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Immigrants And Entrepreneurial Success

[ 0 ] May. 12, 2014 | SBO Editor

Immigrants by Patrick Bet-David

An immigrant shares five important attributes of successful and entrepreneurial immigrants and why we should emulate this work ethic.

By Patrick Bet-David

When someone accomplishes something that seems impossible, we deem it a fluke.  But when many of the same people set out and accomplish the same goal, we call it a trend.  And one unmistakable trend is taking place in business today: a group of people with absolutely nothing – no money, no training and little education – are striking it big.

Immigrants don’t speak the language. They come here without a job or a home and very little money.  What they know about the American culture is from movies.  They are seeking a dream, an opportunity, a second chance, a new beginning and a better life.  And time and again, they succeed.  They are successful under the most extreme circumstances, because after all, it appears at first glance that everything is working against them.  So what are the secrets of immigrants?  It’s their mindset, beliefs and actions that turn them into successful entrepreneurs and business owners, making for great rags-to-riches stories.

More specifically, there are five very important attributes of successful immigrants in business.

No Such Thing as The 4-Hour Workweek

Timothy Ferriss captivated Americans with his bestselling book The 4-Hour Workweek, and most immigrants just laughed.  While the native born mindset is rooted in doing as little as possible just to get by, immigrants regularly work 80+ hour weeks, doing everything in their power to ensure their success in business.  In many of the countries where immigrants come from, long hours on the job is the norm.  The immigrant is not afraid of hard work, and is willing to put in the time it takes to succeed.

It Takes a Village

While most people have a “Me, myself and I” mentality, immigrants believe in working together to achieve a goal.  They pool their financial resources together when traditional funding isn’t an option, work in teams, create world-class partnerships and will give the shirt off their back to help their fellow immigrant succeed.  The other advantage of this work philosophy is that while others scoff at the amount of time invested on the job, it’s often a family affair so it’s quality time that parents spend with their kids, other family members and close acquaintances.

Immigrants Have More Desire

A recent report found that immigrants are more than twice as likely to start a business as those born in America.  The immigrant is not afraid, and indeed more aggressive, in going off on his own to accomplish the American dream.  Many native-born Americans, on the other hand, are so wrapped up in the dreams of the American Idols or the Kardashians that they let pop culture replace their own story and goals. Put down the video games, shut off the TV, stop checking Facebook and start focusing on ways to work harder and build your own dreams.  The first step on the road to success is deciding you want it.  As Napoleon Hill said in his classic book Think and Grow Rich, desire is the starting point of all achievement.

No Excuses

There’s a reason why immigrants can come to America with nothing and become very successful: they don’t make excuses.   The native born, on the other hand, is notorious for making excuses.  “It’s my job, it’s my family, it’s this or that.” Immigrants take the bull by the horns and take responsibility.  One of the promises of America is that anyone can make it big with dedication and hard work. Dreams without hard work are nothing more than fantasies. Economic conditions are perfect for small business and entrepreneurship, but the number one rule is that of no excuses.

Appreciation for The Simple Things

Native-born Americans are known for living beyond their means.  Immigrants know how to stretch the value of a dollar and live modestly within their means.  They don’t get carried away with expensive cars, fancy houses or frequent meals in restaurants.  Many family members live under the same roof and even share a vehicle.  Immigrants also tend to have a lot less debt.  Finding ways to scale back and save a few bucks each day will make a big impact on your overall financial situation.

America truly is the land of opportunity.  The only one standing in your way is you.  It doesn’t matter what your current situation is, future success is possible for everyone.  Whether you’re just starting out, or perhaps you’ve been in the game for some time now and haven’t reached your goals, examine the way immigrants think and do business.  There are some very important lessons to be learned, lessons that might just make you the next big business success.

About the Author

Patrick Bet-David has an intriguing rags-to-riches story of an immigrant from war-torn Iran turned successful entrepreneur. As an author and speaker, he is sharing a unique perspective that answers the question of why so many immigrants are achieving the American dream.  Visit http://www.patrickbetdavid.com

Photo caption: The photo shows Mr. Bet-David at one of his many speaking events.

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Category: Features