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Feel like Giving Up? 16 Way to Help Entrepreneurs Stay Motivated

Feel like Giving Up? 16 Way to Help Entrepreneurs Stay Motivated

When you’re dreaming about becoming an entrepreneur and starting your own business, motivation never seems to be a problem. Once you launch that business and get your hands dirty, well, those long days of burning the midnight oil can really take their toll and suck your motivational reserves dry.

Staying motivated as an entrepreneur is easier said than done, but it’s without a doubt, essential for the success of your business. From its earliest beginnings and into the prosperous years of your business, staying motivated is what will continue to guide your business to success.

Finding motivation will not only help to fuel your own fire, but those who work with you as well. You’ll find that staying motivated as an entrepreneur will benefit you at work and in other areas of your life.

If you’re looking for a motivation boost, here are 16 ways to fuel the fire of your entrepreneurial spirit.

1. Recognize the small victories

Choosing to leave the corporate grind of working for somebody else and embark on a path as your own boss is in itself, a victory. It’s critical to your success that you learn to recognize and celebrate each of the little victories on your journey of entrepreneurship at every step.

Of course those big wins where trumpets seem to emerge out of nowhere and the clouds part just for you are awesome, but they don’t come often. It’s the small victories that drive success and ultimately lead to those huge champagne bottle-popping wins.

Maybe it’s simply getting the contact information of a potential new client or getting the internet set up at your office space. Taking time to not only recognize, but celebrate the small victories will help you to enjoy life as an entrepreneur that much more.

2. Bring your loved ones into your challenges

Former justice of the United States Supreme Court, Sandra Day O’Connor famously said that we don’t accomplish anything in this life alone, that everything is a tapestry of our relationships with others. Some of the best motivation you’ll get as an entrepreneur is going to come from your friends and family. Share with them your goals and the challenges you’re facing.

They’ll not only be there to share in each of your victories, but will be the ones to pick you up after suffering a defeat. Depending on their own background, they may even be able to offer some practical advice. Bring them into your life as an entrepreneur and allow them to help motivate and strengthen you.

3. Take advantage of the morning

What do Richard Branson and Elon Musk have in common? Besides being ridiculously innovative and wealthy, they make the most of their mornings.[1]

Numerous studies have shown that the first few hours after we wake up are the most productive for our brains. Rather than using that hour before heading to work to scroll your social media feeds, you could be harnessing your re-energized brain power to set you up for knocking out the day’s most important tasks.

Stephanie Kersta , co-founder of Hoame, a studio offering meditation classes, recommends using your morning to get in some mediation:

“Studies have shown that meditating for as little as 10 minutes per day can have profound impacts on the way our brain processes information, which leads to increased productivity. We know that habits we implement first thing in the morning tend to stick a little easier due to the sheer fact that there are naturally less interruptions.”

By taking advantage of the morning hours, you’ll be more motivated with the realization that you’ve done more before noon than many people do in a full day.

These 10 Morning Habits of Successful People are something you should start to learn.

4. Get a good night’s sleep

In order to take advantage of your brain’s morning boost, it’s necessary that you get a good night’s sleep. Waking up at 6am doesn’t do a lot of good if you need seven hours of sleep and didn’t roll into bed until 2am.

Everyone’s body is different, but most researchers tend to agree that eight hours of sleep is ideal. Not getting enough sleep will of course affect your mood, ability to focus, and overall health. It’s difficult to stay motivated on growing your business and reaching your entrepreneurial goals when you’re feeling groggy.

Get some shuteye, your business will thank you.

5. Establish a routine

After discussing the importance of sleep and taking advantage of the morning in regards to staying motivated, you can probably guess the overall theme — routine!

Establishing a solid routine will make all the difference in the world when it comes to your success as an entrepreneur. It will not only cut down on stress, but help to maximize your time and efficiency.

Consider developing a routine that hits these points:

  • Diet and exercise.
  • How to start and end your work day.
  • Carving out time for relaxation and reflection.

Here’s a good example of a morning routine:

Want to Feel More Energized Throughout the Day? Start With This

You’ll probably be surprised at how quickly after you settle into a productive daily routine that you start to chip away at any obstacles which may have been holding you back.

6. Track the money

If you want to have some real visual reminders to keep you motivated — and stay in business — then keep track of all the money going in and out of your company.

Set up those spreadsheets and track everything that you’re spending from the very first day.

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Not only will this help you to better manage money and ensure that it’s there when you need it for expenses, but you’ll be able to see how close you are to hitting different financial goals.

Earned financial success never just creeps up on somebody, it’s carefully planned out each and every single time.

