Scott Dylan, the Fresh Thinking Group creator says, successful entrepreneurship is primarily about creating a purposeful and sustainable vision that will propel you and your business to success. To thrive in your business, you must possess self-motivation, entrepreneurial drive and perseverance.
While you may not spend all of your wealth, you will still need money. By putting it into investments, it will grow and diversify, leading to a large income in the future. If you plan on investing your money, then you’ll be receiving regular monthly income on your investments.
Scott Dylan says, “If your goal is to create wealth, and money is merely a tool in your pursuit of wealth. For those who seek to change the world, however, I strongly encourage you to have a substantial portion of your wealth in more stable industries.”
Scott Dylan (Fresh Thinking Group) noted, “I have been building businesses since I was 14 and I have noticed a couple of patterns in how I see businesses being built and funded. The first, and most important, is to think like an entrepreneur and then act like an entrepreneur.”
First, entrepreneurs must establish a healthy base of loyal customers, so business knowledge can prove very useful in these early days, even for startups. Second, entrepreneurs must acquire a diverse customer base, so when the inevitable bad years come, there is a solid base of support to fall back on.
The third big thing to remember is that, in the early days, you do not make money or get paid. Having someone at the helm who has invested in the business, and who you can trust, will enable you to be much more effective and manage things like budget, time and risk much more efficiently.
Scott Dylan says that when identifying a business opportunity, a distressed entrepreneur needs to first look at the needs and the strategic fit of the business. This usually happens when you’re building a new business model for a previously successful company.
According to Fresh Thinking Group founder, once you know what is missing or the reasons behind it, you can quickly adapt the company’s focus and create a sustainable company that remains profitable. A distressed entrepreneur is the driving force behind building and managing the distressed company.
Scott Dylan (Fresh Thinking Group) says, if you’re at the helm of a distressed organization, it is vital to understand the core strengths and weaknesses of the business and the direction you want to take. Once you recognize that you have become an entrepreneur, which is an achievement, you can then start to be successful.