The entrepreneur’s journey is full of challenging and enlightening lessons. If paid attention to, these lessons can take your business to the next level.There is always something to learn from others entrepreneur journey.One of the best ways to create higher values is to simply think like an entrepreneur. If we can think like an entrepreneur, we can find numerous ways of changing how we manage and create wealth within an organization.
Entrepreneurship without personal development is a disaster
Throughout this past year, I have found myself in moments where I would hyper-focus on the business, lose sight of myself, and then things in my life would crumble. Personal relationships. Health. Emotional well-being. Everything suffered, all because I felt like my business was my child, and I would go whatever distance to see it succeed.
This is unhealthy. And the moments you push too hard, you end up causing more damage than good.
If you lose yourself in the process, your company will suffer.
Let Failure be a Lesson
When people fail, they’ll often quit or try their hands at some other pipe dream, often failing again having not learned from their previous business mistakes.
There have been countless failures in the world of entrepreneurs that have later become massive entrepreneurial successes. Walt Disney was one – as a young man he was fired from a newspaper for not being creative enough, only to then move on to create the most imaginative world of fantasy for young and the young at heart.
Always be Quick and Continue Moving Forward
Once touted the richest man in the world, Bill Gates could’ve happily thrown in the towel after his first few Microsoft successes and still remain mega rich for the rest of his life.
A Harvard dropout, Bill Gates didn’t let his university failure stop him from moving forward along the entrepreneurial road to success. He’d always wanted to follow his dreams of setting up his own software house, which is exactly what he did.
There Is No Magic Potion
What is most humbling to realize is that the people who take their ideas and turn them into amazing businesses do not have super powers. They are not any smarter or richer or better looking than me. They are just normal people who made a few smart moves, worked ridiculously hard, took risks and used passion as their fuel. That’s it. There is no secret formula…which also means that there is no excuse.
Don’t Be Afraid of Transparency
Entrepreneurs tend to have mixed feelings about transparency. Some keep information close to their chests, because they worry that being overly transparent will threaten their trade secrets, expose organizational flaws or send negative branding messages.
Being transparent can be difficult at times, because it forces you to reveal the acets of your business model and personality that you’re least proud of. While expressing humility can be difficult, it’s also a great way to earn customer trust.
One of the best ways to come across as more transparent is to discuss your failures openly.
Focus on Results Over Effort
One of the biggest mistakes that entrepreneurs make is monitoring their progress by the hours they put in on the clock, rather than the milestones they reach. Many fall into the common trap of wasting time doing busywork, just so that they can feel better about themselves. They ultimately feel burnt out and hopeless – which will soon drive them to quit if they don’t make a serious change.
“Stick to what you know” is a strict school of thought in many entrepreneurship circles. By keeping your mind open to new ideas and embracing novelty, you make opportunities for yourself. By exposing yourself to a multitude of businesses and products, your scope expands. Conversely, if you always have your blinders on, your perspective becomes too narrow and you miss out on promising opportunities.
Empower empire builders.
Create an environment where not only you but also everyone on your team can accomplish anything and everything they’ve ever wanted. As struggling entrepreneurs, we’re often insecure and fearful that others will “steal” our clients. Yet, you’ll never attract the best “empire builders” on the planet to work within your organization if you don’t create an environment where they can thrive alongside you. When you start running your company with confidence—in a way that serves your team and clients—you’ll be able to attract top talent and build a true empire that stands the test of time.