7 Key Ways to Thrive as an Entrepreneur

  • The top motivation for someone to open a business is that they’re ready to become their own boss.
  • 69% of entrepreneurs start their business at home.
  • $10,000 is the average startup capital.
  • 82% of startup funds come from the entrepreneur or their family and friends.
  • Having a clear vision for what you want out of life and aligning your personal and professional goals around that.
  • Having a market that’s readily in demand for what you have to offer.
  • Discipline for your craft. As the saying goes, “Practice makes perfect.”
  • Being able to embrace failure as part of success and to keep learning.

1. Think Long-Term

Picture this: you just got a few new clients. You’re so excited at the prospect of more business, so you extend your working hours. Soon, you find yourself staying up until midnight a couple of times per week to keep up with the workload. Eventually, you’re working a couple of hours on your days off, too. At first, you really don’t mind doing this because it means you’re dedicated and getting shit done. You have something great to show for it, and your bottom line looks healthy.

2. Believe You Can

There’s something to be said about a powerful mindset. You need to be your own cheerleader when you’re setting goals. Even if you have others around you that want to see you succeed, it’s ultimately up to you to make it happen.

3. Know Your Purpose

People follow the entrepreneurial journey for a variety of reasons. Some of them like the idea of being their own boss and calling the shots. Others think it’s their ticket to a higher salary. You might see it as a way to give back to communities and help others through innovative solutions.

4. Merge Passion and Practicality

Business success is all about balancing your risks. If you only take steps that you’ve measured, studied, and calculated, you won’t be trying anything new. You’re likely to get lost in the sea of competitors.

5. Do Work You Love

Being engaged in your craft so that you are consistently motivated, driven, committed, and productive will help you thrive as an entrepreneur. Sure, there will be days when you want to lay back and focus more on self-care without having to solely think about work. But know that when you’re doing what you love for work, it stays top-of-mind regardless of what you’re doing and becomes an integral part of your life.

  • You won’t just be working for vacations or weekends.
  • You will have a greater purpose than just making money.
  • The money will absolutely follow.
  • You won’t feel like you’re just stuck doing chores you hate.
  • You won’t half-ass your work.
  • You will want to add real value to your target customers.

6. Keep Learning

Having the humility to openly state that you don’t know everything and that you’re in a state of learning will help you excel. Because let’s face it: doing business with a know-it-all can feel like a constant uphill climb. In fact, the clients that I’ve had a longer-lasting relationship with are the ones who walk in and know exactly where their expertise lies compared to mine. Doing this allows us to work collaboratively.

  • Be more approachable.
  • Begin to look at how you can position your offering around your target customers’ needs and challenges rather than just serving your own.
  • Keep up-to-date on trends within your own industry and can be steadfast with changes.
  • Build your knowledge base and apply that to your own business.

7. Get Used to Failure and Rejection

Failure is often the price of success. Many times, it takes trial and error to get your product or service just right. And even then, you may find yourself facing setbacks that keep you from success.

Wrapping It Up

As a general rule, entrepreneurs have an insatiable thirst for knowledge. They’re the ones who ask the tough questions and dive deeper into things that typically never hit other people’s radars.

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Suttida

Suttida

Entrepreneur. Raising a business and babies. Avid blogger. Digital marketing enthusiast. Love to get shit done. Learn more: suttida.com