How do you motivate yourself as an entrepreneur?
I spent most of my career in the corporate world going into an office with fixed hours. I am finding it challenging motivating myself without that structure. What are some ways others have created structure and found motivation as an entrepreneur?
The easiest way for me, personally, is to see positive outcome from everything I do fast. "Fast" is the key word here.
If I work on a project that takes, say, 1 year to complete (close a large corporate deal, for example), I break it into smaller manageable chunks and define an achievable short to mid-term goal. Ie. "Get a meeting with CMO / 100 interactions with CMO office" and work towards that. By constantly getting these small achievement and celebrating them (!) I can always look at any month of my work with a lot of satisfaction and always look for the month to come. Without this small tactic, I feel, I would have never grown any business by more than 10% of what I have grown them to so far.
When a Startup entrepreneur or sometimes, a group of Startup entrepreneurs start a business, there are many risks involved. For every step, Startups have to weigh the pros and cons of that step, along with their own strengths and weaknesses.
Sometimes, an entrepreneur has technology but he lacks business acumen or vice versa. Some entrepreneur may have Team Management skills but he lacks finance. Some entrepreneur may have knowledge on the subject matter concerning the business but he needs some other factors and aids to launch his business successfully.
Succumbing to their limitations caused by their weaknesses, entrepreneurs plan their business models, emphasizing on their strengths. Usually the weaknesses of entrepreneurs hurt the profits of business and sometimes, ruin it.
How to overcome the weaknesses that cripple business?
A new business model BOMT (Build Operate Market Transform) has been designed for this purpose only. This business model is Technology Business Accelerator that helps Startups, Independent Service Vendors (ISVs) and Entrepreneurs to overcome their weaknesses and launch their business successfully.
Various business models offer to build a business and make it operational. However, BOMT is different from other business models because not only it establishes a business and makes it operational, but also helps it to enter market, connect with potential target customers and earn Return On Investment (ROI) for the next level of business that would aim at the launch of the more advanced version of the product or service being offered by business.
The Unique Selling Point (USP) of BOMT model is to aid Startups and ISVs’ in reducing their time-to-market. BOMT also creates opportunities for increasing revenue and maximizing ROI at minimum risk. Not only operations and branding, BOMT also helps Startups to find investors and business partners via Partner Product Development.
BOMT offers a progressive launch pad for innovative ideas and enable the products (or services) offered by business to be transformed into viable software products.
Usually, benefits of an investment come at the last stage when a product or service is sold. However, being the unique Technology Business Accelerator that BOMT is, it starts delivering benefits from first stage and those benefits would eventually culminate into high ROI.
BOMT model helps organizations tap into the global resource pool with no upfront investment. It uses a low risk “Build only what you need” model.
Four stages of BOMT
DevOps, a term for a group of concepts that have catalyzed into a movement and are rapidly spreading throughout the technical community comprises of Build and Operate stages of our BOMT model. It takes care of resources, technology, automation, operation support and mobility on demand.
Build stage is about scratching the surface of a business idea and to build a profitable business plan to launch the business. Analysis of business needs, cost involved, strategic requirements, and staffing needs, infrastructure, facilities and team are done. Business analysts plan the infrastructure, resources to be deployed on project, hardware and software needs and other operational requirements of the new project.
For a budding business, BOMT takes care of all operations as well. The Operate stage establishes the operational management services. It includes taking care of SaaS clustering and monitoring the servers 24×7. This stage takes care of process management, performance management, quality assurance, and target achievement. The team of dedicated resources for new set-up is briefed about the entire process. Specific targets are set for project completion.
Marketmate, another group of concepts is comprised of Market and Transform stages of BOMT model. It includes activities like digital marketing, customer contact centre and CRM on demand.
Market stage is the USP of BOMT model. Once a business is operational, it needs to enter market and expand its presence. To overcome this situation, we at Outsourced software product development company Leo TechnoSoft help Startups to enter the market and compete with established brands. Marketing strategy for new business is planned, aiming to make it a brand. This guidance from us, gives Startups, an advantage over competitors. We also help in expansion of the brand through marketing and lead generation. The connections of Leo TechnoSoft in the form of retailers in the market also help the business to enter the market with the Minimum Viability Product (MVP).
