In this episode, D. Anthony Miles discusses his insights about being an entrepreneur and the mindset someone with a business should adopt. He shares his thoughts about being self-employed compared to being a regular employee. He also gives advice on what to focus on when growing a business and seeking economic opportunities. Join us and learn more about how you, whether you’re a student or an employee, can also become an entrepreneur.
Education sometimes prepares you only to become an obedient employee. This creates a severe lack of knowledge on how to get control of your life, build a business and become an entrepreneur. Being self-employed is a challenging endeavour to pursue, but once you push through with it, the results are rewardingly worth it. And since it is a challenging feat, we all need business advice and guidance that can steer our lives in the right direction.
Here are the reasons why you should listen to the full interview:
- Learn how to identify and effectively address the challenges of starting an online business.
- Discover the importance of building enduring customer relationships and its impact on customer loyalty.
- Understand the journey of an entrepreneur, the inevitabilities of the path, and how to maintain a positive perspective.
Resources
- The Five Forces Of Entrepreneurial Risk by D. Anthony Miles
- Rich Dad Poor Dad by Robert Kiyosaki
- For more insights about starting a business and becoming an entrepreneur, connect with Anthony through his website or LinkedIn.
- For more Informative Interviews Click Here
D. Anthony Miles Lifesaving Business Advice for Students, Employees, and Entrepreneurs:
Personal Beginnings:
- His grandfather owned a gas station.
- He learned from his father that opportunity doesn’t just come to you, and you shouldn’t just wait for it.
- The bank he was working for downsized, and he lost his job.
- “A job is having only one client that supplies all your money.”
D. Anthony Miles Why You Should Start a Business:
- Your job is never secure, and your hard work can easily go to waste after getting fired.
- Human resources are capital that can be easily cut to reduce costs.
- We are going into a digital and modern information age where human labour does not have as much value anymore.
- The industrial revolution mentality of staying in one company and living off your retirement does not exist anymore.
- The goal of businesses is to streamline your resources and streamline your labour.
- Employees want to get more, and employers want to pay less.
D. Anthony Miles Essential Business Advice: Starting as an Entrepreneur:
- Be a hammer, not a nail.
- Look for opportunities. The mindset is: I see an opportunity. Then, what is it going to take to put something together and seize that opportunity?
- We have to “de-employee” ourselves and get out of our industry and routine of work.
- When you graduate, create a job and dominate an industry instead of simply looking for a job.
How to Build a Winning Business:
- Beware of the market saturation.
- Do not fish in the same pond as everyone else.
- The key is to know something nobody else knows.
- Business is about building and maintaining relationships.
- The loyalty of your customers is important.
- You also have to reinvent your business every five years to adapt.
What Can Hold You Back From Your Career:
- People that don’t understand the entrepreneur’s mindset will try to bring you down.
- Having an employee mindset going into entrepreneurship will set you back. This happens when you try to save money, instead of saving time.
Habits of a Successful Entrepreneur:
- Have a positive outlook but be ready to deal with challenges.
- Look at life as a chess move.
- Have your antenna up. Seek opportunities.
- Move forward because you only either save time or save money.
- Accomplish more for the day by getting up early, as well as being productive with your time.
The Future of the Industry:
- Be aware of the paradigm shifts.
- Technology is getting better, and outsourcing will be bigger.
- Having a college degree is not a competitive advantage anymore.
- Always adjust to the disruptions to the market by rethinking your business model.
- Even if you are at the top or the bottom, you still have to perform.
About D. Anthony Miles
Anthony Miles is an entrepreneur, award-winning professor, best-selling author and nationally-acclaimed startup expert. He is the CEO and Founder of Miles Development Industries Corporation®. It is a consulting and venture capital firm focused on solving problems and providing strategies for business clients. He is also a forensic marketing expert and a statistician with experience in research as well as risk analysis.