A person who is honest and moral is the most important trait for success.  Everything else can be taught, but honestly is the inner core of who you are.  This success factor must be innate and encompasses the little things as well as the big things.  It can be said that without first having integrity a person has nothing.  Always do the right thing, but if an error occurs, own it and vow to do better.

Being honest is also as much about being honest to others as it is about being honest to yourself, as only ‘you’ know the true effort that you’ve put into a task or goal.   Never cheat yourself or lie yourself into thinking your effort is the best it can be.  Make a point to honest in everything you do.  This is not easy as human pride is a great flaw that everyone has to fight.  Ever drop and break a glass?  Ever try to clean it up quick, throw it away and say nothing?  This micro example shows the embarrassment of even the silliest mistake.  Don’t hide from your mistakes, say them aloud, own it and vow to do better.   Remember the cover up is always worse than the offense.  Be honest.

Overall to be considered successful and valuable you have to act it.  This means everything from being on time or early to something as simple as introducing yourself to someone you’ve never met.  Your job doesn’t need to require fancy suits or high tech equipment to Act the Role.

Acting the role can be as simple as shaking hands and introducing yourself to guests to going out of your way to assist in a work getting done outside of your job function or responsibility.  This concept is a transition from traditional thinking because the standard hourly employee is taught to keep their head down and work, but as you assume the role you must break through traditional boundaries.  Act important (not snobby) and you will be treated with importance and your ability to reach higher levels of success are limitless.

True education comes in the working world.  Learning in the ‘real’ world is less about doing it because you have to (high school / college) and more about doing it to be smarter than someone else who wants your job.  Learning can be as simple as figuring a way to get work done faster or with fewer mistakes or it can be as complex as learning intricacies that are beyond you job function and taking this knowledge to develop ways to increase your company’s bottom line.  NO matter the task it is never good enough to simply learn how to do it.  To be a success you have to learn how to do it, and understand why it is the way it is. By understanding you can teach, educate and manage future employees.  Learning can also lead to major discovers, a life altering idea or accomplishments you never thought possible.

You can always tell the non-learners from the learners in any company.  They are the simplest to spot because the learners have a zest about them that can be seen miles away.  If a learner goes head to head with a non-learner for a promotion it is almost always assured the learner will get the job.  Ever see someone get passed for up for a promotion even though they may be better at a certain task or job function than the person who got the promotion?  It happens all the time and the person who gets that job is a LEARNER.  Don’t let yourself get passed up because you decide to stop learning or because you don’t take the next step to ‘understand’.

Asking yourself ‘what else can I do’ is powerful.  Simply by trying to do more or get more of the same work done is better than the average person. Most people hit a mark and say ‘there I’m done’ or worse some get close to the mark and say ‘that’s good, I got close’.  The successful person says, ‘ok I finished that faster than expected, I’m going to find more to do’, or the ultra successful person says, ‘I’m exhausted and I finish my goal, but I’m going to do a little bit more anyway’.  Seeking More is not easy, but when you do you can be sure you are better than 98% out there who would never even dream of seeking more.

Another point to ‘seeking more’ is to find extra work to do without asking what needs to be done. Asking is good to know what’s most important, but if you see something that will help your company that needs to get done, just tackle it.  Seek more out and more success will follow!

Don’t be a Piker.  Watch the movie Boiler Room to understand the definition of Piker.  A Piker sifts through the day staring at the clock waiting for quitin’ time.  As long as you are busting it all day no employer would care if you went beyond the set hours. If they do care, then they have the problem and you are over-qualified.  Further no employer wants a salaried employee who’s a Piker.  The clock-watchers are the first to go in any company.  Work to accomplish work; do not work to simply fit work in around set parameters of time.

Doing work to pass the time is the wrong way to do work.  Ever look at the clock and say, ‘yes, only 1 more hour?’  This is the enemy of success.  Successful people work to accomplish goals, they don’t work to fill in time.  Abandon the clock and focus on the end goal or making the current task at hand the best it can be and you’ll not only accomplish more, but you’ll be more satisfied with your life’s work.  It is impossible to feel strong self worth if you feel your job is meaningless and it is impossible to have a meaningful job if you stare at the clock.  Just remember countdowns are for new years and shuttle take offs only!

Individual success is achieved through a series of mundane and major events that define character and create the person you CHOOSE to be.

