New year is a great time to look back and learn from the past, and plan ahead in forms of resolutions. Although there is no specific time to set goals as you probably need to do that even if it isn’t new year, it is always best to write them down — you are more likely to reach your goals that way!
We have collected practical and timeless advice from successful founders from different industries that you can reflect on as you jump-start your entrepreneurial career. These are goals that every aspiring leader can definitely benefit from as these will help you gain more confidence for yourself and your business.
Are you ready to conquer 2018 yet?
My advice would be believe in yourself, make 2018 the best year and remember that when one door closes, another one opens and stand up to the challenge.
My advice for aspiring entrepreneurs in 2018 is to really understand your passion and why you will be still be solving this problem for years to come.
Before venturing into the entrepreneurial journey, you should secure other fronts first. Secure your financials first, too much dependency on venture funding might ruin your dream. It’s always better to bootstrap, clearly define your business plan and financial projections before starting your journey. And give at least two years time to your idea before dropping it.
Life’s a teacher and when it comes to teaching our students, we’re mere facilitators. As educators, we have the obligation to push each and every student to and beyond his limits. We help to ignite the spark of eagerness and the drive needed for students to strive.
2018 is going to be a testing year for all entrepreneurs wherever we are in the world. The science is clearly indicating that climate disruptions such as an increase in hurricanes caused by warmer ocean surface temperatures and severe weather extremes will be on the increase. Businesses will be disrupted to a greater or lesser degree. Do not bury your head in the sand. Read the science and trusted commentators and design in ever more resilient systems. Ditch the vanity projects, the unnecessary expenses that make you feel ‘successful’, and go lean and efficient.
Look at every single cost your business incurs and shave away all unnecessary expenses. Develop your capacity to work with new technologies. Cut your travel. Ditch your PABX system if you are a small company. Check out the web hosted alternatives.
Teleconferencing via Skype and Zoom is free and enables us to work with people all over the world and develop good relationships. As does file sharing on the Cloud. Many of us no longer need to run big offices. Home working will only become more and more accessible and save costs. These technologies open up a skill base beyond geography. They also challenge us to run teams in more creative and interactive ways. Embrace change. It is coming whether we like it or not. Best to get ready and respond dynamically.
For 2018, I would like to offer my favorite advice for any founder. I am often being asked, “What is the most important virtue that a founder needs to have?”
In my opinion, a founder should be able to form high trust relationships within a short time frame. At the end of the day, the key point of every startup is its team which enables everything else (idea, business plan, execution, etc.). Therefore, forming a strong team fast will result in better chances for success.
Entrepreneurship before the 21st century made use of humankind and our planet out of self interest. 21st century entrepreneurship serves humankind and our planet for quality of life in a measurable way. It is not confined to business processes of “trade only” anymore. It involves all stakeholders within a community, which makes us all entrepreneurial partners for sustainable regional human evolution and resilience.
In addition, I can share the 4x Profit entrepreneurial framework for the 21st century. Profit being synonymous for benefit or value:
Profit for us human beings in terms of health, safety, well-being and other core natural values for quality of life.
Profit for society in terms of resilience, social engagement, employment, social innovation, etc.
Profit for the environment in terms of a positive footprint, no pollution, circular economy, etc.
Profit in economic sense for continuity rather than growth.
Think about how you can make a positive contribution to the world. The world faces a lot of challenges in 2018 and beyond, but for entrepreneurs, it provides a host of fantastic opportunities to turn those challenges into positive outcomes. Believe in your ability, ask many people for their help and set your mind on a purpose. When entrepreneurs have a purpose, there is no need to chase the money, it has a funny way of following you!
Regardless of the changes and disruption around us as entrepreneurs, the number one thing we need to look after is cash. Cash flowing into the business and cash flowing out of the business. While it seems boring, or just embarrassed to talk about, if we do business with somebody, both sides have to understand their commercial position.
Concentrate on one solution and do it well.
Spend enough time and resource on the first step of your journey and make the rest of it much easier.
