The 5 Truths You Need to Know About Entrepreneurship
The 5 Truths You Need to Know About Entrepreneurship
Expressing your desire for entrepreneurship 15 years ago would have created laughter and an assumption that you’re crazy. The tables have turned, and entrepreneurship has become one of the most respected and intelligent paths to take. I’d go as far as saying it’s saved our economy, and continues to move our culture forward. Dream “jobs” are disappearing fast, and creating your ideal opportunity is the new normal. A lot of people are getting into entrepreneurship with a blurred perspective, thinking all you need is passion and work ethic. Those people are in for a rough ride, unless they understand these powerful truths and adopt the proper perspective. Realize you can either play it safe or become successful, but you can’t do both. Entrepreneurship can be a dream come true, but you must know these truths.
1. It’s Not Easy But It’s Worth It: If becoming an entrepreneur was easy, everybody would be doing it. It also wouldn’t be worth much. The bigger the goals, the bigger the challenges. The bigger the rewards, the tougher the journey. The moment you pursue entrepreneurship obstacles will show up. They are there to test your character, faith, and to see if you’re really serious about becoming an entrepreneur. You must focus on the rewards on the other side of struggle. Visualize how good it’s going to feel being your own boss, controlling your schedule, inspiring others, and creating financial freedom. When you strive for Entrepreneur greatness, chaos is guaranteed to show up. It’s important you accept this instead of fighting it. You’ll never know how strong you are until being strong is the only option you have.
2. Resourcefulness is the Ultimate Resource: The majority of people will say they don’t have the resources. This resource belief structure keeps most people from succeeding, and building the world class businesses they are capable of. The great entrepreneurs find a way to maximize whatever resources they have as little as they may be.They don’t believe in limited resources, and they understand the ultimate resources are the feelings and emotions that make them resourceful. Tony Robbins says is perfectly “Resourcefulness is the ultimate resource.” What are the emotions and fuel you need to take bigger action and become more resourceful?
“Resourcefulness is the ultimate resource.”
— Tony Robbins
If you don’t have the money, but you are creative enough can you find the money? YES! With enough determination and commitment can you make it work with little resources. The ultimate key is internal emotions.
3. Your Circle of Influence Will Make or Break You: The most common weakness of new entrepreneurs is leaving their minds open to the negative influence of other people. Poor choices of influence heads the top of the list of reasons most entrepreneurs quit prematurely. It’s hard to grow, learn, and become the person needed to reach big success, without an exceptional network supporting you. Successful entrepreneurs do everything they can to surround themselves with a powerful circle of influence that can guide them, challenge them, and help them think bigger. Success rises and falls on who you associate with, so make sure you stay aware of your surroundings. You can systematize a lot of things, but time isn’t one of them so make sure you’re spending it with the right people. Like my boy Grant Cardone says “More important than mentors is who you’re staying away from.”
4. Habits Trump Inspiration: Habits will always trump inspiration. Inspiration is needed to create consistent action, but your habits are ultimately going to define your success or failure. It’s been said after seminars and conferences only 5% actually use what they’ve learned. Why? It’s because inspiration is short term, and feels good in the moment, but doesn’t last past the activity producing it. I’ve realized that’s the biggest inspiration of all is seeing progress and results: which comes from new habits. When you begin the formation of a new habit, stick to it, and see the lasting change in your new-found life. Great entrepreneurs focus on behavior and habits more so than thought. Thinking is important, but doing is crucial.
5. The Only Thing Guaranteed is Failure: How you respond to failure determines your success. High tolerance for stress and pain is a skill successful entrepreneurs are paid for. Successful people see failure different than the majority. Staying loyal to yourself through failure is extremely important. Instead of taking failure personally, use it to sharpen your perspective and strengthen your commitment. Most new entrepreneurs beat themselves up, but if you want the competitive advantage you must leverage failure for even greater success. Failure can add to your hunger, and real hunger comes from tough times. Good luck finding hunger in the kids who have had everything given to them.
“I have failed over and over again, but that’s why I succeed”
— Michael Jordan
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“Peter Voogd inspires us to re-think everything we’ve learned about Entrepreneurship, and focus on the timeless values necessary to succeed.”