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12 Mindset Switches You Can Use To Improve Your Startup

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Most successful new startups have entrepreneurs behind them that know how to use the very best of their zeal without losing focus. If you are thinking about launching your startup idea there is the usual advice you can look forward to, such as being prepared, basing your business plan in market reality, concentrating on the financial health of your undertaking, being flexible to learning, accepting both good and bad news, and consistently conjuring up ways to keep yourself in the game.

To sustain or improve the momentum of your startup read the following tips below to give your new venture a boost.

 

Here’s how you can improve your Startup business

 

#1. Know that “the time to improve your startup is and always will be NOW!

Startups involve some risk, and if you continue to put off the inevitable, you might miss a wonderful opportunity. For example, Mike Krieger and Kevin Systrom utilized their HTML5 venture, Burbn, made a few changes, and sold their company for $1 billion in cash and stock. However, their success would have passed them by had they waited! As the saying goes, “sometimes you have to jump and catch your wings on the way down.”

 

#2. Be more open to offering deals

You may have to “wheel and deal” a bit more to improve your startup. By offering specific deals to retailers, Groupon grew quickly and was hailed as “the fastest emerging business ever!”

 

#3. Make your business more accessible

If you want to give your startup a boost right now, you will have to go where the action is instead waiting for it to come to you. This does not mean packing up and moving to a new location, yet. However, making your business easily accessible is vital. For example, install a good phone system like VOIP. Companies who offer VOIP usually have plans that will stay within your budget for online phone systems. This is a great option for any city office or home based business.

 

#4. Your startup is a reflection of you

A shift in attitude will automatically affect outer conditions. If your startup is in the stalled phase, you can have an immediate effect by shifting your mindset. For example, envision yourself interacting positively with your clients. Don’t anticipate repeated rejections.

 

#5. Ask more questions, to find more answers

Many times entrepreneurs launching their startups jump in headfirst excited and full of enthusiasm. A good way to improve your momentum is to re-evaluate why you started the startup in the first place. Ask yourself the whys, hows, when, who and whats so that you can get a clearer view of the big picture.

 

#6. Start thinking that, “If at first you don’t Succeed, Try, Try AGAIN!”

You can give your startup an immediate boost by concentrating on successes, not failures. For example, Ben Huh CEO founder of Cheezburger.com, started over after getting out of $40,000 in debt following a failed startup. Attitude is everything!

 

#7. Chill out and slow down for more effectiveness

That fast or immediate change that seems like it happened over night with your startup was actually a buildup of small steps. Remember that. To instantly improve your startup, you may require just a bit more patience for the results of the work you’ve already completed. Sometimes we just have to “Wake up and smell the roses”, to appreciate how far we have really come. This in turn will help us realize what we have achieved and can also re-enforce what we are capable of. When this happens, well, be prepare to open up that “can of whoop ass effectiveness”!

 

#8. Be more conscious of your surroundings

If you are not surrounding yourself with positive people, it may be time to make some new acquaintances. Of course, not everyone has to be a go-getting entrepreneur, but “birds of a feather flock together.” An instant boost in confidence can take place when you are in the company of other entrepreneurs looking for ways to improve their new startups.

 

#9. Believe in persistence

No startup goes instantly from point A to point Z. However, in order to get to point “Z” you have to look ahead. To give your startup an instant boost read about other startups that have survived those initial doubts. For example, Glam Media Inc and Etsy Inc both succeeded through persistence, despite a drop by investors from Internet startups.

 

#10. Start to push for more

There’s a saying that goes “unless a person embarks on more than he can possibly do, how can he do all that he can?” Sometimes improving your startup requires going that extra mile.

 

#11. Be more aware of your competition and the climate of your market

Yes, this seems obvious, but you will be amazed at individuals with startups who never bother with this phase. By taking a peek at what your competitors are doing, you could receive an “instant jolt” into reality; thereby, causing a fast improvement to your business ideas and plans.

 

#12. Review your beliefs and stick to your ethics

Ethics is important in every aspect of our lives, including new startups. Deep down we know the difference between what is right and what is wrong, whether we do it is another story. Nonetheless, when offering services to clients ethics must be a priority. If you violate your ethics, how can you improve your startup? Remember, “you are your startup.”

Just ask CEO Charlie Vogt, from Genband in Frisco, Texas. They had the opportunity go public but refused. They didn’t need the money. They decided to remain a modest company, sincere to their values and resistant to greed.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 60 million lives in the last 4 and a half years.

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6 Comments

6 Comments

  1. Tanwa jay

    Jul 30, 2013 at 7:17 am

    It’s true. Success is all about mindset. Thanks for the advice.

  2. Ejaz Karim

    Jun 24, 2013 at 10:58 am

    Fantastic advice… Thank you.

  3. Jean Robbolino

    Jun 2, 2013 at 6:50 pm

    Very wise advice, Thank you!

  4. Jake

    Mar 19, 2013 at 7:55 pm

    Nice!

  5. Daniel Imeli

    Feb 14, 2013 at 12:14 pm

    Thanks for such an insight. Keep it up.

  6. Simeon

    Jan 4, 2013 at 9:26 pm

    I agree, it’s all about Mindset, thanks for the post.

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Startups

Your Competition Is Magnificent – Quit Being A Sook

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I’ve got this friend and he’s always crying about the competition. He spends a lot of time sooking about them and coming up with plans to take them down.

I’ve put up with it for a while, but now it’s driving me nuts. I started to think: how can we learn to love our competition in business?

Here are some thoughts I had about your competition:

 

Thought #1 – You say they’re lying. Good!

My friend says his competition is lying. Many businesses lie and that’s fantastic news for you. When a business lies, they are playing the short game.

“The long game in business is about being so vulnerable, authentic and real that it punches your ideal customer in the face every time they hear about your brand”

Trust in business, leads to incredible progress. All those marketing campaigns your competitor’s use are mostly to make them sound like something they are not. When your business is trustworthy, you don’t need to market as much.

Being honest cuts through the hype and because it’s so rare, your ideal customer runs towards you at 110km, with their arms wide open. Right behind them are all of their network who are begging to hear from a business that is a real – a business that is like you and me.

Don’t hate your dishonest competition: learn to love them from the bottom of your heart. See the love in your competition.

 

Thought #2 – There’s enough room for everyone

This scarcity mindset that you have to own 100% of the market in your first three years of operations is bulldust. There’s room for you and your competitors. It’s not a sprint; it’s a marathon to reach the unicorn status that is success/world domination.