7. Remind yourself of the WHY

Just like your little league coach told you, “keep your eye on the ball.” There was a reason why you decided to start down the road of entrepreneurship and launch a business and it’s important that you remind yourself that from time to time.

Call it whatever you want, the big picture or grand idea, looking back at how far you’ve come and where you’re going is a fantastic motivator.

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison.

8. Give yourself a personal reward

There are few things more gratifying and motivating than enjoying the spoils of victory that come with a job well done. It’s in our nature to react to incentives and taking time to reward our accomplishments is a healthy thing.

Maybe it’s hitting a new financial goal or reaching a breakthrough in a new technology you’re developing, but work without reward is a killer of motivation.

How do you celebrate? Buy a round of drinks for friends or coworkers? Hit up a sporting event or concert?

You don’t have to spend a lot of money, or any money at all if you don’t want to. The key is acknowledging an accomplishment with an incentive to keep you motivated to push onward.

9. Map your goals

Goals without a plan are just ideas. You know what your goal as an entrepreneur is, but you’ll need a mapped out business plan to make that goal a reality.

Every entrepreneur has goals they want to accomplish, the problem is that if we fail to put them down they’re more likely not to happen.

Mapping out your goals and writing them down with the steps of what and when you want to accomplish certain tasks, raises your chances for success by as much as 42 percent.

Whether it’s on your phone or a giant whiteboard in your office, you can look at those written goals whenever you need a motivational kick.

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10. Seek out inspiration

Everyone finds inspiration to help them stay focused, excited, and motivated from sources outside themselves.

For example, Olympic swimming gold medalist Michael Phelps would listen to Eminem to pump himself up before a race. For you, it might be watching Rocky Balboa’s jog through Philadelphia once a week or reading every piece of business and entrepreneurial literature you can get your hands on.

The point is that seeking out inspiration puts us in a positive mindset and having a good attitude is a key for staying motivated and pushing through the tough times.

11. Surround yourself with like-minded people

There are going to be haters and those with doubts about what you want to accomplish. Nobody ever did anything great though by surrounding themselves with short-sighted and negative people.

Surround yourself with likeminded people who also have a desire and drive for success. Find others who share your drive, for example:

  • Join an entrepreneurs book club.
  • Find a local meetup for people in your industry.
  • Seek out entrepreneurs and those in your field online.

In order to see your vision from an idea to a reality, you’re going to need cheerleaders who will root for you, celebrate your wins, and possibly even teach you. Go find them!

12. Create a mission statement

Developing a mission statement can be a fantastic way to stay motivated on what you’re doing and provide direction. It’s important to differentiate that while it certainly incorporates your WHY, it’s not the same as mapping out your goals.

The mission statement is more of a declaration about the impact you want to make.

A good mission statement should summarize your overall goals and values and whom you’re doing it all for. Once you’ve written your mission statement, you may want to consider framing it and putting it somewhere you’ll regularly see it for extra motivation.

Take these steps to write your own mission statement and help yourself stay motivated!

13. Learn from your heroes

The very first entrepreneur on the planet definitely had it rough because they didn’t have anybody else’s stories of success to leverage in their favor.

Fortunately for you, there are countless success stories out there that you can pull both motivation and wisdom from.

Read the biographies of your heroes and the people you look up to. Read the books they read. Watch online interviews with them. Do whatever you can to absorb their knowledge and the wisdom of those who taught them.

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Whatever challenge you might be facing, you’re probably not the first person to experience it. Look to what others before you have done.

14. Give yourself some personal time

Remember how the character of Jack Torrance in Stephen King’s novel The Shining went berserk and kept typing “all work and no play makes Jack a dull boy”? Well, as crazy as that character was, there’s some truth to that:

It’s important that you take at least a little bit of time to yourself each day to just stop and chill out.

Find something that you enjoy doing that allows you to decompress and not think about everything you plan to accomplish tomorrow. Whether it’s strumming a guitar, going to the batting cages, or just watching a movie, allow yourself some personal time outside of work.

15. Focus on the positive

There are certainly going to be days when things are not going right and it’s one thing after another. Being a successful entrepreneur is never easy, but it is incredibly rewarding.

Not everyone gets to try and do what they love for a living, but if you give it your all, then you can accomplish your goals.

Even when it seems like nothing is working, try to stop and find at least one thing that day or week that did go right. Channeling your energy towards the positive, rather than the negative will help motivate you to keep climbing that mountain.

16. Remember to have fun

Yes, have fun! That’s one of the reasons you started down this road of being an entrepreneur in the first place. You wanted to do something different than what you were doing and carve something out that was your vision and not somebody else’s.

