We are in the second month of 2022, and it is still early in the year and many of us are strategising how to tackle our goals. However, the term “New Year’s Resolution” can be triggering for many people as it throws their minds into flashbacks of unmet goals. But we owe it to ourselves to improve on whatever we have done previously.
Many entrepreneurs can attest to the wheel that is constantly on overdrive in their minds, perpetually thinking about the success of their business. This overthinking can often result in conclusions that are plagued with lies and fallacies and can subsequently impact how entrepreneurs approach their business.
“Everything needs to be perfect before I launch”
Perfection is a construct that can be dangerous to all who pursue it. It is natural to desire that the execution of business ideas is void of errors and loopholes. However, our reality is that, though we plan, there are often variables beyond our control. The entrepreneur that waits until everything is perfect may remain in the pool of prospective entrepreneurs for far longer than necessary. Launching a business is an incredibly big deal and therefore this reality check is not to trivialise but to encourage entrepreneurs to approach launching with sobriety and not with unrealistic expectations.
Perfection is unrealistic and burdensome, but the entrepreneur can pursue excellence and quality. To achieve something the business owner is proud of they must be diligent to do all that they can and it is important that theories, approaches and methods be thoroughly tested. The entrepreneur must invest time in reading, researching and receiving assistance from experienced individuals in the field. Giving due diligence to launching and exceeding limits you placed on yourself is a large part of what drives success and excellence. It is pivotal that excellence is the entrepreneur’s goal and not perfection, as it is a fallacy and causes undue pressure which can often result in stagnation.
“I’m not making any progress”
An unfortunate reality is that often lies can scream louder than truths and our minds can often fixate on negatives rather than our victories. An entrepreneur that will stay motivated to pursue their dream is one that celebrates small wins and makes note of their progress. Entrepreneurs should not downplay their victories or compare themselves to other small businesses around them. The entrepreneur must define for themselves and their business what true progress and success looks like and be able to applaud their own efforts as they inch closer to this.
To say that you are not making any progress is a pretty definitive statement, and the natural questions that follow should be, how do I know if I am making progress or not? What are the metrics being used to gauge success? Are these goals realistic and achievable? Am I being hard on myself? Yes, it is important to be real with the state of your business and to have those hard conversations with yourselves, but these cannot be baseless conclusions, they must be founded on realistic goals.
“I can do it all by myself”
In this time, there is a sort of over-glorification of independence, and while the reality of many is that they have chased and achieved their dreams with little input from others, people are still important in attaining goals. “Self-made” dreams are inspirational but can push a false narrative that each entrepreneur can do every aspect of their business by themselves. Many times people battle with this idea because they believe that they are the only ones that can do every part of their business perfectly. It is important that entrepreneurs know when to seek help.
There are ways that many small businesses can thrive with one person being in the driver’s seat and in the initial stages, you might be all you have. But as an entrepreneur seeks to expand and go global, there is additional assistance that will be needed along the way. The entrepreneur must be willing to hire staff in order to relinquish certain tasks or even outsource assistance towards growing their business.
“All I need to do is just work harder”
There is an expression that is commonly repeated that goes “work smarter, not harder.” It sounds good to say and some can attest to the efficiency that this mindset yields. However, there are some entrepreneurs that repeat this but have not put systems in place to work toward the goal of efficiency. In the beginning stages of many businesses, entrepreneurs are acquainted with the struggle of endlessly investing hours and resources into their idea. So many are guilty of whispering the lies that all they need to do is just put in the work and they will soon see success.
The truth is, there are additional things to consider in the success of your business which extend beyond working painstaking hours and running yourself to a pulp. Entrepreneurs must be strategic in their approach to working smart. It is important to be honest with oneself about the requirements of a task and the capacity one possesses to complete that task. It is also important to put boundaries in place while you pursue your dream, for the sake of both physical and mental health. Yes, the idea of delayed gratification is an important principle but the idea of burnout is also just as real.
Entrepreneurs must be mindful of the thoughts and lies they entertain as they strongly influence the quality they can put into their business. It is important for entrepreneurs to be honest with themselves and tackle the lies they hear with an objective look at reality, as well as remembering that undue pressure on themselves does not produce success for their business.
The Jamaica Business Development Corporation (JBDC) provides a range of hand-holding services that will guide you into becoming a successful entrepreneur ‘From Concept to Market’. Give us a call today at 876-928-5161-5 or visit our website at www.jbdc.net for details on how we can help you.