10 Success-Boosting Motivation Tips From Millionaire Entrepreneurs – Entrepreneur
Posted: August 5, 2017 at 4:44 pm
Motivation isa daily struggle for entrepreneurs, so Ive put together these motivation-boosting tips from 10 of todays successful entrepreneurs.
In an article that he wrote forBloomberg, Mark Cuban stated that he uses the fear of failure for self-motivation.
No matter what business youre in, youre always at risk -- particularly in technology, where it changes so rapidly youve got to put in the effort to keep up, writes theShark Tankpanel member. Theres always the opportunity for some 18-year-old to come out of nowhere and crush youthat motivates the hell out of me.
Every one of my companies, whether something I started or something I invested in, is a scoreboard. How am I doing? A lot of investors or advisers play it as a numbers game.
If they invest in 20 companies, as long as one success covers 19 losses, they did OK. I look at every loss as ahuge failure. I had an investment go bad recently. I lost $1.5 million on it. It pisses me off to no end."
Failed at something? Ask these Mark Cuban questions.
"You can also use it as motivation. What did I do wrong? Who did I trust that I shouldnt trust? What can I learn from this situation so I can avoid it next time?
Related:5 Habits of Successful People
This is the key. However, as Chalmers Brown, co-founder and CTO of Duewrites, We want to not only make a lot of money but enjoy what we do as well. We are willing to take on the risk of unstable pay in exchange for following our dreams.
Unfortunately, your dream job may not always be the best decision financially. Sometimes your hobbies are best kept as projects in your spare time for fun (which is great!). If you do want to try to turn your passion into a full-time job, these tips can help you get started the right way.
Brown gives the tips below:
Related:12 Millionaire Habits to Start Making Serious Money Soon and Build Wealth in a Hurry
Its so easy as an entrepreneur to get sucked into feeling exhausted or frustrated, and often the blame is yours alone,writesMurray Newlands, founder of online invoicing companySighted. But a negative mindset sucks up mental bandwidth and energy that you need to stay focused and successful.
"It is crucial to maintain an optimistic attitude in the face of setbacks. Whenever you see a quote or a picture that helps you stay positive, place it front and center so you can remember what this journey is all about.
Related:WhyAffirmationsHave Failed You and 4 Steps to Change That
On June 26, 2008, our friend Michael Seibel introduced us to sevenprominent investors in Silicon Valley. We were attempting to raise $150,000 at a $1.5M valuation. That means for $150,000 you could have bought 10 percentof Airbnb."
"Below you will see fiverejections. The other twodid not reply, writes Airbnb Co-Founder Brian Chesky onMedium. The investors that rejected us were smart people, and I am sure we didnt look very impressive at the time.
Today Airbnb is valued at just under $30 billion.
Related:Airbnb Pilot Connects Refugees and Evacuees With Housing
"No one does it alone," said Mark Zuckerberg during aQ&Ain 2016. "When you look at most big things that get done in the world, they're not done by one person, so you're going to need to build a team."
When building your All-Star team, seek out people who excel in the areas where youre not strong or have less experience. "You're going to need people that have complementary skills," Zuckerberg emphasized. "No matter how talented you are, there are just going to be things that you don't bring to the table."
Related:20 Weird Things You Didn't Know AboutMark Zuckerberg
All of my best successes came on the heels of a failure, so Ive learned to look at each belly flop as the beginning of something good,saidBarbara Corcoran, founder of The Corcoran Group and Shark onShark Tank.
If you just hang in there, youll find that something is right around the corner. Its that belief that keeps me motivated. Ive learned not to feel sorry for myself, ever. Just five minutes of feeling sorry for yourself takes your power away and makes you unable to see the next opportunity.
Related:Shark Tank's Barbara Corcoran: 'All the Best Things Happened to Me on the Heels of Rejection'
Inspiration is a driving force that you can use to motivate you. Lyft Co-Founder Jordan Zimmermansaidthat, Right now, my daughter is a huge inspiration. Thinking about the future of our cities, the world and what environment shes going to grow up in.
Also, the driver and passenger stories we hear every day. In a past team meeting, we had a mother come in and tell the story herself. She is a Lyft driver living in New York and her daughter is in Los Angeles.
"The daughter was going through a rough living situation with a roommate and had to leave and move into a new place. The mother called a Lyft for her daughter, had a quick conversation with the driver and the driver took care of her daughter in this tough situation.
These stories inspire us to think how we can make things more efficient and create a platform for two people to have a really positive interaction?
Related:Lyft Co-Founder John Zimmer: 'You Should Never Veer Off the Path of Your Own Values'
Yes. Think about your vision. But dont spend too much time over it or it will bog you down. Elon Musk, for example, only spends around30 minutes a weekon his vision of SpaceX colonizing Mars. Besides those 30 minutes, Musk spends a majority of his time focused on the milestones that are the most immediate and critical.
Related:SpaceXPushes Back Mars Mission Timeline
Most of the time when people ask me about motivation, 80 percentof the time I attribute it to gratitude. If you want real fuel to win, be grateful,writesGary Vaynerchuk.
Gratitude is what has gotten me through my toughest moments in business. Whenever I have lost a deal to a competitor, or an incredible employee, or millions of dollars in revenue, I default to gratitude. Its impossible not to stay motivated or get too down when youre feeling grateful.
Related:Gary VaynerchukSays the Key to Lasting Success Is Practice. Period.
So many people wait to feel motivated before they do anything. Heres a newsflash: happyproductive peopledo not wait for motivation, they just get on with it,'' said Marie Forleo.I suggest that you watch the entirevideowhere Marie shares her tips for motivation. Its spot-on.
John Rampton is an entrepreneur, investor, online marketing guru and startup enthusiast. He is founder of the online invoicing company Due. John is best known as an entrepreneur and connector. He was recently named #3 on Top 50 Online Influ...
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10 Success-Boosting Motivation Tips From Millionaire Entrepreneurs - Entrepreneur
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