I have a problem related to my business and I don’t know how to solve it. What do you advise me to do?

I encounter this approach daily from young entrepreneurs who are new to the startup world and from people with entrepreneurial aspirations and financial independence goals. I understand what they are going through: fear of failure, stress, uncertainty—these are stages that define the life of an entrepreneur at the beginning of their career. It is normal to have moments like these; it is natural and human. Everyone I guide into the world of entrepreneurship faces difficult moments full of uncertainties at first. I have also gone through such challenging times, but I was fortunate to have supportive and valuable people by my side throughout my career.

The life of an entrepreneur is akin to the waves of the ocean: starting from the bottom, reaching colossal heights, meeting the shore, and then resuming the cycle of life or business: rising and falling. It’s crucial to be able to motivate yourself so that during tough times, when you’re “down,” you can lift yourself up. Additionally, having experienced people and true mentors by your side helps greatly in such moments. Their example, their experience both personally and professionally, and their guidance can assist you significantly in this entrepreneurial cycle and in your personal development process.

One common issue I see is young entrepreneurs focusing on technical or business issues without having clarified and consciously assumed the foundational reasons for being in that business at that moment.

Behind a successful entrepreneur, there is not just supply and demand. There are ideas, drives, influences, and goals that have led them to create a business that meets market demands. What do I mean by this?

1 in 5 startups manage to stay on the market despite competition and even get noticed by the public (clients/investors).

How can these early-stage businesses become appreciated and successful? And how is it possible for other companies to fail?

Have you ever thought about this?

First and foremost, it comes down to planning and control. How do you plan and control your time, mindset, and objectives? Yes, it’s important for us to be the ones in control. It may seem trivial, but in most cases, this doesn’t happen…

Why do you want to start a business? Honesty is a step toward creating a prosperous business. What does success mean to me? Have you ever asked yourself this question? If not, then do it!

For every question I ask you here, I want you to note it in your agenda and address it daily, bringing an answer to it.

This is a good start to creating principles without which your business or future company would not develop.

The objectives you set for starting a business are key to building and maintaining them over time, like pillars. These primarily derive from your WHYs, which I recommend writing down in the most honest and conscious exercise possible.

Secondly, you need to develop yourself: where do you want to go, what do you aim to do, and finally, what is the plan? Create a vision matrix: Who are you now and where do you want to go? Describe what you want to achieve in the future and how you can do this.

Then, set objectives as discussed above: Why do you want to do this? What is your passion? What are your values? How do you define success and what will be the impact of your actions?

How do you make yourself stand out? Build a personal brand, i.e., YOU as an entrepreneur, and concurrently the brand of your business, and decide how you want people to identify your products/services.

Start with the help of a mentor.

To grow personally and professionally, you need people around you who understand your passion, encourage you to act, and guide you to the most advantageous path for you so that your business becomes as realizable as possible.

As a mentor, I recommend that anyone looking to start a business set and implement TOP 5 objectives that represent the most important mix of achievable goals in both professional and personal development, including your passions.

It is crucial to maintain a balance between these objectives to avoid imbalances in your professional or personal life. Thus, choosing just 5 objectives, and not more, helps you stay focused on what truly matters to you.

These objectives should be evaluated annually or at least every 2 years, as you mature and evolve daily, allowing you to observe what you have achieved, what needs improvement, and what changes have occurred in your life after achieving those objectives.

Once you’ve followed these guidelines, I believe you’re ready to create an action plan to build your success.

In my mentoring activities, I have developed a useful tool called the Vision Matrix, Objectives, and Action Plan, which outlines the necessary steps to achieve personal and entrepreneurial development objectives for any aspiring individual. If you would like more information about my mentoring program and the tools used, you can email me at contact@florinmpop.ro.

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