Advertising
Advertising

15 Signs You Have What It Takes To Be A Real Successful Entrepreneur

15 Signs You Have What It Takes To Be A Real Successful Entrepreneur

Unemployment rates are diminishing and more jobs are available than there were in the past couple years, but it’s still one of the best times to become your own boss. If you’re thinking about opening your own business, go through this list and see if you have what it takes to become a successful entrepreneur.

1. You have a never-ending passion.

If you’re thinking about opening your own business, you obviously already have great passion. Whether you want to become a business consultant or open a bakery, you love what you do enough to want to do it for a living. Your passion means that you can not only work full time, but you can live and breathe whatever you choose to do without burning out.

2. You serve as a fountain of ideas.

Do you have one good idea for a business that keeps coming to mind? That’s not a bad start, but to be successful, it’s best if you have a nonstop flow of ideas. You need to be able to think up the basis for your business, a way to refresh your image after awhile, how to get your name out there and how to make sure what you’re doing is necessary for the community. The ideas should just keep coming to you, whether it happens naturally, while you’re sleeping or during a scheduled brainstorming session.

3. You’re not afraid to work really hard.

If you think owning your own business is fun, you’re wrong. It helps that you have the love and passion to make it fun, but it’s going to take a long time to get there. First you’re going to have to work really hard. You’re starting with nothing, building a business and a name for yourself. You not only have to think about your business name, identity, logo, storefront, products and website, but you also have to think about what you’ll charge to make a profit and the taxes you’ll have to pay. If you have what it takes to be a successful entrepreneur, none of that scares you because you’re willing to work really hard for what you want to achieve.

Advertising

4. You don’t like to give up.

You’ve made it this far, so you seem like you’re eager to stick with things. If you’re going to be a great business owner, you don’t like to give up, and it’s really hard to make you give up. You don’t get discouraged if there’s a lot to be done, or someone says something negative, or something doesn’t go the right way. In fact, obstacles like those make you work even harder!

4147951182_e8d45138a1_b

    5. You’re willing and able to learn from everyone.

    Entrepreneurs don’t ignore people who might not be in their field or have their best interests in mind. You have to be willing to listen to anyone, because you never know who might have good advice or inspire a great idea. You can’t write someone off because they don’t own a business or don’t seem successful, because you can learn lessons in the most random places.

    6. You’re a calculated risk-taker.

    Opening your own business is a huge risk in itself, but it’s just the first. You need to be ready to keep taking more risks in order to keep your business afloat. This means you have to be open to uncertainty, but also that you know what risks are worth it. You can’t put all your money into one venture and hope it succeeds and can fuel the rest of your business, because if it fails, you’re out. You can, however, put a great deal of money into something innovative to see if it works, because then you might be on the cutting edge of something new. If it fails, you’ll have lost some money and learned from the risk so you can appropriately further your business in the future.

    Advertising

    7. You can see the big picture.

    When you’re excited to open your own business, it’s easy to stop looking at the big picture because you’re ready to get started, and you naively think you’re going to succeed immediately. Successful entrepreneurs don’t get caught up in the excitement, and instead can see the big picture. They know there will be hard times but don’t get discouraged because they know ups and downs are part of the big picture.

    8. You keep up with the times.

    Business owners have to be on the cutting edge of technology, the community they’re in, marketing and more. For example, anyone selling their wares remotely, like from a food truck or at a crafts fair, will have the ability to run a credit card through their smartphone. If you’re not up on this type of technology, you could lose a lot of business by only accepting cash if you’re working remotely. Successful entrepreneurs know what’s going on that will help them push their business even the tiniest bit farther.

    9. You’re not afraid to ask for help.

    Just like listening to advice from a variety of people, successful business owners aren’t afraid to ask for help. Just because you’re branching out on your own and being in charge doesn’t mean you have to do it all alone. Ask for help from your family or your employees if you need it, whether it’s physical help or just emotional support. Ask fellow business owners for advice if you need a push to stay positive. The more connected you are with those around you, the more help you’ll find.

    10. You’re able to complete things.

    Business owners have to step up and complete everything that’s on their plates. You can’t only do the easy tasks, or the ones that can be done quickly. If certain projects seem too daunting, divide them into smaller tasks that seem more manageable. Tackle your To Do list and make sure you complete all that needs to be done, or else your business will suffer.

