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5 Tips for Staying in the Game: Successful Business Longevity

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5 Tips for Staying in the Game: Successful Business Longevity

You know the saying, “If hind-sight were fore-sight, we’d all be successful.” Today’s statistics are quick to remind us that the longevity of most businesses is fifteen years, and the strong stable ones last about 40-50 years. What’s the difference between short-lived with an early death, or a long sustaining business?

Most entrepreneurs are sold out to the power of the dream. They know there will be long hours, hard work and great effort to push the dream forward, but there are a few trade secrets that would be better known in advance.

Here are 5 tips for staying in the game:

1. Own your world

Define your success. If you haven’t already, write down what success means to you. Develop a mission statement about who you are as a person and business. Then filter opportunities that align with that directive. Build a strong ethical filter and modify but don’t deviate from your purpose. If you strive to be everything to everyone, you really won’t be your best for anyone. Remember everything you do, develop or become, has the potential to influence others to rise to a higher level in their lives. Bring them along with you as success stories.

“The trick is in what one emphasizes. We either make ourselves miserable, or we make ourselves strong. The amount of work is the same.” Carlos Castaneda

2. Character and reputation

You only get one. Good and bad reputations live for a very long time in people’s minds. It’s not impossible to rebuild or remake who you are, but once you’ve tarnished your character, it’s a long hard climb to repairing it. On the flip side, other people want to align themselves with quality character and positive status. Don’t apologize for who you are, but ask yourself if you would want to align yourself with you. When you put clients’ needs first, they’ll clear the way for your success, and you build repeat, as well as generational customers.

 

3. Be Passionate

One of the greatest gifts of being an entrepreneur is the freedom to be passionate about what you do. Starting a business is much like pushing a large boulder up a steep hill. It’s hard, but worth it. Consciously, use your emotional energy in a positive manner and everyone wins. Getting up every day looking forward to what you do will make the long hours and hard work worth it.  If it were easy, everyone would be doing it, stay the course.

 

4. Stress and Fear

There are several kinds of stress, it’s how you choose to perceive it. Deadlines can be stressful, or they can be forced time management. Financial strain can sometimes be the motivation for ingenuity—use it. Failure can help you understand what’s not working and inspire you to develop another plan. Don’t let fear paralyze you. When fear stays bound up inside in an emotional state it can be crippling. Call it out, categorize it and then solve it or design a new plan. Use stress and fear to your advantage and call it ‘focus and motivation.’

 

5. The balancing act

Plan for success. Work hard at it. But don’t live to work. As hard as it is, build working hours and stick to them. Work to build stability but also embrace flexibility. There’s a time to set boundaries and a time to roll with the punches. Appreciate those who work for you and value their off time as well. Spend time with friends and family. Don’t buy them off, instead spend time with them. If tomorrow everything you’ve hoped for in your entrepreneur dream explodes, your family and friends will be your saving grace, and supporters. Treat them well.

Learn to spend time alone and enjoy it. Discover the value of just being still—no electronics, no agenda. Take ten minutes every day to breath, to clear your mental clutter and to listen quietly. It’s harder than it sounds, but you’ll be better for it. Following these times write down your constructive thoughts and itemize a work list. You will be more productive through the day.

“You only have to do a very few things right in your life so long as you don’t do too many things wrong.” Warren Buffett

Knowing who you are, building a roadmap to your success, valuing yourself and others, guarding your reputation and passion will facilitate your successful longevity. Practicing some or all of these tips may make you stronger and better equip your success and longevity.

What tips are you learning and would pass on to others?

Pam is a freelance writer passionate about family and equipping others to personal success. Her online magazine, The Modern Woman (www.TMWLife.com ) is written for women, but works hard to equip parents and entrepreneurs to be their own boss of: schedules, influence and income levels. You can find her at www.pamalajvincent.com , Facebook and Twitter.

Success Advice

10 Tips to Deal With Negativity While Starting a Business

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There are ups and downs in business but fearing failures can stop you from taking your first step towards excellence. With pandemic on tow, aspiring entrepreneurs feel a little stuck when ideating a business prospect. Here, we give you some actionable tips to deal with negativity while starting a business, even during situations like a pandemic. We also took the liberty to throw in some amazing book recommendations that’ll help you enjoy the process of being positive and achieving your business goals.

10 Tips to deal with negativity while starting a business in a pandemic

1. Get a mentor

The first thing to do as a new business owner is to find the right kind of mentor. That person could be someone in your industry or in general who you look up to. The guidance must be apt for your business, and it should be a mutual responsibility of sharing knowledge. 

2. Two big R’s – Routine and Refresh

Made a mess of something? Try to reboot the situation and make it work. Take a break once in a while and refresh yourself if you feel stuck or your ideas feel mundane. Plan a routine and stick to them – both personal and professional. Having a routine can increase productivity and engage in more activities apart from your pre-planned schedule. 

