Secrets fly at you a million a minute whenever you are entering a new enterprise. From the local bookshop to your meeting at the bank, everyone will have advice for you and your entrepreneurial future.
Anyone who has been on the receiving end of this type of talk, however, knows that not every piece of advice that you will hear is sound. Instead, you have to sift through everything you hear to absorb and consider the truths that really matter.
Finding that truth behind success can be hard. Instead, why not rely on the little-known secrets that can lead you to true success?
These 4 secrets have proved themselves time and time again. Now, have them help you!
One: Accept Your Laziness
When you think of your role models in the business world, you have probably never considered that they might have a lazy side just as much as you do.
We’re all lazy in the right moments, and how we handle that laziness is a key factor in deciding how much we are able to accomplish in a day or week of work. If you refuse to accept that you are lazy, you will never be able to address it appropriately.
Instead, embrace that you are lazy, and make it work for you:
- Figure out what sends you into a lazy rut
- Find ways that work to combat your laziness
- Take rest days when necessary to temper laziness
- Set up simple task lists for days when laziness is winning
Once you become aware of the fact that you are sometimes lazy, you will be better able to combat that laziness. If you don’t acknowledge the problem, the problem can never be solved. That same phrase can be used in many parts of a business, but it especially applies here!
Two: Balance Your Risks
Many people believe that entrepreneurs are successful because they are willing to take huge risks that normal people simply could not take.
While this might seem like the truth at surface level, the hidden fact is that many of the risks taken that seem huge to an outsider are actually well-calculated and carefully thought out decisions.
Risks are only good if they are mitigated risks. Risks that you have done your homework on. Taking unnecessary risks is unlikely to lead to success; taking risks that have a solid backing give you a much better chance.
Think about the ways that those who are successful in their industries mitigate their successes:
- In stocks, an investor might put a lot of money into a relatively unknown company, but they only take this risk after researching it extensively.
- In real estate, a landlord might take a risk on a new tenant moving into their property, but they only take this risk after getting help from a tenant screening service to lower their risk.
- In manufacturing, a business owner might put a lot of money into promoting a brand new product, but they would only do so after doing trials to predict the success of the product before taking that risk.
Remember that taking a risk for the sake of taking a risk is never a good idea. Instead, take risks when the world seems to be supporting you and cheering you on.
Three: Focus On Your Mistakes
A common expression that people use in everyday life and business alike is “don’t cry over spilled milk.” In other words, many people recommend not worrying about the mistakes that are made or things that go wrong and instead focus on the future.
To some extent, that is sound advice. If you spend all of your time thinking about things that went wrong, you will never make any progress. As an entrepreneur, you cannot possibly succeed without making progress!
The secret that successful entrepreneurs know, however, is that you have to give some amount of your focus and mental energy to the mistakes you make and what goes wrong.
In particular, you need to think about:
- What went wrong?
- Why did it go wrong?
- Could I have prevented it by being less lazy or more focused?
- If not, how could I have prevented it?
- Will this mistake or overlooked detail have a long-term effect on my business?
- Should I take time to fix this issue before continuing, or can it be ignored?
By taking time to fully understand the mistake that was made and how it is going to fit into your plan for success in the long run, you’ll be better equipped for your future.
As someone in business, you need to use your mistakes to better your future. The secret to doing that is spending the right amount of time figuring out what the problem truly was and then moving forward!
Four: Limit Who You Care About Serving
When you get into a new venture, you might be tempted to constantly re-envision who your audience is going to be. Sometimes, this will be because your great aunt says you should make something that her friends would like, too. Other times, you’ll get carried away with a tangential idea.
And it is okay to change who you care about making a product or service for.
However, you must remember that you cannot make something that is for everyone. At least not from day one!
Everyone dreams of building a product that will be simple and effective enough for everyone in the world to want to use it. That’s a great dream, and it helps many entrepreneurs sleep soundly at night.
But that is not a dream that you can feasibly reach for on day one. On day one, you need to build a specific product with a specific use. You’ll have to make choices about your ideal audience and clients as you work, and in the end, these tough choices will make you more successful.
Find Success With These Tips
Did you know any of these amazing secrets to entrepreneurial success? If you did, congratulations! You’re already on the road to finding success throughout the future of your business.
Even if you’re just learning these secrets now and will implement them in the future, don’t worry. There’s time to find your perfect path to success, and these practical secrets will help you gain confident footing as you move down that road.
Sabine Ghali is Director at Buttonwood Property Management, a property management company in Toronto. She is an entrepreneur at heart who endeavors to help investors create real estate wealth over time in the Greater Toronto Area. Sabine is published in a number of media outlets, including Toronto Sun and Gulf News, among many others.