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The Mindset in Building a Successful Company

What should your mindset be like when you want to build a billion dollar company? John Paul DeJoria is the co-founder of the company Paul Mitchell, a line of hair products and another billion-dollar company, the Patron Spirits Company. John is well known in business circles and in a talk below he shared what he believes are the traits one should have to build a successful company.  He says,on your way to becoming successful you are going to face rejections, a lot. Always believe in yourself and do not let rejections overcome you or influence you, no matter what your situation is. You have to know that your service or product is great. You are not only selling a product or service, but you are trying to get it in someone’s hands knowing and believing your product is sublime, making them want to buy it again or tell a friend to buy it. Now only having a good product is not good enough to be successful, it is a combination of several things. You might even have the best product in the world, but unless you tell people about it and get them to use it, your product is not going to be a success. So what makes you successful is having a product that is exceptional. The main thing you have to know is, if your consumer uses your product, are they willing to use it again and again? Do what the less successful are not willing to do, never lose faith and work hard, 7 days a week, from early in the morning until late at night. Overcome rejections and know that what you have is so good eventually you will get through it. Tell a story behind your product/service which is true, this causes emotional connection besides the experience. A lot people want to have thousands of customers. To get to this you have to tell so many people until enough people are saying yes. Now you cannot gain 1000 customers by just telling them, but you can make 500 customers out of 50-100 existing. That is exactly where it goes wrong, people are abandoning their first and existing customers but still expect to gain more customers. You must pay attention to your first customers, because these will be your best source of recommendation. Https://www.youtube.com/watch?v=GFdtzbYzX4g]]>

─ February 4, 2016