When you set up a business there is a list of things that you need to make your new venture a success. For example, having a good product, the right workforce and an effective marketing strategy are all vital.
When asked, most people will come up with a long list of things they consider essential for business success. Often, those lists look similar, but the majority of them miss one very important thing.
Most people would not mention that to be successful in business you need the right attitude. It is not enough to have a good plan, and to execute it. You also need to be self-reliant, determined, focused and resilient.
I came to realise that while reading this Reuben Singh article. In it, he explained how having the right attitude helped him to become the youngest self-made millionaire.
The young Mr Singh could have had things easy. His parents were very successful wholesalers, and money was never an issue. For example, they gave him a £40,000 car as a 17th birthday present. Surprisingly, Reuben thanked them and handed the keys back. He had decided to make his own way in life.
Reuben was sure he could use what he had learnt from being involved in his parents business to start his own. It turned out he was right. He used £4,000 he had saved from his wages to buy stock and pay the rent on his first store.
With that cash, he set up Miss Attitude. When he realised he had a winning formula he expanded rapidly. By the time he sold the business, a few years later, there were hundreds of stores throughout the UK, and he was a multi-millionaire.
Today, he is still a successful executive. He is the CEO of two major companies and is involved in running several other firms and charities. Mr Singh has recently set up a scholarship to help young entrepreneurs to study while running their businesses.
There is no doubt he is a successful businessperson, and much of that success he puts down to having the right attitude.
Realistic self-belief and focus
Reuben Singh believed in himself. He knew business was his path to success.
From an early age, he made sure he was involved in his parent’s commercial ventures where he learnt the skills he needed to buy and sell successfully. At only17, he knew enough to run the sales department of his parent’s company.
The young Mr Singh never turned down a chance to learn a new skill. This approach stood him in good stead when he set up his own business.
He believed in himself, but importantly it was not blind belief. It was based on the fact he had the skills he needed to succeed. If you want to run your own business, I suggest you consider following his example.
Make sure you get out there, get your hands dirty and learn as much as you can. Having the right attitude will help you to be realistic, address your weaknesses and use what you know in the most effective way.