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6 Ways To Overcome Your Fear Of Failure As A Startup Entrepreneur

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startup entrepreneur

Many would-be entrepreneurs let their fear of failure stop them from starting a business. Maybe it’s because of all the statistics we’ve heard (you know, the ones that tell us that 90% of all new businesses fail within 3 years, or something along those lines).  

There are many reasons why a business fails (and just so you know, it’s not the end of the world when it does), but the fear of failure alone should never be enough to justify not starting one. It is perfectly natural to have feelings of uncertainty about what you’re getting yourself into as you become an entrepreneur. The trick is to not let those feelings paralyze you and keep you from taking action.  

The only way to truly overcome a fear is to face it. You must decide to take action in spite of your fear. Yes, that fear will reappear from time to time, but the good news is you can learn to ignore it and stay focused on building your dream.

Here are 6 strategies to help you overcome your fear of failure as a startup entrepreneur:

1. Redefine what it means to fail

One of the main reasons why many aspiring entrepreneurs allow the fear of failure to stop them from starting their business is because they view failure as something that is negative. Interestingly enough, if you study the lives of successful entrepreneurs you will discover that in most cases their careers were riddled with “failures” before they succeeded.

Failure is not the opposite of success. It is a part of successA failure is nothing more than a result that you get that you do not want. It is neither good nor bad, it is just feedback. By learning from feedback, and continuing to take action and make decisions that produce more feedback, you eventually learn precisely the lessons you need to learn to earn your success.

“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas Edison

2. Stop comparing yourself to others

Every industry has a select group of individuals and companies that rise to the top of that industry. One of the most effective ways to succeed quickly is to learn from their approaches and emulate them. In fact, it is wise to study the successes (and the failures) of entrepreneurs in general, regardless of what business or industry they are in. Just be careful not to compare yourself to them.

In order to build a unique business, you must hold on to your uniqueness as an individual. It is unwise to compare yourself to others for the simple reason that you are not them, and you shouldn’t try to be them either. Admire the success of others, but don’t envy them. Respect the results that other entrepreneurs are able to create, but focus your attention on the results that you want to create.

 

3. Just keep going

Another effective way to overcome your fear of failure is to take action in spite of fear. When doubts, fears, or any other negative thoughts enter your mind just stay focused on taking action. Fear is a common feeling when you do things you have never done before. When you try something new, you leave your comfort zone – you enter the unknown. But instead of retreating back to your comfort zone whenever you feel fear, embrace that fear and praise yourself for having the courage to step into a new, unfamiliar experience.

By facing your fear head on, and continuing to take action, your comfort zone expands and eventually that new experience becomes a familiar experience and the fear will subside. Successful entrepreneurs have learned to use fear as a motivator to keep moving forward. Whether it’s the fear of failure, the fear of rejection, the fear of mediocrity, or the fear of poverty, they purposely use that fear to fuel their motivation to succeed.

“I’ve failed over and over again in my life. And that is why I succeed.” – Michael Jordan

4. Don’t focus on problems, find solutions

Never forget that businesses exist to provide products or services that solve specific problems to the marketplace. To succeed as an entrepreneur, you must learn to embrace problems, but not focus on them. Learn to perceive every problem as an opportunity to create a solution, to fill an unfilled need.

If your employees are complaining about specific challenges, there may be an opportunity there. If your customers are having challenges in certain areas or with certain products, there may be an opportunity there. If your suppliers are complaining about something, there may be an opportunity there. The more problems that you and your business are able to solve, and the more people you are able to solve them for, the more you will be rewarded (financially and otherwise) for providing those solutions.

 

5. Stay positive

Another important point for overcoming your fear of failure as a startup entrepreneur is to maintain a positive attitude always. As a leader of an organization and as the visionary for the future of your business, you must remain focused on the possibilities of the future and not so much the challenges of the present.

Expect setbacks and obstacles and know that overcoming them are the price you must pay to succeed. Your team will be looking to you for encouragement during difficult times, and so you must never fail to display a positive, optimistic attitude.

Keep in mind that a positive attitude alone will not be enough to save your business from failing (would a positive attitude alone have saved Blockbuster from failing as Netflix emerged?). It is important to acknowledge market conditions for your business and face certain facts that may not be ideal. You must operate from objective reality, but lean on your positive attitude to look for the hidden opportunities within that reality.

“Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.” – Robert T. Kiyosaki

6. Start small and count your successes

The final strategy for overcoming your fear of failure is to start small, achieve positive results, and build on that momentum. You may have the expression “go big or go home”. Many people have used this expression to justify taking massive action or taking no action at all. In some scenarios this is a wise approach, but for many startup entrepreneurs it is better to begin with smaller goals – goals such as setting up your website, launching a crowdfunding campaign, or acquiring your first customer – and then building on those successes.

Success breeds success. By consistently achieving positive results on a smaller scale, you build momentum. That momentum is what will help to create the larger successes later.

How do you overcome your fear of failure as a startup entrepreneur? Please leave your thoughts in the comment section below!

Tyler Basu is the Author of the #1 Amazon Bestselling book Lifestyle Business Blueprint, and the Publisher & Editor of Lifestyle Business Magazine, a digital magazine for lifestyle entrepreneurs. He also hosts the Lifestyle Business Magazine Podcast. To get in touch with Tyler visit www.tylerbasu.com.

