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4 Ways to Overcome Entrepreneurial Anxiety

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entrepreneurial anxiety
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It’s natural to feel nervous about your business when you’ve poured everything into it, including time, money, and other resources. Your nerves, however, can escalate into crippling anxiety if not managed effectively.

Below are 4 ways for you to either manage or overcome entrepreneurial anxiety:

1. Know that your net-worth is different than your self-worth

You are not defined by the amount of money in your bank account. Cash flow is the lifeblood of your business, but that doesn’t mean that you have to define who you are by the amount of money that you have.

We live in an age where we subconsciously compare ourselves to others all day long through social media or in the midst of social interactions. Please don’t do this to yourself.

There are so many entrepreneurs online showing off flashy cars, homes, and first-class tickets. It can create anxiety to feel like you’re so much further behind than other entrepreneurs, but the truth is that entrepreneurship doesn’t have to only be about making money.

Entrepreneurship is also about solving problems and creating value with your idea, product, or service in society. Plus, how many of the entrepreneurs online posting images of luxury cars and homes are even legitimate?

“I’ve never been a conceited person or cocky, never felt boastful, but I always had a sense of self-worth; I always had a real sense of myself.” – Will Ferrell

2. Surround yourself with a tribe that loves and supports you

When issues arise in business, which they always do, it can feel like you’re alone. The pressure to handle everything on your own can be too much, and that’s why it’s important to develop a support system. It is not weakness to ask for help from others during difficult times.

Support systems come in may forms. You can build a team within your business that you can rely on to solve problems as they arise, or you can even create an external board of advisors.

You can seek out mentors who can help guide you at various crossroads in your business, or you can build a network of other entrepreneurs who may have experienced similar challenges.

Finally, never underestimate the importance of staying close to your family and friends. In many cases, true family and friends loved you before you started your business, and even if you don’t succeed, they’ll still be there for you.

3. Quit the 24/7/365 mentality

The hustle 24/7/365 mentality may work for some people, but taking time to recharge is healthy for your mind, body, soul and business. Whether that means taking a vacation or a day off, don’t feel guilty about taking time to reset.

Always remember that you are the most important asset in your business, and if you don’t take care of yourself, you create a massive risk for your business in the form of burnout.

To prevent burnout, take time to do things that you love other than working on your business. You can work out, eat healthy, spend time with family and friends, and more. You will likely notice that you feel more creative and motivated once you return to work.

“Take care of your body. It’s the only place you have to live.” – Jim Rohn

4. Learn to love failure as much as you love success

The fear of failure is enough to keep most entrepreneurs up at night, but the fact is that almost all of the entrepreneurs that society looks up to today have failed several times before achieving the success that they are now renowned for.

Failure is not the opposite of success, it is the stepping stone towards success, so you need to learn to embrace it.

Read up on your favorite entrepreneurs to see what their journey to success looked like. Know that if you fail, you can and should get back up and try again. See your short-term failures as learning lessons instead of obstacles and grow from them. This builds mental resilience, which is fundamental to long-term success.

Conclusion

Entrepreneurial anxiety is common, and there’s nothing wrong with feeling nervous about your business venture, regardless of which stage your business might be in. You can, however, take measures to help manage or overcome entrepreneurial anxiety.

Cultivating your mindset to embrace failure, not comparing yourself to other entrepreneurs, knowing the difference between your net-worth and self-worth, and maintaining at least some work-life balance can help establish the mental resilience you need to succeed.

Which one of these 4 ways resonated most with you and why?

Sania Khiljee is a serial entrepreneur and social media expert that has been featured in Forbes, Entrepreneur, Inc, Huffington Post, and more. Sania is the co-owner of a private school Kids R Kids in Katy, TX and is the founder of a subscription box called Bumble Brain Box, which she sold in 2017. She also owns Losers to Legends, which is a social media agency and training company. Losers to Legends started as a motivational movement on social media and has grown to over 1.4 million followers. Her blog saniakhiljee.com also covers topics such as motivation, entrepreneurship, and social media.

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Entrepreneurs

The Many Faces of Benjamin Franklin: A Masterclass in Versatile Leadership

Versatile leadership involves the ability to adapt communication as per the needs of others.

