entrepreneurship hacks

It is a known fact that an entrepreneur doesn’t have it easy. Amidst the kaleidoscope of risk-taking, organising, managing and constantly innovating, it is very common for an entrepreneur to have a mental breakdown. However, an entrepreneur to keep pushing forward and achieving his goal further needs to be a very mentally tough person.

Climbing the corporate ladder and still looking after a team might seem taxing but the fruits achieved out of the hard labour are definitely rewarding.

Here are a few ways in which one can become a mentally strong person:

1. Be happy for others

“Dost first aaye toh bahut dukh hota hai”, stands true for the Indian crowd. It is very easy to envy and rant about co-workers who are doing well for themselves. But, this kind of attitude is just unhealthy and is getting you nowhere. Competition is a reality and to get to the winning spot, you need to work harder than before. The more you hate people, the more negativity you preach.

Also, try and congratulate your peers on their success and learn the tricks of trade from them. Their mistakes could teach you a lot about business.

2. Learn to give feedback to yourself

Don’t wait for validation from others regarding everything in life. If you think an idea is good enough, go ahead with it. Your belief and validation are all that counts. If you think you did well and believe aren’t getting praised enough, don’t feel bad. Instead, buck up and try and make yourself feel better. You are your own critique and use that power to the maximum.

3. Discontentment and whining will get you nowhere

As an entrepreneur, you need to accept that life is never fair and not everything is going to work out in your favour. And, whining about an unfavourable situation isn’t going to get you anywhere. You’ve chosen your life, so why not try and use time more constructively and not whine about things not going your way.

You need to learn to be positive and accept everything that comes your way. The challenge might seem complicated but a fresh and focused approach is bound to do wonders.

4. A calm and composed approach is essential

In the hustle bustle of a busy life, it is very easy to get bogged down with heaps of work and lose your composure. Screaming at employees will just dampen their spirits and cause rifts in the internal situation. A serene approach to important matters is the key to succeeding. If you think things aren’t going your way, take a deep breath and begin again.

If you’re a naturally hot-headed person, try practicing yoga or meditate daily for a composed inner self.

5. Do not forecast results

Mentally strong people never make the mistake of forecasting results as soon as a decision is made. What is even worse is that some people already think of an idea as a failure before thinking of the possibilities of making it work. If you dwell on the idea that it is not going to work, it probably won’t. Instead, if you put in efforts and try to make it work, you might actually succeed.

Hence, predicting negative or unfavourable outcomes is dangerous and partly why your end result is a failure.

6. Money isn’t everything

Earning money is essential for survival but your life shouldn’t revolve around how much earn. As an entrepreneur, you should value the growth and achievements of your company more than the profits you are making. It is easy to earn money but what’s the use if you aren’t getting job satisfaction out of earning that money.

You chose entrepreneurship for freedom and because you love what you do. Once you work with dedication and sincerity, money is bound to pour in. Pump back these profits into your company and watch it grow with pride.

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In the past we’ve come across some great leader all budding entrepreneurs could learn valuable lessons from. Leaders like Mahatma Gandhi were able to mobilise the population of a whole country and made them unite against a common enemy, the British. The movement penetrated down to the peasants who revolted against the British malpractices and in the end, India gained independence.

In the entrepreneurial world, we’ve seen various great leaders such as Bill Gates, Mark Zuckerberg, Binny and Sachin Bansal etc. An entrepreneur needs to be a great leader to motivate his team and make them work as a single entity towards a common goal.

However, not all entrepreneurs are born leaders so here are lessons which will help them emerge as great leaders:

1. Almost all leaders are self taught

There is so course or college which teaches leadership skills. Management teaches the major aspects of leadership but cannot make a leader out of you. Moreover, everyone’s style of leadership is different which is why it’s best if you teach yourself and find your way.

Some leaders are empathetic, while most are a combination of sternness and empathy. You need to find how you want to be perceived and try and learn from leaders who inspire you.

2. Delegation is an art

It delegation might seem like the easiest thing to do but it actually is an art. Delegation doesn’t simply mean handing over tasks to people who are accomplished in their fields. You actually need to find people who you believe are appropriate for the company and hire them. It is a huge responsibility because you trust them with the company’s vision. For instance, if you want an advertiser to make an ad for a product, you are handing him the responsibility of how your product will be perceived by customers.

Thus, it is a huge task and needs to be done well.

3. Keep learning

As a leader, it is also essential to be able to accept criticism and learn constantly because it might be your first time as well. A leader needs to be a good listener because only then can he work out strategies and make his employees feel more empowered and involved in the whole process. An employee in your company might be more experienced and have a brilliant idea and if an entrepreneur lets ego come in his way, he will be losing out on an opportunity of making his company succeed. Hence, it is important to be open to suggestions and be objective about them.

Related post: Things to do to grow your business

4. Don’t be afraid to make mistakes

You’re just starting out so you’re bound to make mistakes. Don’t be afraid to make them because mistakes are our best teachers. We learn valuable and important lessons from them. Also, don’t be afraid to let your team members take risks in terms of the venture because that will help them learn and excel in their respective fields as well.

5. Try servant leadership

While servant leadership is a timeless concept, the phrase “servant leadership” was coined by Robert K. Greenleaf in The Servant as Leader, an essay that he first published in 1970. In that essay, Greenleaf said:

“The servant-leader is servant first… It begins with the natural feeling that one wants to serve, to serve first. Then conscious choice brings one to aspire to lead. That person is sharply different from one who is leader first, perhaps because of the need to assuage an unusual power drive or to acquire material possessions…The leader-first and the servant-first are two extreme types. Between them there are shadings and blends that are part of the infinite variety of human nature.

A servant leader focuses more on the growth aspect of the company and even though he’s more powerful than others, he puts his employees’ well-being above all else.

Related Post: How to get better at leadership?

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Tag: entrepreneurship hacks

6 ways to become a mentally strong person