Feeling like you’re drowning in competition is exactly that. Focusing on your competition 24/7 makes you feel like absolute garbage after a while. It stops you from having a good night sleep full of dreams that contain growth, prosperity, optimism and triumph towards your businesses mission.

I used to be that guy that couldn’t sleep because of competition. Every time someone brought out the same product that was cheaper than mine, I cracked it. I thought that business was so hard because there were so many people that wanted to cut my lunch.

What I forgot is that despite all the competition, people were still buying. Even if we weren’t the cheapest, it didn’t matter. Some people would find us and buy, and others wouldn’t.

The competition can only cut your lunch for so long. If you stick at it and not let the thoughts of their horrible shadows upset you, you’ll be soon making the lunches and cutting theirs.

 

Thought #3 – It’s ugly

Sooking like a pissed off brown bear with a crown on its head is ugly. You’re showing everyone you work with that you are a sore loser. Winners worry about their own business first.

“Winners know that their business isn’t an immaculate diamond on day one”

Every time my friend complained about his competitors; it made his business seem ugly. I stopped becoming drawn to it as I did at the start. The conversations became more about his competitors than his own business. The focus was lost on competitors which he couldn’t control.

 

Thought #4 – You can’t win every deal

No business wins 100% of the opportunities that are presented. There’s this lie that you have to be always winning to be successful. There’s this belief that some people have that says their business is unique and therefore it’s only normal that when they pitch, they will always win.

Again, this is total BS. Your business might have some unique strengths, but there’s always competition. Some deals you’ll win and some deals you won’t. You don’t need to win all the time to put food on the table and be successful.

I’m also competitive by nature and I’ve had to settle sometimes for the simple fact that I won’t win all the time. Sometimes losing a deal is only the beginning. The opportunities you lose are where all the lessons are.

“Your lost opportunities are what strengthen your entire value proposition to the market”

 

Thought #5 – Seeing your competitors suck is inspiring

When a competitor of yours has a major failure, you should be inspired. What I mean is that you should never want your own client base to suffer the same gunshot to the head. Instead of trash talking your competitors for their mistakes, use them as inspiration to not be like them.

Your competitors should form part of the reason why you exist. You should exist not to make the same dumb mistakes they do. You should exist so your customers have a better alternative. Having horrendous companies within the same industry has inspired many businesses like Uber and Airbnb.

Being a business full of inspiring people is easier when everyone else sucks.

 

Thought #6 – Complaining shows insecurity

By my friend complaining about his competition, what he revealed to me was his insecurity. He was showing me that he lacked the confidence in his own product and so it made sense for him to talk down everyone else’s.

The thing is when you love your product and genuinely believe it’s the best in its field, you forget about everyone else’s. Believing in your product offering comes from the confidence that as a business you believe in yourselves.

If you believe, your ideal customer will believe. Bagging your competition may make you feel better in the short term, but it will never make your business grow.

Thought #7 – You only have so much thinking space

Don’t waste it thinking about your competitors. Use your thinking space to come up with new ideas, to innovate and to WOW your customers. These habits will stop you from living in the scarcity that comes with being obsessed by your competition.

Thinking about your competitors is not going to make them go away. Complaining about them will not improve your product or service. To have a good business, you have to operate from a place of creativity. Being creative is hard work and so you don’t want throw away your thinking space.

Dreaming about your competitors puts you in a spiral of negative thoughts. These thoughts start to overtake the positive ones and pretty soon you can’t be relentlessly optimistic anymore. It’s this optimism that helps you come up with ideas that will change the world.

Much like we compare ourselves to the lives we live through looking at other people’s social media, focusing on your competitor’s forces you to always believe you don’t have enough.

I’m here to say you are good enough. Your business is good enough. Your business can be one of the great’s.

 

Thought #8 – You can actually do business with your competitors

Here’s the really stupid thing: You can actually do business with your competitors. See, your business can’t fulfill every customer need. Instead of saying “We don’t do that,” use your competitors as referral partners.

I can remember in a business that I was a part of, where we used our competitors over the road to supply us with stock when we ran out and had items on back order. We would do the same thing for them when they ran out of stock. As a result, we always had stock.

“Our competitors over the road taught us lots of things we would have never known if we tried to play the solo game. Business is a team sport”

 

***Final thought***

Your competition is not the problem. They’re not the reason why you are losing sales. The real reason you are focused on your competition is because something is wrong with the way you are thinking. Your competitors can force you to sabotage your own success if you don’t stop focusing on them.

Complaining about your competitors never get’s you anywhere. The way to fast-track your success is to get intimate with your competitors and find a way to be uniquely you. Find a way to be bold, authentic, real, sexy and unwavering in your businesses values. Be the honest, cool company that is friends with everybody. That’s how you go from being a sook to being the best in your field.

I want you to use your competition to be world-class. You deserve it.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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5 Ways to Avoid Burning Out While Building Your Business

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how to avoid burnout

Isn’t it strange how mundane things can bring back really vivid memories? As the burnt toast hit the trash, I remembered how burn out meant my first online business ended up on the scrapheap (nearly taking me with it). 

Juggling a full-time job, family, volunteering and running an online business left me physically, emotionally and psychologically exhausted. Just like toast, the burn creeps in slowly and when complete, you’re left unable to nourish yourself or anything else.

You may have already heard run-of-the-mill advice like taking regular breaks to prevent burn out. But what’s the point of stepping away from work only to be stressed that things will fall apart?

Here are five not-so-obvious ways to become burn out proof:

1. Create the right systems

Having no systems (or the wrong systems) is a recipe for disaster. Unfortunately, systems get a bad rap because they can be seen as snooze fests. Who’s ever heard of a sexy system? I sure haven’t!

To make matters worse, traditional systems have a sterile and stuffy image that can make some entrepreneurs feel boxed into something that’s unsuitable for their needs.

The key to making systems work for your business is to design them with flexibility, so your creativity isn’t stifled. Systems that curb burn out are those that account for the ‘secret sauce’ of how you do business. This ensures authenticity, even when your business grows. I call these flexible and personalized systems ‘productivity recipes.’ Because, just like normal recipes, you have the core ingredients and you can make tweaks to suit your business taste.

We’re all different, so there’s no one-size-fits-all business system. Productivity recipes focus on the human side of systems. They bring order to repetitive tasks while taking into account the quirks that make your business unique.

Productivity recipes stop burn out by preventing you from biting off more than you can chew, especially when your business is growing.

2. Get apps ‘talking’ to each other

Automation is another way to hand over repetitive and stressful work. Services like IFTTT and Zapier connect the apps you use to automate your workflow. In other words, they get rid of the biggest time sucks in your business.

