On another note about success as an entrepreneur, the author of this article shares five principles for success as an entrepreneur.

http://www.huffingtonpost.com/john-bowen/the-entrepreneurs-5-pilla_b_14658850.html

The Entrepreneur’s 5 Pillars of Success
By John Bowen

As entrepreneurs, we know we must deliver tremendous value to our clients and our prospective clients. The more value we can give them, the more value we create for ourselves and our stakeholders. This is the enlightened self-interest of capitalism.

To do that, we have to be productive and be in control. For advice, I reached out to Craig Ballantyne, author of The Perfect Day Formula: How to Own the Day and Control Your Life. Ballantyne’s initial success in the field health and fitness—he created the popular home workout program Turbulence Training—lead to him becoming a productivity and success coach who now helps entrepreneurs of all stripes.

Through his efforts, he’s developed what he calls the 5 pillars of success, which he recently shared with me.

1. Plan ahead.
If you’re reacting all, or even some, of the time, you’ll struggle. The key is to be proactive and plot out the ideal future for you and your business. I know—it’s easier said than done for those of us who are constantly going and going. But the fact is, stepping back and engaging in preparation for what you want to come next is crucial to lasting and meaningful success.

What’s more, you don’t have to reinvent the wheel to become a better proactive planner. There are numerous resources to help you engage in long-term vision planning, and then smaller-dose resources that help you plot out 60 or 90 days of action steps to move you toward that vision. (Ballantyne recommends the approach spelled out in the book Mastering the Rockefeller Habits.)

2. Implement professional accountability.
Being held accountable for our commitments and actions is a great motivator to walk our talk. But frankly, accountability usually doesn’t really work if we look to our teams or our friends to hold our feet to the fire. The best approach is to enlist the help of a professional coach, trainer or mentor. They can give you expert advice about the key issues you’re trying to solve of course. But perhaps even more important, they’ll be brutally honest about what you’re doing right and wrong, and where you’re veering off your path—all so you can get back on track. “A friend or associate can help motivate you with their positivity, of course, but a coach or mentor is the one who will say to you ‘you’re making some mistakes—what can we do about that going forward?’,” says Ballantyne.

That said, not just any coach will do. For maximum impact, be sure to work only with someone who shares your values and ethics—someone who you “get” and who “gets” you. If you’re not aligned in some deep way with your coach, you ultimately will end up ignoring his advice and insights. But if you are, you can reasonably expect to accomplish in 2 or 3 years what might have taken you 4 or 5 years on your own.

3. Recruit positive social support.
Of course, we do need cheerleaders in our lives who pick us up on our worst days. This is where those friends and colleagues who will keep saying “Go for it! You can do it!” are so valuable. I’ve found mastermind groups that hold regular meetings and events to be particularly affirming and motivating, especially when they consist of people who are pursuing similar goals with the same amount of passion as me. But keep in mind that this social support can come virtually as well as from “in real life” friends. LinkedIn and Facebook groups and other online communities of like-minded people can be highly effective at providing motivational social support.

4. Give yourself meaningful incentives.
Whether it involved our companies, our health or anything else, few of us stick to our plans and visions if we don’t have something that incentivizes us. But the key is to make that incentive be deeply meaningful. An example from Ballantyne’s personal training days that he says kept people on target: I’m doing this for my kids, so I’ll be around in 20 years when the graduate college. “Going out and getting tickets to a football game, that’s a little bit of an incentive. That will keep you going for a bit, but that is not deeply meaningful to you,” he says. “What I’ve learned over time is that what really matters in life is the people that we spend the time with and the experiences that we have.”

5. Set a hard deadline for meeting a goal
Most of us don’t like having a deadline looming. But deadlines can be—and often are—very positive for entrepreneurs. It’s helpful to set a series of short deadlines because it’s relatively easy to tell ourselves that we can commit to something for 30, 60 or 90 days. When we feel burned out halfway through the process, we can quickly tell ourselves that we’re close enough to the deadline to keep pushing forward.

This article feature good life and business lessons for entrepreneurs. Entrepreneurship is hard work and requires sacrifice.

http://fortune.com/2017/02/22/life-of-a-startup-entrepreneur/

Never Count On Your Friends, And Other Harsh Realities I Tackled As An Entrepreneur
Ed Mitzen
Feb 23, 2017

The Entrepreneur Insiders network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question “What are some of the biggest misconceptions about startup life?” is written by Ed Mitzen, founder of Fingerpaint Marketing.

Being a startup entrepreneur definitely has its perks. You’re your own boss and you get to build something that’s truly meaningful to you and hopefully the consumers or clients you’re trying to attract. It’s great when things are going good, but the weight of responsibility and accountability can be too much bear when things turn south and it’s all on you. So here’s three harsh lessons I learned thus far:

Businesses don’t fail because they aren’t profitable. They fail because they run out of cash.

