The Success Compass: Entrepreneurial Insights Revealed #MakingBank #S8E17

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Garrett Gunderson, Babak Azad, Henry Kaminski, Marshall Sylver, Mark Podolsky, Cole Hatter and Steven Kotler and in this episode you will hear tips and tricks from top entrepreneurs about the guide to success.

 

(2:42) Garrett Gunderson

Morning rituals are very important. They will be responsible for how your day will be therefore having a healthy morning ritual is the first step to success. You can start with meditation, exercise and a bit of stretching. After this you can also write down in your journal and lastly you can listen to podcasts or shows about personal developments.

 

(6:01) Babak Azad

Before the launch of anything in your business, it's crucial to establish a clear brand identity, defining the promise to customers and positioning the product uniquely, ensuring it stands out among competitors with superior offerings. This not only drives sales and revenue growth but also establishes a foundation of trust and credibility. 

 

(14:50) Henry Kaminski

The competition is very high today. You need to be absolutely clear on what you are selling. Ask yourself what your business is offering. Are you offering a better product? A better design? Are you offering better services? What value are you offering to your customers? Find a way to help others get the most value out of your business.

 

(18:17) Marshall Sylver

Avoid WGAs, Minimum Wage Activities. Hire someone else to help you with that. As an entrepreneur, your job is to focus on IGAs, Income Generating Activities. Focus on things that help you make more money. Another important thing you should do is to let people ask you what you’re selling and have them believe it was their idea. These are the skills that will get you wealthy.

 

(21:57) Mark Podolsky

Focus on things that will really make you happy. Remember that you are working for freedom and flexibility. Do not ever lose yourself in the pursuit of that. Focus on the quality of your relationship with your family and people around you. Having all the money is great but it will be a very empty life if you do not have anyone around you that you care for. 

 

(26:15) Cole Hatter

Being an entrepreneur will give you more security than a day job. Having a job is less secure as compared to knowing how to make money on your own. Learning how to make money is more superior than relying on a skillset where you will be compensated for it. Remember to concentrate on skills that will help you acquire more money.