entrepreneurship

10 online tracking tools every small business and startup should start using now

Tracking your webmetrics, social media followers, leads, conversions and impressions is essential to record the growth or fall.

Tracking your web metrics, social media followers, leads, conversions and impressions is essential to record the growth or fall. If there is an acceptable growth, you should continue with the same strategy whereas if there’s a decline, you need to change your strategy.

Here are a few tracking tools every small business and startup should start using:

1. Google analytics

The most popular web analytics tool, Google Analytics does a brilliant job at providing you with data about your users’ demographics, the kind of websites they use and also where they are from. The data acquired from this tool is completely reliable and the best part about this tool is that it is absolutely free of cost.

2. Social mention

This tool is one of the most popular tools to track your social media progress. It is an easy to use tool which lets you learn your brand’s strength and the number of times it has been mentioned and discussed on social media. This tool also lets you know about the latest hashtags and keywords in the social media circuit.

3. Clicky

Currently, Clicky is gaining more and more popularity on web analytics front due to the amazing features they offer. The best part about Clicky is that it gives you data in real-time so that you don’t have to wait to receive information about the traffic on your website. Clicky is very easy to install and offers Twitter Search Tracking which helps you monitor twitter tags, keywords and retweets.

4. ChartBeat

This is an app priced at $9.95/month but is a must-have for every publisher who needs every detail about the website. This tool gives you real-time data and also tells you how people are interacting with your content. In addition to that, this tool has a brilliant user interface and gives insights as to how users are sharing your content.

5. Alexa

Alexa has a free tool which most websites use to find out the current ranking. All you need to do is write your website’s name and the tool will give you the ranking based on your country and globally. A more advanced version can be purchased by paying a nominal amount.

6. Mint

This tool is a tough competitor to Google analytics because it extensively tracks basic statistics like referrals, searches, popular pages, and traffic trends. It has a brilliant interface with a one-time cost structure ($30). It tells you about the total visitors and the most viewed content. The bird feeder feature is brilliant as it measures feed subscriptions trends and clicks through for each item.

7. Hootsuite

Another social media measuring tool which lets you monitor brand conversations accurately. This tool helps you be up-to-date with Facebook, Twitter, and LinkedIn. All you need to do is craft a stream that matches your keyword. There are free, pro and enterprise versions of the tool available.

8. Woopra

This tool is priced from$0-$199 depending on how big your website is. It allows you to measure customer engagement in real time and monitor more than just one website at the same time. The best features of this tool are the live chat and the fact that it lets you track blog posts, comments, and searches through its WP plug-in.

9. Google content experiments

This is a free tool for testing and optimizing your site and is free of cost. Google Content Experiments lets you see how two different versions of a web page perform so you can optimize your site. It also looks after the heavy lifting regarding analyzing the data and lets you know which version of your website is the best and more likely to engage customers.

10. GrapeWeb statistics

This is a free program which helps you learn about the accurate number of website visitors and the referrals. It is easy to use with PHP or HTML and offers basic metrics. It is a must-have tool for webmasters who just want simple analytics. The only drawback is that you’ll have to install and host the tool yourself.

10 things successful leaders or entrepreneurs never say

Along with the words, the style of speaking and the tone also defines a great entrepreneurial leader.

For a budding or even a seasoned entrepreneur, communication is absolutely necessary. Communication is what he needs to focus on majorly because half his job depends on it. Communicating with team members, talking to VCs and setting up deals with vendors is not exactly easy. The words that they use while communicating are important because they leave an impression. Along with the words, the style of speaking and the tone also defines a great entrepreneurial leader.

Here are ten things successful leaders or entrepreneurs never say

“IT’S IMPOSSIBLE TO ACCOMPLISH.”

If an entrepreneur says this, it is a mark of disbelief and distrust on his employees. If an employee’s idea seems brilliant but far-fetched and could benefit the company, an entrepreneur will go to any lengths to make it work. Leaders need to believe in their team and that’s how they open doors to newer and better ideas.

“WE DON’T NEED NEW IDEAS.”

This is a phrase you’ll never hear successful entrepreneurs say as the settled ones are always looking for new inspiration for their venture. They are often looking for ideas to either expand their business or venture into a new market totally. Also, the successful entrepreneurs are open to any idea that will promote efficiency at a lower cost. With evolving markets, leaders are on a hunt for new ideas and people who can provide them.

“I DON’T CARE.”

This is the most demotivating sentence a leader can say to his team. This loosely translates to “I don’t have an opinion”. However, great leaders always have an opinion. If they like an idea, they praise the employee who suggested it and tries to make it work and if they think an idea isn’t workable, they explain it to the team why it won’t work. But, the lack of feedback reflects the lack of good leadership skills. No matter how trivial a suggestion might seem, leaders always need to have a take on it.

