“How do you eat an elephant? One bite at a time, of course!”
From opening your first business, to maintaining a long-time successful business, the “one bite at a time” approach will prove effective. Here are four of the most valuable tips for any new or aspiring entrepreneur.
Tip #1: Fear is inevitable. Bravery is a choice.
No matter how prepared you might be, fear will always present itself when embarking on a new adventure. Fear of change, fear of the unknown and fear of failure are the most common forms. The only way to counter fear is to be brave. Success requires you to face your fears with bravery and courage. It requires you to face your fears with persistence and a ‘never-quit’ mindset. “You never fail until you stop trying.” -Albert Einstein
Action step: Write down the three things that scare you most about starting a business. Second, write down a long list of reasons why your business is going to succeed.
Tip #2: You do not need to know it all.
“Paralysis by analysis.” You do not need marketing, sales, or a managerial background. You will learn the rest after you make the decision to start. In fact, it is only after you start your business that learning these things becomes a must. Tony Robbins said it best when he said, “Whatever your must is, you are going to get it.” Make opening your business a must.
Action step: For at least 10 minutes, close your eyes and imagine you just signed the lease or launched your business to the public. Write down the things you will now need to take action on. Would you have taken action on those things or learned how to do them if you had not opened your business? The best way to learn is by doing!
Tip #3: Know your WHY.
You need to know WHY you want to open your business. Do you have the desire to create an amazing client experience? Do you want to lead a team? Do you want to be able to determine what your income will be? You will need to own the business to do this. You do not need to know it all, but you do need to know your WHY.
Action Step: The 5 Whys. Ask yourself, “Why do I want to open up my business?” Answer that question, and then ask “Why?” again in response to your answer. Keep asking “Why?” until you cannot go any further. This is your real “Why” and it will deeply motivate and inspire you to take action. Read the book, Start with Why, by Simon Sinek. It is a must read for all entrepreneurs.
Tip #4: Upgrade your inner circle.
Mistakes are important, but there is no written rule that says you have to make hundreds of them to succeed.
Jim Rohn says, “We are the average of the five people we spend the most time with.” Hang around successful people and you are likely to succeed. Spend time that you do not have reading books on business, personal growth, marketing, and leadership. Spend money that you may not have on mentorships, retreats, and workshops. Expand your network and upgrade your inner circle.
Action step: Join a mastermind group. Can you imagine having a team of both successful and aspiring entrepreneurs to learn from and bounce ideas off of? Perhaps the greatest benefit of a mastermind is knowing that you are not alone, and the secure feeling of knowing that you have a support team.
Starting a business is scary whether you are fresh out of college, or more experienced and thinking about quitting your day job to pursue your passion. If you take action on each of these tips you will find yourself prepared to take the entrepreneurial leap and land on both feet. You can begin making your dent in the universe. But you must start soon.