How can Entrepreneurs Stay Motivated
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When you are running a business, no matter how many times you face failure, it is important to never back down. The start of an entrepreneurial journey is always tough, but individuals should stay motivated during those hard times and keep at it. It’s only when a founder is spirited to take on the tasks for the day that his/her employees too look forward to completing their targets for the day.
No Motivation, No Growth
Be it an early-stage start-up or a late-stage one, for any company to scale, staying motivated is a key trait its founder needs to have. Lack of the same could have disastrous effects on the company — deadlines are missed, employees begin to have a lackadaisical attitude and eventually the revenue or growth is affected.
Therefore, a founder needs to be more alert of his or her mood at work.
Nithin Kamath, founder of Zerodha, an online-only Indian discount stock brokerage, said staying motivated isn’t a difficult task for an eternal optimist like him. “I also try to lead a balanced life, finding time for family, sports, music and travelling,” said Kamath.
Mentor and investor Rakesh Bhatia seconded Kamath’s views and stated that motivation can come from various places. For your work to reflect an optimistic growth, you need to go beyond the work environment too at times. “Remember that entrepreneurship is a marathon and not a sprint, don’t burn yourself out. Don’t miss out on having fun, spending time with your family and friends once in a while and sleep while keeping your eye firm on your targets,” said Bhatia.
A Founder’s Strength – His/Her Team
The strength of a founder lies in having a strong team and to make sure that the team spirit is always high. Kamath opined that his own motivation level rubbed off on his team. “I also make sure to constantly reiterate the long-term vision for the business to the team, make sure everyone knows their part, and grow inclusively,” he said.
While fun is a part of work, for most start-ups their work is fun, which keeps them motivated. At ClearTax, they believe that it is their vision of simplifying taxes and compliance that keeps them driven. “Every single time a client writes back to us with appreciation for our product or support, we know that we are one step closer to achieving our dream and this is what keeps us going,” said Archit Gupta, Founder of ClearTax.
What entrepreneurs need to keep in mind is that even after a failure, regaining motivation is the key to success. While it won’t be something that happens overnight, the trick lies in pulling yourself out of the situation, find solutions with the help of your team members and start afresh.