entrepreneurship

10 Motivation strategies for entrepreneurs

We asked around 75 entrepreneurs how they get their motivation back. Here are some of the most popular techniques.

Motivation is elusive. Some days we’re pounding the keyboard, brainstorming ideas, and jabbering on the phone well past dinner; others, we look at the clock only to discover that lunch is still two hours and four minutes away. Especially during the holiday season, it’s hard to stay motivated.

We asked around 75 entrepreneurs how they get their motivation back. Here are some of the most popular techniques.

1. Take a Break

Taking a break is an obvious fix, but effective. It clears your mind and can even increase your creativity: exposing yourself to new ideas can help you be more creative in your own field. And, of course, some people claim to have their best ideas in the shower, or when they’re not actively thinking about work.

In fact, the Pomodoro technique for productivity and time management revolves around breaks, which punctuate 25-minute intervals of focused work. The idea is that your thinking is elevated by short rests. Working nonstop, however, can bog down the brain:

“When I’m not feeling motivated I just stop working. Personally I can’t get anything done well if I’m feeling ‘out of it,’ says Well.io founder and CEO Arin Sarkissian. “I’ll go hang out with friends, play a game, meet up with other founders, etc. Anything but work – sometimes you just need a break.”

One common way to spend that break is exercising. “I go for a run, but everybody has their own tricks. I have a friend that used to do underground fight clubs. He is one of the most talented designers I know, and a complete wacko,” says BJ Fleming, a content specialist at Grubwithus.

You can also take a walk, watch a movie, or plan a mini-vacation. BestBuzz founder and CEO Carrie Layne rents a pontoon boat and reads a book in the middle of a lake, or heads to the casino for some poker. “You most likely work seven days a week, so don’t feel guilty about running off on a Tuesday afternoon,” she says.

And Fundable founder Wil Schroter turns to good old video games:

“I come home, tell my wife how I’m feeling, sit down at my computer, and play video games for three to four days straight without a break. My wife just puts food next to my left hand and leaves me alone until I reset. Is that weird? Yes. But boy it works every time.”

2. Think about Your Customers

One big difference between online businesses and brick-and-mortar stores is the customer interaction, and it affects motivation. While small business owners might see smiles and happy faces all day, entrepreneurs are (more often than not) staring at their computer screens.

But customers and users are so critical to a startup – they are the ones who benefit from what you create, and they keep you in business. So, many entrepreneurs turn their thoughts to their customers to get back their motivation. “When I lack motivation, I go straight to my store locator on my website! I remind myself of how many great companies believe in us and it fuels me to move forward and continue to grow the business!” says Christy Cook, the founder of TeachMy.

If you want something more tangible, take a look at customer reviews and feedback – or create a short survey to gather some. Anita Malik, CEO of BrideRush, even keeps a “kudos board” on the wall that includes reviews from brides and vendors. “It energizes our small team on slow or frustrating days,” she says.

3. Think about Your Team

If you forget why you’re doing this, your co-founders and employees might help remind you. Like your customers, they’re also benefitting from your work: they get exciting jobs and the chance to create something new.

As Julia Hartz, president and cofounder of Eventbrite, says, seeing the enthusiasm of your team can give you a boost. “It’s hard to lose motivation when I go into the office every day and see 200 Britelings. I spend a lot of time focused on supporting our Eventbrite culture, and that serves as a constant source of motivation for me.”

Remember, these are people who have chosen to follow you and your dreams – and if you don’t stay motivated and give it your all, you will be letting them down.

Also read: 65 of the best Time-Management tips that will work for you

“As a leader, motivation is essential because having it or lacking it is infectious,” says Christian Gurney, the CEO of Torsion Mobile. “I think of the team and how I am responsible to them to make each day worthwhile and rewarding.”

4. Get Social

Talking to other entrepreneurs can be reassuring when you’re feeling down. In particular, it helps you realize that the ups and downs of startup life are perfectly normal. “I typically grab a meal or cup of coffee with other entrepreneurs,” says Jacqueline Jensen, cofounder and COO of Ticket Cake. “It’s refreshing to hear I’m not alone in the mountain-and-valley terrain entrepreneurs tackle each day. After some time with the community, I usually discover I’m ready to dive back in.”

For Brent Coker of Webreep, this is one good reason to mentor young entrepreneurs – their bright attitude is infectious and untempered by the harsh realities of failure. “Intense passion is contagious – unfortunately it gets diminished as you get older,” he says.

5. Get organized

If motivation is the drive to accomplish something, obviously we can’t feel motivated to do things we think are impossible. So when work starts to feel impossible, you can lose your motivation. To get it back, get organized and convince yourself that you can do it.

“I make a list. Sounds simplistic, but it works every time,” says Malik of BrideRush. “I usually get unmotivated when I feel overwhelmed, which is nearly daily when running a startup! The simple ritual of making a list in order of priority gets my brain moving again. I feel like I’m on top of it all rather than drowning in the details.”

6. Do something new

A lack of motivation can also come from a feeling of boredom, and shaking up your routine may be just the ticket.

“Entrepreneurism is a drug,” says Craig Negoescu, CEO of NAKA Media. “When things get routine, or safe, or tedious, you begin to slip. So you need to challenge yourself, get out of your comfort zone, and do something new with your business. To paraphrase a most interesting man, ‘Stay risky, my friends.’ The adrenaline of a new challenge will wake you up, energize you, give you a victory or a failure to learn from. And it’s cheaper than coffee!”

Also read: 20 Must watch movies for all Aspiring Entrepreneurs

7. Take responsibility

Many people are drawn to entrepreneurship because of the independence. When motivation wanes, remembering that everything is on your shoulders – your actions will determine the success or failure of your startup – can be a motivator. Deadlines and penalities can motivate, after all, even though they are negative incentives.

“The greatest thing that keeps me motivated and focused as an entrepreneur is that no one is paying the bills for me. Being the one in my company that is responsible for sales, it’s up to me to keep the company growing,” says Brian Bosscher of Condo Control Central.

To light the fire even quicker, take a look at a few of your metrics. “The typical motivation is looking at your fixed cost compared to revenue coming in. That’s the quickest slap in the face for motivation,” says Joel Gross, founder and CEO of Coalition Technologies.

Adds Rohan Hall, founder and CEO of Cool Mojito, “I look at my bank account.”

8. Count your blessings

“On my desk, I keep a picture of the old, drab cubicle I used to report to every day at my corporate job. Whenever I’m feeling unmotivated, I look at that picture and then look around me and see the vibrant and fun workspace I’ve created. It brings a smile to my face every time!” says Dale Burgham, owner of Revo Exotic Wood Guitar Straps.

According to Gallup, only 30 percent of Americans were engaged by their work during the first half of 2012. That means 70 percent of people spent their days bored, unchallenged, uninspired, watching the clock until 5 pm strikes. If you’re an entrepreneur, you’re probably not in that category – so consider yourself lucky.

“When I start to feel unmotivated I think back to my last ‘normal’ job and how much I hated it,” says Tech Cocktail contributor Danny Boice, cofounder and CTO of Speek. “It was a 9-5 corporate hell working for a large bureaucracy where posturing and politics mattered more than actual results. It was absolutely brutal and I really don’t think I could ever go back to a role like that. That’s not living.

“I make it a point to feel gratitude about the fact that I can do what I absolutely love with my life and there are very few people that can say that. It sounds trite but I really do force myself to stop and smell the roses. I know when I look back on this very point in my life it will be right up there with the birth of my kids in terms of happiness.”

9. Rediscover your inspiration

This is really the root. To get motivated, you need to remember why you were ever motivated in the first place: why you’re doing what you’re doing. Maybe you want to change the world, maybe add a little fun, maybe make people happy for 5 minutes per day – whatever.

