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10 Lessons Entrepreneurs Can Learn From Michael Phelps

10 Lessons Entrepreneurs Can Learn From Michael Phelps

The push, the grind, the effort, the consistency, the failures and the victories. We all have success and failures in life, but what matters is how we handle the adversity. Being an entrepreneur is very similar to being an athlete.

The qualities you must possess, the adversity you experience, the physical, emotional and mental pain, all feel the same whether you’re an entrepreneur or an athlete. As an entrepreneur and “retired” Div I collegiate athlete, watching Michael Phelps during the Olympics, I was inspired by his story. Love him or hate him, his story resonates to a human’s core. It surely did for me.

Since I’ve been thinking so much about his story and what makes it so inspiring, I couldn’t help but relate this hero’s journey to entrepreneurship. Life has ups and downs. It’s hard. We are all looking for hacks, tips and resources to ease our pain and find our way back home to share our story of success.

Life can knock you down, like it does for everyone, but how you handle the adversity is what matters. The process of getting back up and facing your biggest critics is how character is built.

Let’s look at the powerful business lessons I learned from a powerful force in the water, Michael Phelps.

1. Be True to Yourself

I’ve watched several interviews with Michael recently and he kept saying he wanted to do it for himself. He wanted to go out on top and do this his way. Can you relate?

With so much noise online and gurus claiming they have the answers to financial freedom, it’s hard to hear your own inner voice and calling. Maybe you’re not sure which action to take. You may feel paralyzed with fear. (I know I do sometimes.) Will the grammar police correct me publicly? Will they think I’m a fraud?

One thing I’ve learned is that I have to be true to myself. I have to get back in the water, as Michael did, even though it’s scary and won’t be easy. Staying true to myself and building a business, on my terms, is what it’s all about.

2. Hone Your Craft

Michael has perfected his craft. He studies film, he takes consistent, daily action. He pushes his body to the limit and he has been doing so for years. I think one of the hardest lessons in life is learning patience.

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And as an entrepreneur, do you have the patience to hone your craft without seeing any results? Are you willing to put in the time after multiple failed attempts? Are you willing to write that book without a publisher, create opt-ins that don’t convert and run Facebook ads that see zero ROI? The entrepreneur’s life is consistent with trial and error. For that I’m certain. We are constantly bombarded with million dollar stories and what seems to be overnight successes.

Michael didn’t win 28 medals “overnight.” It didn’t take him less than a year to hone his craft and reap the rewards. It took years of patience, skill and tenacity. It takes time to hone your craft, remain consistent and practice patience. Are you looking for the quick fix and the simple solution?

Think about it. Do you have the patience to hone your craft?

3. Surround Yourself With the Right People

Most people only have a handful of real friends. Look at Michael, he thought he had friends until someone snapped a photo of him taking “hits from the bong.” There are only a few people in your life that can show you empathy, love and compassion without judgment.

Surround yourself with those people. The wrong people in business will only bring you down and destroy what you’ve built. Find people that lift you up, make you a better person and won’t judge. Currently, if you have the wrong people in your life, you’re allowed to distance yourself and find new friends.

I give you full permission.

Michael didn’t get to where he is without the help and support from the right people. If you don’t currently have anyone in your life, start trusting yourself and connecting with like-minded people that think and perform at the top of their game. Your business and legacy depend on it.

4. Rule Yourself

Have you seen Michael’s Under Armor commercial where he’s working out, swimming countless laps and pushing himself to the brink of exhaustion in the dark? Without a doubt, you notice that determined, focused, passionate look on his face that says, “I’ll never quit.”

It’s the look of an athlete on a mission.
It’s the look of a single mom that works three jobs to make ends meet.
It’s the look of a professional that has their employees and family depending on them.
It’s the look of an entrepreneur up until 3 a.m. the night before a launch.

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“It’s what you do in the dark that puts you in the light. Rule Yourself. I will.”

It’s the ability to rule yourself.

It’s the ability to choose how you want to feel and take back your power.
It’s the ability to accomplish your goals.
It’s the ability to believe in yourself and to know your own value.

Rule yourself my friend, rule yourself!

