Operating your enterprise can get frustrating at times. It doesn’t matter if you handle the responsibility of a corporate entity or run a small business; stress is an inescapable part of the job. For instance, when you see your existing customers disappear or the sales pipeline dwindles, feeling demotivated is quite natural. However, if you want to succeed at your business, you must recharge yourself and continue doing your work with drive and passion.
Nevertheless, it isn’t easy to find motivation in challenging times. However, being your own boss, you should keep up with the motivation. How? Let’s see.
Have you ever struggled to motivate yourself at any given point in your entrepreneurial journey? If yes, then the following are the basic yet practical tips that will help you stay motivated while operating a small business as an owner:
1. Know your “Why”
The author of the famous book Drive: The Surprising Truth About What Motivates Us, Daniel Pink, describes the difference between intrinsic and extrinsic motivation in his book.
Extrinsic motivation happens when you allow yourself to get rewarded when you do good work or get punished when you make a mistake.
Intrinsic motivation, on the other hand, is driven by internal rewards. For example, you write a blog on a specific topic simply because you love writing and not for any particular external reason. Research has found that intrinsic motivation boosts your creativity and innovation.
In this context, find your ‘why’. Know what drives you the most and why you have started this business in the first place. People often start their entrepreneurial journey out of a passion for something, or they feel excited about an idea.
In order to keep up with the motivation, you must remember your ‘why’ so that you can rediscover your purpose and re-align yourself on the right track.
2. Write down your business mission statement
You must remind yourself and your team about your company’s vision. A good business mission statement will inspire you and keep you motivated. It should be clear and precise so that you and your team can easily follow it.
Let’s consider an example of TED; it reads: Spreading ideas. This is an unequivocal and simple statement that underlines the company’s core mission of sharing short but inspiring ideas through free videos.
Consider including this mission statement in your business plan and make it accessible to everyone in your team.
3. Set your short term and long term goals
You will struggle to find motivation if you do not have well-defined goals in front of you. You should set short term and long term goals that are realistic and attainable.
Use SMART goal setting technique in which
- S stands for Specific
- M stands for Measurable
- A stands for Achievable
- R stands for Relevant
- T stands for Time-bound
If you feel your long-term goals are too overwhelming, then you can break them down into small, actionable steps that you can follow each day to give a specific direction to your efforts.
4. Take regular breaks for rest
As an owner, you carry huge responsibilities on your shoulder. Make sure that you are getting enough time aside for rest. It has been found that 50% of startup owners suffered from burnout. So this is a genuine concern that small business owners cannot afford to ignore.
Consider taking regular breaks for rest. Set the out-of-office autoreply, and don’t rush to answer emails while you are away.
As you plan your schedule, delegate the work to your team and ensure it is done within a set time.
As you sign off from your workday, do something entirely different that lets you feel relax.
5. Talk to other entrepreneurs
On your journey to become a successful entrepreneur, you tend to feel overwhelmed with the expectations and responsibilities. It’s a great approach if you open yourself up to other small business owners as they could relate with you in so many ways.
Go on creating support groups of entrepreneurs where small business owners can share their experiences and insights with each other. You will feel connected and find inspiration to continue the work with great passion.
This article has discussed a few tips to help small business owners keep up with motivation. If you follow these simple and basic steps, you will eventually internalize a sense of purpose and drive within you that help you stay motivated in the long run.