Entrepreneurship can be one of the most rewarding endeavors a courageous person think of and can take on. Usually when people hear the word “entrepreneur” they immediately think of someone who is leading the pack, independence, freedom and success. While all of those positive things sound nice, what about the entrepreneur that is un-motivated, worried, anxious, nervous and scared? During turbulent times these are some emotions and stressors an entrepreneur may use to describe his or her current state.
How does an entrepreneur stay motivated, focused and prosperous when the chips are down, and stress, worry and uncertainty are high?
Here are 5 strategies to help any entrepreneur during turbulent times to stay motivated, focused and prosperous.
1. Visit trade related organizations and networking group events. If things are tough for you in your industry right now, chances are others in your industry are feeling and fighting the same challenges too. Attend a trade association or networking event and see how others in your industry are handling the pinch and what they are doing to keep themselves motivated and moving in a positive direction. It’s nice to meet with like-minded people in a supportive environment, plus it gives you a chance to brainstorm breakthrough ideas with business people who understand the industry and what you’re going through. Remember to bring lots of business cards, you never know who you may meet that could use your products or services.
2. Look for other companies that complement what products or services your company provides, and build a strategic alliance with them. When you find another company who is interested in establishing a strategic alliance with your company, first discuss how you can provide added value for their clients. Then discuss how they can provide add value to your clients. Share one or more of your client lists with each other; this will give each company a boost by providing a new client base to start marketing to. I don’t recommend that you just hand your client list over to your new found friend, but maybe put some collateral material together that they could pass along to their clients explaining your products and services. When a new strategic alliance client shows interest you can promptly follow-up with them, and if they use your products or services you will give a referral fee to the strategic alliance company. Make sure you do your homework and research before you establish and enter into a strategic alliance with any company. You do not want to get involved with another company that has a bad reputation in the industry―especially, one that will hurt your company’s reputation too, in the end.
3. Take some time to study new industry products and services that have recently become popular in your industry. For example, when I owned an electrical company we had a period one winter when things had slowed down drastically. Instead of sitting in the office and worrying about what I could do to make money, I took a class on a new lighting system that had just hit the market. When I got back from the class I spent the next few days putting together a new company marketing brochure on the new product and sent it to all of my former clients. Before I knew it my company was booked for the next 3 months installing the new lighting systems. It motivated us and pushed over the hump, and it kept us from having to lay-off employees due to a continuing drastic drought. We now had a new product to offer to our clients and a jump on other companies in our area.
4. Take a break and spend some quality time with your family. Often times when an entrepreneur starts to feel lots of stress and worry during turbulent times, he or she begins to seclude themselves from family, friends, business and the world while they take on and conquer the challenging beast of struggling business. This is actually the worst thing you can do as an un-motivated and challenged entrepreneur. Family is and will always be family, which means, family will be there to support and pick you up regardless! It does not matter if you’re on top of the world thriving as an entrepreneur or a dragging and almost depleted entrepreneur. So, it just might be time – right now – for you to take a much needed break and step back into your wonderful world of your family. Do it ― you’ll be glad you did!
5. Take a break and spend some quality time taking care of you. It’s a known and documented fact that many entrepreneurs today get so caught up in taking care of and growing their business―that they forget to take care of and love themselves. Could this be you? If you answered, “Yes!” It’s time for you – right now – to get back in touch with taking better care of and loving you. This may include reconnecting with your health and fitness, dietary needs, mental health, spiritual health, and overall self development. Remember, you only get one of you. Make it your business today to get back to taking better care of and loving you. A healthy and self-loved entrepreneur stays motivated, focused and prosperous during turbulent.
About the Author:
Chris Livingston has become known as America’s Maximum Thinking™ Coach. He’s the author of the book Pathways to Success: A Better Way for Your Today. His “can–do” attitude and effective ability to teach interpersonal skills that bring forth rewarding real-life results, has made him a valuable “go-to” consultant and mentor for those facing challenges in business, career and life. With over 20 years as a successful entrepreneur, Chris has helped many businesses to shift and change their company’s mindset to achieve greater success in sales, team efficiency, strategic business development, and in making excellence “The Standard.” He believes in and embraces the philosophy of Dr. Wayne Dyer, “When you change the way you look at things, the things you look at change.”