What makes a successful entrepreneur and what makes others fail at it?
John Stankiewicz has expanded his name, not only as a thriving entrepreneur during COVID-19, but also as a leader who guides others with practical wisdom on his podcast.
We asked him for his expertise on entrepreneurship and developing the correct mindset to succeed.
Q) What is the biggest thing that holds people back from succeeding as an Entrepreneur?
The fear of other people’s opinions. People are so worried about how their family, friends, coworkers, pet goldfish etc. are going to react when they announce that they quit their “stable” 9-5 job to pursue their dream of starting their own business. Unfortunately, this fear often results in the individual never taking action on their business at all or they quickly give up after the backlash they receive. This is one of the first problems I address and reframe when working with aspiring Entrepreneurs.
Q) What do you tell someone who doesn’t know what is the next arc of their life?
Keep trying shit. This is normally the result of the person not having enough experiences, and more importantly, not failing enough yet. Since age 18, I have pursued countless business ventures that fall into many different categories. Most of the time these ventures have ended in failure. However, through every single one, I learn more about myself. I find out what I’m good at as well as what I suck at. I figure out what I’m passionate about and what I don’t really care for. Ultimately in this journey, you will gain clarity and end up getting crystal clear on your purpose and “why”. Once you have a strong handle on that, the rest will follow!
Q) Do you think college is not a necessity?
Although a big piece of my message is centered around how the most important lessons we learn come from outside of traditional school, I am NOT anti-college. Do I think it’s a necessity though? Certainly not. For those whose passion is to become doctors, lawyers, engineers – sure. You will need a degree to pursue that dream.
The problem is that most people don’t actually know what they want to do at age 18 when it’s time to make that major life decision. Society has conditioned us to believe that you must go to college in order to become successful. Unfortunately, these students oftentimes follow this path, end up graduating with a generic degree, leave college with upwards of six-figures in student loan debt, then they can’t even find a job.
As a college graduate myself, I will say the most important things I learned came from the experience and environment. I hardly apply anything I learned in the actual classroom in my professional career.
Q) Is entrepreneurship for everyone?
Absolutely not. The reason is that there’s a certain price you have to pay, and most people are not willing to do what it takes to succeed. In Entrepreneurship, you must accept a temporary loss of social esteem from ignorant people when you first get going. That alone is enough to prevent people from pursuing Entrepreneurship because one of our biggest needs as humans is to feel like we fit in and belong.
If you make it through that, then there is an extraordinary amount of discipline required. We are conditioned to follow orders, and once you have complete freedom of being in control, people lack the discipline necessary to run the show themselves. I believe that anyone CAN become an Entrepreneur, and by putting in the work and cultivating the right mindset they CAN succeed, however, most people simply aren’t willing to do what it takes.
Q)What do people need to know before starting a business?
Know that it is not a linear path to success. There will be obstacles, there will be rejection, there will be failure, there will be ups, there will be downs, and there will be moments where you feel like giving up. This journey can be an absolute roller coaster. But, my advice to you is to always keep pushing forward.
The most rewarding part of becoming an Entrepreneur is not building an enormous business or the wealth that you will create. It’s the journey, the impact you make, and the person you become because of it. If you view building your business as just that, a journey, and focus on getting better as an individual every day through the process, there is no way you will ever lose.
