How To Emerge As A Successful New Entrepreneur During A Global Pandemic

 

 

Across the globe, nations are reopening the economies after the initial wave of shutdowns to mitigate the spread of COVID-19. The pandemic has been a “black swan” disruption event for global economies - forcing business owners to reevaluate how they manage, lead, and drive change in a crisis.

As businesses slowly begin to reopen their doors and start welcoming customers back, a new class of pandemic-hardened entrepreneurs is emerging from the dust. As some business owners focus on how to help their firms and companies recover from a market-shifting shutdown, real entrepreneurs are putting in the time to develop the skills necessary to emerge more successful and competitive than ever.

The Pandemic-Led Entrepreneurial Advantage

Common sense would try and tell you that events such as a global pandemic would be a death sentence for most entrepreneurs. Yet history has shown us that creative and crafty entrepreneurs can pivot and adapt to the winds of change even during the worst economic moments.

The pandemic has already altered the market landscape forever. But for those who have been paying close attention to consumer trends, the landscape has already been in flux. In business operations, three significant elements have been driving businesses forward:

●     Seismic Shifts in Market Globalization

●     The Increase Of Knowledge Work

●     Increased Technology Solutions For Automation

Simultaneously, consumer demographic behaviors are also changing, as Millenials and Gen Z continues to emerge into yet another financial upheaval in their history. As an entrepreneur and business owner, these consumers will be looking for companies to support that have their interests at heart. 

With these ideas in mind, here are four tips for emerging from the pandemic as an entrepreneur with a competitive edge:

Locate & Dominate A New Market

The shutdown of the entire economy has thrown the whole system into disarray. Companies that were thriving on December 31, 2019, may no longer hold influence in September 2020. Many of those market leaders may no longer exist, as the virus has quickly snuffed out their business.

As an entrepreneur, you have a unique opportunity to rise in the place of companies or brands that have lost their control on a particular market. See a need that others are failing to meet? Step up and create a solution, and you will quickly take your place as an industry leader in no time.

Increase Your Brand’s Reputation

When it comes to successful branding, there is always a bit of mystery involved in going viral. However, the pandemic economy has created the perfect conditions for rising above the noise of other brands struggling to adapt.

Take the time to build your brand’s reputation during this short period of pause, and when the world reemerges, you will find yourself ready to invite new customers into your business. Start creating connections with clients now, and you can watch your brand recognition soar post-pandemic.

Introduce A New Technological Solution

Have you had a great idea in your incubator, but no chance to introduce it to the world? The pandemic has allowed many entrepreneurs an empty stage for introducing their next great technological solution. Disruptions such as global pandemics can help bring to light solutions to problems that have only recently arrived. Consider the popularity of ride-sharing-turned-food-delivery.

By merely switching services to adapt to the changing market need, an entrepreneur can create a winning product where no opportunity was before. Get creative - the most world-changing technological advances were birthed from economic shutdowns!

Boost Customer Loyalty

As the market changes, one element remains the same: customer loyalty and appreciation hold an incredibly influential business dynamic. As unrest and public health continue to fill 24/7 news headlines, consumers are looking for ways to find hope in a chaotic world.

As an entrepreneur, you have a unique opportunity to bring influence to the consumer marketplace with ideas that not only generate needed products and services but positively engage with social issues. Consumers who see that a business or brand is taking a stand for the greater good are willing to pay a higher premium to be aligned with those services.

A great way to find an edge in the pandemic economy is to invest in customer loyalty through creative initiatives and community engagement. Find unique opportunities to serve those who are helping others, and invite your customers to join you for the journey. You will soon see the rewards that come from being an entrepreneur concerned with more than the bottom line.

Become A Post-Pandemic Entrepreneur

Many entrepreneurs will be slow to start a new venture or increase their current business operations during a difficult economic moment. However, those willing to boldly step out in new ways and grasp opportunities as they arise will find a post-pandemic market ripe for harvest.

