Don’t stay in denial, or blame others—learn from the tough times these entrepreneurs experienced when their startups fell flat.
Choosing to leave behind the regular paycheck and benefits to build a
venture from the ground up is a huge risk.
With the odds against you, entrepreneurs feel like they’re literally pushing against the tides every day so when companies fail, the price, which can include financial ruin, utter embarrassment, and even mental collapse, is a hefty one for the founders.
We spoke to four entrepreneurs to explore what they learned from this mourning and accepting period, how they picked themselves up and moved on to become the success stories they are today:
Don’t wait for anything. Don’t wait till some magical story idea drops into your lap. That’s not where ideas come from. Go looking for an idea and it’ll show up. Begin now.
I agree with pretty much all of this.
Women with established businesses ranked their happiness nearly three times as high as women who are not entrepreneurs.
Do your Internet habits hold you back, or help you succeed?
In theory, technology should increase both work flexibility and productivity, but it is also responsible for procrastination and a major threat to people’s work-life balance.
In fact, much of the recent debate about work-life imbalance is concerned with our relationship with technology, in particular our inability to disconnect or go offline.
For example, in the U.S. almost 50% of working adults report being “hooked” on email, which is estimated to cost the nation’s economy at least $900 billion a year in productivity loss. According to consulting firm McKinsey & Company, professionals spend 28% of their work time reading or answering emails. These statistics explain the international success of bestselling books like The Four Hour Work Week.
Furthermore, even people who manage to keep their email addiction in check are prone to getting hooked on other sites or apps, such as Facebook or Twitter, with a growing number of people trying social media sabbatical, where they detox from these sites for a couple of months or so. Needless to say, our digital excesses may harm not just our productivity but also our personal relationships with others, especially if they demand exclusive attention from the physical world.
So how can we better manage our web-life balance? Here are four practical suggestions you may want to consider:
You can unplug the Internet and pull the shades—or you can phone a friend.
You’re reaching the frayed ends of over-caffeinated overtime and if your inbox pings one more time, you might throw your laptop at a wall. If you had the time to read a whole self-help book on being overwhelmed, well, you wouldn’t need it, would you?
A study published in the Journal of Occupational Health Psychology looks at your options for bailing out of a burnout, before the meltdown starts.
Using a psychology model of coping mechanisms called selection, optimization, and compensation, the researchers tested each method with a sample of 294 employees and their supervisors. Only one of these strategies actually worked. But first, a review of their definitions:
The fastest-growing demographic in the workforce knows a few things about motivating and leading others.
With their widespread entrance into the workplace, millennials are bringing new requirements of employee engagement that include creativity, entrepreneurialism, and accelerated career growth. Research by Deloitte is projecting that millennials will make up 75% of the global workforce by 2025. They are supportive of—and engaged with—companies that care about more than a high-profit margin.
Leaders are noticing the change. According to Deloitte, 78% of business leaders rate retention and engagement as urgent or important.
What secrets of employee engagement can you pick up from millennials? It’s not about pay or work-life balance. Here are some ways to increase engagement in your organization:
If you are working on something exciting that you really care about, you don’t have to be pushed. The vision pulls you.
These creative thinkers prove that if you can dream it, you can probably make a living out of it.
Having a dream job means different things to different people.
It could be the job you’ve been working towards throughout your career—something you’ll hopefully reach in the future. It could be a fantasy of a life that’s completely different from your current job, doing something extraordinary. Or it could be turning something you love to do into a job and making a living out of it.
If you’re searching for inspiration for that fantasy life with an extraordinarily cool job, here are some passions we never thought of turning into a job: