Successful entrepreneurs come from a variety of backgrounds, and their journeys start at different stages of life. But nearly all have lessons about how to create success that we can learn from.
Forbes is continually shining the spotlight on individuals who have managed to overcome hardships and wind up on top.
Whether you’re starting out on your own entrepreneurial journey or just keen to know what goes into building a winning company, here are four lessons you can learn from top Forbes entrepreneurs.Get your brand story right
Chris Pfaff, probably better known to MTV reality TV fans as “Drama” from his stints on two shows, followed an unusual path to entrepreneurial success. With no college education, no background in business, and no real idea of how to run a company, he started the streetwear clothing label called Young & Reckless. Launched on the TV show Rob Dyrdek’s Fantasy Factory (Dyrdek is a professional skateboarder and Pfaff’s second cousin), the line of T-shirts, tank tops, and accessories became profitable right away. (See also: 4 Best States to Start a New Business In)
Despite its rapid success, the company later experienced setbacks as Pfaff experimented with different marketing techniques. Customers had come to associate the Y&R name with the lifestyles of many of its early ambassadors: rappers, skateboarders, and BMX bike riders. But the company flubbed when it hired a celebrity who didn’t have a story that fit the brand’s carefree, “reckless” image. “There was nothing reckless to tell,” Pfaff told Forbes.
It taught Pfaff that the most important thing about marketing is making sure it embodies the spirit of the brand. (See also: How to Start Your Dream Business)The take-away: Your customers buy into your story as much as the product or service you’re offering. If a marketing idea doesn’t embody the brand, don’t do it.
Failure is part of the game
Adam Pisoni is a great example of someone who has picked himself up after stumbling. Pisoni, a high school dropout, says naive optimism led him to launch a web design firm called Cnation in 1995, when he was just 19 years old. That optimism, plus hard work — Pisoni put in 100-hour work weeks — paid off as the company grew to 30 employees and over $2 million in sales. Cnation made its name by designing websites for large brands like CBS MarketWatch, Fox Interactive, Nissan of Japan, and Honda, earning the latter a Clio award for interactive design in 1997.
But everything changed for Pisoni after the dot-com crash of the late ’90s. As clients tightened…
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