“IT’S NOT PERSONAL, IT’S BUSINESS.”

Good leaders are aware of the fact that it is always personal since you are uttering these words to a person with whom your relationship is at stake. Leaders are also aware that the key to building a great team is creating great professional and to some extent personal relations with the employees. If a leader constantly snubs or rejects ideas from employees, they will resent the leader and put in half-baked efforts which will hinder the growth.

“IT’S PERFECT!”

This might seem like a counter so I don’t care but it isn’t. True leaders know that perfection is difficult to achieve which is why they don’t throw terms loosely. Even if a suggestion or plan seems brilliantly crafted, it is the leader’s job to scrutinize it minutely and seek a flaw or a loophole in the plan. However, the flaws need to be communicated in a good manner and worked upon.

“I CAN’T.”

True leaders never really say things like this because this statement on his part displays either lack of belief or limited actions. If a task seems undoable, leaders will somehow find a way to do it without disappointing their employees. If a leader utters these words, it leaves a negative impact on the whole organization.

“X DOES THIS BETTER THAN YOU.”

This is a demotivating and derogatory comparison and successful leaders will never say it even if they feel it. It is unhealthy and does not inspire hard work and efforts. A person can be criticized in a healthy manner but pitting employees against each other will create rifts in the team and give rise to unhealthy and spiteful competition internally and these tensions are the last thing a leader wants to deal with.

“DON’T SHOW UP WITH BAD NEWS OR SURPRISES.”

This is another very demotivating and incorrect thing to say to your employees, however, we do hear leader uttering it from time to time. This might lead to employees hiding stuff from the leader which might turn out to be very dangerous for the company. Instead of making such a strong negative statement, the leader should have a positive approach like “I need to hear good news, today”.

“I DON’T HAVE TIME FOR THIS”

It is not an uncommon fact that leaders are busy, but, that in no way gives a leader an authority to talk to an employee in this manner. A successful leader puts it across in a better way by saying things like “Now is not a good time”. However, no matter how busy they are, great leaders always manage to find time for their employees via technology if not in person.

“BECAUSE I SAID SO”

The above statement shows unnecessary bossiness and might come across as a rude statement. It is very humiliating and disrespectful for an employee as he feels that his ideas or way of working isn’t valued and he is just a puppet to whatever the boss says. Instead, a leader needs to give inputs in a pleasant manner in which employees are open to.

10 Reasons why it’s never too late to start a start-up

There are many successful entrepreneurs, with ages ranging from 30s to 60s, shows that the success of a business is not directly related to the age of its founder.

It seems that it is often young entrepreneurs who make the headlines and receive most of the recognition for their accomplishments. Think of Mark Zuckerberg (Facebook), Matt Mullenweg (WordPress) and Pete Cashmore (Mashable) — all in their early 20s, and high up on the list of successful entrepreneurs. But the age of the founder is not the primary factor that determines whether a business will be successful or not.

There are many successful entrepreneurs, with ages ranging from 30s to 60s, shows that the success of a business is not directly related to the age of its founder.

In fact, there is an argument that those who start businesses later in life have a better chance of reaching success. Studies have shown that if you’re over 55 years old, you are twice as likely as your counterparts who are under 30 to launch a high-growth start-up. Not convinced? Here are 10 reasons you would make a better entrepreneur now than you would have when you were younger.

1. You have life experience

The most obvious and undeniable benefit of starting a business later in life is the fact that you now have years of life experience to pull from in your new venture. You are seasoned in the ways of the world, and you have a level of business acumen that you didn’t have in your 20s. You are more patient and willing to take each step in the business start-up process one-by-one in order to give your business the best chance it has at success.

While you may not have hands-on experience in every segment of the start-up process, it is very likely that you understand the importance of things like having a business plan, creating a solid financial plan and conducting thorough market research. And you know who you need to help you with the pieces you can’t do yourself.

2. You know more people (and they know people who know people)

At this stage of your life, you have likely built a large and diverse network of peers and colleagues. And because a new business often requires a village to thrive, your connections will be invaluable as you get started. Think about all the experts you have met in your life that could share their advice or provide services to help you in your new venture — attorneys, accountants, marketers, venture capitalists, financial planners, real estate agents, contractors, designers, and writers. This depth of a thriving network often takes years to build, so age is certainly an asset in this situation.

Having experience in the business world, you also understand the importance of networking and can ask for introductions when needed to move projects forward. This can often expand your network by double or even triple, giving you all the resources you need to get started.

