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No Guts, No Glory! Leadership Tips For Entrepreneurs
Let’s get real. Entrepreneurship is not for the faint of heart. Some have the stomach for it, most don’t. What separates a true Entrepreneur from the dreamers is the willingness to take the first step, which usually involves spending and risking your own money. Just a comfortable notion. Knowing what you’re doing, what you’re getting into helps alleviate some of the anxiety. When it comes to going after what you love in life, entrepreneurs don’t take no for an answer. The true Entrepreneur understands the risk versus reward ratio, and lives by the motto… “No Guts, No Glory!”
Learning from people who have already “been, done that” is the best resource available. But at the end of the day, someone else’s experience won’t launch your company. It takes fire in your belly, passion and drive, and a deep and persistent belief in your idea and in yourself. Anything less will keep you afloat in the turbulent waters that threaten an infant business. Over the next few months, we’ll be looking at ways to optimize the odds for your startup’s success. Stay tuned for more “NO GUTS, NO GLORY!” articles and advice for aspiring Entrepreneurs based on interviews with successful Entrepreneurs.
Tip #1: When in doubt, just take a small step forward.
Believe in yourself. This is the first rule of entrepreneurship. There are enough obstacles to start a business without doubting your abilities. Once doubt creeps in, rash and ill-considered decisions are made. Vision loses fire and energy. Fear and doubt have a smell, and people can smell it. It is a natural repellent for investors or potential customers. It’s normal to be anxious when embarking on a new venture… but don’t let it show that you’re sweating!
You are so protective of your idea that you are not even willing to ask for feedback from your closest friends and family. Stop! Don’t be too proud or scared to ask for help. That’s what family and friends are for, to listen to your crazy ideas. Even if you do not see your vision, the article helps to refine and strengthen it in your own mind.
Often the biggest impediment to moving forward is the clutter in your head. Get rid of all that unnecessary baggage, it will only weigh you down. Live in the moment. Yesterday it’s a canceled check, tomorrow it’s a package – today it’s cash!
Tip #2: Grow a thick skin.
Take a deep breath. Calms the mind. As Entrepreneurs we already have leadership tendencies, but we confuse that impulse with the need to dictate the vision and struggle to maintain its sanctity. Stop! Not every conversation has to end with a kiss. Don’t let business become personal. It is bad practice that leads to wrong decisions. Learn to yield, listen, and agree to disagree when the occasion calls. Also, if presented with an unfavorable deal, walk away. Leadership isn’t about being right, it’s about achieving goals.
After all, a successful colleague once said, “If I’m the smartest guy in the room, my business is in trouble.” Hire talented people and let them shine.
Learn to laugh things off. Time heals all wounds. Give time, time. Everyone makes mistakes, so ask yourself “in five years, will this matter?” Probably not in most cases. Life is too short to waste time being angry and upset. Plus, it’s a bad deal to let someone else live rent free in your head.
Tip #3: Don’t compare your situation to others.
If we have all our problems in a pile and see everyone else’s, we will pick up our own.
Often, when the work is overwhelming and nothing goes well, we tend to feel like a victim, wishing that we never started the business. We can be envious of another’s success. Stop! You have no idea what his journey has been. Envy is worse than a waste of time—it’s a corrosive practice that blinds you to the blessings in your life. You have everything you need to discover your own potential. At this point, go to a trusted friend who has started a business, and have a frank conversation about your situation. Vent with someone. It’s much better than licking your wounds in solitude.
All Entrepreneurs have gone through what you have experienced, and most are happy to share a guide. One of the moral imperatives of success is to lend a hand to the next Entrepreneur to come, to mentor and inspire future generations of Entrepreneurs. Seek expert advice.
Tip #4: Over-prepare, then go with the flow.
No matter how good or bad a situation is, one thing is certain – it will change. Therefore, the best course of action is to prepare for any eventuality. Commit your game plan to memory, then execute it in all possible scenarios that may occur. I hope you do not face the most terrible problems that some start-ups encounter, but being prepared is the best way to fight adversity and support the prosperity of a company. And when faced with a tough decision, don’t agonize. A good plan today is better than a perfect plan tomorrow.
As you go with the flow, new ideas will emerge. Share the credit. Does it really matter where a good idea comes from? Be grateful for any contribution to your company’s success, and acknowledge the source. Ignore the envious, the naysayers. Celebrate the idea because sometimes you are the only one who will do it. Be the champion of the idea.
Tip #5: Don’t take yourself too seriously.
Come on, this is meant to be fun. This is what you always wanted. So it shows. Smile, it’s contagious. Simplify. Some say it’s “lonely at the top”. Yes, you are a tyrant, a bully, or a real pain in the neck. But if you respect your employees, treat them like family; running a business can be fun. It’s all a matter of your approach and attitude. If you go with the mentality that you are the “boss”, then it will be a lonely road, but if you go with the design you are the leader of a team and the inspiration behind the plan, then you will create an environment. which promotes growth and prosperity. Let people feel empowered, a sense of ownership, and a sense of belonging and being needed.
Confidence is important. Even if you don’t feel confident, fake it. Trust breeds loyalty, excitement and productivity, which are contagious. Panic and fear will result in chaos, which will ultimately destroy your business.
In conclusion, I leave you with this…being eccentric now. Don’t wait until old age to have blue hair. Now go out and have fun. Good luck. Remember, “No Guts, No Glory!”
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