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7 Ways To Accelerate Your Success As An Entrepreneur

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There are two types of entrepreneurs. And knowing which one you are is critical to your development. There is the entrepreneur that just works hard. Someone who puts in unthinkable hours, is completely confident in their business, creates detailed plans – but at the end of the day, never seems to have much to show for it.

And then there is the entrepreneur who works smart. They put in as many hours as is required, only plan as much as needed, are confident but not delusional, are open to new ideas, and constantly look to the advice of people more experienced than them.

If you’re an entrepreneur and you’re reading blogs like this one, I’m sure you want to know how you can make sure you are the latter. The problem most of us have though, is not knowing exactly what to do to accelerate our success. If we’re going to be working hard we want to know we’re also working smart.

So the question is, what can you focus on to make sure you’re working smart, and making leaps and bounds in your business?

Here are 7 ways to accelerate your success as an entrepreneur:

1. Limit your time with people who bring you down

Entrepreneurs quickly learn that striving to do something bigger than those around them can be messy. People often start to project their own fears onto you, undermine your vision, suck energy from you, and ultimately drag you down.

Cutting people out should be a no nonsense process, but that doesn’t mean it should be rushed. Sometimes you just need to distance yourself or you need to redefine boundaries in your relationships. If you’re around people that don’t bring anything to the relationship, belittle your dreams, or talk you out of them, then you need to limit your time with them.

 

2. Set smaller goals

The number one factor that allows entrepreneurs to waste time is not having specific goals. Lack of clarity in your business does two things: You either spend too much time focusing on the wrong areas of the operation or you make yourself feel overwhelmed by the idea of reaching such a huge goal.

In order to see success you have to be specific about what you want to accomplish. If you don’t know what those steps are, that’s completely okay. It just means you need to do more research, read more books, talk to a mentor or even look for advice in forums. Remember, we’re in the digital age where almost any information is available, we just have to find it and act on it.

“Goals are the fuel in the furnace of achievement.” – Brian Tracey

3. Live by the 80/20 rule

The Pareto principle suggests that around 80% of effects will come from only 20% of causes. In practice this may mean that 80% of the market may be owned by 20% of businesses, or 80% of sales result from 20% of clients. For you, it means 80% of your results will come from 20% of your most important activities.

To live by the principle, constantly track and evaluate your time and results in order to determine what your 20% most effective activities are. You can then delegate, automate, or eliminate the rest.

 

4. Surround yourself by like minded people

It’s very easy for entrepreneurs to slip into the habit of trying to do everything by themselves. Unfortunately, this just slows down your growth. Finding a mastermind and being around likeminded entrepreneurs can help you in countless ways. Finding a mastermind group has many benefits including, networking with potential mentors, collaborating with other business owners, cross-promoting, or learning successful habits.

 

5. Invest in a coach

All world class athletes have a coach. Without them, they never expect to compete at the highest level. So why would you expect to reach your entrepreneurial potential without a coach?

What you may not know is that most world class business leaders have personal coaches. Everyone from Google Executives to U.S Presidents like Bill Clinton have had coaches. You may need help with strategy, habits, and self-defeating thought patterns, or you might just need accountability.

If you’re just starting out, coaches can seem like a big investment, but when you find the right one, they’ll pay it off tenfold. A lot of business coaches offer free consultations, so make sure you do your research and find a coach that resonates with you personally.

“I absolutely believe that people, unless coached, never reach their maximum capabilities.” – Bob Nardelli

6. Redefine your personal boundaries

If you want to get ahead in business fast, you have to learn to redefine your personal boundaries and put yourself first.

Putting yourself first means your business goals come before everything else; that includes drinking with friends, dealing with negative influences, watching Netflix for hours on end, or telling yourself that you can’t do something.

 

7. Meditate

Meditation is beneficial for everyone, and this goes tenfold for high performers. A huge proportion of successful people swear by meditation. From NBA players like Kobe Bryant, to US Marines to hedge fund managers like Ray Dalio, and Media Moguls like Russell Simmons and Oprah Winfrey—success follows meditation. That’s because it works. Get away from any ideas that it’s a fad, or it’s just not for you.

Meditation has some incredible benefits:

  • Improved immune function
  • Improves ability to focus
  • Decreased anxiety, stress and depression
  • Increase in Positive emotions
  • Improves emotional intelligence
  • Increases compassion
  • Improves introspective acuity
  • Improve willpower

The game of entrepreneurship is a long one. However, when you play it smart, you can see massive growth in a relatively short amount of time.