3. You know how to set and achieve goals

Goal setting is an integral part of starting and running a business, and is necessary on a consistent basis during the life of the business. In our younger years, we don’t always understand the power of smart goal-setting for getting from one place in life to another.

As a seasoned goal-setter, the process of outlining a desired outcome, as well as the actions you will take to make that outcome a reality, will come as second nature. Your life experience will also help you remain objective as you consider different paths you can take to reach your goals so you can move forward in a more efficient, cost-effective and productive way.

4. You may have an advantage with investors

While young entrepreneurs are often favoured by investors because it can be easier for them to get a bigger ownership stake and have more control in the business, it can be argued that older entrepreneurs offer better chances of success because of what they bring to the table.

Many venture capitalists are looking for older, seasoned and experienced entrepreneurs who have “been there, done that.” The best investors are opportunistic, and by backing older and wiser entrepreneurs who have already made mistakes, they are able to make smarter investments.

5. You know what you’re passionate about

Many young entrepreneurs know they want to start a business of some kind, but they may not know exactly how they want to do it. This is because they haven’t had enough time to develop an idea of what they are truly passionate about. Richard Branson says that “Passion is one of the most effective motivators when it comes to launching a business — and often one of the strongest predictors of whether an idea will lead to success.” Without passion for your work, it’s very likely your business idea will fizzle out at some point. Older entrepreneurs know what they enjoy doing — and what they don’t — and can tailor a new business to fit that.

6. You have knowledge that is valued in today’s economy

7. You are financially secure

Starting a business when you’re young means you will probably be juggling the cost of business ownership along with the rest of life’s major investments many of us face: mortgage payments, children’s expenses (childcare, education, sports, vacations), healthcare, insurance, automobile payments, student loan repayment and retirement savings. While the expenses never really go away, the older you get, the more likely you are to have paid off a significant percentage of the big stuff. This frees up cash to invest in your business. Plus, having less financial responsibilities makes the idea of starting a business less risky since theoretically you will have a lot less to lose if things don’t work out.

8. You have a lot of start-up options

When you’re young, you have limited experience, a limited network and limited capital, so your start-up options are often limited as well — usually a bootstrapped start-up is the only way to go unless you can secure the ever-elusive financial backer. As a financially secure, seasoned professional, you have more options when it comes to your path to entrepreneurship. Sure, you can start a new business from the ground, but that is not the only option on the table. You can buy into a franchise, leveraging the power of an already successful brand and making it your own legacy. You can also form a partnership with a fellow entrepreneur and split the costs, workload and profits. Or, you can become an investor yourself, moving to the other side of the table by providing capital for someone else’s business idea. In return you get a percentage of the business, leaving the “in the trenches” work for them to handle.

9. You’ve failed before

Failure is a part of life, and the older we get the more failures we have on our tally. Whether you have two big failures on your list or 22, they are a huge benefit for two main reasons. First, the most valuable part of each failure is the lessons you learned in the process. Each failure taught you the importance of being prepared, hard work and why you need a contingency plan. Second, your fear of failure is probably a lot less significant now than it was in your youth. Since being afraid to fail can result in an inability to make a decision, lack of confidence and inaction, having less to fear can be a powerful reason why older entrepreneurs have an easier start.

10. You are self-confident

You know all of these failures we just talked about? In addition to valuable lessons learned, these failures also create one more big benefit as soon as you are able to rebound — they boost your self-confidence and motivate you to do better. Many young entrepreneurs have high self-esteem and a certain level of confidence naturally, but much of that comes from pure optimism that their business idea will turn into a hit. Optimism is definitely needed when starting a business, but when you take that optimism and add in confidence that comes with a track record of proven success, it’s unbeatable. As a seasoned professional, you have already experienced both wins and defeats, and have emerged with a powerful confidence that will allow you to take the challenges of business ownership in stride and come out ahead.

So if you are getting older and feel like your chance at entrepreneurship is fading away a little bit every year, think again. Now just may be the perfect time to take the plunge and start a small business.

6 websites every aspiring entrepreneur should bookmark

These websites are absolutely important for an entrepreneur to follow as it provides them with information, strategies and also teaches to use the various tools for a successful business experience.

Learning is an integral process for every entrepreneur and with the gamut of data available, an entrepreneur definitely receives a lot of help. The website has sufficient information which helps the budding entrepreneur to strategize and build his company accordingly.

The following sites are absolutely important for an entrepreneur to follow as it provides them with information, strategies and also teaches to use the various tools for successful business experience.

