How Self Motivation Helps in Every Step of Business?

There are many challenges faced by top startups in India in the transition – from an employee to a corporate leader or entrepreneur of own business. In addition, they no longer have a team over them to set targets, deadlines, and incentives. Only self-motivation keeps you sailing through the tides. That is my personal experience.

As a beginner, I was exposed to a host of challenges as the definition of responsibility changed. The experience was new and I was consumed with a lot of work. However, maintaining self-discipline was my aim. Had I not been able to do it, my personal development, as well as family life, would have been haywire by now.

So, how did I manage to focus on my business while being motivated to becoming a business leader and a better person? It’s simple – I gave myself some time, I was dedicated to my role as an entrepreneur, and I practiced.

The true qualities of an entrepreneur are focus and perseverance. There are obstacles; there would be many hiccups and de-motivating factors. But, the key is to stick through thick and thin.

There’s nothing as sheer luck or genius. There are no secrets to doing good business.

The answer lies in self motivation.

Psychology Today defines motivation as a “desire to do something.”

The Oxford Dictionary describes motivation as ‘the reason or reasons for acting or behaving in a particular way.’ Whereas, self motivation is an internal feeling arising out of the desire to fulfill or satisfy specific needs.

According to the words of Tony Robbins, “The one common denominator of all successful people is the hunger to push through their fears.” That is how self motivation helps. When there’s enough hunger, you would be eager to learn ways to motivate and meet those goals. That’s what I did!

The Psychology of Self Motivation

But, why do people lack motivation? It is because of the psychological barriers.

Firstly, you must know what you want.

Are you trying to find out how to become a successful startup? Don’t you know how to begin this journey? Why do you want to do this business? Why do you want to succeed?

If you find answers, you can start reflecting on them and find meanings.

I learned that there’s a fine balance between success and failure. Neither is possible without the other. If you can accept this reality, success shall be yours in no time.

Self Motivation & Emotional Intelligence – The Interlink

There’s a strong connection between emotional intelligence and self motivation. When you learn how self motivation helps you to take control of various aspects of life, you would be amazed!

Motivation is an important personal skill integral to emotional intelligence.  Daniel Goleman, the author of eminent books on Emotional Intelligence, pointed out four important elements of motivation:

  1. Personal drive/desire to achieve, improve or meet standards
  2. Commitment to personal and/or organizational goals
  3. The initiative, or readiness to act on new opportunities
  4. Optimism, the ability to continue, reach your goals, and face setbacks. Be resilient

Why is Motivation Important in a Business?

Because it gives you direction!

The qualities of an entrepreneur lie in the positivity and values of an individual. To me, self motivation was always important as it helped me understand how to do things. I have taken proactive measures to instill these qualities in my team too. The team that works hard to give life to the startup realizes the importance of mentorship.

Even if you have the blueprint ready and sketches chalked out, you may not be able to yield results. Why so?

That’s because you are not focused.

Two types of motivators play here – Intrinsic (as in what you want to do) and Extrinsic (as in what you “have” to do).

So, when the choice is between what you “want” to do and what you “have” to do, you must be wise enough to follow the right path.

Different people stay motivated by different things at any given time in their life. The same role may have more extrinsic motivators at one point of time and then intrinsic motivators at the others. Then, there may be times when the two combine. They try to find out how many hours to work in a startup and give their best.  

However, the bottom line is that I work better when I am passionate about what I am doing. I enjoy doing it.

It makes me happier about my work and in general too.

Research also shows that this is specifically important when a person is under stress or pressure. It becomes easier to cope up with stress and strenuous hours of work when we enjoy the work, as I do. Hence, intrinsic motivators are important for self-motivation.

How Does Self Motivation Work?

