Let me ask you something. Can a kid right out of school, with no business experience, build an 8 figure company?
The so-called experts would say not likely at best, and impossible at worst.
But know this:
[tweet_box design=”default” url=”http://jef.tips/8fc” float=”none”]For an entrepreneur, the correct spelling of ‘Impossible’ is “I’m Possible.”[/tweet_box]
You see, that kid was me.
And to be clear, I started with nothing.
The ink was still drying on my MBA degree when I hung up the proverbial shingle and went into business.
I had zero business experience.
While on the topic of zero, know that my bank account wasn’t far off.
My competitors were well financed and run by experienced leaders and managers.
Despite the odds, not only did I survive, I thrived.
If I can do it, so can you.
In this post, I reveal the 17 principles that I leveraged to create an 8 figure company.
17 Success Principles to Build An 8-Figure Company With A 9-Figure Exit
For me, a business provides an opportunity to help people and solve problems.
When I built Embanet into an 8 figure company, I did this through each of the 17 success principles.
Each success principle is powerful and can be a blog post unto itself.
But, when you combine these success principles magic starts to happen.
The 17 success principles are from Napoleon Hill and his book, Think and Grow Rich and Success Through A Positive Mental Attitude.
Some success principles I learned the hard way, through my many failures and setbacks.
And other success principles are from mentors and successful entrepreneurs.
To get the most from this article, master one success principle at a time.
Once you’ve mastered one success principle it’s time to move on to the next one.
Be patient and consistent, and before you know it, you’re in a position to build your 8 figure company.
Download my 17 Success Principle Cheat Sheet on how I built an 8-figure company
Success Principle 1 – Definiteness of Purpose Is The Cornerstone Of Building An 8-Figure Company With A 9-Figure Exit
“There is one quality which one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it.”
[tweet_box design=”default” url=”http://jef.tips/8fc ” float=”none”]When you don’t have a Definiteness of Purpose, you’re like a ship without a rudder.[/tweet_box]
And as a result, your schedule and direction in life are not your own. Your agenda is at the whim of those around you.
Having a Definiteness of Purpose helps in two key areas:
-
Keeps you on track with your daily activities.
-
Helps you decide what to focus your time and attention on.
For the sake of brevity in this blog post, I’ve edited down my Definiteness of Purpose. My first version when I began Embanet was:
“Enable business school faculty and students to learn anywhere at any time.”
Over time my Definiteness of Purpose changed and became:
“Embanet helps schools achieve high enrollments, completion rates, and return-on-investment.”
My second Definiteness of Purpose spoke to both me and my target market.
Over time I learned that my target market, University Presidents, desired two things.
First, a quality online program that had most of the student’s graduate. Second, the online program is profitable to the University.
As an entrepreneur, it’s easy to lose control of your time and focus.
My Definiteness of Purpose kept me on track.
When invited to a meeting or I needed to make a difficult decision, I asked myself one question:
Will this activity help me increase enrollments and profits for my customers?
Saying ‘yes’ to the things that mattered became easy. And as important, if not more important, saying ‘no’ became even easier.
Creating Your Definiteness of Purpose
-
Determine exactly what you desire. Your desire must be a ‘burning desire.’ Keep it specific. As an example, saying you want to be rich is vague. Instead, saying you would like to be in possession of a million dollars is specific.
-
Calculate when you will achieve your desire. If you’re not sure, that’s OK. Write down your best guess.
-
Decide what you will offer or provide for achieving your goal.
-
Map out a plan of the steps you’ll take to fulfill your desire. Know that your plan will likely change, but you need to start somewhere.
-
Write out a clear and detailed statement. This statement becomes your Definiteness of Purpose.
-
Read your Definiteness of Purpose upon waking and right before you go to bed. Do this every day.
Whether you’re a martial arts fan or not, you’ve likely heard of the legendary Bruce Lee.
Below is a picture of Lee’s Definiteness of Purpose, written in January 1969.
My Definite Chief Aim
I, Bruce Lee, will be the first highest paid Oriental super star in the United States. In return I will give the most exciting performances and render the best of quality in the capacity of an actor. Starting 1970 I will achieve world fame and from then onward till the end of 1980 I will have in my possession $10,000,000. I will live the way I please and achieve inner harmony and happiness.