1. Entrepreneur.com

This website definitely lives up to its name by motivating budding entrepreneurs and helping them learn the tricks of the trade. The content on this site is packed with information, tools and strategies regarding how to start and build a whole company. The blog of the website is filled with articles related to marketing, business and finance tips to guide an entrepreneur. This website will educate and motivate the entrepreneur at the same time.

2. BusinessOwnersToolKit.com

This website helps to you start at the very basic stage. It is a simple guide which doesn’t believe in frills and provides you with relevant and versatile content. The versatility appeals to all kinds of entrepreneurs and while starting from scratch, this is the website to be hooked on to.

3. ChicCEO.com

This website calls out to the female entrepreneurs of the world as the name suggest. However, due to the nature of its enriching content, it garners traffic from both genders. The website helps you by providing step-by-step tutorials of website creation, creating a mission statement and more, all through e-mail. To make your life easier, the website also offers downloadable guides on a variety of subjects.

4. ASmartBear.com

This platform created and managed by Jason Chen has over 40,000 subscribers because of the level of information they churn out. A lot of marketing and entrepreneurial advice and tips are doled out on the website which have helped struggling entrepreneurs over the years to build and run their companies.

5. Ben’s blog

Living up to its tagline “CEOs are made, not born. Teaching You To Become One”, Horowitz’s website teachers entrepreneurs at a nascent stage about how to build their company and serve as proper and diligent leaders and CEOs. Once you delve into this blog, a lot of relevant information presented in a unique form is made available to you. The rap lyrics and accompanying music used will entertain you and help you make your business more alive.

6. YourStory.com

An Indian website founded by Shradha Sharma aspires to help all budding entrepreneurs to make it big by providing them with exclusive tips, guides and success stories which motivate entrepreneurs to make their companies successful.

3 ways in which entrepreneur can advocate their team

It is your duty as an entrepreneur to advocate your team in order to work efficiently.

Success isn’t the responsibility of just the entrepreneur or an employee. A company’s success depends on the smooth functioning of various teams. In a scenario where a team has succeeded in doing their part well, it is your duty as an entrepreneur to advocate them in order to work efficiently.

You can advocate their success in the following ways:

1. Acknowledge people and their work

To support a team’s success, you should first be aware of their existence and value and then acknowledge their position in your company. Often, we label a person as a “thing” which takes away from their dignity. So, unless we see the other person as a valuable human asset to the company, it is difficult to acknowledge. When a team has done a good job, it is your job to go out of the way to congratulate their good deeds and make them feel accomplished. When a team feels like their efforts are being honoured, they are bound to put in more hours of hard work because of the positive motivation created.

Related Post: How to form the right startup team

2. Believe in them

Advocacy is only possible when you believe in people that they are able enough to achieve great feats. By believing in them, you display the emotion of trust which drives people to stand up to that belief. Success doesn’t include demeaning the other person; instead, it comes from treating the other person in the room as an equal. However, this doesn’t mean that you should fake belief in people when you don’t have expectations. You need to be real and genuine while trying to lift your team’s spirits after a success in order to advocate it.

3. Boost and support the team’s endeavours

The best results are derived when the entrepreneur comes forth to support his team and the team is able to feel the support extended by the entrepreneur. People need to be heard and valued which is your duty if you want to advocate them. Being supportive means being a net to your team. Things might go wrong as to err is human so in those conditions, it is best to be there for your team. Similarly, when they’ve tasted success, it is your duty to encourage them and support them even in their good times.

Paytm Founder Vijay Shekhar Sharma became youngest Indian billionaire

Vijay Shekhar Sharma, ranked 1,394th on the list with a fortune of $1.7 billion, is the only Indian billionaire in the under-40 league.

Paytm founder Vijay Shekhar Sharma, 39, is the youngest Indian billionaire, while 92-year-old Samprada Singh, chairman emeritus of Alkem Laboratories, is the oldest, according to Forbes.

Sharma, ranked 1,394th on the list with a fortune of $1.7 billion, is the only Indian billionaire in the under-40 league.

Sharma founded fast-rising mobile wallet Paytm in 2011. He has also created Paytm Mall, an e-commerce business business and Paytm Payments Bank.

“One of the biggest beneficiaries of India’s demonetisation, Paytm has notched up 250 million registered users and 7 million transactions daily. Sharma owns 16 per cent of Paytm, which is now valued at $9.4 billion,” Forbes said.

Related Post: Ritesh Agarwal: The man behind OYO Room

Of the 2,208 billionaires in Forbes’ 2018 list of the world’s richest, just 63 are under the age of 40 and more than half (34) are self-made entrepreneurs.

In all, the 63 youngest billionaires in the world are worth a collective $265 billion, up from $208 billion last year.

