Pursuing entrepreneurship isn’t always easy, but it can be extremely rewarding. If you’re thinking about becoming an entrepreneur or if you’re already on your way, consider following four of Robert’s favorite tips to ensure your success.
Make a timeline
Robert Herjavec once said, “A goal without a timeline is simply a dream.” This quote holds especially true when starting or growing a business. If you find yourself regularly making comments like, “I hope to break even eventually,” or “Someday, I want to hire an assistant,” you’re not doing yourself any favors. Change those statements to, “I hope to break even by May,” and “I want to hire an assistant next month.” Setting goals with a specific timeline holds you accountable and puts you on the path to success. Remember what Robert says: “’Someday’ isn’t a real day like Monday or Tuesday; it’s just another word for ‘never’.”
Surround yourself with like-minded people and support
It’s often said that a person becomes the average of the five people they spend the most time with. If this is true, why would you remain close with people who don’t support your dreams of becoming an entrepreneur? Or people who don’t have any goals or ambition of their own? Human beings are like sponges – we absorb what we’re surrounded by. Therefore, if you want to be successful, you need to surround yourself with hardworking, driven, and supportive people. “Enthusiasm is contagious,” says Robert. Find other entrepreneurs who have been in your shoes before. Surround yourself with hard workers who have motivated themselves and will help you stay motivated, too. Make friends you can learn from and who will guide you in the right direction. Their support will be invaluable.
Don’t be afraid to take risks
Whether big or small, taking risks can be nerve-racking. However, you need to remind yourself that no successful entrepreneur ever made it big by playing it safe 100% of the time. “The more you avoid risk, the less likely it is that you’ll achieve all that is possible within your own capabilities,” says Robert. It’s clear that taking risks is an inevitable part of being a successful entrepreneur, but if you’re still feeling uneasy, try to run a test before committing fully, or ask a more experienced entrepreneur for their input and advice.
Don’t go spend crazy
If your business is going well, it can be tempting to splurge and reward yourself. After all, who wouldn’t want a nice vacation or new car after months of working around the clock? However, if you want to be a successful entrepreneur, you need to learn to resist the urge to spend, especially in the beginning. “Be extravagant with your dreams, but practical with your expenses,” says Robert. Wait a couple of years before you start spending your profit on luxuries. You’ll thank yourself later.