On the internet, it seems that there are millions of publications that teach you how to be a “entrepreneur.” Some people advocate for bizarre morning routines, such as getting up at 4 a.m. and meditating for 2 hours. Others encourage an unhealthy work-life balance, urging people to work 80-hour weeks in order to demonstrate how dedicated they are about their businesses. The fact of the issue is that entrepreneurs may seem and behave in whatever way they want. A business is what distinguishes an entrepreneur.
You, on the other hand, want your company to be successful. During the Making Bank Podcast, entrepreneurs go to the microphone to share their stories of how they achieved success. Similarly, there is no one “correct” road to success, and there is no one “right” routine to success, either. However, throughout the years, the event has consistently emphasised the same characteristics that may assist in the establishment and operation of a long-lasting organisation. While you’ll need all of these characteristics at all times, some characteristics will be more beneficial to you at particular phases of the firm.
Neuroscientist Steven Kotler speaks in the ninth episode of Making Bank’s sixth season on peak performance. Peak performance is a term that is often used in the business world, and it refers to the process of optimising your abilities in order to perform at your best. Discipline is a strong advocate for optimal performance, and it is the first and most visible characteristic that helps entrepreneurs achieve success. Despite the fact that it seems to be well-known, it might be one of the most difficult to master. Whether you are just starting out or attempting to expand your company, discipline helps you to take little steps toward your objectives on a consistent basis. It would be almost hard to complete the tasks you have set for yourself if you did not have it. Remember those articles and videos that spoke about the importance of having a rigid morning routine that starts early in the day? Those are efforts to instil a sense of discipline.
This is the problem. Discipline is concerned with long-term viability. It is not only important to commit to something, but it is also important to commit to doing it often and effectively. Consequently, if the thought of waking up at 4 a.m. does not appeal to you, refrain from doing so. Even if you have a lot of personal discipline, if something causes you to be fatigued, uncomfortable, or otherwise out of sorts, it is not worth it.
If you’re like most people, staying up late into the night is what leaves you feeling fatigued, unpleasant, and out of sorts. If you like to be in bed and up early in the morning, then choose that route. Discipline might be difficult at times because we believe it must be painful and humiliating. If you want to be validated, you must go through “a grind.” The truth is, you don’t have to demonstrate your discipline in front of anybody. It does not make you more disciplined than someone who gets up at 9 a.m. and doesn’t work on weekends since any extreme is not sustainable over the long term. Unless it becomes financially feasible, there is no way you can keep your commitment going indefinitely. So, don’t be concerned about what the entrepreneur in front of you is doing, since you are not. Your outcomes will be a reflection of your dedication to the task at hand.
Diligence is the next characteristic that any entrepreneur must possess. Making Bank Podcast guest Jonathan Feniak explains the significance of doing thorough research before starting a company, particularly when it comes to the legality of your venture. This podcast is from Season 6, Episode 11. While making certain that all of your legal ducks are in a row is critical, I believe that research in other areas is equally crucial.
The fact of the matter is that once you make the decision to establish a company, you are no longer considered an employee. It is not your responsibility to sit about and wait for your work to be assigned to you, or to report to a supervisor when difficulties emerge. The entrepreneurial attitude, which involves being meticulous in everything that you do, must be adopted when you are a business owner. If you choose to slack off at work, your company will suffer as a result. If you neglect to send a follow-up email, you may lose out on a valuable business opportunity. The responsibility for ownership is totally on your shoulders. While this may seem to be a difficult task, it is also really thrilling. You have as much control over your career as anybody could possibly have, barring unforeseen circumstances.
In order to be successful, everything you do must be comprehensive. Once again, as an employee, you have the right to clock in and out and expect to be compensated. Whether you labour for two hours or twenty, if you are not completing transactions, enhancing your product, or selling, you will not earn any money as a business owner. In other words, whether you work 5 hours of quality time a day or 10 hours of less concentrated time, you must be sure to cross all of the Ts and dot all of the Is. Because no one else will do it for you, you must double-check every detail on your own.
While it seems to make sense on paper, maintaining a high level of diligence may be difficult. There will be days when you are weary, overworked, or just not feeling up to the task at hand. That’s when you’ll need to exercise your self-control.
The capacity to self-reflect and self-improvement is the last and maybe most significant characteristic of an entrepreneur. While it is unquestionably necessary to perfect your discipline and diligence, such traits will be rendered ineffective if they are used in the incorrect areas of your life. Throughout the course of your company, you must constantly question yourself, “Can there be a better way to do this?” Sometimes the answer is no, but the majority of the time it is yes.
Self-reflection and development enable you to make the most of all of your other abilities in order to go in the correct path. So keep in mind to regularly and persistently reflect, change, and move ahead in your endeavours. At the end of the day, you might be the “most qualified” entrepreneur in the world—but if you’re on the wrong route, you’ll never go where you want to go.