David Von Rosen: 10 Rules For Business Success

Seek out ambitious ventures. They often come with a high risk, but entrepreneurs shouldn't be afraid of that. Taking long shots and smart risk-taking is often rewarded by high returns. Sometimes it doesn't work out, but if it works three times out of five, that's fine – and you'll be learning throughout the process. People are naturally risk averse, especially as we get older, but I always try to fight this. And that goes again for my private life too, with my hobbies and sports as much as it does for business. 

Invest in ventures across the globe and don't be restricted by borders. Too many entrepreneurs only explore ventures locally, or in one local region, and miss out on many opportunities where they could apply their knowledge. 

Expertise and entrepreneurial talent is more easily transferred across sectors than most people think. The core aspects and processes of entrepreneurship – creativity, relationship-building, team management – can be applied to any sector, be it real estate, defence, technology or energy. I’ve done everything from higher education to gambling and fashion. It’s a diverse portfolio. The one thing that unites them all – and the one thing that kept me going – was having that hunger to understand new industries and learn new things. Both the downside and the upside is having to start afresh.

To be a successful entrepreneur, you need to inject more than capital. You need to contribute expertise, contacts and manpower. Even if you're a minority investor, get involved and have a say, and contribute to the growth of the business. 

Employees and customers power and grow a business, not systems, the C-suite or logistics. Putting people and employees first is key to the success of any business. In a startup, the first few hires are especially critical to that success. 

It's never enough to simply chase personal success and not give back. Giving back could be donating to philanthropic causes directly, or it could be instilling a culture of giving back in the businesses you start or invest in. This is part of success – it provides a purpose for your work.

Avoid making decisions based on short-term markets. Most of the time, a good business will survive market fluctuations if managed well, so focus on growing and sustaining businesses in the long term. Looking back, I’ve always been impatient, always wanting to grow faster, which in some ways is a good thing. But I would advise you to be less financially driven and more product driven. Focus on how you are going to improve your product and your business in the long term, rather than always chasing profit. 

Do as much as you can in house. This is the best way to stop yourself, or your business, from becoming dependent on outside help. Dependency is not sustainable for a business or an entrepreneur. Especially when starting out, try and become a generalist, whether it's marketing or HR. It helps you grow personally, and it will also help you later on in life because you’ll know what people are talking about and they can’t bullshit you. Also, if you are in the fortunate position where you have a bit of capital, try to execute your plans without external partners. That way, you can make decisions faster and drive your company without having to report to anyone. And, if you mess up, you’re the only one you need to justify your mistakes to.

The best people want to work in the best places, so if you want to attract the best talent, you must prioritise your culture. When everyone is rowing in the same direction, aligned under the same goal, it’s a great feeling. Light a fire under your colleagues.

Go where others aren't. Unexplored markets, niches and trends are where you can most quickly carve out space and establish yourself as the main player in the game. Don’t just take the biggest wave, wait until you find one that fits your own taste and your own situation.