Entrepreneurship is hard, and you’ll feel like giving up many times. But having a positive mindset, learning from your mistakes, and staying inspired will go a long way towards helping you attain success. According to research, only 25% of new businesses last 15 years or more. Staying focused, having a great business model, and offering a great product or service can help you cross the 15-year mark. 

Billionaires don’t simply wake up one morning and find that their net worth has increased. They have extremely detailed, meticulous plans for success. They also live by strict guidelines. Need a dose of inspiration today? Here are business tips from billionaire founders to inspire and encourage you.

”Your Unhappy Customers Teach You Your Biggest Lessons.” — Bill Gates

Instead of becoming defensive or ignoring customer complaints, see them as an opportunity to learn and grow. Most Americans tell 15 people about their negative experiences with a business. So, if your company receives 5 complaints, 75 other people will hear about the experience. But when customers have their issues resolved within five minutes, they are more likely to become loyal. Turn unhappy customers into profitable ones. Learn what they didn’t like and give them a better experience.

“Don’t Imitate the 10,000 People Already Doing the Same Thing” — Mark Cuban

Don’t give in to the temptation to imitate others in business, it’s a recipe for disaster. Starting a business just because others have and are successful is bad entrepreneurship. Imitative entrepreneurship leads to increased market competition. Other entrepreneurs or businesses may decide to follow suit and offer similar products or services. 

There’s no way to differentiate your business from competitors, and differentiation is what gives your company a competitive advantage in the market. Offer something different—superior quality, better cost, or personalized service.

“You Must Be Willing To Take Risks.”— Jeff Bezos

This is what Jeff Bezos said when he was asked for entrepreneurship advice at Amazon’s Re: Mars conference. And he’s a great example of a risk-taker. Mr. Bezos founded Amazon in 1995 with just 10 employees. The company now has a market capitalization of $1.32 trillion.

Fortune favors the bold. You must always be willing to take risks in business. For example, if you have a great idea for a product but no cash, reach out to venture capitalists, try crowdfunding, or get a loan. If you have a car with positive equity, you can easily get car title loans online. You get quick access to money, even if you have poor credit or no credit history at all. 

“Don't spend your money!— Chris Sacca

Chris Sacca is a tech venture capitalist with a Midas touch. An early backer of Uber, Instagram, Twitter, and Kickstarter, he knows how to spot a gem in the rough. His best advice to young entrepreneurs hoping to build their portfolio is to pinch pennies and focus on the priorities. Sacrificing now means financial freedom later.

Stick to your budget, use accurate financial estimates, and avoid paying more for business services. Overspending can hobble any hopes for success.