I have been running my own businesses now for over 13 years, and during that time I have been approached by countless people all asking me pretty much the same thing, and that is, “how do I become successful in business?”
If you ask 100 people that question, you are going to get 100 different answers. This is because most of the people you ask are going to talk to you about a specific business model, sales idea, or marketing tactic, etc…
In my opinion, the answer is simpler than that; however, I can’t actually take credit for the simplicity of my answer.
The Best Advice I’ve Ever Been Given
Back before I started my last company, I was given some business advice that, at the time, I thought was the dumbest thing I’d ever heard. It didn’t make sense to me, because I wasn’t yet in business.Â
Years later, I’ve come to realize that it was some of the smartest advice that I’ve ever received. I say this, because, after following the advice, I ended up building a company that I sold for $1.2 million back in 2008.
In the video post below, I share with you exactly what this advice as, as well as how I put it to use in my own business, and, it is my hope that, after watching this video, you will do two things; share the video with others, and take my advice to heart.
A Terrific Example
Shortly after publishing this post, I can across another awesome example to illustrate the point I’m making in the video above. Check out the screenshot below, and pay special attention to the massive boost in revenue that came from an idea that this company would have never had, had they not already started the business.
What Do You Think?
I definitely do not have a monopoly on all the best ideas on what it takes to succeed in business as I can only speak from my own experience. I’d love to hear what you think, so please share your ideas, thoughts, and comments below. Thanks so much!
Is some wrong with the video permission “This video is private.” ?
Same here. “This video is private.”
Yes, that was a mistake. Its public now. Sorry about that!
Hi Trent,
This is a good video. Action is so important to start. But as you mentioned in your video, it’s also important to research and educate yourself as well. It’s also important to build relationships. A lot of these things people are unwillingly to do because it’s uncomfortable and it makes them anxious.
I’ve found that the only way to get past anxiety is to take action.
Thank you for this video. It’s a great reminder to get started.
Hey Robyin,
Welcome to the OIL community, and thanks for taking a moment to share your thoughts with us. I’m happy to hear that this post resonated with you
Yes – totally agree with that advice! So many people get caught up in writing long business plans, doing tons of research, planning, planning, etc. and never actually start their businesses. They read too many online articles, buy too many $29.99 eBooks and then wondering why they’re not successful. The reason they aren’t successful is because they haven’t started their business!
Great video, Trent – keep it up!
Thomas
Thanks mate
Trent agree on this although have to say I was a sucker to not starting business so many times because I constantly came up with negatives. Now I’ve started a new project and its been tuff but Ive tweaked it here and their, evolved and now got it runnin smoother. Theres just so much more opportunity to evolve now Im doing it. Ive learnt more in 2 weeks working on it than in 2 months planning and talking about it!
Good to hear you are underway and have realized that doing is the best teacher of all.
Another great piece of advice Trent.
I agree with you whole heartedly Trent. Doing is much more important than “theorizing”. We can only learn when we take action even if we make mistakes.. We can learn from them and keep going. Quitting is not an option.
xoxo,
Eren
Hey Eren,
Welcome to the OIL community and thanks for sharing your thoughts with us!
Good video and so true and not only in business. Without action nothing happens and nothing changes. Sometimes you just need to jump in and get your feet wet. I don’t know but I guess I’m still looking for my red square. But everything I do brings me one step closer to finding it.
Trent another great content from you. I always read this from you and i quite agree with it. if you are not in business, how can you succeed? C’mon this is an uncommon simple sense.
Sheyi
good summary. however i’d like to point out that doing business online is not the same as starting a multi million dollar venture that requires a million bucks to start, especially when you are raising funds (begging someone to invest in your idea).
business plans, although not all that important when starting a blog, are critical for large scale fortune level companies.
it continues to amaze me how many continue to belittle decades of higher education that is constantly proven over time.
so again, while some businesses do not require them, in fact they are a hinderance (i.e. blogging), as a graduate of a top ten business school, i would never in my right mind start, or advice someone to start something large by shooting from the hip and simply taking action alone
yeah good point. You can only learn so much from reading and studying but actually being in business will excel your learning years beyond what you could learn otherwise. With all the skills you will pick up you can use to create new products, pivot and grow your business. Getting started is the hardest thing getting those first customers is even harder. The thing is when your in business you are constantly getting free data from your customers that you can use to improve your services and products. This data you can only have if your in business. Thanks Trent!
This is fantastic advice Trent, I remember it from one of your podcasts.
I experienced the positive aspect to the theory only recently, when I joined a mastermind group for building niche sites. Within a few months I was offered a JV for a huge project. This would have never happened if i didn’t take the initiative, worked hard on niche sites and networked with similar people.
This is the real deal folks, Trent isn’t just winding you up
Hey Chris,
Which mastermind did you join? I’ve actually just started one with a guy I recently met online. We’re open to having more people in our group SO LONG as they already have revenue coming in the door.
Hey Trent,
It’s nothing fancy, definitely no-one you’ll know. I could definitely be interested down the line to join other groups, but at this point I’m simply too swamped!
Thanks again, love your site
Chris
Trent, I would like to add a thought that compliments what you are discussing in your post.
What I’m about to say can apply to the current Google escapade or any other set-back. People will say to me “Why do you stick with something where you are losing? My reply is “I’m not losing, I’m learning how to win!”
Perseverance, be in business to succeed in business. You don’t have to learn to quit, but you do have to learn to win!!
Regards
Your exactly right Trent. Years ago when I imported on a big scale I discovered products that I never would have known about but talking to existing customers I discovered them, which later lead to new imports and made us alot of money, but we had to be in the zone or else we never would have discovered these diamonds in the rough. That’s all in another lifetime now but nevertheless the lesson remains. It’s something that you can only discover when your in the business. You video illustrated this perfectly.
Nigel
Hey Nigel,
Welcome to the OIL community. Thanks for giving your version of the same story
Trent as always your content is great!
what a great post! just when I began to start and nothing going right now I know it’s still hope! Thanks Trent
You’re welcome!
The technique is called pivoting… and I was just reading about it on an online -very renowned- magazine.
Solid advice….and I agree completely about doing it….but how do you counter the idea that you shouldn’t jump around from thing to thing. That may be a different issue to the one you are talking about but half way through the video I thought your point was going to be focus and seeing something through to the end. For instance, the reason you had no success with green dots may have been because you got startled by the red dot or green triangle opportunity and abandoned the green dot. I think Seth Godin wrote a book on this but I haven’t read it yet.
The advice I’m giving isn’t intended to say that you should completely switch from one idea to another. Instead, in pursuing your first green dot, you will find that only a subtle shift is need to pursue a red one. OR, you will, at some point, like the example of the company’s core values poster, get so much positive feedback, that you absolutely know you have something the market wants.
I haven’t started my blog yet but I have started writing some posts for it. I wanted to get a few “in the bag” before the launch. This video, and your web site in general, is one of my favorites in this market, primarily because your advice is based on a solid business background, but also because you don’t “yell” at your audience like some other internet marketers. They seem to think that they have to talk loudly to get your attention. Your style is self confident and I get the feeling you really understand the topic.
You probably don’t need it, but good luck.
Hey Larry,
That was very nice of you to say, and it’s feedback like yours that inspires me to continue to create the most valuable content that I can. Thanks for being a reader!