The future of the global economy is as unknown as the coronavirus itself. Nobody is quite sure what business methods of the past will fade with the virus, and what innovations will lead the way in the new market. For those who are ready to turn difficulty into opportunity, the changes wrought by the COVID-19 pandemic will provide limitless chances for entrepreneurial success. Will you rise to the occasion?

Get started! Register a business online or get incorporated in Canada!

Coping with Failure

There are unlimited mantras, quotes, and stories dedicated to coping with failure. This is perhaps because it is a well-accepted fact that failure is simply a part of life. Starting and running a business is often subject to the same outcome. In fact, failure is often a welcomed disposition in the discourse of entrepreneurship because it helps to shape and reshape a successful business.  Failure should never be a deterrent from pursuing your business goals. Rather, it should be embraced and perhaps anticipated. In this article, we’ll explore coping with failure in business and using it as a sword rather than a shield.

 

Business failure can span anywhere from an unsuccessful marketing or promotional method to the complete termination. Regardless of what failure looks like in this particular context, it has an impact on the psyche of the self-employed individual who started or took over the business. 

According to Bruno, McQuarrie, and Torgrimson in an article published in Journal of Business Venturing, the self-employed appear to have an emotional relationship with their business.  More specifically, the motivation for managing one’s business spans beyond personal profit, into loyalty to a product, loyalty to a market and customers, and the need to prove one’s self. When you consider these elements of this emotional relationship, it becomes clear, first, why failure elicits such a huge response in business and second, why the way in which you recover is much more important than the failure itself.  So, how do you cope? How do you recover?

1. Learn

                       

One of the best ways to cope with failure in business is to make a conscious decision to learn from it. In a 2003 article published in Academy of Management Review, Dean Shepherd suggests, “learning from business failure occurs when you can use the information available about why the business failed to revise your existing knowledge of how to manage your own business effectively.”  This requires the ability to stare failure in the face and accept that you are still a student even when you run the business. It further requires an ability to “revise assumptions about the consequences” of previous decisions, actions, and omissions.  When you can approach your failure in an evaluative manner, you are more likely to have a successful outcome.

2.  Anticipate and Rehearse

“Don’t make the same mistake twice”.  This warning cannot be echoed loud enough in business. When you’ve done something wrong or insufficient a first time it should prompt you to be more careful the second time around. In other words, you should anticipate an error; rehearse with that error in mind and control for it.  Many entrepreneurs have had to test and retest prototypes continuously to ensure it is failure proof.  Sometimes this means getting out of your comfort zone and being completely transparent.  The more you dissect your product or service piece by piece and ask yourself “how can this fail”, the closer you get towards a product or service you can proudly stand behind in success. This will not make you failure proof, but it can certainly minimize the outcome of same and teach you more about yourself as a business owner.

3.  Think Positively

One of the immediate responses to failure is negativity. A close second is doubt. These two devils can drive your business into hell if you allow them to manifest and percolate.  When you’ve come face to face with failure, take a few minutes to cry and scream if you have to. But once those minutes have expired, commend yourself for your effort, feed your mind with positive affirmations, and most importantly, saturate yourself with acceptance. Accept that the one thing that makes you most like any other business is your susceptibility to failure. Once you’ve acknowledged that, immediately begin rebuilding, modifying, or changing your direction.

4. Start Again

Some of the biggest companies that exist today have failed hundreds of times before getting their big breaks; Apple and Disney are prime examples. Failing just might be the answered prayer you didn’t know you need. It can challenge you into success. Don’t pressure yourself with deadlines if your product isn’t ready. Take your time with your craft. If you love it, you’ll be tender and starting over will only allow you to become more intimate with your business. Embrace a fresh start.

Failure is a part of life and that life doesn’t stop when you acquire a business. Instead, it becomes much greater. Consequently, your failures will increase, but so will your successes.

