7 Great Ways to Stay Motivated as an Entrepreneur

7 Great Ways to Stay Motivated as an Entrepreneur

Allsquare discuss great ways to stay motivated in the business role of entrepreneur

When making the leap from employee to entrepreneur, an immediate challenge is the absence of an authority figure to set goals and deadlines and provide incentives. Inspiration and motivation become the sole responsibility of the entrepreneur. Whilst for many this is one of the primary reasons that they chose to start their own business, it can still be a challenge, especially once the initial thrill of launching your own business subsides and all that is left is the daily grind in order to make your company successful.

What is needed is to stay motivated by reminding yourself why you took this step in the first place. Try out these tips to stay creative and you’ll see an impact not only on your state of mind, but also on the success of your business in the long run.

1. Create a Personal Vision Statement

Large corporations use mission statements to describe the business’s culture, goals and values in order to direct the company and, more importantly, to motivate stakeholders to act in ways that fulfil all of these. Every entrepreneur could benefit from creating their own personal vision statement for these exact reasons.

2. Build on Your Vision with a Plan

Now that you’ve outlined what you stand for and where you want to go, you need a plan covering both the personal and professional aspects of your life (indeed, for entrepreneurs the two often overlap). This plan should include goals for the short, medium and long term, along with regular ‘checkpoints’ to ensure that you are on target.

3. Remember to Look After Yourself

It may feel like your business must become your life in order to be successful, but this approach often harms productivity. Without proper rest, relaxation and self-care, you’ll feel rundown and your business will suffer. Set aside some time every day to walk, meditate or do some exercise. By taking time away from the desk, you’ll find yourself all the more focused when you return.

4. Incentivise and Reward Yourself

Humans are hard-wired to respond to threats and incentives. You can’t (and shouldn’t) threaten yourself, but you can incentivise yourself. Think back to being an employee – not only are large, long-term achievements rewarded, but so too are small victories. Even maintaining a new habit is worthy of a reward – so treat yourself.

5. Seek New Inspiration

If you feel yourself hitting a wall, don’t be afraid to look for new ideas outside your normal purview. The internet is full of inspiring content – try watching a TED talk over lunch, finding an inspirational podcast or reading about something entirely new that interests you.

6. Get Feedback

Customer feedback is essential to improve your operations, but it can also provide a welcome and even surprising confirmation from satisfied customers that you’ve been doing the right thing so far. Set up easy-to-use feedback channels such as social media to hear what your customers have to say.

7. Good-Quality Sleep

The value of a good night’s sleep can’t be overstated. Regularly not getting enough sleep leads to a mental state similar to alcohol intoxication, affecting everything from motivation to decision-making skills. Facing the tasks of the day with a good night of rest behind you puts you on a strong footing to achieve your goals.

Allsquare are professional accountants in Edinburgh offering financial and business services to help small to medium companies with business growth strategies. For more information, call Allsquare today on 0131 343 1510.