Cash is absolutely king when it comes to starting a business. You have to plan for slow times and unforeseen costs. There is nothing more stressful than not having enough cash coming in to pay your bills and staff. I’ve been there. It’s agonizing and can take your energy away from growing your company.

When we were starting Fingerpaint, there was a period early on when we had our largest client pull back their spend due to unforeseen issues. We made the decision to not layoff staff in hopes it would instill loyalty and galvanize everyone to find new clients. While it did that, we were literally two weeks away from defaulting on our financial obligations and closing the company. There was a period of about three months when I didn’t sleep and had health issues due to the crushing pressure. Fortunately, business turned around just in time and we pulled ourselves out of the abyss, but the lessons I learned in the beginning related to cash flow will never be forgotten.

If you think you will be able to take vacations and holidays like you did when you worked for someone else, forget it.

There are no days off in start-up life. You will be working around the clock just to survive. I’ve been in our office on Thanksgiving morning every year for the past 9 years, because to me, that morning is just another Thursday. While I’ve never missed a Thanksgiving celebration with my family, early on it was a struggle to “be present” when I was constantly thinking about surviving as an entrepreneur.

With all the companies I have helped to start, it was at least three years in before I could truly relax on vacation. Early on, you are always on. Emails, texts, voicemails and conference calls are a vacation reality. Several years ago we had an opportunity to earn some work at McDonald’s. Yes, that McDonald’s. The pitch was during my vacation, so I took two days in the middle of my vacation to make the meeting to try and win the business. We didn’t get the work (we came close), but if I had to do it again, I still would have made the decision to leave my vacation for a few days. That type of “do what it takes” attitude while you are taking a break is imperative for keeping your business alive in the start-up days.

Many people assume that their friends and past business contacts will be lined up to help with their start-ups. That’s rarely the case.

This headline may give an impression that people are heartless jerks. That’s not my point here. When you tell your connections that you are starting your own company, the typical response is “Good for you! I’m so jealous. I wish I could do that,” shortly followed by “Please let me know if there is anything I can do to help.”

The reality is, most people aren’t in a position to be helpful in growing your business. Either they don’t have the final say into a buying decision, or they have other close connections that already have their business, which they aren’t willing to disrupt. It doesn’t mean they are bad people. They just can’t help in ways you were hoping they could.

Be careful not to over rely on friends and family to help grow your business. They have their own challenges in their work life and it isn’t their job to help grow your company. While they will be with you in spirit, it can be a lonely road in the beginning when you start your business. Lean on friends and family for emotional support and encouragement, but don’t expect to have them help in a tangible financial way.

I thought that this entrepreneur was amazing!

http://www.howwemadeitinafrica.com/tapping-nairobis-growing-fitness-trend/56899/

Tapping into Nairobi’s growing fitness trend

By Nelly Murungi on ‘5 December 2016’

Impressive economic growth, rapid urbanisation and the growing influence of western culture and diets have seen a growing number of fitness centers being set up in Kenya in recent years.

This trend, coupled with experience as an athlete in her formative years, drove Saloni Kantaria to quit her legal practice and open Reform Cycling and Strength Studio this year.

“In 2013 I just started to notice the city was changing very, very quickly,” says Kantaria. “Lots of things were going on. New concepts were opening up. Lots of franchise hotels were starting to enter into the market. There was more optimism among people in Nairobi about the economy. So I noticed obviously nobody was doing anything properly in the fitness space.”

In January this year, Kantaria opened her studio. She now runs it from Dubai, where she is based.

Reform occupies 260m2 of space in Nairobi’s upmarket Westlands suburb. Kantaria says that the smaller space was deliberate: it limits distraction, giving people maximum value from their workouts.

To take a class, customers buy ‘Reform credits’ priced from KSh1,500 (US$15), with one credit being equivalent to one class. On average, the studio serves 600 customers per month.

Evolving with the trends

As clients began to come in, Kantaria noticed that most of them were women. She explains, “Women in particular are getting very, very into fitness, exercising, so if you look at the clients we have at Reform, for every two to three women there’s one man.”

Another thing she discovered was that teenagers were beginning to take fitness more seriously and there was an emerging trend of families working out together, with parents bringing their children with them to the sessions. So the studio now allows customers to link their accounts with their parents, spouses and siblings.

Kantaria says that she has to keep introducing activities and even structure to her sessions to incorporate the changing dynamics of her clients. Once a month, Reform takes work outside the studio, by partnering with outdoor restaurants, where customers work out before eating brunch.

Tapping into a larger market

Over the years, corporates have begun to invest in the wellness of their employees, providing an opportunity for Reform to reach out to them to pay for classes for their staff. Reform provides discounted packages for companies and have a few in the fold.

