If you don’t know who Andrew Carnegie was, he was a business magnate from the 1800s, and his company Carnegie Steel was mainly responsible for providing all the steel used in construction and railroads during the U.S. urbanization and expansion era.
Steel was used in everything and since it was the industrialization era, it made Andrew Carnegie a very rich man.
In fact, he was the richest in the world at the time.
He was worth around $372 billion dollars in today’s money.
This makes him the second richest man in history ( John D. Rockefeller being the first).
But one thing he was also known for was giving advice in his later years once he turned away from business and more towards philanthropic efforts.
He is also known as the man who gave Napoleon Hill the money to go out and write about his interviews with the richest men and turn their knowledge into the book Think And Grow Rich.
In this article, I’m going to share with you some of the best advice Andrew Carnegie ever gave to young entrepreneurs.
This means that if you are not having fun with what you are doing then you cannot have success, because misery discourages creativity and motivation.
If you can manage to make what you do fun for yourself most of the time or at least fulfilling, then you’ve won 90% of the battle because there won’t be much stopping you.
You won’t need to be finding excuses to avoid work, in fact, you’ll want to work every chance you get because it is genuinely enjoyable.
Find things to love about your business or find a business you love.
People who fail are people who switch between businesses all the time.
I’ve written this in another article but the timeline of business success has 3 parts:
- Beginning — Where you’re making little to no money
- Middle — Where you’re making a moderate amount of money
- Success — You are where you want to be
If you keep switching between businesses, then you are forcing yourself to complete the beginning stage over and over again, never reaching the middle of success itself.
Stick to one thing until it works.
Then you can think about moving into different areas.
If you think you see a different method that would make you money faster, ignore it because you’re probably closer to success with what you are doing now.
If you only listen to the advice random people tell you, then you will be dragged around life not really know why you aren’t successful.
But if you only start taking advice from people how are where you want to be then you will find yourself on the right path to success, because they all say the same things.
Successful people all say that you need to:
- Work hard towards your goals
- You need to reject what society tells you to do unless you want an average life
- You need to reinvest your money into your business and other assets.
But this is just the bare minimum on common advice, if you read more you will notice a lot more similarities on the advice they give.
To the point where you will start pointing out the cliches.
So only take advice from people who are where you want to be and you will get to where they are in life.
If you want to grow your business, then you can’t do all the work by yourself, you need to be able to delegate most of the work to more skilled people.
That way you can focus on building the business instead of working in it.
If you find yourself doing most of the work, then you aren’t an entrepreneur, you are just a worker in your own business.
Focus on getting yourself to the point where the only thing you have to worry about is making big decisions about the company’s future.
Learn how to hire and learn how to create business processes.
These are the keys to getting your business to work without you.
Andrew Carnegie was a very wise man who understood the importance of business, his mind was unclouded by bad advice because he good at determining what worked and what didn’t.
Follow his advice and you will get far in business.
John D. Rockefeller’s Advice For Young Entrepreneurs
Bill Gates’ Advice For Young Entrepreneurs
Tony Robbins’ Advice For Young Entrepreneurs