“You don’t have to be great to start, but you have to start to be great.” — Zig Ziglar

BE SMART

Want to know a billionaire’s rules for starting a business? Here’s what Blackstone CEO/Chairman Stephen A. Schwarzman calls his “three basic tests,” which he believes any new business must pass:

1. “Your idea has to be big enough to justify devoting your life to it. Make sure it has the potential to be huge.”

2. “It should be unique. When people see what you are offering, they should say to themselves, ‘My gosh, I need this. I’ve been waiting for this.’”

3. “Your timing must be right. The world actually doesn’t like pioneers, so if you are too early, your risk of failure is high. The market you are targeting should be lifting off with enough momentum to help make you successful.”

“Sometimes, success in life is knowing one’s limitations.” – Stephen A. Schwarzman

FINAL THOUGHTS

Tell me this:

What’s the main challenge you’re having with your business right now?

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