In my words, I would tell you the 7 ways in which self motivation has worked for me:

  • I know what you want: Motivation is a diverse and varied subject; quite complicated too. But it answers the “whys.” Entrepreneurs in India want to know why they are here; what is the purpose of being in this vast marketplace? While there are thousands of researched answers to the question, the fact is that the purpose of entrepreneurship is the fundamental principle of business. So, choose your business goals, define the purpose of your business, chart an action plan, answer the “whys”, and unlock the door of constant self motivation.
  • I know what to do Each Day: Though motivation begins broad, it gets infinitesimally elaborate over time. When you know the purpose of your business, you would know what you are supposed to do daily. That’s the definition of a true entrepreneur. For me, each day begins with a defined set of tasks, objectives and goals. Identifying the obstacles, knowing that they exist, and making efforts to chip them away creates a strong sense of self motivation each day.
  • I Prepare Mentally for Each Day: Top startups in India cannot depend merely on knowledge; there must be a psychological trigger – its preparation. How you prepare depends on your taste. For me, I prefer music as it quickly snaps my mind into a supremely powerful state. I also like to view motivational materials on YouTube. While techniques may vary, the principle remains – mental preparation is the key to dominate during a hard day at work.
  • Self-discipline is not Alone; Plus Willpower: Self-discipline is the key to motivation for doing good business, but not alone. If you do not have the willpower, it does not work. Willpower works like a muscle, which may be fatigued due to overuse. Moreover, self-discipline is limited. It might fail you. However, deep motivation helps you sustain. I’ve used self-discipline as a tool to enhance my efforts, but I never relied completely on it.
  • I Create My Own Rules and Follow: I’ve always been a self-motivated person and the creator of my own business rules. Of course, I have a team that looks up to me and I try to motivate them too. I’ve risen over external pressures to create my own guidebook as an entrepreneur, which is immensely motivating. In fact, it motivates my team too. Invariably, my standards are high, but not very hard to maintain.
  • I Develop Unrealistic Goals: Sometimes, yes, I do. Self-motivated entrepreneurs always push forward using the superpower of their goals. Setting goals is a mental game. The act of creating goals, help drive accomplishment. Meanwhile, others may be laughing at big goals; some even scoffing, but I am achieving them. Elon Musk is one of the eminent entrepreneurs who set insane goals. Business Insider wrote, “Elon Musk sets nearly impossible goals for SpaceX employees.” But, it also said that “Space X has a seemingly impossible objective-the ultimate goal of enabling people to live on other planets.”
  • Never Lose Sight of Your Goal: I have not, and so should you! When you set a goal, remember never to lose sight or focus. Your business goals should be in your mind at all times. In fact, it should be at the forefront of the mind so that you never lose motivation.

Conclusion

What makes entrepreneurs successful? Self-motivation is the key underlying forces, which distinguishes between successful entrepreneurs and the ones who stagger from one dying startup company to another.

Understand that self motivation despises several inconsequential elements like luck. It also dismisses self-discipline to a certain extent. However, it sets eyes on the power of your business goals and never allows you to lose sight or miss a single opportunity.

Entrepreneurship is a vast world. It is a world of motivation for entrepreneurs who are in the pursuit to win. They draw motivation from events, progress, actions, and course, which facilitates in bringing a brimming idea to life. The actual difference between a successful entrepreneur and the rest is in their innate ability to stay motivated throughout tough times and otherwise. There are many tips for budding entrepreneurs to succeed. They must trust themselves and stay motivated to succeed in each stage of business, and life.

How to Choose the Right Partner for Your Business

How to Choose the Right Partner for Your Business

So, you have finally established your dream venture. Congratulations! You have a game plan that offers the exposure you require. Your primary aim as a business owner is to generate profit. Right? Passionate entrepreneurs like me, find it challenging to share business control. However, correct assistance from a partner can enhance the business.

Over the years, I worked with good as well as bad business partners. I was young and lacked the expertise to select skilled business partners. With time, I mastered the art of how to choose the best business partner. I can share some great tips, which may assist you to get a good partner. A competent business associate can add value to the venture and reduce the financial burdens.

Is the Individual Dependable?

Most young entrepreneurs ask me how to select right business partner. I believe no company can succeed without trust among the associates. The two partners must cooperate and be on the same page. You must check whether you can depend on the individual with crucial tasks. A dependable associate can understand your ambition and passion.

He/she can provide new and innovative ideas. You can ask the associate to take care of a certain business-related task. His/her prompt and dedicated actions can shed light on the trust aspect. If you are happy with the effort that the associate puts in, then make an official agreement. The best business expertsopine that lack of trust between partners pave the path for 85% of ventures’ downfall.

Is the Individual Responsible?

