Before venturing into any business, it is essential to plan what to do with the profits that come from the business. But on the other hand, it is just as important to mentally prepare for the losses and missteps that are almost inevitable in business. Preparing for a business venture, and deciding on clear goals and your company’s priorities will help down the line when making tough decisions.
Mindset comes first.
Even in a successful venture, mindset is vital in all decisions. The attitude taken toward running a business has everything to do with getting that business off of the ground.
As an entrepreneur, Jordin Roussel was doing quite well in his early twenties. His businesses were booming, and he was bringing in healthy profits, but his mindset was suffering. He said at the start of his career, he was working with so many people, bringing in so much money, that he forgot about his mission, his purpose, and his vision for the company. Through his journey with toxic interpersonal relationships and drug abuse, his business died down, banks repossessed his properties and he was bankrupt and left with nothing.
A prideful attitude towards your business can swiftly bring it down. A good mindset, one of humility, skepticism, positivity, and innovation, can help you endure the hardships that come with running your own business. More than that, it is important to keep a professional attitude. Keep up with documents and file papers away thoughtfully, as a careless attitude will result in careless business practices. Your business is your baby, so take care of it like one.
Business comes second.
With the right connections and capital, any person can start a business. But it takes a dedicated and strategic person to run a successful business.
Business must come second to mindset, as its success is based on its owner and stakeholders’ decisions being made from balanced mindsets. So many people starting a business misunderstand the meaning of dedication and make the business their first priority over tending their thought patterns because they believe that their business will fail if they do otherwise.
But putting your business second does not mean it will fail. Rather, knowing your boundaries around business matters and putting your mental health first will bolster your capacity for handling the precarious nature of running a company.
These lessons are obviously easier to say than put into practice. When Jordin Rousell realized his priorities were out of order, he’d already lost his properties along with his business. He decided something within himself had to change to run a successful business, and he was able to start again with greater knowledge and a new set of priorities.
Jordin is proof that a strong mindset is required for one to succeed in business. Although he learned the hard way, it sharpened his focus and enabled him to strive for success. It’s crucial to remember why you ventured into business, and what goals and passions brought you to this point. It is not a sprint; it’s a marathon. In business, every decision counts; a proper plan and strategy get you to the top.