Kantaria says that expats, business travelers and the nearby Peponi House Preparatory School have shown interest in the studio. They are also considering working with sports teams by offering them a training studio.

Integrating technology into workouts

With indoor cycling having taken off in Nairobi, Kantaria had to find a way to set Reform apart. In addition to offering new classes, Reform has incorporated technology into its cardio-focused classes.

Customers book online before they go for the classes and each customer has an online account, making it easier to gather customer data to aid in decision-making and the development of new products. This also provides an avenue for the studio to monitor performance and help tailor workouts that suit customer needs.

After class is over, each client receives a summary email of their personal performance data. This data is also stored on online accounts where customers and instructors can monitor performance.

The studio would like to expand to more cities across east Africa and create a community of cyclists through cycling events. On how she manages to run the studio from Dubai, Kantaria says that she relies on online systems that allow her to monitor Reform remotely. She also encourages open communication channels with customers.

So far the studio has grown mainly through referrals – Reform incentivises customers to bring in new members.

This article summarizes a few excellent points about what makes an entrepreneur successful. Entrepreneurship involves more than just the business for the entrepreneur.

http://321goproject.com/10-characteristics-of-entrepreneurs-who-are-going-to-crush-2017/

In today’s world, it’s never been easier to become an entrepreneur, but it’s also never been more difficult to become really successful as an entrepreneur.

It’s almost envogue to leave your corporate job and start your own thing. That’s all fine and well until you learn that it takes some serious mojo to be a “for real” entrepreneur.

Of course all entrepreneurs are different but there are certain characteristics ingrained and evident in the ones who lead the pack.

Here are 10 things, in our opinion, that these leaders have in spades over all the rest:
1.They plan every day in advance. They don’t let their days control them, but they control their days. The first part of their morning (or the last part of the day prior) is spent on what the day is going to hold. It’s the difference between being proactive and reactive. They spend a few minutes at the start of every day, thinking and planning. They know what they want to accomplish, and they make it happen.
2.They give priority to their health. Working out and eating right is just a given. It’s not an option. Even when they are busy, they take care of their body. Sure, they may have cheat meals, but on the whole, they fuel their bodies with good stuff.
3.They are constantly seeking to serve. They do what they do because they want to see others succeed. Focusing on your own success is a surefire way to no success at all. They go through their life trying to find ways to make other’s lives better and they use their business as a platform to make this happen on a large scale.
4.They have clear and actionable goals in place. They set off on the road trip of their business with a map in hand. They know where they are headed, what they want to accomplish, and have highlighted the stops they want to see along the way. Goal setting is important to them because it provides clear direction.
5.They take calculated risks. In order to be a successful entrepreneur, you absolutely have to take risks. But you don’t do something just because you saw someone else have a little success with it in a Facebook group. You do your own research and homework, and have a plan for implementation of new things. And, then if it’s not working after a reasonable amount of time (90 days), you let it go and learn from the “mistake”.
6.They make their family a priority. Even though work may be busy, they know their priorities and family is one of them. It’s too easy to let too much time go by without being focused on what’s important. The successful ones know this and make regular investments into their family bank accounts.
7.They are aware of their own strengths and weaknesses. We all are good at some things and not so great at others. The key is knowing and admitting where we could use help. No man/woman is an island, so no one can do it effectively alone. Those who surround themselves with others where they are weak are the ones who will see the greatest progress this year.
8.They don’t blame others when things don’t go as planned. Taking responsibility is a beautiful, but sometimes hard, thing. Those who recognize the fact that if their business isn’t where they want it, know that the responsibility lies on them because the buck starts and stops right there in their own person. And, on the flip side, if their business is successful, other people are given the credit they deserve. This one characteristic alone of taking responsibility could make all the difference between the 5% of really successful entrepreneurs and all the rest.
9.They evaluate and make adjustments after every day. Reflection is built into what they do every day. They course correct early and often. They look back on what they are grateful for every day, knowing that the best leaders cultivate a heart of gratitude. They make adjustments for the next day based on what went well and what could’ve been improved.
10.They know what they don’t know. When given tools that they don’t know how to use, they invest time in learning (and not expecting other people to do it for them). They are insatiable learners, and have no problem learning from their own mistakes. Failure is welcome because it means growth for them.

It’s not an easy job being an entrepreneur. If you’ve done it for any length of time, this is not news to you. Certainly not all will crush it in their businesses in 2017. Many will go out of business. Many will sell for far less than their business could have been worth. The vast majority will be ok with being “ok” at many of the above, then get to the end of 2017 wishing things were different (again).

How are you doing with this list? Today would be a good day to start working on those things you know could use improvement so that the end of 2017 isn’t met with regret.

A year from now you will wish you had started today. – Karen Lamb