How To Live Based On My Entrepreneurship Journey
Entrepreneurship might not be as easy as many people think. Many who are in this field have encounters hardships and difficulties that prolonged their journey towards success. While others have a different journey, for them it was a sure thing from the first try. My journey was the former. I had to take every experience as a lesson and learn from my mistakes.
Over the years, I have amassed quite a number of lessons that are sure to help you in your own entrepreneurial endeavors.
Simplicity in Innovation
For a while there, it occurred to me that I needed to be bold and try doing things differently than others. I needed to be innovative and launch out to realize my dreams.
I analyzed several other businesses including Dollar Shave Club, Pillows.com and OraBrush. Dollar Shave Club was about providing a more cost-efficient way for men to get a tool that they used on a daily basis. While Pillows.com came out of the desperate need to buy hotel pillows, but they were impossible to find. OraBrush was developed to assist those people who struggled with bad breath, using an easy to use a tongue scraper.
These are innovative approaches, which were developed from meeting simple needs.
Seize The Moment
If you are like me, then there have been quite a few moments, where you have had a grand idea, but simply visualized the application and how it could be beneficial; over thinking the possible contingencies. Yes, this has its place; however, at some point it is best to try it out.
Start by fabricating your idea and putting it through rigorous testing to see how it performs. Think about various ways by which it can be assembled, in the simplest ways; then bring on board some testers. Based on the feedback make alterations to the product until it is the functional adeptly and ready to be introduced to the marketplace. Listen to the responses and use them to their best advantage.
Have Short-Term Goals
Remember when you were studying business, or taking some program and you were required to develop a business plan? Back then, business plans covered five and ten-year terms. However, with such constant changes to the business landscape, how can this be applied now?
Have these plans as guidelines, however, be prepared to adjust and implement the necessary changes as the need arises in the short term. That means having sub-plans for six to twelve-month terms. Do not waste time on inflexible plans. Your strategies must be able to accommodate the ever-changing landscape.
Enjoy The Spoils Of Your Hard Work
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What is the sense of working 80-hour weeks on your own business but having no time to enjoy the fruits of your labor? We understand that building a business requires long hours and dedication, even more so than your employees will give.
On the other hand, you do not want to sacrifice the other things that matter in your life. These include your family and your health. Take time to have fun, indulge and spend time with your family.
What value will be there at the end of the day if you lose your business or come to the end of your life, not having a family to turn to?
Whether you become insanely rich and more time is demanded, learn to set aside time for these important elements in your life. Balance is essential. It makes no sense if you are burnt out and stressed all the time. You will make other people’s lives difficult and not be at the optimum level to function.
So take time off; go on vacation. Set aside a time each week to relax and distress. Do so with close friends and family.
Being an entrepreneur can be all-consuming, however, learn to implement these strategies to have a more fulfilling experience of your success.