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5 Traits of Successful Entrepreneurs

It’s all about mindset. I’ll share five mindset traits that will help you move forward with your side business be successful. You’ll come to find that many entrepreneurs possess the same characteristics.

Trait #1: Self-confidence

When I decided to transition to business coaching while working full-time and raising a family, I asked myself how much do I want to commit to my side business so I can continue taking care of my responsibilities and keep motivated.

It was a rough ride at the beginning, trying to do it all. I used to think that it was impossible and I had no idea how others were doing it. But, as time went on, I managed to make it happen because I gained self-confidence and believed that it was meant to be.

One of the key factors to accomplishing my goal and kept me going was self-confidence. It’s that magical power of having confidence in oneself and one’s powers and abilities.

Trait #2: Achievement oriented

Focused and sustained effort gains results. It’s about concentrating on achieving a specific goal, not just accomplishing a string of unrelated tasks.

To reduce overwhelm, break down each task into smaller tasks that would be easier to follow through. Every task you perform that relates to your business, regardless of how small, moves you closer to achieving your goals.

Trait #3: Become a risk taker 

You realize that there is a chance of loss inherent in achieving your goals, yet you have the confidence necessary to take calculated risks to achieve your goals.

As a business owner, we’ll make decisions, take action, and can control our destiny. We are motivated by a spirit of independence which leads us to believe that our success depends on our effort and hard work, not luck.

So, which of these three main characteristics (self-confidence, achievement-oriented, becoming a risk-taker) is the most important? Believe it or not, it has to be self-confidence. Without confidence, nothing else is possible. If you don’t believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals. The other characteristics are a few things to keep in mind for maintaining a higher level of self-confidence.

Trait #4: Positive thinking 

Well, it all starts with a positive attitude, doesn’t it? Believing that something good will happen is the first step. Negative thinking simply is not allowed.

You must truly believe that there are no circumstances strong enough to deter you from reaching your goals. Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, and so on.

Trait #5: Persistent Action 

Now all the positive thinking and believing in the world is useless if it is not applied towards a goal. You have to take action, no excuses are allowed. This action must also be persistent. Trying once and then giving up is not going to be enough. Keep at it one step at a time. If you can’t get by a particular task, then find a creative way to try again or just go around it.

We’ve identified five traits that are common among successful entrepreneurs. You should be able to look ahead and see yourself where you want to be. Now just maintain a strong belief in yourself and your skills, stick with it, and don’t give up. If you can do that, you’re already halfway there!

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Work smarter, not harder

When people talk about “working smarter,” it doesn’t necessarily mean to get more done by working longer hours. Rather, you get more done by making the best of that time when you’re engaged in work.

Can you delegate some of your distractions?

Identify the things that distract you and hurt your productivity most. These are your main enemies! Develop special strategies to eliminate or control them.

Are mornings or nights your higher focus time?

Discover your best times of day to focus. Each of us has our natural rhythms. Get in touch with yours and use them to your advantage.

Where is your time going?

Monitor how you spend your time each day. For a week or two, keep a work log or journal. Look back, and you may be surprised to discover how you’re spending your time.

By selecting a variety of techniques, you can immediately start making your work time more efficient and productive. You’ll get work done faster and better, and as a result, you’ll have plenty of time to spend on other things.

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3 Tips for Small Business Growth

Often business owners ask themselves, what small businesses that achieve sustained growth do differently from those that have slower growth? No magic pill, one size fits all, or cookie-cutter system can answer this question. However, here are three areas that growth companies concentrate their efforts to overcome the challenge.

  1. A Strong sense of purpose

Most leaders that have achieved growth discover that it takes more than the promise of increasing financial reward to fuel their aspirations and ambitions. They find a higher calling than simply the pursuit of “more money.”

  1. Outstanding market intelligence

The ability to first recognize, then adapt, to fundamental changes in the marketplace. Many times, small-business owners become too myopic, seeing only a limited view of the markets in where they compete. Growth leaders see the bigger picture.

  1. Active growth planning

The best predictor of whether a business will grow. To be effective, a plan for growth does not need to be overly formal or complicated. However, needs to be written, well-communicated, and regularly updated as the need for the business changes.

The key to growth is to build a strong foundation; know your sense of purpose, explore your market thoroughly, and plan on staying ahead of the game.

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5 Steps to Successful Goal Setting

Goal setting is the secret to a successful personal and business life. Although setting a goal may seem simple, achieving it is a whole different story.

Your chances of achieving your goals will be non-existent unless you know what you want, are passionate about it, and a have a solid, realistic action plan; this is the difference between dreams and wishes – and indeed achievable goals!

When you’re going after a goal, you’ll come across many bumps on the road. Here are five methods that will help achieve the success you deserve.

1. Know what you want
Discover your exact goal and write it down, so it seems more real. What will be achieving that goal look like to you? Be as specific as possible about your desired result. Your success will be a measure of your clarity – since you cannot create an achievable goal plan around a foggy “dream.”

2. Be willing to adjust your lifestyle
Success takes dedicated planning and effort. Creating more success in your business may mean less recreational time. However, once you have created a plan, you’ll be able to balance your life and work along with your business. The better the plan, the closer you move towards your goal. There’s always time for everything you want to accomplish!

3. Get passionate
One of the most powerful tools in your “success toolbox” is having passion. The intense, passionate desire for your goal will help in creating the new pathway to your goal even faster. Passion will help you rapidly override any inappropriate old “failure messages” stored in your subconscious mind.

4. Focus on your goal every day
A clear mental and daily focus are important and necessary to create a new pathway towards your new goal. Daily focus will prevent the old mental habits that have kept you from your goal to take over. Don’t let your goal take a back seat to the daily tasks and distractions; life WILL try to get in your way. Focus on what you DO want and the big picture!

5. Create an action plan and follow through

Successful goal achievement is built by taking one small action at a time. The word is ACTION! If you commit to taking at least one small action each day, your actions WILL add up and make a difference.

You CAN create whatever you want in life. The secret is to determine exactly what you want, then pursue it passionately. But remember — in the end, only action counts! You can’t just dream about it, you must DO IT!

Download your 30-Day Action Planner here to get started!

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