Meanwhile, 92-year-old Samprada Singh, who is the chairman emeritus of Alkem Laboratories, is the oldest Indian billionaire. He was ranked 1,867th on the list with a fortune of $1.2 billion.

Singh founded the pharma firm Alkem Laboratories 45 years ago. Singh worked in a chemist’s store before venturing out on his own distributing pharmaceuticals.

“Shares of the generics maker, known for its antibiotics Clavam and Taxim, have more than doubled since its November 2016 IPO. For the year ended March 2017, Alkem reported a 20 per cent rise in net earnings to $139 million on revenues of $913 million,” Forbes said.

Never told secrets of top CEOs about managing work better

Lessons from Richard Branson, Phil Libin, Jack Dorsey, and other successful CEOs.

The successful CEOs of any company try to achieve more in less time. However, not every CEO is uber-productive and successful. Some are, because of well-guarded secrets. However, we bring to you the secrets behind these CEO/Founders’ success:

1. Richard Branson, Founder of Virgin

“In Virgin’s case, we fly the same planes as our competitors and our gyms offer much of the same equipment as other gyms. What separates our businesses from the competition? Our employees.”

2. Phil Libin, Evernote

“Like everyone else, I used to just work on airplanes—I’d use that as a time to catch up on things. And I stopped. I basically said when I’m on a plane, I won’t work. I’ll read, I’ll play video games, I’ll sleep, I’ll watch movies, but I don’t work. It makes me look forward to flying. I can get off a long flight, and actually be kind of relaxed.”

3. Steve Gefter, MD of IDDS

“Serial entrepreneurs have a mindset unlike anyone else; they are entrepreneurs on steroids. A ‘get it done’ work ethic is the most essential trait. Starting a business takes a lot — financially, emotionally and physically. To start one business requires a ‘roll up your sleeves’ mentality, so imagine what it takes to start five or 10. You either have it or you don’t; and the most successful serial entrepreneurs do.”

4. Adora Cheung, CEO of Homejoy

To keep things focused and brief, she has co-workers add agenda topics to a Google Doc spreadsheet before a meeting, and then she prioritizes them. “If it’s not on the Google Doc, we don’t talk about it.”

5. David Goldin, President and CEO of Capify

“You need to be constantly thinking of how to enhance and grow your business because your competitors are doing the same. Remember that losing is not an option and when you’re in stressful situations, you’ve got to figure out ways to navigate and overcome the obstacles. If it was easy to be an entrepreneur, then everyone would be one. The best entrepreneurs need to be resilient and bounce back from anything.”

6. Beerud Sheth, co-founder and CEO of Teamchat/Webaroo

“After my first start-up, I stopped riding the emotional roller coaster inherent in the start-up journey. In start-ups, the highs are higher and the lows are lower — the emotional swings can drive you crazy. I learned to stay level-headed, even-keeled and focused on the longer term.”

7. Jack Dorsey, Chairman of Twitter

Dorsey’s secret to success is that he “themes” his days, devoting a different day each week to different types of work.

“Mondays are for management, Tuesdays are focused on product, and Wednesdays are for marketing and communication, and so on. It sets a good cadence for the rest of the company.”

Story Of Gaurav Rana, From Collecting Cow Dung To Building A Rs 11 Crore Start-Up

At just 24, he has made his name in the start-up world and comes across as a charismatic young entrepreneur.

More than talent, skills or resources, it is the willingness to keep pushing your limits which brings you face to face with success. This incredible story is about a 24-year-old who everyone thought was a good for nothing chap but the very same people today can’t stop obsessing over his success. His unconventional ideas have made him the CEO of a company which has been valued at Rs 11 crore despite a very short span of operation.

Meet charismatic Gaurav Rana who grew up in a tiny, nondescript village named Sonf in Haryana. The wealth of his father had exhausted by the time he was five years old and all that was left for him was daily struggle with poverty. His father had become an alcoholic and was suffering from mental trauma. Whatever little money came their way was from his grandfather who ran a grocery store. They managed to buy food but couldn’t afford LPG to cook it so Gaurav and his elder sister spent all day collecting wood and cow dung in and around the village. The kids would make cow dung cakes and pass them on to their mother who would then cook some food for them.

To divert his attention from the painful life Gaurav started painting. Well-off children came asking him to draw for them and would in-turn give him Rs 20. While he was in STD 8 he started going to a nearby salon and learnt the art of haircut and shaving. The owner let him handle a few customers everyday and give him some commission for his help. The situation at home was still as grim as ever and the only way out seemed to be in education. In STD 10 Gaurav scored 96.9% and took admission in a deemed university in Agra where his grades dropped consistently and he couldn’t even touch 60% by the time he passed out.

