By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Small Business > Three Ideas About Entrepreneurship That Need To Go
Small Business

Three Ideas About Entrepreneurship That Need To Go

News Room
Last updated: 2023/10/12 at 11:04 AM
By News Room
Share
6 Min Read
SHARE

Teja Chekuri, Global Entrepreneur. Founder and managing director of Ironhill Brewery.

Contents
1. It’s all about the hustle, 24/7.2. Failure is not an option.3. You need to do it all by yourself.Create your legacy.

Entrepreneurship: A rollercoaster of exhilarating highs and challenging lows. Each up fuels ambition, while every down teaches resilience. It’s a journey where determination conquers setbacks and innovation thrives on adversity. The pursuit of dreams is not always smooth, but I believe that the ride is undeniably worth it.

While on this ride, the one thing that is constant is change. The value system that you built your startup on is likely not what the younger generation cares about. The steps you took to build your brand may no longer matter to the new workforce and the output and definitions of success that you dreamt about may no longer be a shared dream (or even one that makes sense) to your current team.

However, resilience and adaptability are the middle names of every entrepreneur. As the winds of change shift tides, I believe that fellow entrepreneurs and future moguls need to pay heed to these three outdated ideas about entrepreneurship that have outlived their welcome.

1. It’s all about the hustle, 24/7.

Yes, we’ve all heard it: “You need to hustle like your life depends on it.” But let’s be real, folks. Burnout is not the secret sauce to success. It’s about working smarter, not harder. Remember, even the most powerful smartphones need recharging. Take a step back, breathe and let those innovative ideas flow during your downtime. The hustle is essential, but it’s only one piece of the puzzle.

Of course, that’s easier said than done. The entrepreneur’s brain never really shuts off. And this is also because you want to do everything well and make sure everything is done. However, there is only so much you can do as an individual. To put my “hustle brain” at ease so I can take some time off, I use technological tools to support my teams. Things like receiving quick updates once a day are easier to check and monitor than worrying about reports all day long.

2. Failure is not an option.

Oh, the fear of failure. It’s time to kick it to the curb. Entrepreneurship is a rollercoaster, and yes, you may face setbacks. But guess what? Those setbacks are just pit stops on the road to greatness. Failure is not a full stop; it’s a semicolon. Embrace it, learn from it and come back stronger. The most successful entrepreneurs have a failure or two (or even ten) under their belts.

The entrepreneur’s mind always takes failure hard. And maybe that is the reason they try harder the next time around. But this is a double-edged sword that can also cut both ways. The mind needs to rest to be able to perform better and live to fight another day. I have realized that the mind can be trained, but you need to take the initiative. The work discipline that helps you be a successful entrepreneur comes in very handy here. Train your brain to let go and view failures as stepping stones. Personally, yoga and meditation have helped me create the discipline I need to manage the lows and ride the highs with a level head.

3. You need to do it all by yourself.

Sure, it’s your vision, your dream and your passion, but that doesn’t mean you should carry the weight of the world on your shoulders. Entrepreneurship is a team sport. Surround yourself with a crew that complements your skills, challenges your ideas and lifts you up when you’re down. Delegating and collaborating are not signs of weakness; they’re signs of wisdom.

Broad spectrum micromanaging is a classic symptom of a lot of entrepreneurs. We relinquish control for some time but never lose sight or control of the reins. And somewhere, it seems justified since your reputation, money and company are all at stake.

While delegating and collaboration might not be new terms for you to hear, it is time now to live them. Take it off the posters on the walls and start implementing them. It is tough. But it has to be done if you are to move to the next phase of success. This is one of the toughest things I had to unlearn and relearn to do.

The notion of a micro manager is not only off-putting to the new workforce and customers but also closes the loop around the entrepreneur, leading to overwork and stress. Be the leader your team needs.

Create your legacy.

Let’s bid adieu to these antiquated notions and welcome a new era of entrepreneurship—a world where balance, resilience and teamwork reign supreme.

Remember, we’re not just chasing success; we’re creating a legacy. So, let’s do it smarter, together and with a dash of wit. Together, we can build businesses that thrive on collaboration, learn from failures and empower us to live well-rounded lives. Cheers to another season of breaking molds, defying conventions and rewriting the rules of the game.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

Read the full article here

News Room October 12, 2023 October 12, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
UK steps up efforts to woo scientists fleeing the US

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Why Prices Will Still Rise In The U.S. Despite China Tariff Pause

Watch full video on YouTube

Small banks fuel revival in blank-cheque Spac deals

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

UK and EU reset talks go ‘down to the wire’

Britain and the EU will on Monday agree a major post-Brexit reconciliation,…

Former US president Joe Biden diagnosed with aggressive prostate cancer

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

- Advertisement -
Ad imageAd image

You Might Also Like

Small Business

Brilliant Or Lucky? 4 Key Insights For Ventures & Angels

By News Room
Small Business

A Conversation With Agile Expert Harry Narang

By News Room
Small Business

College enrollment is down, Gen Z losing faith in a degree. Here is a better option.

By News Room
Small Business

The Digital Cyrano De Bergerac Of Modern Business

By News Room
Small Business

Why Do We Stay In A Job When We Are Not Happy? Insights To Help You Get The Career You Deserve

By News Room
Small Business

Making A Large Language Model Transparent, Compliant And Reliable

By News Room
Small Business

The Important Initiative For Real Digital Marketing Results

By News Room
Small Business

The Future Of Real Estate

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?