From Bruce Lee to J.K. Rowling of Harry Potter fame. Rowling’s road to success was both long and challenging. Check out my blog on Rowling. Here you’ll learn how Rowling created her empire through Definiteness of Purpose.
Success Principle 2 – The Mastermind To Keep You On Track To Building An 8 Figure Company
The mastermind term comes from Success Whisperer Napoleon Hill who defined it as:
“A friendly alliance with one or more persons who will encourage one to follow through with both plan and purpose.”
Think of a mastermind group like your own personal board of advisors.
The only agenda for your mastermind group is your success.
Although a mastermind group can be as small as two people, it’s ideal to have more.
Steel magnate Andrew Carnegie attributes his success to his mastermind group. Carnegie’s comments are not to be taken lightly.
Carnegie goes down in the history books as one of the most successful businessmen, ever.
For history buffs, King Arthur and the knights of the round table were a mastermind.
Here’s a question for you. What do The Chronicles of Narnia and The Lord of the Rings have in common?
The authors, CS Lewis and JRR Tolkien, were members of the ‘Inklings’ mastermind.
I’ve been leveraging the power of mastermind groups for many years now. My best business breakthroughs have come from my mastermind group.
One idea was so powerful that it led to a new division at Embanet with a new business partner. This one idea rocketed Embanet into the future. We leapfrogged the competition, solved a major problem for our clients, and profited.
How To Set Up A Mastermind Group
Whether I’m in a mastermind group, leading one, or setting up a new one, here are some best practices.
-
I’ve found the ideal number of members to be 8
-
No member is a competitor to another member
-
It’s best when members come from different industries
-
Meet at least once a month
-
The mastermind group performs two key functions. First, provide you candid and honest feedback Second, holds you accountable.
-
Meetings are monthly, or more often if required.
-
One member of the group acts as the moderator to ensure the meeting stays on track.
-
Each member of the group presents during the meeting.
For more information on mastermind groups, check out Lifehack’s post.
While on the topic of mastermind groups, here’s something to think about. Check out Jayson Gaignard’s book, Mastermind Dinners.
Gaignard is a master at connecting with people to build lifelong relationships. In Gaignard’s words, you learn how to “create and cultivate meaningful relationships.”
Lastly, do you know what John D. Rockefeller, Andrew Carnegie, and Bill Gates have in common?
They all used and benefited from a mastermind group. You can read more about this on my blog post, ‘The Most Successful People Have this ONE Thing in Common’.
Success Principle 3 – Applied Faith
Do you know a four letter ‘F’ word that is a dream killer?
Ready?
F.E.A.R.
The antidote for fear is applied faith.
[tweet_box design=”default” url=”http://jef.tips/8fc” float=”none”]To realize success and overcome fear entrepreneurs can depend on applied faith.[/tweet_box]
Applied faith is a state of mind in which you believe in yourself, your ability, and that things will work out.
Let me be clear.
I’m not saying to ignore everything around you, do nothing, and hope that things work out.
Applied faith on its own will not bring you success.
What you will achieve through applied faith is the ability to see what you need to do for success.
I started Embanet out of the attic in my parents’ home. My team consisted of me, myself and I.
My early days are best summarized in three words.
Painful.
Agonizing.
Lonely.
Many mornings I woke up and was petrified to take the ten steps to my desk and start my work day.
I had more rejection that I care to remember.
My friends and family thought I was crazy to go down this path.
Remember, my MBA friends were enjoying six-figure incomes and cushy corporate perks.
What got me out of bed, every day was faith.
I didn’t know how I would do it. All I knew was that I would find a way.
My definiteness of purpose (Success Principle 1) kept me focused. My applied faith was an active mindset that kept me open to the possibility.
On paper, I shouldn’t have gotten out of bed. I should have failed in every way.
Remember, I had no business experience, no team, and no money.
All I had was my burning desire to help people and solve a problem.
How to Invoke Applied Faith
The subconscious mind is incredible.
Did you know that your brain can’t tell the difference between what’s real and not?
Ever wonder why a movie or a great book can move you to laughter or tears?
Your mind can’t tell the difference between the movie and reality.
Applied faith works on the same principle.
Whether you realize this or not, your mind interprets what you think and say to yourself as real.
What you say to yourself are affirmations to your subconscious mind.
Here are the steps I took to develop applied faith:
-
With a high level of emotion, I told myself that I have everything I need, right now, to achieve my definite purpose. I felt and saw myself taking constant action to realize my definite purpose.
