5 things every entrepreneur should do this summer

3

Click here to load reader

Upload: the-phat-startup

Post on 21-Jan-2018

98 views

Category:

Small Business & Entrepreneurship


1 download

TRANSCRIPT

Page 1: 5 Things Every Entrepreneur Should Do This Summer

5 Things Every Entrepreneur Should Do This Summerthephatstartup.com /2014/06/27/5-things-every-entrepreneur-summer/

Today was the last day of school which means summer time is officially here. We are based in New YorkCity and you can definitely feel it in the air. There are more tourists roaming the streets, more sandals onthe pavement and the general atmosphere speaks of excitement. The summer season has approached usand it’s going to be a hot one for sure.

Not only is summer a great time for students but the season is also cherished by entrepreneurs around theworld. There are some people that think summer is a lazy period, where you lounge around all day in theheat and get nothing done.

This couldn’t be further from the truth. Summer can be used as productively as any other season andsometimes the characteristics of the summer season make it especially useful for working on yourbusiness. I am here today to show you how to make the most of the next two months:

1. Read a book

As entrepreneurs we are always on the go. There is always another email to follow up on, new research toconduct or an startup event which could you lead you to an investment in your company. With all of theseitems on our to-do lists and tasks on our trello board, it makes it very difficult to actually sit down andabsorb a good book.

I’m sure you keep up with the most relevant article in your industry but when’s the last time you actively satdown and read a book from front to back? Reading is very important in your growth as an entrepreneurbecause there is the opportunity to gain first hand knowledge from other people’s successes and failures.

Page 2: 5 Things Every Entrepreneur Should Do This Summer

It’s almost equivalent to having a one on one conversation with the dream businessmen. We suggestreading autobiographies or business books written by credible authors because that way you will get moreaccurate information that you can use to grow your business.

2. Go for a swim

During Pharrell’s recent press tour for his new album “G I R L” he made a very interesting point about thesource of many of his hit records. Pharrell said that he gets the idea for many hit songs while he is in theshower. He says that sometimes he will just let the water run out for about ten minutes then after a whilean idea will spring into his head.

There is science that backs up his claim that water helps to soothe your mind and allow the creativeprocess to run free. You can also achieve this level of idea generation by going for a swim. You will feelmore relaxed in the ocean or a lake and can think more clearly about your business or new problems thatyou want to solve. Summer is a great time to get back in tune with mother nature and help urge thecreative flow.

3. Complete a side project

Coming up with ideas as an entrepreneur is the easy part. The execution of those said ideas is whatseparates the winners from the losers. In the everyday life of an entrepreneur we seek to minimize theselosses and maximize the gains. Sometimes this can affect us negatively because we choose to pursuebusiness avenues that might be too safe with little reward. And then forego very rewarding lines ofbusiness that might have a heavy risk attached to it.

This summer try tackling one of those riskier ideas that has been floating around inside your head. Butinstead of going full force with the idea, try breaking it down into a smaller more manageable project. Thisway you can have confidence that it won’t blow up in your face and it’s still significant enough to test andscale the results for when you are ready to implement the larger idea.

4. Visit your family

The age old saying is that to be an entrepreneur requires GREAT sacrifices. The biggest sacrifice of all thatentrepreneurs face is not spending enough time with our families and loved ones. This could mean blowingoff a date with your girlfriend because one of your servers crashed or not seeing your parents for a ninemonths because you were you determined to launch your company in Silicon Valley.

Each person’s situation is different. The most important thing here is to try to plan some time over thesummer to go and visit your family or loved ones. It doesn’t have to be long, we know you have things todo. Just a weekend or even a day trip where you are fully present around the people that have supportedyou your whole life or will be supporting you in the future. Family and friends are the formula which keepsus sane as entrepreneurs. Let this summer be the time to make sure you have enough of the formula.

5. Find a mentor

Here at The Phat Startup we always stress the importance for entrepreneurs to organize a mastermindgroup and find an effective mentor. The pros of having a mentor are endless and stretch far beyond whatthey do for you or teach you. A mentor is someone that has been in your shoes before and can help younavigate the path to success. They are the ones that have failed where you are hesitant to reach and cangive you advice on overcoming those hurdles.

Most importantly they serve as a yardstick which lets you know how far you can go and the work that isneeded to get there. We can’t stress it enough, find yourself a mentor and watch how much more clearly

Page 3: 5 Things Every Entrepreneur Should Do This Summer

you see and understand your business. If you already have a mentor find another one in a different aspectof your business. Go out and look for a mentor with experience in human resources or marketing orbranding. There are many different aspects of your business which you could use guidance and a mentoris a perfect place to start.

Summer is a great time to reflect and evaluate the approach to your life and business. Use this timeeffectively and you will be in a stronger position when Fall comes around the corner.