Advertising
Advertising

3 Essential Actions for the New Entrepreneur

3 Essential Actions for the New Entrepreneur

    I recently delivered a keynote at a conference on modern entrepreneurship. A new entrepreneur asked me, “What three things do you think I should do to start a successful business?”

    While there are a million pieces of advice to give to any budding entrepreneur starting with a laundry list of books to read and people to speak with, and ending with  getting used to eating ramen for a year or two, below are the three essential actions that any new entrepreneur will need to truly flourish.

    Doing one of these things will help you succeed. Doing all three will turbo-charge your new business and set you on the path to success.

    Advertising

    1. Burn your ships

    Imagine for a second that you are a warrior and that you have just sailed to enemy territory. Moments before you begin your attack your commander says, “before we attack we must burn our ships!”

    How would you feel?

    If you’re anything like me you would feel terrified. And motivated. Suddenly, the only way you would return home safely was through victory.

    As a new entrepreneur, if you really want to succeed, then burn your ships. Resolve yourself to succeeding and eliminate all possible alternatives. Do not contact your old boss to see if you can come back. Do not toy with the idea of going back to school if you’re not cash flow positive after 6 months. Do not take a part time job that will make ends meet to relieve pressure. Instead take a loan and let the fear motivate you.

    Advertising

    Commit to your own success by burning all of your ships.

    2. Get a mentor

    Now that you have burnt your ships, add an essential person to your team: a mentor. A good mentor will show you how to navigate failure and speed up your success.

    How do you get a mentor? Think about where you want to be 10-20 years from now. Find someone who is there right now in your city and email him or her. Ask if you can take them out for coffee, lunch, breakfast, or anything that would be convenient for them for 15 minutes.

    Once you setup the meeting spend 80% of the time listening. Contact them again a few months later giving them an update on your work and ask for another meeting. Continue repeating this process until you have developed a stable relationship.

    Advertising

    3. Stay playful

    It’s trendy to tell new entrepreneurs that life is easy if you’re passionate and committed to your success. Unfortunately, I don’t think that’s true. While entrepreneurship is incredibly rewarding, it’s also an uphill battle for the first year or so.

    The trick to surviving the turbulent start-up phase of business is to ensure that your life outside of your business is still playful and fun. Make sure that each week has at least one personal activity that you are truly looking forward to. This will revitalize you and give you more energy to channel into your startup.

    Besides, life is too short not to have fun along the way.

    Starting up is tough. In fact, most businesses bust before they ever even have the chance to become successful. Leverage the odds in your favor by burning your ships, getting a great mentor, and staying playful along the way.

    Advertising

    Good luck!

    (Photo credit: lamp head male writing something via Shutterstock)

    More by this author

    3 Essential Actions for the New Entrepreneur The Only 2 Tricks You Need for Maximum Productivity How to Feel Like You’re Running on Rocket Fuel

    Trending in Work

    1 8 Life-Changing Skills You Can Learn in Less Than 6 Months 2 5 Types of Leadership Styles (And Which Is Best for You) 3 15 Best Entrepreneurs Books to Start Reading Now to Be Successful 4 17 Best Careers Worth Going Back to School for at 40 5 Top 10 Ways to Lead More Effectively with Humor

    Read Next

    Advertising
    Advertising
    Advertising

    Last Updated on June 19, 2019

    8 Life-Changing Skills You Can Learn in Less Than 6 Months

    8 Life-Changing Skills You Can Learn in Less Than 6 Months

    Everyone has the ability to learn a life-changing skill not just this year, but in the next 6 months.

    By life-changing, I mean something that can have a positive impact in your life moving forward, even if it’s something you can’t envision today. Certain skills we can immediately reap the benefits of, while others will be life-changing when we least expect it.

    In this article, we’ll share 8 life-changing skills you can learn in 6 months, where you can learn them, and how you can get started today.

    1. Speed reading

    Bill Gates has been known to state that if he had one superpower, it would be the ability to read faster. What Bill and the rest of the mega-successful understand is that knowledge is power. The ability to process information faster from books, articles, and reports is what will help us learn faster, and therefore improve each aspect of our life faster as well.

    Where you can start learning: Speed reading courses are becoming more popular, as more people realize how important it is with the limited time we have. You can check out free courses like Read Speeder or you can start learning how to use Spritzlet, which allows you to speed read articles online with a browser extension.