“I try to go back to the beginning of my project. There was a reason why I started: passion, motivation, determination. I go back to the starting days of my business and rekindle my motivation in my company,” says 19-year-old Jeet Banerjee.

But inspiration can come from other places, too: quotes, the life stories of Steve Jobs or Thomas Jefferson, the Eminem song “Lose Yourself” (as one entrepreneur said), or a movie like Jiro Dreams of Sushi. Or, of course, your family:

“When I feel unmotivated, I close my eyes and think about (a) how hard my immigrant family worked to enable me to pursue my dreams,” says Sparkology founder Alex Furmansky.

10. Suck it up

If all else fails, a few entrepreneurs said, just suck it up. That basically means: tell yourself that being unmotivated isn’t an option. You chose this career, you choose this startup, and you’re the only one who can keep it going.

“Get tough. It’s important to remember that every minute of every day counts and you own your attitude and effort. There is always a solution to the problem. Staying motivated requires tremendous perseverance and creativity, but that’s what separates those who make it and those who don’t,” says David Rush, co-founder and CEO of Evzdrop.

You may also like: Why Following Your Own Dreams Is Not Selfishness

This article was originally published in Tech Co

Image credit: www.youtube.com

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65 of the best time-management tips that will work for you

Most important keys to personal and professional success lies in how you spend your time. Here are the best ways you can manage your time effectively.

Every day, each of us has 24 hours to spend. Some of us make better use of that resource than others. Learning to manage time and spend it wisely is among the most significant things you can do to build personal and professional success.

Here are 65 of the best ways to manage your time:

1. Know yourself.

First and foremost, you have to know who you are. You can’t structure your time effectively if you don’t understand your own dreams, strengths, challenges, and priorities.

2. Create an action.

When you plan to do something, create an action plan and give it all your focus.

3. Construct a system.

Whether it’s electronic or paper-based, centered on tasks or goals or events, something you purchase or develop on your own, find a system that works for you.

4. Focus on your goals.

If you have goals but you tend to get distracted, start by focusing on what you need to achieve and what it will take to make it happen.

5. Understand your patterns.

Maybe you get a burst of energy in the mornings, hit your stride after working out at lunchtime, or think best in the late-night quiet.

6. Structure your time.

Focus your energy on doing your most important activities when you’re most productive. Save routine chores for low-energy times.

7. Do the hard things first.

Difficult tasks require more discipline. If you commit to doing the hardest things first, you will end up doing them with greater consistency. There are tools like eisenhower matrix app that can help you priortize your tasks.

8. Lace it with passion.

Passion will move you beyond your limits and your shortcomings.

9. Create optimal deadlines.

It’s crucial to create deadlines for yourself to help you achieve your goals. Think through what you want to accomplish and make your deadlines challenging but realistic.

10. Overcome procrastination.

Procrastination is the top enemy of achievement, standing in the way of countless worthwhile goals. Get serious about becoming a person who gets things done.

Also read: 7 Sleep Habits of Successful Entrepreneurs

11. Overcome fear.

Fear, is False Evidence Appearing Real. Don’t let what is false keep you from getting things done. Convert it instead to Face Everything And Recover.

12. If it’s important, put it on a schedule.

It’s the best way to keep yourself on track.

13. Prioritize your to-do list.

You can’t do everything, so learn to prioritize the important and let go of the rest.

14. Don’t obsess over unimportant details.

Trying to make sure that every detail is exactly as you want it to be will bog you down.

15. Choose your battles.

You win some, you lose some. Pick what is most important to hold on to and be willing to let go of the rest.

16. Stay motivated.

Learn what keeps you motivated and inspire yourself daily.

17. Maintain momentum.

Learn what it means to stay in motion no matter what comes your way. Momentum is key.

18. Stop worrying.

Don’t waste time worrying about things that may not even happen. Focus instead on what you know and how you are going to be successful.

19. Manage your stress.

Stress management is life management. Whether it’s exercise, meditation, prayer, family time, or social life, find what destresses you and schedule it regularly.

20. Stop multitasking.

If you think you are being efficient by multitasking think again. Focus what you are doing, get it done and move on to the next thing.

21. Initiate a routine.

Routines increase productivity by making it easier to identify shortcuts and efficiencies.

22. Take notes.

Save time by taking good notes, electronically or on paper. Develop a system to flag things you need to remember or act on.

23. Have an accountability partner.

Communicate your schedule and goals with each other and meet regularly to keep each other accountable.

24. Think positively.

Where your attention goes, so goes your emotional energy. Don’t think about what might go wrong, think about what could go right.

25. Delegate tasks.

You may be able to do anything, but no one can do everything.

26. Pay people to do things which would cost you time.

For everything you don’t like to do, there is someone you can hire who will enjoy doing it well.

27. Take breaks.

Being busy doesn’t make you productive. Take a break to reset your energy.

28. Act now.

If you read an e-mail, respond immediately. If you open a letter, act on it or throw it away. If you need to speak to someone pick up the phone. There is great power in now.

29. Time yourself.

If you tend to get distracted or procrastinate, time yourself. Set a timer for 25-minute intervals and commit to work without stopping or distraction in each block.

30. Turn off notifications.

Every notification you get on your computer or phone is an interruption that diverts your attention from your work. They’re almost impossible to ignore, so turn them off.

31. Manage distraction.

Silence everything that distracts you so you can fully focus and be as productive as you can be.

32. Eliminate time wasters.

If there are things that you do that completely waste your time and are not productive, eliminate them.

33. Create an email system.

Use a system when you check your email. Once in the morning, once at lunch time and again in the evening. Being attached to your email and responding to messages all day interferes with your productivity.

34. Limit social media.

Unless you are using social media to grow your business, limit the amount of time you spend on such sites as Facebook and Twitter.

35. Value your time.

When someone asks for a block of your time, be clear on boundaries. Show others that you value your time and they will be more respectful of it.

36. Don’t start projects you don’t plan on finishing.

Don’t start a side project before you’ve learned what’s involved and identified the amount of time that it will take to be successful.

37. Take small steps.

All big things start with taking small steps. Breaking a big project down into smaller steps makes it achievable and easy to accomplish.

38. Plan for the unexpected.

Build some flexible time into your schedule so when the unexpected happens–which it will–you won’t be thrown off.

39. Leverage technology.

Make use of apps that can help you be productive. My recent article on 75 apps for the busy professional is a good place to start your research.

40. Be concise in your communication.

When you make a request, be clear and concise in your communication to make sure you get what.

Also read: 8 Things Entrepreneurial People Do Differently

41. Build proficiency.

Learn how to be more proficient in your daily tasks, because the better you get at them, the less time they’ll take.

42. Back it up.

Make sure all your files are backed up onto external hard drive. Anyone who has learned this lesson the hard way wouldn’t wish it on anyone.

43. Manage your meetings.

Poorly run meetings are time wasters. Show your respect for all parties by managing your meetings in a productive way.

44. Don’t stop everything.

If someone says it’s important, make sure it’s important before you drop what you’re doing.

45. Learn to do less.

Make a point of learning how to work efficiently. Can you learn a new skill? Can you ask someone to help?

46. Find a mentor.

Find someone you can learn from who has done it before so you can waste less time trying to figure it all out.

47. Solve a problem.

Be proactive and address problems while they are small and manageable rather than putting them off to deal with later.

48. Get into a flow.

When you get into a flow state, things get done in less time and the work goes easier.

49. Study best practices.

Learn from what others have done before and learn to do them yourself.

50. Know your limits.

When something is out of your expertise or skill set. find some help to get it done.

51. Stop obsessing over perfection.

Learn to work at your highest level of performance without obsessing and backtracking .

