Business Growth

Be patient.

Always keep in mind that success won’t happen overnight. It’s going to take some time before you make a profit.

Don’t fear the competition.

Don’t bad-mouth the competition when talking to investors or customers. There’s no need to become an object of pity. In fact, talking in this manner might even point customers to a competitor who may offer a product or service that you don’t. Remember, when competition exists, there’s a market for your business. Use that knowledge as inspiration to outperform a rival.

Network.

Don’t be afraid to get out there and show your face to the public, whether at a conference or just being out and about with friend on a Friday night. But try to stay local because travel can dwindle your budget.

Don’t be overly concerned by the economy.

Some of the best businesses have launched during a recession. In fact, half of the companies in nigeria to spring up as a result of recession.

Honesty is the best policy.

If any issues with employees emerge, be sure that they are addressed. No one enjoys being talked about behind their back.

Say goodbye to your social life.

You’re going to spend a lot of time devoted to the business

Realize when it’s time to move on.

Failure is inevitable. If things aren’t working out and you’ve done all you can, then put aside your pride and close up shop. Something like this is not easy to accept.

Don’t just rely on the advice of others.

Despite my offering up all of these tips for you, perhaps the most important piece of advice is something learned the hard way: While many people may offer a startup assistance, recognize that in the end you’re the person running the show and the one responsible for the company’s success and failure. If you understand what worked and what didn’t, you’ll burnish the skills and knowledge to run your business.

 

The five steps to overcoming.

A realistic perspective is not based on irrelevant comparisons, but in your focus about what you are doing and why it is good. The steps to reach an enduringly positive perspective are deceptively simple, yet complex in their results.

5 Steps to Overcoming the Entrepreneurial Blues

1. Gratitude.

The grizzled old musician Ray Hubbard once said, “The days my gratitude is higher than my expectations, those are really good days.” Psychology professor Robert Emmons amplifies this insight by noting, “Gratitude blocks toxic emotions, such as envy, resentment, regret and depression, which can destroy our happiness. …It allows individuals to celebrate the present and be an active participant in their own lives. …It focuses the mind on what an individual already has rather than something that’s absent.”

The fact is, you have much to be grateful for. You are your own boss; you have a vision worth chasing; and you are creating products people want, hiring people who need work and achieving things quietly desperate people won’t. Call it “counting your blessings” if you like, but when you do, you cannot help but be more positive in your outlook, and that makes all inconveniences seem petty.

2. Optimism.

Optimism comes from believing in the possible. As an entrepreneur, you have learned that what is possible is directly related to how you break down problems, how creative you are with solutions and how hard you work toward reaching a goal. You have what it takes, so you should be optimistic about your success.

3. Adventure.

My marketing director coined the line, “The unexpected is the essence of adventure.” Adventure is what life and business are about, so the roadblocks you encounter are part of the adventure. Put on your pith helmet and think of problems as vistas to cross, mountains to climb and wild rivers to swim.

4. Education.

Great entrepreneurs are voracious students. They learn through experience. Each problem they face is a puzzle that brings them more knowledge. Face each challenge as an opportunity to learn, and every challenge becomes a gain for you. You rack up more experience points and solve dilemmas faster when you confront issues knowing you will immediately benefit by learning from them.

5. The ride.

Keep in mind, you are not here for long. Life is too short, and the time we spend here too valuable to not enjoy the ride. “Enjoy every sandwich,” said songwriter Warren Zevon, facing terminal cancer. Your business is a wild ride like a rollercoaster, and you should enjoy every dip, lift, turn, flip and spin.

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