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7 Comments

7 Comments

  1. Gemma Reeves

    Dec 7, 2016 at 12:49 am

    You will encounter a lot of challenges when you put up a startup business. However, you should bear in mind that you don’t need to face these trials alone. You can either ask a friend or relative for advice. You can also learn from experts by watching videos or reading articles about their experiences.

  2. Yeezy 350

    Sep 6, 2016 at 2:58 am

    It’s hard to come by educated people on this topic, but you sound like you know
    what you’re talking about! Thanks

  3. รับพนันกีฬา

    Jul 10, 2016 at 7:04 pm

    Thanks for finally writing about >6 Ways To Overcome Your Fear Of Failure As A Startup Entrepreneur <Liked it!

  4. Danielle Bentley

    Mar 25, 2016 at 1:23 am

    For me my biggest problem is staying focused as I easily get side tracked and move onto something else. So the part about just keep on going is especially important to me. Thanks for sharing.

    • Tyler Basu

      Mar 26, 2016 at 8:59 pm

      No problem Danielle, I’m glad you enjoyed it!

  5. Evan

    Mar 23, 2016 at 6:49 am

    Tyler,

    Nice article here man! I love the first point about failure.

    I just read something that framed failure as paying for a lesson! That’s all it was, and like Edison patenting all of his ‘failures’, we can gain so much from every time we learn and mess up.

    Glad you put that one up front because I also think this is a big reason people don’t take the necessary risks and put themselves out there, because our education system designed failure to be bad, by giving us grades when we got different answers. It’s helpful to an extent, but certainly not in entrepreneurship.

    Keep up your good work

    – Evan

    • Tyler Basu

      Mar 23, 2016 at 6:43 pm

      Hey Evan thanks for leaving a comment! I am glad to know that you enjoyed this article, especially the first point. I agree with you – the educational system does make us feel bad about making mistakes. But in business (and maybe in life in general?) mistakes are how we learn. If you’re never making a mistake you can’t be learning much…

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Entrepreneurs

10 “Brick-In-The-Head” Moments You’ll Encounter as an Entrepreneur

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The entrepreneurial life is one of the most challenging, stressful and risky avenues to success you could possibly choose. The issue with doing it alone in business ventures is exactly that; you’re alone. To be a successful entrepreneur, you have to be driven, thick-skinned, and ready for any curve balls.

Here is a list of 10 ‘brick-in-the-head’ moments you’ll need to overcome on your path to becoming a market leader:

1. Letting criticism get to you

The ways society deals with ambition and success is very odd, and you may feel like you’re unfairly criticised by your peers regularly. The reality is that you’ll encounter plenty of jealousy and bitterness during the course of your career.

This isn’t to say that all criticism is malicious – constructive critique can go a long way. But remember that nobody understands your vision better than you. Remember that the art of good entrepreneurship is to delve where nobody else is willing to go.

When Bill Gates decided to offer his Internet Explorer browser as a free package with his Operating Systems in 1995, it was considered a counter-intuitive move by some, but ended up being the cornerstone for Microsoft’s resounding dominance.

2. The temptation of ignoring constructive criticism

While it’s worth adopting a thick skin to allow unjust criticism to bounce off of you, it’s also important to know when to take it on board and consider constructive comments. As you’re taking the leap into controlling your own business, sometimes it can become too easy to concentrate on the nuances of your work and miss the bigger picture. Take the time to consider advice that you are offered – if it fits in with your vision, then it may be worth taking.

3. Keeping on top of your cash flow

Making sure you’re focused on your finances is one of the biggest parts of being an entrepreneur – after all, it’s all about making money.

If you’re worried about your cash flow, then it’s probably a good sign. All entrepreneurs struggle with money at times in their careers – and so if you don’t keep an eye on your figures then you risk showing signs of complacency. If your figures are really getting to you, then it might be a good idea to skim through your finances and start saving cents here and there.

4. Facing the unknown

One of the most anxiety-inducing moments is being kept up all night wondering which way your venture’s going to go. Entrepreneurship is a volatile career, and coming to terms with the unknown is a big part of the life that comes with it.

Prevention is better than a cure when it comes to dealing with the uncertainty of building businesses. Try to manage your resources well – it could save a lot of worrying a little bit further down the line.

“Many times, the thought of fear itself is greater than what it is we fear.” – Idowu Koyenikan

5. Abandoning your previous career or education

Often the first step on your path to success can be the most difficult and stressful. You could be leaving a comfortable job, or abandoning your studies to go and pursue an idea that, no matter how good, is not guaranteed success.

Here it’s once again advisable to make sure only you have the final word on the route you take in life. Be sure to listen to the advice that those close to you have to offer but just remember that the choice is yours.

6. Time management

Difficulties with time management can be a big cause of stress when setting up your own business.

The most stressful aspect of this could be that you neglect other parts of your life in order to oversee the successful running of the company.

Juggling your time is perhaps the primary problem that is faced by entrepreneurs. You have to make sure you focus on your output, marketing and networking all at the same time, which can get overwhelming.

Here, the best remedy is to keep records of your tasks and goals using available tools. One should set rotas of where to invest their time and attention over the course of a coming week. It might not seem like much, but it could lift a heavy burden off of your head.

7. Making the right decisions

As an entrepreneur, the significance of the decisions you make could mean life or death for your business. This burden can weigh you down heavily. Remember the very best in the industry make the wrong decisions, and many of the greatest entrepreneurs today have gotten into the position they’re in through trial and error.