52. Refine the way you make decisions.

Establish a decision making process that allows you to accurately and authentically make good decisions.

53. Avoid putting off decisions.

When you have a decision to make, make it. Otherwise it will take up too much bandwidth in your mind.

54. Don’t keep revisiting the past.

If something didn’t work in the past, don’t keep revisiting it. Learn to move on and forward.

55. Have a nightly ritual.

Get everything ready for the next day by having a nightly ritual.

56. Do things that make you feel good.

Do the things that make you feel good, and you’ll also become more productive.

57. Reward yourself.

When you complete a set of tasks, give yourself a reward.

58. Take time to recharge.

A constant state of stress and overwork slows you down. Make sure you schedule time to refresh and recharge your batteries.

59. Learn to say no.

Saying yes to everyone is saying no to yourself. Know your priorities and your limitations and don’t commit to anything that doesn’t align with them.

60. Take pride in what you do.

Take pride in how far you have come, and have faith in how far you can still go.

61. Manage your energy.

Manage your energy, not your time. No car goes anywhere without fuel.

62. Get enough sleep.

Sleep is the foundational element that ties our health together. When you sleep enough, you have more energy and happiness.

63. Never renegotiate the time you spend with your loved ones.

Family time is off limits.

64. Enjoy your time.

Leave room for fun and play.

65. Become the best manager.

Don’t just learn how to manage your time, learn how to manage your actions, projects, distractions, attention and habits. Because either you manage your time or time will manage you.

Also read: Why Following Your Own Dreams Is Not Selfishness

This article was originally published in Inc.com

Image credit: www.youtube.com

Why following your own dreams is not selfishness

When people try to curb your dream, can you still forge ahead even though you’re called self-centered? Yes, you can and here’s why.

Do you ever dream of giving up your job and doing something worthwhile with your life? Ever think of travelling around the world, either for a few months every year, or for an extended period? Dropping out of the rat race and buying a house high up in the mountains, where you raise chickens and grow potatoes for a living?

Starting your own company, which will make use of new innovation to revolutionize the way business is conducted? Filing for divorce, so that you can put the past behind you and spend what is left of your life in the pursuit of real happiness?

So many people claim they want the best for us. Our parents, siblings, spouses. But try suggesting a bold new venture that might challenge your family’s way of looking at the world, and suddenly you’re being told to reign in your passions, to be more responsible, to listen to reason. So what if you quash your dreams ? So what if your idea could reap large profits after a few years of uncertainty? Stay on the trodden path, we are told. Don’t deviate from what society has established is the ‘correct’ way of doing things. Don’t only think about yourself, don’t be SELFISH.

I’m not going to name all the go-getters who burned the midnight oil so that they could find evidence to support what they knew to be true, even though the collective rationality of society told them that their ideas were baseless. From Edison to Steve Jobs, our lives have been enriched by visionaries who dared to follow their dreams and hold on tightly to their passions even in the face of tremendous odds; what if your dream has the same potential?

Also read: 10 Reasons why Entrepreneurship is awesome

And when people try to curb your dream, can you still forge ahead even though you’re called self-centered? Yes, you can and here’s why:

1. Because ‘selfish’ is a misnomer

It’s not selfishness to trust your own ideas and risk your future on an enduring belief. Maybe what they’re actually calling you is ‘non-conformist’. After all, if you’re a good human being, shouldn’t you stake your happiness on a secure job, a guaranteed salary, and the approval of every great-grand aunt? What, you want to do what your heart tells you?

If you examine their real reasons for wanting to stop you, you might be surprised to find that there is a great deal of selfishness involved–on their part. It’s not always your good they’re looking out for. Often, the family of a dreamer worries about how they will maintain their lifestyle or their place in society if you dare to be different. This isn’t you being selfish, it’s them!

2. Because in the final analysis, only you are responsible for what you make of your life

Make a success of your life and people around you will applaud. Fail miserably and people will criticize, whether you were following their advice of not. If I donate a portion of my earnings to the poor because it makes me feel good about myself, am I not selfish? In fact, selfishness goes hand-in-hand with self-preservation: today, it’s not the survival of the fittest but of the most open-minded. You have two options—to do as the crowd does and struggle for a slice of life, or to bake your own pie and live on your own terms.

Also read: 8 Things Entrepreneurial People Do Differently

3. Because the people who advocate mediocrity are ‘Average Joes’ who haven’t made anything of their own lives

They want you to do things the way they have done them. Who are you to dare to be different, who told you that you can go against your parents and think for yourself? Your elders know best; true knowledge can only be acquired by experience. One sure-fire way to counter these arguments is to find out whether they ever lived out a dream, no matter how mundane. If they have never trusted themselves, how will they ever let you trust yourself?

4. Because your dream promises self-actualization, and possibly, immortality

Your orthodox idea is your baby, your own jealously-guarded secret, an inner voice telling you truths that you cannot ignore. The more unique and unbelievable the dream is, the slimmer are the chances of you finding supporters. But if you believe strongly in your opinions, you have to be willing to defend them and fight for them. It’s not going to be smooth sailing; you’re not going to be voted president. The dream itself has to be rewarding enough to be inherently motivating, even if others consider you crazy.

Dependents consider their own comfort more important than allowing you to follow some far-fetched passion on a path as yet untrodden. From childhood, we are taught that our decisions impact others, so we are encouraged to make decisions based on the common good. And if nothing else, there is always guilt: what if something happens to your loved ones? Well, ask them whether they believe in God or karma…shouldn’t there be some quid-pro-quo that rewards good and punishes evil?

Also read: The 15 Characteristics of Effective Entrepreneurs

This article was originally published in MensXP.com

Image Credit:www.inc.com

7 Sleep habits of successful entrepreneurs

Follow these seven sleep habits and dream your way to business success.

We all know lack of sleep is harmful to our health — sleep affects mood, increases risk of psychiatric disorders and depression, cardiovascular disease and lowers immune system health. Yet the stress of running a company and long working hours means entrepreneurs often find themselves functioning on little sleep.

Evanston, Ill.-based sleep expert Dr. Lisa Shives says getting seven to eight hours of sleep a night is a critical component of entrepreneurs’ business success. “Sleep affects our executive function; the area of the brain responsible for decision making, creative thinking, memory and reaction time,” says Shives.

Follow these seven sleep habits and dream your way to business success:

1. Avoid alcohol before bedtime.

While alcohol may help you fall asleep, it will affect the quality of your slumber. “Sleep is lighter, you have less REM (the deepest stage of sleep),” says Shives. Alcohol can also wake you up in the middle of the night. “Many people wake up after about four hours, because that’s how long it takes to metabolize alcohol, then they have trouble getting back to sleep,” says Shives. Although studies have shown a glass of wine at dinner can have positive effects on cardiovascular health, Shives says to avoid drinking any alcohol within three hours before bedtime.

2. Turn off electronics before bedtime.

Shives recommends shutting off gadgets an hour before bedtime. “The light that’s emitted [from the screens] slips your neurotransmitters into an awake position,” says Shives. Our gadgets also force our brains to stay active when they really need relaxation time to distress before bedtime. Shives recommends using the hour before bed to do something relaxing and enjoyable like reading a book or having a chat with your partner.

3. Write your worries away.

If you find yourself lying in bed stressing about the events of the day, Shives recommends keeping a worry journal to write down the issues that are bothering you. For those who find their heads swimming with to-do-lists, Shives says putting the list on paper rather than thinking about it can help to clear your head and shut off your mind before bedtime.

4. Create the perfect sleep ambiance.

The optimal sleep environment is one that’s cool, dark and quiet. “Part of becoming drowsy in the evening is that your core body temperature starts to drop,” says Shives. Eliminate noise and light distractions by charging smartphones outside the bedroom door to avoid the glow, the ding and the temptation to get up and check on something.

