Our generation just faced a once-in-a-lifetime event – a deadly global pandemic and an international lockdown. Suffice to say that the only good that came out of this lockdown was perhaps the rapid rise in innovative business practices. All companies – big and small – had to adapt to a whole new world and a whole new consumer. Now, new entrepreneurs might just need new skills in order to thrive in the business world. Here are our top 10 recommendations
Decide, decide, decide
Pen down all the ideas you can think of – no matter how crazy they may sound. Once you have made a list, start the process of elimination. Focus on what is viable and realistically achievable. It is much better to focus completely on one venture, than spread yourself thin over ten
Get over the fear of failure
You are going to make mistakes. Accept that it is ok to stumble and make the wrong decision. Instead of being afraid of losing, focus on what you can learn from the situation. As Jerry Seinfeld once said, “Pain is just knowledge rushing in to fill up a gap”.
Keep your eye on the prize
Focus on your own goals. There are going to be multiple paths for you to follow when growing your own venture. Ultimately, you need to focus on what you want to achieve, and then act accordingly. Think about how different situations are going to play out and see if that is what you want.
Focus on solving a problem
Coming up with a completely new product and then magically discovering a viable market for it, is fantasy. There, I said it. Instead, focus on the kind of challenges (small or large) that you and your close ones face. What would you like to improve about a product or an experience? How would you like to do it? Why? Focus on iteratively developing a mediocre service or solving an unmet demand in a market niche. Developing a realistically viable product depends a lot on the demand you can get for it.
Don’t get stuck ‘starting up’
Action, action, action. Planning is great, but don’t just get stuck planning for a possibility. Instead, take the first step. Buy that domain, make that Instagram account, send that email. Don’t worry too much about planning because chances are that the reality is going to be different anyways.
Don’t waste time
Ultimately, this is the only life you’re going to have. Every second is unique, precious and non-refundable. Don’t be that person who grows to be an old man full of regrets. Plus, as Anna Kendrick says ‘You are stuck with you your entire life’, so you might as well make the most of it.
Celebrate by getting back to work
Congratulations! You just hit one of your milestones! That’s amazing! It is tempting to stop here and celebrate the moment, but remember you can always go further; and you can always achieve more. Celebrate your new victory by working towards the next one.
Focus on progressing, not competing
You’re always going to have competitors, regardless of what you do. So, instead of spending your time constantly comparing yourself against someone else, focus on improving yourself. Compete only with yourself.
Don’t be afraid to pivot
One of the biggest advantages that start ups have over established corporates is the ability to pivot and shift markets if need be. Be open towards new ideas, including adaptation. Camels will make it through this new world, not unicorns.
Stay kind
Always remember that we’re all just human beings. Don’t worry too much about a rude email or a declined partnership. Treat yourself and others with as much respect and integrity as possible, and good things will happen.
Opinions expressed by AsianBlurb contributors are their own.
Brendan Cox (born 08/29/2000) is an American teen serial entrepreneur who currently owns and runs various businesses. Specializing in graphic design and branding, Cox is one of the most successful entrepreneurs in his age group.