The markets are often volatile, and extraneous circumstances which could never be accounted for can come into play. One must find a way of coping with the process of making company defining decisions, and once you’ve become confident enough to take big decisions in your stride, you’ll be well on the way to industry success.

8. Staying true to your vision

Things have a habit of changing very quickly in business. You’ll need to adapt to the ever-shifting sands and stay true to your vision. Sometimes this is easier said than done. Construct a mission statement for your business that you can refer back to in order to hold on to the reason you decided to pursue your idea in the first place. Sometimes seeing what you’re working towards written down can be enough to keep you focused on your goals.

“You have to understand your own personal DNA. Don’t do things because I do them or Steve Jobs or Mark Cuban tried it. You need to know your personal brand and stay true to it.” – Gary Vaynerchuk

9. Team building

Here it’s important to recruit not only the most skilled candidate but the candidate that’ll best fit into your vision for the office culture. Sometimes finding a confident and engaging candidate is a critical factor in recruiting for a job that requires plenty of teamwork and client interaction. The best course of action for lowering the stress of team building is to look for candidates that express themselves in a way that fits the business work ethic best.

10. Dealing with failure

Virtually every entrepreneur has to face the prospect of failure at multiple points in their career. The best way to avoid becoming bogged down by an unsuccessful business is to see it as an exercise in trial and error. Learn from your mistakes, and if your startup has failed, what caused it to fail?

Welcome failure as a valuable learning tool, and jump back into the industry you desire to improve. Improve your original idea or find another one because the life of a successful entrepreneur is built on plenty of experiences and lessons – many of which were learnt the hard way.

What other encounters have you had as an entrepreneur? Comment Below!

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5 Things You Must Have in Order to Succeed as a Freelancer

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Up until about 3 years ago, I honestly had no idea what a freelancer even was. It sounded like a cool job title and I secretly envied people who could call themselves one. Didn’t they get to travel the world with a laptop and go sailing and sip margaritas beside some of the most beautiful beaches on the planet? Yup, I wanted to be a freelancer.

I wanted in on this action. I had no idea what I was getting myself into, but I was sure I could pull this off, couldn’t I?

The Mystery Slowly Unravelled

And so began the digging and sniffing around. The more research I did, the more I realized this wasn’t for the faint of heart. I took in as many blogs and pdf’s as I could. I watched YouTube tutorials until my eyes bled. I took in everything I could about it.

I decided that I could easily become a freelance writer. I got good writing skills (did you catch that?) thanks to so many letters written to ex boyfriends behaving badly, and my journal. Yup, I could definitely be a writer.

So now what? Now the real work begins. So you want to be a writer, huh? Get ready girl. You have tons of work ahead of you. Little did I know.

Can’t I just tell stories?

I just wanted to write about all my crazy life stories ‘cause Lord knows I have a million. Surely someone will want to read them, no? Isn’t writing and blogging just about telling stories of how you had some ridiculous upheaval and how you overcame it? I can write about that until the cows come home.

I was determined to write these stories and send them out to anyone, everyone and no one. I hit up all the high authority sites right away. No small fry stuff for this girl. I have great stories and someone needs to read them.

“The work never matches the dream of perfection the artist has to start with.” – William Faulkner

Was I in for a surprise

Apparently not everyone wants to read your stories. Apparently not everyone thinks your stories are great. Apparently not everyone thinks you’re a good writer. I thought this freelance writing stuff would come easy. I can write dammit and I’m friggin’ good at it! They’ll see.

It just didn’t work like that. As I worked my regular full time day job as a hairstylist I continued to write my heart out, before and after work, determined to leave this life behind and become a freelance writer. Little did I know. 8 months of cutting hair and blogging for free taught me many many things about myself and the freelance world.

Here are the 5 things you better have if you want to make it as a freelancer:

1. Determination

You must be all in or all out. There is no in between. You can’t let up or stop for one single minute. You want to be a freelancer, you must give it 100%. This gig isn’t for half assers or sissies. Nope. Only the hardcore, diehard peeps with a strong deep desire for a life of freedom will make it here. There is no giving up. Ever.

2. Passion

If you don’t feel it, you won’t be able to do it. It has to come from deep down in your heart, soul and belly. The reason you want to do this must consume you (and the reason should be more than just money). You should be eating, living and breathing this passion you have to become a freelancer otherwise you’re already doing it for the wrong reasons and you won’t be happy. Trust me on that one.

3. Persistence

Never ever give up and don’t take no for an answer. If a million people say no to you, remember someone is going to say yes. If someone said no a million times keep at it. Figure out what you did wrong and polish up your skills (all the no’s will give you ample opportunity to do just that).

“Writing is an exploration. You start from nothing and learn as you go.” – E.L. Doctorow

4. Open mindedness

Stay open to learning new things. Stay open to networking and connecting with others. You will need to collaborate with other bloggers and people who are already doing this for a living in order to learn. You will need to throw your net out far and wide and take in all sorts of wondrous tools. Get ready to step way out of your comfort zone.

5. Confidence

This was a biggie for me. I was pitbull, determined to make it so no amount of no’s was going to get in my way. There were some days I honestly did feel like throwing in the towel (we all have days like that) but I would brush off my butt and lick my wounded ego and keep at it. Have confidence in your skills. Just because 10 people don’t want your stuff doesn’t mean there isn’t 10 out there who do! Remember that. You ARE good at what you do.

