Wednesday, December 6, 2017

Up and Coming Artist of the Week: Matt Small

If you’ve read about me in my past interviews you will know that one of my passions and hobbies is collecting art, as well as vintage cars and wine. Every chance I get I make time to attend art shows, with the intention of increasing my art collection. Although over the years I have collected art from the world’s famous artists, I’ve also looked for undiscovered artists with world-class talent.
One artist who is not yet popular in the mainstream but that I predict soon will be, is the artist known as Matt Small. Immediately I saw his work for the first time I collected a few for my apartment. I appreciate anything great, so please
check out more of his work from: http://www.matt-small.com/
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Interview With Eventual Millionaire: Need an Investor for Your Startup?

Freddie is a serial entrepreneur and investor. He goes into exactly where you need to be to find funding and gives tips on scaling a business. Plus he wants to invest in 20 businesses by 2016 – so he gives you the opportunity to pitch him!
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Featured Interview With Guest List Network:

We sat down with serial investment tech entrepreneur and investor Freddie Achom for an exclusive interview.  Mr. Achom is known to be private but in this chat with him he opens up on what it takes to run a diverse range of businesses in the luxury market sector from Wine, consumer goods to also owning the prestigious clubs and restaurants.
Within this interview we get a chance to find out what it takes to build a successful business empire from scratch, his challenge to invest in 20 start-up companies by 2016 and at the same time find out what it is like to be recognised as one of the nation’s most influential individuals. Freddie has graced the “Power List” of Britain’s most influential Black people multiple times and Evening Standard’s London most influential people.
You proposed to work on investing is 20 businesses by 2016 do you think that’s possible?
Yes I do, I believe its possible being that now the entry barrier to starting a business has gone now due to technology, that’s why more entrepreneurs are emerging.
Currently we have invested in a wide range of businesses from tech, media platforms to solar power projects.
When starting or investing in a business, what are the key factors you look for?
It depends on the type of business sector, each sector is different, but generally the key factors I look for are good leadership skills, a vision for the company and clear sight to revenue / value creation.
What would you say to a budding entrepreneur with a good idea but without the connections or network?
To be honest there are no excuses anymore, the Internet has made possible for anyone to research potential investors and to participate networking events.
Would you recommend aspiring entrepreneur to ditch the employment route and jump straight into business?
No not necessarily, because the mistakes you make as a budding entrepreneur can be avoided by learning through employment, that’s how I got my start, I worked for a commission sales based company before I started in business. Also there’s nothing wrong with working on your business part time.
Do you think the United Kingdom has made it easier for young people to go into business?
The assistance you get in the UK is great for the fact that you have the ability to have access to resources through government agencies and government initiatives.
Would you say the Internet has made becoming an entrepreneur easier or harder because of the competition?
It has made it easier for entrepreneurs and those with great ideas to come together and to achieve their goals and their success.
The great thing about having access to the Internet is that you can start a tech company from your bedroom with little resources.
What advise would you give to budding entrepreneurs that are afraid to go out of their comfort zone?
I always say go into places you shouldn’t be in, that’s what I love most, I love being in a room that I shouldn’t be in.
How important is networking in becoming successful?
I would say networking is 60 to 70% of most businesses but of it also depends on what sector your in. Access to a good network can assist a business to expand or gain traction more rapidly.
How does it feel to make the 2015 Power List Britain’s most black influential people?
It’s always humbling to be recognised for my work in business even though I believe I still have far to go. The most important thing I’m proud of is how they acknowledged my giving back to society, even though I plan to give back more in the future it’s always good to help effect change.
How can anyone send a business idea?
You can send it via the http://www.rosemontgroup.net/
Freddie Achom gives his top 10 secrets to business success;
  1. Choose a business that you are passionate about and is scalable
  2. Make an effort to network regularly
  3. Surround yourself with a smart team
  4. Always remain humble no matter how successful you become
  5. Cultivate your will power
  6. Pursue your goals with boldness
  7. Think long-term
  8. Never take “No” for an answer
  9. Live life as an optimist
  10. Follow your plan of actions
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Can business leadership and acumen be taught in business school?