-
Visualization. I visualized the person I wanted to be. The vision of myself was clear and bright in my mind.
-
Belief. I saw myself acting as if I already met my goal and how it felt.
-
I read my definite purpose with feeling and emotion.
-
An active state of mind. I created an active state of mind that either eliminated negative thoughts. Negative thoughts could have come from myself or those around me. Either way, I ensured to find the positive in every situation
Read this great article here on Alibaba’s founder, Jack Ma, and his view on applied faith.
While you’re at it, click here to read how ‘Parks and Recreation’ star Amy Poehler used applied faith to achieve her goal.
Success Principle 4 – Going The Extra Mile
Going the extra mile is one of those ‘small things’ that makes all the difference.
Speaking of making a difference, read my blog post ‘How to Go the Extra Mile and Explode Your Bottom Line.’ [[https://www.jeffreyfeldberg.com/extra-mile/]]
Author Og Mandino says it best,
“Always render more and better service than is expected of you, no matter what your task may be.”
Going the extra mile does two things:
-
You create a legion of Raving Fans who sing your praise to anyone and everyone
-
Your Raving Fans assist in creating a profitable company.
Let me share a quick story.
I was at an industry conference and trade show for universities and colleges. Lack of money ensured that I did the trip solo.
The conference ended at 4 pm. By 2 pm most of the exhibitors, my competition included, called it quits.
At 4:15 pm I began to pack up when a gentleman walked up with some questions.
The truth is, I was the only person he could speak with!
For the next hour, I answered every question the gentleman could think of with a smile.
Most of the questions had nothing to do with Embanet.
With all the questions answered, the gentleman thanked me and left.
A few weeks later I received a phone call from the same gentleman who visited me at the end of the trade show.
The gentleman I spoke with was the President of a large university. The President appreciated my time and effort.
As a result of going the extra mile, I was invited to his campus to speak with his team about online learning.
Long story short, the President and the University became a customer. And all because I decided to go the extra mile.
Success Principle 5 – A Pleasing Personality
[tweet_box design=”default” url=”http://jef.tips/8fc” float=”none”]The difference between winning or losing business comes down yo Y.O.U.[/tweet_box]
People prefer to do business with people they like.
Your personality will either be your biggest asset or liability.
It was Success Principle 5 that launched Embanet.
For over a year I was struggling to get my first customer.
Although we take it for granted today, the Internet and doing things online was both new and scary.
This new thing called the Internet peaked the interest of a business school in the Midwest.
Tired of using video tapes (remember those!?), the Dean of the business school, Jon, was ready to make a change.
I will always remember the phone call from Jon.
“Jeffrey,” said Jon excitedly, I’ve decided to go with Embanet to make the switch to online learning. Let’s be honest. You don’t have any track record to speak of, and you look like you’re still in high school. Despite this, I like you and know that you’ll do whatever it takes to ensure my program is a success. Send me your contract and let me know when we can start”.
A pleasing personality made all the difference.
So how do you develop a pleasing personality?
Travis Bradberry is an author and expert on emotional intelligence.
Also, check out ‘5 Easy Ways to Be More Likable’ from the great folks at the muse.
Having a pleasing personality cost nothing and makes all the difference.
Success Principle 6 – Personal Initiative
Author extraordinaire Stephen King is right on point when he tells us:
“Amateurs just and wait for inspiration, the rest of us just get up and go to work.”
It’s easy to get caught up in procrastination or waiting for that ‘perfect’ plan.
Success Principle 6, personal initiative, is all about taking action N.O.W.
Personal initiative is also finishing what you start.
Easier said than done.
Between smartphones and the Internet, we’re facing an epidemic today of distractions.
Read my blog post, ‘Stop Wasting Time and Skyrocket Your Success.’ In my post, I document how the average workday presents over 60 or more distractions.
Know this. Every time you’re distracted it takes your brain 23 minutes to get back into flow.
How do maximize your time and results?
In the same blog post, I share 11 strategies to help you command life success.
Unfortunately, it’s too easy to confuse activity with progress.
To help you get things done, Funders and Founders produced this great infographic.
As important as taking the initiative is knowing when to say ‘no.’
When I started Embanet, I said ‘yes’ to everything. I was in experimentation mode.
Once I began to get traction and results I said ‘no’ more than I said ‘yes.’
