As a young entrepreneur, it is easy to lose your way, to lose steam as motivation wanes. Failed products and poor sales can crush your spirit, and the loss of support from family and friends can cause you to doubt yourself. What are some ways young entrepreneurs can keep up their spirits and persevere in today’s cutthroat business environment?
Time is on Your Side
Just as financial advisers tell young investors, “Time is on your side.” When you’re young, you can take higher risks, such as buying up high-risk stocks and waiting a decade before selling. The same applies to small businesses. If you’re young and able, you have the luxury of failing and being able to pick yourself back up. You’re able to take risks that older businessmen simply can’t afford to take.
Don’t Look Before You Leap
Fear is a great motivational tool. If you want to start up a business, quit your day job. Transfer your life savings to a trusted family member, then tell them to withhold it from you. Once you’ve removed all your safety nets, you’re ready to leap. The greatest entrepreneurs have risen from desperation – and you’ll never truly feel desperate unless you lose your monthly income and access to your savings.
The Glass is Always Half Full
There’s simply no point in viewing the glass as half empty. Pessimists should not be entrepreneurs – they should try to make a living shorting stocks instead. A great motivational tool is to always look at the bright side – a cliche, for sure – but also one of the most important qualities of a motivated manager. Perhaps you botched a product release, and a competitor flattened you. It’s only a big deal if you didn’t learn anything from the costly lesson. It was worthwhile if you’re able to perform a thorough autopsy of your dead product to understand why it failed. Your product didn’t fail – rather, you were given an opportunity to see weaknesses which you couldn’t see earlier.
Sometimes you just need to take a time out and relax. Put the world on pause, and put on your favorite CD. Go out for a cup of coffee, get a massage, and let your worries melt away for the day. Rushed and stressed managers often make terrible decisions. Taking a day off and getting away from the hustle and bustle of the workplace can help you come back to work with a fresh perspective on the current situation. Encourage your co-workers to take breaks, or hold meetings in outdoor, casual environments.
Reevaluate You Priorities
Sometimes our personal and professional lives get so fragmented that we lose sight of what’s important, and become creatures of habit and routine, rather than passion and motivation. Think of your mind as a hard drive desperately in need of defragmentation, where disassembled volumes are scattered carelessly about rather incoherent volumes. Meditation, exercises and prayer – depending on your personal preferences – can help center your spirit and allow you to see what’s truly important in your life.
Connect with Loved Ones
Our personal connections with family and friends are often sacrificed in the name of our careers. Reconnecting with friends and family can put us back in our place, motivating us to either try harder or to relax more. You might be earning a lot of money, but if you’ve become so alienated from the important people in your life, is all that cash worth it? It’s doubtful that you can stay motivated if no one is there to share your success.
Other Sources of Motivation
The key to staying motivated is simple – stay positive. Inspect yourself from time to time and ask yourself if you’re truly happy, and can stay positive. If you can’t, it’s time for a change.