“I couldn’t appear for placement interviews because I scored abysmal 58%. I pleaded with my teachers and got a chance to appear in one interview”. His low grades fetched him just one chance but he cracked it. He got a job with Eicher Motors for a monthly salary of Rs 15,000. But this good news was overshadowed by problems at home. His parents were burdened under a sum of Rs 2 lakh that they had borrowed from friends and relatives who wanted their money back.

“I had no money to go to Indore and join Eicher. There was no question of borrowing money as all our relatives had turned hostile. I was heartbroken to see how people change and decided to end our financial struggles somehow”, Gaurav recollects.

A friend’s mother helped him and he reached Eicher, Indore. He did night shifts there and worked as a dance teacher and event organizer in the day time. Gradually, he paid off all the credits his family has taken but had also realized that he couldn’t do job all his life. He was giving more and more time for organizing events which reflected poorly at his performance in his company.

“People had tagged me useless, for them I was good for nothing”, he says.

However, the perception of people changed when he did an event with FTV and the news splashed all over the newspapers. To celebrate his success he went back to him home in Haryana where his mother worked as a local beautician. She had to attend a client that day and the person was coming in every few hours to remind her of the task. Gaurav saw a gap here and thought he could fill this up with technology.

He came back to Eicher and couldn’t stop thinking about his idea. At the company’s annual party he got to know that the VP’s wife has 25 years of experience in IT. Despite his friends warnings, he boldly approached the woman and pitched her the idea and asked if she would collaborate on this. To his utter surprise she agreed and became the initial investor for Calipso, a company that delivers beauty services wherever the customer is.

The idea was unique and has become a major hit in Indore. Calipso has tied up with OYO rooms and several beauty salons to reach out to their customers. The latest trend that Gaurav has introduced in the industry is setting up stalls at weddings. “Nobody even thought of doing this even when there was a clear need for it. Ladies now chat away while getting a pedicure at weddings while men get a touch-up down after sweating it out on the dance floor,” Gaurav says in his thick Hariyanvi accented Hindi.

On being asked about competing against other doorstep beauty servicing giants he says, “I don’t think there is any competition because no matter how much funded they are they can never take away my guts from me.”

Currently, Calipso is operating in Indore, Bhopal and Ujjain making its way to expand in metros next.

Today, Gaurav employs more than 25 people and Calipso is valued at over Rs 11 crore. At just 24, he has made his name in the start-up world and comes across as a charismatic young entrepreneur.

“My relatives who had stopped speaking with us are now cordial again. One should always remember that times keep changing and hardwork pays off, every single time”, he said.

7 Mindfulness hacks for entrepreneurs to build a successful business

Mindfulness provides the clarity of thought, creative ideas and higher awareness required to make better decisions.

Starting a business can be a stressful experience. You don’t know if people will like your product or service. Is it something people really need? What about the competition? How do I hire the best talent? There is so much to do with so little resources that all these concerns can weigh you down, distract your focus and even cloud your judgment.

On the other hand, top executives in big companies, from Google to Goldman Sachs, are beginning to realize the importance of mindfulness to achieve their full potential. Worrying less about today’s problems and losing sleep over future obstacles can pave the way for mental as well as physical well-being, leading to better performance.

Mindfulness provides the clarity of thought, creative ideas and higher awareness required to make better decisions. It also alleviates the physical stress that stops you from giving your best. So how can it help entrepreneurs: the startups, small businesses and solopreneurs striking out on their own trying to change the world?

Here are 7 ways entrepreneurs can apply mindfulness to bring order to their chaotic lives and realize their dreams:

1. Don’t be a sleep hero

Running a business is like running a marathon. You need to be able to put in your best effort for weeks, if not months, together. If you don’t get adequate sleep, you’ll feel tired quickly and your startup will suffer.

Sure, you may pull the occasional all-nighter but ensure that you get a good 6-8 hours of sleep every night. You may have read mythical stories of successful entrepreneurs who sleep for just 4 hours a day. But understand that it’s only one side of the story. Such people often make this up later by sleeping for a long time.

Lack of sleep will affect your cognitive abilities – you won’t be able to think clearly and make important decisions. Go to bed early. Wake up early. If you feel tired or sleepy, take a quick nap.

2. Escape your inbox

Email is a great tool to communicate with people and grow your business, but it can hurt your productivity if you spend too much time on it.

Set aside a specific time (before you start your work, after lunch, or before you leave for the day) when you check your inbox every day. Filter your emails into folders, prioritizing those that need to be answered the same day.

Also, avoid replying to all your emails. It’s wonderful to help others but not at the cost of your own focus and productivity.

