The #1 Indicator of Entrepreneurial Success


What is the #1 indicator on whether or not I will succeed in MY business?

What is the #1 thing I can do to dramatically increase the likelihood that I will achieve MY dream?

Both are great questions that business owners large and small ask themselves every day.  Or, more accurately, ask themselves every NIGHT when they are trying to fall asleep and the doubt-demons come to play.

The answer to both questions is the same:  YOU!  More specifically, it is your psychology.  Your business idea, positioning, funding, plans and processes, while ALL important, pale in comparison to whether or not you are mentally prepared.

Let’s unpack that:

  1. Do you know what your goals for this business are?  I’m not asking if you’ve day-dreamed about digging your toes in the sand with an icy drink in your hand while a voiceover of telling your boss to takStaringatseae a hike plays in loop in your mind’s eye.  I’m asking if you have a detailed, well thought out series of escalating goals that will take you to your destination (we’ll be talking about this in detail -both the “How” AND the “Why”– in upcoming posts!)? Example:  I LOVE my job.  I LOVE being the Principal Consultant at Menemsha Group.  I have *NO* desire to leave that.  This site, and all that it entails, is a “side-gig.”  It’s purpose is to bring the same level of business strategy, sales training, and consulting that I offer larger companies to individual entrepreneurs and small businesses BUT it isn’t meant to supplant my “day-job.”  So, for me, my goal is to grow an audience and serve that audience but not to make commitments that would negatively impact my job.  This will be different for everyone.  Do you know your goals?  What is your end-game?
  2. Do you know what your mental and emotional limitations are?  Zig Ziglar called it, “Stinkin’ Thinkin’,” Ramit Sehti calls it, “Limiting Scripts,” and Tony Robbins calls it, “Limiting Beliefs.”  Whatever YOU call it (or them!), have you figured out what yours are?  You have them.  I promise you.  The key isn’t pretending you don’t, the key is taking the time and self reflection to figure out what they are and spend some time working through them.
  3. Who do you turn to?  Everyone has a moment when they need to vent, get support, ask why they are putting themselves through this, or find an answer to a burning question.  Who do you turn to when you are in that place?  The answer to that question can be the answer to whether or not you are standing on granite or quick-sand.  Make sure you develop a support network.  In today’s connected age that is much easier to do than it was even 3-5 years ago.  Find a master-mind group, a LinkedIn user-group, a friend who is trying something similar who you can talk to.  Don’t misunderstand: You are the Captain of your ship, the master of your destiny and, ultimately, the direction you take and the decisions you make are all yours, but it is very (EXCRUTIATINGLY!) easy to get “trapped in your own head” if you don’t get some perspective from other people.


Tip:  Don’t forget to FEED THE BEAST!  Books, blogs, YouTube videos (there are some amazing YouTube channels!), Podcasts, websites, etc.  Always learn.  Always grow.  If you aren’t gathering and applying knowledge you are falling behind your competitors and you are decreasing your chances to succeed.  The best are students of their game.

Bonus Tip:  Garbage in / Garbage out.  Start your day strong.  Do something that motivates or inspires you.  It is MUCH easier to have a good mindset and a positive view if you fill your head and your time with things that lift you up.  Whether that is music so loud that the neighbors have the police on speed dial, an early morning run (Not my thing!), some special time with a special someone, or WHATEVER IT IS THAT WORKS FOR YOU, do it.  Make the time.  It will charge the batteries that you will need to get past the hurdles that you haven’t yet seen.

This is a big topic, and one we’ll talk about as the blog evolves.  Their are 3 components to your success in this:

  1. You
  2. Customer/Audience
  3. Product/Service

No sane, PASSIONATE Entrepreneur neglects #2 or #3, but it is shocking how many forget #1…

Enough from me!  What do YOU do to guard, grow, and nurture yourself so that you can have the life you deserve?

Please share in the comments below!

As always, thank you for reading and please join us!  I share things with my Email Subscribers (it’s FREE!) that I don’t share elsewhere.



Copyright © 2016, Influence Understood is a trademark of Applied Knowledge Enterprises LLC


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