My definite purpose helped me figure out when I should say ‘yes.’
Do you remember that one simple question to ask?
It’s this:
“Will this request move me one step closer to achieving my definite purpose?”
Time, and not money, is your most precious resource.
Take action and protect your time.
Success Principle 7 – Positive Mental Attitude
Ralph Waldo Emerson best sums up Success Principle 7 with his quote:
“Be careful what you set your heart on, for it will surely be yours.”
Have the wrong attitude, and you lock out success.
Period.
End of story.
Let me illustrate.
Suppose you purchased a red sweater.
Almost by magic, you start seeing red sweaters everywhere.
The day before, these red sweaters were nowhere in sight.
What happened?
Scientists call this the ‘Baader-Meinhof phenomenon.’
When you bought the red sweater, it registered with your brain.
A Huffington Post article says our brain “ensures that only the information relevant to our goals is allowed into our consciousness.”
Interesting.
When I launched Embanet in 1995, I was clueless and naive.
The ‘experts’ told me I was ‘crazy’ for relying on the Internet over dial-up modems.
The same ‘experts’ reasoned it’s easier to take the drive to campus and learn from a live professor.
Today these challenges, and not me, sound ‘crazy.’
But in 1995 things were different.
My positive mental attitude made it clear and obvious that the Internet was the only way to go.
It was also clear that learning in the comfort of your home or office was the ultimate in convenience.
I was open to new ideas and ways of doing things.
Embanet was more profitable, efficient and productive than its competitors.
Why?
My positive attitude allowed me to create best practices that met the challenge.
The competition and experts laughed and shook their heads.
Embanet changed lives.
Embanet’s customers, the schools, and Embanet had the last laugh … all the way to the bank.
[tweet_dis url=”http://jef.tips/8fc”]A positive mental attitude has you see the solution where others only see the problem.[/tweet_dis]
Success Principle 8 – Enthusiasm
When it comes to enthusiasm, Success Whisperer Napoleon Hill reminds us:
“A man without enthusiasm is like an automobile without gasoline.”
As with Success Principle 7, enthusiasm is a state of mind.
Let me bust a myth that has been circulating for too long.
People make decisions on emotion first and justify it with logic afterward.
Social programming tells you the logic rules.
It doesn’t.
Enthusiasm is contagious.
[tweet_box design=”default” url=”http://jef.tips/8fc” float=”none”]An entrepreneur without enthusiasm is failure waiting to happen.[/tweet_box]
From elevating your staff to your customers, your enthusiasm is fuel for you and your company.
The Zenger Folkman infographic below illustrates the difference enthusiasm makes.
To be clear, I’m not advocating you mindlessly pump your fists in the air and thump your chest.
Your definite purpose (Success Principle 1), ensures your enthusiasm is natural.
Yes, you’ll experience days that are challenging and tough.
This is where your enthusiasm is most important.
In my experience, when I’m feeling down it’s my enthusiasm that picks me right back up. And you know what, I rock my day and make a difference.
And if you up for the challenge, why not go from enthusiastic to charismatic.
Business Insider’s article ‘12 way to becoming a charismatic leader’ is a keeper.
Success Principle 9 – Self Discipline
A lack of self-discipline is like having a car speeding down a hill without any brakes or steering wheel.
Self-discipline keeps in check your enthusiasm, personal initiative and positive mental attitude.
At Embanet I developed what I now call the 24-hour rule.
What is the 24-hour rule?
When I hit a milestone or won a new contract, I would celebrate like there’s no tomorrow.
When I had a setback or defeat, I would feel the pain.
But win or lose, tomorrow is a new day filled with opportunities.
How do you develop and maintain self-discipline?
My top 7 hacks are:
-
Develop daily rituals, that when followed, move you towards achieving your definite purpose.
-
The night before or the morning of, write down the top 3 to 5 tasks to achieve. Remember, if the task doesn’t move you closer to your definite purpose, don’t do it. Whatever tasks you haven’t completed, move them forward to the next day.
-
Build in fun throughout your day and week to keep you refreshed.
-
Accept mistakes and move forward.
-
Know what your ‘kryptonite’ is and remove it from your working environment. As an example, suppose you spend hours playing ‘Trivia Crack.’ Remove the app from your phone to avoid temptation. If you have a tablet or extra phone at home, play the app on that device when you’re not working.
