By Paul Yung
I have had the opportunity of learning from and working with thousands of PM International distributors from 45 countries over the last 19 years.
Throughout this time, I noticed 3 common character traits across those who have started and built multi-million dollar businesses regardless of their age, background, gender, education background or ethnicity.
TEACHABILITY
The most successful entrepreneurs are also the most voracious learners. Warren Buffett was famously quoted saying that the key to success was reading 500 pages of material every day, and that knowledge was like compound interest, built up every day. Although most of us might not be capable of keeping up with that much material, reading adds a new perspective to our world.
Reading is not the only way to learn quickly. Elon Musk famously hired a rocket scientist to teach him a crash course on how to build rockets when he was starting SpaceX. Immersion into a subject by people who are already successful in the field you are interested in will shorten your learning curve by segregating out theory – what is nice to know – from reality, what you need to know.
There is no need to reinvent the wheel. Finding the right mentor and surrounding yourself with people who are on the same journey as you will help you avoid the common pitfalls and accelerate success.
WILLINGNESS TO WORK
Nothing worth having comes easy, but the results will be worth it. From the outside looking in, you may think that there are certain businesses which will sure make money.
The reality is, every business takes effort.
Learning and reading is one thing, taking action is what makes things happen. When you first start out, it won’t be pretty. Keep taking action, keep your ego in check, ask for feedback and be kind to yourself along the way and you will start seeing improvements along the way.
This is known as the aggregation of marginal gains.
A last note on this. You may notice that when you’re starting out that there are others who started with you who are more successful. Don’t let this discourage you! Remember that hard work beats talent if talent doesn’t work hard. If you put in double the effort, eventually your compound gains will make up for a lack of talent.
BURNING DESIRE
In his famous book, Think and Grow Rich, Napoleon Hill talks about burning desire as “the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire, which transcends everything.”
Starting with the end in mind keeps you motivated to keep going when times are tough and uncertain . This is as true to founding a business as it is to learning rock climbing. Having a clear, emotionally charged, aspirational goal that you will get you out of bed in the morning will keep you disciplined and motivated to consistently work and learn. Motivation does not precede burning desire. Burning desire precedes motivation.
Money is not the burning desire. Money is a by-product of the value that you create from the product or service you provide. What you do with the money, what having the extra income means to you, this is a burning desire.
Personally, when I started out on my entrepreneurial journey, my burning desire was to have choices. Choices on how to spend my time, choices on where and what I want to eat without having to worry about the price, choices on where I work and who I work with, motivates me until today.
The stronger your desire, the bigger your motivation, and the higher your chances of taking action.
If you have been struggling with motivation or difficulty to follow through on your goals, start implementing these 3 traits and be unstoppable.
