One of our most debilitating traits is to only focus on the grand achievements of successful people and companies. Overlooking the struggles they would’ve faced along the way.
This type of mentality only sets us up for failure, especially as entrepreneurs. Because of our unrealistic expectations of what it takes to get to where we want.
The truth is, everyone will face struggles at some point along their journey to success. But in the past this topic wasn’t really up for discussion, as business leaders would avoid showing any signs of vulnerability in an effort to prove they had everything together.
And of course, this led to mainstream society thinking success was unattainable. Instead of pushing through, people would give up at the first sign of struggle, because of their belief that it shouldn’t be that hard to get to where they want.
So the true path to success doesn’t just rely on your finances and entrepreneurial abilities, but also on your ability to handle whatever obstacles are thrown at you.
You will face challenges, it’s inevitable. Especially when you’re setting about starting your own business. The question is, how ready are you to manage these situations?
For some entrepreneurs, developing a strong mindset takes years. For others, it comes quite naturally. But no matter where you fit, if you’re going to survive the ups and downs that could make or break your business, you’re going to have to develop a mindset for success.
And here’s how you do it…
Common Emotional Challenges for Entrepreneurs
Firstly, you need to understand the types of obstacles you could be faced with as an entrepreneur. Let’s discuss some common emotional challenges:
Emotions vs Logic
Many digital entrepreneurs invest everything they have into making their business work. So naturally, there comes a lot of emotional attachment with that investment.
To an extent, your business becomes like your baby. You see it grow up and stumble as it tries to move forward. You worry when it isn’t doing well and you want to take care of it to the best of your ability.
But, when emotions are high, it can be difficult to make sound decisions in respect to your company. Detaching yourself emotionally shows a fantastic degree of psychological maturity but of course it can be difficult to achieve.
Lack of Patience
The degree of patience you have significantly reveals how mentally and emotionally stable you are. But sometimes your business can fail to cover your bills month after month and shows no signs of coming out ahead. In those testing moments, that strong mindset you started with, slowly fades away.
You may want things to work out right away and find yourself frustrated when success doesn’t come as quickly you had hoped. It can have a huge emotional toll, and you may even be tempted to give up on your business. But who is in control? You or your emotions?
High Pressure Environments
Every entrepreneur knows that operating a business is no easy task. Getting the desired results will require all the willpower you can summon up as you attempt to handle stress coming at you from all over the place. If you can’t handle that stress, it could get the best of you.
When pressure is mounting how do you manage it? Do you cower as a deadline approaches? Do you shy away from uncertainty? Do you cringe whenever you need further finance for your company? People who have developed a success mindset don’t let these challenges define them.
Even when you’re under pressure it’s important to keep up positive appearances for your business. If you have a team, they’ll be looking at you for direction and that just puts more pressure on you to be on top form at all times.
This is another reason why it is so important for entrepreneurs to develop a strong mindset. How you respond to uncomfortable situations will affect how people around you behave as well, so you’ll often be expected to lead by example.
Weight of the World
When your business experiences major setbacks it’s on your shoulders to resolve them. It’s up to you to make the right decisions for your business to move forward. This can become weaken your mental resolve very quickly and become very lonely territory. One entrepreneur has deemed loneliness as “the real silent killer” for entrepreneurs. Why?
Well, when all is said and done, the success of your business is entirely dependent on you. You may have people working for or with you, but they’re not going to be as emotionally invested as you. After all it’s not their name and reputation on the line. That is a huge responsibility and sometimes it can feel like you have the weight of the world on your shoulders.
Doubters and Opposition
No matter how excited you are about your business, there are always going to be people around you who just don’t support you. These people are generally the closest to you. Not because they don’t want to see you do well, but because they think they’re being the voice of reason. They will impose all their doubts and fears on you and try to talk you out of going for your dreams.
As if that wasn’t enough, you’ll probably face financial struggles or lack of funding. Then you’ll see competitors getting ahead of you. By this point you may start to think about giving up. The truth is, all great achievements were met with some form of opposition.
What you choose to do when those difficulties arise is what will define your character and success. When the going gets tough, you need to keep going!
Taking Back Control
So now you know about the challenges you’re likely to face as you go about your entrepreneurial journey, how do you actually go about making sure they don’t stop you from succeeding?
Limit Your Risk
You’ve probably been told not to let fear get in your way of taking risks. While this is true, some risks may not be worth it if they’re just going to cause more stress which in turn weakens you mentally.
Set yourself limits and take risks within reason. Don’t quit your job when you haven’t made a dollar online yet. This may mean working harder for a short period, but in the long run it will be better for your sanity. Starting a business is meant to be something that brings you joy, not give you a nervous break down.
Connect With People
Entrepreneurship can get lonely so you need to have a strong support network in place if you want to get through the stresses of running your business. You want to connect with people who understand what you’re doing and can help you through your slumps. So friends and family probably won’t suffice as they’re more likely to say “I told you so” when things go wrong.
Attend networking events, join online support groups, find a mentor and team. These are the people who will be there to get you back on track when you’re struggling. With technology advancing at lightning speeds you can have a worldwide support network on call whenever you need.
Have a Life
This is so important. Think about one of the main reasons you wanted to start an online business in the first place. It was probably to stop trading your time for money, and actually be able to enjoy your life right?
So if you then put every waking second into your business, that will become all you are. Part of who you are is an entrepreneur, but you should never allow it to become all of you. You need to have balance and happiness in other areas of your life as well. Take time out for your hobbies, to be with your loved ones, to enjoy yourself. And don’t feel guilty about it. That way, when there are low points in your business, you will still be able to find the strength to carry on.
Many entrepreneurs all into the trap of thinking failure is the end of the world. They dwell on this and allow it to consume them to the point where they can’t move forward and inevitably quit.
One of the keys to a successful mindset is to see failure as a good thing. Failure allows you to learn and grow and helps you to become stronger. Not only that, but you can use your failures as a way to help others by sharing your experiences so they can avoid making the same mistakes.
Developing a mindset for success won’t be easy. In most instances you’ll have to completely rewire your brain and this takes a lot of work. Change won’t happen overnight but as long as you understand how important your mindset is to your success, you will be able to take control of any situation. And that will play a very significant part in your ability to go out and succeed.