Arif is an entrepreneur who left a steady job at a bank during the pandemic. His businesses include currency trading and freelance writing.
Becoming an entrepreneur is a truly daunting task. It can be rather scary for you to leave your stable job to pursue your passion. And not everyone who embarks on that journey makes it successfully in the end.
So, what are the most important things to keep in mind if you are thinking of starting your own business? What are the things that can separate you from the rest?
The answer to those questions may not be so clearly defined for everyone. Perhaps the most important thing is inventing a useful product. Maybe it's about knowing your target demographic. Maybe it's about marketing.
Yes, these things are very important.
However, as an entrepreneur myself, it is in my humble opinion that the most important thing to become a successful entrepreneur is mindset.
Many beginners tend to overlook the importance of a strong mindset. But it can truly mean the difference between your success and your failure.
So, these are three mindset hacks that could help you in your entrepreneurial journey.
Find Your Purpose
First, establish your purpose. Think about it. Every company (regardless of how small or large they are) usually has a mission and vision statement. So, why not have one for our own lives? You could think of yourself as a one-person company trying to make it through this harsh world in one piece. Take your time to come up with this. Write it down on a piece of paper.
Take note, writing down “I want to make a lot of money and get rich” is NOT A PURPOSE. One’s life purpose cannot be defined by materialistic goals. It must be deeper than that.
Your purpose should justify your suffering in life. Life is tough, especially if you choose the entrepreneurial life. Life is suffering. However, it is up to us to make that suffering meaningful. As an entrepreneur, you are most probably going to have to suffer through all the hardships that come with the territory — the failures, the sleepless nights, the losses, and the rejections.
So, you must be willing to accept that this suffering will be worth it in the end. Life is going to be tough anyway, so why not suffer through it for the right reasons?
Entrepreneurship is not easy because it is the pursuit of a life worth living. A life lived on your own terms. Although the starting of that life will be rocky, the hardships will be mentally justified because you know that one day, if you suffer long enough, it will be worth it. And then you would truly be happy. So that can be your purpose. To justify life’s suffering with a meaningful pursuit of happiness.
Define Your Growth
Second, define what you perceive as “growth”. In order to make one’s suffering in life meaningful, that suffering must lead to growth. And the true meaning of growth may vary from one individual to another. And this can be tricky for you to figure out, especially for a beginner. As an entrepreneur, your growth should be defined within your capacity for achieving your business goals as well as your emotional goals.
Now, what do business and emotional goals mean? Well, a business goal is pretty simple. It means setting a monthly revenue target every month. One that is enough to not only re-invest into your business but also enough for you to spend on your own monthly expenses (house rent, bills, food, etc).
An emotional goal means earning the right to feel satisfied with life. Earning your place in this world. Striving to fulfill your potential and knowing that you did whatever it took to reach it. Ask yourself what can entrepreneurship accomplish for me? Are you looking to find financial and time freedom? Are you looking to quit your miserable job? Provide a better life for your child?
Whatever it may be, once you have set these goals, aim at it single-mindedly. And nothing else.
Don't Waste Your Time Trying To Get Motivated
Third, don’t waste time trying to get yourself motivated. Motivation is overrated. You might feel motivated today, but feel anxious and lazy tomorrow. It is, therefore, better to come up with a strict daily routine to achieve your personal goals and follow them — regardless if you feel motivated or not — an ethos. A work ethic.
You must understand that you are playing the long game. And throughout your long journey, there will be times when you feel tired, lazy, nervous, and scared. Times when you feel like sleeping in, or binge-watching your favorite Netflix show. Times when motivation is nowhere to be found.
So, instead of waiting for the perfect time for the stars to align, come up with a regimented schedule to achieve realistic targets. And make sure you stick to them every day. Passion and motivation are only useful if it transmutes into a habitually structured way of life. One that leads to specific goals.
You may have to adapt your plans occasionally based on your current circumstances. But as long as you have a plan, you have a direction to aim for.
Sticking to a plan will make things like passion and motivation to be so beneath you that you don’t even need it.
So, fix a routine. Make a schedule. Set a target. And for god’s sake, FOLLOW THEM!
Everyone knows that becoming a successful entrepreneur is not easy. And success may still be pretty far away. It would probably take a long time for you to one day say to yourself, “You did it!”. And until that day comes you will be engaged in a ferocious marathon of heartache, hard work, and discipline. And that’s okay.
You must forgo your immediate happiness for your future happiness. That, my friends, is what separates the wheat from the chaff.
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