If you want to expand your venture, then work with a responsible associate. I think that two responsible individuals can form best business partnerships. They complement and challenge each other. It drives them to work harder. It, in turn, generates more revenue for your business. A responsible business associate can share the work load.

Financial Contribution

how to select right business partner

I think that business partners must contribute money for business development. It is best to join hands with an associate who has access to cash. Financial soundness is essential criteria for choosing business partners. Partners need to pool in their monetary resources when it becomes necessary. You cannot run a business without economic backup. It is here that you require a partner.

Develop a Friendship

Like me, the best business experts believe that friendship can foster a stronger bond between the business associates. Develop a relation that transcends profit sharing. You need to invest time to create a personal link with your partner.

best business partnerships

A personal bond solidifies your business association. The partners of top startups in India are good friends in the personal circuits. A business partner tries to safeguard his/her investment. But a friend can point you in the right direction.

Urge to Sign a Contract

Apart from these characteristics of good business partners, I can shed light on another essential aspect. Once you finalise your business partner, you must prepare a legal agreement. It highlights the partnership details. The document also tests whether you are compatible with one another.

A proficient associate takes an interest in the contract draft. He/she can make some alterations. Eagerness to sign a business contract is a positive sign. I hope you can get an idea about how to find the right business partner once you read my blog. Do you desire to expand your business? Do you want to partner up with like-minded individuals? It is the right time to contact the specialists, associated with Evolvers. You can acquire business contacts and form business partnerships. The agency experts can take the necessary steps to raise funds for your venture.

Author
Sandeep Sagar

Why Is Networking Important for New Entrepreneurs

Why Is Networking Important for New Entrepreneurs?

Seasoned business-owners opine that it is rather challenging to start and run a business. You need more than a unique and bankable idea that can generate profit. You require sound business plans and capital to initiate the venture. Most young entrepreneurs overlook the importance of networking. If you lack a practical business network, you can never prosper in this competitive field. You need a comprehensive knowledge of business networking.

What Do You Mean By Business Network

If a have a creative mind and do not shy away from risks, then you can become a successful entrepreneur. Such people feel trapped in a 9 to 5 job sector. If you run your venture, then you have control over each aspect. But being successful as a start-up is not easy. You must understand the ups and downs of the commercial sector. Novice business owners must consult with established experts to gather information.

These business advisors highlight that if you have a profitable idea and business plan, you must develop a network. To create a business network, you require the assistance of other parties. They may be the investors, other business owners or your patrons. You must gain the confidence of the other parties. Then encourage them to become a part of a profitable arrangement.

The official agreement paves the path for business growth. The agreement also provides ample opportunities for financial gain for the participants. Business networking enables you to get in touch with interested candidates. You can share your venture idea with them. The entire process allows you to convert probable clients into loyal customers. So, top start-ups in India hire professionals to expand their commercial network.

Is Networking In Business Easy?

Many individuals think that it is easy to run a business if you have the basic idea and capital. It is far from the truth. Business plans and investment capital become useless if you cannot utilize these with competence. Most successful start-ups in India opt for the guidelines of a business advisor. These experts have access to investors. They can also initiate fundraiser campaigns.

They can charge a certain sum for these services. These business advisors can help you with how to build your network. A novice cannot accomplish it without the necessary expertise. You must spend sufficient time in this arena to learn the skills. Once you acquire the aptitude, you can run your business networking campaign without additional assistance. 

Perks of Networking in Business

Once you understand the meaning and purpose of business networking, you need to know its advantages. A sound commercial network for your venture can pave the path for its success. You must plan the activities with caution. Here are some benefits of networking in business.

Acquire New Contacts

The primary purpose of networking is to get in touch with other people in the trade and commerce field. These people may help to develop your venture. Established and start-up company owners must pay attention to networking. It provides them with potential contacts. Proper networking paves the path for the global reach of your business. It ensures better sales and higher revenue generation.

Access to Referrals

Reach is significant for the success of your venture. Networking opens several avenues to acquire leads. Apart from direct contacts, you can also get referral leads. It increases the chances of lead conversion. The referral contacts provide proper opportunities for business expansion. 