Getting Acquainted With the Habits of Successful Entrepreneurs

Psychologists have proven, through continuous research, that behaviour can be learned through observation and mirroring. They also purport that it takes 21 days of consistency for an individual to make or break a habit. Why is this important to entrepreneurship? Well, your success as an entrepreneur can lie heavily on the monitoring, observing, and putting into action some of the habits, techniques and practices that are common among entrepreneurs and small business owners who have propelled their careers beyond the confines of “a single start up”. Many entrepreneurs credit their success to modeled behaviour and plans. Consequently, we have compiled a list of some of the habits of successful entrepreneurs to help steer you in the right direction and give you a head start on your return on investment.

Watch the company you keep.

If you want to attain entrepreneurial success, you should find yourself in the company of those who have gone before you and have excelled. You can learn a lot from people who are smarter than you. Don’t let their knowledge dissuade or intimidate you. They, too, once had a startup (in many cases, of humble beginnings). Once you’ve selected the individuals you want in your circle, refrain from suffocating yourself with business and business-related tasks and conversation. 

To elaborate, refrain from meeting these  “role models” in networking and business settings. Instead, spend time with them at sporting events, barbeques, or even light coffee. If you surround yourself with successful business owners beyond the context of business, you create the opportunity to learn how they live their lives on a day-to-day basis. Conclusively, if you intend on starting an accounting firm, make sure accountants make up a percentage of your “friends group”. 

Be intentional about your day-to-day routine.

Successful entrepreneurs rarely complain about lacking enough hours in the day. They recognize that everyone is allotted the same time and it is the use of that time that is transformative. If you are a morning person, wake up early to capitalize on your hours of productivity. That doesn’t mean waking up at 7 a.m. It means really taking advantage of the time you complete your best work. That may translate into a 4:00 a.m. call time. If you want to maximize your daily productivity potential, you must take your body’s cues seriously. Recognize that work is just as important as rest and when there’s an imbalance of these two things, you and your business are bound to suffer. Further, incorporate time for exercise, personal time, and quality time with family and friends. Once you’ve settled on your day-to-day routine, be consistent.

Make use of the short-list.

When you own a business, your to-do list is often eternal. The list itself might discourage you from completing any work at all. In other instances, it can be so demanding that you seldom complete tasks in a reasonable manner.  Successful entrepreneurs report condensing tasks to two to three priority items each day. As a result, in the likely event that you do not get through your entire list, your most important tasks are completed daily. This technique keeps you accountable, increases task completion, and provides an overall picture for your efficiency. Additionally, short-lists function as an evaluation tool on how to run and grow your business.

Aim high.

Finally, one of the most common emotional traits that persist among entrepreneurs is doubt. Will this work? What if I fail? Is this the right way? Will they buy it? Should I do this? The second-guessing disease is correlated with goal setting. The more you second-guess yourself, the smaller the goals. Successful entrepreneurs aim high, no matter how unsure they are. Why? Because starting a business is a risk and that’s where the magic happens in many instances. Will the outcome always be favourable? Probably not, but at least you can edit and go back to the drawing board when something does not work out.

It is better to aim high and land somewhere at the top than to aim low and hit the mark.

The Importance of Market Research

Most entrepreneurs are inexperienced and ignorant to the discourse of business when they first embark on the journey of managing a company.  It’s not a bad thing, but it is a fact worth acknowledging. That being said, a vast majority of starting a business is education and in many instances, that education is informal and self taught. One of the greatest challenges of an independent business education is the experimental learning of trial and error.  Some aspects of business will only make sense once you’ve tried it a few times and realize what is missing. Other aspects will come quickly and immediately and will pose no further threat to your business.

The pedagogical journey of entrepreneurship consists of a series of fundamental factors that should be considered and practiced for any serious contention for a successful business. One of these factors is market research; how well will your product or service perform in the market? Often overlooked due to costs, time, and significance, market research can make or break any business idea.  We want your business venture to start off in a way that will encourage growth. As such, we’ve outlined our top three reasons why market research should be on your priority list.

