How to Stay Motivated as an Entrepreneur

In general, entrepreneur's are motivated people. We're fueled by our innovation, creativity, and our passion for our business. But those long hours and can-do work ethic can cause burnout and make us lose motivation, especially during the heat of the summer when our friends are taking long vacations at the beach and we're stuck doing, well, 'work.' If you're starting to feel your motivation dwindling, don't worry. You're not alone, and even better, you can get through it. Here are some entrepreneur tips for staying motivated:

Set a quit time

Entrepreneurs tend to stray from the typical 8-5 workday, and global accessibility through emails and skype makes it more than easy to have a 24 hour workday. When you're an entrepreneur, you are probably working long hours, especially as you're building your business. But it's also important to recognize when enough is enough. Set a realistic quitting time for yourself, and stick to it at least most days of the week. Stop answering emails after 8 pm, or take Sundays off. You'll feel more refreshed and more productive when you allow yourself some down time.  Settle down, bro (or sis).

Take a mini vacay

You might not be able to get away to the coast for a 10 day vacation, but you probably should.  With your laptop.  Either way, go have some fun. Take next Sunday off and head out to the lake with your friends or family. Surprise your partner with a night out at a swanky hotel to reconnect and unwind.  Spend some money and do something wild because that's what you're already doing as an entrepreneur. If you're starting to feel overwhelmed, a short mini vacation can do wonders to boost your motivation and get you back to your normal productive, energetic self.

Review your progress

When all else fails, take some time to revisit your original vision and map how far you've come. There's nothing more motivating than comparing where you started to where you are now, and going back through your original vision will likely fuel your drive to move even further with your business.  I like to look back to before we had Brad Feld on the Handshakin Video Series and celebrate before I worry about how we're going to get Mark Cuban.  Entrepreneurship is fun, don't make it a pain.  

The life of an entrepreneur has its perks, but it can also be exhausting. Even the most driven entrepreneurs lose their motivation now and then. If that's the case for you, then take some of these tips to get your mojo back and get back in the game. For more ideas on how to hold yourself accountable and stay motivated, apply to the Handshakin Startup Pre-accelerator today!  Seriously, go do it now.  You can do it from your phone in a few minutes.  GO!

3 Tips to Avoid Big Mistakes When Starting a Business

Starting a business can be challenging and filled with a lot of learning experiences. Everyone who starts a business goes through a period of learning and adjustment where mistakes can easily be made. The key is to avoid mistakes as often as possible.

Here are some tips to help you avoid making mistakes when starting your own business.

• Know that it is alright to make mistakes as a new business owner. However, you need to learn from them and move on. You can't constantly worry about making mistakes or you might be too worried to start or grow your business.
• Be protected, in case of mistakes. You may not think that you need insurance for your business but you might want to look into getting a policy, just in case. It is better to be safe than sorry.
• Join a support group of local entrepreneurs. It can be very helpful to meet other like minded business owners who may be able to guide you through the process of starting your own business. It is nice to get out and network with other professionals just like yourself. You will make good contacts that may help you in your business. You will also receive some good advice that may save you time spent on research.  #community
  

You should expect to make mistakes when you start your own business. It is only natural that it will take time to learn how to run a business. Because of this, you should not be too hard on yourself. You might want to look into getting insurance, just in case. It does not hurt to be protected. It is also helpful to join an entrepreneurial community like Startup Denver if you're in Colorado. The advice you receive will be invaluable. You will also find many good contacts to help you grow your business.

Contact us for more tips on starting and growing your business.

Entrepreneur Tips: Refocusing Your Actions to Fulfill Your Aims

We’ve all been raised to believe that you only need to work hard in order to succeed at something. To a large extent, this is true. Working hard does bring results. However, they may not be the exact results that you want. To gain more focus, try the following entrepreneur tips.

What Are You Working Hard At?

Rather than working hard but blindly, you need to ask yourself what exactly you’re working hard at.  Are you working hard to provide the best services to your customers?  Are you working hard to get more customers?  Are you working hard to become well known in your field?  Or are you working hard to make more money?  If you haven't started your business, make sure you're not working hard climbing the corporate ladder that's leaned against the wrong house.  