Also read: 12 Ways To Avoid Startup Mistakes

5. Exercise.

Exercise promotes healthy sleep patterns by releasing serotonin and dopamine. These are the same neurotransmitters that are important for regulating our 24-hour sleep-wake cycle, known as the circadian rhythm.

6. Avoid sugary snacks before bedtime.

If you have a hankering for a snack, Shives recommends grabbing a bite containing protein and fat such as yogurt rather than one containing starch or sugar. “[Protein and fat] have very low glycemic levels which means they will give a steady release of energy throughout the night,” says Shives. Simple carbs or sugary snacks give you a quick burst of energy, followed by a crash which can disturb the quality of your sleep.

7. Wake up to the light.

The morning is just as important to your sleep habits as the evening. Getting sunlight when you wake up re-sets your body’s circadian rhythm, helping to ensure you’re more tired at night. Enjoy your morning coffee sitting next to a large window is a great way to start your day right.

Also read: 8 Things Entrepreneurial People Do Differently

This article was originally published in Entrepreneur.com

12 Ways to avoid startup mistakes

Mistakes and entrepreneurship go together. But thankfully, some mistakes can be prevented. Here are some smart ways to avoid stupid mistakes.

If you want to spark a lively discussion among a group of entrepreneurs, all you need to do is make a simple request:

“Tell me about your mistakes.”

Every single entrepreneur has made mistakes, is making mistakes, and will make mistakes.

Mistakes and entrepreneurship go together. But thankfully, some mistakes can be prevented. Here are some smart ways to avoid stupid mistakes.

Get a mentor who’s done it before.

Your most valuable asset isn’t your killer idea or innovative software. Your most valuable asset is a mentor or group of mentors who can tell you what to do or what not to do.

Mentors have a been-there-done-that perspective on startup life that will keep you from making hundreds of mistakes.

Also read: 20 Must watch movies for all Aspiring Entrepreneurs

When possible, use systems, not people, to get tasks done.

Systems are easier to manage than people. It’s easy to make quick-and-foolish hiring decisions. Instead of hiring a person to do a simple task, use SaaS or a tool that can accomplish the same thing.

Raise money with caution.

Many entrepreneurs think that the only way to get a business off the ground is to raise money through traditional startup funding.

Raising money is a full-time job. It takes thick skin and hardheaded persistence. Don’t let this discourage you, but take time to consider whether or not you need funding. If you do need funding, then determine the ideal time to seek funding.

It’s a mistake to rush into funding without counting the cost.

Create a rock-solid business plan.

Your startup will quickly descend into mass chaos unless you have a strong business plan. Your business plan will be like a map, keeping you on course, and protecting your startup from disaster. Give your business plan the time and attention it deserves.

Also read: Five critical questions your Business Plan should answer

Get legal help.

One of the most damaging things that can happen to your startup is to get embroiled in legal battles. I learned the hard way that lawsuits — even if you’re completely innocent — are time-consuming, expensive, and draining.

As early as possible, find expert legal counsel, and pay whatever fees are necessary to keep your business, assets, ideas, and organization in full legal compliance.

Stay away from negativity.

Entrepreneurs must stay away from negative influences. What kind of negative influences? You’ll discover haters who want you to fail and will criticize you. You may even have family members who discourage your ambition and try to slow you down.

You can’t cut everyone out of your life, but you can choose to ignore these negative forces. Sometimes, all it takes is a polite request: “I am pursuing something that is important to me, and I ask you not to make disparaging comments about it. Thank you.”

Test the market, but don’t overtest.

Testing the market is always a good idea. Don’t spend too much time and money on testing your business idea, though. As long as things look safe, take the plunge, launch the business, create the product. Basically, take action.

I’ve watched would-be startups spend tens of thousands of dollars on market research and product viability. Then, in the middle of yet another round of market research, some other startup rushes out a similar product. The slow-and-steady company failed to create fast enough and was beat out of the market by the startup that hustled.

Don’t skimp on the right tools.

You’ll be surprised at the number of things you need to buy when starting a business. I’m not just talking about staplers and sticky notes. I’m talking about systems, servers, email automation, marketing SaaS, subscriptions, software, and other tools.

These can get very expensive. Is this money wasted? Not at all. Purchasing the right analytics or SEO tools, for example, can not only save you thousands of dollars, but can make you thousands of dollars, too.

Don’t buy an office until you’re ready.

Offices are overrated. You probably don’t even need one. With a computer and WiFi, most startups and their teams are in business.

An office space usually requires a lease, a contract, furniture, decorations, etc. You run the risk of spending more time and effort on your office space than is necessary.

Rethink your “need” for an office, and you can save yourself some serious headaches.

Don’t hire expensive people.

If someone is really expensive to hire, it doesn’t mean that they are good. It means that they are expensive. That’s it.

Why would someone be so expensive to hire? One common reason is that they are hedging their bets against the failure of the startup. If they think that the startup might fail, then they will negotiate.

Pivot.

To “pivot” is to make a massive business change in a short amount of time.

How massive? Shifting your market. Changing your product. Reinventing your approach.

Nearly every startup has to pivot if they wish to succeed. Be on the lookout for those critical pivot moments.

Fail fast.

Let’s just face it. Your startup might fail.

And that’s okay. It’s better to fail quickly than for your dream to die a slow and painful death. Fail fast, fail forward, and just get past it.

The best thing that you can do for your entrepreneurial success is to get the failure over with and move on to the next big thing.

Also read: How to Stay Motivated After a Startup Failure

Conclusion

No matter what, you’re going to make mistakes. You can get all the mentoring in the world, read all the articles on Forbes, and study as many startups as you want, but you’re never going to avoid mistakes.

Mistakes are often the best teachers. Instead of trying to avoid mistakes all the time, be eager for risk and ready to learn.

One mistake made is one hundred mistakes prevented, so go ahead and make a few.

What mistakes have you made in your startup?

Also read: 10 Reasons why Entrepreneurship is awesome

Bootstrap Mentality: Key ingredient for startup success

Bootstrap mentality keeps the organization focused on being frugal, innovative and agile. Here are some suggestions on how to maintain a bootstrap mentality while running your organization.

Bootstrap was term coined from the computer lingo ‘booting’ which means starting a computer or starting a chain of processes which eventually starts up the operating system. In the startup world, bootstrapping essentially means funding your own venture and not being too dependent on external sources.

Let’s face it, to have a bootstrapped startup you need grit and total faith and conviction in your product, something a lot of new startup’s find it difficult to conjure. While most startups believe that only funding guarantees success, we beg to differ. Bootstrap mentality is critical for a startup to succeed, irrespective of whether it has raised funds or not. Bootstrap mentality keeps the organization focused on being frugal, innovative and agile. Here are some suggestions on how to maintain a bootstrap mentality while running your organization:

Hiring: Hiring is the key element in any startup and every success story is as good as its team. They say that to make an effective presentation, ask the question ‘Why?’ / ‘So What’ to each slide and if you get a convincing answer, then you are doing good. Ask the same question while hiring someone and if the answer is in lieu with your vision and larger good of the company in a prudent manner, then that’s a good hire. Going on a hiring spree on receiving funding will ensure that you burn before you earn. Last but not the least, if you come across a ‘proven team’, then that’s just a rabbit out of a hat and you can believe us blindly. Proven teams are highly overrated and irrespective of who says what, they may not be right fit for a bootstrapped company. A young team which proves itself is where you should bet your money.

Spend Wisely: Put need first, want later – Most startups on receiving funding go berserk with huge spends on office infrastructure, hiring, system upgrades, software’s and all kinds of fancy things. Some even spend on creating apps and elaborate marketing campaigns. This is the sure shot way of burn out before you start making any money. So, question all expenses and never incur it unless you have found out a way to balance it with the money you make. Remember that it is better to be a successful business than to be a popular sink-ship.

