Many articles have been written about entrepreneurship, and running a business. Extensive research and studies have been carried out, towards creating diverse learning platforms for the business owner. The ultimate goal is to equip the business owner with skills, to run a profitable and sustainable business. The entrepreneur is encouraged to dream about creating wealth, which will be passed unto future generations. Employment creation is also a critical aspect of this dream; others ought to be financially empowered on the journey. The business owner often gets overwhelmed, and the business becomes a burden.
When this happens, she is unable to appreciate the gifts within the business, as it becomes a stress-filled experience. Her mind is constantly plagued with the following concerns and more:
- How to attract and retain a sizeable share of the target market.
- The right price at which to sell the product/service, so the target market is not discouraged from making a purchase.
- How to attract and retain the required employee skills, at a cost the business can afford.
- How to maintain the quality of products/services being sold
- How to manage the expenses of the business
- How to manage employees effectively
- How to scale the business
It is very easy to forget the gifts, which are hidden in the entrepreneurial experience. There are five major gifts, which motivate an individual to embark on a business venture full time.
- Earning income from something you love doing, instead of having a job you struggle with.
- Having flexible working hours, instead of rigid working hours.
- Full access to a platform where your ideas and creativity, can be fully expressed.
- A dream to create wealth that can be passed on to your children, and generations yet unborn.
- An opportunity to create a source of income for others through salaried employment.
The thoughts about the gifts can be re-discovered if they have been lost. This should be accompanied by consistent action, until the gifts start to manifest. You won’t get all the gifts at the same time, you may not get all the gifts in your lifetime. However, you can take deliberate steps to make most of the gifts a reality, by doing the following:
Bring to Remembrance the Things You Love About Your Business
Focus your thoughts on the things you love about your business. Purpose to enjoy doing what you do, especially when you are under immense pressure. Ignore competition once in a while, and search within yourself and your customer base for ways to continually improve your offering. Find joy in both small and big accomplishments.
Be determined not to allow the Business Take up Your Life
The business can take up your life quietly, and you’ll find yourself working extremely long hours, and getting easily irritable. When this happens, it is important to make this season as short as possible, and regulate your working hours. Take breaks from work on weekdays and weekends, go on holidays. Switch off your mobile devices from time to time. Go out with family and friends. Be deliberate about having a life outside of the business.
Avoid Distractions and Constantly Stimulate your Creativity
Read material and watch stuff that help to build your mind. Learn and do new things, which will bring you out of your comfort zone. Don’t ever think you’re too old, too young, or too tired to do things you’ve never done before. Make no room for discouragement and doubt in your mind. If some things don’t work, try doing them another way, or try other things.
Don’t get too bothered if you don’t have all the Money You Want
It is very important that your business covers all its expenses (including your salary), and retains cash profit. A liquid and profitable business can be bootstrapped for growth, and it can also attract funding for expansion. It might take some time for the business to give you all the money you want. It is also possible that the business won’t give you all the money you want, but it will give you other things. Try not to get too bothered about money, live within your means and avoid personal debt. Be thankful for the opportunity to create something that others are willing to pay for.
Create Different Types of Employment at Different Stages of the Business
It is not all businesses that can engage and pay employees full time. Your business might require a network structure, where you collaborate with other professionals on client briefs. Your business might also require temporary staff and not full time staff. You’re creating income earning opportunities for others, whether you’re paying fees and wages, instead of salaries. It’s not a bad place to be, but it can get better. Don’t lose the desire to create full time employment for others. You can accomplish this by re-evaluating your business model, careful planning, and strong execution skills.