Editor’s note. Harrison Rogers is the CEO and Founder of HJR Global and a contributor and a regular guest on the nationally syndicated Price of Business show, which is one of the longest running shows of its kind in the country.
Rogers is a serial entrepreneur and investor who is passionate about turning ideas into lucrative ventures. Since 2012 he has launched several companies of which some rank very high on the Inc 5000 list of fastest growing companies in America. Harrison found another passion after having turned around a few distressed companies and returning them to very healthy and profitable positions. Moving forward Harrison is just as excited and passionate about investing in and helping distressed companies as he is investing in and starting new ventures.
Recently Rogers wrote about the way the most successful people in business think. It provides fascinating insight on the real world of business. The following are excerpts from that important article.
On Jeff Bezos of Amazon fame:
Jeff Bezos created Amazon in a garage in Seattle. Before that, however, he attended Princeton and worked as the youngest senior vice president at an investment firm that he founded, D.E. Shaw. Later, he decided to quit to sell books online. That daring decision has put in him the record books as one of the most successful businessmen of all time.
Bezos has a long history of entrepreneurship. He created his first business when he was in high school. His company, the Dream Institute, was an educational summer camp for fourth through sixth graders. After creating two investment firms, Bezos decided to quit the investment world and dive head-first into e-commerce. He developed Amazon in 1995. Today, Bezos is worth over $160 billion, making him the wealthiest American.
Bezos notes that part of the reason that he has been so successful is that he is always thinking about the future. Bezos explains that his success has been the result of thinking two or three years ahead, constantly planning his next move.
On Mary Kay of Mary Kay Cosmetics Fame:
Mary Kay Cosmetics is a household name in the beauty world. But, Ash had to work hard for her success. When Ash was just seven, her father was diagnosed with tuberculosis. She had to help support her family and take care of her father while her mother managed a restaurant and worked an average of 14 hours per day.
Ash married at age 17 and had three children. She had a few jobs, but she became frustrated when she saw her male colleagues getting promotions and raises while she was left behind. As a result, she struck out and created her own company, Beauty by Mary Kay. Her business model is focused on giving women the power to create their own business.
On Handling Difficult Situations:
Dealing with a stressful situation is difficult, but successful businesspeople often turn challenges and adversity into an opportunity. Thriving in tough conditions is the best way to set yourself up for a successful venture. You can use the following quick tips to turn a tough situation into an opportunity for growth. Remember CORD, as these concepts are intertwined:
- Commit. Remember why you are doing what you are doing. Keep your “reason” at the forefront of your mind.
- Outlook. Keep a positive outlook, not only for yourself, but for those you are leading as well. Successful businesspeople remember that their team is looking to them for guidance.
- Responsibility. When something negative happens, especially if it is your fault, you need to take ownership of it. Recognize the error and address it immediately. Making yourself accountable directly allows you to avoid dwelling on why it went wrong. But, it also gives you the ability to focus on how to move forward and learn how to decrease the likelihood that the situation occurs again.
- Detach. Many people take adversity personally. You should keep in mind, however, that your setback are rarely personal. Keep your emotions under control and push forward.
Every situation is different, but how you approach it and react to it will set the stage for your future. Successful businesspeople use these concepts to excel – and you can too.
Learn more about this topic by checking out the rest of Harrison’s article. Learn about Bill Gates, how to deal with difficult people, and more — thinking like a business leader.