In a 2011 interview with the ‘Euro Cheddar’ publication, I was asked to share my thoughts on whether I believe entrepreneurs are born, or can entrepreneurship be taught in business school.
Can business leadership and acumen be taught in business school? Is it more intuitive and creative than people think?
Schooling can teach you the formalities of business and help you to ask questions that otherwise wouldn’t have been asked, but I feel acumen is a close relative of nous. This is something I feel is born outside of the classroom, and has its roots in general life experience and the way an individual navigates that experience and learns from it.
In the recent economic downturn, fine wines, art collecting and gold have all weathered the storm. I believe these are more than just ‘investments’ but something tangible and real. How do you feel about the wine world and its ability to excite people, even in tough times?
Its well documented that in times of economic crisis people gravitate towards tangible assets, generally because it is not as transient and abstract as other more traditional investments. In uncertain times people like things they can touch and feel, it provides a reality check, a psychological anchor and a fixed reference point when all else around you is in a constant state of flux. All that is solid doesn’t always melt into the air and some tangible assets are testament to that. The top end of the fine wine market is doing very well at the moment and presents a very exciting future. Unlike other tangible asset classes, fine wine is not only limited but dwindles in numbers over a period of time. That is the main rub of its bankability, in addition to this, one has increasing demand, developing mostly from emerging economies. The future for fine wine looks amazingly bright and shows no signs of slowing down for years to come.
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Definition of Growth Mindset – Keys to investing


In this user-generated video, Freddie Achom reveals key principles to investing and the definition of ‘growth mindset’.
Find practical ways to build a sustainable financial future for you and your family.
“A good person leaves an inheritance for their children’s children, but a sinner’s wealth is stored up for the righteous.” – Proverbs 13:22
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9 essential start-up tips for entrepreneurs

Here are nine practical start-up tips to get you started on your entrepreneurial journal towards success.
1. Choose a business that you are passionate about. Without passion, it’s impossible to work hard in tough times.
2. Do your research. Learn everything about the industry you are in, this will drastically increase your chances of success. (Examples – Attend seminars, subscribe to trade magazines, meet up with like-minded individuals etc)
3. Choose a business model with huge scalability potential, avoid starting businesses in declining and obsolete markets.
4. Think long-term. Those who live for instant gratification sabotage achieving lasting and sustainable success.
5. Work with a sense of urgency.
6. Regularly analyse the results you get. Focus on what works and eliminate what is not working.
7. Surround yourself with people smarter than you. Behind every successful company is a smart team.
8. Be persistent. Learn to never take “No” for an answer.
9. Remain humble at all times.
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Meet the man who learned to read and trade stocks in prison – Curtis “Wall Street” Carroll


A negative can be turned into a positive with optimism, here’s proof. 
Curtis “Wall Street” Carrol reveals how he learned to successful trade stocks in prison.
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How the economic machine works – Words of wisdom by Ray Dalio


How does the economy really work?
This simple but not simplistic video by Ray Dalio, Founder of Bridgewater Associates, shows the basic driving forces behind the economy, and explains why economic cycles occur by breaking down concepts such as credit, interest rates, leveraging and deleveraging.
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Top 30 inspirational Freddie Achom quotes – Entrepreneurship and investing

We’ve compiled a list of quotes from serial entrepreneur and investor, Freddie Achom. 
Achom is the CEO of Rosemont Group Capital Partners the London based early stage investment firm. 
Freddie Achom on entrepreneurship
1. I’ve never been confined to an industry or market sector. I am a very analytical and data driven type of individual, which is crucial in becoming an investor. Of course you need to be passionate about the business you set up. Source 
2. Have a clear understanding of your business, the market sector, have a clear USP that separates you from your competition and be flexible in executing your idea. Source 
3. I’m a firm believer in that adage that you should “never put all your eggs in one basket.” I’ve seen many entrepreneurs spiral downwards financially due to pigeonholing themselves in one sector, which I don’t subscribe to at all. Source 
4. You must look at the size of the market; scalability of your business proposition; value proposition itself, and have a clear road map most of all on how to execute. Source 
5. The great thing about having access to the Internet is that you can start a tech company from your bedroom with little resources. Source 
6. I always say go into places you shouldn’t be in, that’s what I love most, I love being in a room that I shouldn’t be in. Source 
7. I admire a lot of entrepreneurs for their open-mindedness and their willingness to see beyond certain stereotypes. Source 
8. I simply try to balance by prioritizing but never sacrificing my family and children for work. Source 
9. I think where many entrepreneurs go wrong is placing too much emphasis on work and neglecting their family. Source 
10. Represent your product because you just have to understand your product in and out and therefore you are your product. Source 
11. The best products, the best solutions, can be explained in 20 seconds flat because simplicity is always the best. Source 
Freddie Achom on investing in start-ups

