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Opportunity Overload

Opportunity Overload

    You’re not alone if at the end of each day you feel like you didn’t accomplish enough. And it’s no wonder. Everywhere we turn we see and hear messages about ways we could be making more money, how to be a one minute manager, businesses we could start, technology that could make our lives easier, 1001 places you should visit before you die, cars & trucks that you should buy, relaxation techniques you should try, and on and on. We’ve got opportunity overload.

    There are so many opportunities to improve our lives, careers, relationships, etc., yet we have only a limited amount of time each day. How can we take advantage of some of these, and still enjoy our lives? How can we find the best and leave the rest?

    Top Down Approach

    Most of us are using a Top Down approach to life improvements. In this approach we sort of browse the universe of ideas that are out there, picking and choosing what looks interesting at the moment. The problem with this is we may be spending our time on things that are not really a top priority, thus crowding out the time we need for more important improvements. It’s like going browsing in the mall with your rent money. You buy some new boots and suddenly you don’t have enough money to pay the rent. We have to look at our time as just as valuable, even more so, than money.

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    Why do we use the Top Down approach? Simple. Because it’s much easier to browse than it is to analyze our needs and seek out the opportunities that will be most meaningful to us. But we pay the price of wasting our time and suffering unnecessary anxiety over missed opportunities.

    Better Approach: Bottom Up

    The better way to handle all the opportunities available is to approach it from the bottom up. That is with you at the bottom looking up at all the opportunities. Your goals become the filter. Think of it more like a decision tree. With the bottom up approach you start with the trunk (your goals) and then seek out only those branches (opportunities) that are important to you.

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    How to Use the Bottom Up Approach

    1. Review your life goals. What are you trying to accomplish in your career, relationships, finances, and life in general? Which goals are most important to you right now? These should guide your search for opportunities.

    2. Turn off daily input that is not targeted to your needs. For example you might stop watching the news and instead just read the highlights in a weekly magazine, such as The Week. Or you might turn off the TV altogether. Most people watch TV in the evening because they are too tired to do work on any of their goals. If you fall into this group, you might consider shutting off the TV, do some light reading instead and go to sleep earlier than usual. This way you can get up earlier than usual and work on one of your goals before work instead of watching mindless TV night after night and not making any headway on your goals.

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    3. Limit or stop random web browsing. Random inputs into our lives are good for creative sparks, but most of us get way more than we need and the creativity factor is far outweighed by the overload factor.

    4. Seek out targeted web inputs. Use Google search or Google Alerts to find opportunities that align with your goals. Subscribe to RSS feeds of sites that consistently have content that is aligned with your goals. Cut out RSS feeds that don’t add real value to your life.

    5. Be more targeted in your reading. Cut out magazines that you can’t keep up with. Cut out magazines that don’t align well with your interests or goals. If you read the newspaper, consider reading just certain sections that pertain to your goals or interests. Or you may want to just read the Sunday paper for the weekly recap. Again, there, limit the number of sections that you read. If it is a high priority goal to leisurely read the Sunday paper all morning, then definitely do that. If your goal is that you want to go places or do things on Sunday, then try limiting.

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    6. Capture the best ideas. When you do find opportunities that are a match with your goals, then write down those ideas in a notebook where you keep all your ideas.

    7. Review the ideas you write down at least weekly. If you haven’t already taken action on them, decide which ones are most important to you and set your first action step to take.

    8. At the end of the day take a few moments to review your day either mentally with eyes closed or through journaling. What did you accomplish? Did you make progress on your top priorities? Are you satisfied with that? What could you change tomorrow or going forward to improve? What was good about today? What are you grateful for? What will you do tomorrow?

    9. Be at peace with your day that has passed. Relax and rest for the evening so that you can face tomorrow with renewed energy!

    K. Stone is author of Life Learning Today, a blog about daily life improvement Should You Start Your Own Work at Home Business?, How to Stop Being “Busy” and Live Your Dream Life, How to Write a Book in 60 Days or Less, and How to Be a Great Salesperson.

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    Last Updated on October 18, 2018

    10 Key Characteristics of a Highly Successful Entrepreneur

    10 Key Characteristics of a Highly Successful Entrepreneur

    When it comes to starting your own business and pursuing your dream of becoming an entrepreneur, it can be advantageous to go all in and embrace the flexibility of finally quitting your day job.

    Keep in mind, though, that it takes a special kind of person to take the business world by storm: a person who has cultivated the key characteristics of entrepreneurial success.

    People with these characteristics are likely to succeed, whereas people without them have difficulty moving forward with even the most brilliant business ideas.

    These characteristics of an entrepreneur are so important that I’ve decided to cover all 10 of them in detail so that you can start your business with your best foot forward.

    1. Successful Entrepreneurs Practice Discipline

    Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

    To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

    Andrew Carnegie, one of the most financially successful Americans of all time, grew up working dull and difficult jobs in factories. Despite going to bed hungry some nights, he continued doing his best work. He was eventually hired by a railroad company and continued to move up the ladder until starting his own successful businesses. Carnegie is a fine example of an entrepreneur dedicated to discipline and hard work. He truly earned his dreams of prosperity and success.

