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Monday, January 24, 2022

5 fundamental principles of early entrepreneurial success

A list of essential personality traits and tactical approaches to help ensure sustainable growth

Epoch Times Photos
Chris D. Bentley

There are probably a few rational souls out there who really think entrepreneurship is easy, but even those who have thought about the physical dimension may not have fully realized how difficult it can be. In particular, as a newbie or business owner with average experience, you have many responsibilities; everything seems to require your input or control … you are at the forefront of business continuity, profitability and problem solving. Entrepreneurs also face challenges such as loneliness and negativity from the people they lead. I work more than 16 hours a day and have certainly dealt with such negativity, as well as terrible losses and many additional dilemmas. So, to help you succeed in entrepreneurship and reap its potential freedoms and rewards, here are some helpful tips.

1. Self-awareness as Lynchpin

Almost any leadership path begins with self-awareness. So, be honest about your temperament, habits, and what kind of interpersonal relationships are right for you. Honesty in this analysis is vital, not least because leaders or managers can force you to change – accept a different personality – and knowing where your passions (as well as your limits) are to minimize self-sabotage and avoid obstacles to your venture is critical. … It is also important to understand your risk tolerance, as entrepreneurship inevitably requires taking risk. The key to success is knowing who you are and what qualities you can best apply, as well as others that might be worth working on.

On the subject: A True Guide to Finding Passion and Love for What You Do

2. Avoid over-control

One lesson that has helped me succeed many times is that too much control can hinder progress and alienate you from goals. Because not every idea of ​​yours works in the field of entrepreneurship, and too much control depletes and demoralizes team members. So, learn to allow processes to evolve without being overly involved – create a sensible work culture or structure that allows everyone to play their part at an acceptable pace and with sustained effort. This will help educate the staff who will create the best projects, as well as the one who knows best when to ask for your input.

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3. Build a sustainable, positive mindset

To avoid demotivation, negativity, and burnout, cling to the positivity towards your ultimate goal. A study by Dr. Carol S. Dweck, Lewis and Virginia Eaton professor of psychology at Stanford University, found that in predicting success, it is not so important whether a person is gifted or not; what matters more is the person’s belief that he can succeed and win.

On the subject: How to Become a Positive Thinker

4. Be a free spokesperson for your brand.

One key organizational role that is a huge determinant of success is marketing and customer engagement, so you and your employees need to practice as freelance ambassadors. Do it from the bottom of your heart … move your business forward and be prepared to deal with negativity and / or destructive misinformation in the process, and use constructive ways to respond. Because for a business to thrive, all criticisms need to be addressed. In doing so, you may find that your business is slowly optimizing without much effort.

5. Maintain work-life balance

Overworking yourself — ignoring other aspects of life — simply won’t pay off in the long run. Achieving balance for a healthier mind, soul, body and bottom line is the key to long-term success. So, develop relationships with your family, friends, and coworkers … practice making time for them. Hours spent with loved ones can help you freshen up and gain strength that can later be applied at work, rather than coping with burnout alone. With all your heart, devote time and invest it in all aspects of life so that you can live it truly and abundantly.

Related: Work-life balance is easy. To be successful at work, get a life.

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