12. As a founder, you need to be able to have a very expansive mindset and say, “Okay, the product was supposed to do this, but maybe we’re onto something because this group of people is using it this way.
13. We look for products and solutions that are globally scalable and are not just single market focused. Source 
14. I am a very analytical and data-driven type of individual, which is crucial in becoming an investor.
Freddie Achom on entrepreneurship in Africa

15. Anyone who claims to be an entrepreneur would be shortsighted to disregard Africa. I believe Africa is the way forward, the resources, and the growth over the next ten to fifteen years will surpass any other continent. Entrepreneurs should look at Africa as an option to conduct business or explore in general. Source 
16. I strongly believe that it’s only a matter of time until the digital tech space in Africa will begin to evolve more rapidly due to the rising growth in population, which will soon translate to larger demand for tech services that will give birth to more e-commerce and social media platforms similar to the rapid rise of telecoms in Africa. Source 
17. A lot of African entrepreneurs are not bound by sectors, not bound by particular industries or sets of rules, they have this mentality that they will learn on the job. Source 
Freddie Achom on dealing with setbacks
18. I recently watched a PBS documentary on Barack Obama, and it described how he lost to Bobby Rush in the year 2000 to become elected into the U.S House of Representatives. Rush also went on to verbally insult him by calling him an educated fool. Imagine if he won, he most probably wouldn’t run or become the President of United States. Young people need to read this. Source 
19. Failure, to me, is the pathway that leads to success; so temporary failure is a great thing. Source 
Freddie Achom on self-belief
20. Once you have convictions in your ability you are already halfway there. Source 
21. Whenever I had a setback or a negative thing occurred, I took it has a personal challenge for me to overcome. Source 
22. I would not change anything in the past because everything I’ve done led me to where I am today. Source 
23. Most people’s fear in business is fear of failure, but failure is not a destiny but a pathway to achievement, so I always try to keep that in mind. Source 
24. There is a talent to opening doors. Not everyone can approach a company or an individual unannounced. You have to be very bold. You have to be very thick-skinned. Source 
25. I am a great motivator and I love getting the best out of people. Source 
26. I like pushing people to achieve what they feel is beyond their ability. Seeing people succeed is the best part. Source 
27. If you believe your race is a barrier preventing you from moving forward then it will.
28. Without self-belief it’s impossible to achieve your desired outcomes.
29. If you want to reach any worthwhile goal, don’t seek instant gratification.
30. I spent my time increasing my knowledge on diverse topics so that , if a conversation will spark between me and someone, I will have an opinion on it.
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How I’m helping entrepreneurs get ahead

After many years in the corporate world, I’ve been blessed to be extremely successful. I’m proud of my business and life achievements – and have always been clear in my vision to ‘give something back’.

SHARING THE KNOWLEDGE

Helping young entrepreneurs find their way in the world of business is important to me. Having learned so much in my entrepreneurial duties, and having maintained the willpower and determination to forge ahead, I want to help others to follow in my footsteps.
This is why I created and launched the Rosemont Group Foundation.

MY VISION IS CLEAR

The Foundation puts my wish to help the next generation of business leaders into action.
We aim to provide a platform to nurture young talent. I want to be able to inspire others to succeed, including people who feel they’re at a disadvantage.
The Foundation offers all sorts of business mentoring programmes, so that we can provide support every step of the way.

OPENING UP THE WORLD OF BUSINESS

We want to open up the world of business to those who have the drive, determination and the dream to take it forward.
Helping young business people set out their vision, and giving them the tools to start implementing their ideas is a rewarding experience for me, and others in the Group.
The Rosemont Group aims to inspire the next generation of business leaders. We provide facilities and practical help, as well as mentoring and support. The idea is to help future entrepreneurs start their business somewhere they can be guided along the way.

WORK PLACEMENT SCHEMES

As well as our Business Mentoring Programmes, we also offer RG Work Placement Schemes. These give young professionals (aged between 18 and 27), a way in to internships and job opportunities in sectors as diverse as IT, Finance and Fashion.

INSPIRATION FOR ALL

Above all else, I want to inspire young talent, help them grow and learn and show them that anything is possible. As I have such a varied background and have been fortunate enough to excel in different areas of business, there’s a vast amount of experience and knowledge to impart.
It was also my hope when I started Rosemont that it would inspire and encourage other entrepreneurs with a similar history to me to give something back to future generations.

