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Five Ways You Can Thrive as an Entrepreneur

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Five Ways You Can Thrive as an Entrepreneur

May 15, 2019
Last Updated: Oct. 24, 2024 @ 3:02 AM

Five Ways You Can Thrive as an Entrepreneur

Five Ways You Can Thrive as an Entrepreneur

Some of the best innovations in the world—from the first photo of a black hole to a foldable touchscreen phone—started out as an idea that someone just decided to pursue.

For entrepreneurs, the challenge is deciding which ideas are actually worth pursuing. Even seasoned entrepreneurs fail, but the best ones never let failure stop them. So what does it take to survive and thrive as an entrepreneur today?

Be curious and inquisitive.

Curiosity—as said by Sir Ken Robinson—is the “engine of achievement.”

Sadly, we don’t all get to keep being curious. We become too busy, too distracted, too tired, etc. We often lose our way and we become desperate to look for it again. But as an entrepreneur, it’s important to keep your curiosity alive.

Entrepreneurs foster curiosity and inquisitiveness both in themselves and in the people they work with. You want to get to the point where you’re looking forward to learning new things and you’re open to every possibility.

You can start small; improve your curiosity by practicing new habits like asking more questions or learning new skills. Instead of listening to respond, try listening to understand. Take baby steps out of your comfort zone. Expand your worldview by looking at things from a different perspective.

Fuel your passion with motivation and dedication.

You might find that investing time and effort into making something great is easier said than done. Passion will get you started, but it’s motivation and dedication that will keep you going.

As an entrepreneur, you’re familiar with the importance of strategic planning—the most crucial step before pursuing any project is knowing what you’re actually doing it for. That’s why all businesses have a mission-vision statement.

Once your business plan is set up, all you have to do is follow through. Challenges and hurdles are inevitable, so make sure to prepare a Plan B (and until Z, if you like). You’re completely free to make improvements to your plan as you go along.

Build for the greater good.

“A product developed strictly for your own needs would be classed more like a hobby; however, a product developed for the market must be designed to satisfy evolving market needs.” (British Library)

Does your project serve the greater good? What is its purpose? How can it make the world a better place?

Think beyond your product. Collaborate with other businesses that support the same causes that you do. Create partnerships with other brands that have a positive impact on society and the environment. Give special discounts to your customers when they reuse or recycle instead of using disposable products. Plant trees or host a beach clean-up for your team building exercise.

What you know isn’t the end-all-be-all.

The second of Richard Branson’s top three leadership principles is “learning and leadership go together.” The best decision-makers often take a step back and ask for advice. There’s always going to be another expert that you can consult before you make your final decision.

Aside from experts, you can always ask for an outsider’s opinion. They might see something from an angle you might never have thought to look from. Start by rounding up ideas and suggestions from your team. Encourage them to share during huddles, one-on-one conversations, or anonymously with notes.

“The man who dies rich dies disgraced.”

Andrew Carnegie believed that the man who dies rich dies disgraced. In the early 1900s, he sold Carnegie Steel Company for $480 million which he then used to start his philanthropic enterprise.

So when it comes time for you to retire, we’d encourage dedicating a portion of your earnings to a good cause. You’ll be in good company with your fellow entrepreneurs. Who knows? You might end up supporting the future inventor of the time machine or the creator of the cure for cancer!

There’s no one-size-fits-all strategy to being a successful entrepreneur. It takes a lot of late nights, countless cups of coffee, and immeasurable teamwork to get to the top.

If you’re not sure where to start, inch your way to the summit of success by being curious. Prepare with the right set of (business) plans. Know that you’re allowed to ask questions and make mistakes. Leave the world a bit better than how you found it.