“Concentrate all your thoughts upon the work at hand. The sun’s rays do not burn until brought to a focus.” -Alexander Graham Bell

3. Keep aside “thinking time”

It’s easy to fall into a routine carrying out the day-to-day tasks required to run your business. Although it’s a good habit that helps you stay focused, you might miss the big picture if you don’t look at your business from a different perspective.

Devote at least an hour a week to thinking about the next steps, analyzing if you’re headed the right way and what can be done better. It’s essential to give your brain some space and time to explore creative ideas and discover the ‘Eureka’ moments.

4. Spend some time developing your beliefs

To drive your startup to greater heights, you need to truly believe in what you’re doing and know why you’re doing it. If not, you’ll get demotivated whenever you face an obstacle. In your life’s most challenging moments, it is only your belief that will pull you through.

As Steve Jobs said in his Stanford commencement speech, “I’m convinced that the only thing that kept me going was that I loved what I did. You’ve got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”

Spend 15-30 minutes every week reminding yourself why you’re doing what you do. Write down a mission statement and keep it in your wallet. Read it whenever the going gets tough. It will help you calm down, and recharge yourself.

5. Regain your focus every morning

The focus isn’t about typing away on your laptop for hours, or spending all day in meetings. It’s a bigger commitment to yourself to see through a task and do everything it takes to make it happen.

Such focus is present with you at all times, even when you’re not working. It moulds your attitude, your way of thinking and even your approach to life. It guides you in the right direction and enables you to quickly spot and avoid distractions.

Spend some time every morning before work developing your focus through meditation or similar activities.

6. Avoid emotional decision-making

Don’t make decisions when you’re feeling super-high or low with anger, sadness, or anxious. Make these key decisions when you’re treading the middle path. Every business decision costs a lot of man-hours and money, so never hesitate to put off a decision until the next day unless you’re not feeling emotionally balanced about it.

7. Organize your office (and your mind)

Whether you have a proper office or just work from a laptop at cafes and parks, it’s essential to keep it tidy in order to be more productive. A well-organized and tidy office will not only help you get things done faster but also develop a space conducive for strategic, logical and creative thinking.

Start by decluttering your office space. Only keep things there related to your work such as books, files, office stationery, and laptops. Remove unnecessary items such as last week’s plates and relics that should probably be at your home.

Also, clear out extra stuff from your laptop and phone. Delete unused files and icons from your desktop, and remove unwanted apps from your smartphone.

“Eliminate physical clutter. More importantly, eliminate spiritual clutter.” -D.H. Mondfleur

These tips will enable you to channel your efforts in the right direction and avoid getting overwhelmed with the tasks at hand. Put aside some time every day to clear your mind and practice the above habits. Within 2-3 weeks, you’ll begin seeing results – an organized mind with a focused mindset to achieve its dreams. How do I know this? It has worked for me.

Which one of these tips did you find most helpful for developing your career? Let us know in the comments below!

3 Rules to follow that will make you a successful leader

Founder and CEO of Predictable Success, Les McKeown, talks about the challenges that leaders face while managing their teams.

Founder and CEO of Predictable Success, Les McKeown, talks about the challenges that leaders face while managing their teams. Here are 3 rules to follow that will make you a successful leader.

5 Rules of product design from Steve Jobs

The Apple founder, Steve Jobs, was a master of creating products that functioned beautifully-and looked even better.

The Apple founder, Steve Jobs, was a master of creating products that functioned beautifully – and looked even better. Here are 5 rules of product design from Steve Jobs.

How Michael Dell took on IBM during his freshman year of college

Michael Dell describes three issues with the way people were buying and selling computers that he wanted to fix.

The founder and CEO of Dell Technologies, Michael Dell, describes three issues with the way people were buying and selling computers that he wanted to fix.

6 Must read business books of 2018 for entrepreneurs

Don’t miss the wisdom in the pages of these upcoming titles.

Don’t miss the wisdom in the pages of these upcoming titles. Here is a list of 6 upcoming books that will level up your abilities in 2018.

These 10 steps will help any entrepreneur get their game right

You’ll think you’re doing it wrong most of the time, while secretly hoping you’re getting some of it right.

You followed your heart. You turned your passion into your mission. Your fear of regret superseded your fear of going for it. You’ve worked hard, but the success you desire didn’t arrive on schedule. You’ve had achievements, followed gurus, and kept your dream alive through sheer tenacity and a determination not to return to the hamster wheel from which you jumped.