Part of creating productivity recipes is to spot tasks you can automate. This will help your business run like a well-oiled machine and save you money when outsourcing.

Start out automating everyday tasks, like social media and email management, by finding out how the apps can ‘talk’ to each other.

Do yourself (and your health) a favour and start to create productivity recipes to see what you can automate. The aim is to drop repetitive tasks like a hot potato to reduce the risk of burnt out. Get your apps communicating to free up time to chat with friends and family.

“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” – Bill Gates

3. Outsource

Outsourcing should be done when you already have productivity recipes in place. It’s tempting to hand over parts of your business to a VA or freelancer and forget about it, but this approach could land you in hot water.

With productivity recipes, anyone you hire will have the blueprint of how you expect things to be done. You’ll also save time getting new hires up to speed. Most importantly, your clients won’t get any nasty surprises or unwelcome changes when you grow your team.

You’ll be able to take time out to recharge your batteries, having all the confidence that your business will continue to function properly in your absence.

4. Find some cheerleaders

Being part of a supportive group is crucial to making yourself burn out proof. Informal groups, like Facebook communities, are helpful networks that can prevent you going down the burn out road.

If you’ve been working non-stop and your brain feels as limp as the lettuce in the sandwich you’ve been too busy to eat, connect with people who can identify with where you are and encourage you to take a step back.

The best groups are those that aren’t strictly business. Look for a group with dedicated days for sharing things like inspirational quotes and jokes to lighten things up a little.

Feeling like you’re the only one who experiences overwhelm can be a lonely place. Being part of a community where people share their struggles helps to provide perspective that you can achieve your goals without compromising your health.

“Be strong, be fearless, be beautiful. And believe that anything is possible when you have the right people there to support you.” – Misty Copeland

5. Inject your personality into your passion

When you’re passionate about your work, it seems like you can work day and night without ever feeling tired. Of course, it’s advisable to make time for proper rest. I’ve found that, the more I enjoy work, the more I look after myself to reduce the risks of becoming ill. I’m passionate about helping entrepreneurs be more productive to avoid burn out. I’m also a huge foodie. That’s why I incorporate food and drink analogies in my work because being fed and watered is something we can all relate to.

Injecting your personality into your work makes everything easier. It’s very draining pretending to be someone you’re not. If you’re already pursuing your passion, add a splash of your personality to reduce the chance of burn out.

Suffering from burn out is a serious setback to your health and business. It’s a relief to know that, unlike the burnt toast that ends up in the trash, you can make a full recovery from burn out. But why take the risk in the first place? Put in place practical measures to avoid getting burnt when the heat is turned up in your business.

It’s good to share. What do you put in place to make sure you don’t burn out? Leave a comment below and share your thoughts.

How do you avoid burning out when things get tough? Let us know by commenting below!

Image courtesy of Twenty20.com

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3 Lessons I Learned From the Failure of My First Startup

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You’re exhausted. You’ve put countless of hours into an idea that you believed in so much. Literally almost blood, sweat and tears were sacrificed for this vision to be accomplished. You had hoped and expected for a lot of things, and was excited to have plans for the future.

A few months ago, I wrote an article here titled, “What I Learned After Opening My First Business at 21.” My restaurant was doing well that time, and writing that article made me feel on top of the world. I thought that it was going to be that way for a long time, yet not so long after that, sales started to become stagnant and then declined.

As I write this today, my restaurant has already stopped operations. It stopped a few days ago, but a couple months back, I knew it was bound to happen. We couldn’t keep up with the bills we needed to pay, and they kept accumulating day by day. With a heavy heart and chaotic mind, we knew we had to close it down.

I couldn’t believe this was happening barely one year after starting operations. But if you were to ask me that if I had the chance to start over, would I do it again? I would still say yes. Despite its failure, there were still very important (also expensive) lessons that I learned that I would never have acquired otherwise if I didn’t start the business.

Here are a few lessons I learned after failing my first startup:

1. Entrepreneurship requires resilience

You cannot ever be successful if you haven’t developed resilience. Whether you like it or not, something will turn out wrong in your business. Maybe sometimes not to the point that it needs to be shut down, but something that could make your decisions critical to your organization goals.

You could give yourself time to grieve, but it shouldn’t stop there. Life goes on. And you need to get back on your feet if you still want to make a difference. The biggest companies that are successful right now all experienced a massive amount of failure.

But they never stopped trying. Because with every failure comes a lesson. Anyone with common sense would learn from that failure, and start again with more knowledge on what to do and what not to do.

Whenever I thought about the accumulated debts of my restaurant, I would have this sinking feeling in my chest and stomach. I knew that I would have to liquidate the assets. So I continued to search for buyers of the assets.

Instead of grieving for a much longer period, I knew I’d have to pick myself back up again so I could pay the debt. It might be hard at first, but if you call yourself an entrepreneur, quitting is not an option. We fail, we learn, then get back up.

“Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

2. Learn to listen

Being a first-time founder, I had a very idealistic attitude. I had no experience in the food industry and established the business with only the belief that my partners and I would make it. I was wrong.

Aside from not being able to make it with that business, I realized what the naysayers had been telling me all along. But you have to be careful here. There are naysayers who have no credibility to back up what they say and want to bring you down. But there are also ones who speak from experience and are genuinely concerned for you. You must learn to discern the right voices to listen to if you want to succeed.

Taking risks is good, but make sure those risks are calculated and not reckless. We took a risk that wasn’t entirely reckless, but not all aspects of them were calculated. We were unsure of some parts of the business, and just “winged” it. Look at what happened to winging it!

Know when you need to jump with both feet or just one, but also listen to the voices who tell you when to put your feet in the water. Trust me, you never know when you will value their input.

3. Your failures do not define you

I never thought this would take a toll on my self-esteem, even when I knew I had to get back up. On the outside I looked normal. Going to school, work, and social settings looking like nothing had happened. But inside I was a wreck and didn’t want to admit it.

I would feel guilty whenever people would praise me about how “successful” I was at such a young age but that wasn’t true. For a while I thought that I was the failure. My insecurities started haunting me again and my browser history was filled with questions on what to do.

That was when I discovered that successful people failed more often than they succeeded. Even the ones with smaller businesses had their fair share of failures before finding an idea that worked for them.

But their failures never got to their heart. They weren’t the failures. The business failed, not them. So they tried again until they got it right. Maybe this business didn’t work out for me, but that doesn’t mean I’ll never be successful. The sooner you believe your failures don’t define you, the more the weight will be lifted off your shoulders.

