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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.

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    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.

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    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.

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    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.

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    Good luck!

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

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    Last Updated on August 20, 2018

    Quit Your Job If You Don’t Like It, No Matter What

    Quit Your Job If You Don’t Like It, No Matter What

    Do you know that feeling? The one where you have to wake up to go to your boring 9-5 job to work with the same boring colleagues who don’t appreciate what you do.

    I do, and that’s why I’ve decided to quit my job and follow my passion. This, however, requires a solid plan and some guts.

    The one who perseveres doesn’t always win. Sometimes life has more to offer when you quit your current job. Yes, I know. It’s overwhelming and scary.

    People who quit are often seen as ‘losers’. They say: “You should finish what you’ve started”.

    I know like no other that quitting your job can be very stressful. A dozen questions come up when you’re thinking about quitting your job, most starting with: What if?

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    “What if I don’t find a job I love and regret quitting my current job?”
    “What if I can’t find another job and I get in debt because I can’t pay my bills?”
    “What if my family and friends judge me and disapprove of the decisions I make?”
    “What if I quit my job to pursue my dream, but I fail?

    After all, if you admit to the truth of your surroundings, you’re forced to acknowledge that you’ve made a wrong decision by choosing your current job. But don’t forget that quitting certain things in life can be the path to your success!

    One of my favorite quotes by Henry Ford:

    If you always do what you’ve always done, you’ll always get what you’ve always got.

    Everything takes energy

    Everything you do in life takes energy. It takes energy to participate in your weekly activities. It takes energy to commute to work every day. It takes energy to organize your sister’s big wedding.

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    Each of the responsibilities we have take a little bit of our energy. We only have a certain amount of energy a day, so we have to spend it wisely.  Same goes for our time. The only things we can’t buy in this world are time and energy. Yes, you could buy an energy drink, but will it feel the same as eight hours of sleep? Will it be as healthy?

    The more stress there is in your life, the less focus you have. This will weaken your results.

    Find something that is worth doing

    Do you have to quit every time the going gets touch? Absolutely not! You should quit when you’ve put everything you’ve got into something, but don’t see a bright future in it.

    When you do something you love and that has purpose in your life, you should push through and give everything you have.

    I find star athletes very inspiring. They don’t quit till they step on that stage to receive their hard earned gold medal. From the start, they know how much work its going to take and what they have to sacrifice.

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    When you do something you’re really passionate about, you’re not in a downward spiral. Before you even start you can already see the finish line. The more focus you have for something, the faster you’ll reach the finish.

    It is definitely possible to spend your valuable time on something you love and earn money doing it. You just have to find out how — by doing enough research.

    Other excuses I often hear are:

    “But I have my wife and kids, who is going to pay the bills?”
    “I don’t have time for that, I’m too busy with… stuff” (Like watching TV for 2 hours every day.)
    “At least I get the same paycheck every month if I work for a boss.”
    “Quitting my job is too much risk with this crisis.”

    I understand those points. But if you’ve never tried it, you’ll never know how it could be. The fear of failure keeps people from stepping out of their comfort zone.

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    I’ve heard many people say, “I work to let my children make their dream come true”. I think they should rephrase that sentence to: “I pursue my dreams — to inspire and show my children anything is possible.” 

    Conclusion

    Think carefully about what you spend your time on. Don’t waste it on things that don’t brighten your future. Instead, search for opportunities. And come up with a solid plan before you take any impulsive actions.

    Only good things happen outside of your comfort zone.

    Do you dare to quit your job for more success in life?

    Featured photo credit: Unsplash via unsplash.com

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