Many aspiring entrepreneurs already know how quickly things can change in small business. In an arena that’s just as volatile as it is enticing, each day new start-ups are created and crushed. For those on the outside, it may seem like all it takes to become an overnight success in business is a bit of savings, a great idea and good luck. However, the reality is that sudden success is usually the result of years of hard work, networking and, most importantly, failures.
The stories of the billionaire entrepreneurs of today can often be traced back decades to humble ideas in college that went through multiple iterations before becoming profitable. In fact, it can take years for a company to become profitable. That’s why it’s important for potential small business owners to consider how they’ll fund the initial stages of their business, along with any additional business debt they may take on.
While the journey may be long, it’s not impossible. Whether you want to take your side hustle to the next level or create a platform that changes the world, anything worth doing usually takes time. In order to become a success, you’ll need plenty of hard work, great people skills and flexibility to face each failure and learn from it.
Check out the infographic below to see how long it took famous entrepreneurs to achieve their success, and what you can learn from their paths.
If you’re an aspiring entrepreneur, remember that achieving your goals takes time. While it is valuable to learn from other examples, know that most well-known entrepreneurial success stories often leave out the most important part: their failures. So prepare for your journey as an entrepreneur with smart financial habits, a great support system and determination. Success may not come overnight, but if you follow your passions, the journey will be worth it.
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