Why do some entrepreneurs continue to thrive in the business world, while others seem to vanish into the distance?
When you venture into the world of entrepreneurship many people underestimate the amount of work they must do on themselves. It is understandable how a product or company launch can take your focus off of what is really the most important part of being an entrepreneur and that is your own personal growth.
As you progress along your journey as an entrepreneur your experiences will change you, whether you want them too or not. The question becomes how are you using these changes? Are you benefiting from them or are they holding you back? Entrepreneurs are what makeup industry, they are the ones who have the ideas, the courage and drive to get businesses launched, but it doesn’t stop after a successful launch.
How Entrepreneurs Reinvent Themselves for Continued Success
Continuous improvements are being made to keep the business and the people in-line with what the business and their customers need. If you are not making these improvements you are going backwards. Look at companies who were on top of the world in their industry, and then through not making the correct changes, or letting their arrogance cloud their judgement, are now struggling to survive or have closed their doors forever – Blackberry, Eastman Kodak and Polaroid.
Everyone and every company needs to continually learn from their experience and adapt to a changing world to thrive. “If it ain’t broke, don’t fix it” is an old adage that doesn’t work in today’s business world. Taking this new-age mindset and applying it to you as an entrepreneur what should you do?
Whether you are just starting out or have been in business for years you will have your core-competencies. Using these look to refine and ensure they are still relevant for where your business is now versus last year. If you have developed new competencies over the past year, are there activities you are doing out of habit still which are no longer required? Replace the non-essential habits with the new ones so as to improve your efficiency.
Regardless of your success level, there will always be the “dream stealers’ who will say you can’t do it. Ignore the voices of dissent again. Negative advice on an unknown is easy and safe to give, so every entrepreneur hears it over and over. As an entrepreneur with some success, you had the confidence to prove them wrong once, so don’t lose your nerve and try to play it safe now. Proven problem solvers only get better with practice.
Every business needs customers. Look at one of the biggest companies on the planet and what did they do very well? They understood what their customers wanted, possibly even before their customers did. Seek out customer trends before they become an avalanche. Don’t stop doing the in-depth communication with customers that brought you initial success. Be personally involved in knowing your customers and understand what they want so you can properly guide your company to deliver on their demands.
You can never do all this on your own, even as your gain success you will still want to have resources you can turn to as obstacles arise. Find mentors who have the skills you lack. Proactively seek out mentors who will tell you what you need to hear, rather than what you want to hear. Work on the new skills you acquire from your mentor, and test incrementally what you have learned. With each new skill you acquire, your likelihood of long-term success is improved.
Entrepreneurship is not a one-time transformation that qualifies your long-term success. It is a lifestyle, like many others, which requires constant effort to keep you ahead of the crowd in a rapidly changing business environment. Standing still is falling behind. What is your action plan to continually re-invent yourself and thrive? If you don’t have a plan come and talk to us at Engineered Lifestyles, we can help.
* Engineered Lifestyles does not guarantee any level of success or income from the NHT Global Business opportunity or any other money-making opportunity. Every independent distributor’s income depends on his or her own efforts, diligence, and skill. Please see our full Earnings Disclaimer here.