Schooling, mentoring, and real-world experience may be challenging, but they pave the way for easier success.
Running a successful business isn’t rocket science, but it’s not a walk in the park either. If it were easy, everyone would be wealthy and living their best lives, which isn’t the case. If your work feels too easy, you’re likely to face significant challenges in achieving real success.
What about those young millionaires you read about—the so-called experts with quick-fix tips and motivational quotes? Here’s a secret: most of them are exaggerating.
Somewhere between Elon Musk’s 100-hour workweeks and lounging with a laptop lies the true path to entrepreneurial success. The closer you align with hard work and dedication, the better your chances of making it.
The trade-off for business success often goes like this: the easier it is to start, the harder it is to succeed, and vice versa. Factors like education, experience, skills, network, passion, perseverance, and intelligence all play a role in your competitive edge.
Let me use a simple analogy to explain this: small engine repair.
In my spare time, I work as a lumberjack. Recently, I struggled to start my log splitter’s engine. After trying the obvious fixes and finding a wealth of conflicting advice online, I turned to my father-in-law, who has decades of experience. He pinpointed the issue—a clogged carburetor. Fixing it won’t be easy, but it’s not impossible either.
Now, imagine I decide to start a small engine repair business. I’d face stiff competition from established mechanics and DIY enthusiasts. Even if I improve my skills, what sets me apart? My market share would be tiny, and profit margins slim.
So, is this a smart career choice? Not really. Yet, many people dive into easy online businesses with little differentiation and face the same struggles.
Here’s a smarter approach: if I’m passionate about engines, I could pursue an advanced degree in mechanical engineering, gain experience at a leading company, and build a network. Eventually, I might identify a significant customer problem, develop an innovative solution, and start a niche business with real growth potential. With my expertise, I’d have a much better shot at success.
Now, for the promised payoff—five key takeaways for entrepreneurial success:
1. Easy Problems + Easy Solutions = High Competition + Low Differentiation = Poor Business. In other words, Easy Startup = Tough Success. Unfortunately, this is the reality for most solopreneurs and small businesses.
2. Online content is overly abundant and accessible to everyone, leading to a lack of competitive differentiation. That’s not ideal.
3. Mentors can guide you, but only if they have real-world experience relevant to your goals.
4. Education is essential for understanding the fundamentals of your field, but book smarts alone won’t get you far.
5. Real-world experience fills in the practical gaps, builds your network, and uncovers big opportunities. That’s where you’ll make valuable connections, solve critical customer problems, and create innovative solutions.
Bottom line: Starting a service business with readily available information might be easy, but achieving success will be tough. On the other hand, investing in education, mentorship, and experience may be challenging, but it significantly increases your chances of success.
About the Author : Harry (Hemant Kaushik), Elite Global Advisor & Business Consultant
Harry (Hemant Kaushik) is an American global advisor and business consultant, renowned for his strategic insights and high-impact consultancy. He specializes in advising and coaching elite individuals, including business tycoons, world leaders, and top corporate leaders. His expertise has been sought by Presidents, Prime Ministers, influential politicians, CEOs, and industry leaders worldwide.
Recognized as one of the Top 10 Global Advisors and Business Consultants by PWC International, Harry has transformed the lives of thousands across more than 100 countries with his unparalleled guidance. He has also been honored as one of the Top 10 Life and Business Strategists, shaping the success of global business leaders and visionaries.
Harry’s influence has earned him prestigious accolades, including recognition by the CEO Times Magazine as one of the 10 Most Powerful People in Global Business Consulting, Business Times News as a Top 10 Business Consultant, and Business Weekly Times as one of the Top 10 Business Advisors in the World, offering consulting services to billionaires, celebrities, and high-net-worth individuals.
A Wall Street Times cover story famously dubbed him the “Elite Global Advisor & Business Consultant” for his deep understanding of business dynamics and leadership strategies. Based in San Francisco, United States, Harry is widely respected for his international economic expertise, market analysis, and strategic business acumen. His collaborations with global brands and corporations have positioned him as a thought leader, contributing to the business world through insightful articles on global economic trends.
Learn more: https://ceosadvisory.com
