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30 Things Only Entrepreneurs Would Understand

30 Things Only Entrepreneurs Would Understand

Actually taking those steps to starting your own business is far different than just saying you want to be a business owner. Not everyone can do it, there are extreme highs and lows that you’ll experience and there are certain things that only entrepreneurs can understand.

1. You are always thinking about work. Even on holiday

You are so passionate about your business that you’ll never switch off. Every sign you walk past, every conversation you hold there’ll be an idea buzzing around your head.

2. You understand that there is no reward without risk

Leaving behind a steady job to pursue life as an entrepreneur is a risk in itself and you understand that you’ll have to take more risks along the way to experience the considerable rewards.

3. You feel that people are always there to second guess your success

No matter how successful you are there will always be people who second guess your success and try to pull you down.

4. You understand that your loved ones share the load

The life of an entrepreneur is unpredictable and comes with a certain amount of stress. Your loved ones share these feelings and experience the same ups and downs as you.

5. You understand that you have to become a leader

Whether to lead yourself, employees or suppliers, you understand that you need to become a strong leader. The way to achieve this is through effective leadership development.

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6. You’ll constantly be faced with people who just don’t get you

Entrepreneurs are unique. Our drive and determination isn’t something people will always understand.

7. You will never find it easy to fire someone

You understand more than anyone how important a regular income is. This is why you’ll never find it easy to fire someone, even if they deserve it!

8. You think that nothing ever happens fast enough

You want things done now and it can feel like suppliers and employees are just slowing you down.

9. You hate tax time

You never want to have to pay tax and getting your books in order is an unwanted task.

10. You will grow to love your accountant

You want to spend as little time on paperwork as possible and your accountant will help.

11. You are involved in every area of the business

You are the sales, marketing, finance and operations teams all rolled into one.

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12. You know when a risk is worth taking

It can be scary but you know that a calculated risk could result in immense reward.

13. You are never ill enough not to work

Time is money and you don’t have time to be sick and take time off.

14. You will always think of wacky ways to motivate staff

A happy workforce is a productive workforce and you’ll work you hardest to motivate your staff.

15. You sometimes question your life

When things are tough you’ll think about going back to employment. 10 minutes later you’ll be an entrepreneur again.

16. You don’t have regular working hours

What’s a 9 to 5?

17. You always want to move onto the next big thing

Ideas are constantly flowing through your mind and you want to put them into practice ASAP.

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18. You accept that some ideas are crazy

You’ll have 99 crazy ideas but understand that just one needs to be perfect.

19. You don’t do later. You want things done now!

Why would you put things off until later? You can wake up a little earlier and get extra work done now.

20. You constantly write down ideas

Whether it’s on an iPad or the napkin in a restaurant. If you have an idea you are going to make a note of it.

21. You never stop being an entrepreneur

Wherever you go, somehow you think about work.

22. You constantly promote yourself

Every new person you meet is a potential business contact and you’ll take advantage of that.

23. You never have enough money

Even if you are making millions, you’ll never have enough funding. Your next idea is always bigger than the last.

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24. Your personal social media accounts are packed full of business stuff

You are so proud of your achievements that you’ll turn to social media to keep everyone informed.

25. You don’t fear failure

Failures just brings you closer to success and you are never afraid to fail. It’s the inner drive and sheer determination that sees you through and those are attributes that never leave.

26. You have no greater feeling than success

The chance to succeed and make something of yourself is what gets you out of bed in the morning. Furthermore, you visualise what you could become in the short/long term therefore that encourages you to accomplish great things.

27. You feel like you can conquer the world

When you achieve something you feel like you can do anything and that next achievement will always be bigger. The ambition is what focuses you and it’s the constant target that ensures you progress in your project and strive toward success.

28. You can struggle with love

Work will always come first and some people don’t get that, which can make it hard to find love. Prioritization can hurt other factors in your life – but if you don’t prioritize then you’re not disciplined enough to succeed as an entrepreneur.

29. You are restless

You don’t sleep as much as you used to and if you take a few days away from work you are itching to get back. With the constant focus on success it’s very hard to switch off from work. Taking your work back home is also not an unusual thing for entrepreneurs.

30. You are determined

Entrepreneurs have something in their blood and even when times are tough, they wouldn’t be defeated.

Featured photo credit: Dollar Photo Club via dpc2.ftcdn.net

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Last Updated on December 5, 2018

How to Lead a Team More Effectively and Be a True Leader at Work

How to Lead a Team More Effectively and Be a True Leader at Work

Being an efficient manager and a charismatic boss at the same time can seem like an impossible task. Is there a way to deliver the desired results for your business while remaining liked and respected by your staff?

