Thursday, September 29, 2022

Do you feel pressured to succeed? These 15 entrepreneurial tips can help

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Shreya Christina
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Entrepreneurship looks different than it did 30, 20, or even 10 years ago, with new social media platforms constantly popping up. Companies now have the potential to go viral and become instantly successful, leaving other companies feeling let down.

These overnight digital success stories can put a lot of pressure on newer entrepreneurs to “crack the code” and get their startup off the ground right away. However, there are many different paths to success, and they are rarely as quick and easy as it seems.

To encourage entrepreneurs, 15 members of Business Council gave their best advice to entrepreneurs who feel the pressure to be successful right away.

1. Give yourself enough runway

Companies usually take longer to take off than you might think; it is rarely a case of “build it and they will come.” If you don’t have the funding or prospects for financing and income to continue your business for at least two years, you may not be ready to take the plunge. It’s not the same as ‘failing quickly’, but not everyone can afford to fail repeatedly. – Daniel Altman, Instawork

2. Bet on your own vision of success

It may seem like others are shooting straight to the top, but that’s just the last leg of a much longer journey. Bet on your own vision of success and take consistent action to achieve it. Most people have great ideas, but few bring them to life because they can’t consistently execute them. People who look like an overnight success have been doing it almost every day for years. – Andrea Fryrear, Agile Sherpas Business Council is the leading growth and networking organization for entrepreneurs and leaders. Am I eligible?

3. Realize this is a long-term game

Entrepreneurs must first realize that this is a long-term game. You have to have patience. The wide range of channels to reach potential customers is a game changer, but a majority of entrepreneurs compare themselves to others. Do not do that! There will always be people for you. Just focus on your goals, be sincere, learn from failures, stay positive and never give up! – Todd Price, Circumference Roofing

4. Giving in to pressure can lead to mistakes

Collapsing under pressure to succeed is an instant failure. Anything worth anything takes time. The result of pressure is making the No. 1 mistake of raising money too quickly. Growing your business organically and learning what’s right and wrong takes time. You have to do it that way to understand your market. If you don’t learn lessons, you will feel pressure – it’s a warning that you don’t have a viable business. – Peter Strack, The Strack Group

5. Create your own paradigm of success

In this life it is useless to compare yourself to anyone else. The sooner you realize that you are the only competition, the sooner you can confidently do the things that will make you successful. I create a five-year vision of where I want to be professionally, personally and health-wise. Then I work towards that vision and create my own paradigm of success. – Joe Crandall, Greencastle Associates Consulting

6. Focus on steady growth

There is no shortcut to success. Every entrepreneur should focus on creating a sustainable business with steady growth rather than immediate results. Immediate results can be great for boosting your confidence, but if the strategy isn’t repeatable, you’ll soon struggle to grow and scale. – Sneha Lundia, Step2Growth

7. Determine what success means to you

Start by defining what success actually is and time-box it. Depending on the startup, developing a prototype, acquiring a single client or hiring your first employee within a certain time frame can be a good indicator that you are on the right track. – David Nugent, Next competition

8. Balance Passion, Perseverance and Purpose

Be patient. The entrepreneurial roller coaster is one laced with excitement, frustration and confusion. Be diligent about who you see as mentors in addition to potential customers of your product or service. Balancing passion, perseverance and purpose are key to how you present your “message” to your audience. Building a brand is paramount, and distinguishing your value proposition is key. – Pete Tseronis, Dots and Bridges LLC

9. Maintain a continuous feedback loop

First, you need to define your goals and make sure they match your definition of success. When implementing a strategy to achieve these goals, a key driver for which channel you pursue should be how quickly the existing entities in this space can match your potential competitive advantage. Provide a continuous feedback loop to determine growth, profitability and competitor response. – Charles Divencenzo , NAFA (National Fixed Annuity Association)

10. Embrace the pressure to be successful

Embrace the pressure to be successful quickly. It is real. If you can’t, turn. The secret of investors is that they expect you to do all the prospecting because you are hunting for the gold layer, and their job is to bring in the heavy, expensive equipment to get that gold out of the ground. Find the golden seam in your space, because no one will find it for you. Ideally, you’ll find him first, so the clock is ticking! – David Perry, carro

11. Don’t rush

The success of a business takes more than just a good idea and some money, it also takes time. You need to invest in every aspect of your business to make it a real success. Do not rush, because Rome was not built in a day and successes were not realized overnight. Invest in time, invest in people, invest in your mission and invest in your business. – Chase Flashman, ShipSigma

12. Partner with customers to scale

This new landscape of customer access and entrepreneurship unlocks the opportunity for customer/problem-driven innovation. This means you can actively work with customers to identify and resolve issues incrementally, while scaling your product and processes to support growth. While this approach is slower in the short term, it ensures a product market fit and long-term growth. – Joseph Knecht, Proteus

13. Meet customers where they are

Take the time to understand where your customers are and meet them there, be it on a golf course, by text or email. Reaching customers takes not only time and money, but also a willingness to understand who they are, what they care about and what pain points you relieve. When you can invest in learning, you build better customer relationships through channels that matter. – Emilia D’Anzica, Growth Molecules

14. Take risks and innovate

As an entrepreneur, it is your job to take risks and innovate. Sometimes those risks aren’t worth it, but that doesn’t mean you can’t turn things around and make them work in the end. If something doesn’t work as planned, adapt and try something new. You may be surprised at how quickly things can change if you are willing to adjust or change your approach. – Meg Yim, MSA Security

15. Do the Work

This isn’t the same as “wait your turn”, which I always hate myself, but when I see if I’ve actually performed at the level I expect results from, it becomes perfectly clear if my impatience is guaranteed. – Carson Porter, REV Agency Syndicate

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