Just because entrepreneurship is a difficult journey, it does not mean that you should avoid it. The modern business world is fraught with challenges. For starters, there is this intense competition from all fronts. Also, customers have become more demanding and require more from brands. This complex environment is the reason why 33% of business start-ups fail within the first six months. In addition to this, 75% of start-ups fail within the first three years of operation.
Yet, in this complex world, some entrepreneurs have overcome the obstacles and became a success. We interviewed one such successful entrepreneur known as Sal Shakir. Sal is the co-Founder of ALL IN Entrepreneurs, Offer Key, and National Cash Offer. We had a chat with him on how to take your business to the next level.
Who Exactly Is Sal Shakir?
Sal Shakir is a serial entrepreneur, real estate investor, keynote speaker, and so much more. He is the owner of the largest real estate companies in the U.S that’s known as National Cash Offer. Shakir’s life is an inspiration. This serial entrepreneur came into the U.S as a war refugee from Iran. “My family escaped the war in the Middle East and came to the U.S. to pursue the American dream. This pursuit was not easy. I have had to work on odd jobs such as painting fences. I also worked in a dry cleaning service and as a helper within an AC tech,” says Shakir.
Before venturing out as an entrepreneur, Shakir worked in the U.S Army as a trainer. The skills he obtained while in the army paved the way for his success. In 2013, he started selling cars and buying cars. This venture led him to begin his first car dealership business. To date, Shakir runs 26 firms in total. The success that he has experienced as an entrepreneur is proof that you can hustle your way up.
Taking Your Business to the Next Level
Shakir is a man who loves helping people to be free and remove financial barriers. He has spoken in several events on matters such as economic freedom, business tactics, and technology. When it comes to taking your business to the next level, Shakir advises entrepreneurs to develop a well-thought-out plan. Most companies fail because the owners set out to start the firm out of blind faith. The owners did not perform any market research to determine if there is a need for their product or service in the market. Secondly, the owners did not have a long-term financial plan that would cush them from uncertainties.
What are the top reasons that businesses fail? 42% of firms fail because there is no market need for their product or service. 14% fail because of poor marketing tactics, whereas 23% fail because they do not have the right team to help them achieve their goals. Yet, if you are a business start-up and you are struggling, there is no need for you to give up. Instead, you can take the time to diagnose your business to get a holistic understanding of what is working and what is not working. According to Shakir, you should not try to take your business to the next level as a solo entrepreneur. A solo entrepreneur has to take on all the pressure and make all the decisions concerning the company. However, when you partner with the right team, you can accommodate fresh ideas and different perspectives. These new ideas can take your business to the next level.
Here Is What You need To Know About All In Entrepreneur
Shakir started the All In Entrepreneur podcast as a platform for helping entrepreneurs obtain the knowledge they need. “We want to share with other entrepreneurs the strategies that we have used that made us seven figure earners,” he says. Shakir founded the podcast together with his business partners, Carlos Reyez and Alex Saenz. All three men experienced struggles that forged them into successful entrepreneurs. The podcast offers fresh insights on how to make it in the competitive market. Shakir’s recent podcast, for instance, discussed how businesses can still succeed in this COVID-19 era. When you listen to such mentors, you will likely obtain knowledge that will help you scale up your business to the next level.
What challenges are you currently facing as a business owner? Kindly share your experiences with us in the comments section.