People fail every single day. The difference between the ones who succeed and those who don’t is persistence and the drive to continue even after failing. It’s much better to try and fail than never having to start and learn nothing.

“Success is not a good teacher, failure makes you humble.” – Shah Rukh Khan

Have you ever started a business that eventually failed? What did you learn from it? Please leave your experiences below!
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Want A Business Idea That’s Guaranteed To Make You Money? Here’s How You Should Start.

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Let’s first start off with the “why”. When you know why you’re doing something, it can create clarity in your tasks, and direct your efforts. So, grab a sheet of paper, or a notebook and let’s get started.

Answer this question: Why do I want to start a business? Here are some common answers.

  • to do something I love
  • to create financial freedom so I can, “fill in the blank” (travel, pay off debts, buy expensive things, etc.)
  • to have the freedom to set my hours, choose when I work and what I work on
  • to help others, using my skills
  • I hate my job

Once you know why you’re doing it, you’ll have a better idea of what your goals are.

“The two most important days of your life are the day you were born and the day you discover why you were born.” – Mark Twain

Start With Your Skills

At the heart of every business, and profession is the solution to a problem. If you can identify a problem that a group of people are having and solve it for them, you have the makings of a successful business.

Start with your current skill set. Everyone has skills, passions and talents in one area or another. What we fail to sometimes see is the ability for those skills to solve a problem for others in a meaningful way.

You can also ask family and friends to help you identify your skills. They may point out strengths you never considered. Keep in mind you don’t need to have mastered that skill yet, you can continue to learn and develop it as you go along. Ray Higdon a successful business man says to “Invest, learn then teach”.

Invest in yourself and improving your skills, learn more about your niche, and creating solutions to their problems, then teach others what you’ve learned.

Once you’ve got that down, the next step is doing some research. What problems are people having that you could use your current skill set to help solve? This is where picking a niche comes in handy. A niche refers to a small specialized portion of the population.

Let’s say, you’re a stay at home parent, and one of your skills is cooking healthy family meals that your kids enjoy. Your niche will likely be stay at home parents. You can then narrow down your search by checking forums and website or magazines that target stay at home parents.

“If you do what you love, it is the best way to relax.” – Christian Louboutin

What To Look For in Your Research?

Look for pain points and problems, especially those that are recurring. You may find that cooking healthy meals is not necessarily where parents are struggling, maybe it’s with purchasing healthy foods or the cost (money and time) of healthy meals. You want to look at the questions people are asking, and take note of the language they use to describe their problems. Nutritious vs. healthy. Quick vs. easy.

Finally, take note of products that offer solutions to those problems. These offer ideas to you about ways in which you can present your solution; Youtube channels, specialized cookbooks, how-to guides, online courses, etc.

By the time you’ve followed all these steps, you would have established 3 things:

  1. A monetizable skill set — You know what your skills are and how you can use them
  2. Proof of a Need — People have a problem that you can solve, and now you know who they are.
  3. A Profitable Market — If people are buying said cookbooks, or paying for products, this shows you that they are willing to put their money where their mouth is.

This is the beginning of any business. Fast Food restaurants offer quick meals on the go, Walmart puts everything in one place so people don’t have to travel to different stores, books entertain or instruct, cars transport and save time. At the heart of every product and business is a need, and you are now on your way to creating a solution that people are already looking for!

What is a business you want to start? Share your thoughts below!

Image courtesy of Twenty20.com

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My Incredibly Simple Guide To Stoicism – Learn Practical Wisdom You Can Use

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I’ve been inspired to learn about Stoicism for a while.

The problem I’ve had is that it’s one of those topics that people love to complicate. The reason for the complication is that many of the teachings that come from Stoicism are spoken in English from a long time ago. I personally don’t have the patience to read this type of writing for long periods.

That’s why I’m going to debunk Stoicism for you in stupidly simple terms. The wisdom you get will transform you. You’ll gain a different perspective that will help you in all aspects of life.

“Everyone is preaching advice, but no one is sharing wisdom – that’s what Stoicism is”

 

What is Stoicism?

It’s an ancient form of philosophy. It was made famous in recent years again by Tim Ferriss and Ryan Holiday from the USA. These two gentleman credit a lot of their success to the wisdom that Stoicism taught them.

Stoicism began on a stoa which means porch to you and I. A stoa is where the early teachings of Stoicism started.

Here is Stoicism broken down into insanely simple dot points:

– Stoicism is focused on uncomplicated theories of life
– Stoicism is so clear that you can take action from the advice immediately
– Study is not required to understand Stoicism
– The most read Stoic is Lucius Seneca. Marcus Aurelius is also very popular

Stoicism doesn’t focus on the negative like modern-day self-help advice does. Stoicism is more a meditative practice that allows us to take the negative feelings we experience, and turn them into thoughts that give us peacefulness and perspective on life.

The most important part of learning Stoicism is having the right state of mind. Just like in life, the right state of mind can help us look at challenges in the best possible way.

At the crux of Stoicism is a list of reminders and words of wisdom that show how to live a good life. It’s not an argument about what is right and what is wrong. The Stoics had no time for this way of thinking.

Okay so now let’s skip ahead to the best lessons you can learn from Stoicism:

 

We don’t control events, but we do control what they mean.

This is a famous teaching from a lot of Tony Robbins work too. Everything that happens in your life can be controlled by your own mind to be good or bad. Once you understand this teaching, you can take back the power. You become less reactive and a lot calmer. You have the upper hand.

 

Disruptions to serenity cannot be avoided.

Tranquillity can never be reached by avoiding or blocking out distractions or horrible events. The way to get to that tranquil place is through your choices and judgment about those events and situations.

 

You must disrupt yourself.

Doing things the way they’ve always been done will lead you to be disrupted by someone or something who changes with the environment. Operating out of habit means you’ve stopped thinking and are mindlessly drifting through life. This means you’re not in control.

“When you lose control, your environment determines your results”

There’s a good chance that you’re going to think these results suck. The lesson here is break your habits, get out of your comfort zone and disrupt yourself like a cool, hip startup from Silicon Valley.

 

In good and bad times we have a choice.

Whether you’re in jail or an entrepreneur running the most successful startup on the planet, you have a choice. We all come from different backgrounds and we’ll all go through major highs, and painstaking lows. Through all of these different circumstances, we have a choice.

It’s having the freedom of choice that will set us free in the long run. It’s that freedom of choice that will ensure you don’t waste your life away thinking about stuff you can’t control. You’ll always feel the power of freedom when you control your choices, no matter what life throws at you.

 

Make it a habit of looking inward.

