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10 Successful Entrepreneurs Stories About Getting Through Tough Times

10 Successful Entrepreneurs Stories About Getting Through Tough Times

We all face challenges, regardless of what field we choose to operate in. In our little way, we have developed mechanisms to help us fight them. And while these tactics might not necessarily be the same, we all have stories about how they’ve worked for us — and in some cases, how they’ve not worked.

So, to help keep you in check, here are 10 successful entrepreneurs stories which are also some intense challenges that all businesses face. You will also find expert advice from professionals concerning how they they deal with these challenges.

1. Jeff Brodsly: Working Through Tight Finances

    How do you keep yourself and your business engaged when you don’t have sufficient funds to continue operating?

    Finances are the engine which drives your business, and a lack of sufficient funds is especially dire when you have an innovation or a means to, and you have just so many developments that need to be made before your product can launch.

    Still, there’s no cash.

    It’s a problem that Jeff Brodsly, Co-Owner of Elite Merchant Solutions, is all too familiar with. The company set out to provide merchant account setup services across the country, and things didn’t always start so rosy. However, his solution always comes in the form of compartmentalizing.

    He said,

    “Compartmentalize… when budgets got real lean, I compartmentalized the immediate pain of a tight budget and kept the long term goal in mind.”

    2. Doug Burgoyne: Work-Related Stress

      When the stress of the business gets excessive, how do you keep yourself form capitulating?

      You can’t have a business without necessarily going through some stressful times. These periods make you question your motives for even owning the business, and they could cause you to begin doubting whether you truly can pull through.

      However, it is important for you to keep your eyes focused on the vision of your business and where you see yourself going to. You built a vision for your business at the onset, and you have status or situation or place where you see yourself. Never lose sight of that, as it is what will give you the drive to keep going.

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      Doug Burgoyne, President of Frogbox said,

      “My philosophy on managing my attitude when things are stressful focuses around four things: Mission, Vision, Values and a Realistic view of the financial situation.”

      3. Retha Sandler: Feeling Stuck In Business

        Is there any way to work around multiple commitments?

        Time and task management are two things that you will need to develop as a business owner. Managing multiple tasks over a short period of time will come to be an invaluable skill as you move on down the timeline of your business, and you need to understand how to merge both.

        However, it is also important for you to understand which tasks take priority and which might affect the mold you’re looking to build. These should be given your attention.

        Retha Sandler, President of Blamtastic said,

        “I make 100 decisions a day, 99 of which I don’t want to think about. The little things cannot be ignored and take up a big portion of your time as a business owner, but keeping the big picture in focus is vital to survival.”

        4. Loredo Rucchin: Handling Online Staffing Problems

          In a world where things move rapidly, what are the basics that my business needs?

          In most times, it becomes impossible for you to scale through certain challenges on your own. That’s why you’ve got employees and a team of people working on a project with you.

          So, make sure that you hire the right crop of people to help you scale these challenges, and you can be secure in the fact that they’ve got your back as well.

          Loredo Rucchin, CEO of JukeBoxPrint, said,

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          “As you grow, your challenges will change dramatically. If you are operating your business mostly or even partially online, you need a good IT team (yes, you need to hire multiple people) to keep your website stable, secure and operating smoothly.”

          5. Adam Anthony: Obstacle To Your Position

            As the head of a business or company, how do you tackle people or situations that threaten your authority?

            Hostile takeover attempts are common. How do you navigate them?

            The issue of holding your own when challenges come is an important one, because at the end of the day, it is what will determine your mettle as a leader and whether you truly have what it takes.

            Well, instead of cowering out, develop a mindset that enjoys these challenges.

            Adam Anthony, CEO of Creo Care, said,

            “To maintain a healthy perspective we take inventory of the great attributes of our company… Instead of cringing at challenges, we try to savor them… and reflect upon past triumphs.”

