When asked about what he learned from the 1000 tries he took to invent a lightbulb, Thomas Edison said he found 999 ways not to create a lightbulb. This sort of mentality is what defines Sam Ovens, whose first few businesses failed. Today, he stands as the multi-millionaire owner of several companies built on the premise of learning not to fail. Here’s what he discovered on his journey to greatness.
Starting With A Proven Method…and Failing
Sam’s first business was something that he knew worked. He did the research and saw the results from other places. With his tech skills, he whipped up an online reverse job board and waited for the money to come rolling in.
The money didn’t, in fact, come rolling in. It failed within a month, as did the following two businesses he founded. Yet he didn’t quit the path of being an entrepreneur despite it seeming like anything he touched would fail. He worked out how to be better at what he was doing and learned from his mistakes.
Striking Gold in Business Consulting
One of the most crucial things about failing is that you learn what not to do. As a young man, Sam had already failed to make a go of business several times over. He already ruled out jumping into a nine-to-five because that wasn’t his style. But there was something he could do.
Instead of other people failing by doing the very same things he did, he thought he could teach them how not to fail in the same way. At the tender age of 22, he opened a consulting business at consulting.com, and his fortunes changed as owner after owner came to him for consultancy.
Not Sitting on His Laurels
Despite having a massive following in his consultancy, Sam realized he couldn’t sit down and accept what was happening. Instead, he wanted to build something that would help others, and with that, he founded Skool, a platform that allowed creators to teach and develop communities around subjects.
It exploded in popularity, and today, it provides a helpful service to hundreds of communities to host their content and engage in discussion. Through all his ups and downs as a consultant, he’s made a difference and advised others on how they can become independent the way he has.
Building a Personal Brand Fast
Sam mentions that one of the first things new businesspeople should do is put their personal brand out there as soon as possible. A personal brand gives the people who interact with your business confidence. The more of a reputation you have, the better they feel working with you.
He also advises new entrepreneurs to reach out to other people and get in touch with them to spread their brand around. The more people in your network, the more likely you’ll get jobs through referrals. Know your worth as a professional, and others will know your worth as one as well.
Seek Publicity Where You Can Find It
How do you build a personal brand fast? Sam says that it’s all about being seen. He advises people to look for brand exposure and seek places to talk about themselves. He also states that a lot of new entrepreneurs tend to avoid publicity spending because they see it as a bad thing.
One of the best things an entrepreneur can do is use their spending as a marketing budget. The returns will come in the form of jobs and reputation in the industry you’re working in. Each media hit, social post or guest blog will bring people in contact with your brand, and that’s what you need.
Look At Your Existing Networks
Sam advises that you may already have many potential connections in your existing networks. Most new entrepreneurs try to reinvent the wheel and restart their networking journey, but it might be better to look at the existing networks you’re a part of.
Friends, family, family of friends, and everyone who knows you or knows of you could be a potential client or refer a potential client to you. It’s also easier for new entrepreneurs to approach someone they know a little bit than to approach someone entirely new to them.
Keep Learning No Matter How Old You Get
Most of the older people that Sam has met in business have remained profitable because they have kept learning no matter how old they’ve gotten. There is always something new to know, and Sam advises all young entrepreneurs to support their learning journey going.
Sam himself is a proponent of self-learning, as most of what he knows about marketing comes from his own reading and learning on the topic. He intends to keep learning and improving on the things he’s already learned.
Rejection Is Temporary
When you’re an entrepreneur, you’ll probably be hearing the word “no” a lot. Business owners and founders get more rejections than they get approvals about their business ideas. Rejection can break down even the strongest of mindsets, but Sam insists it’s temporary.
As a self-proclaimed natural introvert, he has had to push himself out of his comfort zone to connect with potential business partners and funding sources. He suggests rejection isn’t failure but a way to improve how you present your business idea. As ever, Sam’s approach is all about failing upward and learning from your mistakes.
Build More Than Just a Business
The thing Sam wants entrepreneurs to learn is that a business is not just a business. It’s about finding what works and growing and developing the failures in the modern world. Quitting one losing business and then finding success is no different than quitting twenty before success comes to you.
Sam offers training and support for others through his consultancy business. He also provides a place where people can build communities and develop the necessary skills to become entrepreneurs. Sam wants more people to find their freedom, and he’s willing to show them exactly how to get that done.
