Rex Barr | Five Must-Follow Rules to Becoming a Successful Entrepreneur

Rex Barr | Five Must-Follow Rules to Becoming a Successful Entrepreneur
6 Min Read

If you want to be a successful entrepreneur, follow these five guidelines explained by famous entrepreneur Rex Barr.

If you're thinking about starting your own business like Rex Barr, you're probably wondering what it takes. There is no such thing as a universal answer that works for everyone.

1. Work smarter, not harder.

Many people perceive an entrepreneur as someone who works 18-hour days and is consumed by his or her business. We often imagine someone who is so motivated to succeed that they spend their entire life working. Of course, perseverance is required to succeed as an entrepreneur; after all, grit is required.

But it's not quite that simple in reality: working every waking minute of the day won't instantly turn you into a great business. This strategy would imply that the entrepreneur is accountable for everything, as in the adage, "Do it yourself if you want it done correctly." That strategy may work on The majority of people, however, are unable to maintain such a strenuous pace for long periods of time.

Overworking leads to exhaustion, which in turn leads to mistakes. Furthermore, how many people can do everything? Most of us are exceptional at a few things. There are many things we are mediocre at, and plenty of things we are simply not excellent at. You must learn to work smarter rather than harder, and this is a mindset that will take some time to adapt to.

2. Hire someone to help you with the tasks you're not excellent at.

It's simple: hire someone to help you with the tasks you're not good at. This allows you to concentrate on the areas of your organization where you add the most value, while your employees concentrate on the areas where they add the most value. It's a win-win situation.

Delegation is critical for successful entrepreneurs (Rex Barr). It's sometimes necessary to become overwhelmed (and fail) before you completely comprehend why it's so critical. The prospect of adding more team members and employees, as well as the cost of doing so, might be intimidating. However, because we live in a virtual economy, you may get the help you need from freelancers and contractors.

3. Get more done for less money.

Although using freelancers and third-party contractors isn't optimal for a well-established firm, it can be quite successful and cost-effective for a start-up. In reality, fundamental supply and demand can make it very economical.

The fact that many freelancers are based in foreign markets adds to this dynamic. The cost of living is reduced; therefore our money goes a long way there. When compared to full-time employees, this method saves money because freelancers are only paid for the work they do.

4. Failure isn't anything to be terrified of (because you will).

To be a successful entrepreneur, you must work intelligently, locate the appropriate people to get the job done and do more with less. They aren't, unfortunately, assurances. You must be realistic in your expectations; not every business will prosper.

Sometimes the premise wasn't quite perfect, or the competition was more difficult than expected. Frequently, entirely unexpected events occur, disrupting your forward motion. You must be willing to fail, but more importantly, you must not be frightened to fail.

5. Wake up with purpose daily, and be relentless.

The most significant component in an entrepreneur's success is that they simply did it. They worked hard every day till they achieved their goal. Even in the face of adversity, they persisted.

When you realize one simple reality, everything around you that you call life was made up by people who were no smarter than you," life can be much broader. According to Rex Barr, you have the power to change it, to influence it, and to create your products that others can utilize. You'll never be the same after learning that."

Successful Entrepreneur Rex Barr

Rex Barr is an innovative entrepreneur who founded a multi-million dollar business with yearly revenues of about $10 million. In just a year, the company grew from a small start-up capital of $3000 to revenue of more than $20 million. Since its inception, the company’s total revenue has quickly risen to 80 million dollars.