I get the pleasure of working with entrepreneurs every day. I’ve worked with some that have experienced huge success and I’ve also worked with some that just couldn’t get it together. Over the years I’ve learned the traits that divide. It’s not whose the prettiest or the smartest, those assets don’t have a lot weight in the entrepreneurial game.
It’s the behaviors and mindsets of the individuals that separate.
Some entrepreneurs are successful at creating the behaviors that equal success whereas others will spend most of their entrepreneurial journey struggling until they meet their demise.
The entrepreneurs that can’t seem to get their mindset mojo will spent their journey chasing dollars – and spending them. But unless they find a way to develop the mindset of success no matter what they’ll still find themselves back at square one.
Home-Based Entrepreneurs Have Even More Challenges
There are millions of home-based business in the United States alone, and that number is expected to climb dramatically.
* 69% of new businesses in the U.S. start at home, and 59% of established businesses are home based.
* People of all generations are taking a chance on their own businesses: About 15 to 20% of the workforce–regardless of age– is engaged in running a startup or a more established business, once labor-force participation rates for each generation are factored in.
*Information taken from an article in Forbes Magazine.
Paying your own paycheck is certainly not the path of the least resistance and working from home can certainly add to the challenge. As women we find ourselves of the mindset that we need to do everything (usually at once). We have the children to raise, the house to take care of, people to feed, perhaps animals to see after, bills to pay – and to add starting up a business to that?? Craziness! How could you possibly find it inside yourself to be the champion that births a successful business atop everything else?!
Well it’s difficult but not impossible. I’ve done it and I know plenty of others that have as well. It may be a path of resistance but it’s definitely traveled! Sure, in the journey things will suffer, not everything is perfect, the house may be messy, you may not be as groomed as you used to be, and the pizza boy is definitely on the redial but everything works out in the end right?
If you have the right mindset, even with the challenges of home, you can in fact create a hugely successful business.
The Behaviors That Separate
One of the largest struggles of any entrepreneur is time. There’s not enough time to get everything done. There’s certainly not enough time to think ahead. What about the times you find yourself really busy – do you think that the business will always be there? Do you find yourself riding the wave? What happens when the wave peaks?
I for one do not ride waves. I want to be in total control of my business and I want every decision to be one of purpose. I can feel it when things are starting to get out of control and I will call a time-out fast. When I don’t feel that I’m in control of my business I get very uncomfortable and that’s when I start to make bad decisions.
What people of successful mindsets do during a very busy time is they take time to consider what they can do to sustain the growth and continue it. They don’t live in the illusion that it will always be there.
Here’s the behaviors that divide:
1. Plan and Set Goals – You have to have some sort of plan in your business. What exactly do you want to accomplish? In what timeframe? If you have a gage and a roadmap, you’ll recognize success. You’ll also have the awareness when it’s not happening. You’ll know when you need to step up your efforts.
As an example, how were your sales last year? Were you happy with that number? If no, we’re halfway through 2014, is it any different? If no, did you think it would just sort itself out? Did you think you would get lucky?
Even if you start out small, set goals in your business for today. What do you want to accomplish by January of 2015?
2. Make Tough Decisions – Successful people are always prepared to make tough decisions. We don’t just stay in situations because it’s easier or we’re too afraid, or perhaps we fear confrontation. I can create a million scenarios. For an example consider this, do you have toxic relationships in your business? What about with your clients? Do you have clients that make you dread even getting up everyday? Do you have clients that don’t pay you on time or not at all? Perhaps it’s time to fire those clients!
When I started being really profitable in my business was when I learned not to do business with people that first didn’t value my business enough to pay me, and secondly didn’t treat me with the respect I deserve. I will fire a client in a minute – and I won’t think twice about it. I have look out for my own business first. Everyone does.
Remember the speech the airline stewardess does, “Please put on your own oxygen mask before assisting others.” Apply that rule in your business as well.
3. FOCUS – Entrepreneurs that have successful businesses have laser focus. Stop being busy in your business! Being too busy is a self-inflicted diversion that creates the illusion of productivity. When you end your day – what got done? How much closer are you to your goal?
If you want to create a successful business you must create the behavior that understands the value of knowing exactly what you want from your business. Who is your ideal client? How will you reach them in a way that expands your business?
You are in charge here. You run the business – don’t let it run you.
Tearing Down the Walls
I have a new hero! Her name is Carrie Green and she is owner of the Female Entrepreneur Association. I watched her Ted Talk in awe (actually I watched it 3 times) and I felt so connected to her! She told the story of being lost on the journey of looking for her purpose, which I totally related to. She tells in detail how she pulled herself away from fear and purposely programmed her mind for success.
Photo credit to Ted Talks.
Here are some highlights of her Ted Talk:
“People are missing out on amazing opportunities because of bad decisions – due to a bad frame of mind.”
“Perhaps you say you’ll do it tomorrow, and then tomorrow comes but you never do. All of those fabulous ideas stay locked inside.”
“Success is no accident, you have to do it on purpose.”
Carrie is dead-on, success is NOT an accident – so why do so many people try to just fall into it? Or why do they wait for it to just happen to them?
Why are they surprised when it doesn’t happen they way they wanted it to?