Sunday, October 16, 2011

Personal Tips for Entrepreneurs Part 1

Up until now I have only been focusing on the physical aspects of managing companies, which while stressful, is nothing compared to the amount of pressure an entrepreneur puts on himself.  Entrepreneurs tend to be very bold and take risks, but that doesn't mean they aren't calculated risks.  But they still live with the intense pressure and drive to succeed.  But what does it take personally and mentally?  To discuss this I read this article here, which was very informative.

Possibly the biggest thing an entrepreneur can do is to think about success.  It takes a lot of guts and daring sometimes, but thinking about success and how you will reach it is far more helpful then dwelling on the negatives or what could go wrong.  You must reinforce in yourself consistently what success is and that you will reach it.

You must be passionate about what you do, or else you are setting yourself up with failure.  Being passionate about what you do will motivate you to get thru the tough long hours that you have to work to be successful.

You have to emphasize your strengths while trying to improve your weaknesses.  You can't be the end-all be-all because it is impossible, so you use your strengths and work with people who cover your weaknesses with their strengths.

You can never consider the possibility of failure... ever!  If you do you will most likely fail, as no one starts something successfully thinking they will fail.  You must have faith in your abilities and in your idea and that they will succeed beyond the shadow of a doubt.  That doesn't mean you don't make every effort to minimize risk, but it takes some guts to do so. 

You should plan accordingly, taking into account your goals for your organization.  You should write the goals down as concrete proof of your plan.  That makes them tangible goals which should be reached.

I will continue this post tomorrow, so stay tuned!

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