GETTING OFF THE STARTING BLOCKS

Anyone with an idea and access to technology can start their own business today. There are endless ways to utilise creative thinking and turn those ideas into a viable company. I want to help entrepreneurs understand the routes they can take into market with their idea. This involves sharing knowledge and experience, but also best practice.
It also includes support when they have doubts and fears that their business dreams can’t be achieved. Planning correctly, understanding your product and market, and having determination are all essential to successful entrepreneurship. After all, it worked for me!
For more great content, visit freddieachom.com

Let’s talk about private equity in 2017 and beyond

We’re looking at a hugely unstable political time globally, and particularly in Europe, which has been influencing Private Equity (PE) deals so far this year, and will continue to do so.
A range of seismic changes in the political outlook of the UK (with Brexit), the transition of power to a Republican government in the US and vital elections in Germany and France are all having an effect.
As Brexit negotiations are just starting, and we’ve just seen the surprise snap General Election return a minority government, this political instability doesn’t appear to be going anywhere soon. Is it surprising then that studies* are consistently showing that professionals are less optimistic than they were this time last year?

FIRST QUARTER SHOWS STRONG PE DEALMAKING

Interestingly, despite a general dip in optimism, and the ongoing political upheaval, reports* show that Q1 2017 was strong for European PE deals. PE deals completed were valued at €82.5billion, only slightly lower than the amount recorded during Q1 2016 (€89.8 billion).
This €82.5billion was spread across 554 transactions, and reflects a high amount, despite being registered as a decline. It only shows as that due to the inflated figures following the initial recovery from the global recesson in 2015.
This steady activity throughout Q1 put down to PE firms carrying out successful fundraising in addition to a less expensive market. These factors have made it simpler for PE firms to flesh out deals.

INCREASING DEALS WITHIN TECH SECTOR

In Europe, as in the US, PE investors are looking for more deals within the tech sector. Deals in IT made up around 20 per cent of all completed deals in Europe. There’s no doubt that tech investments are becoming more attractive as investments for PE companies.
For me, they’ve always been a pull, due to the relatively fast start up times. The fact that online and digital companies can generally get going within weeks, rather than months or years, and the fact that they generally need lower operating capita to get products up and running, makes them the best choice for early investment.
Exiting JustGo by selling to Tunecore in 2016 is a great example of seeing the visionary potential in a tech start up, working with them to grow the company and making a great deal when the time is right. Being confident enough to invest in a vision and working with entrepreneurs remains our primary investment area.

FUNDRAISING WILL LIKELY REMAIN HIGH

In 2016, European fundraising reached a high due to the optimism of post-financial crisis. Throughout this year, it’s likely to stay strong. The Q1 results bear this out, with €18.7 billion raised across 30 funds. Ireland and the UK were responsible for most of fundraising activity, with 72 per cent of total money raised.

EXITS CONTINUE TO DECREASE

The number of exits continue to go down, in an echo of global trends. During the first three months of 2017, there were 234 exits at a value of €41.2 billion. It looks like selling to PE investors or to strategic investors will be the best exit channels for 2017.
As with every year, active management of portfolios is the key to success for all PE managers. The most important way to increase value is with new products and services, closely followed by add-on acquisitions.
Targeting the real equity gap by judiciously offering seed funding to start ups can pay off hugely. We invested in AppyParking at the earliest stage and have seen it grow into an enormous success, thanks to accelerating their growth and creating a sustainable investment model. Yes, it’s about protecting our investment, but it’s also about helping visionaries soar ahead.
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Freddie Achom wins 2017 European CEO award

Congratulations to Freddie Achom for receiving the award for best venture capital (seed) entrepreneur from European CEO.

Watch out for the interview with the founder of Rosemont Group Capital Partners, Freddie Achom and  European CEOcoming soon. 

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Freddie Achom’s business tips for young entrepreneurs – You can’t escape hard work!

One of the questions aspiring entrepreneurs ask me often is “What is the secret to success?” They ask me this question, hoping that I will give them a magic key to unlock prosperity, but I always respond with the answer “Hard work”.
I believe that people who work the hardest (with a combination of working smart) turn out the most successful. In the words of Napoleon Bonaparte, “Victory belongs to the most persevering.”You have to be persistent and consistent in reaching your goal until you find a way to break through and surpass obstacles. Many young people today lack the work ethic needed to achieve their aspirations. We live in a society plagued with the instant gratification mindset. The truth is you cannot escape hard work if you plan on being a success.
I believe the young generation needs to understand the value and benefits of a work ethic. With hard work comes experience, innovation, knowledge and self-belief.
I’ve been taught from an early age that being committed in your field will make you smart, if you are willing to approach reaching your goals from every angle, you will eventually find out what does and does not work. The late Thomas Edison said it best, “I have not failed. I’ve just found 10,000 ways that won’t work.
Video below – Freddie Achom on the importance of work ethic (Source – Rosemont Group Foundation)
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An entrepreneur’s guide to negotiating

