4 Ways to Stay Mentally Healthy in a Dynamic Environment for Young Entrepreneurs
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
A sound mental health can very well be the difference between a successful and a struggling young entrepreneur. In this dynamic arena, there are some rules which can eliminate stagnation in young entrepreneurs.
#1 One book per week rule
Haruki Murakami, a Japanese writer says ‘if you only read the books everyone else is reading, you’ll only end up thinking what everyone else is thinking.’
However well one does for oneself, you have to agree that the early twenties is still a malleable and impressionable age. Inculcating this habit is not a measure of success but definitely a measure of growth in one’s life. Everything that you and I know is sourced out and every great book has only a couple of things we can take away from it. The book ‘Rich dad poor dad’ by the legend Robert Kiyosaki is a must read for a person with any interest, profession or passion solely because it teaches you what money is. If you are in any realm of life, be it painting, architecture, baking, you’ll still earn money from it. In the end, you should know what to do with that money. But this is only one example. You never know what strikes when.
Being a young entrepreneur, it’s imperative that one takes full accountability for his decisions and actions. This is for both your personal and professional lives. If you know that you have no one to blame but yourself, you’ll be mentally free to try out new ideas, new ventures and new ambitions without any baggage on your mind. Why your previous start-up didn’t work? It wasn’t because of your partner, it was because of you. Get that in your head and you will be in a clear space. One of the most tempting things that we are accustomed to do is play the blame game. That will only result in stagnation. Some people sit and grow and the others indulge and grow. The important part here is to grow.
#3 ‘Getting Rich Quick’ doesn’t exist for 99% people
The thing with a lot of young entrepreneurs is that they set very short term monetary goals for themselves and when that doesn’t pan out well; they start thinking that they are not doing a good job.
Everyone should understand that it is not once in a year poker game, where you make $5000 and that’s it. That will happen once, maybe twice but that’s about it. It’s a long term game where you build up that person who is going to outwork himself every day in order to finally out-earn himself. It’s all about patience and the right attitude just as Drew Houston, CEO of Dropbox says ‘Don’t worry about failure, you only have to be right once.’
#4 Analysis Paralysis
The young blood wants to try out different ventures for you don't really know what might actually hit off for you. That can be both a boon and a curse at the same time. The one thing that people don't realise is that thinking of ineffably innovative ideas is the completely opposite to actually implementing them. Anything which is just in your mind is only an idea until you execute it and give a proof of the concept. Creative people have a knack of getting unreal ideas in their head but the sad part is they end up staying in their head. I've seen insanely talented people with a great knowledge of the stock market and yet don't end up making capital gain because they analyse much more than they should.