Success is a mindset, do you have what it takes?
The 2 most important skills in business concerning your character and your mindset. If you place yourself correctly, it is impossible to not make money
Happy Sundays Hustlers!
Sunday is the day we refine ourselves, reflect on our values, and improve our mental state.
Our economy is more globalized than ever. In this open world, while money is the international language that everyone speaks, human values such as integrity and honesty that you possess are the critical value elements that will make you a successful businessman anywhere you go in the world. Here is how you can work on these “value skills“ to become a global tycoon:
1. Integrity
Integrity refers to the adherence to a set of moral principles and values. In the business world, this means being honest and transparent in all dealings, whether it be with customers, employees, or other stakeholders. Entrepreneurs who possess integrity are seen as trustworthy and reliable, and this can help to build strong relationships with customers and employees. Customers are more likely to do business with companies they trust and employees are more likely to be loyal to companies that they feel are trustworthy.
Story
My friend Jacob is a big-time “gym bro“ who optimizes for everything. Having started his gym career at 14, he knows everything there is to know to reach success in the gym. His diet, workouts, and lifestyle are completely shaped around these values that he has determined a long time ago. Therefore, he never drinks alcohol. He is the guy with his sparkling water + ice + lemon combo in the club.
One Saturday night when I was incredibly happy for signing a huge client that changed the entire scope of my business, we were out in the club. I was in a state of euphoria and I wanted to share this monumental moment with my friends with bottle service.
There I saw Jacob drinking along with all my other friends. This made me incredibly happy. The reason behind that is that Jacob who strictly does not drink was breaking one of his definite rules in life for one of my biggest moments yet. While there were 12 people at that table drinking, none of them made me feel anything.
The fact that he shared this rare moment for my victory has made this act incredibly valuable. This anecdote is a depiction of the concept of rare value that comes from integrity. The same principle applies when a brand gets out of its normal line to create something different.
2. Honesty
Business is a process. It is not only done today. It was done yesterday, it is done today, and it will be done tomorrow as well. Breaking the honesty rule will deteriorate every important aspect of this process.
Entrepreneurs who are honest about their company's capabilities are more likely to build trust with customers and employees. Honesty also helps to create a culture of transparency, which is essential for building a successful and sustainable business.
People are more likely to do business with companies that they feel they can trust, and companies with a good reputation are often able to charge higher prices for their products or services.
Story
When I was at the beginning of my course business, I needed the services of a marketing firm for their organic growth services. In the initial meeting, they shared the fact that they only worked with clients of a certain size. At the time I had around 100 students, which was way below their limits. As this was a service that I could buy regardless, I could have just gone ahead and given them a made-up number about my students. However, instead, I have told them the truth and they shared that would regretfully be a not good fit at this point in my operations.
Going forward 9 months, where I had 1000 students, the same firm reached out to me again to check in with my current situation. This time having acquired the minimum limit that I needed, they were ready to offer their services.
With their service, I was able to go from 1000 students to 5000+ students in a matter of 2 months which has previously taken me a much longer time.
Final Remarks
Integrity and honesty also help to create a culture of ethical behavior within the business. When employees see that their leader is committed to ethical behavior, they are more likely to follow suit. This can help to create a positive and productive work environment, which can improve employee morale and motivation. Additionally, when employees feel that they are working for a company that they can be proud of, they are more likely to be engaged and motivated to do their best work.
Behind all the bureaucracy, numbers, and systems, Business is done by individuals. Therefore, possessing these international values will get you far in business.
Thanks for reading this Stack, I hope you have gained value that you can integrate into your own entrepreneurial journey.
Stay Hungry, Stay Foolish!
- Steve Jobs