I remember meeting the CEO of a middle-sized automation company that now does 10 million dollars in business with huge giants like Nike, Adidas and Walmart, at the time no one respected him nor believed in him, they assumed that he was just someone suffering from delusions of grandeur and would fail quickly. Most people thought that a skinny and frail Mixed Jewish, Chinese and African American who was bullied during his school years would manage to make it big in an industry that many people weren’t even sure would work in the slightest.
There are a couple of indicators that can tell you if a business has a decent chance of being successful.
Here comes our list of the best indicator of future business success:
- Chip on Shoulder
The man, whom I will identify as LYM, was a frail immigrant who was bullied during his years in school. He was of mixed Jewish, Chinese and partially Afro-Carribean ancestry. For the most part people didn’t take this skinny man that seriously, he was a nobody to most people and even when he made it to a great business school nobody thought much of him.
- Strong work ethic
Work ethic was strong in LYM, he was not only a very hard worker who managed to get a 30+ score on the ACT (top 1% of his school and top 5% of his class) but he could also work in-human amounts of work at a time. He once went for 24 hours straight on just coffee alone trying to fix a problem that was in the automated robot arm, he spent 18 hours tinkering with individual components and 6 hours managing to fix the component he identified as being faulty. This kind of work ethic is what can make or break a business.
- Need to prove oneself to others
- OK with risk taking