October 3, 2013
Entrepreneurship begins with a lot of zest and enthusiasm. However, once the business gets going, the entrepreneur starts to lose the energy with which she had started with. Stagnation creeps in. After examining several businesses, I've figured out some of the causes.
You get into a comfort zone
Once you settle into your business, money starts to settle in as well. You hardly have to think of new ways of doing things to reap more rewards. The business keeps running on autopilot, and cash flow remains constant.
Boredom grasps you
Entrepreneurs start to pull themselves out of operational responsibilities. They even lose track of strategic decisions. This basically happens because the speed at which the company started its development slowed down abysmally with time. The progress is not very tangible anymore. Hence, stagnation sets in.
Stress and fear pile up
As an entrepreneur, you are not answerable to anyone, but yourself. You get lonely out there. The name of the game at this point is to secure what is built. Until then, you were fearless, and making risky decisions was easy. There was nothing to lose back then. But now, the fear of losing reduces your risk-taking abilities.
However, if you have a higher goal, it is a game worth playing, and every part of it should fetch you credible milestones. But how can you keep your entrepreneurial energy flowing all the time?
Here are some tips to keep the energy flowing:
1. Keep things visual
As time goes by, it becomes harder for you as an entrepreneur to remember and check out all the segments of your business activities. Hence, the idea is to start organizing some visuals. The more you see your inevitable goals, the more passionate and dedicated will you remain. Try designing some posters, or make some notes of your futuristic plans related to your business. This will help you to stay on track and to remain hopeful.
2. Accept the challenges
The life of an entrepreneur is full of challenges. From starting your company to its launch and further growth, the journey will always be challenging. Some jobs require X amount of risk and are rewarded with 2X success. However, for an entrepreneur, this is not always the case. It is like taking 2X risk and getting rewarded with X/2 gains. So the earlier you accept this, the better you will fare in your entrepreneurial journey.
3. Arrest negative emotions
All our problems begin in our minds. Plenty of people start thinking negatively and end up facing the consequences of those negative vibes. Do not be one of them. Instead, keep control over your mind, and book those negative thoughts like a cop books criminals. Meditate for awhile, and question your thoughts rigorously. Doing this once a day can cleanse your brain of those negative vibes.
4. Keep your passion alive
Always trace back to the reasons you started a company in the first place. Oftentimes we start a venture without involving our passion in it. But, ironically, sometimes if you develop passion toward something, that passion builds momentum. Your passion can take you miles that your thoughts have never been able to reach. And it is contagious in nature, so it will help you to generate like minds along the way.
5. Be open to ideas
Finally, this is a word of caution as well as suggestion. As an entrepreneur, you need to be open to suggestions from various sources. If you are open to seeing where the change in direction takes you, you might be surprised. Seize the opportunity before closing the door right away. Approaching things organically can lead you to unexpected shores, but that is how the life of an entrepreneur evolves.
Traveling new shores, exploring new ideas, and creating new opportunities are all part of an entrepreneur’s life. So enjoy it, learn from it, and share it to grow big in life. Always remember: to succeed in life, you need to fail and arise once again. You just can’t say, “I am a failed entrepreneur” because entrepreneurs are like Phoenix who falls, but rises from fire again and again.
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