There are many different components that need to come together to create a successful business. You, as an entrepreneur, are a huge part of what creates the success in your business. Your personal habits and struggles can either cause your business to flourish or have it end up becoming another statistic.
Each of us will always deal with struggles in our lives, but there are five common struggles you can overcome to become a better entrepreneur. It won’t happen overnight, but with awareness and a willingness to do the hard work; you can stop giving into the struggles that keep your business from explosive growth.
1. Constantly reacting with emotion.
It’s natural to want to react in the moment, but it’s rarely smart. There are some decisions you should make based on more than just the facts—like certain moral choices you personal want to make. But, a majority of business decisions should be based on research and facts.
When you are faced with a situation where you feel your blood rising, stop. Close your eyes and start breathing deeply. The American Institute of Stress says that breathing deeply helps reduce your blood pressure, helps you calm down, and relaxes your muscles. Successful entrepreneurs have learned to be the master of their emotions. They learn to absorb the situation and then react rationally.
2. Unwillingness to admit when you’re wrong.
None of us ever want to be wrong, but that’s impossible in life. There are many times when we make the wrong decision in our business—how we react will determine whether or not there will be a successful outcome. When you let pride come before growth, your business suffers because you’ve clouded your clarity. When you’ve picked the wrong strategy or trusted the wrong person, admit it and move forward. Don’t dwell on the mistake. Learn from it and come back stronger and smarter.
3. Dismissing sensible advice.
There is a lot of bad advice that you receive as an entrepreneur. There is also good advice that may not be right for you. However, there is some advice that could help your business grow. You could be dismissing this advice for a number of reasons. It may be pride; it may be that you have a hard time accepting help from others—you’re battling the “do-it-all” syndrome. Whatever the reason is, you are missing out on an opportunity to learn from someone who has done what you’re trying to do. It’s a bad move if the advice can help you. Kick pride to the curb and evaluate the advice. Get honest about whether it can help you.
4. Letting envy sidetrack you.
Being envious is described as “a feeling of covetousness in regards to another’s advantages, success, or possessions.” We live in the digital age and have access to other entrepreneur's successes daily through the Internet and social media. When another entrepreneur posts a win in their business, it’s easy to let envy cloud your focus. You spend more time than you should thinking about why and how they did what they did, and why things never seem to go smoothly for you.
Envy is a growth killer and one of the easiest ways to get sidetrack from the plan you set and the goals you’re trying to accomplish. Envy is natural, but it is an area of your life that you can manage and eventually control. Don’t let it keep you from growth.
Related: Overcoming Entrepreneurial Envy
5. Losing your momentum at the first sign of resistance.
Failure and risk are a part of every business. They offer opportunities to learn caution and grow as an entrepreneur. It’s natural to want to run at the first sign of trouble, but it’s not what will make you successful. Setbacks are difficult, but they don’t have to ruin the momentum you’ve built through hard work. This is an area you can overcome by creating a solid growth plan and sticking to it.
Your personality is what makes you who you are, and that is the person your customers want to do business with. Your goal isn’t to completely change or try to be like someone else. Your goal is to work on overcoming changeable struggles that don’t fit into your plan for your life and business growth.
Personal development has been around for hundred’s of years for a reason—it works. Read inspiring books, watch videos that inform and educate you, and listen to podcasts that help you beat any self-limiting beliefs. Don’t let these struggles keep you from what can be a great year in your business.