How can you stay focused on your goals when facing setbacks in entrepreneurship?

In my view, working on self-awareness is the key here. While the vision and mission offer guidance in times of failure, your own self-awareness and cultivation of the right habits will ultimately steer you through the challenges.

I have found that a lot of entrepreneurs get vision and mission intertwined and they are two very different things. A vision is an overarching statement that gives you clarity and driving force behind your goals and strategy. What is missing from a vision most often is quantifiable measures of success, also missing is the frequency of revisiting the vision, it is not a one and done statement, it should be revisted at minimum once a year, if not quarterly. It is your what in your business not your how.

Start small, take the baby steps and build from there. In product development, start with an MVP (Minimum Viable Product) and focus on the learning outcomes. Ensure your goals are SMART, and develop them in a way that makes the process both enjoyable and challenging simultaneously.

When you have defined your vision (the what) the goals are the next step, the how. How will you achieve the vision? What actions do you need to take? What do you need to start doing? What do you need to stop doing? What is the date I will achieve this by? When these things are clear it allows you to plan backwards, set mini goals (milestones), and break work down into manageable action items. As entrepreneurs we often find we have a huge list of things to do, and most often none get done because it's too overwhelming or we focus on the things that are fun but aren't going to move us ahead (we've all made pretty things on Canva). What actions need to be done now, a week from now, a month from now. Create a map to reach the destination.

"I get knocked down, but I get up again, ain't no one gonna keep me down" We've all heard the song before, but do we live it? Do we believe it? Failing fast is my motto, it's an opportunity to go well that didn't work, how do I not repeat this. If we look at a failed launch, or an event that didn't go as planned there is always an opportunity. Was the messaging not clear? Was I in front of the wrong audience? Take the opportunity to unpack what didn't go well, and what could be changed for the future. Caution, don't change everything at once, you won't know what worked and what didn't, change things one step at a time, do split testing, etc.... You may have to "fail" a few times before you excel so you can get it right. That's okay!

Failure is inevitable, but how you respond to it and apply the lessons learned is what sets you apart. Maintain a laser-like focus on the key takeaways and aim to fail fast, implementing the lessons learned swiftly and effectively. The faster you fail, the quicker you will reach the doors of success.

If you struggle setting your vision, setting your goals, setting priorities, enlist the help of those that have gone before you, made the mistakes, and can assist you in not repeating them. You need to be open to feedback, have flexibility to adjust and shift, and not take things personally in business. A person once told me look at the facts not feelings, and it's true to live by when you are trying to grow your business. Just as valuable if not more than enlisting a coach, mentor, peer group, is to listen to your customers, when you know exactly who you are serving, they will clearly tell you what's working and what isn't. Never shut down receiving information on how to improve, what could be done differently, but most of all what worked!

In the tech industry, entrepreneurs often find solace and success by embracing a supportive network. Take Elon Musk, CEO of SpaceX and Tesla, who actively seeks advice from mentors and experts. His collaboration with mentors like Larry Page highlights the power of seeking guidance. Key takeaway: Building a robust support system fosters growth, creativity, and resilience, making the entrepreneurial journey less daunting. Choose mentors wisely, leverage diverse perspectives, and nurture relationships that align with your vision.

Take a pause, breathe, give yourself grace, rally and regroup. When all seems to be down, and that voice in your head is telling you that you aren't good enough, you should never have started a business, kick it to the curb. Take a hot minute to rest, give yourself space to process and create. Put your own oxygen mask on first. You want to love your business and it to be fun, if you don't pause it will become hard and soul crushing, and not fun. Don't lose the fun, remember why you started and the success moments that excited you.....if you don't have doubtful moments you aren't human, even the most successful people have them. Remember to celebrate every success regardless of how big or small, you did it!

Set Micro-Resolutions 🎯 Break big goals into small, daily wins. After each, reward yourself! This keeps motivation high and burnout low. Achieve, celebrate, recharge! 🎉 It's about progress, not just the big picture. Embrace the journey with joyful little milestones. 🛤️

Despite a year of setbacks in 2018, I was still determined to make my startup a success. What kept me going: • The thought of never having to work a 9-5 again • The belief that my hard work would eventually pay off • The support of my family and friends • My own stubbornness

Reflecting on my journey, I'd emphasize the power of adaptability. The landscape changes quickly, and the ability to pivot is key. I remember once, a product change that initially seemed minor ended up impacting customer preferences significantly. We had to adapt our approach swiftly. Also, never underestimate the small daily improvements. Over time, they accumulate into substantial growth. Whether it's a slight process tweak or a minor cost-saving measure, it all adds up. In my own experience, regularly reviewing operational efficiencies has often led to better margins.