Another pro-tip – Keep everything short – small up-front capital requirement, short sales cycles, short payment terms and recurring revenue cycles.

Barters and Associations: Barters from age-old days have been pivotal to successful business deals and if you could compensate a cost with barter, then nothing beat sit. It is a win-win situation where there is no physical money spent and a mutually benefiting association is formed. These could actually extend your customer base if you use it wisely. Use it abundantly and wherever possible.

Experiment: To be a bootstrapped company, put on your lab clothes, lab goggles, burn gloves and experiment. Don’t be afraid to think out of the box, try different things, get out of the herd mentality. You would burn your fingers, but a few tests and trials and you would shine. Similarly, to the way, we at Vista Rooms went ahead and created our mobile app on Instagram, no need to worry about downloads, or upgrades or coding. We could do it because we experimented, so keep experimenting to see what works for you.

Stretch Your Team: The optimal number of hands between a bootstrapped company and the customer is Zero. They say that God invented e-commerce to sell directly and reap greater margins, use it well. Stretch your team to don different hats be it marketing, operations or sales. The marketing guy can always look at operations when required, or the sales team could help in marketing initiatives. The lesser the number of people between you and the customer the better. This would ensure your team size is optimal.

Product first, sales later: Most startups do the reverse of this. The focus on sales and upscaling is so high that the product never gets a chance for betterment, till the time it becomes an absolute necessity. By then a competitor would have gained ground and whatever product enhancements you do may not save you. Focus on bettering the product and delighting the customer and rest assured your marketing budgets could reduce down. Genuine customers would always go for better products, no matter the cost. More marketing will not always bring you customers, there has to be a constant focus on understanding customer needs and action on feedback.

Funding is never guaranteed: Successful startup ventures follow this as a quote from the Bible. They would focus on being able to sustain without any funding and manage their overheads in a manner that they are able to manage with little or no funding. They have made up their minds that they will not need funding and work towards that goal. Most bootstrapped companies would worry on expanding business or bettering their product, instead of running behind wooing investors.

Red Pill or Blue Pill: Taking a leaflet from Apple’s ex-chief evangelist Guy Kawasaki’s blog, the Red pill or the Blue Pill dilemma sources from Neo’s quandary in the movie The Matrix, where he is given a choice to either accept reality or be in deep dream space. Bootstrappers take the red pill everyday with pride and go deep into the rabbit hole to see how deep it goes.

We encourage you to have a bootstrap mentality, irrespective of whether you have raised a large amount of funding or not. Make your team focused on being frugal and innovative and take the red pill daily.

5 Brilliant ways to stand out in a competitive crowd

What’s different about increasing our competitiveness compared to other skill building activities is that it isn’t another “to do” list item. Instead, sharpening your edge requires a more fundamental change in how you work.

By nature, we all compete. Some more than others, for sure. Yet, what we all share is the challenge of working among dozens (if not hundreds) of other talented, ambitious people with similar skills.

We compete internally with our peers angling for limited leadership positions, externally with similar companies fighting to win the same clients, and within ourselves as we aim to do our best work. Standing out in the crowd is essential to our success. It’s can also help increase your willpower.

Shift to a “can do” mindset.

Empowering yourself requires a deliberate change in how we’ve been trained to think. You can’t ask for permission to make a difference in your work and life. Know that you have all the latitude you need right now. Today.

Ask better questions.

“When do you want this by?” might be important, but the only impression you’re leaving is that you’re a diligent project manager. Critical, of course–but not all you’re going to need to lead. Instead, get used to asking tougher questions. How will this impact our current clients? How does this change our marketing strategy for new clients? Do we have the right resources or training? Do we have enough staff with the right skills? Have we evaluated other options? What are our competitors doing? It helps to research the answers to some of these in advance and be prepared to offer your own thoughts.

Get creative in measuring results.

Many of our business and program impacts are really tough to measure. Sure, sales are up or down is an important indicator, but there are a lot of others. Those with the inquisitiveness to dive into available data or to gather information to help measure something in different, insightful ways are hugely valuable.

Make connections.

Connecting people makes everyone feel good, and it’s perceived to be generous – even though it typically costs more than a few minutes of drafting an e-mail introduction and setting two people you know on their merry way. To do this effectively, you have to actually understand what people you know do and potentially have to offer. I see this insight as the critical advantage highly networked people have over those with smaller or less diverse circles.

Be more of yourself.

It’s often said and I’ll say it again here. Bringing more of yourself to each task is probably the most important differentiator. This means knowing yourself, your viewpoints, strengths, and passions well-enough to let them shape and add color to your work.

Whether you’re aiming for a promotion or trying to win the next big client, increasing your competitiveness requires a change in your mindset. That mindset shift empowers you to start working at the next level immediately as opposed to waiting for someone else to put the pieces in place for you. Making this shift triggers the behaviors, contributions, and ultimately the results that get noticed and make you stand out in the crowd.

This article was originally published in inc.com

Image Credit: www.factorysites.net

How to stay motivated after a startup failure

Here are four things to keep in mind to keep your spirit and motivation up after flop of your startup.

Achieving your goals and dreams is not always easy. This is especially true when it comes to building a business. Building a business is one of the hardest things anyone can do. It takes years of absolute dedication and effort to truly make a business thrive. The whole process of starting a business is physically, emotionally, and financially draining. And oftentimes we invest all that energy just to see the business we built fail. And that happens quite a bit. According to the Wall St. Journal, 3 out of 4 ventured-backed startups fail. And that’s just venture-backed startups. Bootstrapped startups, with no starting capital, have a higher failure rate. It’s a difficult thing to face for startup founders; seeing something you’ve put your blood, sweat, and tears into crumble. So the question for founders of failed startups is—how do you stay motivated keep going after the failure of your startup? Well here are four things to keep in mind to keep your spirit and motivation up after flop of your startup.

Take Comfort in the Fact that Most Startups Fail

Those who start businesses are extremely smart and talented (for the most part). But even with the talent and intelligence, you cannot get away from the nature of startup heartache. As a founder, you should take comfort in the fact that most startups do not succeed. The reasons for a business failing is plenty and many of today’s top entrepreneurs have emerged from previous startup flops. Andrew Mason, the founder of Groupon, actually founded The Point prior to his successful multi-billion dollar coupon site. Never heard of The Point? That’s because it never took off. Bill Gates, prior to founding Microsoft, was also the founder of the now-defunct Traf-O-Data. Sir Philip Green, the billionaire British businessman, went through at least three startup failures before making his first million in his thirties. So as you can see, startup failure is not an exception, it is almost a rule. Failure with your initial startup is almost a rite of passage for startup success. So take comfort in that fact. Take comfort knowing that even the brightest and richest have failed. Knowing that will give you the motivation to move on and try again. Because, as the famous Albert Einstein would say, “you never fail until you stop trying.”

Also read: 10 Reasons why Entrepreneurship is awesome

Have your End Goal in Mind

I’m sure one of your biggest goals was to make your startup a smashing success. But I want you to think bigger. Reach down deep to think about your ultimate goal. What is the purpose of starting your business? Why did you want to build a successful startup? Was it to provide a valuable product to society? Was it to support your dream lifestyle? Was it to give your family and loved ones the life they have always wanted? The startup isn’t the goal itself; it is a means to getting to the goal. So if one startup doesn’t work out, there are plenty of other opportunities for you to succeed and achieve your goals. Looking at the big picture and having the end goal in mind is an important element to keeping your motivation after startup failure. Without seeing the big picture and the end goal, you will be knocked down by every little mishap.