Do you have what it takes? Of course you do! It took me almost 9 months before I finally cracked the freelance world and another year to become a full time freelancer. There is no try and there is no giving up. I always tell people, if I can do it, so can you.

What are the obstacles you’re facing right now as a freelance? Comment below!

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5 Crucial Skills to Take Your Business and Relationships to New Heights

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Our personal relationships are very powerful and provide us with a crash course of exponential growth both personally and professionally. You learn an exceptional amount of information about who you are as a person, how you communicate, manage your emotions and discover traits you were blissfully unaware of.

Of course everyone wants to hear the beautiful love story you so often hear from others. Man and woman meet, fall madly in love, get married and live happily ever after. However, as we all know the fairytale ending is no guarantee.

I met a spontaneous, generous, successful and much older businessman and we dated for a short period of time. I was deliriously happy and determined for everything to turn out perfectly. As expected, he had mastered the art of knowing all the right buttons to push and exactly the right words to say.

I can compare this experience to a going for a long drive in the country. I was speeding down the highway of life, aiming to maintain my complete denial of everything happening around me. To the point that I missed every stop sign, damaged the car from all of the potholes I failed to navigate, and I had several minor accidents along the way.  You name it, I ignored every single red flag that was saying take a detour, choose a different road and look the other way, keep moving forward yet choose a different direction.

Unfortunately, it all came to a grinding halt, when the car burst into flames in the middle of a local National Park causing a wild bushfire. This analogy clearly illustrates the ending of this relationship and the danger of becoming obsessed with a personal goal to the point where it sabotages all your efforts to attain your goal and safely reach your destination.

The brilliant news is that this crash course of exponential growth led to pivotal business lessons that can also help you achieve outstanding results this year. The 5 key business lessons you can develop include:

1. Individual Connection vs Wolf Pack

Be mindful and understand the differences between communicating well with an individual and a team otherwise known as a wolf pack. Notice the differences in the communication, it can be very different. An individual interaction may be far easier than dealing with the wolfpack or vice versa. Pay attention when in both scenarios as it will be highly beneficial for professional career and help you to enhance both new and existing professional relationships.

2. Monumental Giving

Wow, I thought I was a generous person however I quickly realized I had more work to do in this area. This man raised a lot of funds for charities that were close to his heart both personally and via his businesses and he was very proud of his achievement as he should be.

What I liked the most however was the way he built the company culture although he was well renowned for his tough exterior, he did go out of his way to be generous to employees  at all levels within the company and he took the time to get to know them personally despite the number of businesses he was operating at any one time.

“Giving is the master key for success in all applications of life” – Bryant McGill

3. Fanatical Focus

Irrespective of the activity he was engaged in on any given day. From closing a business deal, speaking to a colleague or business associate, negotiating a lease to building his stock portfolio. He was unbelievably fanatically focused on that one activity and ensured that the activity was completed to a very high standard.

Anything less was deemed unprofessional and unacceptable. His unwavering focus was very valuable in making business decisions and closing deals, over delivering on budget, making quick decisions and maintaining relationships.

4. Beware of the ‘Little’ Things

We have heard it before, don’t stress or make a big deal about the little things. When you learn to manage your emotions effectively and allow things to occur rather than resist or get upset about it, life becomes far easier and enjoyable. It allows you to retain your energy for the important things in life and manage actual stressful situations as they arise.

5. Master Communicator

This man was extremely tough and very guarded however, he acted like everyone’s best friend. He understood a lot about how people communicate from their tone of voice, the words they say to how fast or slow they spoke, and he was a master at reading non-verbal communication in both men and women.

“Communication is a skill that you can learn. It’s like riding a bicycle or typing. If you are willing to work at it, you can rapidly improve the quality of every part of your life.” – Brian Tracy

To build a powerful network in business, it is imperative to begin by learning the essentials in communication. Start by researching how to read body language and what various poses or facial expressions mean. By understanding others, you can also adapt your own communication style to become a ‘Master Communicator’ and rapidly improve your overall business results.

As we enter the start of the New Year, now is the perfect time to hone these 5 crucial business skills to take your business and relationships to new heights.

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5 Essential Elements You Need to Deliver a Spectacular Podcast Interview

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Podcasting is a phenomenon that millions of people gravitate to every day for information, inspiration, and entertainment.  According to convinceandconvert.com, 112 million people listened to a podcast at least once in 2017. There are many different types of podcasts that are out there to listen to, and one of the most popular formats is that of the interview podcast.

It goes without saying that an interview podcast consists of a host/hosts and a guest, typically an expert in a particular field, going back-and-forth in a question format to deliver valuable content for those listeners.  As a podcast host, myself and having done hundreds of interviews, not to mention the hundreds more I’ve listened to, there are five essential elements, in my opinion, that is essential to delivering an excellent podcast interview.

Here are the 5 essential elements you need to deliver a spectacular podcast interview:

1. Do Your Research

Nothing can kill an interview faster than when one party is not prepared for other, especially when that individual is the host.  It is vital that you do your research on the guest you are bringing on your show, not just to produce the most value out of your podcast, but to ensure that you get the very best out of your guest as well.  