Ultimately at some point in every business, we all need to negotiate. If you’re an employee, you might want to strike a better deal with your boss in terms of your pay and conditions. Or, you might be a sales person for whom the ability to negotiate is absolutely critical to getting a sale that works for both the customer and the company you work for.
As an entrepreneur with a wide variety of business interests, I come at this issue of negotiation from yet another angle – that being able to negotiate well is a fundamental part of growing your  business successfully. So, with that in mind, here are a few lessons that I’ve learned over the years about the art of negotiation – I hope that you find them useful.
  1. Listen
For me, this is the number one skill that any good negotiator has to have. Think about it – in any sales situation, the best outcome is a ‘win-win’ result (more about this in a moment). But in order to reach this point, you need to have a thorough understanding of what the other person actually wants. This is where good listening is essential. It may actually be more about what they don’t say that what they do – but you’ll never find any of this out if you’re endlessly trying to dominate the conversation. It’s also worth saying that by constantly talking you’re more likely to give some of your own bargaining position away, simply to fill the gaps. Let the conversation breath, let the other person talk, listen to what they say and respond to the underlying needs they are revealing, whether they realise it or not.
  1. Win-win
To some business people this might sound counter-intuitive – we all want to win, and if there are winners then there must be losers, right? Well, look at it another way – the other person is obviously more likely to want to strike a deal with you if they think that they are gaining something. Unless they’re under enormous pressure (or are just very poor negotiators), they certainly won’t want to be worse off as a result of dealing with you – so showing them how the deal you’re offering them will improve their situation (rather than simply trying to get the best you can for your business, regardless of the outcome for the other side) should deliver a better result for everyone.
  1. Show the other person how you’re going to meet their needs
Closely linked to the other point above, this is a fundamental part of any negotiation. Those of you who work in sales will of course be very familiar with this idea – that there is no sense in talking to a prospective customer about the features of your latest product without explaining them in terms of how it will solve the particular needs that they have. Someone who finds complex interfaces confusing is unlikely to be impressed by a lengthy sales talk about a mobile phone that highlights its hundreds of features. The same principle applies in any other form of negotiation – by actively listening to the other person you’ll have a clear idea of what it will take to satisfy their needs – and will be able to then explain that to them clearly and powerfully in order to reach a result that feels like a win-win for both sides.
  1. Don’t give anything away without getting something in return
Freebies, or unilateral offers rarely work. Regardless of any temporary warm fuzzy feeling that is generated between the two parties, giving something away without anything being given something in return will only weaken your position and strengthen the other person’s.
  1. Aim high – but also be prepared to walk away
This is a question of the attitude you take in to a negotiation – I strongly believe that you should be upbeat and optimistic in your expectations of what can be achieved. Aim to achieve even more than you would otherwise expect, and you may well succeed. That said, it’s also important that you are prepared to walk away without a deal being done – there is no point in reaching an agreement that is unsatisfactory for either party because ultimately it won’t last.
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Why I invest in businesses and top tips for success

Investing in other businesses is a real passion of mine. As an entrepreneur I’ve enjoyed seeing the businesses I’ve put money into grow and become an increasing source of both pride – and of course income – over the years. A common question I’m asked by many people is why I invest in certain businesses and not others – and whether I can share some my tips for success – so I thought this could be an interesting area to investigate in this post. I hope you find my advice useful.
Be passionate about the business
This might seem obvious – but I believe it’s absolutely crucial to being an entrepreneur. ‘Passion’ is a much over-used word (I can’t tell you how many CVs I’ve seen it on), but it’s actually fundamentally important that you feel excited and yes, passionate, about the businesses you’re putting your money into. The enthusiasm that you feel for your new venture will be felt by others too, helping you to recruit and retain the very best people successfully, and most importantly build a business that is ultimately better than it was before your investment.
Diversify
Investing in something that you’re passionate about doesn’t mean always sticking to the things you know, however. I strongly recommend diversifying your investments in other businesses – looking at sectors and industries that aren’t dependent (or vulnerable to) the same cycles of supply and demand that your core business is. It will give you the longer term stability you need to continue to grow right across your business portfolio.
Do your research
It never fails to amaze me how many people miss out this very basic, but vitally important stage when investing in a new business. They see an opportunity – often just trusting their ‘gut instinct’ – and go for it. Sometimes it pays off – but more often than not it doesn’t. So, my advice is to make sure you don’t skip the hard work – read the annual reports, look through the company’s financial history, hire the professional advisors you need and meet the people who run the company. It is absolutely essential to get a firm understanding not just of the direction that this particular business is heading in, but also the context in which it is operating – look at the wider industry, and the pressures and challenges the company you’re looking at is likely to face in the short, medium and long term.
Know your exit strategy
Things don’t always run smoothly in business, so it’s always wise to know exactly how you will extricate yourself from any investment in a new venture should things not work out as you’d want. A really important part of this is to be completely up-front about any exit strategy you have with the people whose business you’re thinking of investing in – they’ll appreciate your position (and your honesty), and it will allow all parties to operate on the basis of a clear understanding of the risks that all sides are prepared to take.
For more great content, visit freddieachom.com.

