4 Secrets To Being A Successful Entrepreneur
December 16, 2018 [Sarina Jain]Share On
Entrepreneurship comes with a lot of ups and downs.
Like any other business, it was not easy for me to start Masala Bhangra. It started out as an idea of using Indian dance as a workout for years. But it was my father’s sudden death at a young age to massive cardiac arrest that gave me the motivation to get everyone up and moving. After all these years, I’m still on that mission.
It’s my drive and passion for fitness and dance that has helped me to continue on this entrepreneurial journey. I’m sure every entrepreneur has days when they just want to quit and do something else. But personally for me, on days like that, I remind myself of why I started Masala Bhangra in the first place, take a deep breath and reassure myself that all of my efforts (and long hours!) are worth it.
On the forefront, it sounds like a dream to be your own boss, creating your own rules and following your own schedule. There are many perks to owning your own business. It comes with a lot of freedom and flexibility. The entrepreneurship lifestyle can be extremely rewarding. It allows you to take an extended vacation, have an unlimited earning potential, and an opportunity to create something amazing that’ll impact others.
However, it’s not all sunshine and rainbows. It’s not always sipping cocktails by the pool with a laptop. Being a successful entrepreneur can be challenging. There are long hours of working late nights and early mornings. You’ll be making huge investments on time, money and energy. And there’s always a risk of failure.
Owning your own business is exciting and rewarding. There’s always room to grow. But know that it can also be exhausting and frustrating. So what does it really take to make it as a successful entrepreneur?
Here are 4 secrets that I’ve personally used to stay on top of my business.
Taking Risks
It’s now or never. I knew that once I had the idea for Masala Bhangra, it was something I had to act on. Was it risky? Of course. But it was a risk that I had to take. I knew if I didn’t act on it now, then I would have never followed through.
From giving up the security of a regular paycheck to diving into an unpredictable work schedule, successful entrepreneurs take risks. As long as you’re a business owner, you’re going to be taking a handful of risks while facing rejection and failure. The bad news? There are no guarantees with any of the risks you’ll take. The good news? Successful entrepreneurs are risk takers. Just look up anyone who’s made it big — J.K. Rowling, Oprah, Steve Jobs — they all took many risks and faced adversity.
It’s normal to feel afraid and second guess yourself, especially when you’re putting everything on the line. Your income is all on your efforts. If something goes wrong, it’s your job to fix it. You’ll have to work some weekends and nights.
Some entrepreneurs will take more risks than others. But without taking risks, success is rare. If you don’t take risks now, when will you?
Networking
No one has done it alone. Successful entrepreneurship is built on a network of contacts and many resources. I’m naturally an outgoing person who can start a conversation with anyone. I know that every conversation I have (no matter how big or small) is an opportunity to market my business.
I was once on the subway and sparked up a conversation with a woman who turned out to be a reporter for a local newspaper. She ended up writing about me. Whether it’s on the subway or at an event, I’m a walking billboard for my business.
If you’re an introvert and you find it difficult to start a conversation, keep practicing!
You don’t have to be perfect all the time. You can always hire a coach to help you with networking or bring on an assistant or business partner.
Networking is more than just going to events and passing out business cards, especially in 2018. Networking has to be a part of your regular schedule. Why? Because you never know if someone is going to need your services/projects or knows someone who does. Making the right connections is critical in business growth.
Both online and offline networking is so important when you’re building your path to a solid business. There are networking hacks everywhere if you look in the right places!
Here are some ideas to get you started.
Online Networking
LinkedIn. With over 562 million members in over 200 countries and territories, LinkedIn is a great tool for marketing your brand, landing clients and meeting people from all over the world.
Facebook Groups. Nowadays there’s a Facebook Group for everything. And your dream clients/customers are probably hanging out in them! Make sure to check the guidelines before posting any promotions. Use them to connect, ask questions, and learn.
Offline Networking
Family and friends. Yes, you have to leverage your network by starting with people who you actually know. Tell them you’ve started a business and what you offer. You never know who your old college friend will know. Businesses are all about word of mouth!
Local events. Sometimes you just have to go out and actually meet people and build face-to-face connections. Go on Eventbrite or Meetup to find local events to attend.
Commitment
Whenever I don’t feel like doing the work that needs to be done, I remember the passion and drive of why I started Masala Bhangra. I tap into that feeling and get to work. Sometimes I have to put in extra hours or miss personal events, but this has always been my dream. It’s my number one priority to make sure my dream becomes a reality.
It’s easy to get frustrated or discouraged when things don’t go your way. As you grow your business, you’ll need to grow your mindset and develop a thick skin.
Staying committed to your goals is key. It’s not always easy when things don’t go according to plan or you’re being slapped in the face with rejection letters. Take a few minutes to sulk, but then get back up and remember why you started.
When you understand your reason why you’re more likely to stay committed. Write down your reason why and put it somewhere you’ll see daily such as your workspace or on the bathroom mirror.
Is it to help others? Make a difference? To have freedom and flexibility in your work schedule?
Your business will be will become a much more achievable goal once you are clear about why you started it in the first place. What is your reason why?
Flexibility
I was once invited to present my business at a yoga festival and at the last minute, I was told there wasn’t enough in their budget for me. Getting upset wouldn’t do anything for the situation. I had to be flexible and accept it. The following year, they invited me back.
Flexibility isn’t just for yogis. It’s is a skill that every entrepreneur needs for success. Keeping up with industry trends and responding to what’s happening in the marketplace is a huge part of your job.
Something will pop up in your schedule, you’ll have unexpected meetings, and mistakes will occur. When unexpected twists and turn pop up, it’s an opportunity to practice your problem-solving superpowers. When something comes up and it feels like a struggle, being flexible with the situation will help you develop a new strategy and move on.
If you need to change direction, then that’s what you’ll do. Being flexible is not a sign of weakness. It’s a sign of strength.
You have to be able to bounce back!
What Are Your Secrets To Being a Successful Entrepreneur? Share with us in the comments section!