The Entrepreneur Roller Coaster summary

Have you ever been fired up by a stellar idea, only to have people throw cold water on your passion instead of offering their encouragement and support?

It’s a common response from insecure people to great ideas, especially when you distinguish yourself from everyone else. Your colleagues will respond by trying to shoot down your ideas and drag you down to their level. The best way to handle these reactions is to just ignore them and stay focused on your own project.

As a first-time entrepreneur, it’s easy to feel overwhelmed by your innumerable duties. You’re faced with a mountain of tasks – from picking the best vendors to ensuring quality to staying on top of finances – and every job can seem urgent.

Faced with this situation, it’s essential to prioritize; if you have to concentrate on one thing only, that thing should be sales.

What’s the biggest cost of doing business? The average company spends 65 to 80 percent of its operating budget on salaries and wages.

With numbers like that, it’s no secret that hiring the wrong people can cost you a fortune. But saving money isn’t the only reason to prioritize finding the right people for the job.

Say you’re the founder of a successful business. One of your employees, in an office across the country, snaps at a customer.

You should discipline the employee and his manager for their mistakes, right? Wrong!

Have you ever wondered how hyper-successful people do it? After all, everyone gets the same 24 hours each day and starts with about the same opportunities.

Yet there are entrepreneurs working harder and longer than even US business magnate Donald Trump without any great success. Why?

As an entrepreneur, two things you’ll experience every day are fear of the unknown and uncertainty. To run a successful business, you’ll need to face these fears head-on.

Too many promising entrepreneurs have let fear prevent them from living up to their potential. Avoid their fate by learning how to overcome your fears.

Say you followed your dream and opened a business. You made the rules and did things your way. But as time passed, you drifted from your path; you saw other people’s success and, doubting your own methods, started copying theirs.

Before you knew it, your business was struggling and your passion was gone. Put simply, you can’t live somebody else’s dream.