Stoics are obsessed with taking time to look inward. It’s something they advocate above all of their other teachings. They suggest spending time in the morning to ask yourself questions about your life. As you do this, you’ll find the answers to life’s biggest questions become clearer in the context of your own life.

Looking inward helps you find the answers that you knew all along and thought were hidden inside of someone else, or something else. This practice will only work if you’re honest with yourself. Don’t be too brutal on yourself either. Realize that we all start somewhere and it’s where we can go that is the greatest gift we can enjoy.

 

Being paranoid and fearful will destroy you.

The antidote to fear and paranoia is self-control. Learn to control your impulses. If you become fearful that others will sabotage your success and you don’t remain in control over these fearful thoughts, you’ll lose sight of reality. These fearful thoughts will cause you to project your fears onto other people and they’ll give you exactly what you fear.

In simple terms, fear is a self-fulfilling prophecy. What you put out comes right back at you.

 

Anger will not help you.

The Stoics believe that getting angry never gives you anything in return. Anger wastes your precious energy and resources, and provides no tangible benefit. This is why it’s better to practice non-reactivity rather than being pissed off at something you can’t control anyway.

Anger is like a contagious virus that spreads if you let it. Don’t let anger control you. Projecting anger on people can only result in you projecting anger on yourself. That’s why anger is also another self-fulfilling prophecy.

 

Everything takes up space.

Seneca wrote many times that even things you get for free have a cost. That cost is space – space in your garage or even space in your mind.

“Learning to live with less will create space in your life for the things that truly matter to you”

The aim of the game is to look at your material possession and be honest with yourself: do you really need that object? If the answer is no, free some space up in your life. What Seneca says here is the reason I have personally given away and sold most of my possessions. I’ve never been happier.

 

Practice poverty.

Especially during prosperous times in your life, the Stoics believe you should practice poverty. This is how you prepare for hardship and become an expert in dealing with the ups and downs of life. Comfort can become a form of slavery because you consistently start to think that someone could take away what you have.

When you’re familiar with what you fear, it no longer controls you. The worst can happen and you go through it with a sense of calmness and ease. People think you’re resilient but actually, you’ve just practiced the hard times as preparation.

Quick tip: try eating a really cheap meal for a whole week every two months. Eat like you have almost no money. This will teach you to not only appreciate the nice meals but to be okay if you ever face poverty and have to live on very little money for a while. I know a few people that do a beans and rice meal for this week of living it rough. Try it!

 

You protect everything you have, why not your mind?

You don’t give away your wallet to a stranger on the street. You don’t hand the keys to your car over to a budding thief. You wouldn’t let your house be demolished by the council without a fight. So why would you hand over the keys to your mind so easily to any stranger who wants them?

You have to become aware of who you are unconsciously giving your mind over to. You need to realize who is influencing you in a negative way without knowing it.

“Your mind can create all the abundance you could ever imagine, so you need to protect it like it’s the only possession you have”

 

Don’t wreck the purpose of your life by trying to impress others.

The Stoics teach that the opinions of people you seek our to impress are not that great themselves. These people you seek to impress have addictions, their own problems, and are no wiser than the next person. The purpose of your life is not to impress people and doing so will have the opposite effect.

Focus on impressing yourself through personal growth and wisdom from people who serve the greater good. Go beyond yourself and avoid the need to seek approval. Take action and seek forgiveness later if you must.

 

Without proper training, you’re a fool.

If you seek to master a skill, then without proper training you will (by default) rely on ignorance, and you’ll act in a way that lacks discipline and requires chance.

“An investor without discipline is not an investor – he’s a gambler” – Ryan Holiday

 

Your mind becomes what you think consistently.

Whether you think mostly negative thoughts or positive thoughts will determine your default response to any situation. The more we practice negative thinking, the more likely we are to see the world as negative.

If we choose to practice nothing, then we also get the same outcome of an influx of negative thoughts. The only wise choice then is to practice seeing the good in everything. Start with being grateful

 

You don’t know everything.

This is a thought that many people secretly have when they claim they want to learn something new. The harsh reality is that many of us walk around as though we know everything. We know nothing of the infinite knowledge there is to acquire.

That sort of humbleness is where all the best learning starts from. Thinking less of yourself is the ultimate power: it’s where you can grow from and serve others. It’s this way of thinking that births leaders.

 

Think of your problems in relation to the sky.

Marcus Aurelius says that the stars wash away the dust of earthly life. This Stoic concept is a way for you to clear your mind of all the troubles you encounter day-to-day. In comparison, your problems are so small compared to the immense size of the universe.

Your problems don’t matter in the grand scheme of things so don’t fool yourself into believing they do. Look at the stars once in a while. Remember how lucky we are even to experience this planet we call Earth.

 

Forget stereotypes and labels: concentrate on character.

Stoics believe your character should be your most prominent feature. Outward traits such as skin color and clothing should be insignificant. Your character is defined by the work you do on yourself each day and the person you become.

Your character is what sells you as a person better than any other external force. Your character is your legacy. Your character is what you want to be known for.

 

Don’t sit on the sidelines. Do something inspirational yourself.

You can sit here all day and listen to me inspire you. You can watch all the inspirational videos that Youtube has to offer. What would be far better is to go out there and inspire people yourself rather than being inspired.

Take the inspiration you’ve gathered in your life and do something with it so you can allow others to create their own inspirational journey. Be the example rather than only listening to the example and saying “One day I’ll do that.”

 

There is never an end to the personal development journey.

You never reach mastery. The student never stops being a student. Even the teacher is still a student at heart. Stoicism is something you apply consistently, and it never ends. You apply it until the day you die and that’s how you gain the infinite wisdom it offers.

“You’ll never drink all the water in the ocean, just like you’ll never learn everything there is to know about Stoic philosophy and that’s fine too”

 

Work is good for you.

Ever heard that when people retire, they are statistically more likely to die within a few years of achieving this milestone in their life? That’s because work gives us a sense of purpose. Work gives us a reason to get up in the morning. Making progress through doing meaningful work feels good.

Too much idle time and the delusion that you can get rich and sit on a beach is what can cause you to feel empty inside. This feeling can cause you to have self-destructive thoughts that lead to an immense focus on one’s selfish desires and need for significance. In other words, work is good.

 

Don’t make life harder than it is. It’s your choice.

Choices are what stoics believe are the way to take a shortcut in life. They believe we can choose whatever we want including happiness, freedom, respect and feelings of being wealthy. The reoccurring theme here again is that we are in control of everything that happens and how we feel.

 

How you handle disaster is everything.