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benjamin franklin leadership

Versatile leadership involves the ability to adapt communication as per the needs of others.  It is different from situational leadership where the leaders have to adopt the strategies as per the situation.   (more…)

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10 Lucrative Buy and Sell Businesses to Start in 2024

The buy-and-sell business model provides opportunities across many niches

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Businesses to start in 2024

In the dynamic landscape of 2024, starting a business that capitalizes on buy-and-sell models can be incredibly lucrative. This article explores ten different models that entrepreneurs can consider. These ventures range from real estate flipping to trading in domains and luxury items, providing a broad spectrum of opportunities regardless of your initial capital or interest area.

1. Car Flipping

Flipping cars can be a very lucrative business venture for an individual with business acumen, an eye for value, and mechanically adept at cars. It involves buying under-priced cars, restoring, and selling them for a profit. For deeper insights and opportunities in this market, refer to sca.auction.

2. Real Estate Flipping

Flipping real estate—be it houses, condos, or even commercial properties—remains pretty solid business, especially in markets where real estate values are on the way up. Investors buy properties relatively low, do rehab or renovation, then sell at a profit.

The success of the area is endowed with a huge potential spotlight, the ability to juggle various elements such as local real estate market knowledge, and efficient management of renovations.

3. Vintage E-commerce

With the advent of technology, it became easy to sell vintage or retro items over the online selling platform. Be it clothes, furniture, or even collectibles, consumers these days prefer something unique that is eco-friendly and which may have a nostalgia quotient in it. Hence, it brings the opportunity to open an e-commerce shop effectively.

4. Domain Flipping

If you have the skill to predict catchy phrases or business names that would be popular in the future, then buying and selling domain names would be a very profitable business. Register prices are available to purchase domains, which later can be sold at high prices to interested parties or businesses that wish to get an early online identity.

5. Luxury Items

One of the most promising buy-and-sell businesses is the luxury market, and what makes it very attractive is its less sensitivity towards economic downturns. Some of the common items in the luxury market include high-end watches, jewelry, and art, rare cars, all with high yields. Most times, items do appreciate, especially when they are limited editions.

6. Sports Memorabilia

While the sports memorabilia trading business can at times seem lucrative, especially when one focuses on big personae or big events, authenticity and rarity can definitely help items fetch top dollar. Provenance and limited supply both go towards inflating their values.

7. Sneaker Reselling

In recent years, the sneaker resale market has exploded, fueled by a commodity of scarce releases and athletic brand collaborations with a list of celebrities. Today, with operations such as StockX and GOAT, it’s really that easy to break into the worldwide market. It’s pretty easy to find your buyers and make a very good profit if you’re targeting the right trend and releases.

8. Book Flipping

Flipping rare and first editions can become a really meaningful, and yes, one more profitable, business for a book lover. Sometimes the signed ones, rare manuscripts, or those early editions of famous novels could sell for thousands of dollars, usually done by collectors or academic institutions.

9. Furniture Upcycling

Upcycling furniture consists of restoring and using second-hand furniture to sell it at a higher price. For the environmentally aware consumer, this business model has great appeal. It could be pretty profitable if done with good taste and talent in design and restoration.

10. Electronics Flipping

Smartphones, tablets, and laptops resell at values significantly high; hence, business ensues. Buy, refurbish, and sell in better condition to appeal to budget-minded consumers looking for technology at more affordable price points. 

Overall, The buy-and-sell business model provides opportunities across many niches. Be it real estate flipping or vintage item upcycling, you can succeed in both models with market understanding and trend application. That, with careful planning and strategic investment, will throw huge financial returns for these business models in 2024.

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Did you know that companies that master big data can outmaneuver competitors by 85% in sales

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big data strategy

Did you know that companies that master big data can outmaneuver competitors by 85% in sales and more than 25% in gross margins? Sounds inspiring, right? But the thing is that data alone isn’t enough. Rather, it’s the strategy behind it that unlocks these enviable boosts. So, this article explores how to make the most out of your big data and build a strategy that’s functional and competitive. (more…)

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Most Entrepreneurs Fail to Do This and It’s Killing Their Success

Celebrating progress also provides entrepreneurs with the psychological sustenance needed to endure the marathon of building a business

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