Steven Basalari (@stevenbasalari) owns several nightclubs and runs an e-commerce company that can make up to $500,000 in a single month.
Basalari ran businesses since he was a young man, taking over his father’s disco business when he was 20-years-old.
Basalari has some advice for aspiring entrepreneurs who aren’t sure how to begin.
Basalari recommends finding a goal and creating a plan.
“A lot of people get caught up in looking at too many different business models and swap between businesses without ever becoming successful in a single area,” he says.
He believes they need to commit to being successful in one business and recommends taking time to find a business they are passionate about.
Basalari advises newcomers to create a plan. He says the best way to create a plan is to look at the end goal and work backwards.
“It should take a long time to figure out the plan because there are a lot of different ways to get to the end goal,” he says.” However, it’s important to be adaptable within the plan.”
He admits that along the journey there are always going to be problems or situations that arise and dealing with these situations doesn’t have to be stressful. He recommends taking themselves out of the equation and looking at the problem like a game. He says doing this allows the entrepreneur to solve the problem without worrying about all the consequences or outcomes of not being able to solve it.
Next, Basalari recommends revisiting the original vision every day.
“At the beginning of the journey, the entrepreneur should create a goal as well as a vision for how their life is going to look after they accomplish the goal,” he says. “It’s important to look back at that vision every single day to remember why they set out to achieve the goal and why they are working so hard for it.”
Basalari recommends staying well read. He finds value in reading every day to keep the mind sharp, allowing themselves to absorb the perspectives and mindsets of other successful people.
“Entrepreneurs should always look to improve on their current skills and mental models,” he says. “Reading and staying up to date with new trends is a great way to do so.”
In order to become an entrepreneur, Basalari says you have to act and think like a successful entrepreneur.
“What do most successful entrepreneurs have in common? They read and improve their skills as often as they can,” says Basalari.
Finally, Basalari recommends staying in motion at all costs. He explains that some days may be harder than others to get work done or stick to the plan, but it’s important to do something every single day — no matter how small.
“Once an entrepreneur stops taking action for even just a day or two it makes it that much harder to regain momentum,” he says.
Basalari is proud to have made such a big impact globally.
To keep up with Steven Basalari, follow him on Instagram.