Just like being left-handed, or having green eyes, the resilience needed to succeed in the entrepreneurial world is something you are born with. It is a calling that stirs deep within that cannot easily be ignored. People jump in feet first without knowing what to expect and are often surprised at how it can consume your time, thoughts and resources. However, if you can figure out the “secret sauce” all the blood, sweat and tears will be worth it, and the fruits of your labor can be enjoyed.
Here are two startling facts: a little more than 50% of businesses close within the first four years, and 80% of entrepreneurs fund their business out of their own pocket. These two facts alone can be scary for anyone just starting out, or still within the first four years. Starting a business takes energy, passion, commitment, courage and most of all resilience. And even then, there are no promises but there are things that an Entrepreneur can do to help close the gap of juggling and struggling to thriving and surviving.
Successful Entrepreneurs have mastered these 5 skills:
- One Lane Drivers. Successful Entrepreneurs know what they do, who they do it for, and what benefits they bring to their customer. They stay in their lane. It can be tempting to say “YES!” to a potential customer but if it is not in your area of expertise or something you specialize in, saying yes can be more harmful than hurtful. This is a common mistake, especially when one is just starting out but avoiding this pitfall is critical to success.
- Fiercely Protective. Those who are crushing it are fiercely protective of their time. Saying no becomes a skill they are proficient in and make no apologies for. They have developed a system to evaluate requests for their time and know how important it is to balance between personal and professional demands. They do not burn the candle at both ends and understand how productive focused time can be. They stopped justifying busy.
- Purposeful Passion. It is one thing to have passion, it is a whole different thing to have purposeful passion. This is one of the main ingredients to the secret sauce of success. There are many reasons why people start businesses but without purpose things become exponentially harder. Know your “why”. Find your purpose. Share it with people. This is what connects people with a product or service. If you don’t have a purpose, the passion can quickly die, especially when the going gets tough. Purpose will pull you through the darkness.
- Maximize Resources & Outsource. They say it takes a village to raise a child. It also takes a village to create a successful business. It is tempting to try to do it yourself but know your strengths and acknowledge your weaknesses. What you do well, jump in feet first and own it! What you don’t know, find and outsource experts in those field. Don’t try and do it all, it will leave you feeling depleted, overwhelmed and resentful in no time at all. Invest in your business and don’t be afraid to let go of a little control. Spend your time doing what you do best, which will equate to more money in the door.
- Tribe Time. A true Entrepreneur knows the ups and downs, they know just when you are ready to give up a break through happens and your faith will be restored. Until you have lived this life, you can’t fully understand. So, find your tribe. Find a support network. Fellow champions fighting the same fight, to encourage you when you are ready to throw in the towel and who celebrate along with you when you succeed. Find your tribe and love them hard. It’s in this special community that magic happens.
These tips may sound easy, or they may sound impossible depending on what stage you are within your business but each of these are to help ensure that the road to success is a little less bumpy. Don’t give up. You’ve got this.