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6 Common Traits That Hold Entrepreneurs Back

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6 Common Traits Of Entrepreneurs That Are Holding You Back

Entrepreneurs are a rare breed. While everyone else is content with playing it safe, we have an undying urge to forge our own path in life.

I’m a firm believer that the entrepreneurial calling is in our DNA. It’s something we’re born with.

That doesn’t mean that anyone can’t take the necessary steps to create a successful business. But it clearly comes more naturally to some of us than others.

However, life has a way of keeping things balanced.

Some of the most defining traits of entrepreneurs work for and against us.

The trick is figuring out how to leverage these traits when appropriate, and knowing when to ignore them when they are holding us back.

 

1. We’re dreamers

Entrepreneurs dare to dream bigger. The most powerful innovations known to man all started as a dream in someone’s mind.

I’ve always been an avid daydreamer myself. I spent more time creating imaginary businesses in my mind than I ever did listening to my teachers.

If you’re a fellow daydreamer (I have a feeling you are) then you know that feeling when the light bulb goes off and your mind starts racing. All of a sudden whatever you’re doing becomes irrelevant and you quickly grab a notepad to start frantically recording your notes.

We always have this fear that we’re going to miss out on our next big opportunity if we forget this current genius idea.

The problem with this trait is that dreams don’t come true without action. To be successful at anything you have to spend more time practicing and doing than you do thinking.

We enjoy dreaming. We feel comfortable dreaming. But when has success ever been prefaced by comfort?

You have always been a dreamer and you always will be; relax, you’re not going to run out of new ideas. Now is not the time for dreaming.

Now is the time to take action!

“I’m not much of a math and science guy. I spent most of my time in school daydreaming and managed to turn it into a living.” – George Lucas

2. We hate asking for help

It’s not that we don’t like asking for help, we just absolutely despise it. This desire to do things on our own is usually what drives us to start businesses in the first place.

Who needs a boss, receptionist, and accountant when we can do it all ourselves, right? Wrong.

Sure we develop a ton of great skills by not asking for help, but we are only human. As mere mortals we need help and lots of it.

Here are the three primary reasons that we need to ask for help:

  • Avoiding burnout
  • Ensuring things are handled properly
  • Scaling our business

As much as you hate it, asking for help is a necessary evil. The good news is that it grows on you with time.

Speaking of time, how much of yours would you have saved by asking for help sooner?

 

3. We’re stubborn

Entrepreneurs are notoriously stubborn. That’s how we’re able to overcome obstacles that make others give up.

It’s not that I think I’m always right, I just prefer to do things my way. Sound familiar? The problem is, my way isn’t always the best way and yours might not be either.

How do we know when we are on the verge of a breakthrough or when we are being stubborn about the wrong things? Most of the time, we don’t. (Refer to number two)

Never be afraid to pivot. Successful businesses do it all the time.

Did you know that Twitter was originally a company called Odeo, a network where people could discover and subscribe to podcasts?

My point exactly. No one will look down on you if you pivot, as long as you follow through with something valuable.

Never give up
 

4. We’re very particular

I’ve been accused of having OCD because of my attention to detail, but I prefer to call myself particular.

As entrepreneurs, we’re very particular about things. The details matter more to us than they do to others.

We want everything to be just right.

Steve Jobs was known for being extremely particular about the design of Apple products, often forcing his engineers to adhere to designs that weren’t even feasible at the time. Of course we all know how well that played out.

There’s a fine line between particular and nitpicky. You can come close to the line, you can even walk the line, but don’t ever cross that line. When entrepreneurs cross that line we turn into that micromanaging boss that we ourselves hate.

Even worse, this carries over into our personal lives. You know how many of my ex-girlfriends got annoyed with how particular I am? All of them.

Yes, the details matter, but don’t sweat the small stuff. It does more harm than good.

 

5. We are emotionally tied to our business

Our business isn’t just a company or a brand, it’s our baby. We gave it life, nurtured it, raised it, and we are incredibly proud to watch it grow. So naturally it’s difficult to not be emotionally attached to our business.

