Entrepreneurship is one of the most rewarding career paths around for a number of reasons. This is partially due to the amount of autonomy you have as your own boss. You also, in theory, have the potential to align your business interest with your personal interest. With this versatility, though, comes difficulty and adjustments. The business landscape is constantly changing, and as you adapt your business, you want to make sure you are adapting as well.
As a starter, you want to make sure you are leaning on other people in business to get regular advice and idea. Most people have a single mentor that they start with in order to get their feet wet but don’t bring on new people as their operations grow. This is a bad mistake. Allen Lau, the founder of Wattpad, uses a full-on peer group to bounce off ideas. He shared the way this group works with Entrepreneur.
“I have a group of CEOs, where we meet every two months, we lock the doors and turn off phones for three hours. …It is a free environment where we can share some of our challenges, and I can utilize the power of my peers to help solve my problems and vice versa.” Granted, this method is a bit formal. However, meeting with various peers for lunch or over the weekend isn’t a bad idea. Make sure you get perspective from varied mindsets and people who don’t feel that they always need to agree with you.
Sometimes, a classic is the perfect fit, like a SWOT chart (Strengths, Weaknesses, Opportunities, Threats). Many business professionals use this to help make decisions. It can also be applied to yourself as a business owner. Take a neutral stance here, looking at where you are strong and weak. For example, if you work in immigration advertising, are you keeping up with related political and legal news to make sure that that your ad copy is up to date? If not you may need to reevaluate how you plan your time. Be honest and make physical notes of these areas to give you a path to improvement.
Athletes are always in training, but also need to take a break every now and then from regimented workouts. Something similar applies to you as a business owner. Taking an occasional break is not only about taking the pressure off of yourself but time to think freely. Some of the greatest moments in business innovation haven’t come from boardroom pondering, but a simple moment catching the attention of a free mind. Give yourself the opportunity to have that free thought every time and again.