Market research reaffirms your business idea

When you have a concept or idea and you wish to convert it into a product or service, market research helps you understand who your target audience is, whether there is indeed a demand or interest in your product, and ultimately your business’ success potential. For example, if you anticipate your target audience to be young adults between the ages of 18 and 27, but upon reviewing the data from your surveys and focus groups you notice that middle-aged persons express a greater benefit from the product, you may need to redesign your business model taking into account middle-aged individuals.  On the other hand, you might also find that there is absolutely no interest whatsoever and your investment may not be worth it. Market research is simply a strong editing tool that can refine your business to properly meet the needs of your consumers.

Knowing your numbers

Numbers are vital to a business. How much will you pay? How much will your consumers pay?  Are you competitive enough? Market research assists in money management. If you understand who your ideal consumer is, you can further assess how much they are willing to pay for your product. Additionally, it will gauge how much money you need to invest to obtain a beneficial return. Research will highlight the monetary relationship between the business and the consumer. If your intended audience is women, but they are from low-income brackets, you must consider the likelihood that they will impact your business financially, particularly in a way that will encourage steady growth. 

Further, market research, in the form of business-to-business comparison, can help you determine whether your prices are too high or too low and how competitive you will be among your entrepreneurial peers. This research can often be obtained by simple web searches and do not require much time. It is an easy way to gain some perspective on your business.

 Business and Market Predictability

Market research can reveal how your business will perform in its initial stages as well as the future. Granted, there are a myriad of factors that can cause predictions to deviate, it is still a reliable tool for estimates on what to expect. The research can guide contingency plans and business projections.

Whether you decide to limit your research to the web or other minimal resources or you choose to spend thousands of dollars in quantitative and qualitative data collection, market research will have a positive effective on your entrepreneurial pursuits. 

How to cope when you’re on double duty: Starting a business while working full time

When you decide to start a business, you usually aren’t sitting in the lap of luxury with unlimited free time, resources, and countless windows of opportunity. Instead, most new business owners are confronted with their business ideas amidst the stereotypical “9 to 5”.  Further, some start-up ideas do not materialize beyond the conception phase due to the intimidating challenge of juggling a new business while working full time. Despite this disposition, entrepreneurs have been and continue to nurture successful businesses in this way. So, what’s the big secret? The truth is really no secret at all. Managing a start-up while working a full time job does not have to make you a victim of entrepreneurial defeat. Our small guide below is designed to help you thrive and succeed at this balancing act.

Time Management

When you dedicate an average of eight hours per day to a full time job, it is inevitable that time is going to be one of your greatest competitors for success. Once you recognize and accept this fact, you will be well on your way. Part of effective time management is planning. Assess your current schedule and determine how much of your time is “wasted”.  For example, if you watch three hours of television after work, consider at least two out of those three hours disposable. Further, evaluate how you spend your weekends. The weekends consist of two full “non-work” days, how do you use them? 

Once you have mapped out your current weekly schedule, create a new one inserting small-business/start-up time in all your disposable time slots. Creating a schedule and planning how you will use your time will help you track your progress and give you a big picture on how you are allocating your time in favour of growing a lucrative business. You can also incorporate lists to ensure that each day you are completing a specific task. If you are fortunate enough to work at a company that has liberal policies on working other jobs simultaneously, take advantage of that time without jeopardizing your present employment. Alternatively, if your job opposes integration of this kind, capitalize on your lunch breaks. This does not mean that you should skip lunch however, but take time to eat and time to work. If you manage your time correctly you will still be able to do the more relaxing activities you enjoy.

Licensing and Registration

Obtain all the necessary license and registration at the start of your business. It is particularly important to engage in this process at the beginning stages of your start-up because in some jurisdictions it can be time-consuming. Additionally, you may need sufficient time to obtain necessary documents and tackle unforeseeable circumstances that can or may hinder your project. The last thing you need during this process is a setback.  That is not to say they will not happen, but you have a great chance of minimizing them by acting sooner rather than later.

Money Management

Most start-ups and small businesses are individually funded (out-of-pocket). Make a budget and monitor the distribution of funds. Determine what percentage, if any, of your full-time salary can be redirected into your business.  Further, ensure that your business expenses do not compromise your personal expenses. If you are really pressed for funding you may have to make smart but effective lifestyle changes. For example, bring a lunch and limit the amount of coffee purchases you make in a day or week. Go to the movies once a month and substitute your frequent social outings for a night in. Reassign those funds to your business. These changes are not about ridding your life of its social pride, but rather, cutting out what it beyond necessary objectively.

Don’t think too big, too quickly

Starting a business can be exciting, but do not allow that excitement to cloud your judgment.  Take your time and understand your business. Do not waste time worrying about office space and spending frivolously on products and services that are not fundamental to your start-up. Take meetings at coffee shops if you have to. Schedule phone and Skype calls where necessary. If you become too caught up in materializing your ideal business at the beginning of the process, you run the risk of losing money and, worse, losing your business.

Finally, enjoy the process. It is easy to get caught up in what is sometimes a dense world of business. Do not lose sight of yourself and your vision. Take regular breaks just like any other job and laugh a little. You will make mistakes, but do not fret on them for too long. Cry if you have to and get back in position remembering that failure is a natural progression of success.

Start-Up Mistakes to Lookout For!

Let's face it, every entrepreneur's first start-up is a fish-out-of-water- experience; new territories usually are. One of the best ways to tackle the unfamiliarity of business ownership however is to learn from those who have gone before you. Most entrepreneurs have a laundry list of things they've had to do, and redo multiple times before getting things right. Fortunately, we've got our laundry list of mistakes you should avoid to make your startup success attainable.

A Saturated Market

One of the more challenging tasks of being an entrepreneur is knowing how to reason with yourself and be honest in those responses. This is particularly true at the conception stage of your startup. You come up with an idea for your business, you believe in it, and you start investing time, energy, and resources to make your vision materialize. Finally, when you launch, you realize that the market is too saturated and your attempt to transcend your peers failed. Just like that, your business dissolves. Unfortunately, this is a common mistake.

When you have an idea for a startup, it is imperative to implement a market research component that facilitates your place in the designated industry. If you haven't invented something it is more than likely the case that your business idea already exists. Know who your competitors are, how the market is performing, and whether it makes sense to invest in a business idea that has seen one too many launches.

Launching too quickly or too slowly

 

Having a new business can be exciting and that excitement can persuade you to place your product or service in the hands of consumers as fast as possible. Prematurely launching your business can kill it. There is nothing quite like introducing an ill-prepared product to a consumer. On the other hand, it is equally detrimental if you have a successful product and you are unable to keep up with the demand for it. Take some time and nurture your idea to control for foreseeable outcomes like these.

It is also possible to launch too slowly. Some startups require a large amount of preparation time. Research, testing, and funding are among the primary factors that can delay a launch. However, if you are taking too long to make your business accessible, perhaps it has no place in the market. Otherwise, you're hurting your business if you withhold something that is on demand and is necessary to your consumers. They may stop waiting. If you are slow to launch, there should be substantial reason.

Poor Investment Strategy

Every business wants to grow, but that growth is heavily predicated on how money is managed. Your business should be your investment manager's priority. Monitor the monetary flow and forecast of your startup to effectively regulate where you can make more money and where you should pull back a bit. Further, investments should yield growth and this should not be interpreted as investing solely in the interest of shareholders. Investments should also be made in favour of consumers; they make the business. “If you invest in your users, your investors will benefit regardless”.