5. Set Big, Audacious Goals

Katie Ledecky, swimmer and Olympic Gold Medalist, (not Michael this time) said in an interview with Ryan Seacrest that she set a goal after the 2012 Olympics and wrote it down. It was a big, scary goal that she didn’t think she could reach, but four years later, she crushed it.

What does that mean to the entrepreneur that wants to retire their spouse and impact the world? It means that without goals, you’re going nowhere. Goals don’t have to be solely financial either.

Set “impact goals” like, how has your business changed lives?
How can you measure impact?
How many of the right clients have you created as a result?

Get creative in how you measure the results. You could record how many positive emails or testimonials your get on a daily or weekly basis. That could be the driving force in your business. Set an impact goal and strive to increase it weekly, monthly, quarterly.

6. Finish

I hear and see a lot of entrepreneurs starting projects, but rarely ever finishing them. Of course, there have been plenty of times when I didn’t finish a project. But if I’m taking a lesson from Michael Phelps’s book, I’m going to finish what I start.

If I set a goal, I will rule myself until the end. I’m a little stubborn like that.

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There have been hundreds of times when I wanted to quit, but I didn’t.
I wanted to quit when I was in college, but I didn’t.
I wanted to quit when I first started my business, but I didn’t.
I wanted to quit being a mother at 4 a.m. with a screaming child, but I didn’t.

There have been plenty of projects and ideas that never have seen the light of day, but that doesn’t stop me.

Do you think Michael got to be the most decorated Olympian of all time because he quit when it got hard?

Finish.

Finish when it’s not sexy and you don’t feel like it.
Finish even if you don’t make millions from your effort.
Finish because you’ll learn something about yourself.
Finish and you’ll figure out the rest along the way.

7. Flexibility

You’re allowed to change your mind. There’s a fine line between “staying the course” and adjusting along the way. You have to stay the course, but if it’s clearly not working, things need to change.

I hear all too often that “this is how it has always been done” and it kills the creativity of businesses. Things must change to sustain.

It takes skill as an entrepreneur to know when to stay the course and when to be more flexible. Surely you’ll make the wrong decisions along the way, but keep an open mind with your vision. The journey is long. Remain flexible in how you get to your destination, but stay firm in your vision.

8. Implement

You must take action and implement what you learn. How many times have you gone to a summit or conference, learned hours of valuable information, met tons of amazing people only to return home to “business as usual?”

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“Insight without action is worthless.” – Marie Forleo

If you study film, read an article that inspires, educates, motivates, you must follow through and implement the lessons. Apply and do the work. It matters! Get out there and start doing. Take risks and make things happen. You got this!

What action can you take today to apply what you’ve learned?

9. The Pain Has A Purpose

If you’re human, you’ve experienced pain, but the pain has a purpose. It always does.

Often times you can’t see the purpose or reason for the pain, but the message will appear when you’re ready to hear it. Michael felt the pain after his second DUI. The world as he knew it was coming to an end. The pain was immense, but from that pain, he began to heal.

He went off to rehab and found himself swimming in a pool way too small for an Olympic athlete, but within the confining walls of a small pool, he found a man with a purpose. Your pain has a purpose too.

Can you see your pain as an opportunity for growth? Can you move through the pain to see a new perspective? Find your place to heal. Take a step back and get quiet so you can see more clearly. Allow your heart to open and for the forgiveness to enter.

10. Consistency

Consistency is huge and it’s something so many of us struggle with. There will always be someone better, stronger, faster, more skilled and more talented, but the “best” are the ones that remain consistent with their purpose and mission. You don’t have to be the best writer, speaker or leader to make an impact, but you do need to do it consistently.

What makes Michael different than any other swimmer in the world? There are many factors and variables, but one thing remains true. He’s consistent. He consistently shows up and does the work. He puts in the time and goes the extra mile.

Where can you be more consistent as an entrepreneur? Where can you consistently focus more of your time?

The most successful entrepreneurs aren’t working on a whim. They show up consistently and take action even when it’s scary and hard. Be that entrepreneur that makes a difference and changes the world. The world needs you!

