Belief #8: Learn From Your First, Earn From Your Second, Give Back With Your Third

The first company of every entrepreneur is most likely to fail since a lot of mistakes will be made, said Patel. This is where the basics of a successful startup is learnt.

“Your first company will obviously be a whole pack of mistakes- one after another. Learn from these mistakes and then apply those lessons to your second.”

The second startup, as according to Patel, is the place where entrepreneurs start making profits.

The third startup obviously will pave the path to a wealthy entrepreneur, said Patel. “Give back your wealth to needy entrepreneurs and never ever expect anything in return.”

Patel also reminded entrepreneurs to help other startups with money and experience. “Just follow the footsteps of your mentors. Do the same as they did with you,” he concluded.

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