The #1 Key to both financial success or failure.
As I think about my path from the ups and downs of a largely successful corporate leadership career as COO and CEO of multiple education companies to now my “own boss” as a full-time entrepreneur, I've reflected often on what is the key to my success and many others who are doing similarly. My answer is one word, MINDSET.
The old saying is so true, “if you believe you can or you believe you can't, you are correct”. Belief is so important. I watched my friend and neighbor (and now co-founder), Jason begin to skyrocket his e-commerce business beginning in 2011 to incredible heights in just a few years. I got to witness firsthand that “this can be done”, which made a huge impact on me early on.
Rooted in my education at West Point, here are a few of my key mindsets:
- Be a “lifelong learner” – Today we all have access to more tools and information than ever to learn. In the past year, I've invested close to $20,000 in my own learning. I've focused on finding top mentors and coaches who possess expertise in the areas I targeted. The goal being to gain the knowledge required to take my business to the “next level”. The return on those investments in myself have been huge. Not just in the knowledge I've gained, but also in the people I've met.
- Interact with people as much as you can with the “right mindset” – It's easy to fall into excuses why not to do things and why not to take action. The more I surround myself with positive, action-oriented people, the more I've felt inspired to do the same. I also take the approach that just like every Olympic athlete needs a coach to reach peak performance, so does every individual looking to build and grow their own business.
- Be persistent and play the “long game” – Today there are incredible opportunities to be successful in e-commerce. Some think opportunities such as this are “get rich quick” opportunities. They are not. Like anything you have to take action and learn how to add value. There will inevitably be “bumps in the road”. Progress is slowed when people who are short-sited encounter obstacles. Contrarily, those that are successful keep a “steady hand” and continue to take more and more action throughout adversity.
The Recipes for Success.
Having the right mindset, being a lifelong learner, finding others with the “right mindset”, and being persistent. These are the elements that make up an almost certain recipe for absolute success. This is the mindset Jason, Brad (my AMZ Insiders co-founders) and I bring to our e-commerce business each and every day. No doubt, this mentality is largely why we're top 50 Amazon sellers worldwide (pictured below: Jason and Brad on “Worldwide Business with Kathy Ireland” recently).
Take a look at these amazing e-commerce facts. These are why Jason, Brad, and I “live, eat, and breathe” Amazon:
- E-commerce is still less than 12% of all commerce, believe it or not, and continues to grow each year.
- Next year, e-commerce is projected to be 15% of all commerce, while five years from now it's projected to be 30%. That means we are still in the early stages!
- Amazon is already bigger than than the next ten biggest e-commerce platforms combined. Yet e-commerce is still in its infancy!
While everyday presents new challenges, I encourage you to focus on your own best version of your positive mindset. You can view this recent video I find to be incredibly motivating and demonstrating the right mindset here. I think you'll like it. Let me know what you think!