The way you deal with problematic situations is a true test of your character. Character in stoicism is not formed when everything is going right; character is formed when everything is going wrong. Don’t let problems spoil your mindset. Let optimism guide you in all situations.

 

Seek out obstacles.

Obstacles are a way for you to take a challenge that you may not like and use it as a lesson that can help you for the rest of your life. You learn from hardships above all else. Lessons from hardships make you smarter, stronger and better prepared for when adversity strikes again.

 

You have one job and only one job.

The Stoics have a core belief that all of us have only one job on Planet Earth: to be a good human being. If you learned nothing else about stoicism from this blog post, then I’ve succeeded.

Practice being a good human being and you’ll have one hell of a life.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared hundreds of thousands of times and he has written multiple viral posts all around success, personal development, motivation, and entrepreneurship. During the day Tim works with the most iconic tech companies in the world, as an adviser, to assist them in expanding into Australia. By night, Tim coaches his students on the principles of personal development and the fundamentals of entrepreneurship. You can connect with Tim through his website www.timdenning.net or through his Facebook.

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6 Comments

6 Comments

  1. Tanwa jay

    Jul 30, 2013 at 7:17 am

    It’s true. Success is all about mindset. Thanks for the advice.

  2. Ejaz Karim

    Jun 24, 2013 at 10:58 am

    Fantastic advice… Thank you.

  3. Jean Robbolino

    Jun 2, 2013 at 6:50 pm

    Very wise advice, Thank you!

  4. Jake

    Mar 19, 2013 at 7:55 pm

    Nice!

  5. Daniel Imeli

    Feb 14, 2013 at 12:14 pm

    Thanks for such an insight. Keep it up.

  6. Simeon

    Jan 4, 2013 at 9:26 pm

    I agree, it’s all about Mindset, thanks for the post.

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Your Competition Is Magnificent – Quit Being A Sook

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I’ve got this friend and he’s always crying about the competition. He spends a lot of time sooking about them and coming up with plans to take them down.

I’ve put up with it for a while, but now it’s driving me nuts. I started to think: how can we learn to love our competition in business?

Here are some thoughts I had about your competition:

 

Thought #1 – You say they’re lying. Good!

My friend says his competition is lying. Many businesses lie and that’s fantastic news for you. When a business lies, they are playing the short game.

“The long game in business is about being so vulnerable, authentic and real that it punches your ideal customer in the face every time they hear about your brand”

Trust in business, leads to incredible progress. All those marketing campaigns your competitor’s use are mostly to make them sound like something they are not. When your business is trustworthy, you don’t need to market as much.

Being honest cuts through the hype and because it’s so rare, your ideal customer runs towards you at 110km, with their arms wide open. Right behind them are all of their network who are begging to hear from a business that is a real – a business that is like you and me.

Don’t hate your dishonest competition: learn to love them from the bottom of your heart. See the love in your competition.

 

Thought #2 – There’s enough room for everyone

This scarcity mindset that you have to own 100% of the market in your first three years of operations is bulldust. There’s room for you and your competitors. It’s not a sprint; it’s a marathon to reach the unicorn status that is success/world domination.

Feeling like you’re drowning in competition is exactly that. Focusing on your competition 24/7 makes you feel like absolute garbage after a while. It stops you from having a good night sleep full of dreams that contain growth, prosperity, optimism and triumph towards your businesses mission.

I used to be that guy that couldn’t sleep because of competition. Every time someone brought out the same product that was cheaper than mine, I cracked it. I thought that business was so hard because there were so many people that wanted to cut my lunch.

What I forgot is that despite all the competition, people were still buying. Even if we weren’t the cheapest, it didn’t matter. Some people would find us and buy, and others wouldn’t.

The competition can only cut your lunch for so long. If you stick at it and not let the thoughts of their horrible shadows upset you, you’ll be soon making the lunches and cutting theirs.

 

Thought #3 – It’s ugly

Sooking like a pissed off brown bear with a crown on its head is ugly. You’re showing everyone you work with that you are a sore loser. Winners worry about their own business first.

“Winners know that their business isn’t an immaculate diamond on day one”

Every time my friend complained about his competitors; it made his business seem ugly. I stopped becoming drawn to it as I did at the start. The conversations became more about his competitors than his own business. The focus was lost on competitors which he couldn’t control.

 

Thought #4 – You can’t win every deal

No business wins 100% of the opportunities that are presented. There’s this lie that you have to be always winning to be successful. There’s this belief that some people have that says their business is unique and therefore it’s only normal that when they pitch, they will always win.

Again, this is total BS. Your business might have some unique strengths, but there’s always competition. Some deals you’ll win and some deals you won’t. You don’t need to win all the time to put food on the table and be successful.

I’m also competitive by nature and I’ve had to settle sometimes for the simple fact that I won’t win all the time. Sometimes losing a deal is only the beginning. The opportunities you lose are where all the lessons are.

“Your lost opportunities are what strengthen your entire value proposition to the market”

 

Thought #5 – Seeing your competitors suck is inspiring

When a competitor of yours has a major failure, you should be inspired. What I mean is that you should never want your own client base to suffer the same gunshot to the head. Instead of trash talking your competitors for their mistakes, use them as inspiration to not be like them.

Your competitors should form part of the reason why you exist. You should exist not to make the same dumb mistakes they do. You should exist so your customers have a better alternative. Having horrendous companies within the same industry has inspired many businesses like Uber and Airbnb.

Being a business full of inspiring people is easier when everyone else sucks.

 

Thought #6 – Complaining shows insecurity

By my friend complaining about his competition, what he revealed to me was his insecurity. He was showing me that he lacked the confidence in his own product and so it made sense for him to talk down everyone else’s.

The thing is when you love your product and genuinely believe it’s the best in its field, you forget about everyone else’s. Believing in your product offering comes from the confidence that as a business you believe in yourselves.

If you believe, your ideal customer will believe. Bagging your competition may make you feel better in the short term, but it will never make your business grow.

Thought #7 – You only have so much thinking space

Don’t waste it thinking about your competitors. Use your thinking space to come up with new ideas, to innovate and to WOW your customers. These habits will stop you from living in the scarcity that comes with being obsessed by your competition.

Thinking about your competitors is not going to make them go away. Complaining about them will not improve your product or service. To have a good business, you have to operate from a place of creativity. Being creative is hard work and so you don’t want throw away your thinking space.

Dreaming about your competitors puts you in a spiral of negative thoughts. These thoughts start to overtake the positive ones and pretty soon you can’t be relentlessly optimistic anymore. It’s this optimism that helps you come up with ideas that will change the world.