We all know bad examples of team leaders who seem to fail at one aspect or the other, or even at both. But we’ve also heard of awesome managers who seem to juggle both things well enough.

How do they do it?

By sticking to few proven ways that let them maintain a positive karma score while remaining efficient. In this article, we’ll guide you through 11 smart management tips on how to lead a team and become something more than a boss – a leader.

1. Find a Management Strategy and Stick to It

There’s nothing worse than a boss that keeps changing his or her opinions and assignments depending on their mood or a book they read this week. Chaotic decisions increase the insecurity and frustration of your team, so you better find your strategy and stick to it.

If you do find some new methods you want your staff to follow, make sure they don’t contradict the general direction you are taking. Otherwise, you risk making your team take one step forward and two steps back.

2. Set Goals​ and Track Progress in Reaching Them

Set individual and collective goals​ for your team and track the progress in reaching them. This might sound obvious at first, but too often we find ourselves stuck between daily customer requests and monthly reports, and the bigger goal or vision seems to fade away.

According to Elon Musk (and many other successful CEOs around the Globe), it’s crucial to have a clear and motivating aim to where the company is heading. His aim for the space transportation company SpaceX is “to make humankind a multi-planetary species”.[1] That’s a huge goal but the company is slowly moving closer to it by reaching smaller steps and milestones, like launching self-landing rockets. This is also a very inspiring and meaningful goal that helps employees endure the company’s extremely high expectations and 60 to 70-hour work weeks.[2]

Even if your goals are not as grand, setting and reaching milestones will give you a clear insight into the team’s overall efficiency and daily progress. With time, you will be able to see the weak spots and improve your results.​

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3. Demand Learning from Your Team

CEO of print on demand startup Printful, Davis Siksnans, believes that:[3]

“The key for a company going through rapid growth is to empower your employees’ self-development.”

His company with 500 employees spanning two continents demands a culture of learning and provides all the tools necessary to do it.

Their idea is –  as the company scales, people have to grow in their positions too, which means that they have to be constantly learning. Siksnans says:

“We try to hire people for what they might become, but they need to have that drive.“

Alternatively, you can provide educational courses for your employees or invite informal lecturers to educate and inspire your team. You can also encourage peer-to-peer learning by asking employees to teach their particular experience or skill to co-workers.

4. Invest in a Pleasant Work Environment

Studies show that a well-designed office environment can increase your team’s overall performance by as much as 20%. You’ll be surprised to see that even very small interior tweaks that don’t require major investments can improve your workers’ performance.

Some ideas for a more productive and pleasing work environment:

  • Invest in modern furniture – offer ergonomic chairs, standing desks, and individually arranged workplaces​.
  • Start an in-house library – reading for pleasure just 30 minutes a day is proven to be enough to become more effective at work,[4] improve focus, and deal with problems like depression and anxiety.​
  • Play jazzy office music – rhythmic background music will help workers feel more energetic and enthusiastic while doing everyday tasks.​
  • Set up entertainment or break rooms – being able to relax and have fun at work creates a strong commitment, helps employees relax and clear their minds, and boosts productivity.​
  • Bring in uplifting office decor – it’s been found that art in the workplace can boost productivity,[5] lower stress, and even encourage employees to innovate.​
  • Decorate the office with live plants for freshness and a welcoming feel. Furthermore, plants are found to ensure better air quality and increase workers’ productivity by 15%.[6]

5. Be Kind and Sincere to Your Team

Did you know that 50% of employees quit because they dislike working with their manager?[7] In fact, most times when people leave their jobs they actually leave their managers. Being friendly and sincere may not be enough to be a successful manager, but it’s a big part of it.

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Some ways to show you appreciate and care for your staff:

  • Celebrate the progress and achievements of your employees. And don’t be shy to simply say thanks.​
  • Talk to your employees regularly and really listen to what they have to say. Address their concerns, help them reach their goals and do your best to improve their work and daily life.
  • If you’re having a bad day, don’t pour out your stress and anger on the staff. Instead, try to recharge yourself by appreciating the achievements of your team and setting the next goals.
  • Try not to overload your team with work. Every company has rush periods when it’s okay to have more work than usual. But remember that people cannot work under prolonged pressure and stress.
  • Don’t be selfish – it can be very demotivating to see that the manager only focuses on what you can do for him and doesn’t care about your goals and well-being.​ As the CEO of Xerox Anne M. Mulcahy put it,[8]

    “Employees who believe that management is concerned about them as a whole person — not just an employee — are more productive, more satisfied, more fulfilled.”

Whenever you are having doubts about your kind attitude, remember – satisfied employees are productive employees which lead to satisfied customers and eventually – success for your company.

