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Leo Olsen Guillot is a young entrepreneur who has already built a 7-figure empire. But the road toward success was anything but easy. According to Leo, “People recognize you only if you make a certain amount of money. But they don’t see the hard work and failures that go into building that success.”

Leo’s journey wasn’t short of disappointments. From repairing broken iPhones when he was 16 to running an unsuccessful fitness platform, Leo has seen it all. But does that define who he is today? No. It’s his growing success that makes him stand out from his peers. But how did the young entrepreneur deal with failures? He spills the beans on succeeding as an entrepreneur.

Not backing away from challenges

Leo is the type of person who never backs away from challenges. When asked about some of his biggest challenges, the hotshot said, “Starting young is in itself a challenge. No one expects big things from you. As a result, no one takes you seriously. Did that bother me? Of course, it did. I’m a human being with emotions like everyone else. But I soon realized that being emotional wouldn’t help. It would put me in a shell. 

And so, instead of succumbing to what people thought about me, I decided to work on my strengths and capabilities. When I started Starteo, I knew I could handle the promotion and sales side. I needed someone who could take responsibility for software development. I teamed up with a software development expert and made him Starteo’s co-founder. The biggest takeaway from this experience? Keeping yourself calm in front of people who don’t consider you as an equal. If you can overcome this challenge, you are halfway through to reaching the success you deserve.”

Building a 7-figure empire

It’s almost unimaginable to run two companies at the age of 21 and make a seven-figure revenue consistently. But Leo managed to achieve this feat by making the most of his opportunities. His formula for success is solving problems that come your way. 

He also adds, “If you want to monetize your capabilities, you need to solve bigger problems. The bigger the problem, the more you earn. If you see billionaires like Bill Gates or Elon Musk, you will notice that they are always ahead of recognizing trends. They are always ahead in terms of making people’s lives easier. It’s that x-factor that makes customers willing to pay some additional amount to make the problems in their lives disappear. If you can hit that target, you can also become the next Elon Musk or Bill Gates.”

The second secret that Leo shares is to convince people that your product or service has a greater perceived value. You need to convince your target audience that they may not need the product now but they will later. Therefore, it’s best to buy now when the price is still low. If you can combine these two techniques, no one can stop you from becoming a millionaire.

Using this time-tested approach, Leo was able to grow Mastermind.com and sell it in 2019. Despite all his achievements, however, Leo says that what matters most to him is being able to impact the lives of fellow entrepreneurs and help them reach their full potential.

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