Search their website, find out their most recent event, product launch, or topic they are “hot” on.  Also, know what motivates them and what they are most interested in offering to your listeners.  This is a show of professionalism and will garner respect from your guest and provide a traditional format to build your podcast show around.

“You just need one person to listen, get your message, and pass it on to someone else. And, you’ve doubled your audience.” – Robert Gerrish

2. Create Pre-Interview Rapport

Experts, influencers, and famous individuals typically have someone book them on shows, especially on podcasts. More times than not, there is a limited amount of interaction with the host and the guest before the taping of the podcast. By creating pre-interview rapport through social media outlets, emails and video chats, you can help build more familiarity with your guest and offer a more comfortable and relaxed interview. Some guests will be more accessible to create this type of rapport with than others; however, don’t stop yourself from trying.

3. Don’t Be Too Scripted

There is a difference between having a format versus having a script. Don’t be the podcast host that interviews their guests straight from a script. It will create robotic type answers from your guests and quite frankly, will be boring. At the same time, scripts can take away from the authentic emotion that interviews can provoke. This type of passion and raw feeling in the answers and even the question asking process, is essential to help the podcast stand out and keep the guest interested.

4. Be Yourself

Do not, I repeat, do not try to be any other type of podcast host than that of yourself. Your guest booked your show because of you, the kind of show you host, and because you have a unique audience that YOU can introduce them to. You aren’t Lewis Howes, John Lee Dumas, or Gary Vaynerchuk.  They have created podcasts because of who they are and stayed true to their style of interviewing, and you must do the same. It’s ok to want to emulate the success of others but don’t do it to the extent of losing your voice.

“A podcast is a great way to develop relationships with hard to reach people.” – Tim Paige

5. Speak To Your Audience

Don’t just do an interview to do an interview. Make sure the interactions between you and your guest have your audience in mind. I have seen some hosts poll their listeners for certain types of questions they would like for them to ask the guest and, even set up some podcast episodes to be during a live format for instant guest to listener interaction. The podcast should mean just as much to your listeners as it does to you. That is how you know you are reaching your audience and creating the most impact possible.

I hope your podcast is already rocking and doing great however, if you feel you are missing an element to take your podcast from good to excellent, try implementing these five tips and become a first class interviewer.  This alone can help take your podcast to a whole new level.

What are some podcasts you enjoy listening too? Comment below!

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Life

6 Stepping Stones to Become Your Best Self in 2018

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New Year resolutions are often wishful thinking. Being your best self is not something to be ticked off a checklist,  it is part of a never-ending continuum of learning and self-discovery. (more…)

Angela Kambouris used to work with high risk kids in the streets of Melbourne, now she has her own consultancy business and writes for large publications. As a leadership coach and business leader having spent over 20 years in the field of vulnerability and trauma, she has built a high-level career as an executive and transitioned into a business owner. She has spoken on stages and worked with thousands of people in self-development, leadership, mindset, human behavior and business. Love to travel, experience difference cultures and mastermind with leaders and expert authorities in personal development and business all over the world. Connect with her through her website http://angelakambouris.com/ or through her Facebook.

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7 Comments

7 Comments

  1. Gemma Reeves

    Dec 7, 2016 at 12:49 am

    You will encounter a lot of challenges when you put up a startup business. However, you should bear in mind that you don’t need to face these trials alone. You can either ask a friend or relative for advice. You can also learn from experts by watching videos or reading articles about their experiences.

  2. Yeezy 350

    Sep 6, 2016 at 2:58 am

    It’s hard to come by educated people on this topic, but you sound like you know
    what you’re talking about! Thanks

  3. รับพนันกีฬา

    Jul 10, 2016 at 7:04 pm

    Thanks for finally writing about >6 Ways To Overcome Your Fear Of Failure As A Startup Entrepreneur <Liked it!

  4. Danielle Bentley

    Mar 25, 2016 at 1:23 am

    For me my biggest problem is staying focused as I easily get side tracked and move onto something else. So the part about just keep on going is especially important to me. Thanks for sharing.

    • Tyler Basu

      Mar 26, 2016 at 8:59 pm

      No problem Danielle, I’m glad you enjoyed it!

  5. Evan

    Mar 23, 2016 at 6:49 am

    Tyler,

    Nice article here man! I love the first point about failure.

    I just read something that framed failure as paying for a lesson! That’s all it was, and like Edison patenting all of his ‘failures’, we can gain so much from every time we learn and mess up.

    Glad you put that one up front because I also think this is a big reason people don’t take the necessary risks and put themselves out there, because our education system designed failure to be bad, by giving us grades when we got different answers. It’s helpful to an extent, but certainly not in entrepreneurship.

    Keep up your good work

    – Evan

    • Tyler Basu

      Mar 23, 2016 at 6:43 pm

      Hey Evan thanks for leaving a comment! I am glad to know that you enjoyed this article, especially the first point. I agree with you – the educational system does make us feel bad about making mistakes. But in business (and maybe in life in general?) mistakes are how we learn. If you’re never making a mistake you can’t be learning much…

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Entrepreneurs

10 “Brick-In-The-Head” Moments You’ll Encounter as an Entrepreneur

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The entrepreneurial life is one of the most challenging, stressful and risky avenues to success you could possibly choose. The issue with doing it alone in business ventures is exactly that; you’re alone. To be a successful entrepreneur, you have to be driven, thick-skinned, and ready for any curve balls.

