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How to Be Patient in Business for Long Term Success

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how to be patient in business
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There’s perhaps no greater skill in business than patience. Some people have it while some people don’t. However, it can easily decide your success. Why is this? For the simple fact that everything that’s worthwhile takes years to cultivate. Name one person that’s an overnight success. There’s no such thing. It doesn’t matter if it was Steve Jobs or Warren Buffett, every successful entrepreneur hustled behind the scenes for years until they blew up.

In fact, the average business takes three years to become profitable. Are you willing to wait that long? Don’t worry if you’re a little on the impatient side, though. Today, I’ll be teaching how you to become more patient to solidify the success of your future if you keep reading.

Write down your goals and review them regularly

Doing business without any goals is like shooting in the dark. You won’t have any direction or aim. That’s why it’s crucial to write down goals you wish to achieve, such as:

  1. Reaching a certain amount of revenue
  2. Having a number of employees
  3. Expanding to certain locations

How does this help with patience? Well, having goals mapped out gives you a birds eye view of your business path. Giving them reasonable timelines to be achieved will help you see how long the whole picture will take to come together, making you less anxious about the short term.

Set milestones for every week, month, quarter, and year

Not only do you need overarching goals for each, but you also need milestones. These are small wins along the way to reaching the top of the mountain which keep you motivated and patient. 

People often set no milestones or key performance indicators and what happens? They become impatient because they see no improvement. If you start setting goals and KPIs to track for every week, month, quarter, or desired timeline, the progression you experience will feel extremely rewarding.

“A goal is not always meant to be reached, it often serves simply as something to aim at.” – Bruce Lee

Stay in the present moment

Getting stuck in your head and worrying about the future can be the bane of your existence. You want the accolades and success to happen now, but you’re not there yet. We call that cognitive dissonance: knowing where you want to be, where you are, and being stuck in limbo

You can snap out of this by simply practicing meditation. And it’s not just a bunch of spiritual mumbo-jumbo, either. Scientific studies have shown that people who meditate have more emotional balance, focus, and grey matter in the brain.

You want to do this for the rest of your life, don’t you? Do you love entrepreneurship? Do you want to earn a living working for yourself forever? Then you need to start acting like it. If you want to do this for the next 20+ years, what’s the rush? You have your entire life to become successful in business, not one or two years. Always keep this in mind when working because it’s easy to get caught up in wanting to see instant results.

If you’re feeling some kind of impatience or angst, it simply means that you’re not enjoying the journey but rather focusing on the results. This brings me to my next point.

Enjoy the journey and progressing

One of the most satisfying things as an entrepreneur is looking back and seeing all of the progress you’ve made. Sometimes it’s easy to get caught up in the daily grind that you forget you’ve come a very long way. 

Take the time every day to reflect on how much your business, income, and you as a whole have improved over the years. This positive habit will make you feel great and motivated to keep working to see more results.

Don’t worry about other people

Self esteem is the relationship you have with yourself. It’s all too easy to watch what other people are doing and feel like you’re not doing good enough. Snap out of it. You only have to compete against yourself. 

Spending time worrying about what others have and do is simply time you’re wasting not taking action. Learning to focus purely on your own progress and activities is a surefire way to develop patience because of this.

“Focus on you, until the focus is on you.”

Focus on what you need, not what you want

Tony Robbins once said that you should visualize your dream life and ask yourself “How much would I need to afford this?”. That number should be your main goal in terms of income. 

Furthermore, what do you really need to be happy? Do you want financial freedom? Good health and relationships while working for yourself? Be honest. You might not want the private jet and Lamborghini deep down. Aiming to obtain what you need puts you in the position to be happy and comfortable before shooting for the stars, as well.

Final thoughts on becoming more patient

Patience is a very underrated skill when it comes to being a successful entrepreneur. Having it is like a superpower. You don’t get caught up in the daily grind, but rather enjoy it while remaining confident you know you’ll be successful later. 

Writing down goals and milestones is a great way to begin working on your patience. Review them regularly and enjoy the progress you make.

Understanding that entrepreneurship is a life long journey can also put things into perspective. Build with the end in mind but practice staying as present as possible throughout the day. It’s also wise to tune out social media and worrying about what others are doing. You only need to compete against yourself and work on your goal lifestyle. Doing all of these things will transform your patience along with happiness and success as a result.

How do you cultivate patience? Share your wisdom with us below!

Success Advice

5 Smart Goals to Make This Year Your Most Successful Ever

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Setting goals at the start of the year means you will know exactly what you need to do throughout the year to be successful. By setting goals, it forces you to build a plan about how you intend to achieve those goals. By having a plan in place, you will wake up every morning with a clear idea of what it is you need to do each day. Just by writing down your goals, there is a 42% greater chance you will achieve those goals than if they just stayed in your head. It may seem like a small thing but actually creating goals every year and then writing them down significantly improves your chances of success. (more…)

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7 Ways to Face Adversity Using the Power of Extreme Ownership

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Adversity is an inevitable part of our lives, and it is an important and defining factor of our personal story. The stories we build for ourselves in the face of adversity will either empower or discourage us emotionally, help us move forward or remain stuck in the past, allow us to grow or to decline. (more…)

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Why Your Confidence Needs to Match Your Competence

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Even if you produce amazing results at your job or in other areas of your life, others may still not see you as being competent if you lack the confidence to back it up. If you are good at your job, exuding confidence will ensure others also recognize your competence in your area of expertise. And research backs this up. (more…)

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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

2. The power of finding the right balance in life

The book talks about a precious lesson of finding the right balance within. We often talk about the need for mindfulness and achieving the right mindset to perceive things. But this book goes a few steps ahead of our usual approach to life. It highlights the vitality of mindset and introduces the concepts of heartset, healthset, and soulset.

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.

4. The significance of a proper sleep schedule

In this book, there is a mention of ‘a ferocious global sleep recession’, which is intriguing and enlightening. It hints at the state of sleep deprivation that this world is sinking into gradually. We often associate success and hard work with the notion of staying up all night and testing our endurance beyond limits. But that is not the right approach to accomplishing success, or rather, it is a flawed methodology.

Sometimes even if we do not have any critical work, we keep whiling our night time on social media or television. What are we gaining from it is the real question, and I am afraid the answer is nothing! We learn from this book that it is critical to look after your sleep cycle and start your day at 5 am afresh. Sleep and rest are indispensable for mental and physical well-being, or your productivity will decline.

“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

5. The art of evolving

The book sheds light on the need to be spiritual and master self-reflection. However, do you realize the purpose that the routine of reflection each morning serves? The idea is to keep learning, keep reflecting on the mistakes and keep evolution an ongoing process. You should evolve every day and strive to be a better version of yourself every day. So, one of your primary goals after waking up should be to reflect on your actions and missed opportunities of the previous day.

To recapitulate, The 5 AM Club is a must-read book if you are a passionate reader. It has the prowess and charm to refurbish your perception of life altogether. Even if you cannot read the book for some reason, make sure you incorporate the above key takeaways into your life. By starting your day at 5 am, you can rediscover your lost soul and enthusiasm, and you would not have complaints to make about the lack of time. If you can own your mornings, you can go places on the ladder of success, for excuses are only for those who are not committed to their goals.

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