Tips for Staying Motivated When Your Business Hits a Rough Patch
Staying motivated as an employee when things aren’t going well is hard, but being the business owner makes staying motivated even harder. However, getting yourself through the rough patch is crucial in determining whether your company succeeds.
Many people have invaluable talent and skills, but very few of them become successful entrepreneurs. This is because building and sustaining a successful business requires so much more than just talent or skill. And unless you can handle the intangible aspects of entrepreneurship, you won’t succeed.
One of the most significant mental challenges of building and running a successful business is motivation. If you struggle to remain focused during the hard times, it’s essential to get a grip. Here are six tips to help you stay motivated when times get tough:
- Find Your Passion
It’s hard to remain motivated as a business owner if you don’t know your passion. Is your passion to make more money? Everyone wants to be wealthy. What is your true passion? Maybe you want to give your children a better life than what you had, or perhaps you want to travel the world without worrying about the cost.
What do you want to achieve? Motivation without passion is hollow. You may think you’re motivated but if you have no passion, you’re just faking it. Once you discover what you truly want, you won’t have as much trouble staying motivated – even during the hard times.
- Reward Yourself
The reason we all like rewards so much is that rewards stimulate the brain. So make an internal agreement with yourself that if you reach specific targets, you’ll reward yourself with a vacation or something that you’ve always wanted. You’ll be surprised by how hard you work when there’s potential for a reward at the end of it all.
- Break Your Goals into Milestones
If you have a huge goal in your mind, it’ll look like a challenging task. But if you break your goal down into several achievable milestones, it’ll seem easier to accomplish it. And when things get tough, just look at how much progress you’ve made.
Seeing the progress you have made will make you feel accomplished. This’ll motivate you to keep moving forward. Also, you’ll be able to see your next milestone and you’ll take action to reach it. Breaking your goals into milestones encourages you to stay motivated because it becomes easier to make progress.
- Set a Personal Mission Statement
Every business has a mission statement or a set of core values that guides its actions. These help a business find its way during a rough patch. They give direction and motivation; that’s why you need to have a personal mission statement.
Having a personal mission statement is beneficial because it forces you to be honest with yourself and articulate where you want your business to be. Also, it serves as a quick reminder when you lose your way and when everything is going downhill.
A good personal mission statement shouldn’t be longer than two sentences and it should focus on the “why” not the “what.” Here are two examples of personal mission statements from successful business owners and entrepreneurs:
- Oprah Winfrey: “To be a teacher. And to be known for inspiring my students to be more than they thought they could be.”
- Amanda Steinberg: “To use my gifts of intelligence, charisma, and serial optimism to cultivate self-worth and net worth of women around the world.”
- Have Sources of Inspiration
You aren’t the first entrepreneur to have fallen into a business slump, and you won’t be the last. If you are struggling to move forward, then it’s a good idea to get motivation from someone who has been there before.
A business mentor can help you make key decisions and they can keep you remain motivated during the tough times. Look for someone successful in your industry who has achieved what you want to achieve. Ask them if they can mentor you. Tell them about the challenges you’re facing and chances are that they’ll offer valuable insights into how you can turn things around.
Also, sharing your concerns with someone who knows what it’s like to go through a rough patch will make you feel better and it’ll motivate you to do what it takes to move forward.
- Psych Yourself Up
Many of these tips rely on external sources; however, true motivation must come from within. One of the best ways to get motivated is understanding what inspires you and keeps you moving. Things like favorite music, good food, or celebrating success are great a place to start.
Once you find an activity that boosts your motivation, you have found your secret to moving past the rough patch. Indulging in activities that motivate will also boost your entrepreneurial success.