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Maggie Rowe

Copywriter | Life Coach

10 Lessons Entrepreneurs Can Learn From Michael Phelps

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Last Updated on July 2, 2020

13 Common Life Problems And How To Fix Them

13 Common Life Problems And How To Fix Them

In life, we encounter problems as we breathe. But it doesn’t get to us until we feel a major impact, and that’s when it becomes a source of concern, hurt, or sorrow.

Life problems, depending on their magnitude, can be clogs in the wheel of progress, and we may not be able to attain our full potential if we don’t learn to place our problems in the proper perspectives as suggested in Robert Schuller’s Tough Times Never Last.

In this article, I have identified some common areas where you will most likely face problems as you make progress towards reaching your full life potential. I have also suggested practical approaches in handling, managing, and solving such problems.

1. Financial Crisis

We live in an uncertain world and a financial crisis may come at different stages of life. While you should always anticipate and prepare for a financial crisis, it may still catch you off guard or the magnitude may be far more than any preparation you have made over the years.

It could be that you lost your job or a major investment, got slammed with a lawsuit that threatens your savings, or have your livelihood be affected by a major disaster. So what do you do when you are in a financial mess?

Solution

To overcome a financial crisis, you will have to come to terms with the crisis. Acknowledge and accept the situation and begin recovery by setting your financial priorities right.

The next thing to do is to identify the cause of the crisis. If it’s due to a job loss, then your effort should be directed at getting a new job. If it is having multiple debts, look for ways to consolidate your debt so that your monthly debt repayment can be consolidated into one instead of being burdened with multiple payments.

You can also sell some of your assets to raise money to save the situation, or look for a better job if you are earning less at your current job. Don’t hesitate to ask for help from family and friends if you need to.

2. Health Crisis

Another major problem that might come up in your life is a health crisis. This is not far-fetched because our body systems work round-the-clock, even when we are sleeping. As a result of this, and if you don’t maintain routine health habits, health deterioration might begin to set in. Things might even get serious if you don’t attend to it early.

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Solution

When you are facing a major health crisis, the first thing to do is to consider lifestyle changes. This includes cutting down on junks, eating healthy diets, exercising, breathing fresh air, taking some sun, etc.

Apart from the lifestyle changes, you have to seek quality medical help and make sure you get different opinions about the state of your health so you can get the best affordable care.

3. Relationship, Marriage, and Family

There may not be anything as sweet as love and family life, but it can also be the source of pain for some. Human imperfections in a relationship can cause a major crisis in life. This has been a stumbling block to many on their path to fulfillment.

Solution

The best thing to do is to prevent relationship problems from happening, but if they do happen, you need to face reality and begin to take steps towards addressing them. Do your best to keep the lines of communication open as this can help in strengthening your struggling relationship. Talk about the challenges with your partner and look for common grounds.

You can also arrange to see a counselor together or read books that address the specific challenges you are facing. The worst thing you can do is to end a relationship and that’s only when you have exhausted all other options.

4. Workplace

The workplace is supposed to be a place where we dutifully render the services for which we’ve been hired.

However, it is not impossible to face animosity at work—dealing with toxic people who would rather not see any good in what you do. It might be caused by differences in background, attitudes, and unhealthy competition that can result in personal conflicts. This can create undue stress and reduce productivity.

Solution

Be as professional as possible when dealing with toxic people. Be kind and show understanding, and try to avoid personal confrontation.

You can even try to reach out to the persons and invite them over for a coffee and get to understand their worldview. This can help you to connect with them at their level so that you can avoid unnecessary stress for yourself.

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5. Career Pressure

In your quest to become more successful, you will likely encounter work-related pressure. Such can come when trying to stabilize your career or climb the career ladder. It can also come as a result of overworking and having no life. Career pressure is one of the most common life problems.

Sometimes, it may be that the promotion you are working hard to get is not coming or positions you are qualified for are being offered to others. The pressure can get more intense when you find that most of your colleagues are moving ahead of you.

Solution

Check to find if you have personal or attitudinal problems. Some attitudinal problems can put you at a disadvantaged end. It may be poor communication, poor personal grooming, or poor relationship and networking skills. If it is any of these problems, then work on improving yourself in those areas.

You can also observe your colleagues who are succeeding and take note of what they are doing differently.

