The path to success in business is rarely easy or straightforward. In this blog post, I share ten brutally honest business tips based on my own experiences as a self-employed person. These tips are designed to help you set realistic expectations and take the necessary steps to achieve your entrepreneurial goals. Inspired by Alex Hormozi, but packed with my own insights and real-life examples, this advice is for anyone seriously considering a career as an entrepreneur.
Make your decisions alone
A successful entrepreneur must learn to make decisions independently. Being inspired is fine, but copying the CVs and strategies of others who became successful in a different time or under different circumstances is not helpful.
Practical example: Imagine you see a successful entrepreneur who has made it wealthy by selling online courses. It may be tempting to follow this path too, but without knowing the exact circumstances and efforts that led to this success, you can easily fail. Instead, focus on what works for you and your individual strengths and weaknesses. Make decisions based on your own knowledge and experience.
Accept the Reality Check Code
Being honest with yourself is essential. Take responsibility for your failures and don't blame external circumstances.
Practical example: Suppose your online store is experiencing falling sales. Instead of blaming the season or external market conditions, critically analyze your own mistakes. Have you done enough marketing? Are your products competitive? This kind of self-reflection is crucial to long-term success.
Checklist for the reality check:
- Analyze your business processes regularly
- Set yourself weekly reflection times
- Create a list of errors and solutions
Set priorities and be consistent
Work-life balance is an often misunderstood concept. Focus on one pillar, in this case your career, and set clear priorities.
Practical example: When you start a start-up, you will find that your career often has to take priority over other areas of your life. For example, a friend might invite you on a trip, but your business plan requires you to work on an important project. By prioritizing and staying consistent, you will ensure the progress of your business.
Tips for setting priorities:
- Create a to-do list with clear priorities
- Avoid distractions from social media and unimportant meetings
- Set yourself daily and weekly goals
There are no shortcuts
Success requires hard work and consistency. There are no magic shortcuts or tricks that make the path to success easier.
Practical example: Imagine you've heard that certain social media tricks can quickly lead to more followers. You invest time and money in these tricks, but the results don't materialize. The real key to success lies in consistently creating high-quality content and authentically engaging with your audience.
Change your environment
Your environment has a significant influence on your success. If the people around you don't support you or are even negative towards you, you need to change your environment.
Practical example: You have a great business idea, but your friends and family are skeptical and constantly discourage you. Instead, seek contact with like-minded people who share your vision and encourage you. Join entrepreneur networks or mastermind groups to find support and inspiration.
Steps to change the environment:
- Identify negative influences in your current environment
- Search for networks and groups with similar goals
- Spend more time with positive and supportive people
Solve the Big Problem First
Face the biggest challenges first. Many people tend to do the easy tasks and avoid the big problems.
Practical example: You have a start-up and a critical piece of software urgently needs updating, but you keep putting it off because it's a complex and time-consuming task. Instead, you focus on smaller, less important tasks. Sit down and solve the big problem first - updating the software. Once that's done, the rest of the workflow will go much more smoothly.
Tips for solving problems:
- Create a priority list of problems
- Break down large problems into smaller, manageable tasks
- Work on the solution with focus and without distractions
Be a learning machine
Learn continuously and never stop developing yourself. There is always something new to learn, be it through books, courses or exchanges with others.
Practical example: Let's say you run a small café. Use the off-peak hours to try out new recipes, perfect barista techniques or learn marketing strategies. Attend workshops and trade fairs to keep up to date with the latest developments in the industry and expand your knowledge.
Routines for continuous learning:
- Read specialist literature or relevant books every day
- Attends regular training courses and workshops
- Exchange ideas with experts and other entrepreneurs
Set yourself goals and achieve them
Set yourself clear, measurable goals and work systematically towards them. Break these goals down into smaller, achievable steps and continuously track your progress.
Practical example: You want to double your turnover in one year. Set monthly and weekly interim goals, such as launching new products, increasing marketing activities or improving customer service. Track your progress regularly and adjust your strategies to make sure you stay on track.
Steps to achieve the goal:
- Set SMART goals (specific, measurable, achievable, relevant, time-bound)
- Break down goals into smaller milestones
- Monitor and review your progress regularly
Become an unmistakable brand
Build a reputation based on honesty and quality. Never cheat your customers and always keep your promises.
Practical example: You are a graphic designer and accept a new assignment. Instead of completing the job quickly and superficially, invest the necessary time to deliver an exceptional result. Your client will appreciate this and recommend you to others, which will lead to more jobs and an excellent reputation in the long term.
Strategies for branding:
- Always deliver above-average quality
- Be transparent and honest in your business practices
- Provide excellent customer service
Don't buy unnecessary bullshit
Avoid spending money on unnecessary things just to impress others. Invest your money wisely in your business and your personal development.
Practical example: You've just closed your first big deal and feel inclined to buy an expensive car to celebrate your success. Instead, invest the money in marketing or training to drive your business forward. These investments will bring more long-term returns than a short-term status symbol.
Tips for avoiding unnecessary expenditure:
- Create a budget and stick to it
- Prioritize investments that contribute directly to business growth
- When making larger expenditures, always ask yourself: “Do I really need this?”
The road to entrepreneurial success is paved with challenges and setbacks. These ten brutally honest business tips are designed to help you set realistic expectations and focus on the essential aspects of your business. Through hard work, self-discipline and constant development, you can create the basis for a sustainable and successful business. Stay motivated, be honest with yourself and pursue your goals with determination. Good luck on your entrepreneurial journey!
The article was created based on a video by Torben Platzer. Thanks for the video, Torben! The tips have helped me.
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