Whether you've started a new business, you're considering launching a new business, or you've already executed plans that don't align with your vision, what matters most is how you ride that rollercoaster.
Success is contingent upon tackling the myriad of issues that you face and doing it with finesse.
Here are nine key business lessons from successful entrepreneurs that underline the importance of dedication, discipline, smart and hard work while growing your business.
Are You Overthinking Too Much and Doing Too Little?
"I'm never worried about losing because when I have to explain why I made the decisions I did, nobody is going to be like wow, what an idiot, or what a bad person, or judge me based on some secret thing I had in mind. I'm very open and transparent with my reasoning so if I lose, I lose.
Ninety-nine percent of things you have to "choose" in life really don't matter. And even on the biggest things, it's always better to go with your gut than to overthink it," explains Gary Vaynerchuk, CEO of Vaynermedia, four-time New York Times Best Selling author, an early investor in companies like Venmo, Tumblr, Twitter, and Uber.
Do You Think It Could Never Happen To Me?
"I'm not the type to pat myself on the back and all that, but somebody has to be lucky, right? When I got to Dallas, I was struggling--sleeping on the floor with six guys in a three-bedroom apartment. I used to drive around, look at the big houses, and imagine what it would be like to live there and use that as motivation," says billionaire Mark Cuban when highlighting his willingness to outwork and outlearn everyone. He owns NBA's Dallas Mavericks, is the co-founder of Broadcast.com, and has been a guest judge on the TV series Shark Tank where entrepreneurs from around the world pitch their business idea to persuade panelists to invest in their plans.
Have You Lost Faith in Your Business Mission?
"Be prepared for the future and never give up. Preparedness, resilience, and perseverance are three characteristics that will always come in handy. Every business has its ups and downs. The better you understand those cycles in your business and life; the more you can accomplish. Continuously improve yourself and give more than you take.
Be prepared for the difficult times when things are going well. So, when they come, you can handle them. A lot of business people don't anticipate future disruptions coming their way and go out of business haphazardly when it happens. The best time to get ready for the future is today," advocates Brad Bulent Yasar, founder and managing partner of KrowdMentor, strategic investment and advisory firm with a strong belief in the disruptive nature of decentralization. Yasar is the co-founder of Blockchain Investor Consortium (BIC) with over a billion dollars in digital assets.
Are You Too Sensitive to the Criticism From Others?
"While pursuing something you want, whether it's in business or life in general, you have to deal with criticism. Not everyone is going to agree with what you do or who you are.
Deal with it.
As long as you work hard and bring as much value to what you do as possible, no one can take away what you do.
Keep your head down, continue to push through the difficult days. Stay focused on what you want to accomplish, and don't allow the negativity of others to get in the way of your success," says Brysen Johnson, drummer turned world-class marketing consultant. Johnson is a social entrepreneur who is on a mission to travel the world and change mindset of the new generation.
Do You Have Passion, Persistence, and Patience?
"When I was in school and working on Influencer Press, I focused on learning. I didn't make a dime for almost two years. I showed up every day to have a one-on-one conversation with my wins and losses. Nothing comes easy in life. If the situation is hard, be happy and grateful for the golden opportunity. Tough times test your patience level.
Learn from someone who understands how it feels to be in your shoes. We invested in two coaches who gave us the blueprint for success. Mix your passion and persistence with smart work to achieve significant results in small time," says Josue Arteaga, 19-year-old welder-turned PR maverick who is on the verge of retiring his parents after reaching his first six-figure month.
Are You Raising the Right Question to the Right People?
"The simplest way to make sales, market your product, or find unique opportunities is by raising the right set of questions. By understanding the client's need, you'll gain invaluable insights on how to deliver them the apt message at the right time. Keep yourself up-to-date by staying in touch with your audience to monitor the changes in their wants and desires. Ask the questions through surveys, events, and training to set up your company for years of success," says Nehemiah Douglas, founder of Vision Trading Network. Douglas is a college dropout who has since been featured on the Brian Tracy show and on Wall Street Business Radio.
Do You Feel Accountable?
"Accept your faults. Have the courage to face the consequences. The more you stay away from the blame game, and the more you realise your mistakes. Take ownership of your actions.
Your actions are your responsibility. You can't blame others for your business outcomes.
You are in charge of the decisions you make.
Become the master of your outcomes by taking accountability for the project," says Shadi Allababidi Paterson, Chief of Growth at The 8760.
Have You Realized the Importance of Teamwork?
"As a business owner, the most important job is to ensure you are building a great team.
You should hire for attitude, not just for skills or capabilities.
An individual with a positive attitude and long-term vision and tenacity for absorbing knowledge will be a sure bet for your company's positive growth.
It is difficult to find such people, but this is what makes the difference," asserts Srish Kumar Agrawal, world-class serial entrepreneur.
Are You Around the Wrong People?
"After twenty successful years in the music industry, I have come across many dreamers who couldn't attain their big goals because they were working with the wrong people. I have also seen success stories where people took the time and effort to find and work with the right people who sailed them to the mountaintop, transforming their dreams into reality.
Do not wait for the right people to find you; find them.
Pursue them with the same passion in which you pursue your dreams. If you succeed, you will turn your rejection into acceptance, goodness into greatness, and disappointment into success," advises Jason Davis, President, and CEO of OneOne7, an entertainment company building long-lasting careers for songwriters, actors, producers, and artists worldwide.
We all suffer from doubts at one time or another, but if you can learn the lessons from these nine entrepreneurs it will help you keep going through the difficult times and come out successful on the other side.