5 Secrets to Successful Entrepreneurship

This may not be for you...

But, if you are... a corporate leader who has decided to transition to entrepreneurship, your journey requires a profound shift in mindset and approach. Based on my 20 years as a corporate leader-turned-businessperson, I have learned more lessons than I can count! Sometimes, I even wonder whether I am paying attention to a lesson, because while I am excited by the journey, I am also lost in its grind!

I share my 5 top secrets that can guide you through this transition, ensuring that you make a significant and purposeful impact.

1. Making Things Happen?

As a corporate leader, I often found myself stuck in the details, managing day-to-day operations. Transitioning to entrepreneurship, I realized the importance of seeing beyond the immediate and envisioning the bigger picture. Successful entrepreneurs are visionaries who spot opportunities where others see obstacles. They balance individual concerns with broader ‘organizational’ goals and – perhaps -- societal impact.

How To Make Things Happen:?

Opportunity Identification: Cultivate the ability to see what others do not. Recognize market gaps, understand emerging trends, and anticipate customer needs. Yes, easier said than done, but that is where the juice is. Listen. Pay attention.

Strategic Thinking: Develop strategies that align with both personal and business objectives. If you are ‘satisfied’ and are not truly hungry to see your unique expression in the world, then your WHY is not strong enough. Do not start a business.

Impact Awareness: Evaluate how your decisions affect people you will work with, your prospects and your circle of influence. Ensure that your business contributes positively to the community and environment.

Manifestation: This is not about “The Secret” – the book that introduced The Law of Attraction to the world. Your alignment to your vision is key: just know that the journey will be full of adventure, excitement and landmines, all at once!

2. Self-Awareness and Intentionality

One of the most significant lessons I learned was the power of self-awareness. Your inner state significantly influences your external actions and decisions. I discovered that starting my day with intention, regardless of how my morning began, made a huge difference. If you bring unresolved personal issues into your professional life, they will manifest and affect your performance. Self-aware leaders know how to transform their internal state to positively impact their external environment.

How To Cultivate Self-Awareness:

Regular Reflection: Set aside time each day for self-reflection. I do this in the evening: journaling can help you understand patterns of your thoughts, emotions, and behaviors.

Mindfulness Practices: I advocate at least two sets of 2-minute silence (with eyes closed) a day. The word ,‘meditation’, is so often used that it makes busy executives and high performers cringe.

Feedback Loops: Seek periodic feedback from someone you trust. Often, I have reached out to my coaches and mentors – at least two. This external perspective can provide valuable insights into your blind spots and areas for improvement.

Intentional Mornings: ?Morning routines are super important. If you instantly look at your phone when you awaken, you have already set yourself to be reactive the rest of the day. I mean this. Start your day instead with some form of gratitude for being alive. Spend some time reflecting on not on all that you must do, or what you lack. Rather, write some notes to yourself, or read something meaningful for 10-20 minutes. Movement, if not hard exercise, is always a good idea. All in all, avoid going near your phone for at least the first 60-90 minutes after you are awake.?

3. Fulfilling Human Aspirations

Entrepreneurship is fundamentally about serving human needs and fulfilling aspirations. Every business, no matter its size, exists to address a specific need or create something new. Understanding that your business is fundamentally about people is key. This perspective drives purpose and resonance with your audience.

How To Serve Human Needs:

?All About the Customer: If you start a business, your customer is the center of your business decisions. You must deeply understand their needs, preferences, and pain points.

Purpose-Driven Mission: Clearly define your business’s mission and ensure it aligns with fulfilling human aspirations. This mission should guide all your strategies and actions.

Innovation: Continuously seek ways to innovate and improve is mission-critical and is not about words. You may say, “I have yet to launch, I have no idea what to innovate yet”. Read the top of the article. This is about developing the right mindset. So, innovation is part of your new mindset. You MUST allow for it, so that you do not lose heart I you first product or service does not become a ready hit with clients.?

Community Engagement: Today is the world of community-building and engagement. Reviews, word of mouth and common missions are driven by communities. Make sure you know to have that as part of your focus.

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4. Inner Joy and Exuberance

True joy and exuberance come from within and significantly enhance your effectiveness as a leader. When you operate from a place of joy, your system functions at its best. This joy is not dependent on external circumstances but is an inner state of being. Entrepreneurs who focus inward, cultivate inner joy, and maintain a positive mindset are better equipped to navigate challenges and inspire their teams.

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How To Cultivate Inner Joy:

Gratitude Practice: Here I go again. Yes, this bears repeating. Regularly practicing gratitude can shift your focus from what's lacking to what you have. This positive mindset can enhance your overall sense of well-being and joy.

Positive Relationships: Surround yourself with positive, supportive people. These relationships can provide emotional support and contribute to your sense of joy.

Personal Growth: Engage in activities that promote personal growth and fulfillment, such as hobbies, learning new skills, or volunteering.

Self-Care: Prioritize self-care to maintain your physical, emotional, and mental well-being. This could include exercise, healthy eating, adequate sleep, and relaxation techniques.

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Motherhood and apple pie? Not much of a secret?

You bet.

Common sense is not commonly practiced.

5. Inclusiveness and Integrity

Inclusiveness is a hallmark of effective leadership. When others feel included and valued, they are more engaged and productive. True leaders make others feel their presence without asserting their authority. They embody integrity and honesty, taking care of themselves first so they can lead others effectively.

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How To Promote Inclusiveness:

Open Communication: Foster an environment where open, honest communication is encouraged. Ensure that every (team member) feels heard and valued.

Diverse Views: Find a way to bring a variety of perspectives and ideas. This diversity can lead to more innovative solutions and better decision-making.

Blue Ocean: Promote a collaborative culture where cooperation is prioritized over competition.

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Questions To Ponder?

1. Are you a transformative leader? Can you handle entrepreneurship?
2. Is life just happening to you, or are you actively living it?
3. Are you here to experience life fully or to avoid its challenges?
4. Do you know clearly what you want to be, not just what you want to do?

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Final Thoughts

To be an entrepreneur, you need to be a transformative leader and a beacon for others: that means integrating your personal and professional life seamlessly. Inclusiveness, coupled with integrity, sets the foundation for impactful leadership and successful entrepreneurship.

By following these 5 secrets to successful entrepreneurship, you can make the transition from corporate leadership to a purpose-driven entrepreneurial journey. The journey is about living your life fully, not just letting it happen to you. Embrace these principles and walk the talk in your entrepreneurial endeavors.