The Entrepreneurial Rollercoaster Ride to Success
In my daily reading of all things entrepreneurial, I came across an article in Forbes Business that caught my eye. The article was about the need for entrepreneurs to hunker down for the long term because overnight success can take anywhere from 7 to 10 years. At first, I was highly amused by the oxymoron but after thinking about it a little longer, I decided it wasn’t as amusing as it was sobering.
I am just starting year 3 of my Entrepreneurial Roller Coaster ride which is a feeling that entrepreneurs quickly get used to. One minute you are flying high and the next minute you are at the bottom of the dip. Some days you feel completely detached from the tracks all together. Since launching my business Jennifer Grant International I have learned a lot of things on my own by trial and error. I have also learned from others who are on the same path as I am. Here are some reminder tips if you want to make it to the other side of the entrepreneurial tightrope.
A successful entrepreneur needs to realize at the onset that they don’t know everything and that the market is constantly changing. Unless you stay informed on industry trends, new technology and what your competitors are doing better, you will be missing out on the education you need to make your business a success.
Rewind and Reflect
Allow downtime (every day if you can) to reflect on what goals you have accomplished and what other goals you may be procrastinating on. Don’t let your procrastination list get out of control, otherwise you will be out of control.
Be Confident and Self-Reliant
While there is a lot of help for the entrepreneur, in the end, you need to be resourceful enough to depend on yourself. Figure out what skills you are short on an make it a point to improve yourself in these areas.
Stop Worrying About What Others Think
It is easier said than done but try not to worry about what other people think. This is your life and your business. Breakthroughs and milestones don't happen in other people's minds, they happen in yours.
Have a Recovery Plan
Don’t overlook the need to weather the ups and downs of your start up. A recovery plan will enable you to keep going when the outlook is bleak.
Be Laser Focused
After setting a long-term vision, knowing how to “laser focus” is a key skill in getting to the next step in your long-term vision. Leap-frogging to other steps in the process should be avoided. The more you can look at what is directly in front of you, the better off your plan will go.
Scout Out the Best Talent
When you get to the point of being able to hire some employees, make sure you are making the right selection. Your employees are part of your success strategy and if they are not the right fit, you are sabotaging your strategy. Don't settle for average, go for the best.
Celebrate your Wins
As entrepreneurs, we spend a lot of time obsessing about the future and beating ourselves up when we fail. We have been conditioned to immediately move onto the next goal rather than celebrating our wins. It is important to take a moment to pat yourself on the back.
Being an entrepreneur takes a lot of determination, dedication, optimism and patience. And yes, your great idea could take several years to become a success. Look to others for support and inspiration and contact us if you need a spring board to get you going. One of my favourite quotes: "Whatever the mind can conceive and believe, the mind can achieve." -- Napoleon Hill
Keep going, you can do this!