6. Offer Flexible Work Hours

The traditional Monday to Friday, 9 to 5 job is beginning to slip away. Increasingly more people are working remotely or having flexible work hours, and we can expect this trend to continue. To adapt to these changing habits and remain competitive in the labor market, more employers are offering the chance to choose your own work hours, work from home or even from another city or country.

Offering flexible hours is a powerful way to inspire your existing staff and give them intrinsic motivation. Why not let your employees choose their preferred working hours while keeping the 8-hour day? For example, night owls are unhappy and unproductive if they have to come to work before 10 AM, while others might prefer to start at 7 and finish earlier.

You can go even farther and hire remote workers – this way you’ll be able to recruit from a global talent pool and even save money on office expenses like desks, stationery, electricity, etc.[9]

7. Track Your Team’s Productive Time

Not monitoring your employees’ progress and efficiency can result in poor performance and slacking. Instead of letting things go with the flow, you should consider installing time-tracking software on your employees’ computers and see who’s doing great and who might need a productivity boost.

But don’t get it wrong – there’s no need to become big brother and watch every step your employees take. If you use the time-tracker as a spying tool, you will only see increasing suspicion and insecurity around you, and your employees’ happiness levels will drop.

On the contrary, choose software that allows employees to mark private time that won’t be tracked. In addition, consider these time-management tactics:

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  • Allow flexible work hours. (see Tip No 6)
  • Encourage breaks – studies show that employees who take regular breaks are more productive than those who don’t.[10]
  • Enable remote work to show your employees that you trust them and that they can work from home or even from another country (if they can maintain sufficient productivity).
  • Consider offering bonuses to your most productive employees (those who show productivity levels above 90 or 95%).

8. Use Only Constructive Criticism

Constructive criticism means offering valid and rational opinions about the work of others, involving both positive comments and remarks about what should be improved. Constructive criticism is usually expressed in a friendly manner rather than an oppositional one.

When you evaluate your team’s work, give them feedback that’s helpful, specific, and sincere. Don’t be shy to praise, but also be direct and even strict when necessary.

9. Don’t Give Special Treatment to Yourself

The boss’s actions are – directly or indirectly – observed by your team. This means that your employees look up to you and often mimic your attitude towards your work and the company – especially if your actions don’t show commitment. Nobody wants to work for a leader who doesn’t go all in or inspire motivation.

What you should do is lead by example. If you expect your employees to arrive at work on time and work 8 hours, do the same yourself. If you want them to show initiative, show it yourself and encourage others to do the same.

Jeff Weiner is the CEO of LinkedIn – a company of 3,000 employees that consistently ranks as one of the best workplaces with a 92 percent employee-approval rating.[11] Weiner’s workdays are reported to be equally long or even longer than those of his employees, allowing him to stay “extremely credible as a leader.”

10. Empower Your Employees

Here’s a common mistake many managers make:

They don’t motivate their staff and assume they simply love to work for their company.​ Such belief can result in painful losses for the company – especially these days when many companies are in desperate need of a reliable workforce.

Instead of directly thinking about bonuses and perks, consider intrinsic motivation. For example, enable flat organization in your team and listen to your employees’ ideas when they come up with opinions and suggestions. Your company might actually benefit a great deal from the feedback, and the unique ideas employees come up with.

You can also start an initiative where employees can freely share or pitch their business ideas to you or the founders of the company. If the idea is accepted by the management, the project can be developed, and the employee can have equity options.

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If people feel they have an impact in the company, they become more motivated, engaged and interested in the company’s growth.

11. Nurture Your Company Culture

Company culture is the personality of a company that defines the overall work environment and relationships between teammates. It also includes company mission, values, ethics, and goals.

Some examples of company cultures are the Horizontal corporate culture (collaborative and equal; popular among startups and free-spirited businesses) and Conventional corporate culture (a more risk-averse and hierarchy-based approach common in traditional companies).

However, you don’t have to stick to pre-existing boxes when creating your corporate culture. You might think of your team as a family, a sports team, or even a hippie camp if it fits your business and purpose. But keep in mind that by the time a company’s size reaches 20 employees, the company culture is set,[12] and any changes will need to be implemented in smaller teams.

Whichever personality you choose for your company, make sure to live by it and nurture it. Some things that might help:

Team building events, relevant books in your office library and proper on-boarding for the new employees to get everyone on the same page from the very beginning.

Be a Leader, Not a Boss

Using the words of Printful’s CEO Davis Siksnans, the ultimate goal is to “Hire great people who don’t have to be managed.”

However, when you do need to demonstrate some initiative and control, act as a leader rather than as a boss.

In other words, don’t be afraid to show the personality behind your role. And keep these 11 tips close to your heart.

Featured photo credit: rawpixel via unsplash.com

Reference

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