It’s easy to start your business with excitement and have it become a point of stress, but don’t become that entrepreneur. Remind yourself why you started this journey and don’t be afraid to alter directions from time to time if needed.

Entrepreneurship is a lot like that old saying about life, it’s not about the destination, but the journey. So enjoy it!

Final thoughts

Remember that every entrepreneur is going to find different ways of staying motivated. It’s finding that motivation and focus, however, that every successful entrepreneur has in common.

If you want your business venture to thrive, then it’s important that you not only develop a clear vision of what that looks like, but seek out ways to stay positive and motivated in making it happen.

There may be moments of self-doubt, but remember that the key to success is within you. All you have to do is keep the fires of determination burning.

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Featured photo credit: Ellyot via unsplash.com

Reference

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Chris Porteous

The CEO of Grey Smoke Media / My SEO Sucks, helping entrepreneurs to grow their businesses.

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Last Updated on June 1, 2020

How to Start an Online Business That Will Grow and Succeed

How to Start an Online Business That Will Grow and Succeed

There are thousands of free guides available online on how to start an online business. However, the most valuable lesson they never discuss is that starting a new business online is probably going to fail.

Successful professionals that excel at some point with a venture never gave up, had a passion for creating a meaningful service or product idea, and never stopped trying.

Starting a business is a great opportunity for anyone with a passion to work on something you never get tired of. If people like coming to you for advice or to help them with work-related tasks, then you have the necessary skills and experience to start a business.

In addition, if you have a curiosity about services and products, maybe you have the capacity and capabilities to create something more innovative.

In the next section, we will comprehensively examine the core elements in starting a business. They will not necessarily catapult you to create Google, Facebook, or Apple, but they will guide you on how to start an online business.

1. Remember That the Likelihood of Your Business Failing Is High

Building a product or service is a process that takes a lot of time, so do not think that successful CEOs did it with the snap of their fingers.

According to the Small Business Association (SBA), only 30 percent of businesses will fail in the first two years and 50 percent will probably stay open in the first five years.[1] It is something to think about when launching your online business.

However, this does not mean you should be discouraged, and it’s actually a valuable lesson to fail since it will give you clues on what to do right the next time.

2. Focus on Your Audience and Targeted Niche Market

One of the most difficult things is figuring out who your customers are and tailoring your product or service for them. Depending on your available resources and the size of your network, the scale of your venture will be contingent on this. Knowing your targeted niche is important in knowing how to start an online business.

If you are launching a business, will you go the retail route or create an online store? Will your service satisfy the needs of a startup, small business, enterprise, or corporation? There is no right or wrong answer.

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Think about your audience and what the size of your customer base will be. Without knowing your customers, you cannot start a business.

3. Conduct a Lot of Research and Examine the Segment of Your Potential Market

Depending on the sort of business, you will have to do hours of research and ask a lot of questions. It helps a lot to look at specific companies or businesses to get an idea of how they started.

This may be a daunting task for some, and there are other avenues to explore to assist you with building a business. The web has tons of resources and you can check out Fundera’s list of 50 tools to help grow your business.[2]

In addition, you must tap into a reliable business networking list of people to guide you on how to start an online business.

4. Tap Into the Reach of Social Media and Expand Your Message

Gone are the days of paying expensive advertising budgets. Thanks to social channels like Twitter, YouTube, and Facebook, businesses can advertise for free. On the other hand, you can spend and create marketing campaigns on those different platforms.

Figure out which one is best suited to your needs and where that audience is active. When your online business has figured out where its message has the most impact and when your customers are responding to your message, then you know you are in the right place.

5. Network With Influencers and Brand Your Company on an Optimized Blog

Depending on the size of the organization and the number of employees, you may need to consider networking in the initial phases. If you want to know how to start an online business, then you should also learn how to network with influencers.

Social media is a valuable tool, and you can reach out to brand influencers depending on the line of products or services you wish to promote. Gone are the days of just putting an advertisement campaign and expecting a big return. Instead, you now have to create partnerships and blog about your branded efforts.

Make sure you have an optimized blog with search engine optimization (SEO) tools built-in, so you can focus on attracting customers and followers.

6. Create a Monetization Plan Tailored to Your Products and Services

Whether you are a startup, small business, enterprise, or a large company, you have to be strategic with your company efforts. Do you have an omni-channel strategy in place to attract clients and potential business?

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In other words, you must have the integration with your site and selected social media channels to generate revenue from products or services.