When I was building my first company in the oil industry, my mood was completely tied to my business. When profits were up, I had a kick in my step and a smile on my face. When a deal didn’t go through or I struggled to solve a problem, it felt like a cloud was lingering over me.

Being emotionally invested in our businesses is a good thing. It’s that passion that defines entrepreneurs. But you have to learn to keep it contained. Emotions cause us to make irrational decisions and they affect our productivity.

Once you can learn to keep those emotions in check, without putting out the flame, you’ll be in full control. If this is something you struggle with, look into the philosophy of Stoicism.

“You don’t learn to walk by following rules. You learn by doing, and by falling over.” –Richard Branson

6. We enjoy breaking the rules

If we followed all the rules we wouldn’t be good entrepreneurs. True visionaries know how to change the game by breaking the old rules and creating new ones.

There’s a special satisfaction that comes from breaking the rules and not only getting away with it, but being rewarded for it. But there’s a problem with indulging in this trait too much.

You either break too many rules or you break the wrong rules. Most people who get busted for white-collar crimes didn’t start out with criminal aspirations. I’d estimate that most of them once believed they’d never break the law, other than minor traffic offenses.

What happens is they get away with something small, so they decide to take it a little further. As long as they get away with it and they are rewarded for it, they keep pushing the limit even further. Before long it feels normal and they forget they’re even doing something wrong.

Don’t let yourself get caught up in that cycle. White-collar thieves, sleazy scammers, and frauds usually start out as well-meaning entrepreneurs.

Break the rules, yes, but don’t break the law and don’t ever compromise your principles.

In his first year out of college, KW Stout built a six-figure freelance business working with oil and gas companies. Now as a copywriter and consultant he leverages his passion for marketing to help businesses grow their audience and profits. You can connect with him on Twitter.

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How Your Friends Determine Whether You Succeed or Not

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Can anyone do without having friends? We all have our friends, we share ideas with them, talk together, have fun, and fight. Yes, that’s the baseline of friendship. But, do you know that aside from you, your friends can determine whether you achieve success or not?

There are two things in friendship which are the ability to ”love” and the ability to “influence”. This means you are loved and you are influenced. How do your friends affect your success in life? How are they one of the biggest deciding factors of your success? Let’s find out.

What type of friends do you keep? 

First, what type of friends do you keep? Who do you call your best friend? There are two different kinds of friends, good friends, and bad ones. A lot of people have lost their pathway to success and some have also found their road to success all because of the friends they keep, the people they mingle with. 

Who is your best friend? Answer carefully. Having a best friend means you find each other compatible and understanding. Analyze who your best friend is. If your best friend has not motivated you to do something positive, if who you call your bestie has never given you positive advice, lastly if your best friend has never informed and advised you on your shortcomings, then you don’t have a best friend.

This quote tells us “birds of the same feather flock together”. Countless people have changed from their good nature into a bad one all because of friends. One thing to note is, “negative people move with negative aura”. If your best friend is filled with negativity inside-out then you will surely be affected by his/her negative aura.

They influence your success with positivity or negativity 

The friends you keep can either influence you with positivity or negativity because your friends have the power to change your kind of person completely. 

This is how your friends influence you:

  1. They influence you indirectly with what they do
  2. They influence you directly by teaching and giving you advice 

Yes, that is how they influence you. For instance, you watch a movie and you like the way the actor walks. The question is if you truly like the way the actor walks, won’t you try to imitate the actor? Of course, you will.

Just the way you imitate the actor is the same way your friends can influence you with their character. However, the funny part is, they don’t have to teach you to do things like them. You just find yourself imitating and copying them gradually.

An important question to ask is, are you imitating a good friend or a bad one? If you imitate a good friend then you will be good, but if you imitate a bad person, you will surely become a bad person.

Everyone wants to succeed, a good friend will always teach, enlighten, and motivate you for success. A bad friend will only motivate you to do evil things (smoking, drinking, fight, envy,).

