“Every time you state what you want or believe, you’re the first to hear it. It’s a message to both you and others about what you think is possible. Don’t put a ceiling on yourself.” ~ Oprah Winfrey
WHO IS AN ENTREPRENEUR?
An entrepreneur is always ready to take up risks and invest his money in a business or business with the expectation of earning profits. Investment in any business is a risky affair. An entrepreneur carefully analyzes the boon and bane of any venture before investing, and then he takes an informed decision. Professionals may assist him with such analysis.
PROBLEMS FACED BY NEW ENTREPRENEURS
Here is a list of problems faced by new Entrepreneurs:
- New entrepreneurs face a lot of competition and threats from existing entrepreneurs. Some may venture into a well-established industry, while others may incline towards a startup.
- Cash flow management is a major challenge faced by new entrepreneurs. Since they are new in the market, they may have very little or no revenue, but incur expenses for running the business. They require proper budgeting and structural planning in such cases.
- Some other problems include :
- Problems in hiring new employees
- Delegation of authority and tasks
- Time management
- Marketing strategies
- Capital and financing
While an entrepreneur is taking up risks to set up his own business, one prominent problem is self-doubt. Societal pressure and lack of opportunities can misguide or demotivate new entrepreneurs. So how do we tackle that?
Let’s find out!
HERE ARE 5 WAYS TO STAY MOTIVATED
1. BELIEVE IN YOURSELF
When we take up risky ventures such as entrepreneurship, there always lies an uncertainty of earning money. At the initial stages of business, entrepreneurs incur more expenses when compared to the profits made during a particular financial year.
But that is not the dead-end. No matter what people say, you must believe in your idea and work hard to make it a reality. We can do only this if we believe in ourselves. Even if visible results such as revenue are not present immediately, new entrepreneurs should keep striving hard to reach their goals.
2. BE A GO GETTER
The phrase “go-getter” describes a person determined to be successful, able to deal with difficult situations pragmatically, and involved in the company’s growth.
New entrepreneurs should analyze new opportunities and treat them as potential projects that they can work on. One may get disappointed if things don’t turn out the way they expected them. However, you should not give up and keep trying over and over until you succeed.
3. MAINTAIN A HEALTHY ROUTINE
Stress is an inevitable aspect of today’s lifestyle. Establishing a healthy routine such as waking up early in the morning, keeping oneself fit by exercising, eating healthy, meditation, taking out some time for relaxation are some ways to relieve stress.
Having a pet and playing with them can also act as a powerful stress buster. It makes one peaceful. This improves the productivity and efficiency of the entrepreneur.
4. REWARD YOURSELF AND OTHERS FOR HARD WORK DONE
It is human tendency to react to incentives and work harder next time. Setting up small goals for a day or even for a week or long-term goals such as making a breakthrough and hitting such goals should be rewarded to keep oneself motivated. It also motivates the employees working with the entrepreneur.
However, this doesn’t mean that you have to spend lavishly to celebrate a victory. A mere acknowledgment of achievements as simple gestures is enough.
5. SEEK FOR INSPIRATION
Everyone has to seek inspiration from the outside world to stay focused, enthusiastic and motivated. For instance, Henry Edward Roberts, the development of early personal computers, inspired Bill Gates to start the Microsoft company.
Watch out for such eminent personalities who drives you to your goals. Read about them, learn from their mistakes and experiences. It is easy to work, but difficult to maintain the same. Young entrepreneurs must put consistent efforts to yield favorable results.
This can only happen if there is a force that acts from the inside and out. The force here is self-motivation and inspiration. Thus, we can say that self-motivation and inspiration go hand in hand. Last, surround yourself with like-minded people. This is very important because people have an influence on your work and personality. When you find yourself challenged, you put in efforts to stand on par with your challengers. When people with similar mindsets come together, they inspire you to work harder and make you feel pumped.
Thus, having such people and positivity will help increase efficiency and improve productivity.
We hope that our blog, “HOW TO STAY MOTIVATED AS A BRAND NEW ENTREPRENEUR” helped you to keep yourself motivated as a new entrepreneur by solving different problems. Stay tuned with Blogger Bunny for more such blogs. Also, visit our blog How to Finance A Startup Business? for more guidance about finance for startups business.