot Rods,3,Muscle Gain,2,Myanmar,9,Nail Art,195,Nails,252,Namibia,4,Nature,4,Nature Travel,102,Nepal,6,Netherlands,11,Nevada,23,Nevis,1,New Bikes,2,New Car Deals,1,New England,5,New Jersey,2,New Mexico,6,New Year Fashion,6,New Year's Day Travel,6,New York,55,New York Auto Show,3,New York City,20,New Zealand,47,Newfoundland,1,Newlyweds,1,News,334,Nicaragua,2,North America,11,North Carolina,6,North Dakota,1,North Ireland,1,Northern Ireland,1,Norway,20,Nutrition,447,Occasional Travel,9,Oceania,1,Offbeat,643,Ohio,6,Oman,5,Online Date Tips,1,Operating Systems,2,Oral,4,Oregon,10,outdoor,3,Outfits,166,Ownership,61,Pain,24,Painting,16,Pakistan,2,Panama,5,Pancake,19,Panda,1,Panna Cotta,3,Paraguay,1,Parenting,370,Paris,23,Paris Motor Show,4,Pasta,2,Pastry,7,Pebble Beach Concours d'Elegance,2,Pedicure,4,Penguin,4,Pennsylvania,10,People & Places,88,Perfumes,14,Personal Finance,164,Peru,21,Pets,167,Phoenix,1,Photo Feature,1,Pie,27,Pimple,3,Plum Cake,1,Poke Cake,10,Poland,3,Popular Ingredients,26,Pork Recipes,7,Portable Media,14,Portugal,21,Pound Cake,55,Prague,1,Pregnancy,112,Premium,1,Printer,2,Protein Bars,1,Psychology,1,Pudding,9,Puerto Rico,7,Pumpkin Cake,45,Qatar,6,Quick & Easy Recipes,11,Real Estate,72,Recalls,4,Recipe,1098,Recipes,52,Recipes & Meal Ideas,3,Recipes By Course,5,Relationship,137,Relationship Advice,70,Relationship Advice for Men,1,Relationship Advice for Women,5,Relationship Problems,23,Relationship Secrets,6,Relationships,53,Research,94,Resort,11,Restaurants & News,13,Resume,11,Retirement,10,Reviews,1,Rhode Island,2,River Travel,2,Road Trips,49,Romania,4,Romantic Getaways,15,Rome,5,Russia,16,Safety,5,Saint Lucia,1,Saint Patrick's Day Travel,1,Salad,6,San Miguel de Allende,1,Science & Tech,66,Scotland,10,Seasonal,56,Seasonal Travel,59,Security,9,Self Help,14,Self-Care,3,SEMA Show,5,Sex,7,Sexual Health,19,Shanghai Auto Show,7,Shaving,1,Sheet Cake,20,Shirt,4,Shoes,29,Shopping,10,Shots & Shooters,1,Side Dishes,4,Sightseeing Tours,2,Singapore,18,Ski Resorts,10,Skin,429,Skin Caare,1,Skin Care,609,Sleep,62,Slovenia,6,Small Business,163,Smartphone,28,Smile,1,Smoothies & Juices,3,Snacks,1,Social Media,44,Solo Travel,24,Solomon Islands,1,Somoa,1,Soth Africa,1,South Africa,14,South America,3,South Carolina,4,South Dakota,5,South Korea,3,South Pacific,2,Space Travel,14,Spain,33,Special,30,Special Cake,579,Special Feature,113,Special Features,448,Sponge Cake,15,Sports,22,Sports and Exotics,4,Sports Cars,8,Spring Travel,23,Squirrel,1,Sri Lanka,6,Strawberry Cake,22,Street Fashion,8,Stress Relief,35,Stroke,2,Student Travel,1,Style Guide,25,Summer Travel,53,Summer Vacation,8,Supercars,10,Sweden,19,Swiss Alps,1,Switzerland,20,Tahiti,1,Taiwan,3,Tanzania,1,Tarts,12,Tattoos,81,Taxes,7,Teas,2,Tech,89,Tech Advice,12,Tech Education,7,Tech Hacks,19,Tech Updates,2,Technology,13,Teen Advice,1,Teeth,5,Tennessee,6,Texas,57,Thailand,31,Thanksgiving Cake,4,Thanksgiving Travel,5,Therapy,3,Things to Do,165,Tibet,2,Tips,259,Tips & Tricks,6,Tokyo Motor Show,2,Tools & Skills,16,Top Stocks,1,Top Stories,1,Traditional Cake,4,Train Travel,23,Training,1,Transportation,22,Travel,220,Travel Advice,64,Travel Apps,1,Travel Guide,40,Travel Tips,149,Trends,7,Trucks,1,True Health,5,Tunisia,2,Turkey,10,Turkish,1,Tuscany,1,TV,2,UAE,10,UK,40,Ukrine,1,Understanding Women,9,Urban Travel,47,Uruguary,1,USA,629,Utah,12,Uzbekistan,1,Vacation Travel,245,Valentine's Day Cake,7,Valentine's Day Travel,1,Vanilla Cake,17,Vegetables,3,Vehicle Travel,2,Venezuela,1,Vermont,4,Victoria Falls,1,Video,5,Vietnam,5,Virginia,5,Waffles,3,Washington,15,Washington DC,20,Waxing,19,Web & Social,17,Wedding,73,Wedding Cake,549,Wedding Dress,30,Weddings,39,Weddings Travel,4,wei,1,Weight Gain,29,Weight Loss,755,Weird,172,Wellness,193,West Indies,2,Wi-Fi,2,Wildlife Travel,13,Winter Travel,56,Wisconsin,5,Women Lifestyle,23,Women's,110,Women's Health,173,Work Environment,77,Workout,8,Workouts,81,Worldwide,155,Wyoming,2,xxx,1,Yemen,1,Yoga,85,YouTube,3,Zadar,2,Zambia,3,Zimbabwe,4,
ltr
item
News: How Serial Entrepreneurs Made Their First Million
How Serial Entrepreneurs Made Their First Million
https://1.bp.blogspot.com/-HT0JJYdDMNA/XLhvnc4JCKI/AAAAAAAAd5Y/NR9TCHQHMSk4igEH0Aj_AUmTcIPOSxZjQCLcBGAs/s1600/How%2BSerial%2BEntrepreneurs%2BMade%2BTheir%2BFirst%2BMillion.jpg
https://1.bp.blogspot.com/-HT0JJYdDMNA/XLhvnc4JCKI/AAAAAAAAd5Y/NR9TCHQHMSk4igEH0Aj_AUmTcIPOSxZjQCLcBGAs/s72-c/How%2BSerial%2BEntrepreneurs%2BMade%2BTheir%2BFirst%2BMillion.jpg
News
https://news.dearjulius.com/2019/04/how-serial-entrepreneurs-made-their.html
https://news.dearjulius.com/
https://news.dearjulius.com/
https://news.dearjulius.com/2019/04/how-serial-entrepreneurs-made-their.html
true
637333457269776417
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy