Managing the Entrepreneurial Roller Coaster
If you judge the entrepreneur’s journey based on Photoshopped social media images, you’re getting only five percent (at most) of what it’s really like to be an entrepreneur..
One moment being an entrepreneur feels like the best day of your life. Five minutes later you could easily be asking yourself, “Why am I putting myself through this?” and questioning whether to stick with it.
Like anything else in life, being an entrepreneur has flip sides. Your ability to manage the rollercoaster of those flip sides determines how successful you not only become, but how successful you stay.
In this week’s episode James and Dean share their real world tips for managing the entrepreneurial roller coaster. Learn how you can avoid mistakes they made, and get the exact tactics and mindset they use to manage their own entrepreneurial journeys.
Stop comparing yourself to slivers
Most people don’t post on social media about the day to day challenges of running a business – the disappointments, the struggles, the moments where you’re terrified and failing. All you’re shown are the triumphs. Success is part of the entrepreneur’s journey, but so are the struggles. Remember that the next time you start feeling inadequate after encountering someone’s post about their amazing results or a trip they took. You’re only seeing one little sliver of their life, and none of what they endured to get there. Instead of comparing yourself to other people’s slivers, remember that their journey is theirs, and yours is yours.
Eliminate overwhelm with clarity
Years ago James and Dean realized that when they felt the most overwhelmed, it was due to a lack of direction. Without clarity on where you need to be focusing, it’s all too easy to get swallowed up by the day to day grind, where you’re making decisions but not making progress. When you find yourself in that situation, a sure way to burn out is to hunker down and try to hold out. Instead of sticking your head in the sand, face the situation. Take an honest look at what’s going on. Only by doing that will you get the clarity you need to solve your situation.
Hustling isn’t your savior
The 24/7 hustle disease is rampant in entrepreneurship, and many entrepreneurs are under the mistaken impression that if they just hustle long enough, everything will be okay. But believing you can hustle your way to success is like believing that new tires and a new coat of paint will fix a car without an engine. Without an engine, that car’s going nowhere. James and Dean know people who’ve been hustling for 10, 15, 20 years, and are no better off now than when they started. Yes, effort is required to grow your business. But it has to be focused on the right things. Otherwise, you’ll be what’s called the busy fool – hustling away with nothing to show for it.
Say yes to the right things
Don’t feel like doing the things you know will bring you closer to success? Do them anyway. People who get the result they want say yes to what moves them closer to their goals, regardless of how they feel in the moment. If you want fitness, say yes to going to the gym instead of an ice cream binge. If you want to grow your business, say yes to emailing your list instead of watching another Netflix show. This isn’t to say you have to hustle 24/7 and never enjoy your life. Just get into the habit of saying yes to what moves you closer to your goals – especially since, each time you say yes, it gets easier to say yes next time. That’s true whether you’re saying yes to the right things, or the wrong things. Say yes to the right things!
The world is created by people no smarter than you
James and Dean are experimenting with a new feature on the show: What’s going on NOW in the world of business. Tune in to hear their take on Jeff Bezos stepping down as Amazon’s CEO, including lessons they share pertaining to this week’s topic of managing the entrepreneurial roller coaster. You’ll especially want to catch the part about avoiding the pitfalls that come with comparing yourself to other entrepreneurs.
Outline of This Episode
- You’re not seeing the whole story [7:10]
- Eliminating overwhelm [15:31]
- Don’t be a busy fool [25:22]
- Hustling won’t fix it [29:01]
- Your only REAL competition [34:00]
- Know your why and power through [40:41]
- What’s going on in the world of business [45:10]
Resources & People Mentioned
- v2b.jamespfriel.com
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
