Motivation can be hard to come by, especially for self-employed entrepreneurs. When you don't have a boss breathing down your neck and informing you that your task list needs to be completed by 5 PM Friday or else, deciding to sleep in can seem like an attractive alternative to checking off boxes on a to-do list. That said, an entrepreneur's willpower and dedication makes or breaks their career; without motivation, an entrepreneur is just an unemployed dreamer. Don't let procrastination and laziness tank your productivity! If you worry about your ability to be both self-employed and on-track, try the five strategies below to boost your motivation!
Disaster can strike and leave you with nothing. The market doesn't care about the countless sleepless nights you spent finishing projects with your team, or the seemingly endless hours you passed on the phone, pleading with investors to hang on just a little while longer. You knew the number when you took out your first business loan: fifty percent of all businesses fail within the first three years. The number seemed abstract when you started; an uncomfortable risk, rather than a dangerous one. But what happens when you find yourself becoming the statistic your banker warned you about? How do you move on when the business you dedicated years of your life and entire fortune to comes crashing down?
Side hustles allow entrepreneurs the chance to venture into the entrepreneurial field without losing their job security or worrying about their ability to pay their bills at the end of the month. Though many don’t realize it, a full 15% of entrepreneurs begin their business ventures while employed in a full-time position.
The truth is, "angel" investors are more likely to kick you to the curb than dump money into your pet project. Simply asking for money won't earn you the financial support you need - so consider the following tactics for pitching your idea.
Ever feel like you just can’t catch up with your work? You spend [...]
It can be difficult for entrepreneurs to push their brands above the rest. [...]
Too often, people buy into the myth that being an entrepreneur is lucrative and relaxing. In truth, it's stressful and confusing. The fact is, your business account isn't your own personal piggy bank, and you'll have to spend a considerable amount of time coming up with a fair salary for yourself.
An entrepreneur's schedule is far from relaxing, especially in the first few months of business. Often, a business owner will wear multiple hats; serving as the PR team, the accounting department, the production lineman, and even the social media intern. By themselves, each of those roles could constitute a part- or even full-time job; and aspiring entrepreneurs must handle all of them within the constraints of a day-to-day schedule. There's no getting around it - the work needs to get done. But how can one person handle it all without crashing themselves?
In our current economy, recent college graduates are scrambling for any jobs that fall even tangentially into their fields of study - but often, those jobs are unfulfilling and lack upward mobility. Gloomily faced with prospect of another year, two, or even five of working at a job they dislike, some college grads may seriously consider starting their own business. The question is, should they?
The best business ideas in the world are just that: ideas. Success requires action, and action necessitates sharing your fantastic plans with financial backers who can help you bring your ideas into reality. You need to earn your seat at the investor's table with a solid, respectable business plan.