How to Join the 1%

8 Things Remarkably Successful People Do, by Jeff Haden in Inc. Magazine

What He Says: Jeff has reported on business leaders and ghost-written their biographies. He identified 8 actions that remarkably successful leaders have in common, including the following:

• They Don’t Have an “Out:” having a back-up plan means you don’t have the pressure to succeed
• They Work A Lot: thousands of hours of effort are required - there are no shortcuts
• They Avoid The Crowds: less competition = greater chance for big success
• They Start At the End: they have a plan
• They Sell: they know how to communicate value, negotiate, and maintain confidence

What This Means For You: Jeff’s observations are true of the "remarkable," which I believe constitute the rare top 1% of entrepreneurs who build companies that are of great financial value to others - shareholders, owners and employees. These are the people who have multi-million-dollar buyouts.

But it’s important to remember that 99% of entrepreneurs and small business owners don’t fit the "remarkable" mold that Jeff is describing. I think it's important to know what you really want, and to know the consequences of building the type of company Jeff's model entrepreneurs are building.

Do you want to be in the top 1%?

Know What You Want: Are you building a valuable company that you can sell for millions of dollars (1%), or a job for yourself and a few others (99%)?

If you are building a job for yourself and a few other people, then you can work regular hours and at a normal energetic level. If you are building a valuable company, then you have to work your butt off. Seriously. You need to put in massive quantities of time, at an extremely high energetic cost to you personally, than anyone you know. There will be consequences, but it will lead to success.

If you want to be in the 1% and build a valuable company that you can sell or pass along, then you have to be seriously dedicated to that goal at the exclusion of all others. Remarkable success comes at a remarkable cost. 

Virginia Ginsburg is founder and chief consultant at Swell Strategies. She is passionate about supporting small business owners and entrepreneurs in starting and running successful enterprises. An avid reader, in this blog she reviews books and articles and relates specific learning points back to entrepreneurial businesses.