Does Laura Really Have What It Takes To Overcome Challenges And Become A Successful Small Business Owner?
Laura had been with her company for over a decade…
And after these ten loyal years she felt proud to be one of the key figures in rocketing the business into a multi-million dollar success…
And during one difficult period of the company’s journey, Laura was the only employee to stick around without pay...
She was dedicated.
She was committed, caring, and wanted to make a difference.
Recently though, Laura began to notice she was suffering in the business...
Her days were completely unfulfilled, the company structure had taken a major shift, and she found herself being repeatedly forced to submit to her superiors...
Often in front of the rest of her colleagues...
Her dignity was taking a hit whenever she went into work and it was clear this was not what she’d signed up for.
After Laura’s manager dumped another pile of unexpected work on her desk, she had reached her limit…
Laura finally made the decision to quit and spent the following week ferociously creating a list of small business ideas...
But soon after her list was complete and it was time for taking action, the novelty of excitement quickly wore off…
Laura was confronted by the questions that plague every aspiring entrepreneur…
“Do I really have what it takes to start a small business and succeed as an entrepreneur?”
“Can I handle the pressure of small business challenges?”
Laura knew that a full-time job at another company was out of the question…
And even though her friends and family might have seen that direction as a safe one, the last thing Laura wanted was to end up in the same position another five years down the road…
Working for someone else, wondering what could have been…
So Laura set out to answer these tough questions so she could begin to change her destiny and embark on the journey as an entrepreneur.
Perhaps you’ve found yourself motivated to start a small business?
And like Laura, I’m guessing the question has passed through your mind about whether you have what it takes to be an entrepreneur?
To help you gain clarity, in this article I’d like to share with you 11 traits successful small business owners have so that you can see whether you’re cut out for the game of entrepreneurship...
There’s no need for your small business to save the world for it to become a success, but ask anyone who’s transitioned from being an employee into full-time entrepreneurship and they’ll tell you that finding purpose and inspiration when starting a small business begins with having a clear and powerful vision.
You’ve been born with one of the most powerful tools human beings could ever have: imagination. So if you use it to your advantage then you’ll have at your disposal one of the keys to thriving in the game of entrepreneurship!
People rarely enjoy change unless it’s their choice. They prefer to hold onto what they have for fear of the unknown.
So one of the great challenges of starting a small business is that if you want to make way for the new, you’re going to have to let other things fall away.
This could be the TV, eating out with friends too often, or even a mental attitude that won’t serve you anymore. When you begin to let these things go then you’ll begin creating the space necessary for new experiences and results.
Spending time alone is different to working alone. Starting a small business requires many nights in isolation doing things that most people don’t like to do, just so that you can set yourself apart from the majority and build momentum.
During these periods, your inspiration will have to come from within and no matter what small business challenges you face, there will come times where you’ll need to get them through on your own. This is how you grow to meet even greater levels of challenge and reward.
Making decisions can be easy but when starting a small business, sticking to them is what really makes an entrepreneur successful.
The road to your highest objective is a long one, filled with distractions, shiny objects and a wealth of other small business challenges, so if you want to ensure you never return to life as an employee then committing to your small business goals is a must.
When an entrepreneur puts in the time to learn, they increase their ability to earn. Starting a small business is going to require you to wear a lot of hats, especially in the beginning, but as long as you dedicate time to learning and prioritize the knowledge based on what’s most important, then you’ll put yourself in the best position to grow and progress.
Then you can start investing in others and begin building a team...but that’s a topic for another day!
You create your habits and then your habits are going to create you. 97% of our thoughts, feelings, and actions come from our subconscious mind, meaning that we don’t even consciously think about them. They just happen because we’ve programmed them that way.
It’s like brushing your teeth at night…
Or driving to work and not remembering how you got there…
A huge part of your success when starting a small business is going to come down to how well you can reprogram your mind and create positive habits that serve you - especially through the tough small business challenges that knock most aspiring entrepreneurs out of the game.
This is the common denominator of all successful entrepreneurs. They were able to identify and form the habit of doing things that most entrepreneurs don’t like to do.
Think for a moment about small business challenges like sales, persuasion, calling people, or performing the same essential tasks over and over again - does it make you excited? Most likely not! But just because you’re starting a small business centered around what you love to do, doesn’t mean that everything you do you are going to love.
When you form the habit of doing things most people don’t like to do, then you will put yourself into the top percentile and are well on your way to achieving your highest objectives.
Most people find the thought of doing something new extremely uncomfortable. So when you step out into the world of entrepreneurship it’ll require embracing change and adapting quickly to new tasks, people and environments.
When starting a small business it’s normal to feel enthusiastic, even as you think about it during your 9-to-5 day. But as the inevitable challenges start to appear, enthusiasm can quickly turn to disappointment for the majority of entrepreneurs. This is why it’s important to constantly remind yourself of the good that is coming with change, so you can build a positive attitude towards it and adapt with greater skill when you need to.
Modern technology and the corporate world have certainly made this one of the greater challenges when starting a small business. Hours in front of screens and being surrounded by constant distractions actually conditions the mind to switch it’s focus repeatedly, which can affect our ability to concentrate and remain consistent with a task.
As an entrepreneur, it’s up to you to take back the power of your mind and retrain your brain to focus on what you’re doing. Focusing on a task is one thing, but being able to hold your focus throughout the evolution of an idea into a profitable small business is another - so make sure ‘focus’ is a top priority to ensure you achieve early momentum.
- You know when to ask for help
Just because you’ll have nights spent in isolation building your dream, doesn’t mean that you have to do it all on your own.
Successful entrepreneurs know that their growth actually comes through both the service to and the help of other people. Without trusted, experienced advisors in your corner, it’s virtually impossible to gain the critical perspectives for where your improvements can be made and to find the advice you need to overcome small business challenges.
Soaking in the wins of entrepreneurship is easy, it’s when the small business challenges present themselves that the real tests come. I believe this is what really separates the most successful entrepreneurs apart from the rest; having the ability to recognize the positive in every situation no matter how few benefits there may seem to be.
“How does having no time and money help you to achieve your goal?”
“How did losing it all help you to make it in the end?”
We’ll dive deeper into this topic in a future article because having the capacity to see the connection between seemingly devastating situations and how they actually serve you is priceless.
When you master this skill you will have mastered yourself.
Every aspiring entrepreneur like Laura faces the question of whether they have what it takes to overcome small business challenges and succeed as a small business owner…
It’s the inevitable hurdle of the mind that prefers to stay in the comfort zone and settle back into what it already knows..
It’s the world of familiarity...
And you and I both know that’s a place you don’t want to be anymore! So sit with these questions and when you feel the pain and frustration of working for someone else and being stuck in a rut becomes too much to bear....
Then you’ll know you’re ready to make your dream come alive.
FOCUS POINTS (FROM FYF)
Want to know if you’re cut out for entrepreneurship?
What does it take to run your own business
Hardcore facts about being in business for yourself
9x Starting a small business
8x Small business challenges