Nov 13, 2014 | Business Management
Having your own business is a dream that most professional cherish. Making this dream come true requires a lot more than just courage. Itís not a onetime effort but itís a never ending project which Constantly seeks your attention. What most fear in this journey is the potential risk of set backs.
While the B-school prepares you in their own way to make better business plans and effective processes, the critical thing still remains the human mind and psychology. Only an entrepreneur can tell you the dilemma of psychology, which is at play at all times and managing them is equally important, as important as managing the business processes.
In journey of entrepreneurship, your mind is being played by various factors like fear, challenges, pride, achievement, worry, anxiety, hard work, mind block and many more. In a day you may come across multiple triggers and they leave you with many questions and you chase all night to find their answers.
You respond to situations the way it appears to you, so If you are looking forward to something, your body language and your mind functions in a different manner than a situation you are trying to avoid. The best way to deal a tough situation is to dwell inside and figure out how you are perceiving that situation and why?.
While the most people like to believe that they have a challenge at hand, I see them as result, whatever you call a challenge today is not really a challenge but actually a result of your past actions and therefore unless you learn why you arrived at that result, it will happen again. This is same for great result if something good has happened thatís also a result and by learning from it will help you recreate it again and again.
Prepare yourself to fail. One of the biggest pitfall is that you donít like to fail, because it doesnít look good on you. However camouflaging a failure will only lead you to bigger failures forward. One must accept that in this journey one has to fail before one could get a break through. You cannot get ďoutĒ (game of cricket) if you are not the batsman. A Scientist goes through numerous no of failures before a break through. By allowing yourself to fail, you get 50% more opportunity to focus on what led to the failure and what new actions can be made.
Like all mind an entrepreneurís mind also wanders, and one must follow some basic framework of a business, and thinking about it will bring you back to business.
Your business will continue as long as it caters to a need or purpose, Itís not about me too, but why me? Which means why your client, customer needs you when there are multiple firms trying to offer the same or somewhat similar.
At the heart of every business lies innovation this is the only thing that keeps business running, helping you gain advantage and the thrust to propel forward. You must find better ways to do things.
This is your moral fibre, without it you may go some distance, but in the end the eco-system will itself pull you down. Promise
Never break a promise. If you have committed to it, make sure it happens.
Set your goals higher and workout your plan to meet them. Plan them backward.
These factors are your guide in the toughest of business situation, and thinking about these will soothe your mind and will fill you back with the energy you need to drive the business ahead. Set backs are common to businesses, they are only to test you metal before truly big things happen.