Entrepreneurship: Tips From The Biggest Names In Business

"Entrepreneurship" is one of the business world's most prominent and widely used buzzwords. Data indicates that entrepreneurial activity is on the rise. In fact, in 2015, startup activity and entrepreneurship saw its largest annual increase in approximately 20 years. This exciting increase has been highlighted and published in a report conducted by The Ewing Marion Kauffman Foundation^[1]. The uptick in entrepreneurial activity is likely good news for those men and women who are currently considering a startup opportunity.

In a recent report by CNBC, there are several things that new entrepreneurs can do to improve their chances of business success ^[2]. And despite the fact that there are currently more resources and educational materials available to entrepreneurs now than ever before, learning and gaining insight from someone who's already been there could certainly be considered an invaluable asset when it comes to winning in the entrepreneurship game. Some of the hottest names in business today have publicized their first-hand tips for finding success and keeping it, and now we're spreading the love.

Roberts Herjavec, whom you may know from the hit TV show Shark Tank, wants entrepreneurs to keep in mind that they are never going to feel 100 percent prepared. In fact, he encourages entrepreneurs to take advantage of opportunities even when they feel daunting. He says, "You're never going to know everything. You just gotta do it, because the best experience is doing it."

Getting a deal is cause for celebration. But what happens next? Find out TONIGHT on ABC's @BeyondTheTankTV at 10|9c! https://t.co/cSqA0Z6V0L ^[3]^[4]

— Shark Tank (@ABCSharkTank) April 6, 2016 ^[5]

Landry's CEO and host of the popular show on CNBC called "Billion Dollar Buyer," encourages entrepreneurs to be tough themselves during tough times. He suggests that, to be successful in entrepreneurship, entrepreneurs cannot and should not hesitate to make cuts when necessary, especially when facing tough financial decisions. Fertitta advises, "Don't be scared to make cuts. You can't save the world. If you want to be successful in business, you gotta be tough sometimes, and you better be tough in tough times."

Be yourself and you can be anything. #MondayMotivation ^[6]

Watch #BillionDollarBuyer TOMORROW at 10p ET/PT on CNBC! pic.twitter.com/r20BGv6raE ^[7]^[8]

— Billion Dollar Buyer (@BillionDollarTV) April 4, 2016 ^[9]

The founder and Chief Development Officer of Indiegogo, Danae Ringelmann, encourages entrepreneurs to keep in mind that they will face resistance. She says that obstacles should be expected. She also suggests that one of the major sources of resistance in terms of entrepreneurship, in addition to the typical forms of rejection, comes through the reality of self-doubt. She believes entrepreneurs would be best served to prepare for these types of resistance, as opposed to trying to hide them altogether.

The founder of O'Leary Financial Group, Kevin O'Leary, whom you may also know from TV's Shark Tank, suggests that successful entrepreneurs are those who can set goals, communicate those goals clearly and remain transparent about progress. He suggests that having vision is useless in the absence of execution. O'Leary states, "There's nothing worse than vision all day long. Vision is easy. Execution is hard."

And finally, Greg Glassman, well known as the CEO and founder of CrossFit, suggests that entrepreneurs who go into business for the sheer purpose of making money will find themselves floundering. He suggests that it is more profitable for entrepreneurs to pursue excellence over income. According to Glassman, entrepreneurs who focus on the production of high-quality products and services will likely have financial success as well. He says, "Excellence is obvious to everyone. Chase it. Pursue it."

"The CrossFit gyms are perfect chronic disease fighters." —@CrossFitCEO https://t.co/2iJvl1Cgua ^[10]^[11]

— CrossFit (@CrossFit) March 10, 2016 ^[12]

So there you have it; five great tips for entrepreneurship success from some hyper-successful folks who have already been there. If knowledge is truly power, surely the wisdom gleaned from these successful professionals can be considered a boost to anyone's business prowess. But readers must keep in mind, their's is not the only advice to be had. Thanks to the Internet, every up-and-coming entrepreneur and startup business owner has 24-hour per day access to resources, advice, classes and courses, all designed to improve his or her chances of business success.

[Image via wavebreakmedia]