And you should know that things like that are a great enemy of success and even of God. So, if you have these bad elements in your life, how will you achieve success? There is no way!

And also, they can teach and advise you directly. But, what do your friends teach you? When you ask them for advice do they inspire you positively or teach you the bad stuff.? A lot of people have regretted lifelong decisions just by listening to the advice of friends. 

The company you keep has the power to influence and change you. Never forget that a positive influence will teach, motivate, and brush you up for success. While a negative influence will inspire you to become a bad person, change your good nature, and leave you with regrets in the end.

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The 3 Step Process to Building a Profitable Pitch

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As a communication coach, one of the top questions entrepreneurs ask me is how to deliver a winning pitch to potential investors. They want to know if there’s a magic formula to get an investor to say yes and buy into their dream and their business. (more…)

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The 4 Pillars of Wealth and Abundance

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Have you ever wondered what the formula for a wealthy and abundant life is? Many people have. Lots has been written about the subject of wealth creation and living an abundant life. It was a breaking point in my journey and pursuit of success when I found out that there is a clear path to achieve success in life. Thanks to those who have shared their journey, we can clearly see and follow the principles of prosperity. (more…)

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Here Are 4 Reasons Why You Should Have a Podcast, Youtube Channel or Online Show

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why you should have a podcast
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Confidence comes from a place of strong understanding of self. After close to three years on radio, I’ve grown from a shy introvert to a shy introvert with an extrovert persona. When the mic is turned on, I can channel a version of myself that some say is attractive, strong, and of course, confident but it wasn’t always this way.

What I want to share with you is what I discovered on this journey into broadcast that you can apply to your life, your ventures, and your personal development. This doesn’t require any fancy gear. It does require a leap of faith on your part because once you go down the road of media; it can change your life.

1. Perceived Expertise

When you go to a doctor, you expect their knowledge will guide them to a solution to your problems. When you have a show, you become your listeners’ doctor. For all the multiple thousands, maybe millions, of YouTube channels, podcasts, and user-created content in the world, each person that gets behind a mic takes a position on their passion, their opinions, and their themes.

They challenge the status quo for the benefit of their listeners in hopes to entertain and educate. With consistency on your side, those fans place you on a platform and give you permission to influence them.

2. Global Acknowledgement

One of the benefits to increasing confidence is when you receive thank you notes from people you may never meet. The feeling of enriching someone’s life from halfway around the globe, provides validation you’re enhancing someone else’s life with your wisdom and your wit.

The very first time I was told I was making a difference in someone’s life in a country other than my own, I felt like I caused massive impact that transcends my circle of influence. When you experience just how much you can cause impact and it comes back to you, it’ll change your worldview.

“Be grateful for what you have and stop complaining – it bores everybody else, does you no good, and doesn’t solve any problems.” – Zig Ziglar

3. Backed By Numbers

One of the most exciting ways to measure success is to quantify your growth. It’s not enough to just broadcast. Having subscribers and downloads helps to know, numerically, how well you’re doing. Word of caution. This can be a way to set yourself up for distress because of number envy but if you understand what the numbers mean; you can control the narrative of the numbers.

The major number that makes most people smile is 10,000. I’d advise it to be 1. Here’s why. As you grow in your industry, so does your reach. If you learned that the one person that subscribed totally changed for the better because of you, wouldn’t that be worth the effort?

4. Effective Communication

While it’s not talked about much, having a show is documentation. You create a dynamic account of your life, your industry, and the pulse on what’s important simply by having a show. When you find a channel to improve your communication skills, you demand attention and people will listen to you. You become more trusted as a leader and people will follow you once they believe you can lead them to their wants and needs.

“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.” – Tony Robbins

These insights have helped many people become leaders and, ultimately, move others to their best selves. It’s worked for me and I hope it works for you. At the end of the day, it’s all about showing up and showing out.

Have you ever thought about having a radio show? If so, what would you talk about? Let us below!

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