    Advertising

    11. You don’t procrastinate.

    When you’re your own boss, you can’t put things off. There’s no one higher up than you to take care of the important things, and no one below you to shove the boring tasks off on. You have to do it all yourself, and you have to be able to do it in a timely manner. The longer you put things off, the harder it is to do them; when you own your own business, this might make the difference between landing a major client and losing a job bid completely.

    12. You’re excited about what you do.

    Excitement is crucial when you’re your own boss, because you don’t have anyone else to motivate you. You need to keep yourself positive by constantly having a drive and desire to get up and work every day. As soon as your excitement starts to falter, your business will suffer because you’re not putting in enough love and effort to keep it afloat.

    13. You use your imagination.

    Business owners are innovative; they stay on top of their game and use their imaginations to brainstorm anything from business names and logos to marketing ideas and ways to reach out into the community and stay fresh. You can’t depend on hiring outside help to implement all of this – it’s your business, so you need to be the brains behind it! Your imagination runs nonstop and you never toss out an idea because it seems ridiculous; good entrepreneurs will give anything a try, because you never know what will work!

    14. You’re a social person.

    Being your own boss or working by yourself can seem like a lonely endeavor, but in reality you need to be a social person. Business owners have to network way more than people who are employees within a larger company. Entrepreneurs have to reach out into the community and see what is needed and what they can do to make their business important. They can’t just stay faceless behind a computer, they need to socialize with their customers and clients and have good people skills.

    Advertising

    15. You like to give back.

    Entrepreneurs can’t be selfish and successful — you have to give back! So many small businesses donate a portion of their profits to charity these days that it really sticks out when they don’t. Giving back doesn’t have to be limited to financial giving, though. Entrepreneurs who volunteer or give motivational speeches at schools are also giving people, and don’t mind donating their time and knowledge to such appointments.

    Do you fit these characteristics? If so, get out there and make it work!

    Featured photo credit: the UMF via flickr.com

    More by this author

    16 Productivity Secrets of Highly Successful People Revealed Why You Should Keep A Journal And How To Get Started 10 Incredible Benefits of Cuddling That Make You Want to Cuddle Now 15 Differences Between the Boy you Date and the Man you Marry 10 Signs That You’re Ready For Marriage

    Trending in Productivity

    1 How to Effectively Manage a Heavy Workload at Work 2 Better Alternatives to New Year’s Resolutions to Reduce Your Stress 3 How Personal Finance Software Helps You Get More Out of Your Money 4 7 Steps For Making a New Year’s Resolution and Keeping It 5 How to Concentrate and Train Your Brain to Focus Better

    Read Next

    Advertising
    Advertising
    Advertising

    Published on January 16, 2019

    How to Effectively Manage a Heavy Workload at Work

    How to Effectively Manage a Heavy Workload at Work

    We’re all busy, but sometimes we go through periods where the work piles up and it seems like it might never end.

    You might have such a heavy workload that it feels too intimidating to even start.

    You may have said yes to some or too many projects, and now you’re afraid you won’t be able to deliver.

    That’s when you need to take a step back, take a deep breath, and start looking at what’s working and what’s not working.

    Here’re 13 strategies you can use to get out from under your overwhelming workload:

    1. Acknowledge You Can’t Do It All

    Many of us have a tendency to think we can do more than we actually can. We take on more and more projects and responsibility and wear numerous hats.

    We all have the opportunity to have and take on more work than we can reasonably expect to get done. Unfortunately, our workload is not static. Even now, while you are reading this article, I’m guessing that your inbox is filling up with fresh new tasks.

    To make real, effective progress, you have to have both the courage and resourcefulness to say, “This is not working”. Acknowledge that you can’t do it all and look for better solutions.

    At any given time in your life, there are likely many things that aren’t going according to plan. You have to be willing to be honest with yourself and those around you about what’s not working for you, both personally and professionally.

    The more you exercise your ability to tell the truth about what’s working and what’s not working, the faster you’ll make progress.

    2. Focus on Your Unique Strengths

    Whether you’re an entrepreneur, a leader or working as part of a team, every individual has unique strengths they can bring to the table.