Much like we compare ourselves to the lives we live through looking at other people’s social media, focusing on your competitor’s forces you to always believe you don’t have enough.

I’m here to say you are good enough. Your business is good enough. Your business can be one of the great’s.

 

Thought #8 – You can actually do business with your competitors

Here’s the really stupid thing: You can actually do business with your competitors. See, your business can’t fulfill every customer need. Instead of saying “We don’t do that,” use your competitors as referral partners.

I can remember in a business that I was a part of, where we used our competitors over the road to supply us with stock when we ran out and had items on back order. We would do the same thing for them when they ran out of stock. As a result, we always had stock.

“Our competitors over the road taught us lots of things we would have never known if we tried to play the solo game. Business is a team sport”

 

***Final thought***

Your competition is not the problem. They’re not the reason why you are losing sales. The real reason you are focused on your competition is because something is wrong with the way you are thinking. Your competitors can force you to sabotage your own success if you don’t stop focusing on them.

Complaining about your competitors never get’s you anywhere. The way to fast-track your success is to get intimate with your competitors and find a way to be uniquely you. Find a way to be bold, authentic, real, sexy and unwavering in your businesses values. Be the honest, cool company that is friends with everybody. That’s how you go from being a sook to being the best in your field.

I want you to use your competition to be world-class. You deserve it.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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5 Ways to Avoid Burning Out While Building Your Business

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how to avoid burnout

Isn’t it strange how mundane things can bring back really vivid memories? As the burnt toast hit the trash, I remembered how burn out meant my first online business ended up on the scrapheap (nearly taking me with it). 

Juggling a full-time job, family, volunteering and running an online business left me physically, emotionally and psychologically exhausted. Just like toast, the burn creeps in slowly and when complete, you’re left unable to nourish yourself or anything else.

You may have already heard run-of-the-mill advice like taking regular breaks to prevent burn out. But what’s the point of stepping away from work only to be stressed that things will fall apart?

Here are five not-so-obvious ways to become burn out proof:

1. Create the right systems

Having no systems (or the wrong systems) is a recipe for disaster. Unfortunately, systems get a bad rap because they can be seen as snooze fests. Who’s ever heard of a sexy system? I sure haven’t!

To make matters worse, traditional systems have a sterile and stuffy image that can make some entrepreneurs feel boxed into something that’s unsuitable for their needs.

The key to making systems work for your business is to design them with flexibility, so your creativity isn’t stifled. Systems that curb burn out are those that account for the ‘secret sauce’ of how you do business. This ensures authenticity, even when your business grows. I call these flexible and personalized systems ‘productivity recipes.’ Because, just like normal recipes, you have the core ingredients and you can make tweaks to suit your business taste.

We’re all different, so there’s no one-size-fits-all business system. Productivity recipes focus on the human side of systems. They bring order to repetitive tasks while taking into account the quirks that make your business unique.

Productivity recipes stop burn out by preventing you from biting off more than you can chew, especially when your business is growing.

2. Get apps ‘talking’ to each other

Automation is another way to hand over repetitive and stressful work. Services like IFTTT and Zapier connect the apps you use to automate your workflow. In other words, they get rid of the biggest time sucks in your business.

Part of creating productivity recipes is to spot tasks you can automate. This will help your business run like a well-oiled machine and save you money when outsourcing.

Start out automating everyday tasks, like social media and email management, by finding out how the apps can ‘talk’ to each other.

Do yourself (and your health) a favour and start to create productivity recipes to see what you can automate. The aim is to drop repetitive tasks like a hot potato to reduce the risk of burnt out. Get your apps communicating to free up time to chat with friends and family.

“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” – Bill Gates

3. Outsource

Outsourcing should be done when you already have productivity recipes in place. It’s tempting to hand over parts of your business to a VA or freelancer and forget about it, but this approach could land you in hot water.

With productivity recipes, anyone you hire will have the blueprint of how you expect things to be done. You’ll also save time getting new hires up to speed. Most importantly, your clients won’t get any nasty surprises or unwelcome changes when you grow your team.

You’ll be able to take time out to recharge your batteries, having all the confidence that your business will continue to function properly in your absence.

4. Find some cheerleaders

Being part of a supportive group is crucial to making yourself burn out proof. Informal groups, like Facebook communities, are helpful networks that can prevent you going down the burn out road.

If you’ve been working non-stop and your brain feels as limp as the lettuce in the sandwich you’ve been too busy to eat, connect with people who can identify with where you are and encourage you to take a step back.

The best groups are those that aren’t strictly business. Look for a group with dedicated days for sharing things like inspirational quotes and jokes to lighten things up a little.

Feeling like you’re the only one who experiences overwhelm can be a lonely place. Being part of a community where people share their struggles helps to provide perspective that you can achieve your goals without compromising your health.

“Be strong, be fearless, be beautiful. And believe that anything is possible when you have the right people there to support you.” – Misty Copeland

5. Inject your personality into your passion

When you’re passionate about your work, it seems like you can work day and night without ever feeling tired. Of course, it’s advisable to make time for proper rest. I’ve found that, the more I enjoy work, the more I look after myself to reduce the risks of becoming ill. I’m passionate about helping entrepreneurs be more productive to avoid burn out. I’m also a huge foodie. That’s why I incorporate food and drink analogies in my work because being fed and watered is something we can all relate to.

Injecting your personality into your work makes everything easier. It’s very draining pretending to be someone you’re not. If you’re already pursuing your passion, add a splash of your personality to reduce the chance of burn out.

Suffering from burn out is a serious setback to your health and business. It’s a relief to know that, unlike the burnt toast that ends up in the trash, you can make a full recovery from burn out. But why take the risk in the first place? Put in place practical measures to avoid getting burnt when the heat is turned up in your business.

It’s good to share. What do you put in place to make sure you don’t burn out? Leave a comment below and share your thoughts.

How do you avoid burning out when things get tough? Let us know by commenting below!

Image courtesy of Twenty20.com

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3 Lessons I Learned From the Failure of My First Startup

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You’re exhausted. You’ve put countless of hours into an idea that you believed in so much. Literally almost blood, sweat and tears were sacrificed for this vision to be accomplished. You had hoped and expected for a lot of things, and was excited to have plans for the future.

A few months ago, I wrote an article here titled, “What I Learned After Opening My First Business at 21.” My restaurant was doing well that time, and writing that article made me feel on top of the world. I thought that it was going to be that way for a long time, yet not so long after that, sales started to become stagnant and then declined.