Here is a list of 10 ‘brick-in-the-head’ moments you’ll need to overcome on your path to becoming a market leader:

1. Letting criticism get to you

The ways society deals with ambition and success is very odd, and you may feel like you’re unfairly criticised by your peers regularly. The reality is that you’ll encounter plenty of jealousy and bitterness during the course of your career.

This isn’t to say that all criticism is malicious – constructive critique can go a long way. But remember that nobody understands your vision better than you. Remember that the art of good entrepreneurship is to delve where nobody else is willing to go.

When Bill Gates decided to offer his Internet Explorer browser as a free package with his Operating Systems in 1995, it was considered a counter-intuitive move by some, but ended up being the cornerstone for Microsoft’s resounding dominance.

2. The temptation of ignoring constructive criticism

While it’s worth adopting a thick skin to allow unjust criticism to bounce off of you, it’s also important to know when to take it on board and consider constructive comments. As you’re taking the leap into controlling your own business, sometimes it can become too easy to concentrate on the nuances of your work and miss the bigger picture. Take the time to consider advice that you are offered – if it fits in with your vision, then it may be worth taking.

3. Keeping on top of your cash flow

Making sure you’re focused on your finances is one of the biggest parts of being an entrepreneur – after all, it’s all about making money.

If you’re worried about your cash flow, then it’s probably a good sign. All entrepreneurs struggle with money at times in their careers – and so if you don’t keep an eye on your figures then you risk showing signs of complacency. If your figures are really getting to you, then it might be a good idea to skim through your finances and start saving cents here and there.

4. Facing the unknown

One of the most anxiety-inducing moments is being kept up all night wondering which way your venture’s going to go. Entrepreneurship is a volatile career, and coming to terms with the unknown is a big part of the life that comes with it.

Prevention is better than a cure when it comes to dealing with the uncertainty of building businesses. Try to manage your resources well – it could save a lot of worrying a little bit further down the line.

“Many times, the thought of fear itself is greater than what it is we fear.” – Idowu Koyenikan

5. Abandoning your previous career or education

Often the first step on your path to success can be the most difficult and stressful. You could be leaving a comfortable job, or abandoning your studies to go and pursue an idea that, no matter how good, is not guaranteed success.

Here it’s once again advisable to make sure only you have the final word on the route you take in life. Be sure to listen to the advice that those close to you have to offer but just remember that the choice is yours.

6. Time management

Difficulties with time management can be a big cause of stress when setting up your own business.

The most stressful aspect of this could be that you neglect other parts of your life in order to oversee the successful running of the company.

Juggling your time is perhaps the primary problem that is faced by entrepreneurs. You have to make sure you focus on your output, marketing and networking all at the same time, which can get overwhelming.

Here, the best remedy is to keep records of your tasks and goals using available tools. One should set rotas of where to invest their time and attention over the course of a coming week. It might not seem like much, but it could lift a heavy burden off of your head.

7. Making the right decisions

As an entrepreneur, the significance of the decisions you make could mean life or death for your business. This burden can weigh you down heavily. Remember the very best in the industry make the wrong decisions, and many of the greatest entrepreneurs today have gotten into the position they’re in through trial and error.

The markets are often volatile, and extraneous circumstances which could never be accounted for can come into play. One must find a way of coping with the process of making company defining decisions, and once you’ve become confident enough to take big decisions in your stride, you’ll be well on the way to industry success.

8. Staying true to your vision

Things have a habit of changing very quickly in business. You’ll need to adapt to the ever-shifting sands and stay true to your vision. Sometimes this is easier said than done. Construct a mission statement for your business that you can refer back to in order to hold on to the reason you decided to pursue your idea in the first place. Sometimes seeing what you’re working towards written down can be enough to keep you focused on your goals.

“You have to understand your own personal DNA. Don’t do things because I do them or Steve Jobs or Mark Cuban tried it. You need to know your personal brand and stay true to it.” – Gary Vaynerchuk

9. Team building

Here it’s important to recruit not only the most skilled candidate but the candidate that’ll best fit into your vision for the office culture. Sometimes finding a confident and engaging candidate is a critical factor in recruiting for a job that requires plenty of teamwork and client interaction. The best course of action for lowering the stress of team building is to look for candidates that express themselves in a way that fits the business work ethic best.

10. Dealing with failure

Virtually every entrepreneur has to face the prospect of failure at multiple points in their career. The best way to avoid becoming bogged down by an unsuccessful business is to see it as an exercise in trial and error. Learn from your mistakes, and if your startup has failed, what caused it to fail?

Welcome failure as a valuable learning tool, and jump back into the industry you desire to improve. Improve your original idea or find another one because the life of a successful entrepreneur is built on plenty of experiences and lessons – many of which were learnt the hard way.

What other encounters have you had as an entrepreneur? Comment Below!

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5 Things You Must Have in Order to Succeed as a Freelancer

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Up until about 3 years ago, I honestly had no idea what a freelancer even was. It sounded like a cool job title and I secretly envied people who could call themselves one. Didn’t they get to travel the world with a laptop and go sailing and sip margaritas beside some of the most beautiful beaches on the planet? Yup, I wanted to be a freelancer.

I wanted in on this action. I had no idea what I was getting myself into, but I was sure I could pull this off, couldn’t I?