Arrange Funds for Business

You cannot predict when you may need funds for your business. Experts suggest that business owners must form strong ties with investors. This advice for entrepreneurs can save the company during the financial crisis. Business networking is the best way to gather investor’s details. You must get as many investors as possible on your side.

what is networking in entrepreneurship

If you need money, the stockholders can pool in resources. They can also organise a fundraiser. You can utilise the cash to expand your business. When you generate profit, you can pay the shareholder a certain percentage. 

Makes the Brand Visible

Young business owners worry about the proper representation of the brand. If you desire to increase brand exposure, then business networking comes in handy. Positive image creation and more extensive brand exposure are essential advantages of networking. People want to associate with good brands. Sound business networking efforts shed light on the ethical aspects of your venture.

Get Good Partners

Once you cement your position in the business arena, it is time for diversification. You can merge with other organisations or invest in other companies. Such investments offer higher returns. You can also start a new venture with another partner. Business networking gives information about feasible options. 

Create a Brand Identity

You must keep a close watch on your rivals. Alert business owners are aware of the rivals’ activities. If you want to stay ahead of your competitors, then invest time in networking. Proper contacts can inform you about your opponent’s plans and policies. Understand what is networking in entrepreneurship for proper competition management and branding.

Stay Up-To-Date

Information is the greatest resource in the business sector. You must know the present condition of the trade and commerce fields. Be aware of the business policies that the government launches. Well-established company owners rub shoulders with high placed business officials. It is a business networking tactic. Adequate networking strategies can create favourable opportunities for your venture’s development. 

Share Knowledge

top start-ups in India

Young business owners gather knowledge from books. You require practical in-sight to tackle various issues. No manual can teach you these tips and tricks expect the seasoned players. Business networking comes in handy in such cases. People in your network share their problems and how they overcome them. It becomes a common ground to gain and disseminate information. Young entrepreneurs can utilise this knowledge to prevent financial losses. 

Solve Business-Relates Issues

A novice start-up owner may lack information about all things that entrepreneurs need to know. Young business owners do not possess the potential to prevent mishaps. If you have access to the right people, they can give practical solutions. So, work on your business networking skills. You never know when you may require someone’s assistance. 

Gain Experience

Owners of the most successful start-ups in Indiastress the importance of a strong business network. They opine that beginners can gather adequate experience if they connect with others. Investors and clients can provide potential business development inputs. The young venture owner must assess the potential of these inputs. If you implement these in a flawless manner, then it can help in business expansion.

Boosts Confidence

Most successful start-ups in India

If you talk to seasoned business owners, you can realise that they possess immense confidence. They plan their activities in advance. It gives them time to access the risks, and they can take necessary measures. If you are a young entrepreneur, you must associate with such people. These associations can increase your confidence. Follow their footsteps, and you can become successful in your venture with proper networking.  

Tips To Build Robust Business Connections

You cannot create an impressive business network within a few months. It takes significant time as people want to join with successful ventures. You must prove the worth of your company before you gain contacts. Some companies offer special services for start-up companies. These agencies gather clients’, investors’, and advisors’ details. They create your portfolio and send it to suitable people.

Personal Contact Goes a Long Way

how to build your network

Young business owners depend on virtual platforms to gain the necessary leads. Experts point out that one-to-one personal association is ideal for business networking. Probable investors and partners can assess your potential from the body language and attitude. You also get the opportunity to identify a contact that matches your profile. When you get in touch with people in person, you can gain their trust without much hassle.

Pick Business Groups with Caution

Your association with the contacts says a lot about you and your brand. If you associate with the wrong business group, it can mar the potential of your business. You must join business groups, which benefit your company. You must start with local groups and then proceed with caution.

Use the Social Media Channels

Digital marketing strategies provide more reach and lead. It also allows you to connect with like-minded people. You can carry on business networking via social media channels. These platforms offer a more extensive reach within less time.

Travel for Networking

how to build your network

If you have a small company, then you need to travel for business and networking. Traveling to new places allows you to assess the market potential in those areas. You can also meet with local investors and distributors. They can popularise your product and create its demand. It will enhance your sales and profit. So, keep a travel bag packed at all times. Do you want to start a business? Do you require proper business guidance or investors? Do you want to form a new company with a partner? For these and any business-related requirements, you can contact the experts of Evolvers. The specialists of this agency can empower you with pertinent information. The advisors can guide you to evolve as per the requirements of the current market. 

Author :- Sandeep Sagar