As I write this today, my restaurant has already stopped operations. It stopped a few days ago, but a couple months back, I knew it was bound to happen. We couldn’t keep up with the bills we needed to pay, and they kept accumulating day by day. With a heavy heart and chaotic mind, we knew we had to close it down.

I couldn’t believe this was happening barely one year after starting operations. But if you were to ask me that if I had the chance to start over, would I do it again? I would still say yes. Despite its failure, there were still very important (also expensive) lessons that I learned that I would never have acquired otherwise if I didn’t start the business.

Here are a few lessons I learned after failing my first startup:

1. Entrepreneurship requires resilience

You cannot ever be successful if you haven’t developed resilience. Whether you like it or not, something will turn out wrong in your business. Maybe sometimes not to the point that it needs to be shut down, but something that could make your decisions critical to your organization goals.

You could give yourself time to grieve, but it shouldn’t stop there. Life goes on. And you need to get back on your feet if you still want to make a difference. The biggest companies that are successful right now all experienced a massive amount of failure.

But they never stopped trying. Because with every failure comes a lesson. Anyone with common sense would learn from that failure, and start again with more knowledge on what to do and what not to do.

Whenever I thought about the accumulated debts of my restaurant, I would have this sinking feeling in my chest and stomach. I knew that I would have to liquidate the assets. So I continued to search for buyers of the assets.

Instead of grieving for a much longer period, I knew I’d have to pick myself back up again so I could pay the debt. It might be hard at first, but if you call yourself an entrepreneur, quitting is not an option. We fail, we learn, then get back up.

“Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

2. Learn to listen

Being a first-time founder, I had a very idealistic attitude. I had no experience in the food industry and established the business with only the belief that my partners and I would make it. I was wrong.

Aside from not being able to make it with that business, I realized what the naysayers had been telling me all along. But you have to be careful here. There are naysayers who have no credibility to back up what they say and want to bring you down. But there are also ones who speak from experience and are genuinely concerned for you. You must learn to discern the right voices to listen to if you want to succeed.

Taking risks is good, but make sure those risks are calculated and not reckless. We took a risk that wasn’t entirely reckless, but not all aspects of them were calculated. We were unsure of some parts of the business, and just “winged” it. Look at what happened to winging it!

Know when you need to jump with both feet or just one, but also listen to the voices who tell you when to put your feet in the water. Trust me, you never know when you will value their input.

3. Your failures do not define you

I never thought this would take a toll on my self-esteem, even when I knew I had to get back up. On the outside I looked normal. Going to school, work, and social settings looking like nothing had happened. But inside I was a wreck and didn’t want to admit it.

I would feel guilty whenever people would praise me about how “successful” I was at such a young age but that wasn’t true. For a while I thought that I was the failure. My insecurities started haunting me again and my browser history was filled with questions on what to do.

That was when I discovered that successful people failed more often than they succeeded. Even the ones with smaller businesses had their fair share of failures before finding an idea that worked for them.

But their failures never got to their heart. They weren’t the failures. The business failed, not them. So they tried again until they got it right. Maybe this business didn’t work out for me, but that doesn’t mean I’ll never be successful. The sooner you believe your failures don’t define you, the more the weight will be lifted off your shoulders.

People fail every single day. The difference between the ones who succeed and those who don’t is persistence and the drive to continue even after failing. It’s much better to try and fail than never having to start and learn nothing.

“Success is not a good teacher, failure makes you humble.” – Shah Rukh Khan

Have you ever started a business that eventually failed? What did you learn from it? Please leave your experiences below!
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Want A Business Idea That’s Guaranteed To Make You Money? Here’s How You Should Start.

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business ideas

Let’s first start off with the “why”. When you know why you’re doing something, it can create clarity in your tasks, and direct your efforts. So, grab a sheet of paper, or a notebook and let’s get started.

Answer this question: Why do I want to start a business? Here are some common answers.

  • to do something I love
  • to create financial freedom so I can, “fill in the blank” (travel, pay off debts, buy expensive things, etc.)
  • to have the freedom to set my hours, choose when I work and what I work on
  • to help others, using my skills
  • I hate my job

Once you know why you’re doing it, you’ll have a better idea of what your goals are.

“The two most important days of your life are the day you were born and the day you discover why you were born.” – Mark Twain

Start With Your Skills

At the heart of every business, and profession is the solution to a problem. If you can identify a problem that a group of people are having and solve it for them, you have the makings of a successful business.

Start with your current skill set. Everyone has skills, passions and talents in one area or another. What we fail to sometimes see is the ability for those skills to solve a problem for others in a meaningful way.

You can also ask family and friends to help you identify your skills. They may point out strengths you never considered. Keep in mind you don’t need to have mastered that skill yet, you can continue to learn and develop it as you go along. Ray Higdon a successful business man says to “Invest, learn then teach”.

Invest in yourself and improving your skills, learn more about your niche, and creating solutions to their problems, then teach others what you’ve learned.

Once you’ve got that down, the next step is doing some research. What problems are people having that you could use your current skill set to help solve? This is where picking a niche comes in handy. A niche refers to a small specialized portion of the population.

Let’s say, you’re a stay at home parent, and one of your skills is cooking healthy family meals that your kids enjoy. Your niche will likely be stay at home parents. You can then narrow down your search by checking forums and website or magazines that target stay at home parents.

“If you do what you love, it is the best way to relax.” – Christian Louboutin

What To Look For in Your Research?

Look for pain points and problems, especially those that are recurring. You may find that cooking healthy meals is not necessarily where parents are struggling, maybe it’s with purchasing healthy foods or the cost (money and time) of healthy meals. You want to look at the questions people are asking, and take note of the language they use to describe their problems. Nutritious vs. healthy. Quick vs. easy.

Finally, take note of products that offer solutions to those problems. These offer ideas to you about ways in which you can present your solution; Youtube channels, specialized cookbooks, how-to guides, online courses, etc.

By the time you’ve followed all these steps, you would have established 3 things:

  1. A monetizable skill set — You know what your skills are and how you can use them
  2. Proof of a Need — People have a problem that you can solve, and now you know who they are.
  3. A Profitable Market — If people are buying said cookbooks, or paying for products, this shows you that they are willing to put their money where their mouth is.

This is the beginning of any business. Fast Food restaurants offer quick meals on the go, Walmart puts everything in one place so people don’t have to travel to different stores, books entertain or instruct, cars transport and save time. At the heart of every product and business is a need, and you are now on your way to creating a solution that people are already looking for!

What is a business you want to start? Share your thoughts below!

Image courtesy of Twenty20.com

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