The Mystery Slowly Unravelled

And so began the digging and sniffing around. The more research I did, the more I realized this wasn’t for the faint of heart. I took in as many blogs and pdf’s as I could. I watched YouTube tutorials until my eyes bled. I took in everything I could about it.

I decided that I could easily become a freelance writer. I got good writing skills (did you catch that?) thanks to so many letters written to ex boyfriends behaving badly, and my journal. Yup, I could definitely be a writer.

So now what? Now the real work begins. So you want to be a writer, huh? Get ready girl. You have tons of work ahead of you. Little did I know.

Can’t I just tell stories?

I just wanted to write about all my crazy life stories ‘cause Lord knows I have a million. Surely someone will want to read them, no? Isn’t writing and blogging just about telling stories of how you had some ridiculous upheaval and how you overcame it? I can write about that until the cows come home.

I was determined to write these stories and send them out to anyone, everyone and no one. I hit up all the high authority sites right away. No small fry stuff for this girl. I have great stories and someone needs to read them.

“The work never matches the dream of perfection the artist has to start with.” – William Faulkner

Was I in for a surprise

Apparently not everyone wants to read your stories. Apparently not everyone thinks your stories are great. Apparently not everyone thinks you’re a good writer. I thought this freelance writing stuff would come easy. I can write dammit and I’m friggin’ good at it! They’ll see.

It just didn’t work like that. As I worked my regular full time day job as a hairstylist I continued to write my heart out, before and after work, determined to leave this life behind and become a freelance writer. Little did I know. 8 months of cutting hair and blogging for free taught me many many things about myself and the freelance world.

Here are the 5 things you better have if you want to make it as a freelancer:

1. Determination

You must be all in or all out. There is no in between. You can’t let up or stop for one single minute. You want to be a freelancer, you must give it 100%. This gig isn’t for half assers or sissies. Nope. Only the hardcore, diehard peeps with a strong deep desire for a life of freedom will make it here. There is no giving up. Ever.

2. Passion

If you don’t feel it, you won’t be able to do it. It has to come from deep down in your heart, soul and belly. The reason you want to do this must consume you (and the reason should be more than just money). You should be eating, living and breathing this passion you have to become a freelancer otherwise you’re already doing it for the wrong reasons and you won’t be happy. Trust me on that one.

3. Persistence

Never ever give up and don’t take no for an answer. If a million people say no to you, remember someone is going to say yes. If someone said no a million times keep at it. Figure out what you did wrong and polish up your skills (all the no’s will give you ample opportunity to do just that).

“Writing is an exploration. You start from nothing and learn as you go.” – E.L. Doctorow

4. Open mindedness

Stay open to learning new things. Stay open to networking and connecting with others. You will need to collaborate with other bloggers and people who are already doing this for a living in order to learn. You will need to throw your net out far and wide and take in all sorts of wondrous tools. Get ready to step way out of your comfort zone.

5. Confidence

This was a biggie for me. I was pitbull, determined to make it so no amount of no’s was going to get in my way. There were some days I honestly did feel like throwing in the towel (we all have days like that) but I would brush off my butt and lick my wounded ego and keep at it. Have confidence in your skills. Just because 10 people don’t want your stuff doesn’t mean there isn’t 10 out there who do! Remember that. You ARE good at what you do.

Do you have what it takes? Of course you do! It took me almost 9 months before I finally cracked the freelance world and another year to become a full time freelancer. There is no try and there is no giving up. I always tell people, if I can do it, so can you.

What are the obstacles you’re facing right now as a freelance? Comment below!

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5 Crucial Skills to Take Your Business and Relationships to New Heights

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Our personal relationships are very powerful and provide us with a crash course of exponential growth both personally and professionally. You learn an exceptional amount of information about who you are as a person, how you communicate, manage your emotions and discover traits you were blissfully unaware of.

Of course everyone wants to hear the beautiful love story you so often hear from others. Man and woman meet, fall madly in love, get married and live happily ever after. However, as we all know the fairytale ending is no guarantee.

I met a spontaneous, generous, successful and much older businessman and we dated for a short period of time. I was deliriously happy and determined for everything to turn out perfectly. As expected, he had mastered the art of knowing all the right buttons to push and exactly the right words to say.

I can compare this experience to a going for a long drive in the country. I was speeding down the highway of life, aiming to maintain my complete denial of everything happening around me. To the point that I missed every stop sign, damaged the car from all of the potholes I failed to navigate, and I had several minor accidents along the way.  You name it, I ignored every single red flag that was saying take a detour, choose a different road and look the other way, keep moving forward yet choose a different direction.

Unfortunately, it all came to a grinding halt, when the car burst into flames in the middle of a local National Park causing a wild bushfire. This analogy clearly illustrates the ending of this relationship and the danger of becoming obsessed with a personal goal to the point where it sabotages all your efforts to attain your goal and safely reach your destination.

The brilliant news is that this crash course of exponential growth led to pivotal business lessons that can also help you achieve outstanding results this year. The 5 key business lessons you can develop include:

1. Individual Connection vs Wolf Pack

Be mindful and understand the differences between communicating well with an individual and a team otherwise known as a wolf pack. Notice the differences in the communication, it can be very different. An individual interaction may be far easier than dealing with the wolfpack or vice versa. Pay attention when in both scenarios as it will be highly beneficial for professional career and help you to enhance both new and existing professional relationships.

