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Episode 2 – Which 3 Things Do You Need To Be A Successful Entrepreneur?
There’s 3 different pieces of the puzzle that I want to share with you that are really important to you becoming a successful entrepreneur.
And these work together like gears, sometimes you’ll be using one, sometimes you’ll be using another. As you get momentum you’ll switch between them.
So we could go for a list of 20 things but that’s not our style here – we are distilling it down to 3.
So the first is obvious – Business Strategy. If you don’t know what you are doing you are going to get stuck. In the same way if you can’t work excel you aren’t going to get your spreadsheet done.
And people underestimate this because they feel like “Hey, I’ve gotten this far in life I’m sure I can work this out!”
Generally people that back themselves to start their own business have been at least fairly successful in whatever they did until this point so they can feel over confident going in.
Honestly though in my personal experience, my experience with clients and what I see happening in the marketplace, business is a different beast. It becomes different when you are directly asking for money for something you’ll be delivering.
With a job you have to sell yourself at the interview but usually after that you’re done. The deal is sealed. Whereas as an entrepreneur you’ll need to keep sealing the deal over and over again.
Plus there’s all the different pieces that come with being an entrepreneur because at the beginning you are going to be wearing lots of different hats – you’ll be the social media manager, the accountant, the salesperson and the consultant.
Given all the things you could be doing. It’s really good to know what you SHOULD be doing. And we’ll talk a lot more about this.
So, you need to have business strategy. You don’t need a 20 page business plan but you do need to know how to get yourself to market and make money.
Once you know what you should be doing to get started what else is there?
The other really important piece is mental flexibility.
What do I mean by that?
By mental flexibility I mean the ability to pick yourself up, reflect and move ahead even if something doesn’t go your way.
Carol Dweck, who was instrumental in the study of mindset called this a Growth Mindset. She says “In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point.
In a fixed mindset, people believe their basic qualities, like their intelligence or talent, are simply fixed traits.”
This idea of how you think about your own abilities is crucial.
To explain let me tell you about one of the worst days in my business and how I responded to it.
(laughs) I’m laughing now but I am pretty sure I was crying at the time :-)
The first time I did a live webinar during a launch for my group program Ignition it took me weeks to get ready for it. I was wracked with nerves and I did no less than 7 trial runs because each time I did one there was some new snafu that I had to work out.
I spent ages building up to it – prepping and also getting myself ready because I was literally pretrified. This was way back in 2015. I got 500 people registered by promoting it everywhere for a few weeks and I only planned to do that one webinar.
So I run the webinar and actually I’m surprised at how well I was able to present considering my nerves. I got all the way through. Had lots of great feedback in the chat. It was really cutting edge content. People were really impressed. I got several messages from friends about how great it was and then I checked my email for sales afterwards…. AND NOTHING.
Not a single sale. I couldn’t believe it. As far as I could tell everything had gone really well.
After over a month of build up I was literally on my knees with exhaustion and I felt publicly humiliated because I had made such a big deal about this webinar.
At that point I really had two choices. Drop the launch, maybe even drop the program, act like nothing had happened or get angry about the fact that no one bought from my awesome webinar (not an option by the way)
Or pick myself up.
I had to spend the rest of the day licking my wounds and then I asked the only person who I felt could tell me what went wrong what to do. I asked one of my former mentors.
She got back to me and let me know I needed to do two more webinars and told me the changes I need to make. I trusted her opinion even though I felt like I’d rather do pretty much anything rather than run two webinars I did what she said and the launch was a success.
I believed I could still change the outcome and that what happened in the past wouldn’t necessarily repeat itself.
We’ll be talking a lot about how you can cultivate mental flexibility here on Your Business, Your Rules.
What’s the last piece of the puzzle – it’s drive.
I think this is different from “being motivated”. You have to know deep inside yourself that you want to be an entrepreneur and do meaningful work.
If you have that drive inside yourself you’ll keep going when you experience temporary set backs. You’ll learn new strategies when what you did so far doesn’t work.
Without drive at some point you won’t find it important enough to do the work. Life will take over. And no one can give you that. Drive comes from within.
So if you want to live a life on your terms that’s the piece that I am hoping very much that you are bringing with you.
I can help you with the mindset and sometimes that will be what you need next, I can help you with the strategy so you have a way to direct your energy – but you have to really want the outcome. You have to have drive and that is literally what “drives” your business growth ( or lifestyle improvement, however you want to look at it) it drives the engine.
Now I’d love to hear from you
What do you think are the important qualities of an entrepreneur?
Why do you think makes the difference?
Share your thoughts in the comments below :-)