Tuesday, August 10, 2010

“Dos” and “Don’ts” of Staying Motivated as an Entrepreneur

There comes a time in every business owner’s career where they find themselves lacking motivation. After all, it isn’t every day that we fully expect our grand ideas to change the world as we know it. Sometimes, the fire just dwindles and it is all we can do just to go through the motions. Here are five tips on things an entrepreneur can do to stay motivated and five things to avoid doing that will drain the creative juices that entrepreneurs thrive on.

Do:

1. Avoid tasks that are overly routine or repetitive. The mind of the entrepreneur thrives on performing a variety of activities and the desire to constantly face new challenges. As such, settling into too much of a routine can be draining. If these types of tasks must be done regularly, hire someone else to do them.

2. Set deadlines – and keep them. Nothing motivates activity like facing a hard deadline for the completion of a task.

3. Network. No one “gets” an entrepreneur like another entrepreneur. Networking provides a perfect opportunity to share thoughts and experiences and discuss challenges facing the business. The fact that most networking events tend to be fun doesn’t hurt.

4. Surround yourself with people who buy into your vision. No one wants to be surrounded by “yes-men” but the successful entrepreneur will hire people who see the vision for the business and believe in it. After all, if the staff doesn’t believe in the business, how will the customers ever be able to?

5. Recharge the batteries. It’s true that the business depends on the entrepreneur. However, it’s also true that no one can go indefinitely without rest and relaxation from time to time. Take some time off occasionally. Start a hobby. The business will benefit from the entrepreneur being refreshed and relaxed.

Don’t:

1. Give up. No one likes to be rejected, but the entrepreneur is especially susceptible to disappointment because they live for their ideas. Remember, some of the greatest ideas in human history came about only after several tries. Personal computers? Television? Both ideas that were initially rejected.

2. Linger on the negatives. Everyone has bad days. The key to maintaining focus as an entrepreneur is not letting bad days turn into bad weeks or even bad months. Each day must be looked at as a fresh opportunity. In sports, we used to say “That play is over; now it’s time for the next one”. Entrepreneurs can apply that logic to their businesses as well.

3. Lose sight of the goal. Every entrepreneur has a long-term plan for their business. In many cases, the long term plan was the first thing that they came up with and everything else was just details on how to get there. The successful entrepreneur will take time to revisit that long-term goal and evaluate how they are doing. Doing so keeps them from feeling like they are “lost in the wilderness.”

4. Suppress your feelings. While screaming at employees or family members when there is business-related stress isn’t advisable, it is healthy to freely express your emotions. When the big deal didn’t materialize or the company didn’t land that big contract, don’t stew. Find a trusted companion who you can vent to. In the electronic age, venting online through a blog can also be therapeutic. Keeping the pressure off periodically prevents a major explosion down the road.

5. Ignore your health. Too often, entrepreneurs eat poorly or don’t exercise because they “don’t have time”. A healthy body will not only provide more energy to get work tasks done, but exercise can also be a great stress reliever.

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