If tackling all of these at once is too much for you, just start with a few then add one a month and in no time you’ll be absolutely crushing it.

What are you experiences with these tips? Please leave your thoughts in the comment section below!

Benjamin Fishel is co-creator of Project Monkey Mind – where he helps young professionals and solopreneuers channel their passions, improve their mindset, and lead a world-changing life. Do you want to get more out of your morning in less time? You can download our FREE eBook: Morning Mastery: the simple 20 minute routine for long-lasting energy, laser-sharp focus, and stress free living.

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5 Comments

5 Comments

  1. Avatar

    Cyprian kakwamba

    Jun 1, 2016 at 1:53 pm

    Thank’s a lot, at least now am familiar with the tips which may help me reach my dreams. l will be very help happy to get more similar articles.

  2. Avatar

    Abdul Azeez

    Jan 9, 2016 at 5:01 am

    Excellent article to read , practice and train.

  3. Avatar

    Addicted 2 The Grind

    Dec 31, 2015 at 8:47 pm

    Great post .

    The people around you have a huge influence even if you think they don’t. negative energy and doubt can discourage you. you have to block as much of the doubt and negative energy as possible.

    also I like the point you made about setting goals. Goals to big may be discouraging. I suggest breaking large goals into smaller more tangible goals.

    Great Read.

  4. Avatar

    Jean-Paul Blommaert

    Dec 31, 2015 at 2:22 pm

    I like point #2. I always made the mistake of setting my goals too big and then bang my head against the wall of not achieving anything.

  5. Avatar

    Lawrence Berry

    Dec 30, 2015 at 11:46 pm

    This is some great advice that can help many entrepreneurs including me. I also thinking having the right mindset and the right amount of perseverance are huge factors playing into becoming a more successful entrepreneur. Entrepreneurship is alot of trail and error, so you have to be determined enough to look past the challenges and go at it again. I also love mediation and I used to do it a lot. I think it is now the time to re introduce it back into my life. Thanks for the article!

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5 Things You Can Learn From The 5am Club by Robin Sharma

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It has been said by Robin Sharma, “5 AM is the time of least distraction, highest human glory, and greatest peace.” This also happens to be the central idea or the core value he has discussed in his book, ‘The 5 Am Club.’ Speaking of early mornings, at what time do you wake up? Are you annoyed by the fact that you wake up on the edge of time and then rush to work in haste? 

The life lessons put forth by The 5 AM Club are exactly the learning and motivation you need to challenge your complacency. In your race against time, you may not have the time to read this fabulous book. So, we have summed up the key book’s takeaways for your convenience.

1. The vigor of waking up early

This is what the book’s most fundamental advice to everyone is. Waking up at 5 am every day can work wonders to avert failures and make success a natural habit. When we wake up at 5 am, we have more time on our hands than others. Besides, this is when we have minimum interruptions and maximum powerfulness of the mind. 

To add, the early morning peace is priceless! You can schedule your most important tasks of the day between 5am, and 8am. This book teaches us in the simplest way, how we can train our mind and strengthen it to deliver the highest productivity by waking up early. This energy that you have when you wake up in the morning and the few additional hours in your day are what serve as perfect ingredients for success.

“The secret to productivity is simplicity.” – Robin Sharma

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These terms may seem new, but they are self-explanatory. The idea of heartset endorses the essentialness of emotional stability and well-being. Next, the perspective of healthset indicates the need to look after physical health. At last, soulset is an attribute of spirituality. As explained in this book, success prospects can be enhanced big time by achieving the right balance between these internal virtues.

3. The iconic 20/20/20 modus operandi

What is the first thing you will do if you start waking up at 5 am every day? Did you ever spare a thought about it? This book has the answer to this question, and you will be convinced that it is a great way to begin your day!. The author suggests that you should split the first hour of the day into three equal parts of 20 minutes each.

In the first 20 minutes of the day, you should prioritize your physical fitness and exercise. In the next 20 minutes, you should energize your soul and spirit via self-reflection and soulful meditation. This will prepare you for the rest of the day and will enable you to bolster your commitment and focus. In the last 20 minutes of the first hour, you should read and learn. But what are you going to read about in those 20 minutes? Read about successful people and their inspiring journeys to the pinnacle of success.

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“If you want to have the results only 5% have, you must be willing to do and think like only 5% do and think.” – Robin Sharma

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