-
Get at least 6 to 8 hours of sleep each night.
-
Eat healthy.
Success Whisperer Napoleon Hill sums it up best when he says:
“Self-discipline begins with the mastery of thought. If you do not control your thoughts, you cannot control your needs. Self-discipline calls for a balancing of the emotions of your heart with the reasoning faculty of your head.”
Success Principle 10 – Accurate Thinking
With the rise of social media and ‘fake news,’ the habit of accurate thinking couldn’t be more timely.
Accurate thinking is the discipline of filtering information into two categories:
-
Important
-
Unimportant
Anything that moves you closer to your definite purpose is important.
It’s OK and even encouraged to seek information from other people.
What’s important is that you, and you alone, make the decision. Never let anyone do the thinking for you.
At Embanet, accurate thinking played a large role in becoming an 8 figure company.
Embanet set the gold standard in two distinct areas. The first area was online course development. The second area was the marketing and enrollment of students into degree programs.
We achieved a fierce competitive advantage that steamrolled over the competition. Embanet also benefited from a healthy bottom line.
And the secret to our success in these areas?
Embanet defied conventional wisdom and proved the experts wrong, time-and-time again.
Embanet was able to do this because of accurate thinking.
Success Principle 11 – Controlled Attention
The power of controlled attention, otherwise known as focus, is best summed up by Bruce Lee:
“The successful warrior is the average man, with laser-like focus.”
The numbers say it all, and it isn’t pretty.
Evan Asano reports in Social Media Today that we consume 116 minutes a day on social media.
YouTube clocks in at 40 minutes, Facebook at 35 minutes and Snapchat at 25 minutes. Each. And. Every. Day.
On paper, Embanet should have failed. Instead, Embanet became an 8 figure company.
Why?
Controlled attention, or focus, played a large role.
I had a burning desire for Embanet to succeed through helping working professionals.
My goal was to change the social fabric of society, one graduate at a time.
I thought about my definite purpose from the moment I woke up until I slept. And many nights I dreamed of achieving my definite purpose.
As I mentioned earlier, I said ‘no’ to the unimportant and ‘yes’ to the important.
As Embanet grew, my ability to focus became more difficult as I was pulled in many directions. Finding and hiring the right people helped.
But know this.
Controlled attention is two things:
-
Focus your mind on what you want and believe it will happen
-
Don’t focus on the thing you don’t want
As simple as this sounds, in practice this is challenging.
Master this, and you become a master of your thoughts and destiny.
Success Principle 12 – Teamwork
Behind every success story is a team that made it happen.
As Michael Jordan says:
“Talent wins games, but teamwork and intelligence win championships.”
Embanet was no exception.
As business grew and the demands on my time did the same, I knew that my future success depended on hiring right.
My goal was to fire myself through hiring people who could replace me.
I also mastered the art of delegation.
It was a great feeling knowing that a smarter and more talented person was getting things done.
The infographic below from PandaDesk is a great resource in deciding how to delegate.
Teamwork is all about the right people.
Always be on the lookout for talented people that can become part of your team.
Success Principle 13 – Learning from Adversity and Defeat
Having achieved massive success, I learned many valuable lessons. One of the most valuable is this:
[tweet_dis url=”http://jef.tips/8fc”]If you’re not failing, you’re not trying hard enough.[/tweet_dis]
Contrary to popular belief, failure is your friend.
My biggest success has happened right after my biggest failure. It’s only through failure that you become better and more prepared.
Looking back now, I can see that I was not ready for the success that was waiting for me.
As bizarre as this may sound, I needed to fail before I could succeed.
To understand why, read my blog post, ‘How to Welcome Failure For Spectacular Success.’
As much as so-called failure hurts, know that you’re one step closer to success.
Below are 10 questions that transform failure into success:
-
How did this happen?
-
Looking back, what could I change that would have led to a better outcome?
-
Is there anything I can do right now to turn the situation around?
-
Who can I turn to for an outsider’s perspective on my failure?
-
What assumptions did I make and were they right?
-
When could I have changed to avoid failure?
-
If I could do it all over again, what would I do and not do?
-
What have I learned from this situation?
-
Going forward, how will I prevent this failure from happening again?
-
Who can help identify blind spots in my thinking, assumptions, and behavior? Select someone who knows you well.
In closing, know this.
Failure is your best teacher.
Learn to master how you both deal with and learn from failure and the future is yours.
