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  • KEVIN MITCHELL
    Real Estate Investor, Author, Educator, and Trainer. Spreading the word about investing and throwing in my two cents on anything else that's on my mind.

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The Secret to Success in Business – Be a 5%er!

Having achieved success along my entrepreneurial journey, I often get asked by others in the same “business for self” boat what my secret to success is. I have answered the question individually so many times I thought it would be a good idea to write about it and share my secret with all of you.

And before I get started I want to talk about a few things.

First off, for those of you that don’t know my background I was a school teacher up until 8 years ago when my brother and I both quit our jobs and ventured out on our own.  Our journey has been an exciting mixture of ups and downs. There have been many challenges that we have had to overcome along the way and I am sure there are many more in store for us.

So with all these challenges you can definitely ask the question, wouldn’t it have been easier to keep teaching and forget about being an entrepreneur (a few of my friends have asked me this exact question)?

And my answer ever time is: ABSOLUTELY!

But one of the biggest lessons I have learned thus far is that RARELY is the easy path in life the most rewarding. So as much as going into business for myself has challenged me to the core, it has been an extremely gratifying journey and I wouldn’t trade my life experience for anything.

And secondly, when I refer to the “business for self” boat I am talking about anyone who works for themselves in some capacity. Having your own business can be anything from quitting your job to become a full time real estate investor (which is what Erik and I did) to leaving your current employer to become their competition, to venturing out on your own in an individual based marketplace (such as becoming a real estate agent or joining a multi-level marketing company).

The fact is, a LOT of people at one point or another in their life try their hand at some form of entrepreneurialism.

So, I am writing this article for the entrepreneur in all of us. Because the reason we venture off the beaten path is to achieve the type of success and sense of achievement that can’t be had any other way.

And the answer to the million dollar question of “How do I ensure that I will be successful in my business” is very simple at the core:

Be a 5%er and build your business with 5%ers. Period.

What in the heck is a 5%er you ask?

Well, after spending the past 12 years working for myself in some capacity (I owned and operated a construction business while I was in university) I have come to the realization that there are two very distinct groups of people in this world in relation to work in any form.

The first group represents the vast majority of people, let’s say 95% of them.

These people do just enough to get by in life (or not nearly enough depending on who you ask). In every spectrum of their lives they perform their job(s) anywhere from adequate to very poor (or horrible) and they have no desire to improve and grow, EVER.

As such they are destined to stay exactly as they are as they move through life.

Now I know this doesn’t paint the best picture for the group, but that is not my intention. These are my observations from dealing with a wide range of people for many years.

And furthermore, I don’t think there is anything wrong with leading your life like this and one could have a very enjoyable life living this way (I would assume).

But what I AM saying is that these types of people make TERRIBLE entrepreneurs.

If you want to be successful in business then you need to be in the second category, the 5%ers.

These types of people go above and beyond the call of duty in every possible way. They strive for excellence with every challenge they are confronted with. The phrase “I can’t” isn’t even in their vocabulary, instead they replace it with “how can I”.

They come in early and stay late. They live, eat and breathe whatever it is they are trying to accomplish. They are willing to go farther, work longer, and learn more than their competition. They humbly recognize their weaknesses and continually work on them until they become strengths. They constantly seek education and information and know the best way to learn is from people that have already accomplished what they are striving for.

At the very essence 5%ers want it (whatever IT may be) much more than anyone else. And it is this burning desire that propels them to success.

So getting back to the original question of the secret to success, like I had mentioned it is a 2 fold answer.

First, to be a successful entrepreneur you MUST embrace and embody the essence of the 5%er. If you are reading this article today wondering which group you belong to the answer is right here for you to answer.

You see there is a 5%er in all of us (well most of us anyways) just waiting to be set free. Each and every day we create our own reality (that saying sounds familiar). If today you make the decision to be in this exclusive group you have completed the first important step in the process.

But if it was as simple as saying you are going to be something and then magically being that something, we would all be rock star millionaires starring in our own reality T.V. show (or some other variation of this…but you get my point).

To become a 5%er you must find YOUR motivation…the thing that makes you want to achieve success in your business more than anyone else in your industry. And then use these motivating factors to drive you and push you to go above and beyond in every possible way.

And secondly, you MUST surround yourself business wise with the same type of people.

If you are hiring an employee, then ONLY hire a 5%er for the position. If you are hiring a contractor, make sure you hire a 5%er.

When you are building a power team for you businesses, you guessed it, build it with these types of people.

And the moment you realize you have made a mistake and your business is affiliated with a 95%er, move on from them immediately and NEVER LOOK BACK.

This may sound harsh to you, but if you want to create the highest level of success for yourself and your business than you don’t have a choice.

So to recap the secret to having a successful business:

Be a 5%er and build your entire business (and anyone associated with it in any way) with the same type of people.

Talk soon,

Kevin

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