Being an entrepreneur is not easy as the risks, roadblocks, financial, and psychological challenges involved can discourage even the most confident person starting a business. But the key to success is to focus on the goals you have laid for the future, rather than the obstacles on your way to success. Statistics show that almost 90% of startups fail within 2-4 years due to various issues like competition, funding or weak management etc. Hence, people looking to become entrepreneurs need to spend time to learn from successful entrepreneurs, like Ziad K Abdelnour.
Ziad K. Abdelnour is the President & CEO of Blackhawk Panthers Inc., a New York-based private equity agency. He has more than 30 years of experience in the wall street and backed more than 125 startups. He is also a financier, influencer, and author of two best-selling books. His book titled “Start-Up Saboteurs: How Incompetence, Ego, and Small Thinking Prevent True Wealth Creation” is a must-read for every entrepreneur who wants to create true wealth and gain financial freedom. In this article, we’ll look at how this book is useful as a practical handbook for aspiring entrepreneurs.
Ziad states that this book is dedicated to true serial entrepreneurs who like to push their limits and live to the extreme. According to Ziad, this book will help entrepreneurs crack the secret code to success. Let’s take a look at some of the key aspects of the book that will create a winning mindset amongst entrepreneurs to build legacies.
Set Aside Your Ego
The book provides a lot of insights into the minds of entrepreneurs about how to beat the start-up challenges. Ziad states that he listens to hundreds of pitches every week, and only 5-10% of those pitches are genuine and worthy. While some entrepreneurs come with experience, others come straight out of the college with just a concept in hand but without any idea to execute it. According to Ziad, every entrepreneur dreaming of building a company of their own needs to set aside their egos for good.
Learn How to Negotiate
While business networking is extremely important to reach more clients and partners, it is not the only recipe for success. Even if you have hundreds of contacts in your LinkedIn contacts, it is the art of negotiation that will win you deals. In his book, Ziad K Abdelnour teaches entrepreneurs about how to:
Stop talking and start listening
Help others to help yourself
Don’t Sell, but tell (in the form of a story)
Reveal your passion everywhere
Apologize when you make a mistake
Learn How to Handle Failures
Successful people are mostly proactive than being reactive. In other words, they don’t react to failures in a big way or feel down when things don’t go their way. The reason is that they treat failures as stepping stones for success. You may not gain success in your first VC meet or even the next couple of meetings. Remember that VCs don’t help you to solve problems, but VCs like to back people who are willing to provide a solution to a problem. In his book, Ziad provides some simple ideas about how to approach VCs and pitch your ideas.
Lessons from Real-Life Failures
The book also provides some valuable lessons to entrepreneurs through real-life failures that will help entrepreneurs to avoid making those mistakes when building their startup.
You can follow Ziad on blackhawkpartners.com, financialpolicy.org and Freedomforall along with YouTube Channel, which will constantly keep you posted of all details including but not limited to his TV, radio, book signing events, public venues, and other worldwide appearances.
Ziad was just recently featured as one of the 500 Most Influential CEOs in the World.