Entrepreneurs are a special breed. They typically put everything on the line in pursuit of a dream.
The number of balls Entrepreneurs have in the air is overwhelming.
- Entrepreneurs have to get their business off the ground
- Entrepreneurs have to grow their business in order to become profitable
- entrepreneurs have to simultaneously manage employees, contractors, business partners, business relationships and customers.
- Entrepreneurs have to create processes that work. This is a trial and error process that takes many years to complete.
- Entrepreneurs have to manage limited cash flow, deal with cash flow shortfalls and make payroll.
- Entrepreneurs are often being pulled in ten directions at one time, which causes enormous stress and saps them of their energy
- Entrepreneurs often have to deal with marital problems caused by their absence or financial struggles.
- And, if they are a parent, Entrepreneurs have the most important responsibility – being a mom or dad to their children.
It’s a wonder anyone would choose to become an Entrepreneur.
From my Rich Habits research, I’ve identified three common things that every successful Entrepreneur has mastered:
#1 SURVIVE UNTIL YOU THRIVE
When things go wrong and life throws the Entrepreneur a gut punch, they do whatever it takes to Survive.
When Entrepreneurs are in Survival Mode, the successful ones are able to figure out, very quickly, what works and what doesn’t work and then Pivot from doing what doesn’t work to what does work.
#3 CONTROL EMOTIONS
One of the Entrepreneurs in my study told me that when they are faced with an emotional situation, they repeat to themselves over and over – Be Like Spok. Spok is a Vulcan character in the Star Trek series who has mastered his emotions and is therefore able to make decisions based solely on logic.
Controlling your emotions is important because when the emotional part of your brain takes control, it partially shuts down the pre-frontal cortex, which is the logic center of the brain. Decisions made in an emotional state are almost always bad decisions. By mastering their emotions, successful Entrepreneurs are able to make logical decisions, which are almost always they best decisions.