7 Business Tips From People Who Are Younger And Richer Than You

Mark Zuckerberg Is King

A site called Under30CEO.com mined a “Young Rich List” published by Australia’s BRW magazine for tips and notable patterns among self-made millionaires.

The entrepreneurs studied started companies ranging from coffee shops to IT services and made a killing.

Since they have an average net-worth of $65.5 million, it’s worth listening up.  Here are the takeaways:

  1. Think big, but start small. “Before you achieve that first million, you have to get your first dollar.”
  2. You’re never too young. When you’re young, you can take more risks. There usually isn’t a mortgage to pay, a family to support, and your peers are still developing their careers. There is less at stake in your twenties.
  3. Be willing to rough it.  A lot of entrepreneurs blow money being frivolous. You won’t always have to rough it, but the beginning needs to be a sacrifice.  Skimp on things that aren’t pertinent to your business so you can finance the things that are.
  4. Fake it until you make it.  Entrepreneurs must appear bigger than they really are to gain credibility among customers and competitors.
  5. Back yourself. Be aggressive and confident in your product.  If you’re not, no one else will be.
  6. Focus on the people.  If employees are happy and have a positive work environment, your company will be more productive.
  7. Have clear targets.  Goals influence business direction more than any external factor.  They can help focus business management for the longer-term.

For more tips from the young and rich, read the full article on Under30CEO.com >

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