Believe it or not, not having a clear investment plan on how you will generate business is one factor often overlooked by starting businesses. The technology is there and depending on your institutional resources, you will have to look at a couple of vendors to see which one gets you the best value for your company.

7. Monitor Your Progress and Schedule Meetings Weekly

When your business is live online, you need to monitor progress. You must look at your data, key performance indicators (KPIs), and financials to see how your company is progressing over time.

This is a very different mindset when you are in a large company, but an average-sized online business has to do housekeeping procedures. The products or services advertised online are just one part of the equation.

Are you attracting customers? Are your interactions with clients translating to transactions or conversion?

These questions can only be answered by looking at your data and financial statements. When you can compare both, you will have an excellent understanding of the current state of affairs.

8. Once You Have Refined Your Online Product or Service, Officially Launch Your Business

Once you have more or less found the online product or service to serve customers, you are ready for prime time.

As long as your monetization plan lines up carefully with your investment, you can go live with your business. This can be in the form of an official announcement via your site, hosting a live event, or reaching out to media outlets to plug your company launch.

There is no right or wrong way to go about his process. But make sure that the state of the company propels you to launch the online service or product.

9. Once Your Business is Growing, Retain Customers and Attract New Ones

Having customers at the beginning is crucial for an online business. In fact, it is important for any business period.

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For the customers who have decided to adopt or buy your service, make sure you are delivering above and beyond customer service. They will not only continue to buy services, but they will also likely recommend your service to others. So, go the extra mile to thank them for their business.

If possible, develop perks programs and giveaways since customers enjoy the red carpet and celebrity treatment.

10. Use Social Media Networks Ethically and Steer Away From Shady Business Practices

It is tempting to use several social media platforms and buy fake followers. The problem is if the business is a lot bigger than it seems, it will come back to haunt you.

There is nothing more embarrassing or outright unprofessional than having thousands of followers who never interact with the posts you share. Unfortunately, social media has lost credibility when it comes to building fake followers and fake news. So, do not fall in the trap of trying to grow your brand artificially.

Aim for organic followers. This means having real customers following you and engaging your brand in authentic ways.

11. Continue Tracking the Results of the Business

Meetings are essential to tracking the state of affairs and the state of your staff. These meetings should also include tracking the performance as a result of your online business (product or service).

Are the results positive? Are they negative? Are they producing productive results?

Analytics is vital to understanding how the business is performing, so make sure you can get a snapshot of where you are at. Successful businesses cover their tracks and that includes looking at the bottom line performance of their product or service.

12. Utilize Search Engines to Attract Targeted Customers to Your Site

There are advertising systems and price tiers for the different social networks, but search engines like Google and Bing are still important.

Pay-per-click (PPC) advertising is offered in tiers through the Google search engine and Microsoft’s search engine Bing. This remains one of the simplest and most effective ways to generate traffic to a brand new site.

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As reported by Entrepreneur, the PPC offers two advantages. One advantage is that PPC ads show up on the search pages right away. The second one is it allows you as a business to test different keywords including headlines, prices, and selling approaches.[3]

13. Provide Expert Advice and Testimony Through Different Mediums

It can be challenging to get brand visibility when you are a brand business. However, if you have some significant knowledge and expertise in your company product or service, you should offer insight. This means you can publish a blog post with powerful visuals, an infographic, a webinar, a YouTube video, etc.

The idea is to plug your service but make it an interesting testimony that tells a story. It is not enough to tell the story of your product, but you have to connect with popular culture if possible.

Be creative and take risks because that may be the difference between success and failure.

14. An Online Business Cannot Succeed Without Effective Email Marketing Strategies

When you are compiling customer data, one of the most valuable pieces of information is a phone number and particularly an email address.

With an email, you can build an opt-in list. This list allows you to create newsletters or announcements to be sent to their inbox for exclusive offers.

You can set up a provider or a third party to analyze customer interactions with your email offers. What it will provide your business is cost opportunity and it is cheaper than print, TV, or radio.

Final Thoughts

After you have found your calling in building a product or service, start putting the building stones to create your service and product. It needs to solve a problem that no other business offers. If you are about solving problems, an online business is a right venture for you.

Launching an online business is a complicated undertaking, so do not expect instant results. Building a successful online business takes time, investing money, and developing a service that makes a profit.

Finally, make sure you have the available resources and a reliable team that will accompany you throughout your journey. They need to be loyal and have to bring something unique to your big idea.

Take risks and fail early because these experiences are the foundations for launching a successful company.

More Tips for Aspiring Entrepreneurs

Featured photo credit: Olu Eletu via unsplash.com

Reference

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