January 13, 2021 7 min read

Viewpoints expressed by Entrepreneur contributors are their own.

Tony Hawk is a worldwide sports icon and the most popular skateboarder of all time. Back in 1999, Hawk was the very first skateboarder to land the 900, a technique including two-and-a-half midair transformations.

His video game series, Tony Hawk’s Pro Skater, is among the most popular video gaming franchises of all-time, and his Skatepark Job structure has actually provided over $10 million to assist fund numerous skate parks throughout the United States.Hawk talked to me

about skateboarding, household, investing therefore much more. He is overflowing with lessons on how to live a better life. See our conversation in full, below. Hawk’s actions have been condensed and modified for readability.1.

Learn from failure When you fail for the very first time, the full scope of what

you’re trying to accomplish can overwhelm you. Impatience at your lack of development or boredom with the fundamentals typically follows. This foreseeable cycle of failure is why we stopped. Not Hawk. He kept the falls in context, not treating them as a reflection of his capability as an entire but as separated learning experiences to be reviewed and mined for insight, no matter how little.”I was determined, which carried me through all the years. I was not willing to quit; even versus all odds finding out a new, more advanced skate relocation, I would keep trying it. Some of these tricks I have actually developed have actually taken years of practice and stopped working efforts, however that never discouraged me. It deserved it to make it as soon as,” Hawk says.Hawk’s profession timeline highlights this concept: He stepped on a skateboard for the very first time at age 9, turned professional at age 14, and was commonly considered as the very best skateboarder in

the world by age 16. This is how Hawk progressed from beginner to master. His skateboard is now like an anatomical extension of himself.And nothing, not even physical pain or monetary challenge, was going to get in his way. “I wanted to press through and take whatever odd jobs if it suggested that I got to keep skating,” Hawk says.Related: 4 Lessons Matthew McConaughey

Taught Me About Success 2. Stick to your strengths Back in 1992, when Hawk had to do with 24 years old, he began Birdhouse Skateboards. He knew the skateboarding world inside out, and because he wasn’t sure what the monetary future of a skateboarding profession would appear like, the business was a natural method to hedge his threat. In 2011 Hawk launched the FLIGHT Channel, now a leading digital destination for

all things skateboarding. Another natural extension of his brand that made lots of entrepreneurial sense . Image Credit: George Pimentel|Getty Images Throughout the years, Hawk has started numerous ventures like this. Many worked, however some didn’t. When I asked Hawk what advice he ‘d offer his more youthful self, his reaction was immediate and particular:”Do not purchase a denim line if you don’t understand what you’re doing. That’s what I would tell myself since I did that, and it did not go well.”It was just a world I didn’t know. My partner wasn’t an expert in it, and we got in over our heads,”Hawk says.”I would probably have actually purchased the business had I understood that the ideal people lagged it, however my partner and I understood skateboarding. All of a sudden, we discovered ourselves with huge expenses of products and loans we never ever envisioned having to get the item made. I found out a valuable lesson. That I can’t just dive into a service if I do not understand the whole of

it.” The number of business owners form business, then invest time and money into selling something within a world they understand absolutely nothing about? Enthusiasm and exposure aren’t enough. Even if you love cars and trucks, own one and drive it every day does not make you qualified enough to repair them or sell vehicle parts. You need to understand all of it– the market, manufacturing, circulation– whatever

, for you to have the strongest chance of success.Related: 4 Lessons UFC Champion Israel Adesanya Taught Me About Success 3. Plan for the future Hawk remained in the unique position of entering a sport whose future was uncertain.”I didn’t desire be abundant or popular because no one had been,”Hawk says. So when he began to earn six-figure paychecks from skateboarding as a teen, he thought it ‘d never end. That is, till his dad, Frank Hawk, a former military officer and decorated naval aviator in The second world war and the Korean War, taught him an important lesson on preparation for the future.”My father could see that I was making great cash, specifically for my age, and I didn’t have much of a future planned for it. I took it like it was never ever going to end,”Hawk states.”And I think he saw the indications that this may be a flash in the pan which I must invest my money.” When Hawk had saved enough money, his father co-signed on a duplex for Hawk as an investment.”That became a structure of stability for me because I kept making great cash. I bought another home. I got in over my head. Due to the fact that it was budget friendly, I had a home loan and costs that I could no longer pay for and moved back into that very first home that he encouraged me to purchase. It became my savings in a lot of ways.” Related: 4 Lessons Boxing Champ Gervonta Davis Taught Me About Success 4. Keep it basic Planning for the future is vital, however so is risk-taking. If you invest too far out of your comfort zone or make things too complex, you run therisk of losing whatever. Hawk’s approach is straightforward, however don’t be tricked by its simplicity. There’s a reason he has done so well.”When I started to invest, it had to do with what I thought had a good future, that I believed was affecting favorable modification or filling a space, which’s basically it,”Hawk says.”I don’t have a complicated investment

technique. It’s more like, ‘Does this feel right?’That’s how I’ve done it– and I have actually done well.”His video game series with Activision, Tony Hawk’s Pro Skater, is among the most popular computer game franchises of all time. Before the video game struck shop shelves in 1999, he selected a royalty instead of a buyout

offer due to the fact that he believed in the video game. It’s made over$1.4 billion in sales. His foundation, The Skatepark Job, has actually given over$10 million to fund the building and construction and development of more than 600 skate parks across the United States in underserved communities.Hawk is likewise a successful investor.”I likewise have an in sometimes at specific tech companies since I have actually been around the tech world for so long and entered into social media

and future technologies at an early age, and so I’m fortunate that I have a foot in the

door because way.”He was a financier in DocuSign and Ring, which Amazon obtained at an estimated value of $1.2 to$1.8 billion. Hawk just recently bought Public.com, an investing and social-networking website that allows you to follow other financiers, discover brand-new business, and invest with any quantity of cash( see Hawk’s portfolio here).

A complex financial investment technique can work, however for most of us, Hawk’s technique is best.At a fundamental level, the more you buy yourself and your network, the more chances you will bring in. A method like Hawk’s will help you lessen your threat and maximize your benefit capacity by keeping yourself aligned with your core proficiencies and what’s already second nature to you. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.