Be Accountable
Growth is the collective effort of keeping records and measuring progress. Being accountable in business from the beginning makes growth easier to achieve in the long run.
While it is important to take stock at each milestone, it is important to keep records that make the milestones easier to measure and compare with others. Build history, track events and find patterns before taking stock so that progress can viewed in the right metrics.
Stock taking can be concretely done in six simple steps:
Take a break
As an entrepreneur, sometimes you should stop everything you are doing. Take care of yourself more. Doing this does not require a deep use of your pockets. You can carry out routine checks on your mental health besides your body. Pause and check that you're in good health.
After making sure you are doing great, you need to make sure you are making progress in your personal development. Ensure that you are reading from the right sources, meeting the right people and making the right connections. Make sure you are not light weight.
You would do yourself some good when you plan to do this regularly before you find yourself burning from within. This would help in making sure you do not try to stretch beyond your capabilities and measure progress wrongly.
Take a look within
The best place to search for answers first is from within. As an entrepreneur, you must have some measure of self check from within every day. While it is a good idea to set aside a time for meditation daily, it is important to carry our periodic self checks during the day.
To ensure I remain in good shape mentally and focus on the right things, while I set aside some time daily devoted to prayers, I also check myself every four hours, every day (even at night). If you have religious practice, go ahead with that but search yourself more often.
Having dedicated yourself to regular self checks, it's important to take notes regularly at these times. Those notes make the difference!
Write your story
Everyone loves to hear a great story but only few people ever bother to write theirs. As an entrepreneur, you must go beyond taking great headshots and writing great intros to writing your story. The truth is that every entrepreneur actively working towards goals makes progress more often than they imagined. When you choose to take stock of your business achievements, you would be impressed.
Your business achievements were made possible because you stayed focused on your goals. There is no other way such could have happened. While people often believe in luck, in reality, we all make efforts that attract the kinds of luck we get. As an entrepreneur, while you make yourself ready and achieve goals, endeavor to write your story. Someone out there in the world can get inspired by you.
Highlight your wins
When you meet people, the best way to present yourself as a winner is to take note of your goals and know them. Every day, take notes of your wins and categorize them in size. Setup a scale to measure them from the least to the greatest. Memorize your biggest wins.
Nobody wants to hear bad news from you so it's important to arm yourself with your big wins so that when people ask how your business is doing, you have good reports always. This habit would help more people get attracted to you at networking events.
Learn from setbacks
Everyone has setbacks but no one likes to share theirs. Always use a lesson from each of your setbacks. It's normal to fail at meeting certain targets or goals. As a matter of fact, you become stronger as an entrepreneur when you capitalize on your failures for your wins.
It's a known fact today that most Venture Capitalists prefer entrepreneurs who have failed enough before they focus on winning. They believe that these are the entrepreneurs who know the pain of losing well enough to work with their seed.
Always measure your losses. These would help you understand the true value of your wins.
Plan for next steps
Moving forward is easier when you win but it becomes really hard when you lose. During the year, if you made mistakes , you would have something to learn from. However, whether you win or lose at the end of the year, it is important to take next steps for the coming year.
Taking next steps with lessons learned from failure is richer than taking next steps with accolades from success. It's easier to know how you won after several failures. After being accountable, take next steps productively with every lesson learned.