Also read: 8 Things Entrepreneurial People Do Differently

Giving Up is for the Weak

Being a business owner is a whirlwind adventure. You will feel the ultimate highs and the ultimate lows. It takes emotional resilience and grit to be able to be a successful business owner. And if you are planning on giving up after failing a few times, then you are not meant to be a business owner. So if you want to build a successful business, you have to be willing shrug off the lows. You have to be resilient and keep going. Otherwise, startup life is not for you. Essentially, giving up just means you don’t want it bad enough. And when you don’t want it bad enough, you will not survive in the competitive culture of business. You have to want to succeed enough to want to pick yourself up after momentous failure and embarrassment. Just like the hip hop preacher Eric Thomas said, “When you want to be successful as much as you want to breathe, then you’ll be successful.” So do you want success as bad as you want to breathe?

Experience is the Best Teacher

Your startup’s demise is temporal and momentary. It does not define your whole life and it does not mean you are a failure. Rather you should take the experience learned from the failure of your startup to do better the next time around. You can read as many books as you want or go to a thousand seminars; nothing can teach you as much about business and life as experience itself. Learning from the school of hard knocks and low blows is the ultimate vehicle of learning. So let the failure of your startup be your teacher and learn from the mistakes made during your failed startup to do better the next time around. And remember, many entrepreneurs failed at multiple businesses before finding a successful and thriving business. So take that experience and make something useful out of it. Let that experience motivate you to do better the next time. And trust me, you will.

Putting Everything in Perspective

It hurts to see something you invested so much time, money, and energy into just crumble. It hurts a lot. Because you have so much invested, it can hurt much more than losing a job or even losing a house. But in the end, you need to put everything in perspective and take a look at the bigger picture. Looking at the bigger picture and putting everything in perspective means that the chance of you succeeding with your first couple of startups is small. And just because your first startup flopped does not mean that you have failed. If you are smart enough, tenacious enough, and gritty enough, you will eventually build a successful business. You just need to keep motivated and keep going. You only fail if you stop trying.

Conclusion

Instead of being disappointed that your startup has failed, and start writing a new resume so you can get a job, think twice and learn from failure. Starting a business is not always easy, and it requires patience and a lot of experience.

Also read: The 15 Characteristics of Effective Entrepreneurs

This article was originally published in under30ceo.com

Image Credit: www.entrepreneur.com

The 10 characteristics of effective entrepreneurs

There is no one right way to be an entrepreneur. Business leaders come from all sorts of backgrounds and have varying areas of expertise. You might be an entrepreneur if you have some of these personality traits.

There is no one right way to be an entrepreneur. Business leaders come from all sorts of backgrounds and have varying areas of expertise.

You might be an entrepreneur if you have some of these personality traits:

1. You think on your feet.

While you have a facility for planning and organization, you aren’t afraid to throw out the outline and go in a different direction.

2. You doubt yourself.

If you feel insecure, you know that it doesn’t mean you will fail. Instead, you channel that nervous energy. You can find that you have a renewed focus for the task at hand.

3. You are inventive.

Even if you don’t have the resources you think you need, you’re able to take a step back and use what’s at your disposal.

4. You have a mind for money.

Ah, yes, revenue. You are endlessly intent on making sure your venture is profitable.

5. You don’t fear controversy.

Being successful often means disrupting the status quo.

6. You take risks.

And you see the risks you take as fruitful possibilities and opportunities to grow.

7. You are active.

Constantly hustling and one the move, you understand that it is your drive that powers your company and energizes your employees.

8. You are open to change.

You know that your company will only triumph if you evolve and change as the customer and market demands.

9. You can sell yourself.

Promoting your vision is like second nature to you. Meanwhile, you often look inward to improve your performance.

10. You rise to the occasion.

When things get tough, you feel motivated and get into gear.

For five more signs you are an entrepreneur, check out the video above.

This article was originally published in Entrepreneur.com

Image credit: myventure.in

Five keys that every investor looks for in a start-up

Here are a handful of the things that most investors look for in promising startups. Which do you find most valuable, and which do you believe are irrelevant?

As an entrepreneur who’s looking to attract funding, it’s imperative that you understand what investors are looking for in start-ups. By getting a clear idea of what investors want to see, you can better frame your pitches, and guide your conversations to encourage positive outcomes.

The Importance of a Formula

Ask any investor what they look for in start-ups with high growth potential, and they’ll begin to rattle off a list of trademarks that they search for and red flags that they avoid. While they may not refer to their process as a formula, that’s essentially what it is. If you want to be a successful start-up investor, you must follow a formula. That’s the only way to keep your emotions in check, and make sound decisions that are likely to deliver high returns.

There’s no such thing as a perfect formula–and most undergo frequent changes and tweaks–but having a process will help you to identify profitable opportunities that others might miss.

Investing in an unproven business is a lot like betting on a sports team to win. You can study the trends, and look at historical data points, but you’re always taking some kind of a risk. If you want to learn about investing analytics, study sports handicappers.

As an investor, the takeaway is simple: don’t listen to what everyone else tells you. Do your own research, develop your own formula, and put your money where you believe it’ll deliver the highest return. Your investing formula is the only thing that matters.

Five Keys That Investors Look For

With that said, you need to identify important keys, and give appropriate weight to the different factors that you deem valuable. In no particular order, here are a handful of the things that most investors look for in promising start-ups. Which do you find most valuable, and which do you believe are irrelevant?

Strength of the Founding Team

There are certain elements of a start-up that can be fixed and others that are unchangeable. The makeup of the founding team falls under the latter category. You can’t force change upon a startup’s founder. They either have what it takes to be successful, or they don’t. An entrepreneur may have all of the knowledge necessary to launch a venture, but do they have the passion to navigate through difficult seasons? A founding team may be capable of creating colorful presentations and well-worded briefs, but do they really understand what’s happening at a foundational level?

As an investor, one of the first things you need to consider is the founding team. Look at their history, ability to lead, incentive to succeed, and overall versatility. If you don’t feel good about the founding team, you can’t be confident in the future of the business.

Clear and Unsolved Pain Point

The next thing that investors turn their attention to is the pain point. Any time you’re studying a new start-up, ask yourself three questions in regards to the value offering:

Does the product solve a palpable pain point in the marketplace?
Is that pain point widespread and relevant?
Are there currently any other solutions?

If you can answer “yes” to the first two questions and “no” to the last one, then there’s a clear, unsolved pain point. This is promising, but it doesn’t mean that you’ve found a start-up worthy of an investment. You’ll now need to turn your attention to the actual product.

Sales Momentum and Sample Data

Investors want to be sure that a start-up will be successful before investing money in the venture. One of the best ways to do this is by studying past performance. While past performance isn’t always indicative of future success, it’s generally a good indicator.

You can look at any number of metrics to determine success, but analyzing sales momentum in the form of data is the most objective method of studying success. If the start-up has been in business for any amount of time, they should be able to supply you with this data.

Long Term Business Model

A start-up can have the right people, a palpable pain point, and some sales momentum, but you’re investing in its future growth. What happened in the past does very little to deliver a return on your end. That’s why you need to study the start-up’s business model, and consider its feasibility.

Does the business have the right structure? Is the business plan accounting for future competition? What are the three, five, and ten-year goals? If you want to feel confident in the long term growth of the business, you need answers to questions like these.

Fair Valuation

As angel investor Basil Peter points out, “Over-valuation is one of the most common structural problems angel investors encounter.” If you over-value a start-up when you present an investment, you’ll find yourself swimming upstream for years to come. The negative repercussions of over-valuing are hard to overcome.