    The challenge is that many people end up doing things that they’re simply not very good at.

    In the pursuit of reaching your goals or delivering a project, people end up doing everything themselves or taking on things that don’t play to their unique strengths. This can result in frustration, overwhelm and overwork.

    It can mean projects taking a lot longer to complete because of knowledge gaps, or simply not utilizing the unique strengths of other people you work with.

    It is often not about how to complete this project more effectively but who can help deliver this project.

    Advertising

    So, what are your unique strengths that will ensure your workload is delivered more effectively? Here’re some questions to help you reflect:

    • Are you a great strategist?
    • Are you an effective planner?
    • Is Project Management your strength?
    • Is communication and bringing people together your strength?
    • Are you the ideas person?
    • Is Implementation your strength?

    Think about how you can bring the biggest value to your work and the projects you undertake.

    3. Use the Strengths of Your Team

    One of the simplest ways to manage your workload effectively is to free up your time so you bring your highest level of energy, focus and strengths to each project.

    Delegation or better teamwork is the solution.

    Everyone has unique strengths. It’s essential to think teamwork rather than working in isolation to ensure projects can be completed effectively. Besides, every time you give away a task or project that doesn’t play to your unique strengths, you open up an opportunity to do something you’re more talented at. This will empower both yourself and those around you.

    Rather than taking on all the responsibilities yourself, look at who you can work with to deliver the best results possible.

    4. Take Time for Planning

    “Give me six hours to chop down a tree and I will spend the first four sharpening the axe”. – Abraham Lincoln

    One hour of effective planning could save hours of time. Rather than just rushing in and getting started on projects, take the time to map everything in.

    You can take the time to think about:

    • What’s the purpose of the project?
    • How Important is it?
    • When does it need to be delivered by?
    • What is the best result and worst result for this project?
    • What are the KPIs?
    • What does the project plan and key milestones look like?
    • Who is working on this project?
    • What is everyone’s responsibilities?
    • What tolerances can I add in?
    • What are the review stages?
    • What are the challenges we may face and the solutions for these challenges?

    Having absolute clarity on the project, the project deliverables and the result you want can save a lot of time. It also gets you clear on the priorities and timelines, so you can block out the required amount of time to focus and concentrate.

    5. Focus on Priorities

    Not everything is a priority, although it can often feel, in the moment, that it is.

    Whatever you’re working on, there is always the Most Urgent, Important or Most Valuable projects or tasks.

    One tool you can use to maximize your productivity and focus on your biggest priorities is to use the Eisenhower Matrix. This strategic tool for taking action on the things that matter most is simple. You separate your actions based on four possibilities:

    1. Urgent and important (tasks you will do immediately).
    2. Important, but not urgent (tasks you will schedule to do later).
    3. Urgent, but not important (tasks you will delegate to someone else).
    4. Neither urgent nor important (tasks that you will eliminate).

    James Clear has a great description on how to use the Eisenhower Matrix: How to be More Productive By Using the Eisenhower Box

    Advertising

      The method I use with my coaching clients is to ask them to lay out their Top Five priorities for the day. Then to start with the most important priority first. At the end of the day, you review performance against these priorities.

      If you didn’t get everything accomplished, start the next day with your number one priority.

      If you are given additional task/projects during the day, then you will need to gauge their importance V the other priorities.

      6. Take Time Out

      To stay on top of a heavy workload, it’s important to take time out to rest and recuperate.

      If your energy levels are high and your mind and body is refreshed and alert, you are in more of a peak state to handle a heavy workload.

      Take time out of your day to go for a walk or get some exercise in. Leave early when possible and spend time with people who give you a lot of energy.

      In the background, it’s essential to get a good night’s sleep and eat healthily to sharpen the mind.

      Take a look at this article learn about The Importance of Scheduling Downtime.

      7. Maintain a Healthy Work-Life Balance

      Maintaining a healthy work-life balance can be tough. The balance we all crave is very different from one another.

      I’ve written before about 13 Work Life Balance Tips for a Happy and Productive Life. Working longer and harder doesn’t mean achieving more, especially if you have no time to spend with the people that matter most. The quality of who you are as a person, the relationships you have, the time you spend in work, deciding on what matters most is completely within your control.

