Learn To Think Like Successful Businessmen
Some of the most successful businesspeople started with nothing but an idea. Their idea may have stemmed from wanting to better their lives or the lives of those around them. It may have just developed out of an inner drive to be successful. It’s easy to say that perseverance and hard work are the reason that these people succeeded, but what does that really mean? Can you train yourself to think with that type of mentality? How can you deal with difficult people or setbacks? You can start by learning from those who have succeeded.
Learning From Some Of The Greatest Entrepreneurs Of Our Time
Jeff Bezos: Amazon.com
Jeff Bezos created Amazon in a garage in Seattle. Before that, however, he attended Princeton and worked as the youngest senior vice president at an investment firm that he founded, D.E. Shaw. Later, he decided to quit to sell books online. That daring decision has put in him the record books as one of the most successful businessmen of all time.
Bezos has a long history of entrepreneurship. He created his first business when he was in high school. His company, the Dream Institute, was an educational summer camp for fourth through sixth graders. After creating two investment firms, Bezos decided to quit the investment world and dive head-first into e-commerce. He developed Amazon in 1995. Today, Bezos is worth over $160 billion, making him the wealthiest American.
Bezos notes that part of the reason that he has been so successful is that he is always thinking about the future. Bezos explains that his success has been the result of thinking two or three years ahead, constantly planning his next move.
Bill Gates: Microsoft
Bill Gates is extremely well known for his work with Microsoft, one of the most widely used and recognized computer operating systems today. Gates’ interest in computers began at a very young age. He took advantage of programs in school and the resources that were available to him as a child. He knew what he was passionate about and went for it. Part of the reason that he has been so successful is that he has really enjoyed what he has been doing.
Today, Gates is worth nearly $96 billion. However, for Gates, success is not necessarily measured by money. Gates has also established the Bill and Melinda Gates Foundation, and he has donated over $28 billion to deal with issues related to poverty, education and access to technology.
Mary Kay Ash: Mary Kay Cosmetics
Mary Kay Cosmetics is a household name in the beauty world. But, Ash had to work hard for her success. When Ash was just seven, her father was diagnosed with tuberculosis. She had to help support her family and take care of her father while her mother managed a restaurant and worked an average of 14 hours per day.
Ash married at age 17 and had three children. She had a few jobs, but she became frustrated when she saw her male colleagues getting promotions and raises while she was left behind. As a result, she struck out and created her own company, Beauty by Mary Kay. Her business model is focused on giving women the power to create their own business.
Dealing With Difficult Situations
Entrepreneurs and successful businesspeople seem to approach difficult situations and people differently. Their reactions to individuals and circumstances are what set them apart in the business world.
Handling Toxic People
You will always run into people who do not believe in your vision. They may scoff at you for your ideas or simply assume you are dreaming too big. Others may deliberately sabotage your efforts out of fear of your success, jealousy, or spite. How do successful businesspeople deal with these toxic influences?
- Control your emotional response.Toxic people trigger stress responses, but it is your ability to handle that stress that sets you apart. TalentSmart has done studies with over one million subjects. They found that top performers are far more likely to be able to manage their emotions in dealing with toxic people. Remaining calm and in control is one of the most efficient ways to neutralize negative people.
- Set limitations.Distancing yourself from people who you know are toxic is the best strategy. However, sometimes you cannot get away from toxic people because they are a big part of your life, like a parent or sibling. In those situations, limiting your time with them or avoiding certain subjects may be the best way to deal with their negativity.
- Rise above.Toxic people sometimes trigger negative responses. Don’t sink to their level – rise above being negative or hostile back to them. Beating them at their own game won’t get you nearly as far as a neutral, limited approach.
Handling Difficult Situations
Dealing with a stressful situation is difficult, but successful businesspeople often turn challenges and adversity into an opportunity. Thriving in tough conditions is the best way to set yourself up for a successful venture. You can use the following quick tips to turn a tough situation into an opportunity for growth. Remember CORD, as these concepts are intertwined:
- Commit. Remember why you are doing what you are doing. Keep your “reason” at the forefront of your mind.
- Outlook. Keep a positive outlook, not only for yourself, but for those you are leading as well. Successful businesspeople remember that their team is looking to them for guidance.
- Responsibility. When something negative happens, especially if it is your fault, you need to take ownership of it. Recognize the error and address it immediately. Making yourself accountable directly allows you to avoid dwelling on why it went wrong. But, it also gives you the ability to focus on how to move forward and learn how to decrease the likelihood that the situation occurs again.
- Detach. Many people take adversity personally. You should keep in mind, however, that your setback are rarely personal. Keep your emotions under control and push forward.
Every situation is different, but how you approach it and react to it will set the stage for your future. Successful businesspeople use these concepts to excel – and you can too.
For related topics, read the previous blog post from HJR Global.