After the business becomes a brand comes the Transform stage. A major attraction of BOMT is Partner Product Development as it helps Startups requiring investment to find right business partners whose investment would be good for business. Planning is done for the next level of investment regarding business expansion. Upgrades to MVP with regards to advanced version and new features are also planned. Leo TechnoSoft also helps Startups to find Venture Capitalists and financers who would increase the finances of the business by investing more money in addition to the money being invested by business owners.
-You can ask for help your friends, family, relatives. Engage your friends and colleagues to help motivate you both toward individual and shared goals. I read about mobile apps that can make this engagement fun. With the help of those apps, you can share actions with photos and geolocation, and reminders.
-And sometimes, you simply need to watch inspiration video. TED Talk can help you with that.
-Try to set the plan ahead. Set reminders throughout the day for the important tasks and daily goals you have set.
I hope those tips will be helpful for you.
You left for a reason. There are a lot of list type apps these days (momentum on Chrome is what I use) and you need to develop one that motivates you to work. Creating a schedule is key to that, and whether you are working remotely or for yourself a schedule is going to keep you in a routine. It's a fairly common problem. Give yourself a 6 month challenge. What do you want to achieve (your objective)? What monthly successes will get you there? Block them out by month. Make sure you see them every day. Work the hours that suit you. If you don't like being at your desk at 8, start at 10. If you adjust your schedule like that, make sure you do all your client contact during normal business hours. Find a group or friend who will hold you accountable.
It's harder than it looks. The key is to find what works for you, and then develop that schedule.
I provide my own structure. I have goals for doing work, learning activities, networking activities, marketing and more. To ensure I'm doing something every week in each category I develop my schedule with those activities plugged in, sometimes weeks in advance. I sign up for free webinars regularly, attend professional association meetings, write blog posts, etc. I have a lunch break, break once or twice to make myself coffee during the day, and leave on time. I check my email by phone at night. I'm busy all day so the time flies by. Before I start each day I have coffee and review where I left off the day before, looking what I accomplished and figuring out things I can do differently for better results. This is typically a good brainstorming time for me, because it's before the start of my routine. Once I do that, I hit the ground running right on time. Also -- exercise is a key part of my day; I do it at the same time every day.
Before you begin, stop. Take all the time you need to think through why you want to own, run and start a business. In this, you need to see what the business will be as best you can, and again understand why you are doing this. The more you do this and get to a clear vision for what you want to accomplish, the more motivation you will have. The point is motivation has to come from within. No one else can put it there.
Having clear goals. When you are not sure what to do next or the progress you are making, it is important to go back and review your goals and progress. This will guide you through the bumps in the road.
There are a lot of good answers here, so I shan't aim for a comprehensive 'academic' response (tempted though I am, as I write about productivity and personal effectiveness).
I will say two things, from a very personal perspective:
1. I motivate myself because I love what I do. As an entrepreneur, you need to be chasing a dream you believe in and choosing a career/work that you enjoy.
2. Yet sometimes, that is all bunk. You know you enjoy your life and are chasing a dream, but this next task, or today's early start seem just to unappealing. I recently got asked about how I created the habit of getting up at 5am every day to start work on my current venture. Does it take 14 days, 21, or 35 to create a habit. My answer was simple...
I don't get up every morning at 5am because it's a habit. I wish it were. That would be easy. I do it because it's a discipline. I ceate the routines that will get me what I want and I stick to them through sheer force of will.
I sometimes feel too many people want it easy these days. They want to be motivated. If you want something, that's your motivation. But don't think it will be easy. It often won't. But if your entrepreneurial idea is important enough to you, then knuckle down and JFDI (like JDI but less polite). Discipline and routine aren't motivating, but they get the job done and bring the rewards.
Sorry to say this, but I need to. There's no short cut to hard work.
You can motivate yourself through adopting a positive mindset, nurturing your self-esteem, and building your self-confidence. Self-motivation is an inside job and takes disciple, nobody can do it for you.
1. Have a clear vision of what you want and remind yourself why did you started your business in the first place.
2. Talk to other like minded people
3. Take care of yourself. What inspires you? Do more of what you love.
4. Have fun
5. Work SMART not hard :)