6 Traits ALL Successful Entrepreneurs Share | (animated)

from Elon Musk to Mark Cuban Tim Ferriss

Arianna Huffington Gary Vaynerchuk Bill

Gates if you know any of these names

congratulations you're an entrepreneur

at heart it's been said that success

leaves Clues so what are those top

entrepreneurs all have in common so we

can learn from them we're going over the

six traits all top entrepreneurs have

now and you don't want to miss any one

of these especially the last ones

because they're super important trait

number one the past does not equal the

future now let me tell you a story see

one day Evan Williams got the great idea

to make a podcasting platform when it

was all said and done oh do was live so

you can imagine Evan was pretty crushed

when literally months after Apple

announced they had a new podcasting

section of iTunes and his company OTO

was crushed

now maybe know the name Evan Williams or

maybe not but you definitely know that

he hit it big when he founded Twitter

see what Evan Williams knew that just

because his past had failure didn't mean

his future couldn't hold success just

because one app failed didn't mean

another one couldn't succeed before

launching the Huffington Post her second

book was rejected by over 36 publishers

that's the story of Arianna Huffington

similarly Tim Ferriss had a similar

story with the 4-hour workweek have you

heard of this book maybe even read it

Tim had the belief that the past does

not equal the future Tim got rejected by

over 25 publishers before the 26

actually accepted his book now to put

that in perspective how many of you

would approach 26 people and ask them on

a date after hearing no for 25 times

would we even make it past 10

but it's that tenacity to keep going and

not listen to the past because all top

entrepreneurs know that the past does

not equal the future the second trait

all successful entrepreneurs have this

is that it's never too late you see one

major trap people fall into is thinking

I'm too old I see it time and time again

on the YouTube comments people thinking

that ship has sailed it's too late it'll

never happen for me yadda yadda yadda

well listen to this at age 24 Stephen


was working as a janitor and living in a

trailer at age 28 JK rowling was

depressed and a single mom living on

welfare Morgan Freeman didn't get his

first major movie role until age 52

Samuel Jackson at 46 you see it's never

too late to start there's no telling

when you're going to be successful it

might happen tomorrow it might happen a

year from now it might happen at age 52

but the only sure way that you're gonna

fail is if you quit trait number three

all successful entrepreneurs have they

use what Brian Tracy calls zero based

thinking now this is the concept that

says one question it's a powerful one

that you can ask whenever you're feeling

stuck that is if I started over today

how would I do blank if everything

stopped today and you had to reset how

would you approach it how would you

approach your business if you had to

start over today how would you approach

your relationship if you had to start

over today your health your finances

this is how you avoid past failures

holding you back at age 37 Vincent van

Gogh failed as a missionary and he

decided to go to art school can you

imagine that

van Gogh the famous painter see his

paintings everywhere it getting sold for

tens of millions of dollars he uses euro

based thinking he feel that one thing he

said okay this isn't working what would

I start over today let me go to art

school and it was a success when you do

this you avoid the thing called sunk

cost that psychological principle that

is the feeling that because you invested

so much time or energy or money you

can't walk away that's a trap

that's a psychological trap that keeps

us stuck how would that work in gambling

I already put too much in you know I

can't get it back I just got to go

all-in not very well and it doesn't work

well with entrepreneurs all

entrepreneurs use some form of zero

based thinking and you and I should too

the fourth trait all successful

entrepreneurs do they build on their

past failures no it's not truly zero

based thinking since we learn from all

the previous lessons right I love the

story of Reed Hoffman he started an

online dating social network sites

social nets

ultimately failed so hoffman though what

did he do he used all the experiences he

gained building that social net dating

site and he put it into a new platform

that you probably heard of called linked

in it eventually sold to Microsoft for

26.2 billion with a B dollars okay

imagine dr. evil coming out with the

pinky 26 over 26 billion dollars okay

and I can't live on that but that's a

good starter hey so great entrepreneurs

they build and they compound past

failures they don't get crushed by them

in your life I know you've had failures

they're not truly failures if you take

the lessons from them the only real

failure is if you don't learn from it

and you repeat it in the future that's

how you get ahead the fifth trait all

successful entrepreneurs have it's been

said that readers are leaders it's also

been said that the more I learned the

more I earn famous quotes by some

successful entrepreneurs in fact Bill

Gates has reported to read over 50 full

books per year Warren Buffett reported

reading between 600 and a thousand pages

a day no matter who you look at time and

time again the top entrepreneurs know

that the more they learn the more

they'll earn they feed their mind they

know that knowledge is the fuel for

their ideas their creativity and their

energy one of the biggest complaints

though most people make and you know

I've made it myself in the past and I

know you've probably made it too is what

I don't have the time okay it's not the

money because books are dirt cheap you

can get them on Amazon for 50 cents it's

I don't have the time sitting down in

one place is hard it's hard to get

yourself with all this passion and

energy to really sit and you know do

nothing for hours and hours on end

that's where this excuse falls short

because audible is one of the coolest

tools I've used the past couple years it

takes your audiobooks and it hands down

my favorite tool you can devour top

audiobooks while doing other things

literally learning as you're working out

or cleaning the house or in the shower

something like that someone's reading to

you you can put it at one point

five-speed easily find yourself

consuming one to two books a week

watch out Bill Gates coming for you

there today's sponsor and if you're into

this I'll put a

link below and you get a free audiobook

with your trial of audible some of my

favorites if you're in entrepreneurship

and you haven't read any of these these

are phenomenal places to start I'd

recommend the 7 Habits of Highly

Effective People the 4-hour workweek or

unlimited power if you haven't read any

of those don't read them have someone

read it to you go down there click that

link it's free the top entrepreneurs

they all feed their minds

knowing that knowledge is the fuel for

success the last point number six the

treat that all entrepreneurs have this

is the concept that they're a purple cow

let's just say we're driving down a road

trip okay and we're taking a long long

road trip down i-5 over here and we see

all these farms on the farms you see

cows there's a brown cow there's a black

cow there's a white cow thousands and

thousands of cows brown white black

brown brown black black white brown

black purple black white book what which

one do we look at the purple cow which

one do we stop at the purple cow which

one do we make remarks about the purple

cat why because it's contrasting its

different it stands out you see how that

works so I got a question for you when

you think of soap do you connect

emotionally does it make you feel good

about yourself if you're like most you

couldn't care less let's talk about the

Purple Cow and soap now that's where Dov

stepped in with their real beauty

campaign featuring non photoshopped

women being comfortable in their own

skin promoting natural self-acceptance

sales for their soap skyrocketed as a

results see it wasn't because their soap

made people emotional it wasn't because

their soap made people feel good it was

their purple cow positioning it was the

story behind it in this case the clean

purple cow this concept really made

their sales move it last one I promise

if you want to be successful all the

best companies have some way of being

that purple cow of not being forgotten

of standing out in the crowd when

everyone else

Ziggs you got a Zac stand out to succeed

don't be lost in the crowd and own

your uniqueness those are the six traits

of all entrepreneurs have now I'm

curious which one was your favorite idea

today do you have anything to add post

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thanks so much for being here

I'm Clark from refusing to settle and

until next time stop settling start

living see ya