Success Principle 14 – Creative Vision
Here’s a question for you.
What do Richard Branson, Warren Buffett, and Bill Gates have in common?
Branson, Buffett, and Gates make it a point to think big.
In Richard Branson’s book, Losing my Virginity, he says:
“Because I sometimes think in life you’ve got to dream big by setting yourself seemingly impossible challenges. You then have to catch up with them. You can make what people believe is impossible possible if you set big enough targets.”
Embanet became an 8 figure company because of creative vision.
In the beginning, Embanet’s focus was hosting, course development and technical support.
The creative vision led Embanet to take on marketing and student enrollments. The same creative vision changed up our business model.
These two changes catapulted Embanet to an even greater level of success in every way.
When I led Embanet, our vision was to change the social fabric of society. To do this we pictured Embanet becoming the ‘operating software’ of the industry.
Norman Vincent Peale said it best through his book The Power of Positive Thinking:
“Shoot for the moon. Even if you miss, you’ll land among the stars.”
Success Principle 15 – Maintenance of Sound Health
When it comes to health I can say it no better than the wise, but unknown soul, who once said:
“The greatest wealth is health.”
I’ve been healthy and unhealthy.
I discovered the perfect recipe for being unhealthy. Combine too many plane rides, not enough home cooked meals and lack of exercise.
The thought of lacking energy, having a body that aches and brain fog make me shudder.
Never again.
I’ve since become vigilant on my health.
I watch what I eat, sleep 6 to 8 hours a night, and enjoy a moderate amount of exercise.
Although this takes time and effort, I’ve noticed a huge difference.
With so many resources available on what to eat and how to exercise, I encourage you to try it for yourself.
Whatever doesn’t work, toss.
Whatever has you feel great, keep.
But know this. Your business success will falter if your health falters.
Take care of your body, and it will take care of you.
Success Principle 16 – Budgeting Time and Money
While both time and money are important, your most vital resource is your time.
From a billionaire to someone who’s broke, everyone has 1,440 minutes every day.
No more.
No less.
What I started Embanet I had little to no money and a lot of time.
Out of necessity, I leveraged my time to build the company. Each of the Success Principles I’ve talked about performed like a symphony.
One principle built upon the other.
From a lack of money, I learned the power of knowledge and what to do with it.
Know this.
Being able to write the check doesn’t mean you should.
Embanet couldn’t write the check. Instead, time was the currency use to master the process and hack the system.
Despite having a lot of time, I had a sense of urgency. I didn’t put things off to the future.
It wasn’t always like this. In Embanet’s early years, we lacked discipline around time. We did not differentiate the urgent from the important.
It wasn’t pleasant.
That said, this all changed with the mastery of budgeting time and money.
In other ventures where I could write the check, and did, failure resulted. Those ventures were rich in cash but poor in knowledge.
When Embanet began to grow, I never forgot where the company came from.
When Embanet had profits, I still ran the company as though funds were scarce.
As a result, our efficiency and cost effectiveness were one of the best in the industry.
To be clear, it’s wasn’t easy to be efficient in budgeting time and money.
This meant that the Embanet staff had to figure how to do more with less.
When traveling, it was two people to a hotel room. No exceptions. Myself included.
Making a trip in a day, even a long day, was preferred to the cost of staying overnight.
And when it came to time, the joke with the Embanet team was that one month for us was like three months for everyone else.
Despite the sacrifices, Embanet’s culture thrived. Our customers were profitable, as was Embanet.
Success Principle 17 – Cosmic Habitforce
Napoleon Hill coined the term ‘Cosmic Habitforce.’
What’s a cosmic habit force, you ask?
Great question.
Who better to answer this than Napoleon Hill himself, who said:
“Man is not bound by instinct; man is bound only by the imagination and the willpower of his own mind.”
And building upon the last quote is another quote from Hill which seals the deal:
“What the mind can conceive and believe, it can achieve.”
It was no different for me.
In my mind, I imagined and felt what it was like for Embanet to change the social fabric of society, one graduate at a time.
My entire outlook focused on Embanet succeeding.
In my mind, failure was not a possibility.
Every time I experienced a challenge or difficulty with Embanet, I looked for the lesson. I challenged myself to find a better way.
I would not take ‘no’ for an answer.
Is this to say that everything worked out as I desired?
Of course not.
