BUSINESS TIPS

Self-motivation is the key to success and will achieve powerful results.

Lately, many self-proclaimed business gurus have maligned the idea of pursuing a passion as bad advice. They dismiss it as an oversimplification, and to an extent, they are right. It is not as simple as it sounds. Clarifications and additional considerations are essential. So, what is the best way to tap into your self-motivation and start a new business? First, you need to do some self-reflection. What are your core values? What experiences have shaped you? How do you define success? Next, think of your dream job as actually a constellation of overlapping desires. Yes, you want to pursue something you love, but you also want to make a reasonable income, have time for leisure activities, save for retirement, and live where and how you want to. Along the way you will undoubtedly have to make some compromises and adjustments. It is important to recognize that career satisfaction will emanate from many sources.

Also, you need to clearly define your passion. It cannot just be a broad area. You must translate your dream of success into a series of small and large goals and differentiate them from wishes.

n addition, here are seven goal-setting steps that I think all entrepreneurs will find useful.

• First, you must write your goals down. Otherwise, they are simply New Year’s resolutions, which are soon forgotten.

• Next, be as specific as you can when writing goals. Instead of, “I want to raise my company profile in the community,” write, “I will volunteer my company’s resources once a month to a specific community organization.”

• Express goals in positive words. Don’t think about driving the competition out of business; think about how your product or service can fulfill an unmet need.

• Make sure the goals you choose are yours and not someone else’s.

• Put time limits on your goals. How else can you hold yourself accountable?

• Give yourself a score at the end of your time frame. If you didn’t succeed, do you want to keep trying for this goal or do you need to make some alterations?

• And finally, set goals in all areas of your life. You need to stay balanced to be truly happy. Your emotional and physical health is as important as your financial health.

Keep an open mind about following your passion. Be flexible. Don’t assume you will hit the center of the target on your first try. Once you embark on your business idea, you may discover business categories you never knew existed that can relate to following your passion. For example, the emerging technology of 3D printing has created a slew of new entrepreneurial opportunities that weren’t even possible two years ago for a variety of industries. With a modest investment of under $5,000, a budding entrepreneur can start a 3D printing business that can provide multiple applications, whether it be crafting custom wearable designs or creating vintage auto parts. According to both to Forbes and Business News Daily, the concept of 3D printing-as-a-service franchise is about to go mainstream.

Overall, be willing to learn from your mistakes. I sometimes think we should declare a national holiday to honor the errors we make because this is how all of us learn. Mistakes are a key element of growth and success, especially for new entrepreneurs. Those who ignore the lessons mistakes teach us won’t stay in business for long.

And lastly, never forget that you live and do business in a community. Temper your sense of “rugged individualism” with an appreciation for the roles others play in helping you pursue your passion. Create a business that is uniquely yours, but also find a way for your business to contribute to the well being of your community. As Thomas Watson of IBM once said, “To be successful, you have to have your heart in your business, and your business in your heart.”

As I’ve indicated many times, I am strongly motivated to share insights about my entrepreneurial success, and I likewise encourage you to share your tips for success. You will never know the people you might be helping, but by sharing, you will be validating your own passion, and your enthusiasm for entrepreneurship will deepend

Success is every entrepreneur’s dream. To get there, effort should be done on oneself and on one’s people. There is no magical key, but experience has shown that the entrepreneur should work both on the intellectual and organizational levels of the business. In fact, the two go together. Successful entrepreneurs are those who overcome both objective and subjective hurdles. Below, are twelve tips on how to conquer and succeed in a world that is changing so rapidly: