Entrepreneurs

How To Tackle Ups and Downs as An Entrepreneur

As an entrepreneur, the aftermath is an integral chunk you can't miss on
How To Tackle Ups and Downs as An Entrepreneur
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Guest Writer
CEO, 360 Degree Technosoft
4 min read
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Have you watched “Wolf of the Wall Street”? Now, that’s exactly what this article is all about. Entrepreneurship is of course not an easy job. First pressure of startup then if it turns to be a success, maintaining that success and keep going — yes it’s a continuous job. Well, if you weren’t ready for these challenges, why would you quit your 9 to 6 job and take such a huge risk? To quit? No, right!

Life’s a continuous fight, you don’t stop going out after the hurricane, you don’t stop using elevators once you get stuck in it, you don’t stop driving once you had an accident. So, how can you just quit being an entrepreneur with just one fall? I know talking is very easy, but living in that moment, keeping patience and not quitting is exhausting. In the situations when we feel that we are broke, we connect to our near and dear ones, consult, take motivation and inspiration and that boost the strength to stay strong and get going. Here are some of the tips that can assist you when you are facing your business tornadoes.

Frame a Post-loss Plan

As an entrepreneur, the aftermath is an integral chunk you can’t miss on. Once the business kicks off, you get tangled with the routine tasks in a way that you don’t focus on the bigger picture. Entrepreneurs tend to work according to the plan but fail to plan for the unexpected contingencies accordingly. Even when the thought hits the mind what if this happened, you don’t frame a backup plan for the same. What’s the point of crying when terrible situation knocks the door? It’s impossible to predict what new trouble is coming your way and a full-fledged planning to cope with that. What you can do is have a defined strategy to stand up from all the loss it made. 

2. Be Positively Prompt

There have been entrepreneurs who keep the things pushing for future. This is kind of people who don’t reject straight away and don’t accept immediately too. We will see, we will think, it’s not bad let me look forward to it....this is generally the kind of replies they give. Now this includes both opportunity grabbing and problem-solving, both are the scenarios to act on positive and prompt. Let’s take the reference of Wolf of the Wall Street again, facing the challenges on the face and solving it time and again is something an entrepreneur should be enthusiastic about. Know fast, think fast and act faster, the mantra to successful entrepreneurs.

Innovate Like a Startup

Once you are at an established position, you act monotonously and that can be the start of your downfall. Same ideas and same set of issues but run your mind like you are still a startup and you will find an intuitive way to overcome that. You can take the example of one of Bollywood celebrity Alia Bhatt. She was trolled on one of the foolish answer given by her. Well, this resulted in numerous jokes being made on her. She accepted it in a way that made her viral and in a very strange way added to her brand equity. So, you can make the worst situations work in a beneficial way for you, if you think in an innovative manner.

4. Partner to Get Better

Collaboration can sometimes save up. Have you heard, “The more the merrier”? Well, yes, this should not be implemented all the time but when you are drowning, calling the lifeguard is the smart choice to make. Find your business lifeguard and convince him, you guys can work better and partnering can make your businesses more lucrative and prosperous.
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