What drives the world’s top entrepreneurs?

Entrepreneurs drive the economy, even in tough times. Entrepreneurs push through economic slumps, using drive, creativity, initiative and, crucially, talking to the right people, to start their businesses.
As entrepreneurs, we face adversity, criticism and regulatory barriers. Those of us that succeed treat these as challenges, not problems. We leap over them and don’t give up, even if we are knocked back the first time. Or the second time.
Building demand for our products or finding that gap in the market, whichever route we take, we know that we’ll overcome. But what is it that continues to drive successful entrepreneurs, when so many give up?
While anyone with an idea can take it to a seed funding business like Rosemont Group Capital Partners and Rosemont Group Foundation, throwing money at an idea won’t make it a success. There has to be the innate talent of the creator there too.
When we think of entrepreneurship, it generally follows certain phases:
  1. New business stage – the start of it all. Innovation, creativity and drive marks this phase. Seizing opportunity even when there may not be an obvious route through is key.
  2. Structured phase – there’s a bigger focus on service, a slower rate of growth and innovation, decision making by more people and a team approach. This is where the entrepreneur shifts gears from the high of the initial phase to managing a company. Delegation, communication and team work becomes the focus.
Both phases have different demands for the entrepreneur – but they overlap in many cases. Building and maintaining relationships is always vital for the entrepreneur, whether to get the idea off the ground, or to shift the focus onto the future in the later phase.
How the entrepreneur responds to the demands of his or her start up will separate the successful from those that fail. This comes down to a mix of knowledge, experience and skills, as well as innate talent and ability.
And while dreams of success drive top level entrepreneurs, I’ve identified seven drivers that the world’s top entrepreneurs inhabit. Follow these tenets and you too could see yourself making a success of your dream.
  1. Understand your brand – successful enterprises are clear about who they are, what they can offer and they are able to communicate this to others. Crafting the persona you want other people to see as your brand and your start up is invaluable for your success. This personification of your brand will allow you to connect with investors, customers, suppliers and employees. You need to influence and motivate.
  2. Jump into challenges – you will have to constantly shift your thinking as challenges jump out at you along the way. There is always a risk in starting your own venture. Successful entrepreneurs innately understand the world they are launching into, are able to be flexible, deal with ambiguity and sometimes little resources. These are exactly the factors that put people off. Successful entrepreneurs turn towards these challenges, they seek them out and they understand that to win, they have to faced them.
  3. Think ahead – creative thinking beyond what already exists marks out a successful entrepreneur. Something hasn’t been done before? Good! That means there’s a gap for it to be done. Stretching the imagination and constantly looking at a product or service over and over with new eyes every time separates out those that succeed.
  4. Inhabit your brand – this is about communication and PR. The most successful entrepreneurs are their brand. This increases their chances of persuading the unsure, promoting their business and communicating their success.
  5. Retain focus – the most successful entrepreneurs judge every decision they make as a yes or no based on the possible effect on profit. They set their goals and they stay focused on them. No matter what.
  6. Never stop learning – the best and the brightest entrepreneurs know that they can always learn something new. They’re active and preoccupied students of their own business and constantly strive to get more input.
  7. Early stage self-reliance – in the start up stages, entrepreneurs find themselves taking on every duty you can think of. The successful among them are prepared to muck in and do whatever it takes. This sense of personal responsibility is what drives success. There is then a point where the self-reliance must shift to delegation, or the business will stall.
  8. Work on relationships – constantly building relationships is so important when it comes to building a business. You will have to interact with all kinds of different people at every stage. Winning entrepreneurs understand this and have no qualms about building relationships enthusiastically and effortlessly.
For more great content, visit freddieachom.com.