2. Monumental Giving

Wow, I thought I was a generous person however I quickly realized I had more work to do in this area. This man raised a lot of funds for charities that were close to his heart both personally and via his businesses and he was very proud of his achievement as he should be.

What I liked the most however was the way he built the company culture although he was well renowned for his tough exterior, he did go out of his way to be generous to employees  at all levels within the company and he took the time to get to know them personally despite the number of businesses he was operating at any one time.

“Giving is the master key for success in all applications of life” – Bryant McGill

3. Fanatical Focus

Irrespective of the activity he was engaged in on any given day. From closing a business deal, speaking to a colleague or business associate, negotiating a lease to building his stock portfolio. He was unbelievably fanatically focused on that one activity and ensured that the activity was completed to a very high standard.

Anything less was deemed unprofessional and unacceptable. His unwavering focus was very valuable in making business decisions and closing deals, over delivering on budget, making quick decisions and maintaining relationships.

4. Beware of the ‘Little’ Things

We have heard it before, don’t stress or make a big deal about the little things. When you learn to manage your emotions effectively and allow things to occur rather than resist or get upset about it, life becomes far easier and enjoyable. It allows you to retain your energy for the important things in life and manage actual stressful situations as they arise.

5. Master Communicator

This man was extremely tough and very guarded however, he acted like everyone’s best friend. He understood a lot about how people communicate from their tone of voice, the words they say to how fast or slow they spoke, and he was a master at reading non-verbal communication in both men and women.

“Communication is a skill that you can learn. It’s like riding a bicycle or typing. If you are willing to work at it, you can rapidly improve the quality of every part of your life.” – Brian Tracy

To build a powerful network in business, it is imperative to begin by learning the essentials in communication. Start by researching how to read body language and what various poses or facial expressions mean. By understanding others, you can also adapt your own communication style to become a ‘Master Communicator’ and rapidly improve your overall business results.

As we enter the start of the New Year, now is the perfect time to hone these 5 crucial business skills to take your business and relationships to new heights.

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5 Essential Elements You Need to Deliver a Spectacular Podcast Interview

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Podcasting is a phenomenon that millions of people gravitate to every day for information, inspiration, and entertainment.  According to convinceandconvert.com, 112 million people listened to a podcast at least once in 2017. There are many different types of podcasts that are out there to listen to, and one of the most popular formats is that of the interview podcast.

It goes without saying that an interview podcast consists of a host/hosts and a guest, typically an expert in a particular field, going back-and-forth in a question format to deliver valuable content for those listeners.  As a podcast host, myself and having done hundreds of interviews, not to mention the hundreds more I’ve listened to, there are five essential elements, in my opinion, that is essential to delivering an excellent podcast interview.

Here are the 5 essential elements you need to deliver a spectacular podcast interview:

1. Do Your Research

Nothing can kill an interview faster than when one party is not prepared for other, especially when that individual is the host.  It is vital that you do your research on the guest you are bringing on your show, not just to produce the most value out of your podcast, but to ensure that you get the very best out of your guest as well.  

Search their website, find out their most recent event, product launch, or topic they are “hot” on.  Also, know what motivates them and what they are most interested in offering to your listeners.  This is a show of professionalism and will garner respect from your guest and provide a traditional format to build your podcast show around.

“You just need one person to listen, get your message, and pass it on to someone else. And, you’ve doubled your audience.” – Robert Gerrish

2. Create Pre-Interview Rapport

Experts, influencers, and famous individuals typically have someone book them on shows, especially on podcasts. More times than not, there is a limited amount of interaction with the host and the guest before the taping of the podcast. By creating pre-interview rapport through social media outlets, emails and video chats, you can help build more familiarity with your guest and offer a more comfortable and relaxed interview. Some guests will be more accessible to create this type of rapport with than others; however, don’t stop yourself from trying.

3. Don’t Be Too Scripted

There is a difference between having a format versus having a script. Don’t be the podcast host that interviews their guests straight from a script. It will create robotic type answers from your guests and quite frankly, will be boring. At the same time, scripts can take away from the authentic emotion that interviews can provoke. This type of passion and raw feeling in the answers and even the question asking process, is essential to help the podcast stand out and keep the guest interested.

4. Be Yourself

Do not, I repeat, do not try to be any other type of podcast host than that of yourself. Your guest booked your show because of you, the kind of show you host, and because you have a unique audience that YOU can introduce them to. You aren’t Lewis Howes, John Lee Dumas, or Gary Vaynerchuk.  They have created podcasts because of who they are and stayed true to their style of interviewing, and you must do the same. It’s ok to want to emulate the success of others but don’t do it to the extent of losing your voice.

“A podcast is a great way to develop relationships with hard to reach people.” – Tim Paige

5. Speak To Your Audience

Don’t just do an interview to do an interview. Make sure the interactions between you and your guest have your audience in mind. I have seen some hosts poll their listeners for certain types of questions they would like for them to ask the guest and, even set up some podcast episodes to be during a live format for instant guest to listener interaction. The podcast should mean just as much to your listeners as it does to you. That is how you know you are reaching your audience and creating the most impact possible.

I hope your podcast is already rocking and doing great however, if you feel you are missing an element to take your podcast from good to excellent, try implementing these five tips and become a first class interviewer.  This alone can help take your podcast to a whole new level.

What are some podcasts you enjoy listening too? Comment below!

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