And figured out why most of us entrepreneurs never will.
Building a company isn’t a great feat. To be honest, most anyone with access to a few common resources can get a new business off the ground in a matter of hours (minutes, for some). However, building a massively successful startup that grows into a mega-corporation (grossing hundreds of millions to billions of dollars with healthy profit margins that goes head-to-head with industry behemoths) is a different game altogether.
Bluntly speaking, most self-proclaimed entrepreneurs won’t do what it takes to build such an entity. It has very little to do with intelligence, subpar credentials, or limited connections; there are simply some sacrifices and investments most entrepreneurs just aren’t willing to make. In case you’re wondering what separates good entrepreneurs from the ultra-victorious, these are the steps likely preventing you from achieving that elite level of 0.01% success.
And yes, I did corroborate this roadmap with my $500M+ friend who “single-handedly” built one of the fastest-growing public companies in his industry, so this isn’t just an observation-informed opinion, but rather a proven playbook (with billion-dollar results).
I’m not claiming it’s impossible to build a mega-startup in your 20s…but for most who try, you’re severely disadvantaged. Oh, it has nothing to do with immaturity, limited financial resources, or a lack of decades-honed connections. Instead, it has to do with two factors: time and patience.
I’m not referring to the time or patience a founder is willing to dedicate to their blossoming venture. We can all fall in love with our “next big thing” startup and spend 25 hours a day toiling away at it, determined to do “whatever it takes” to make it successful.
Here’s the problem: Sometimes “whatever it takes” is beyond the scope of our capabilities due to the sheer lack of time we’ve had to learn, experience, and master our industry — that is, unless you’ve been hard at work since pre-adolescence. Compare that to my $500M friend…