Advice for young entrepreneurs: How to develop a business mindset
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Posted: Wed 26th Oct 2022
To grow a business successfully, you need the proper mindset. Getting a business to where you want it to be means facing down countless challenges. As a result, it's crucial that you keep your resilience topped up and look after your wellbeing as you progress along your business journey.
At Enterprise Nation, we're here to support you as much as we can. Our Next Generation hub provides a range of resources designed purposely to help young entrepreneurs to take care of their wellbeing and build the mindset needed for success.
It's tailored for young people who might not have easy access to the finance and opportunities needed to go into business for themselves. Here are some top tips to get started.
Overcome overwhelm
When starting or growing a business, it's very easy to become overwhelmed as your responsibilities grow. This overwhelm can manifest as anxiety, procrastination or tiredness. You might not be exercising enough and feel like you want to give up.
To help you overcome overwhelm on your business journey, take these steps:
Determine your priorities
Identify and write down all the key and urgent tasks you need to do. For example, do you have a deadline looming? These are the responsibilities you should take care of first of all.
Take a break
Allow yourself some time to re-energise and disconnect from your duties and work. Whether it's a short 20 minutes or a whole week, it's vital that you step away and attend to your own self-care.
Set your goals
Write down as many ideas as possible – remember, no idea is too small! Then get specific, focusing on what you can control.
Measure your progress rather than focusing on just the end goal. For example, you might write "I will post three times a day on Instagram". Break down your goals into simple, manageable steps.
Implement boundaries
Setting boundaries is a personal choice, and you should base it on what you feel works best for you. However, an example of a boundary might be deciding not to check or answer emails outside of working hours.
It's really easy to get overwhelmed if you have a number of projects on the go. Consequently, setting boundaries is essential. You must learn when to say no!
Be resilient to change
Developing a growth mindset means understanding how to stay resilient, even when you might not feel particularly strong. Learn how to have a robust plan so you're well prepared for change.
Watch this webinar to learn how to balance work and life in a way that sounds true to you, avoiding burnout yet smashing your goals:
Look after your wellbeing as your business grows
It's easy to struggle when you're working constantly on your business, especially if you're self-employed or a solo entrepreneur. The pressure can build and build, to the point where things start to become unmanageable
Here are some tips for how to stay healthy and in the right frame of mind:
Find what brings you joy
Working on a business means doing lots of different roles, some of which you might not be fully equipped to undertake. The key is to hone in on the things that bring you happiness, and make them a fundamental part of your everyday life.
Recognise that not everything will go to plan
No business owner has gone through life without encountering challenges and problems. It's part of the journey. So consider laying out a contingency plan, where you write down everything that could go wrong in your business. Next to each point, detail what action you can take to deal with the potential issue if it does arise.
To support with this, why not think about joining a networking group or attending a local meet-up event. There, you'll be able to hear about other business founders' journeys and how they've managed to overcome the challenges they've experienced themselves. It's always useful to know you're not alone.
Don't compare yourself to other businesses
It's really easy to look at other businesses – particularly ones that are having success – and make comparisons with your own situation.
But rather than do this, take a step back for a second and remind yourself that your business, and your purpose, is unique. All businesses are different and your entrepreneurial journey will be full of ups and downs personal to you.
Watch this webinar to learn useful tips for how to stay grounded and mentally strong when running your business venture:
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