No Target Audience

It's unfortunate that some startups fail due to the lack of a clear and definitive consumer. Knowing who you are selling your product to is instrumental in startup success. A designated target audience helps drive marketing and promotion strategies, product development, and sale projection. When you have a target audience you are aware of exactly where to find your market and how to control it and be competitive. On the other hand, failure to determine a specific group to which to market your product can result in financial loss and over-investment.

A Divided Team

Lastly, if your team does not share your vision, you are doing a disservice to your business. Hire like-minded people who share your values, but differ in creativity and skill; this will diversify and enhance your business potential.

Starting a business can be intimidating, but minimizing your mistakes can make the ride a little less bumpy and a little more successful. 

The Benefits Of A Work Journal

The classic to-do list can be useful tool to facilitate productivity, but it’s not without shortcomings.

For instance, assignments on your list may involve a series of interconnected tasks, or require multiple steps that you can’t easily describe in list format. Sometimes in the midst of carrying out one duty, you’ll identify other issues that require attention, but which you don’t necessarily have time for right now. Instead of crossing out items on your to-do list, you may find yourself modifying and even extending it as the hours march on.

For these reasons, you may find it useful to keep a work journal, to either supplement or substitute for your to-do list.

Self-awareness

By simply taking the time to write down your goals, lessons, and experiences you draw from each day, and any feelings or thoughts you have about them, you afford yourself a chance to troubleshoot, and engage your self-awareness and critical thinking skills.

Have you been avoiding, procrastinating over, or struggling with a task? If so, your difficulties may owe to an emotional obstacle, such as the fear of failure, an unwillingness to check your ego and ask for help, or confusion over the next steps in the process. Journalling forces you to put these barriers to success into words.

Paper or digital?

Of course, this is a matter of personal preference. A digital version offers the advantages of searchability and easy modifiability. A paper (book) version helps to reduce your daily screen time, and you won’t risk losing your journal entries due to a computer malfunction or virus.

Regardless of the medium you choose for your journal, organization is key: each entry should be clearly dated and easily retrievable. You may also benefit from headlining each entry with two or three main themes, for purposes of future reference. For example, “Order confirmation for Mrs. Jafari; keyboard shortcuts”.

Honesty and confidentiality

Like a personal diary, your work journal should be a safe forum for you to express thoughts and concerns related to your job, including the state of interpersonal relationships at the workplace. For this reason, confidentiality is important.

If you believe there’s a risk that another person will discover your journal, and that this discovery may affect your relationships with colleagues or superiors, you’ll censor yourself. The more extensively you engage in self-censorship, the less meaningful your journalling will be to you, especially as the passage of time places distance between your present state of mind and the content of older entries.

Learning from experience

By writing down observations about your own performance, new information you encounter, and lessons you learn from day to day, you’ll stand a better chance of recalling those items when you need them. For example, if an IT technologist at the office shows you a nifty trick for accessing files on a database more quickly, your journal is a great place to record the steps involved. Journalling can also help you learn from your mistakes by noting both the specific details of an error, and the reason(s) why it occurred.

Consider making two daily entries.

A morning entry allows you to envision the day ahead, and draw up your game plan. A second, follow-up entry in the evening allows you to handicap your performance and hold yourself accountable.

Did you accomplish all of the goals you had set for that day? If not, why not? Did you exceed your own expectations? If so, what were the keys to your success?

Which Comes First: Happiness Or Success?

We all know the paradox of the chicken and the egg—historically, one must have preceded the other. Drawing on Darwin’s theory of evolution, we can surmise that the familiar chicken must have evolved in phases, first from reptile to bird through natural selection, and then from wild pheasant to domesticated fowl through artificial selection. So the first “chicken” probably hatched from an egg laid by a pheasant-like animal that wasn’t quite a chicken. But then, what distinguishes a chicken from a not-quite-chicken? It’s all very complicated.

