So if your anything like me I watch Shark Tank. Robert Herjavec is by far one of my favorites on the show. He's so smooth but also so knowledgeable on so many levels. He really drops some gems in this tip video. Take a watch and read along with the transcript. Let's get inspired and implement things we learn from this blog and video in our business life.
Robert Herjavec You're not gonna
sleep, a lot. My five tips for entrepreneurs. Don'T look to start a business. Look for a problem Too many people think about ``. Ah, I got to start a business to do this or to do that .''. The best businesses are ones that find a problem, So tip No 1 Find a problem solve it Tip No 2. Ask a paying customer People are deathly, afraid of rejection. They'D rather take a fake `` yes'' than a real ``. No .'' Get the truth. It'S better to have your heart broken upfront before you sink a lot of money into it.
Tip No 3 Make sure you have enough cash to pay the rent 'cause it's gonna take a long time for a business to generate cash. My dad had a tip He said, ``, It's good to dream, It's good to want to be big, But rule No 1. Pay the rent, .'' Tip No 4 Narrow your field of focus. Don't try to do 20 things. You know if you want to build a great business, be great at one thing: The narrower the niche, the more expertise you have to have Tip No 5. My final tip, If you're gonna compete in a big market, move quickly, If you move fast, they can't catch you You know before I started my own business. I thought I understood moving quickly and what I realized when I started my business is you're responsible for everything. Coffee doesn't show up on time, You're responsible for it.
There'S no toilet paper, You're responsible for it. Nobody cleaned my desk, I'm responsible for it, And so what happens when you start a business? If you have so many hours, but the amount of responsibility goes to this, so you've got to compress time Being a great entrepreneur. Is all about compressing time You got to go fast, baby, There are multiple ways to go fast. The first one is Learn to say: ``, no .'', I'm pretty I'm a pretty nice guy, but I'm pretty .... If I don't want to do it, I'm just gonna say: ``, no .'' Tip No 2 Hold other people accountable. If it's your job to do something, it's not my job to do it, for you So learned a long time ago is to hold people accountable for stuff and don't be afraid to tell them when they messed up The other one is yes, be more efficient. Do it faster Do it and you know the last one is You're not gonna sleep, a lot People always say to me: ``, Oh gosh, you sleep so little
I wish I could do that .'' And I'm like it's, not a gene that I have It's just there's so much to do. You gotta, get it done...