5 Fundamental Tips on How to Thrive as an Entrepreneur

Through persistent obstacles, five-time New York Times bestselling author Loral Langemeier has built herself up from scratch to become the CEO and founder of Integrated Wealth Systems—a wealth-building community centered around generating seven-figure wealth, keeping that wealth with tax and entity strategies, and growing it by investing it off Wall Street—and a global leading entrepreneurial speaker.

It all began when Loral started her first company (a health training business) at age 17. She then went on to graduate with her undergraduates in Business Administration and Finance at Wesleyan University of Nebraska, and her graduate in Exercise Physiology from the University of Nebraska.

Following graduation, Chevron Corporation contracted her to teach oil-rig workers off the coast of New Orleans health, fitness, and nutrition. She then partnered with Louisiana State University to build 200+ fitness centers on offshore oil rigs. While continuing her own on-the-side business, Loral continued to build her portfolio with Chevron in San Francisco with a senior-level position, before working as a Master Distributor for Robert Kiyosaki.

After Loral reached a net worth over $1 million, she decided to start a company that provided a catalyst allowing others to reach the same level of success.

In 2002 Loral launched (now) Integrated Wealth Systems, a multinational organization that shares her nurtured and perfected 3 to 5-year strategy to make millions. The company started small in Novato, California, and within 5 years had become a $19-million-dollar global business.

It was at this same time that Loral started her publishing career with multiple paperback books—and in collaboration with her friend and mentor Bob Proctor—developed a series of CDs, videos, and workbooks. And she then went on to become a New York Times bestselling author, five times.

As one of today’s most sought-after multi-million-dollar wealth coaches, Loral shares her best advice on how to succeed and thrive as an entrepreneur in our tough economic climate.

1. Set Achievable Goals

Most business owners are setting goals that aren’t realistically achievable in the present moment, trying to mimic a lifestyle that is more fantasized than practiced.

Set goals that you not only can achieve but win at.

As a business owner starts to achieve meaningful goals, it gives themselves permission to have a high probability to achieve their goals.

A strong will can sometimes cause weakness over time. If you’re trying to break through a wall and keep hitting your head and getting bruised, try a different wall!

But make sure you’re strategic about your goals. She highly recommends jumping on a guided Gap Analysis strategy session with one of her wealth-building experts. This critical conversation will outline how much financial risk you can take on and which path to take to build ultimate wealth for yourself. And the best news? It’s free.

2. Be a Pursuer of Knowledge

If you’re stuck, or have put yourself in a situation you’re trying to overcome, seek out guidance and help.

As a business owner, you’ll always be faced with trends, practices, or skills you’ve yet to experience. Having a mentor or coach you can always ask for help can teach you new ways of thinking or seeing.

If your business is more text-based, try finding someone who can coach you in transcribing your work into a different format like film or digital recording.

3. Self-Modeling

The fastest way to learn is to get close to the person that you want to be like.

Model yourself after someone’s energy, motivation, and drive to develop and create certain tasks. All success comes from a form of self-value modeled after another’s success.

Focused and uninterrupted energy builds the very best support.

4. Be Clear and Responsible

If you’re not willing to lean in and learn, you’re not willing to be responsible for your company.

Have mentors, learn from them, and get crystal clear on what you really want your goals to be, and, what your mission is.

It is your philosophy, your beliefs, that drive the mission statement for your company. And If you lose track of why your business supports this, value declines.

5. Put in the Work

Everyone who is successful has challengers, and challenges, that they must overcome—even the most massively successful people.

If you don’t endure the trials and contenders you’re faced with, then there’s no guarantee of work. No credibility in your accountability.

Your business’s growth depends on your willingness and ability to seize these opportunities.

Be accountable to what is important, and practice simplicity.

Building generational wealth comes down to a system. And having the right strategy in place and the right people on your wealth team is critical in order to achieve the wealth of your dreams.