Executive Chairman of McDan Group, Dr. Daniel McKorley, has shared insights into what he believes entrepreneurs can adopt for a successful career and journey in business.

In a Facebook post, Dr. McKorley recounted that over the last 25 years, he, like many others in business, have made some big and small mistakes along the way.

He added that these hurdles did not deter him but only made him better.

He therefore outlines five steps young entrepreneurs must take to become a successful entrepreneurial CEO of a start-up company.

See the full post below:

I was recently asked what’s the one piece of advice I’ll give my younger self about starting and running McDan Group. That’s usually a difficult question to answer. It made me think about where I’m now professionally, how I got here, and how I could have gotten here much faster (or with much less pain).

While I have enjoyed great success in my businesses over the last 25 years, clearly I made some big and small mistakes along the way. So, here’s my advice to myself as a young, entrepreneurial CEO of a start-up company, maybe they will help you:

1. 𝙀𝙢𝙗𝙧𝙖𝙘𝙚 𝙁𝙖𝙞𝙡𝙪𝙧𝙚: Let’s start with the most uncomfortable truth: failure is a part of the journey. Yes, you will fail, maybe more than once. But don’t let it deter you. Each failure is a lesson, a stepping stone to success. Understanding what went wrong and learning from it is crucial.

2. 𝘽𝙚𝙖𝙩 𝙩𝙝𝙚 𝙊𝙙𝙙𝙨: There will be moments when people tell you “no.” In those times, be the one who confidently says “yes.” Challenge the norms, push boundaries, and believe in yourself enough to make it happen.

3. 𝙎𝙩𝙖𝙮 𝙋𝙖𝙨𝙨𝙞𝙤𝙣𝙖𝙩𝙚: Running a business is a marathon, not a sprint. There will be long days, sleepless nights, and moments of doubt. But if you’re passionate about what you’re doing, it will fuel your determination and resilience.

4. 𝙋𝙧𝙞𝙤𝙧𝙞𝙩𝙞𝙨𝙚 𝙔𝙤𝙪𝙧 𝙃𝙚𝙖𝙡𝙩𝙝: It’s easy to neglect your health when you’re consumed with your business. But remember, your health is your wealth. Regular exercise, a balanced diet, and adequate sleep are critical for maintaining your energy and focus.

5. 𝙇𝙚𝙖𝙧𝙣 𝙥𝙪𝙗𝙡𝙞𝙘 𝙨𝙥𝙚𝙖𝙠𝙞𝙣𝙜: In all my years, the most successful entrepreneurs I’ve met, with only a few exceptions, have one thing in common - great verbal communication. They can make people believe. You should learn how to speak in public and be in complete command when you talk - no nerves, no blanking, no mumbling. Doing that will not only give your business a bigger purpose but will also help position you as an expert within your industry.