What A Successful Entrepreneur Looks Like
Mike Wandler, President of L&H Industrial, Inc.
Successful entrepreneurs have a strong inner drive that helps them to succeed. Mike and David discussed major qualities that go into making a successful entrepreneur.
Never stop doing what your heart wants. No matter your age, when you focus on something, you can achieve it. Your passion for what you do will help you break free from your current state to a beautiful state, regardless of the challenges that will come to you and your business. Learn from a successful entrepreneur, Mike Wandler, President of L&H Industrial.
Your Passion Will Make You Successful
Whether you are considering, starting a small business or changing career paths, passion must be factored into the equation. While characteristics such as strong values, talent, ambition, intellect, discipline, persistence, and luck all contribute to business and career success, following your passion can often make the most significant difference of all.
When you love what you are doing, there’s nothing that will stop you. Mike shows a great example of this; he feels like there’s no retirement for him. If you love what you are doing, like Mike, find a way to practice it. As you strive to gain understanding, you will then attract the same people. You can create an efficient team to run your business. Sometimes, we are afraid of the unknown, and we sacrifice our passion for something that we think will secure us. But in reality, there is no such thing as security in life. The recent pandemic showed it to us. The only way to be successful in life is to be happy with what you are doing. This is how successful entrepreneurs do it. So if you have the fire in you, leap and follow your heart.
Your passion for what you do should help you balance things in life. Successful entrepreneurs spend time with their families. 58% spend time with loved ones in the evenings and 55% devote their weekends to them.
Get Out From The Prison of Your Making
Entrepreneurs work for hours to achieve their goals, and when they achieve those goals they end up repeating the cycle. Many business entrepreneurs follow the same pattern, making them a prisoner of their own business. Eventually they will realize that they have no life left. They spent too much time working, instead of building businesses to achieve financial freedom. Some people stop working in a corporate job to break free from that "corporate jail". After that resignation, they build their own business. Some entrepreneurs don't realize that as they start working, their own businesses are creating another jail. This would bind them to work for countless hours more than a corporate job would.
The way to break free in this situation is to not get in the way of the people that work for you. Like David, find your replacement and delegate tasks to your team. Of course, it is not easy for you as an entrepreneur to let go. Many entrepreneurs love to micro-manage, but the only way to break free is to free yourself. That's when you know you've built a business, when you can go on a vacation with your family and still have a running business when you get back.
Problems are the spice in an entrepreneur’s life
Every successful entrepreneur has gone through a challenging problem. Mike mentioned that your mindset plays a very vital role when you are in your company's challenging stage. The best advice when problems arise in your life is "to embrace them!" Problems are the spice in an entrepreneur’s life. Mark sees problems as fun; something that wouldn’t make a success worth it without it. When you have the mindset that everything that happens in your life has a lesson to be learned, you will most likely succeed. Although different challenges come to every company, this principle applies to them.
You Are In Control, So BE In Control
Compare a boat that has a rudder vs a boat without a rudder. The one with the rudder will get to the destination, even if storms come along the way. The other one that hasn’t will end up on a rock. In your business, you are in control of the boat. Entrepreneurs succeed because everyone in the boat is doing their part to take the boat to the desired destination. Your team has to have the same vision and passion as you, and with the right leadership, you can become successful in what you do.
When you are in control of your life, regret should never exist. Because those things you haven’t done, you can start doing them now. No matter the age, you can start now. And if you are not getting the results you like because you made the wrong decision, you get to decide again. You don’t have to be stuck, because you are in control and you can choose to move forward and try again
Conclusion
Success as an entrepreneur is measured by how you feel about what you’ve accomplished and how you have impacted others. It’s not always about the revenue growth that makes an entrepreneur feel fulfilled and successful. It’s what you do, it’s the “why” you do these things. The key to success is that you must love what you are doing and genuinely love it. Research shows that when you engage in interests you enjoy, you’re more likely to have feelings of fulfillment, be more productive, inspire others, and succeed. You’re also more likely to engage in the world around you. This is what a successful entrepreneur looks like.
“When you get very clear in what you want, it will happen.”
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