Having a successful business is supposed to be the culmination of a lot of hard work and effort by those who have chosen this path.
However, becoming a business builder isn’t all sunshine. There will be days when you feel like you’re ‘dancing along a rainbow’ on your way to untold riches; it is as if nothing can go wrong. But, there will also be gloomy days when thoughts of failure cloud your optimistic outlook. Rather than let those negative thoughts impact you, consider the following five insights which can help your entrepreneurial spirit stay intact
1) Understand your goals aren’t chiselled in stone.
Goals can guide your path as an entrepreneur, but they are not the only method to measure your success against. Goals change as you become more experienced as a business builder and they often only serve as a motivational tool, not the definition of your success. Start looking at goal setting as a learning process and you’ll find it easier to deal with setbacks on your entrepreneurial journey.
2) Not everyone you encounter will be supportive of your ideas or your business mission
You will almost certainly encounter naysayers from people you know, those you don’t, and competitors who seem to thrive on negativity and projecting it onto others. Learn to accept that you won’t be able to convince everyone you are on the right track (including investors), and instead focus your efforts on finding cheerleaders who will champion your growth efforts.
3) Small steps can have a huge impact on your business growth
Taking tiny actions on a daily/weekly basis can help your company growth rate accelerate even during tough economic times. Small actions, like reducing daily expenditures, integrating customer feedback into marketing efforts, focusing on your staff and their needs, and social listening on social networking sites and forums can help your business get through slow sales periods.
4) When it comes to customer feedback, don’t allow negative feedback to define how you feel about your business
Negative feedback can be extremely useful in developing strategic growth plans and can help your business grow in unexpected ways. Learn to welcome feedback regarding your company with an open mind and a ‘growth hacker’s soul’ and you’ll be surprised at how quickly you learn to look forward to both good and bad customer feedback.
5) Remember that the biggest regret you’ll likely have as an entrepreneur is giving up too early
Thoughts of ‘what if’ will haunt you for years to come if you give up too soon on your entrepreneurial dreams. Seek out good mentors and coaches to help you along the journey and be open to the perspectives that others bring to your way, and your company’s way of operating. Yes, you may need to pivot your business or adjust your goals, but those changes are part of the learning process of becoming a strong business builder.
These suggestions, as you may have realised, are not so much about your business, but about the way you think. Your journey will see you occasionally stumble, but any adventure worth enjoying is filled with both highs and lows.
“The opinions expressed by BizWitty Contributors are their own, not those of BizCover and should not be relied upon in place of appropriate professional advice. Please read our full disclaimer."