      Work-life balance is about finding peace within yourself to be fully present, wherever you are, whether that be in the office or at home, right now. It’s about choosing what matters most and creating your own balanced life.

      If you feel there is not enough balance, then it may be time to make a change.

      8. Stop Multitasking

      Multi-tasking is a myth. Your brain simply can’t work effectively by doing more than one thing at a time—at least more than one thing that requires focused attention.

      So get your list of priorities (see earlier point), do the most important thing first, then move to the next item and work down your list.

      When you split your focus over a multitude of different areas, you can’t consistently deliver a high performance. You won’t be fully present on the one task or project at hand.

      Advertising

      If you allocate blocked time and create firm boundaries for specific activities and commitments, you won’t feel so overwhelmed or overworked with everything you have to do.

      9. Work in Blocks of Time

      To keep your energy up to produce your best results it’s essential to take regular breaks.

      I use the 60-60-30 method myself and teach it to my coaching clients.

      Work on a project for a sustained period of 50 minutes.

      Then take a 10-minute break. This could be taking a walk, having a healthy snack or just having a conversation with someone.

      Then continue to work on the project for a further 50 minutes.

      Then take another 10-minute break.

      Then take a complete 30-minute break to unplug from the work. This could be time for a proper lunch, a quick bit of exercise, reading or having a walk.

      By simply taking some time out, your energy levels stay up, the quality of your work improves and you reduce the risk of becoming burned out.

      10. Get Rid of Distractions

      Make an estimation on how many times you are distracted during an average working day. Now take that number and multiply it by 25. According to Gloria Mark in her study on The Cost of Interrupted Work, it takes us an average of 23 minutes and 15 seconds to return to the original task after interruption.[1]

      “Our research has shown that attention distraction can lead to higher stress, a bad mood and lower productivity.”

      Distractions don’t just take up your time during the distraction, they can derail your mental progress and focus for almost 25 minutes. So, if you are distracted 5 times per day, you could be losing almost 2 hours every day of productive work and almost 10 hours every week.

      If you have an important project to work on, find a space where you won’t be distracted, or try doing this.

      11. Commit Focused Time to Smaller Tasks

      You know sometimes, you need to simply tackle these tasks and take action on them. But there’s always something more pressing.

      Small tasks can often get in the way of your most important projects. They sit there on your daily To Do list but are often forgotten about because of more important priorities or because they hold no interest for you. But they take up mental energy. They clutter your mind.

      Advertising

      Commit to spending a specific period of time completing all the small tasks you have on your To Do list. It will give you peace of mind and the space to focus more on your bigger priorities.

      12. Take a Time Audit

      Do you know exactly where your time is going each day? Are you spending too long on certain projects and tasks to the detriment of bigger opportunities?

      Spend a bit of time to analyze where you are spending your time. This insight will amaze you and give you the clarity to start adjusting where you focus your time and on what projects.

      You can start by taking a piece of paper and creating three columns:

      Column A is Priority Work. Column B is Good Work. Column C is low value work or stuff.

      Each day, write down the project or task and the time spent on each. Allocate that time to one of the columns.

      At the end of the week, record the total time spent in each column.

      If you are spending far too much time on certain types of work, look to change things so your focused time is in Column B and C.

      13. Protect Your Confidence

      It is essential to protect our confidence to ensure we don’t get overwhelmed, stressed and lose belief.

      When you have confidence as a daily resource, you are in a better position to problem solve, learn quicker, respond to anything, adjust to anything, and achieve your biggest opportunities.

      Confidence gives you the ability to transform fear into focused and relaxed thinking, communication, and action. This is key to put your mind into a productive state.

      When confidence is high, you can clearly see the possibilities at hand and create strategies to take advantage of them, or to solve the challenges you face each day.

      Final Words

      A heavy workload can be tough to deal with and can cause stress, burnout and ongoing frustration.

      The key is to tackle it head on, rather than let it go on and compound the long-term effects. Hopefully, you can take action on at least one of these tips.

      If it gets too much, and negatively affects your physical and mental health, it may be time to talk to someone. Instead of dealing with it alone and staying unhappier, resentful and getting to a point where you simply can’t cope, you have to make a change for your own sanity.

      Featured photo credit: Hannah Wei via unsplash.com

      Reference

      Read Next