Despite the setbacks, I took great comfort in knowing I would find a way even if I couldn’t see it.
And isn’t this what life and business are all about?
Being an entrepreneur is an act of pure faith. In many instances, blind faith.
From the depths of the great unknown have come solutions to mankind’s problems.
If being an entrepreneur is an excuse to solve problems, then cosmic habit force is the way to solve those problems.
With this in mind, it’s only appropriate to close out this Success Principle the same way we started it.
“What the mind can conceive and believe, it can achieve.” – Napoleon Hill
The 17 Success Principles That Built Me An 8 Figure Company
17 success principles that have forever changed the world.
Entrepreneurship is simply an excuse to solve problems and help people.
The 17 success principles from Napoleon Hill provide you with the system to succeed.
The story of Napoleon Hill is an excellent example of where talent meets opportunity.
Hill’s talent was being an outstanding researcher and interviewer.
The opportunity arose from the most successful businessman ever, Andrew Carnegie.
Magic happened when Carnegie opened up his golden Rolodex to Hill.
Hill met with and interviewed the business titans of his day. Hill also interviewed thousands of other successful people who were not famous.
The end result?
Hill reveals principles that are repeatable, stand the test of time, and powerful.
Each principle on its own makes a difference.
But it’s only when you combine the principles together that the magic happens.
One principle supports the next, like a lock-step system.
Whether you like or dislike Hill, the facts speak for themselves.
Through his books, Hill has created more millionaires than anyone in recorded history.
Ever.
It Worked For Me And You Can Do The Same
So what happened, you ask?
Great question.
You can read more about my story in my chapter in this book.
I found a massive problem to solve. In my case it was a multi-tiered problem which consisted of:
-
I found a massive problem to solve. In my case it was a multi-tiered problem which consisted of:
-
Helping universities recruit quality students into their online degree program
-
Keeping the students in their seats once they enrolled in their program. Average completion rates before Embanet arrived on the scene was 60% on a good day. With Embanet, completion rates were as high as 93.8%.
-
Ensuring Embanet’s partners (e.g. the universities) were profitable. And were they ever!
When I started Embanet, it would be out of my room in my parents’ attic. Thirteen years later Embanet was in its own building and had nearly 200 employees.
My definite purpose of changing the social fabric of society, one graduate at a time, became a reality.
Embanet was privileged to help enroll:
-
Presidents of Fortune 100 companies
-
High ranking government officials
-
Law enforcement professionals
-
Single mothers.
The one thing in common for the students was the desire to change their lives for the better through education.
My business partners and I achieved this over thirteen years. It was a great ride that was fulfilling and life changing.
It was not an easy decision to sell Embanet.
My baby had grown from nothing into a 8 figure company that dominated the industry.
But it was time.
My passion is solving problems and creating. It’s the same for my business partners. Embanet required a different leadership style to continue to grow and prosper.
Two venture capital groups teamed up and purchased Embanet. This same group later sold Embanet to Pearson.
And all of this from 17 Success Principles and a kid with no business experience
Download my 17 Success Principle Cheat Sheet on how I built a 8 figure company
Conclusion
On paper, my first venture out of school, Embanet, should have been a spectacular failure.
Think about it.
I had zero business experience.
There was little to no money.
I lacked a team, let alone seasoned business executives.
All I had was an idea and a passion for solving a problem and helping people.
So how is it that kid, aka yours truly, built a successful and profitable 8 figure company on his first try?
Sound too good to be true, or like a storyline right out of Hollywood?
The truth is stranger than fiction.
Could you say that I was lucky and was at the right place at the right time?
Glad you asked!
I believe the harder I work the ‘luckier’ I become.
Am I some genius who has a unique ability?
Yeah, right! That would be nice.
I’m no different than you.
In fact, if I had a dollar for every mistake I made, it would be larger than what I amassed!
So what was my ‘secret’?
You already know my so-called secret.
It’s the 17 Success Principles I’ve shared on my blog.
Each Success Principle on its own makes a difference.
Combine all 17, and you command success.
Whether you’re starting out or you’re looking to grow your existing business, know your future success is waiting for you.
These 17 Success Principles will be your guide and your way.
So what are you waiting for!
Here’s to you and your success!
With My Warmest Regards,
Jeffrey Feldberg
Quote of the Day: “You are a human with one life and it is up to you to make it the best life you can.” -Dan Howell
