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5 Promises Entrepreneurs Should Make for a Robust Business

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I remember reading a brilliant piece titled “The Psychological Price of Entrepreneurship”. It resonates because it forces us to look at entrepreneurship for what it really is. It talks about the secret demons, we entrepreneurs carry within us. Entrepreneurship is a scary territory because it is filled with doubt. And here, erring gets easily magnified because everything is out there for everyone to see.

But, as entrepreneurs, we all share a common passion and love for what we do. So despite all the fear, we take the plunge because we want to leave great stories behind us.

In this journey, there are some promises that can make life easier. So let’s make these promises together:

1. I will acknowledge failure and learn from my mistakes

50% of all new business fail within five years. Such failure is more likely to happen when you don’t learn from your past. In your entrepreneurial journey, failure is bound to show up. And it can be crushing, especially when it comes unannounced.

So the first promise you should make yourself is this: “I will acknowledge my mistakes and learn from them.” Letting your mistakes create inconsistency problems is bad for your business. Remember that failing isn’t bad so long as you don’t get stuck. So when you encounter failure, be quick to move on. And carry your lessons with you.

“Do not be embarrassed by your failures, learn from them and start again.” – Richard Branson

2. I will be a better listener

The entrepreneurial landscape often stresses on the importance of good public speaking. But it is crucial to remember that great leaders are team players, and they always listen. Listening helps you see things from a different perspective. And in business, this is important.

When you are just starting out, you may view yourself as the only point of command, however, every business, big or small, is run by a team of people working together. Each person adds his/her own value.

Listening helps you understand the intricacies of your business- the problems, the challenges and even the good side. This helps you fine-tune your strategies in a way that is more meaningful to your audience. So, promise to listen to your inner hunches. Promise to listen to your investors, your teammates, your customers.

3. I will be flexible and open to change

It is important to learn to embrace change at the right time. If your idea doesn’t have fruitful translations for the industry, it might be time to bring a change. This change can be in the form of rebranding or something more drastic, like chucking the actual idea and building your business on a different one.

Change comes with its own set of challenges, but well-executed change creates better results. There are several stories of successful pivots in the startup history. Twitter, for instance, started its life as Odeo which was a podcast subscription network. A few months later, Apple announced that iTunes  will have an inbuilt podcasting platform. Competing against an established brand was a big risk so Odeo took Twitter as a side project; the same Twitter which now has 330 million monthly active users.

4. I will create long-term strategies

As an entrepreneur, you are a part of a marathon, not a sprint. From scattering the seeds of your business to finding visibility and getting real results, the journey can be long and arduous. In order to build your brand, you need to create long-term plans which are based on a certain set of values.

Think of Apple, from its very inception, Apple promised to deliver something that has elegance and simplicity. And those core values are still intact. When you think long-term, you are more likely to emerge as thought leaders who shape industry trends. Additionally, long term thinking helps in brand positioning as it helps you craft strategies which make your brand memorable.

“Success does not consist in never making mistakes but in never making the same one a second time.” – George Bernard Shaw

5. I will stay curious

Entrepreneurship is risky and it may seem a good idea to stick to what you know, but that defeats the very purpose of taking the risk. Also, this mindset prevents you from finding good opportunities because your field of view becomes narrow.

Learning new things helps you to see the various possibilities that exist and reap benefits from it. The dynamics of almost every industry keep changing and there is a constant need to adapt. And adaptation becomes easier when you are curious. Curiosity demands time but the investment is always worth it. So promise to learn something new every day and get out of your comfort zone.

Promises, small or big, mean a lot when they are centered around things we love. These promises ultimately become our driving force. So, let’s pledge to listen more, be more flexible and keep our curiosity alive. Also, let’s make sure to learn from mistakes instead of taking them as setbacks and use them as stepping stones to success.

What promise are you going to make today? Share with us below!

Deepasha Kakkar is a visual marketer, founder of Crackitt, and a consumer behavior aficionado. She helps businesses & organizations hone their identities, craft their brands, and share their truths using beautiful handmade animated videos and compelling infographics. You can connect with her on LinkedIn.

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Business

The Entrepreneur’s Reading List That Transforms Ideas Into Empires

These must-read titles and writing insights reveal how entrepreneurs turn bold ideas into empire-level success.

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top entrepreneurship books for business growth
Image Credit: Midjourney

Entrepreneurship is powered by stories—of accomplishment, failure, and decision moments that define businesses. Books are maps, providing insight from individuals who’ve traversed the road ahead. (more…)

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Entrepreneurs

The Leadership Shift Every Company Needs in 2025

Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

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Bridging the gap between employees and employers
Image Credit: Midjourney

In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.

Why This Gap Exists

Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.

What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.

1. Practice Mutual Empathy

Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.

2. Maintain Professional Boundaries

Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.

3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.

7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.

9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

  • Build diverse talent pipelines

  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

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Entrepreneurs

What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators

Inside the mindset of entrepreneurial leaders who transform risk, passion, and vision into world-changing results.

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When you think of Richard Branson (Virgin Group), Bill Gates (Microsoft), Steve Jobs (Apple), Rupert Murdoch (News Corporation), and Ted Turner (CNN), one thing becomes clear: they are not just entrepreneurs, they are entrepreneurial leaders. (more…)

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Entrepreneurs

Building a Business Empire: Lessons from the World’s Boldest Entrepreneurs

Learn essential lessons, success strategies, and mindset shifts every aspiring entrepreneur needs to overcome challenges and build a thriving business.

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how to build a business empire
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Back in July 2017, I attended a business seminar on entrepreneurship in India. With my appetite for learning and meeting new people, I wanted to explore the latest developments in the entrepreneurial world. (more…)

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