Success is not owed to anyone you got to get out there, work hard and earn it all. It’s a struggle and many people give up when the going gets tough. Entrepreneurs must learn that their start up isn’t bound for success and should be considered a great opportunity to learn. This is to the ones who are in that tough spot right-now. Here are 6 things all struggling entrepreneurs need to know.
1) It’s a marathon not a race
A business is no small deal and requires great patience. Think big, think long term. No amount of work will be effective enough if you do it all at once and tire yourself out. Don’t put all your eggs in one basket and keep looking for new opportunities. Too many people stress out over their business not growing at a substantial rate and give up thinking that it is too much of a risk to invest so much time into it. The entire game is all about risk and presiding over it.
Eventually you will emerge as an entrepreneur with the remarkable attribute of patience and a business which evolves as you do. Get your sleep and don’t overwork yourself.
2) Accept Failure
Acceptance is the first step towards betterment of the self, the same goes for an entrepreneur. The biggest, most famous businessman has faced failure. Look it up, the list is extensive and the struggle is real. Too many times are those “Rags to Riches” stories read with emphasis on the riches but no focus on the rags. Entrepreneurs must be ready to bear the cost of taking risks and establishing a well developed business. Giving up is not an option for them.
3) Don’t use the excuse that you don’t have time
Prioritizing is just one of the many skills that must be a part of an entrepreneur. We all have the same time in the world and that includes the successful entrepreneurs that you read about. A business that is not producing the results you hoped for often leads the entrepreneur to invest time into other activities that may or may not be earning them money. Once again they must think about the long term prospects and how investing time and energy into their business now will yield success in the near future.
If conditions are extremely tough and you must indulge in other work to survive than you must do that, however, don’t completely sideline your business and manage your time. Remember, the greater your struggle, the more iconic success story you can attribute to yourself.
4) Set Goals
A generic advice to any person in any field but its success cannot be denied. Visualize your success by setting your goals and dreaming about making it big. Planning helps you evaluate your risk and fail factors and if you set goals according to your plans and dreams you will achieve greatness. Write your goals down and start working on them today.
5) Work on your business, not in it
Young entrepreneurs fail to realize that you run your business on the big scale, not its everyday activities. Hiring workers and professionals is a huge part of expanding and improving your business. If you work IN your business who will be working on it? The entrepreneur’s job is to boost the productivity at work place and look at the business as a whole, planning to take it to that next level, make executive decisions which impact all those associated with the business and be the one giving the orders to his employees.
6) Surround yourself with the right people
Your company impacts you more deeply than you imagine. Be around positive, like minded individuals who set goals and are determined for success, especially those who are associated with entrepreneurship. Look for mentors, people you can learn from, who have experienced the hardships and glory of running a business. Look for other entrepreneurs who are struggling as you do, who would rather have their own business than a typical 9 to 5.
Entrepreneurship is not everybody’s cup of tea. It requires the right kind of attitude combined with a sense of financial and social management. Love what you do and turn your business into a journey towards your dreams. Success isn’t guaranteed but the right mindset and commitment can result in a flourishing business.