            6. Mohan Varkey: Difficult Media And Public Perception

              When change does come, it is important for you to be ready. You might have to pivot, but keep in mind that your core business practices don’t necessarily need to switch as well.

              You’re who you are, and sticking to that can help you keep your identity as you pivot.

              How do you handle people seeing you in a difficult light?

              Be a friend and keep the consistency up.

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              The public is your major market, and it is important that these people see you as a friend who is willing to help out. That’s the only way they will be guaranteed to patronize you

              Also, as Mohan Varkey CEO, of Zebra Blinds once said,

              Keep in mind that consistency is key. You don’t necessarily have to stick to the same old thing, but ensure that you’re consistently good at one thing to keep your business running.

              7. Dave DuPont: Handling Unplanned Change

                When an unanticipated dynamic is thrown into the mix, what is the best approach?

                Change is an issue that some businesses never see coming. It could be a switch in the market or an innovation that threatens to make what you do obsolete.

                It is also important for you to know- especially in your early days- that there is always an opportunity or a potential for you to pivot. Some businesses end up flipping their blueprint and moving into a model that wasn’t there from the start. If it’s essential to your business survival, then “zag” your perspective.

                Dave DuPont, CEO of Teamsnap said,

                “Perspective allows me to know that just about any successful business does not follow the plan it starts out with… Groupon [for example] was originally a cause-based message board. Call it adjusting or pivoting, whatever. I call it ‘zagging.'”

                8. Ellen Rohr: Getting Ready For A Shake-Up

                  When change comes, how do you deal with it, especially if it has the potential to make my company obsolete?

                  A way to ensure that you’re ready for the inevitable change is seeping a holistic view of things. The problem that a lot of business heads and owners make is never keeping a view on the various things that could drive their businesses, and it ends up coming back to haunt them.

                  Being a leader is understanding the facts and knowing how your business progresses along a certain curve. Be in the know.

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                  Ellen Rohr, public speaker and president of Ellen Rohr ZOOM DRAIN – Zoom Franchise Company said,

                  “Once a week, I review my business plan, review our top projects list, look through the marketing calendar and the financials. I believe you plan or get planned for.”

                  9. Christian T. Russell: Defying Existential Crises

                    If you’ve had a business for a long time, then you’ll understand what it means to have an existential business crisis. Essentially, it is a challenge that is so significant, and it makes you wonder why you built your business in the first place and whether you truly have what it takes to pull through

                    When these times come, the solution is to remain resolute in the fact that you understand your purpose for being here. Challenges will come, but that conviction in your identity will keep you standing.

                    Christian T. Russell, President of Dangerous TACTICS, said,

                    “You HAVE to know your purpose for running your company in the first place! Why does your business exist? Who do you serve? What do they need most from you, right now? 99% of business owners do not take the time for this introspection.”

                    10. J.T. O’Donnell: Getting A Challenge For Control Of Your Business

                      There is always a chance of people looking to believe that they’re more essential to your business than you are. You get threats over what you can and can’t do, and it could even seem that people might want to hamstring you at some points in time.

                      So assure yourself of your purpose here.

                      Challenges could be internal (within the company) or external (from outside sources it could be competitors, customers, or contractors). When these happen, keep in mind that you own the business and there’s a place you’re going to. This will fuel you to deal with any such conflict.

                      J.T. O’Donnell, President of advocacy and career consulting firm, Work It Daily said,

                      “I remind myself that nobody is making me do this. I chose to build a company… I can stop if I want. This always reminds me that I’d be miserable doing anything else.”

                      Final Thoughts

                      Challenges are a part of every business journey, and you need to be ready to tackle them. Using any of these tips from bonafide entrepreneurs, you can easily get things done and reach a stage where challenger are unable to surmount you anymore.

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                      Featured photo credit: Austin Distel via unsplash.com

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                      Tanvir Zafar

                      The founder of ISU Technologies, passionate in writing about productivity, creativity, entrepreneurship, work and technology.

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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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