What is this FIRST STEP? Find a real pain/need, THEN make former solution better or create a better one. Never go vice versa!
Keep your cool while hustling hard. Stay focused but prepare to fast fail forward.
My advice to aspiring entrepreneurs in 2018 is to be bold. Boldness requires courage and a willingness to be daring but with practice, it also becomes habit. That first decision to be bold might be scary as hell but each bold choice you make will eventually get easier. Being bold leads to taking positive risks, trying new things and pioneering a new path and not following the pack. But being bold does require you to back yourself. So how will you back yourself in 2018?
Something I have been embracing recently is stepping out of my comfort zone. I encourage all entrepreneurs to do the same either at work or at home. Take risks, try something new as the comfort zone is the greatest adversary to innovation.
Know what problem you are solving.
Tell the story of how you will solve it.
Describe the benefits of solving the problem – individuals, companies, communities.
Understand what help you need to be successful and ASK for it.
Never, ever give up.
Be organized as it will allow you to save time and effort when juggling many simultaneous tasks. Set smaller goals that help you track progress toward bigger goals. Do not rush decisions to make the best decisions. Ask questions and actively listen to people so as not to miss important insights. Make positive affirmations and focus on the silver lining that helps deal with everyday challenges. Dream big to keep being creative and have something to look forward to.
Well as we all know, the only thing constant in life is change but in real life, some things change (disruption) and others don’t. For example, commitment is a key to success. This is not changing. You will need to be 100% clear with your idea and commitment. Focus on your goals, adapt to the current level of environmental disruption in your specific field/industry. For example, I believe 2018 will be big for Solar, Electric, Privacy. Also, many/most fundamental things of our lives will begin to change with the new idea of blockchain technology. 2018 could be interesting depending on how fast the change can happen.
Have a resourceful, “can do” attitude and keep a passionate inner drive. Take initiative and make things happen. Use your talents to construct a better world for everyone in your lives.
For 2018, I would suggest entrepreneurs to focus on being flexible in their mentality, and be creative. With the world of business getting more and more crowded with people having similar ideas, it is important to find your own twist in solving the pain points end users or customers will have in their journey, and separate you from the competition. And above all, enjoy what you are doing.
Be passionate, courageous, and unique. Figure out how to stand out from the rest of the crowd. If you’re afraid, let that fear inspire you and fuel your drive. Always nurture your creative thinking. Collaborate and learn from others. Don’t be afraid to ask for advice, but don’t let others dissuade you from following your dream and from doing things the way you see fit. After all, only you know for sure exactly what you’re aiming for and what path is the right one for you.
First thing you already have it: courage. Next thing: never stop learning. Last thing: perseverance, perseverance, perseverance, Never give up!!
We are all living in a constantly changing environment. Both internal as well as external factors are rapidly (or more precisely unpredictably) changing.
Technology is changing rapidly. Disruptive innovation is the norm and order of the day. Keeping abreast with what is happening externally creates a “need” for every entrepreneur to introspect a lot and make internal changes strategically to survive and that is not easy.
So how to stay focused? How to perform under pressure? I would say that harnessing the power of “P-P-C” is most likely to help you all and will do the trick. This could be the best mantra to succeed while under pressure. So Stay Positive (P), Stay in the Present (P) and Stay in Control(C).
P-P-C is also about changing the mindset positively by focusing, relaxing and enjoying while we visualize the goal and get immersed in the process. Seeing pressure as a threat undermines self confidence and when you think otherwise, you are stimulated to give the attention and energy needed to make the best effort.
Here is wishing you all A Very Happy New Year. I would like to share this apt quote for those aspiring young entrepreneurs who would like to make it big in the year 2018, “Get tough: don’t work under pressure; work over pressure.”
Inspired yet? How do you find the list? What advice best suits you? At the end of the day, it’s going to be how you take these advice that will determine how you will succeed in your career. THIS is not just about reading a list. It’s about taking the time to reflect, plan, and implement. So are you ready to rock 2018?