Last Updated on 26 September 2019 by Gertrude
When we hear of Jeff Bezos or Bill Gates, or Warren Buffet or Rupert Murdoch, we hear about the 1 per cent dominating the world. What if you learn the habits that make these billionaires who they are?. We’ll reveal secrets of how their brains work.
All these billionaires have some characteristics in common and we’ll examine them in this article. What if you become the 1 per cent for your Kenyan online business, how would it feel?.
What’s a Business Mindset?
A busienss mindset is seeing an opportunity, seizing it and sitting down to do the work. It involves a belief that failure is indeed a stepping stone t greater heights. It’s also taking the risk and leap of faith that most entrepreneurs won’t do or lack the guts to do.
The following are strategies for developing a business mindset
- Ask Your Why
What makes you tick. What’s your purpose and who fuels the purpose?. What’s the vision for the company?. All great entrepreneurs have a great vision for themselves.
What do they see for the future? All of them start by asking themselves why. And they ask themselves what will they fulfil or their mission with the great vision and their reasoning. Then they relentlessly go for it.
2. Keep Learning for Better Mind Shape
The mind has to be shaped daily. Most Entrepreneurs habits involve soaking themselves in information so as to keep their minds focused or fed. A fed mind is a happy working mind.
And learning means, immersing oneself in industry knowledge information. And also understanding how their business systems work. Being receptive to the free flow of information that keeps coming their way.
3. Develop a Morning Routine and Power Mind Sessions
Tony Robbins does power mind sessions for top entrepreneurs. There’s a reason why he’s paid a ton of money as a motivational speaker and life coach.
Entrepreneurs understand that to start a powerful day, they have to keep having solid routines which form into habits. Because you’re what you repeatedly do.
If you sleep a lot without focusing on your goals you are never focused. It may be because you don’t power your mind for a beautiful morning. A morning routine doesn’t have to be lengthy and tedious it can be as simple as:
A. Reading a chapter of a book a day. Or reading a blog related topic a day. While reading have a pen and paper to note what’s of importance.
B. Drinking water
C. Taking a shower.
C. And taking out your planner to plan your day
D. A gratitude journal to thank God for His never-ending graces.
Powering your mind gives you a great headstart than waking up complaining about the noisy baby or the wife who snores. Or why the daybreak came too early.
Your morning is when you wake up, listen to your body.
4. Creates a Brand
An entrepreneur is an unstoppable beast hovering the earth. When the world says no they create their yes. So they go for their beliefs and keep them steady.
They create brands that turn into annual festivals and movements. They seize the opportunity like George Lucas did with Star Wars. You turn the company around by creating an anticipation and tongue wags before a new release or what apple does to its customers about their iPhones.
Think of an entrepreneur as a lion, is a lion told what to do?. Is the lion stopped because he got injured by another lion in the fight? Lions have great tenacity, when they are told, ‘’lion that doesn’t work, they turn and run even faster’’.
That’s what Arianna Huffington of the Huffington post did. When they screamed to her head that she can’t, she screamed, Oh yes I can. Remember former President Barack Obama, he knew the fight that he was up against was bigger than him, but he kept taking the leap forward.
He kept ahead and said, yes, we can and they did. Don’t pay attention to those who tell you you’re lost cause. They are feeding you their fears for you. Go fail, it’s an achievement.
6. Be a Strategist
A brand strategist is responsible for positioning your brand at the forefront of other eyeballs. Be your own brand strategist. Attend network meetings which open your eyes and brings your business to the eyesight of as many people as possible.
Attend power sessions where you know you’ll network with other industry gurus. Meet them and tell them what you do and why you do it. Talk to those who are above you in your industry.
7. Get Into Multiple Streams of Income
Do you have a residual income? What are you waiting for with just one stream of income? To get super-rich you need to have several streams of revenue so that when one doesn’t work another one comes to the rescue. As you work to correct or revive it.
Look at all billionaires or the rich, they rarely have one source of income. They tap into several money-generating ventures because the know the economy can crash any time.
What residual income do you have? Do you have ideas of tapping into your strengths to know what other sources of income you can create for yourself? Share with us in the comments or sign up for more info on residual income on my youtube channel.
Just because they’re billionaires doesn’t mean they don’t ask. In fact, they know the importance of accepting that we’re humans and no so much self-sufficient. We need each other to grow. We need to ask so that more doors can open.
That’s why many billionaires first started with debts or their last coin and borrowed money to get their businesses off the ground. There’s no shame in asking.
In fact, there’s a drive when you go to ask. You find yourself working thrice as harder because you can’t wait to show the person that your idea is viable. Asking creates a self-drive quality.
Tip; don’t just ask, ask those who support your dreams and your crazy idea. There’s someone who’s ready to listen. You don’t have to stop there, ask those who follow or buy your products what they’d love to see from you. Is it more products of the same quality or more.is it less of one product or more of another?. When you don’t ask your customers, they won’t tell and will move on.
9. Be an Analyst.
Billionaires know how to measure their numbers, be it money or statistics. And if they don’t they get someone else to do. When you know your numbers, you know what content is touching hearts and what to scrap from the books. When I started on youtube, I made sewing videos, but because it wasn’t a strength for me my best didn’t come through. Plus I felt tired before starting. I love to sew clothes, to share the knowledge but what I love the most is to show people how to make legit money online as a Kenyan. I get asked this question on a daily basis.
Another question is how to make money with a blog as a Kenyan. A lot of businesses don’t even know the value of content marketing for their businesses. After creating this money-making content online in Kenya, I show a sudden increase in viewership on my youtube channel and I’m grateful. I went back to check and see what worked for my youtube channel. And realised the videos I made like a joke about making money were actually the ones which had high returns on investment. Know how to measure your results as an entrepreneur. Your numbers are valuable in helping you create products or services for your business.