    When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early.

    Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

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    2. Successful Entrepreneurs Keep Calm

    Things go wrong when you run your own business.

    Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

    Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

    Honestly, losing your calm is a quick path to becoming the kind of person who gives up in the face of adversity. Instead giving in to frustration, remember classic entrepreneur Benjamin Franklin.

    Franklin kept his calm as he experimented and tweaked his inventions again and again in pursuit of success. He didn’t give up during his many failures – he chose to innovate. You can choose innovation, too.

    If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

    3. Successful Entrepreneurs Pay Attention to Details

    Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

    As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

    Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

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    After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

    Skeptical about the importance of details? Look no further than Howard Schultz, who grew a small coffee shop called Starbucks into one of the most globally successful coffee businesses in the world through his extreme attention to detail.

    He is famous for taking all aspects of growing a business into account, paying attention not only to financially smart business decisions, but also focusing on socially responsible business decisions. Details can take you far.

    4. Successful Entrepreneurs Embrace Risks

    No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

    It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

    You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

    Embracing risks is essential for growth and additional success, as well. Walt Disney, for example, could have stayed comfortable with his advances in the film and animation industries, but decided to expand his brand with a new dream: a theme park that soared above the competition. Without taking this risk, the incredibly successful Disney theme park empire would never have come about.

    An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

    5. Successful Entrepreneurs are Balanced

    You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

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    As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

    Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

    Oprah Winfrey, one of the most successful and influential entrepreneurs out there, understands the importance of balance. Winfrey has a lot going on; she runs her own media kingdom, acts, produces films, publishes print, and more. In an interview with Fast Company,[1] she talks about her efforts to balance priorities and self care, saying that she must ask herself what is truly important in each limited day.

    You may or may not have as much on your plate as Oprah, but learning how to balance whatever you have going on in life will certainly help you farther along down the road as you learn to be a great entrepreneur.

    6. Successful Entrepreneurs are Passionate and Motivated

    In order to develop any of the above characteristics, you must have a foundation of passion. Staying disciplined day after day during the building of your business takes unrivaled motivation.

    Before you start any business, ask yourself if you can sustain true excitement about your idea during even the darkest days ahead of you. If the answer is yes, then good for you! Nurture your natural motivation by taking these action steps throughout your business journey:

    • Commit to making short and long-term goals. Check in with them often to stay on task.
    • Have a plan in place for the inevitable days when you feel discouraged. Make a list of things that will help keep you motivated and focused.
    • Share your ideas with trusted individuals who are just as excited as you are. They will help keep your enthusiasm rolling even when you are feeling down.

    By being prepared for apathetic days and holding fast to your authentic passion, you can actually enjoy your journey to success.

    7. Successful Entrepreneurs Adapt

    Remember this one word: flexibility. Seasoned entrepreneurs know that change is not only a part of life, but also a part of the business world. Expect change and choose to adapt.

    As a new entrepreneur, it will be tempting to cling to your original business plan with no exceptions, even if you notice it isn’t working. Good entrepreneurs know that it’s okay to make smart, informed changes in order to ensure efficiency.

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    8. Successful Entrepreneurs are Marketing and Sales Experts

    No matter what kind of business you are starting, a knowledge of marketing and sales will save you many headaches. A passion for creating a beautiful handmade lifestyle product is not enough to run a successful lifestyle brand; it is critical that you understand key business principles in addition to your natural skills or great product line.

    Not sure how to start? Taking business courses is a great idea, but you can also easily brush up on sales and marketing through free online resources. Check out these 10 Sales Skills Everyone Should Master To Be Successful to begin now.

    9. Successful Entrepreneurs Have Strong Money Management

    Along with sales and marketing skills, money management is a very useful tool in the box of the entrepreneur. Understanding how to best manage your money can be the difference between early success and early failure in the business world.

    If money management isn’t your strongest skill, prepare to hire a financial expert to help you with any tricky business that comes up. Financial guidance and knowledge is never a bad idea.

    10. Successful Entrepreneurs Ask Questions and Continually Improve

    Pride is a natural human quality, but it’s important to humbly conduct some constructive criticism every now and again on both yourself as a leader and your new business as a whole.

    Assess how things are going and be willing to make positive changes if necessary. Here’re 15 ways to cultivate lifelong learning.

    If you are always improving, then how can you ultimately fail?

    The Bottom Line

    Let me remind you of one important fact: the qualities of an entrepreneur listed here are not exclusively available to some people and elusive to others.

    Although some people may have natural strengths and weaknesses, these qualities can be learned by anyone interested in taking up the entrepreneurial challenge. It might not be easy to change old habits, but it is absolutely possible to cultivate these characteristics in yourself.

    Whether you’re a business owner or an aspiring entrepreneur, with hard work, you can train yourself to develop the qualities that truly determine the entrepreneurial spirit and future success.

    Featured photo credit: Unsplash via unsplash.com

    Reference

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