You’re exhilarated at the thought of being your own boss, working alongside your dog, and not punching a time clock. What you may not have known about entrepreneurship is that, like raising kids, there are ups and downs, overwhelm and excitement, pain and joy. You’ll think you’re doing it wrong most of the time, while secretly hoping you’re getting some of it right. You’ll want to quit. To all those statements, I can say, me too.

Here’s 10 ways to change your game and get it right:

1. Refine and release your product offering

Your business isn’t just about what you’re selling and what problem it’s solving. Focus on what gives your life meaning and how what your offering represents that. You’re selling your story, not your product or service. And, if you’re stuck in the pondering, refining, revising, rewriting, or redesigning stage, move forward. Get a good, not perfect, product out there. Rinse and repeat. Done is better than perfect unless you’re engineering heart valves or knee replacements.

2. Build your brand from your heart, not your head

If no one knows who you are, where to find you or what you do, they can’t buy from you. A legitimate problem but easily solvable. The step that matters most to your bottom line, however, is incorporating bits of your journey and soul, not just your expertise. Focus on being resonant. A great brand builds relationships and relationships are why buyers choose you over and over.

3. Determine if you have a fear of failure, a fear of success or both

You are probably clear on fear of failure- the hesitancy that comes with the fact that what you’re doing might not work out and could be painful to you and your bank account. What you may be less familiar with is a fear of success, that can be equally paralyzing because you have deep-seated worries about how your life will change if your business really takes off.

You might be disappointed that you haven’t reached your goals, but you are comfortable with the familiarity of how your life is now. Fear of success is released the same way as fear of failure. Ask yourself three questions. What’s the worst that can happen if I’m successful? Can I handle it? And, what’s the best that can happen? Then choose comfortable and familiar or success.

“Fears are educated into us, and can, if we wish, be educated out.” -Karl Augustus Menninger

4. Hustle

When you link your service to your story, you can easily talk to everyone all the time about what you do without sounding coercive or salesy. If you want to be successful, you have to be the mayor. Fake being outgoing until you’re outgoing. You may have held back because hustling sounds icky. You may also have mistakenly thought you were hustling when you weren’t!

If you work all the time but aren’t getting where you want to go, you may be doing more of what’s comfortable rather than what works. Give your inner badass entrepreneur a hustler nickname and embrace that part of you that knows you’re in business to make money as well as making the planet a better place.

5. Focus on what you don’t do well but desperately need

If you’re spending all your time becoming more of an expert at what you do, chasing more credentials and living in the comfort zone, but you’re neglecting marketing, strategic planning, competitive analysis or some other part of your business, success will continue to elude you. Instead of listening to Ted talks and reading journal articles in your field, focus on the major players in a business like Tim Ferriss, Tony Robbins, and Gary Vaynerchuk and everyone they interview.

6. Focus on the small goals on the way to the big dream

I love dreaming big, like focusing on becoming a NY Times best-selling author. That goal is definitely on my vision board but so is to finish writing the book and get it published. That’s a simple example but overlooking consistent, focused small steps while affirming the big goal will not get you where you want to go. Don’t focus on a net income of $2 million when, immediately, you need to focus on making enough money to keep you out of a day job.

“Discipline is the bridge between goals and accomplishment.” -Jim Rohn

7. Make “I can” your new motto. Banish “I can’t” from your vocabulary

It’s rarely true anyway. You can say: I don’t know how, I’m working on it, and I need to figure it out, which all imply that there is a solution to be had. I can’t is final and permits you to quit. I can, not only psychologically primes your brain to find a solution, it switches your thoughts from a fixed to a growth mindset.

8. Ask for help

It’s easy to slip into excuses, like “everyone’s busy”, “you have to pay people to help you” and “why would so and so want to help me”. It’s a risk to ask for assistance. However, wishing, wanting and hoping what you need magically appears succeeds far less often than asking for it. The answer will either be a yes or a no, and either is ok. Don’t take it personally. As Jack Canfield says, every no brings you closer to a yes. Be sure to show or tell them why they want to help you and offer to assist them in return.

9. Know your role models

Don’t reinvent the wheel because wheels exist. Find who’s doing what you want to do, be and have. Study them, contact them, and do what they did. For work, life and relationships- know your role models. And keep it in perspective. Your big goal may be that your mentors become your friends but you need them to be your mentors first.

10. Enlist a support team

You need your cheerleaders and tough lovers. These are people who will provide unbiased support- celebrating the victories, cheering you through the difficulties and asking the tough questions that help you win big. They brainstorm solutions and provide a much-needed connection for the SOULpreneur.

Most of the success is mental, not mechanics, but these steps cover both, require no financial investment, and you can start on them today. As mega fitness superstar, Shaun T says, “Let’s goooo!”

What gets you excited? Comment below!