3. Inculcate problem-solving mentality

Do not panic once you are thrown a problem. Arrange a meeting with the respective party, listen to both sides of the stories, and make a decision that is more realistic and feasible. 

4. Hire half and half

Whenever you hire someone for your business. Make sure that half of the people contradict your ideas, and the other half have the same mindset as yours. The people who contradict can bring in more valuable points and their perspective might take the discussion to a whole new level.  Don’t take too much time finding the perfect one. Hire an apt person who can have the right attitude. 

5. Network, Network, and Network

Find like-minded people and mingle with them. Be more sportive in the learning process. Listen more and talk less – if you are a beginner. You can only be a constructive person who gives input to someone if you have listened to everyone’s point of view. If you feel down, your network might have something to uplift your mood and change your perspective on something. 

“Negativity, in general, is one of the things that holds people back, and you have to see what’s holding you back to get away from it.” – Lucy Dacus

6. Tech-savvy personnel

Learn a thing or two about the latest technology that you implement in your organization. Since the world revolves around technology, make sure your administrative authority knows as well.  

7. Don’t schedule a meeting, that could have been an email

Yes! I said it. Having unnecessary meetings will weaken the purpose of having a constructive discussion. Having back-to-back meetings drains the team members and yourself too. Always have a 10 to 15 minutes break between each meeting to feel refreshed and give your 100%. 

8. Have a pros and cons list

Always, I mean always have a pros and cons list. Let’s say one of your team members pitch an idea to improve the marketing strategies starting next month. Jot down the pros and cons before approving or rejecting it point-blank. It’s a systematic way of making a decision. 

9. Track your finances

Even if you have a team of accountants and auditors, make sure that you are present (both mentally and physically) – learn if you are not aware of it. Trusting your employees is a must, but not overseeing the records is a mistake that should be avoided. 

10. Remember your “why?”

At some point in your hectic schedule or not having ME time can get to you. During those tough times – ask yourself – “Why am I doing this?”. If you can answer this question with a valid explanation, you’ll feel energized. Because “A purpose drives you”. 

5 Best books to read to be more positive as an entrepreneur

Reading always puts me into perspective. Therefore, I took some liberty to give a sample of positivity and determination through words. 

These are the 5 books that’ll guide you to be a more positive and successful entrepreneur. 

  1. Attitude is everything by Jeff Keller – The decisions you make, the routine you set for yourself, and the affirmations you say to yourself every day are going to make a huge difference. If you feel tired, hopeless, and quitting – then this book is for you to boost you up!
  2. Mindset: The new psychology of success by Carol Dweck – You do what you think. In this book, the author talks about two mindsets: The growth mindset and the fixed mindset and what they’ll do to you respectively. She helps you recognize your mindset and change it for the better. 
  3. Innovator’s Dilemma by Clayton Christensen – This book is about technology uprisings all over the world and businesses that adopted and implemented technology in their firm. The author teaches you that just because your competitors and others are adopting something into their businesses doesn’t mean that you have to as well. Make an informed decision. 
  4. As A Man Thinketh by James Allen – This book specifically is about the power of thought and how it shapes your life into a more meaningful and fulfilling one.
  5. The Power of Now by Eckhart Tolle – The author talks about how people always keep thinking about what the future holds but then forget to live and enjoy the present. And also helps us understand how to make decisions more efficiently based on the present. 

Working towards inner balance requires consistency and perseverance. So does hard and smart work. Being negative is a part of our lives. It’s important to channel it appropriately and make things happen despite the roller coaster ride that is our lives. Hope you overcome your fears and negativity to shine bigger and brighter. Cheers! 

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Defining Your Own Success: A Step by Step Guide

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Everyone wants success in their lives, but success can be defined in so many different ways that it can sometimes seem daunting. In this blog post, you will learn how to make success easier for yourself by defining what success means to you. (more…)

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5 Characteristics of Athletes You Need for Business Success

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Michigan State basketball coach, Tom Izzo, wrote “Players play. Tough players win.” I would add to that, “It’s tough to win.”I think if you, as a leader, are looking to build an organization that is successful – that wins – you first have to accept that it will be tough. There are no shortcuts to success. In my 44 years of coaching, I was fortunate to coach a lot of tough players. I believe the toughness I have seen in athletes corresponds well to any organization or business. (more…)

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5 Changes in Your Habits That Will Help You Thrive

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We’ve all found ourselves at the bottom at least once in our lives. We thought that everything’s ruined and there’s no going back. The truth is – there’s always going back. Moreover, it takes one to fall many times and feel like everything’s ruined to succeed in life. (more…)

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