Harvard researchers have found that first-time entrepreneurs only have an 18% chance of succeeding. By mere observation alone, if you’re one of the brave people stepping out as an entrepreneur, you will face difficulties if you want to succeed. There are things you can do to help your business succeed, but there are also some things that you can focus on to help you personally.
Harvard researchers have found that first-time entrepreneurs only have an 18% chance of succeeding.
Endurance: Very few are overnight successes, and even most of the ones we believe are have really spent a long time being unknown before their career exploded. Our culture is often known as a microwave culture. We’ve been fed lies that if we put forth little effort, we’ll achieve great success. There are lies that tell us that we deserve instant success, but that is a far fetch from reality. If you are really seeking to be successful in something, you have to count the cost. Maybe that means taking another job while building on your dreams in the process. Maybe that means seeking outside advice to make your desires happen. A common phrase where I’m from is, “Cowboy up.” When faced with discouragement, frustration, and obstacles you have the choice of giving in or being determined to, “Cowboy up ,” and stick with it. Adjust your expectations. Success is built on endurance as people withstand the trials that will inevitably come.
Success is built on endurance as people withstand the trials that will inevitably come.
Motivation: Find out what keeps you motivated and make sure to schedule that into your life. It’s all too often that I talk with people who feel burnt out and ready to give up. One question I commonly ask is, “What are you doing to refuel your personal life?” The answer is most typically, “Nothing, I don’t have time for that.” The truth is that we do not have time not to. If we are not investing in ourselves, then we have nothing more to offer tomorrow than we did today. The same patterns will repeat unless we change ourselves. For some, this is daily time reading, meditating, praying, memorizing inspirational quotes, etc… It’s important to make sure that we are filling our minds with motivating words and being able to think upon those things. It changes our perspective, which changes how we live each day and respond to difficulties.
If we are not investing in ourselves, then we have nothing more to offer tomorrow than we did today.
Character: Be sure to maintain your character through the trying times. It’s quite easy to act irresponsibly and poorly when under stress, lack of sleep, and discouragement. Many relationships have ended during stressful times in a business. Instead of seeing the person, we often just see the problem. When we are only seeing a problem, we don’t care about how we treat people and it usually ends in brokenness instead of in solutions. Remaining a person of character when things are difficult allows trust to be built, communication to improve, and positive outcomes to come forth from conflict. It’s terrible for a company to fall apart, but it’s even worse when the company and the people within it fall apart.
Connections: Make sure that you are seeking advice from more experienced people to ensure that you are doing what you need to do in order to grow. Help is everywhere, but knowing where to find good help can be confusing. Start with your inner circle and begin utilizing pairs of outside eyes. Many times people within have a hard time seeing things because they are fully wrapped up in what’s already been happening. People from the outside can look with fresh spectacles and offer great insights. These people can also help point you in some helpful directions. Seek out a mentor in your field. Look for a life coach who has experience and can direct you in taking the next steps. People will always be your greatest asset. Seek them out.
People from the outside can look with fresh spectacles and offer great insights.
Stress-Management: Make sure that you are taking care of yourself. Companies reflect the health of their leadership, so if you’re not doing well, most likely the company will not be either. Finding a balance in life increases your happiness and ability to reason well. This overflows into the way that you lead and manage things at work. It makes no sense for a person to dread going to work and, at the same time, be able expect great things to happen. Those negative thoughts bleed into every area staining all that you do. Find ways to balance your life. Target stressors and if you don’t know how to handle them, seek outside advice on ways to do so.
Purpose: Make it a normal routine to revisit your purpose for the goals you have set. Adjust where you need to, but be reminded of the vision. It’s easy to lose track of where you’re going if you’re not reminded of the end goal. Along with your long-term goal, set short term goals that are achievable. Once those are met, raise the bar a little higher and keep going. Too much time is spent wandering around getting things done that aren’t helping you attain your goal. Cut out the excess and streamline your process to get to where you want to be. Be purposeful in what you’re doing.
Be purposeful in what you’re doing.
Dr. Bobbie Sparks is the Vice President of Product Development and Global Affairs at www.timeandeternity.net. Time & Eternity is a personal, professional, and organizational development company designed to bring out the best in you and your organization. Find us on Twitter @TimeEternity.