Do Your Aims Overlap?

Often, you’ll find that if you work hard at one thing, you’re also working hard at another; there’s an overlap between the two.  For example, if you provide good service, you’re probably going to get more customers and make more money as well.

But sometimes, you’ll find that working hard at one thing doesn’t automatically lead to another.  You can provide good service without getting new customers or making more money.  You can be well known in your field without making more money.  You can say no to many opportunities that aren't aligned with your big aim.

Do Your Aims Correspond to Your Actions?

Every successful entrepreneur wants to provide good service, become well known, make more money, encourage productivity, and keep team members happy.  It just makes sense to stop every once in a while and ask yourself where all your effort is going.  You might find, sometimes, that the aims you have in your mind do not correspond to your actions.  So you might need to refocus your behavior to achieve what you want.  Immediately stop doing tasks that aren't related to your goal.  Today.  It will be sloppy.  Do it.

Understanding Your Aims

The first thing to do is to sit down and think about what you want to achieve in your business.  Know your why.  Do you want to be known as one of those companies that people love to work for?  Do you want to be known as reliable and trustworthy among customers?  Check out one of my favorite Ted Talks, "Start With Why."

Creative Ways to Fulfill Your Aims

Once you understand exactly what you’re going for, you can also make a list of actions that will help to achieve your aims.  It’s a good idea to be as creative as possible while you do this.  Just write down everything that comes to mind, and then take a sharpie to it and brutally narrow it down to 1 or 3 aims.

If possible, keep your lists in a place where you can easily access them and try to do one thing on each list everyday.  This way, you’ll always be doing what’s necessary to achieve your aims.

Are you spread to thin on your business idea?  Or spread to thin on multiple business ideas?  Apply to the Handshakin Startup Pre-accelerator.

Starting a Business? Crowdfunding 101 - Understanding the Basics

Crowdfunding has become a popular method for raising money. The basic premise is to raise funds by appealing to the masses. A large number of people each give a small amount of money to reach a goal. 

Typically, an individual, business, or organization creates a campaign to convince people their project is worthy. People then decide if they want to contribute. Often, a small gift is given in return for this contribution. It is an excellent method of raising capital when you are starting a business. Here are the basics of crowdfunding.

Why do people contribute?

1. Freedom to choose and support projects that they feel are worthy.
2. There is little risk involved because if the campaign does not reach its goal, the funds are returned to the contributor.
3. There is usually an incentive given, such as a gift. Typically, the larger the contribution, the better the gift.
4. Satisfaction of seeing a new product or project that they want actually reach the market.

Who uses crowdfunding for raising money?

• Startups, new businesses or companies use it to gain startup capital.
• Inventors of new products use funds to get their product on the market.
• Artists use it to get their music, writing, or other art projects to the public.
• Nonprofit organizations use it to raise money for their cause.
• Individuals use it to raise money for personal needs like medical bills or educational purposes.

What is involved in a crowdfunding campaign?
The most successful crowdfunding campaigns tell a story and really speak to who they target. The product or service being funded fulfills a need or solve a problem for people. Campaigns use every possible channel to reach potential contributors.

• Social media
• Videos, often on YouTube
• Blogs
• Websites
• Press releases

The goal is to create interest and excitement about the project by every possible means. The more “hype” that can be created, the more potential for success.
What are some popular crowdfunding platforms?
Most crowdfunding platforms are located online. Our top 5 favorite:

1. Tilt
2. MyHub
3. Indiegogo
4. Kickstarter
5. Gofundme

There is no shortage of crowdfunding websites available. These are just a few of the most popular and ones we've used in the past. Each has its own unique advantages and beneficial qualities.

Crowdfunding provides a wonderful opportunity for fundraising. When executed correctly, you can raise enormous amounts of money for your business, organization, or project.

Apply to our startup pre-accelerator to get your idea ready for a crowdfunding campaign!