By: Ted Rollins
1. Incredible Opportunities Can Be Found Anywhere
Look around you and look everywhere. Make sure to build your network and use it to develop your ideas or to source ideas from.
2. Know Your Numbers
You must know your numbers inside and out. Integrating the financial performance and metrics of your business into everything you do is a must! If you don’t know how to do that, hire someone who does and learn.
3. Think Globally
Don’t be confined by borders, look globally to find your niche.
“The average global investments of a successful entrepreneur total 1.8 million USD.”
4. Millennipreneurs are on the Rise
BNP Paribas’ 2016 global entrepreneur reports revealed that 5.6 billion USD is the total investable wealth of millennials surveyed. In addition they average eight launched companies with a 35 percent profit margin.
5. Win Your Team Over From the Beginning
Build a Smart Tribe. Pick great team members, then develop and invest in them. Provide them with an environment they can flourish in. Only 16 percent of millennials see themselves with their current employers a decade from now. Invest in your employees early, especially if you employ millennials, to show them they have a reason to stick around.
6. Be Balanced in Your Business Practices
Now more than ever consumers are supporting businesses and judging them based on what they do and how they treat people and our planet. It’s up to company leaders to instill balanced values into the core of the company’s culture, which consist of the three P’s: People, Planet and Prosperity.
“Only 57 percent of millennials believe business leaders are committed to improving society.”
7. Focus on Solving a Need
As an entrepreneur or start-up, make sure your ideas are innovative and can add value to people’s lives by addressing a genuine need.
8. Stay Focused, Be Persistent and Believe in What You Are Doing
The best ideas in the world still require the focus and persistence of their founder. This is a journey that you must believe in and never stop until you have made it successful. It is a windy path and you can never take “No” for an answer.
Ted W. Rollins, Co-Chairman and Founding Principal of Valeo Groupe, is a seasoned real estate entrepreneur with more than 30 years of experience in real estate investment banking, development, structured finance, start-up businesses and construction. He is focused on niche opportunity investing in both real estate and financial service sectors, particularly those that balance economic, environmental and social outcomes. Follow @TedWRollins on Twitter.