6. Unfair Treatment

We are in a world where some people often think they have some privileges over others and may want to exercise this thinking and treat others unfairly. If you find yourself in an environment where you are being oppressed or treated badly because of your race, gender, or current status, this can make you feel really bad and can also affect your psyche and productivity.

Solution

There is the temptation to decry your treatment, defend yourself, and demand a change immediately, but you should really wait for the right opportunity to do that.

When the time is right, reach out directly to the person or authority involved, and make it private. Meanwhile, you should be factual about the instances of your unfair treatments. Don’t just say it that you are being treated badly; give several undeniable instances.

Once you’ve made your grievances known politely, keep being you. If things don’t change, you can cocoon yourself in that environment. If you have an option to leave, you can do so as well.

7. Emptiness and Boredom

When you are in a rut, everything becomes normal, dull, unproductive, and yet difficult to change. This can lead to feelings of emptiness and boredom. This may not seem like a serious life problem, but it can have a great impact on your life.

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Solution

To overcome boredom and emptiness, break out of your routines, and deliberately create a new experience for yourself. If you can’t leave your job to find a new one, start doing other things that reflect your true passion. Sometimes, the things that give us the needed drive in life are not our day jobs.

8. Confusion

Confusion is described as a change in mental status in which a person is not able to think with their usual level of clarity.[1]. It is inherent in forgetfulness and lack of concentration.

It can be caused by different things including medical and environmental factors. It can also be due to the experience of a loss, a heartbreak, or abuse.

Solution

Don’t allow the situation to deteriorate into something more serious. Try to snap out of whatever experiences you have had that is causing confusion. Seek medical help if necessary or talk to a psychologist.

9. Friendship Problems

We need friends in our lives to rob minds and hang out together and even help us when we run into trouble. But many people have found themselves in serious trouble as a result of the company of friends they keep. They’ve experienced jealousy, backstabbing, and betrayal of trust. Some friends have even used the information freely provided in times of friendship to betray trust.

Solution

Don’t open up on everything to friends. Keep some information only to yourself. If you notice that a friend is working against you, confront them with the truth. Limit your interaction with them or get rid of such toxic friends completely.

10. Haunting Past

We all have pasts, and we might have done some crazy stuff in the past before we begin to live a more civilized and decent life. But sometimes, the past comes back haunting. It’s even worse when life problems of the past haunt you back and become problems of the present.

It may be that what you have done is now striking your conscience, keeping you awake at night. Or someone who knows about it is trying to use it against you, and it is standing in the way of your progress.

Solution

Be true to yourself and forgive yourself. If it is an issue with another person, you can reach out to the person to settle with them. If it is a secret that is now being leaked out, own up to it, take responsibility, and move on.

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11. Safety and Security

You may find yourself in an environment where there have been unexplained murder, gun violence, police brutality, insurgencies, and other life-threatening situations. This can make you feel like you might be the next victim. What should you do in this situation?

Solution

Ensure that you watch where you go and keep your home secure. You can also get involved in a neighborhood community watch to collectively find solutions to the threat. If the situation persists, you can move to a more secure location.

12. Failure

Failure can bring disappointment and can also slow the pace of progress. But failure is also part of life, and we have to learn to deal with it. But what do you do when an experience of failure weighs you down?

Solution

You can read a book or biography to get inspired by other people’s success stories.

13. Grief

No one loves to grief but we can’t totally shield ourselves from it. The loss of a loved one is painful and, if not properly handled, can lead to an emotional breakdown.

Solution

Take your time to express emotions. You can also pen an emotional tribute to the individual. Writing can help us bring out the feelings that cannot be expressed otherwise, and it helps us breathe a sigh of relief.

You can also cope with your grief by helping them to realize some of their unfulfilled dreams or do something in their honor. Lastly, while you think about your loss, you will still have to move on, accepting the fact that life is transient.

The Bottom Line

Problems are what make life worth living. They help us adapt to become tougher as we adapt to different situations. Always remember that whatever problem you are facing has a solution or, at least, a manageable approach.

Therefore, never allow your challenges to stop you from fulfilling your true potentials in life.

More Tips to Help You Get Unstuck

Featured photo credit: Danka & Peter via unsplash.com

Reference

[1] Medicinet: Confusion: Symptoms & Signs

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