While a founding team obviously wants to attract as much capital as possible without giving up more equity than they feel comfortable forking over, the reality is that the investor often does the entrepreneur a favor by correcting the valuation. They may not like the fact that they’re getting less capital on the front end, but it’ll save a lot of headaches down the road. With that being said, make sure that you only invest when the valuation is fair for all parties.

This article was originally published in Inc.com

Image Credit: http://www.businessinsider.com

10 Things entrepreneurs must avoid while starting their ventures in India

With the launch of ‘Start Up India, Stand Up India’ initiative this weekend, many would-be entrepreneurs who were earlier waiting in the wings will be more willing to take the entrepreneurial leap and start their own ventures.

But even the most experienced professionals will agree that entrepreneurship is a tricky choice to make. On one hand there are so many things that you have to do to achieve success and growth, while on the other there is an equally lengthy list of things that you absolutely must NOT do at any cost if you want your venture to survive.

So, in a bid to empower the budding entrepreneurs with the knowledge to make the most informed and viable business decisions, here are a few things that you should avoid like a plague if you want your venture to succeed in India.

1. Half-prepared entry

This is one of the most elementary mistakes a first-time entrepreneur can make, and yet it is one of the most easily avoidable ones. Often, while starting their ventures, entrepreneurs can be swayed by their own vision so much that they fail to factor in several key requirements to make their vision a reality.

Do you have enough employees to support your business? A viable revenue model? Do you know who your competitors are in the market? Any future strategies that will help you evolve past the initial stage? All these things need to be addressed before taking the plunge into entrepreneurship.

2. Ignore the value of analytics and research

Another easily avoidable mistake that most entrepreneurs starting their own businesses make is discounting the pivotal role data analytics and market research can make to your business.

Data analytic tools have improved to such a great extent today that they can often identify and predict consumer behavioural patterns and market trends well before they even occur. Leveraging them could give your business a big boost by identifying the strategic opportunities for your venture.

Moreover, a market research can also help you in identifying the target demographic for your product or service, which will make it easier for you to decide on the optimal brand positioning.

3. Modelling your business on short-term trends

Jumping on board a particularly popular bandwagon is a needless pit that entrepreneurs often end up jumping into. Needless to say, most of these startups often fail to survive beyond the initial few years.

In a digital age where people have the attention span of a goldfish, what is popular today may not be popular tomorrow. Therefore, if you are in for the long haul, always devise your products to address market gaps instead of trends.

4. Make more than just another job

Most entrepreneurs start their ventures to ‘work for themselves’ and escape the tedium of their professions. This sort of approach can hamper the growth of a start-up. Entrepreneurs must always look to evolve their businesses beyond just another ‘job’ that they do and continuously work on expanding their business.

5. Focusing too much on the idea and not enough on the team

A great business has a great idea at its core, but at the same time it also has a great team working hard to make that idea a success.While the idea that you come up with might be very good in itself, you also need to hire individuals that can support your venture’s long term vision.

6. Square pegs in round holes

This covers everything from hiring to incorrect business decisions. As a first-time entrepreneur you will require individuals who work as an employee as well as independent freelance contractors for one-off tasks.Both have their own sets of benefits and drawbacks; a contractor getting paid on a pro-rata basis might fail to meet deadlines, while having an employee is a full-time drain on your resources. The difference lies in identifying what to choose as the best-fit for your venture.

Most entrepreneurs also end up taking on multiple responsibilities to cut down operational costs. This practice should be avoided, as it leaves you with no time to build your business. Moreover, follow the tenet of ‘you get what you pay for’. Do not compromise on the quality of your service to save a few pennies.

7. Over emphasis on a certain business function

A successful business is a seamless confluence of several vital functions – sales, administration, marketing, finance and operations.End up concentrating on only one area of your business and you end up neglecting the others. This can be detrimental to a budding start-up.

8. Focusing on short-term gains

Many entrepreneurs often lose sight of the bigger picture in order to secure short-term gains. The effort, instead, should be on building lasting professional relationships with clients in order to ensure repeatable business. Will taking a cut in fees ensure the client will be associated with your venture for the long haul? Do it.

9. Inflexible business model

One of the most frequent mistakes that first-time entrepreneurs make is getting too attached to their idea. It sounded good when you told your colleagues about it and it looked good on the drawing board. However, always create an agile business model that will help your start-up survive the rough and tumble of the real market.

10. Ignoring the importance of contracts and legal framework

Never, ever, ever get into any arrangement without defining the contract. You and your clients mutually decide and agree upon certain terms and conditions when entering into a business deal; a contract is a documented proof of that agreement.

It often becomes your saving grace when the client expectations start to strain your budget more than your initial operational outlay. The benefits of a legal advisory, whether associated full-time with the start-up or on a consultation basis, cannot be stressed enough in these cases. Always ensure that you cover your legal bases in all your business dealings with clients or auxiliary service providers.

Image Credit: www.huffingtonpost.com

22 Secrets to discovering your dream and living it

One of the most important rules of happiness in life is to do what you love. But discovering that dream job and what you are meant to do in life isn’t always so easy.

Take a look at the happiest, most successful people on this planet: they are all doing something they love, creating something they believe in, living a life of purpose and passion. Do that, and it doesn’t matter how much money you make.

But what do you do if you don’t know what you want to do? If you don’t know what your dream is? This is a common problem, and many people wander through much of their life without discovering their passion, and go from job to job, unfulfilled and miserable.

If that’s you, don’t give up.

What follows is a list of suggestions that will help you discover your dream, and start on the road to living that dream. They’re things that have worked for me and many others I’ve studied, talked to, interviewed and admired.

While you don’t need to do every step below, they are all ways for your to spend time thinking about your passion in life, your dreams, and how to accomplish them. If you spend time thinking about your dreams, you are taking the first step towards making them a reality.

The first step is to give this stuff some thought.

1. What are your hobbies?

This doesn’t just mean stamp collecting — it means anything you do with your spare time. That could be collecting comic books, reading about history, programming Linux utilities, writing on your blog, writing poetry, cooking, whatever. As it’s clear that this is how you like to spend your time, and that you’re willing to do these things without pay, it’s very possible that these are your passions. Give each of your hobbies some thought, and think about whether they’re things you love to do, and that you’d love to do for a living.

2. What are your talents?

It’s been said that we each have at least one gift we’ve been given, and that the true purpose of our lives is discovering that gift, and sharing it with the world. There is much truth in that statement, and an important part of this process is discovering your gift. What are you good at? What talents do you have? What have you shown an aptitude for in your current and previous jobs, in school, in your personal life? Anything goes here.

3. Who do you like to work with?

A dream job includes not only what you want to do, but who you are doing it with. You should truly enjoy working with these people. In this step, you can name specific people you love working with, or types of people (creative types, programmers, entrepreneurs, blue collar, etc.). Use your ideas here to help you envision your dream job (more on that below).

4. What do you like to work with?

The tools of the job are very important. If you love working with computers (even a specific type of computer), that’s a clue to your dream job. If you love working with clay, or paper, or people, or clothes, that’s a clue. If you like working with a hammer, or a piano, you’re off to a great start in discovering your dream.

5. What environment do you enjoy working in?

An office, a college, a classroom, a construction site, the ocean, the forest? Where you work is also an important factor in your dream job.

6. When have you been happiest?

Think back throughout all the previous times of your life, from childhood through adolescence, school, different jobs, different areas, different hobbies. Think about the happiest times of your life, and what you were doing, who you were doing it with, and where you were doing it. You may have dismissed some of these things for various reasons, but remembering that you were extremely happy during those times can make you realize why you were happy.

7. Try online tools

There are some great tools online for helping you find your purpose.

8. List your top 5 passions

Now that you’ve given various factors some thought, and tried some online tools, make a short list of your top 5 passions. If you don’t have 5, list as many as you have. Then compare your top 5 passions, and rank them from top to bottom. This will be the starting point your guide to making your dream a reality.