    2. Public speaking

    Research shows that people fear public speaking more than death itself. There’s something terrifying about being in front of dozens or hundreds of people, and exposing yourself completely. It’s when you’re most vulnerable, but learning how to public speak is a life-changer.

    Advertising

    Warren Buffett has given advice to recent graduates that the number one skill you can have to succeed is public speaking skills. Everything from communication, confidence, and sales is developed when you develop your public speaking skills.

    Where you can start learning: Luckily, there are great communities out there like Toastmasters that organize local meetups all around the world. You’ll find amazing public speakers that are looking to get to the next level to beginners that are just getting started. Check out Toastmasters’ website here.

    3. Spanish

    As the third most spoken language in the world, the ability to speak Spanish will allow you to reach over 500M people around the world. No matter where you live, knowing how to speak Spanish is becoming increasingly more important, with the Hispanic population and economy spreading quickly worldwide. If you’re living in the US, this is even more important, with over 30% of the population being Hispanic.

    Spanish is also on this list, because it’s one of the easiest languages to learn. Sure, Mandarin is an important language to learn, but it’s an incredibly difficult one to learn. If we were to measure the level of importance and the time to learn for all the languages available, Spanish would make it to the top of the list.

    One of the biggest reasons why people never reach fluency in any foreign language is: using the wrong method, and lack of time.

    It turns out that humans retain only 5% of what we learn from lectures, 20% of what we learn from apps (visual cues), and 90% of what we learn from immediate immersion. Yet, how do 90% of learn a new foreign language? Language schools (lectures), books, Duolingo (apps), etc that don’t provide the real-life immersion required for our brains to learn faster.

    Advertising

    Where to get started: If you want the most effective way to learn a language, learning from real-life interactions is the best way to do it. There are great websites like Rype, which offers Spanish coaching for busy people, solving the issue of lack of time and bringing real-life immersion to your screen. With Rype, you can book as many lessons as you want, at any time of the day, any day of the week, allowing you to fit it into your schedule, no matter how busy you are.

    4. Accounting

    If you’re looking to get into business, accounting is one of the core fundamentals you’ll need to succeed. While you don’t need to be an expert, you definitely should understand the basics.

    This skill can also be used to manage your personal finances, to meet your financial goals, and having more control over your life.

    Where to get started learning: If you didn’t learn accounting in school, no worries. You can either teach yourself using books, or check out free accounting courses online.

    5. Microsoft Excel

    Most people reading this probably have a basic understanding of Microsoft Excel Spreadsheet. While this is a good start, there are so many powerful functionalities that are hidden, which could make your life a lot easier.

    Excel is also a great asset to have whenever you’re looking for a job, as many corporations rely on Excel to organize and manage multiple parts of the business.

    Advertising

    Where to get started learning: With the popularity of Excel, you can find tons of free resources and videos online to learn. Check out Excel Exposure, Lynda, and Excel with Business.

    6. Blogging/Vlogging

    Blogging is a powerful tool if you want to spread your ideas, build your brand, or grow your business. Since it was introduced, blogging has taken on a life of its own, and today there are ~2M blog posts being written on a daily basis.

    Where to get started learning: Anyone can start blogging today. All you need is a content-management system like WordPress, which is completely free. Personally, I think the best way to start learning how to blog is to just start writing. There are techniques you can learn on how to promote your blog, but the best way to grow your blog is to write great content.

    7. Weight training

    Yes, weight training is a skill. It’s not as advanced as learning how to code, nor will it take as long as learning a new language, if you just want to learn the basics.

    We’re not promising that you’ll get a body like Arnold Schwarzenegger, but you will see much faster results for whatever goal you have, just by understanding how to workout properly. And of course, when you’re dealing with an activity that involves physical strain, you’ll always want to caution yourself.

    Where to get started learning: There are amazing body builders that are sharing all of their secrets for free on Youtube. You can check out Bodybuilding.com’s Youtube channel to get started.

    Advertising

    8. Photo and video editing

    In the digital world that we live in, from Youtube, Instagram, and Facebook, there is no avoiding photos and videos. In fact, social media has increasingly gone away from text sharing and almost everything to photo and video editing.

    Where to get started learning: For photo editing, you can use Photoshop. For video editing, you can use iMovie or Final Cut Pro. Keep in mind, there are dozens of editing software tools for video and photo editing, but what’s more important are your editing skills, not the tool itself.

    Check out education websites like CreativeLIVE or Skillshare, where you can learn from experts themselves on how to best use design and software tools.

    photoshop_3d_lights1

      Read Next