Often, as entrepreneurs make the bold jump from a company executive to their own business owner, one of the first obstacles they face is not getting an individual or group of people above them to set targets, deadlines, and bonuses anymore. Hence, the need to find inspiration becomes the most challenging task of self-motivation.
This can be a challenge for many, especially when the experience is new and the entrepreneur is consumed not owning it, but working for the business. Any lack of self-discipline and preparation, which are always the first to be placed on the back burner, will often impact professional wellbeing and the family.
So how can an entrepreneur keep their focus on the business while being inspired to become a better person and company owner as well? The response is simple: time, commitment, and preparation are needed — just as you would expect from a company.
Getting motivated and remaining motivated is important, whether you are trying to accomplish a corporate objective, launch a new company or handle the organization’s day-to-day activities. Lack of encouragement will chip off your faith and damage the chance of success.
The more motivated you are, the more forward-looking momentum you will generate, and the easier it will be to tackle ambitious goals and achieve higher levels of business success.
Follow these tips to inspire yourself, crawl out of the slump and make yourself capable of achieving each and every one of your goals.
1. Believe In What You’re Doing, Or No One Else Will
It’s a daunting and exciting experience starting your own business. What takes you through the difficult times, and there’ll be tough times, is a trust in yourself that what you’re doing will be good. If you believe in what you do and your goods, you might be the best salesperson for your new company. However, if a prospective investor meeting with an entrepreneur sees that this person does not seem to believe in his or her product, 100%, why would they invest their hard-earned money?
Believe in yourself, because you may be the only one at the beginning.
2. Being Smart Isn’t Enough, You Need To Be SMART
A source of the falling morale level of an entrepreneur is running 1000 kilometers out of the doors, and so much is happening around them that they get frustrated before they know it. Being creative is great, that’s why a person starts a company first but a bit of structure goes a long way. That is to be SMART.
Being wise is crucial but it is much more crucial to be SMART about your targets, i.e. being specific, measurable, achievable, realistic and time-based. Let’s discuss this further:
Exactly understand what you are trying to do. Be clear about your goals. Why have you been making this sandwich? To relieve your appetite. Why did you plan to enter a particular market? Here’s where the product is ideally positioned to make its mark.
Do actions that contribute to outcomes that are real. Set goals, chart your advancement to see how you’re reaching your mark. And you have an indication of whether you excel or fail. Always keep a track of how your business is performing at all times, especially in the beginning.
Ensure that the goals you set are realistic and achievable. It’s fantastic that you are optimistic but know your strengths, and those of your new company set targets that are also realistic though ambitious.
Being practical is setting a goal at the starting line, with your actual ability and resources known, as opposed to possible, when you’re already at the venue.
Time is money is a cliché that is always used, however no matter how many times is it repeated, its importance remains prominent. Setting targets that are both feasible and practical is all well and good, but how long do you have to meet them? It takes money to start a company, and time and capital are inconvenient acquaintances at best.
3. Plan To Fail And Fail To Plan Again
Your strategic plan is one of the most important documents which will guide the new company. The business strategy is also a declaration of intent, what you want to do, what choices have brought you to this stage, why you think there is a demand on the market, your initial funding and manpower requirements, regulatory structure that needs to be met, estimates of how you expect the company to develop over time, what you offer prospective buyers and partners to draw new customers, among other things
How critical it is to have a business plan, can not be emphasized enough. If your new venture is a new home, so the architectural drawings of your new house are your business strategy.
4. Get A Winning Team & You’ve Won Half The Battle Already
No man is an island and the same goes for an entrepreneur who starts their own company. Certainly, there’s a lot you can do on your own, save vital money in the end, but running a company can be a stressful activity. Being stressed, sore or distracted is a drain on morale so you’ll need to broaden your squad and recruit employees at some point.
Be sure you recruit workers who respect your beliefs, are as inspired as you are to excel, have the right qualifications and are willing to collaborate for each other and for you. The right people will help you stay focused and your company grow.
5. Never Procrastinate
There is an old proverb of procrastination. It sounds amazing at the moment, like not wearing sunscreen, but in the long term, you’re just damaging yourself. Procrastination is the enemy of productivity and performance is a crucial step in inspiring people to continue.
When your company is not going ahead at the rate you thought it should be, it can be very de-motivating to see how the needle hasn’t been pushed as fast as you wished with all your hard work. Any stuff will still be out of sight but one of that stuff is not procrastinating and wasting time. Stay busy, and stay inspired.
If you keep busy and achieve the goals you set for yourself and your business, you will become even more motivated to succeed. Success breeds success.
6. Don’t Try To Attain Success Alone, It Never Works Out
As we have already said, it takes a lot of hard work to run a new company. The company will expect that beyond the physical toll, the emotional impact it will take on a person can be very dramatic.
If you have a rough time getting your company off the ground, make sure you talk to a trusted friend or member of your team. Talking about your struggles, even if sometimes embarrassing, gives others an opportunity to motivate you to keep going. When you talk to someone you admire, they will help keep you motivated through the difficult times. Maybe they will get to share an informative bit of advice that will make all the difference.
Related – 10 Unconventional Things To Do To Become A Successful Entrepreneur
7. Don’t Forget, All Work & No Play Makes Jack A Dull Boy
It takes a lot of time and hard work, let alone money and management skills to start a company. Just remember that it will kill motivation to burn yourself out and keep your concentration so small, particularly if your new company doesn’t thrive as you will in it.
Making sure you diarise for yourself some time out (not to be confused with procrastination) to reset, re-focus and keep your outlook straight. Sleep is important and a healthy diet and exercise are necessary. That being said, you won’t get hurt just by a good cup of coffee or whatever the choice might be.
Upon return, you’ll be inspired to keep pouring the hours into your new company.
8. Be A Leader, Not A Boss
It’s a huge burden to be the boss of your own company and if your business has grown to a certain level and recruited employees, it’s the workforce who will turn to you for direction, inspiration and leadership.
They’ll be influenced by your mood, and most specifically your level of motivation. There are some reasons that inspire workers but why should they be if their boss is not motivated? High levels of optimism promote a better working environment.
It’s important to remember that it is the little things that matter; a small pat on the back or a simple smile can go a great way.
9. SWOT Your Way To Success
A big difficulty in running a new company is understanding whether you excel or lose at some point, which influences your level of motivation. For a certain time, a helpful method that has been used is a SWOT analysis, be it a week, a month or whatever it might be.
An acronym for Strength, Weakness, Opportunities, and Threats (SWOT) is started by using a whiteboard or sheet of paper and drawing a single square into four different parts. Write down the strengths, weaknesses, opportunities and risks to your company, one per column.
It can help set out the positive and poor stuff you’re doing, have a path ahead, and help inspire you to keep moving while you get the full picture of where you’re doing it. Often the best thing is understanding yourself.
10. Punctuality & Professionalism Are The Ultimate Key To Success
Running a company also involves meeting people you probably wouldn’t have known otherwise. It is imperative that you behave appropriately and be on schedule in all circumstances. It’s de-motivating when a customer or prospective partner runs late for a meeting, as it means they do not consider worth the effort to get there on time for your new company.
If these ideas don’t help inspire you effectively, spend some time discovering what keeps you motivated and eager to get the job done. Everyone has a catalyst to drive them into active mode. Finding a trigger can take a little trial and error, but if you take the time to search it is there.
For more tips and tricks on how to be a successful entrepreneur, keep reading The Money Gig.0