10. Give, Give and Give
Many billionaires donate their wealth into millions of dollars. Ever heard of the billionaires pledging their wealth to go to charities. This is the same giving spirit you must share with your customers.
Be it creating free content surrounding your products, be it creating free information like this blog post which touches the core untouched matter in the Kenyan business scene.
When you give, know there’s someone watching you. And you’re establishing yourself as a business magnate or guru or whatever filed you are in. learn to give and listen. When customers ask for more questions, create information products and provide answers to all their burning questions. They’ll thank you by buying.
11. Keep your Vision
When starting a business, how many times did you want to venture out into another high paying business? When growing your business, think like a lion, go for the goal. Or the vulture, aim and go for it without getting wavered.
A lot of businessmen lust for more opportunities, they become greedy. For example, instead of focusing on the luxury line of clothing, a company begins shortchanging its customers with quality or production. By slowly introducing other items in their line. This not only confuses the customers, they wonder why you didn’t stick around.
Change is good, know when to measure for change but keep your vision. Stick to what you created in the vision board, what did you see your customers experiencing when leaving your store?. How accomplished would it feel to have this item in their hands? How fulfilling is it to have an apple delivered to you. Ask yourself then stick with what you had in mind when starting, stop getting swayed.
The most powerful businessmen use their failures to relearn. Thomas Edison realised there’s nothing called failure. Steven king stuck to his game and kept writing. And J.K Rowling kept learnt from her failure. Her lack of money made her create a book that she said reflects herself. She had to learn a lot, unlearn and relearn. After the 12 times rejection she suffered, she kept on writing her next series for harry potter and what happens need not a lot of explanation.
Harry Potter became a movement. As a business person ask yourself what’s your difference?. And how are you going to reach your customers and what’s the value you’ll give to them this time around. Think of a collapsed eatery like the previous chipotle, what did the owner do differently. To come up with a booming venture.
How can you pick up a dying restaurant and make it come up? Think Nakumatt, if it was given to you, what would you do differently. Think different.
That’s why there’s nothing like a failure in business, it’s stepping stones and lessons.
13 Know Your Target Market.
If these billionaires didn’t know their target markets, would we have heard about them? You have to know who you’re selling to and why. What they want. Why they will buy your products and when they will buy our products.
You have to know where they’re coming from. What they value and why they value what they value. In fact, before starting a business, this is the most critical questions to ask. And it’s the one question most ignored with a number of Kenyan online businessmen/women. Who are you speaking to and why. Get your niche marketing guide by emailing me on
14. Know How to Charge Your Worth
Do you know what you are valued at? How many beginner entrepreneurs can tell me this me confidently? If starting out, have you charged a certain amount and felt like collapsing because it took blood and tears to make this product or service. It’s time to evaluate your business by asking how much money you are worth and why.
Why you are charging as little as you are or why you’re not valuing your products. Remember the price tag you attach to your products means your customers will attach it to you. They’ll know you are either an amateur or just don’t know your worth and most likely you don’t use quality items in the production. I made this mistake with my pillow business. But nowadays I know better, you can read the story here.
15. Find a Market for Existing Products.
Intelligent entrepreneurs know that there’s always a market untapped. They jump into the idea of catering to this market. What business area remains underutilised in Kenya.
It’s a lot. From the movie industry, transport, tours and travel, blogging, online working space. It’s so much. We cry oversaturation all the time but we forget the riches are in the niches. What if with the existing products you find a new market for them. For example, what if with the increase in slimming belts or body shapers, you invent something for men. I know someone has already. What if with fast-food restaurants you start a health food store. What if with retail business being a booming industry in Kenya, why not start a retail store selling only candy. There’s always a missing market, think harder because the gap exists.
16. This is a business
Billionaires understand that there are no hard feelings in business. As politicians say in politics there’s no permanent friend or enemy. They’re after all members of the clan and no matter what they must clash.
Why are you taking it personally when your business doesn’t work. Why beat yourself up when a new venture doesn’t pick up immediately. No matter how brilliant an idea it is, the flow of cash rests on a number of things, your mindset being the number one rule.
And other factors like the economy coming in second and market research. Did you research your topic properly? Did you analyse the data coming to you? Did you listen to your intuition when it was telling you to stop? This is a business and there are no failures, only magic potion of patience.
17. Own Your Business.
A great business person knows that they are in charge of their business. And that no matter what, they will remain the owners. Be present in your business. Answer questions your customers are asking.
18. Delegate Duties
There’s nothing as excruciating as wasting time on tasks which bore you to death, ask me. I spend time tweaking this website not even understanding what I was doing. And it was 48 hours. I have lost businesses with thousands of dollars because I’m phone anxious. I have wasted time pondering the plastic ban in 2017. Because I had a great idea in 2014 when I learnt how to crochet. I didn’t believe in myself or the delegation of duties. I didn’t believe another person was suite to do the job for me where I fall short. I don’t have the time to employ. I should. I need a social media manager to help free my time, I need a writer but I do it all sometimes I don’t because of a lack of great planning. We all need help, great businessmen like jack ma recognise this fact. He says, ‘give others the tasks you can’t or don’t know how to do’’. Absolutely. Why waste time trying to figure it out when someone else knows how to do it.
19. Understand Your Business Flow
Who are the managers? Who are the salespeople and what will they be selling. Are they equipped to do the business? Where are the customer service agents, do they know how to serve customers when I’m not around. Are they up to the task? Who does what helps the business flow with ease. No guesswork or running an errand in another department when not using your great potential. It’s important to know the strengths of each of your employees and help them bring the best in themselves. If your business doesn’t have a flow, mistakes happen all the time.