1.    Never Look at the Clock
2.    Own IT! (Be the Best)
3.    Seek More
4.    Always Learn
5.    Act the Role
6.    Be Honest
7.    Set Goals
8.    Don’t Leave Work Unaddressed
9.    Make Nothing “Oh I just do”
10.    Don’t Cut Corners
11.    Train Your Brain to Think
12.    Cut Costs or Bring Value
13.    READ, READ, READ
14.    Do What You Say You are Going to Do
15.    Delete the Negative Bug
16.    Earn IT!

Comfort Zones & Good Enough are normal…  CHOOSE to be abnormal and you will be CHOOSING Success.

…Next to come a breakdown of each KEY to Success.

One of the hardest questions that new entrepreneurs face is: When to pay themselves?  I have seen all sides of this question.  I have seen those who won’t even start a company until they gain enough capital investment for a paycheck and I have seen those who always find a reason to hold off on paying themselves.  Which way is right?

It probably won’t surprise you to hear that the right way is a happy medium to both of the described ways.  But the ‘why’ is what might interest you.

1. Payday immediately – This way is wrong for several reasons.  First, you may never even start your company because you are ‘waiting’ for enough capital investment to pay yourself.  Second, many of those who are looking to invest don’t want to pad your pockets.  Whether angel investors or friends, most ready to give you money for your idea will want to give it to something in the business.  It is hard to invest in a company when you know it might actually be going to your new car!

The next reason is that your new company is too cash flow fragile to start paying yourself.  Essentially by taking the money yourself you are limiting your company’s future growth by limiting its purchasing power.  You will find many things you should do for your company that you can’t because you lack the funds.  Just remember if your company starts to succeed you’ll earn a much greater paycheck if you just show some early sacrifice.

A last and final reason to wait on the paycheck is to wait until you’ve earned it (wait until you start to reach success).  By waiting you won’t be dilusional that your company is doing well when it is not.  You’ll be hungry and literally working for food.  With your back up against the wall you’ll find that you’ll work harder than you ever have in life.  You also won’t over-charge for your product. I have seen inventors seemingly try to earn all their investment back in one sale because they are trying to get ‘paid’ right away.  By pricing to get paid asap, you are most likely pricing your product(s) out of potentially a real success.  Buyers are smart and sales will be severely limited if your pricing is padded to give you that paycheck now.  Work hard, stay hungry and you’ll get to a paycheck.

2. Waiting for Payday – This way is also wrong for several reason.  First, you must recognize your value.  No one else is going to recognize all your hard work by paying you, so you must do it yourself!  Think about this; if you don’t pay your Accountant, Lawyer, or Graphic Designer they’ll come after you and demand their money.  If you don’t pay yourself no one will come after you… but why are you less valuable than your hired out professionals?  Truth is, you are the most important person in your company and once the company starts to succeed that must be recognized by a paycheck.

The next reason is that if your company is really going well and has a chance to be successful, it must be able to support your paycheck.  No one will want to buy your company if they look at the books and realize that the ‘owner’ never got  paid.  This will scare off any potential purchaser as they will be concerned that something is wrong with the company.  They will feel the company can’t afford the needed expense and will not be convinced until they see the necessary expense on the books.

A last and final reason to pay yourself when the company starts to succeed is that you deserve it.  You didn’t leave a cushy (yet boring) job to earn nothing.  You quit so you can make a better life for you and your family.  Respect yourself and you’ll find a greater appreciation for ‘doing your own thing’ and the entrepreneurial life you dreamed of.

It’s official Dorm Co, www.DormCo.com has launched.  Most of you know I launched Yak About It back in August 2009 (the same month I sold my first company).  Now after 5 months of intense planning I am pleased to say Dorm Co, (my second take on retailing college dorm essentials) has launched.

Being excited to launch may not surprise you.

What might surprise you is if I told you I don’t care about sales for the first 1-2 months.  Sure, getting sales is a good thing, but it’s not the focal point.  What is the focal point is ensuring the company and website foundation is strong enough to take on a large amount of orders.  Many entrepreneurs aim to race for the quick sale only to leave the entire company vulnerable to faltering long term.  My best advice is to build for long term success and to create a company that puts you in the best position to sell in the future or grow into a large functioning entity.

If any of my fellow entrepreneurs have feedback for me regarding Dorm Co please feel free to share the good or the improvement ideas at Jeff@DormCo.com.  In kind I would be happy to review your website and/or products and offer my opinions.

Thanks for helping me take the first couple of months to make a strong company foundation!