Smart Entrepreneurs Commit to These 6 Things
If ‘entrepreneur’ is how you’ll describe yourself, we salute you! It takes guts to take on the big risk of building a business. You know your main goal of having an established brand is probably still far off. So, how do you make sure you get there?
Many experts promote the idea of not expecting big leaps but committing to continually doing small things in the correct way. This can range from creating the right look with wearing your work polos to finding the best way to work with your team—or your business partners.
Even well-known names like Elon Musk value advice like the tips below, so why not see how you can incorporate it into your business style?
Improving How You Manage Your Team
It’s your vision but you need your team to get you there. Unhappy or unfulfilled workers can lead to low productivity or high employee turnover, which means spending more to train the new members. So you need a healthy team! Even Richard Branson values team dynamics.
Firstly, make sure your team understands your goal. This will help them have a sense of purpose and know how to prioritise tasks to assist you in getting to your goal faster.
You should also prioritise having good relationships with them and helping them feel valued. This will add to their positive mindset at work, resulting in a healthier work environment and improved work delivery.
Also, just because it’s your dream, don’t try and do everything yourself. The skill of delegating to others is an integral part of getting things done and scaling your business.
Welcoming—and Learn from—Mistakes
No business comes without risk. In today’s competitive market you have no guarantee that your ideas will work or bring in the cash you dream of. You need to be realistic about this but more than that lean into the possibility of failure or at least of making a few mistakes along the way. But don’t just MAKE them! You need to LEARN from your mistakes in order to become better at what you do.
When something goes wrong, journal about it or talk to a business coach so you can understand the lesson and do better the next time.
Finding the Silver Lining
Since things WILL go wrong, as an entrepreneur you can’t expect to only have good, happy days. And as leader of your team it’s up to you to be the example and keep spirits up at the office. Staying positive is a high value for leaders like Elon Musk.
For example, something going wrong should be seen as an opportunity to learn, rather than a failure for your brand.
Revise, Revise, Revise Your Elevator Pitch
Throughout your journey of being an entrepreneur you’ll meet people and talk about your business. Rather, it’s VITAL you engage and network, so you should actively seek out opportunities to discuss your brand with others. This can be online in forums or in person at small business gatherings or by attending a workshop related to your industry.
But what will you tell others about your business?
During these meetings you may come across that one person that partners with you or invests the capital that helps you grow. But this only happens if that party becomes passionate about your idea and that requires a very impressive elevator pitch.
Important note: talking passionately about your business isn’t enough. You need to:
- Find a concise way to share the most important facts about your business in 30 seconds or less.
- Write it down.
- Delete all unnecessary information, so you have the perfect way to present your brand to someone in words.
- Practice that speech so you can share it even under pressure or when in a rush.
Let your first impression be the best possible one!
Changing How You—and Others—See You
Part of having a business should also be to become a person of influence. Be the one others in your industry turn to for advice!
Of course, this requires insight on a certain topic, so improving your existing skills is a good investment. Or you can start teaching others regarding your skills and strength to show your value for the industry. These days, online webinars make this so easy.
Don’t forget that visual impressions also matter, so you need to look good doing what you’re doing. You don’t have to wear a suit and tie necessarily but wearing quality work polos or other comfortable but stylish work attire will spark respect in your audience. And you’ll feel good about yourself when you look good, which can make you seem more confident when engaging with others.
As a last tip, once again take Elon Musk’s advice and do whatever you can to improve workflows on site:
- Have fewer meetings
- Improve communication between individuals and departments
- Make sure employees have the resources to perform their tasks well
See? It’s very possible to realise your dream of being a business mogul—or simply having a small business that’s fun to manage while earning enough to enjoy life. But you do need to commit to a few habits. Which of the areas above do you need the most improvement in? And what advice will you give other entrepreneurs? Please share with us!