9. How can you turn your passions into your work?

Of the top 2-3 passions on your short list, can any of them be turned into your life’s work? What professions use those passions as a mainstay of their work? How would you get into those professions, and do you think you would love what you do if you did them?

10. Create a clear vision

Clarity of vision is the key to achieving your dream once you’ve discovered it. Take some time to think about exactly what your dream is, what your dream job would be, how you see yourself doing it, where you are, what you’re surrounded by, who you’re working with, what tools you’re using, the benefits to you and others. Write it down, and try to make it as clear as possible. You should be able to visualize this dream in your head. The more real it seems in your mind, the more likely it is that it will become reality.

11. Create a roadmap

Once you’ve clearly pictured your destination, what’s left is creating a map for getting to that destination. Try backwards planning: what’s the last step you’d have to do before attaining your goal? What would the last step be before that step? Keep going backwards until you get to the first step. Then focus all your efforts on that first step.

12. Brainstorm

Sometimes there are more than one road to get to a destination. Brainstorm a bunch of ideas for getting there, a bunch of actions you can take to move yourself closer to your destination. Then put them together into your roadmap. Even if you don’t have a complete roadmap, having a clearly defined destination, and taking the first step, are enough to get you started.

13. Do research

Learn as much as you can about your dream. Check out some books from the library, do some web surfing, talk to others who are knowledgeable. Become an expert on the topic.

14. How are others doing it?

Find others who are living your dream. Read about them, write to them, meet with them. Find out what steps they took to get there, what’s required, how they did it. Then use that information for your roadmap.

15. Practice, practice

While you’re taking your steps to realizing your dream, practice your passion as much as possible. Practice, of course, makes perfect … and you want to be as good at what you want to do as humanly possible. This isn’t an easy step, but it’s worth it.

16. Get inspired

Find others who are trying to achieve the same dream, see what obstacles they’ve face and how they’ve overcome them. Put up photos from magazines to inspire you. Read motivational quotes. If you’re inspired, you will have the energy needed to get there.

17. Get motivated

Along those lines, find motivation to keep you on your path. Motivation and focus are the keys to achieving any goal. What are your motivations? Making a public commitment, setting up rewards, inspiring yourself, tracking your progress, and joining a support group or finding a partner are great ways to motivate yourself.

18. Simplify: one purpose

Once you’ve defined your dream, focus on it completely. That means you need to put any other goals on the back burner for now, and have only one purpose in your life. Later, you can focus on other goals, but if you have multiple goals, you will become distracted and lose purpose. Focus. Simplify your life so that you are keeping your focus on that one thing.

19. Use a mantra

A great way to keep yourself focused is to use Guy Kawasaki’s idea of creating a mantra instead of a mission statement. Boil your goal down to a few words. Guys’ mantra: empower entrepreneurs. What’s yours? Once you’ve defined your mantra, print it out, post it up, and say it several times a day.

20. Set aside time each day

You will not go anywhere if you don’t devote time to your dream. Set aside an hour (or at least 30 minutes) each day for working towards your dream. If you can do more, great, but one step at a time is all it takes. Set aside time either in the morning, or in the evening, or some time when you know you will do it every day. Make it a habit, and you will succeed.

21. Pretend you can’t fail

Imagine that you cannot fail, that you may slip up and fall, but that you will get up and learn from that fall. Take away all fear of risk and loss, and believe in your success. Now act as if you cannot fail. And by acting so, you will make it happen.

22. Live as you want to be remembered

How do you want to be remembered when you die? This is a common method for deciding how to live your life. If you want to remembered for realizing your dream, then don’t start on it when it’s too late. Start on it now. Live your life so that your dream actually comes true.

This article was originally published in Dumblittleman.com

Image Credit: http://www.prevention.com/

5 Lessons entrepreneurs can learn from football coaches

If you want to make yourself a better entrepreneur, look how some of football’s greatest coaches have led their teams to victory, and apply those lessons to your own startup.

One of the most important roles of an entrepreneur tends to get buried among all the others – the role of coach. Yes, entrepreneurs are leaders, decision makers and idea generators. All those roles are important, but without a well-assembled, motivated team to carry out your orders, all those awesome ideas falter.

Just like a football coach’s own direction and motivation can win or lose a game, an entrepreneur can make a startup succeed or fail. If you want to make yourself a better entrepreneur, look how some of football’s greatest coaches have led their teams to victory, and apply those lessons to your own startup:

1. You have to understand the competition.

Football and entrepreneurship are both competitive ventures. Successful coaches know that beating the competition is about more than just being as good as you can. You have to understand the psychology and makeup of the competition. If they have a weak defense, you need to take advantage of it. If they rely on one key player to win, you have to stop that player.

Key opportunities like these are critical in deciding the outcome of games, and the burden of effort lies with coaches to hunt them down. In the entrepreneurship world, competition is equally intimidating. It’s not enough to lead your company by “being really good.” You have to understand what drives your competitors, why people continue to buy from them and learn key weaknesses that your brand can use as differentiating factors. Without that understanding, you might end up with a good product but the “other team” will always have an edge.

2. Good players don’t automatically make a team.

The power of teamwork can’t be understated. Good coaches know that building a good team takes more than just finding good players. It’s better to have 11 decent players that work well together than 11 outstanding players who have no synergy.

Successful coaches like Joe Paterno worked to build this team bond by making the team do everything together, from practicing to cleaning the stadium. As an entrepreneur, you’ll need to keep this in mind as well. Don’t hire talented team members only because they’re talented, or you’ll wind up with a group of indifferent and selfish, yet skilled, workers who can never quite get on the same page. Create a culture before making hires. Always work to integrate new members into the welcoming whole of the team. Better teamwork means better communication, more positive environments and more efficient work.

3. Emotion and motivation go hand in hand.

In football and in a business, if you want a team to work hard and strive for success, you need to inspire them. You need to build confidence, invest in a team mentality, and help them find passion in their work. Emotion is at the root of motivation, and as an entrepreneur, you’ll be faced with a similar role. Get your team members to truly believe in your brand, enjoy their work, and take pride in your group accomplishments, and nothing will be able to slow them down.

4. Incremental and long-term goals are necessary for success.

A coach can make a long-term goal to improve offensive performance in the second half, and build up to that with short-term goals like doing extra drills every day to build up endurance. Every coach, even those completely new to the game, succeeds or fails because of their short-term and long-term goals.

As an entrepreneur, you’ll have to make long-term and short-term goals for your business. Where do you want to be in five years? How are you going to get there? What goals can you accomplish right now to get you moving in that direction? If you can establish these goals, and get your entire team is on board with them, you’ll have no issue making steady progress to your eventual destination.

5. Setbacks are inevitable but usually temporary.

When a football team loses a game, they don’t immediately give up, never to play football again. Good coaches will use the loss as motivation to try even harder next time. They know setbacks are unavoidable, but almost every setback is temporary. There will always be another game, and another opportunity to succeed.

Successful entrepreneurs are equally patient. When a competitor outbids them, they don’t sweat it. They just move on to the next opportunity. When they miss a deadline, they focus on what they can do now instead of dwelling on the past. Patience is key to overcoming those hurdles.

A coach’s responsibility don’t end with creating the plays, setting the goals or making all the decisions. He’s also responsible for bringing the team together and giving them all the resources they need to get the job done. Sometimes that comes as direction, sometimes it’s motivation. Sometimes, it’s just as a collaborator.

To succeed as an entrepreneur, adopt the coaching mindset. Your team can help you take your idea to the next level or drive yourself to financial ruin. It’s up to you which direction you take them.

This article was originally published in Entrepreneur.com

Image Credit: uk.sports.yahoo.com