Adrian Nantchev's Blog, page 17

Start with a Purpose - 17/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.Whenever you start a business, you have to start with a purpose behind it. When you have a purpose you have something bigger to work towards and it is your guiding principle and 'north star' for your progress.Money is a result of your actions and is a symptom of solving problems for your customers. Do not start a business for the money, start it to fulfill a vision you have of the world. In my hemp business my purpose is to champion the use of hemp, and bring it into the mainstream conscious. This is the guiding principle for all my actions and everything thing that I do and build.Question of the day: what is your mission? What is your purpose? What are you focusing on?

Lifestyle Built into Business - 16/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.Seek to build a business around your lifestyle. Seek to live to work, not work to live, because as soon as you enjoy your business and you are working on your passions, then you will never work a day again in your life.You can be happy and competent, but then you want to have a business that enables you to have a good lifestyle. So your business has to be built around your lifestyle and enable it.Question of the day: how is you work/life balance?

What Customers Want - 15/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.Customers are people and people have simple wants and desires.When it comes to business, everything revolves around your customers as you seek to give them what they want. You can sell anything you want, but your customers have to be willing to buy it.When they are buying from you they want reassurance that they are going to get what they paid for, that their product is going to be delivered and that it is as good quality as they perceive it to be.Question of the day: how are you giving your customers reassurance and fast delivery?

Partnerships & Mastermind - 14/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.During the  course of your entrepreneurial journey, there will be other entrepreneurs that you will meet. Some will be good friends and mentors, some will be forgettable, not necessarily because of their character, but often because of their business and some people will your competitors.It is in our ability to connect with people and form partnerships where we flourish the most. Some of the people that you meet, with the right time and energy, can change your life in the long run. When you share ideas, thoughts, plans, tactics, strategies and philosophies with each other, then you all benefit and become richer. These are called Masterminds, where a group of people (not necessarily entrepreneurs) come together with a common mission and work together to achieve it.Question of the day: who do you spend most of your time with?

Solve Customer's Problems- 13/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.Whatever it is you do in business or as an entrepreneur, you have to solve peoples' problems so that they are willing to pay you.Understand that the bigger the problem is that you solve and the harder it is, then you will be paid more money. We are paid in proportion to the difficulty of the problems that we solve for people, so if you solve a little problem, then you will be paid little. The more people that the problem affects, the more you will be rewarded for solving it. Bill Gates wanted to get "a computer on every desk", and he computerized most, if not all, industries. Ensuring smoother connection with the internet and increased productivity.Question of the day: what problems are you solving for your customers?

Separate Time from Income - 12/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.Stop working for money, stop working for paper and stop exchanging your time for an income. As an entrepreneur you- and I, need to learn how to separate our time from our income. As you do this then there is no limit to how much money you can generate in a single day, week, month or even year. When you separate your time from income, there is nothing stopping you and you then become financially free.As you work for money you are limited to how much you can make in a single 24 hour period. Let's say that you work for £10/hour which means that you are limited to, in theory, £240/day, provided you work a 24 hour shift. Now, there is nothing inherently wrong with this- because if you are happy and competent at that then there is no need to change your situation. But, you have to understand that this is not how the rich become richer, or how most entrepreneurs make their money.Question of the day: are you focusing on income producing activities?

Create more than you consume - 11/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.This is a principle about business and marketing: you and I have to create more content, adverts, books, information, products or services, than we consume. If you consume a video on YouTube about a certain topic, then endeavor to create two videos that relate to your business.We live in a world where people can go onto places like Google and YouTube and consume information- if you cannot be found online, because you are not creating enough content, then people will not find you and maybe not respect or recognize you.Question of the day: how are you creating more? How are you doing more for your customers?

Competition is not so common - 10/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.Competition in business is not so common, nor is competition so common online or for market share, there may be a handful of real competitors in business, but compared to the job market, they are nothing.A lot of people will chose to apply for jobs for the security and thinking that having a job is less risky than having a business. This is entirely the opposite way around, as when you have a job you are at the mercy of the employer and ensuring that your performance meets their expectations, as they could fire you any time. With a business your boss, is essentially, a customer, and if one customer is not happy, then there are other customers waiting for your service. If one customers 'fires' you or asks for a refund, then there are always more customers around the corner.Question of the day: how are you competing?

Lazy and Ambitious - 7/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.How can you be lazy and ambitious? To some people those words are diametrically opposed and that they may not be able to understand what it means. To be lazy and ambitious actually goes hand in hand, because when you are ambitious you want to achieve something, become someone or do something. So how can you achieve it with the least amount of effort? How can you be lazy and ambitious?When you are lazy you are searching for the easiest yet most efficient way to get what you are after. You are searching for leverage- which is to do more with less.I want to build an online reputation, so I will leverage YouTube's servers to host my videos, I will leverage Google and create blogs so people can find me in the search engine. I will leverage Amazon's systems, logistics and printing machines to write books and sell them online. This way I am doing the work once and getting paid forever.Use your laziness as a standard bearer for you success. If something requires too much work from you or you need to do the work repeatedly, then find a way to automate it or outsource it. I want a business, but I do not want to do the same things every day, I want to set up a way that I can do the work once and get aid forever.

Just be 1% Better - 6/19 Entrepreneur Success Principles

This is an except from my book: 19 Entrepreneur Success Principles.Seek to become better and not remain good. When you seek to constantly improve yourself, whether in talents, comfort zone, awareness, etc, then a year from now you will be a different and better version of you, and as you maintain your strive to become better then every year you will be a better person. You will look back at yourself and realize how much you have changed and improved.When I am watching YouTube videos of entrepreneurs, founders, millionaires, billionaires, etc, hearing advice and lessons directly from them I write it all down into a journal and take notes. This way I absorb the information into my mind so it changes me from within and I become better.The amount of things that I have learnt, yet forgotten is ridiculous. But these lessons are absorbed into my subconscious and they become part of me, so that when they are relevant or a situation reminds me of them, then I remember their lesson and I apply them. They become instinctive.Don't rest on your laurels when you are good, seek to become better instead. When we are victorious we party, but when we are defeated we ponder as we think, strategies, plan and coordinate. The world is constantly changing and so we have to change too to keep up.