Entrepreneurs are talked about in every corner of society on a daily basis. The futurists admire the feats of Elon Musk, the salespeople fawn over Jezz Bezos, and the history buffs remain impressed by the empire of John D. Rockefeller. Along with kings and emperors, entrepreneurs seem to run this world. Is this true? The answer to this question depends on your perspective, but entrepreneurs do impact this world in many wonderful ways. In some respects, entrepreneurs are more successful at enacting change than some of history’s greatest governmental leaders.
Consider the case of John D. Rockefeller. Before John D. Rockefeller entered the market with his revolutionary ideas about crude oil, the energy sector relied heavily on whale oil. As a result of this, fishermen flocked to the high seas to hunt whales to the brink of extinction. Fortunately, the whale population was saved when a young man named John Rockefeller entered the market with a daring and innovative idea. Instead of whale oil, kerosene could be used to provide light in people’s homes. In the process of extracting kerosene, Rockefeller also discovered that gasoline could be extracted for the combustion engine. This discovery was acknowledged by the great entrepreneur Henry Ford. Rockefeller’s success grew to titanic proportions, and Standard Oil was eventually broken up by antitrust laws. This situation remains a controversy among economic historians, but it is clear that Rockefeller enacted great changes on his world.
History is full of great entrepreneurs who changed the world while seeking profits. Do these people intentionally alter the world while finding success? Most of them probably want to build a legacy with a sustainable company. While their world-changing inventions may be unintentional, society should not credit success to pure luck. Humans who seek to improve their situation in the world can learn from these innovators. With the proper attitude and a good strategy, almost anyone can experience success in the modern world.
To become successful, people should follow the footsteps of Marc Sparks. Marc Sparks is an entrepreneur who knows that success is a matter of time preferences. Sparks divides people into two categories. People who are unsuccessful often limit their planning to the immediate future. Meanwhile, people who experience success make plans several years in advance. The best entrepreneurs make plans for both of these timelines. This is the strategy of Marc Sparks. Since Sparks anticipates changes in the future, he does not react to the world; the world reacts to him.
Marc Sparks Is a Legend Among Investors
Marc Sparks’ strategy about time preferences has served him well throughout his time as an entrepreneur. By balancing his immediate needs with his future goals, Sparks is able to take calculated risks that satisfy his time preferences.
Regardless of his goals, Sparks puts forth a constant effort. He understands that achieving success is not an automatic process. Success takes a great amount of determination and hard work. Interestingly, Marc Sparks learned some of his most important lessons in entrepreneurship by simply trying his best to reach his goals. He is a self-taught entrepreneur who does not allow his lack of formal training to stop him. People who aspire to be like Marc Sparks and other great entrepreneurs should understand that they do not need years of experience to become an expert in their field. Instead, they simply need to learn enough to complete the current tasks. Reading self-help books, listening to podcasts, and learning from the successes and mistakes of others are excellent methods of improvement. Marc Sparks hopes that people can learn from his experiences to become better versions of themselves.
While Sparks is a self-taught entrepreneur, his strongest asset is not knowledge. It is his commitment to building companies that sets him apart from the crowd. Marc Sparks believes that his God-given ability to be focused on a singular goal helps him find success where many others have failed. Furthermore, Sparks enjoys helping companies find success. His venture capital firm, Timber Creek Capital, offers an incubation period that is longer than the trial stage offered by competitors. During this incubation period, Sparks and his team guide the new companies to help them craft their ideas into actionable business models.
Marc Sparks has accumulated millions of dollars in wealth over the years, but his greatest passion is giving back to the community. He has several organizations that help people gain financial stability and freedom in their lives. To reach the level of success that allows people to give back to their communities, they must be focused on their entrepreneurial goals.
Focus on the Present and Future
Just as time preferences determine individual success, timeline goals also determine the success of a company. To grow revenue over time, entrepreneurs must consider both long-run and short-run goals in their business models. If successful, entrepreneurs will be able to use their company to serve consumer demands as preferences change across time. Many business owners assume that consumer preferences are static, so acknowledging dynamic goals in a business model is a step in the direction of success.
Marc Sparks and other leading business gurus regularly tell aspiring entrepreneurs that they need to be bold. New companies need to test new ideas without fearing defeat. After all, new ideas can capture entire markets by changing the way people shop or use a resource. Consider the example of Amazon. Amazon started as a tiny bookstore, but it grew into an online enterprise that has been dubbed the “Everything Store”. This would not have happened if Jeff Bezos accepted the industry norms.
Entrepreneurs should also accept that many of their ideas may fail. This is a natural aspect of the market process. Loss is a state of mind, so an entrepreneur is not truly defeated until they give up. If you never give up, success remains a possibility.
It is also important to note that many companies fail because they choose the safe route by replicating preexisting products and services. This may yield short-run profits, but replication will not lead to revolutionary success. For true success, entrepreneurs must disrupt the market.
Anyone who can take calculated risks while planning for the future can be a successful entrepreneur. Follow the path of Marc Sparks to attain entrepreneurial brilliance.