Happiness and success are also strongly correlated, and at first glance, the question of which occurs first would seem to pose a similar intellectual challenge. In fact, much academic literature supports the presence of a causal relationship that may seem counter-intuitive: happiness promotes success, but success doesn’t necessarily promote happiness.

Why is this? And what are the implications of this relationship for the way we organize our personal and professional lives?

The evidence

 

In his bestseller The Happiness Advantage and in his popular 2011 TED Talk, positive psychology expert Shawn Achor draws on his own extensive research—including case studies at Harvard University and in the private sector—to argue that happiness is a catalyst for success in both academic and professional endeavours. He also alludes to a growing body of knowledge in the fields of neuroscience and positive psychology that buttress this conclusion.

An explanation Achor offers for the failure of measurable success to consistently induce happiness, is the problem of moving goalposts. Once we reach a particular goal, we tend to immediately adopt a more ambitious one. While goal-setting and ambition are generally desirable traits, aspirations can become unhealthy if we view them from a glass-half-empty perspective, don’t take time to acknowledge our achievements, and constantly berate ourselves over a perceived failure to attain “real” success. To paraphrase Achor, by framing happiness as a product of success, we indefinitely push both happiness and success beyond our cognitive horizon. And in turn, the absence of life satisfaction here and now can actually hamper our future prospects.

Tips for boosting your day-to-day positivity

•  Show gratitude to the people who contribute meaningfully to your life, including colleagues, friends, and loved ones. Reflect on your accomplishments with pride, and  take time (3-5 minutes) to actively appreciate the positives. Try making a daily journal entry of three things for which you are grateful. Over time, this exercise will train your mind to seek out opportunities rather than dwell on hazards.

•  Keep calm and manage your schedule so as to mitigate stress. Chip away at long-term projects incrementally to avoid procrastination-induced deadline anxiety. Focus on conserving energy throughout the workday, so that you keep some in reserve for recreational activities, quality time with friends and family, and hobbies while you’re away from the office. When stress shows up (and it occasionally will), embrace the challenge and think about how great you’ll feel once you’ve conquered it.

•  Be kind to others. This is a win-win: agents and recipients of compassion both tend to experience higher levels of life satisfaction. Random acts of kindness, which could be as simple as sending a brief e-mail to show appreciation for the efforts of an employee or co-worker, can make an enduring beneficial impact on the culture of your workplace.

•  Clear your head. Sometimes in order to refocus, we need to temporarily un-focus. If you experience a feeling of stagnation at work, try stepping away for a while and enjoying a pleasurable activity. Upon your return, you may be pleasantly surprised by the ease with which your work flows, and by the new insights and creativity your mind generates.

•  Eat healthy, balanced meals and allocate enough time for them that you avoid constantly “eating on the run”. Feelings of burnout, irritability, and energy lapses are often at least partly attributable to inadequate nutrition.

Conquer the Fear of Saying No

If you ask a person on the street which word is likelier to contribute to personal and professional success—yes or no—that individual will probably choose the former. But as many leaders in the world of business and politics will tell you, learning to say no can be every bit as important as knowing how to say yes. The reasons for this are largely intuitive: by turning down some engagements, you free up time, energy, and mental focus for the endeavours you find most inspiring.

However, many of us feel distinctly uncomfortable with saying no, often because we worry that doing so may cause offence or otherwise lead to negative social consequences. Insofar as it compels us to take on more commitments than we can handle at any one time, this anxiety can hamper our pursuit of the professional and life goals that are most important to us.

Establish and respect your own boundaries.

Your work is surely a high priority for you—but so are your health, quality time with friends and family, leisure time, and other hobbies or avocations. Think of your lifestyle as analogous to a meal: nearly everyone would prefer a flavourful medley of high-quality, healthy ingredients to a monochromatic, humdrum dish of little nutritional value. Likewise, if you devote all of your time to a single work-related project, you probably won’t enjoy a wholesome existence.

Once you set parameters like the number of hours you’re willing to devote to a new project, and commitment versus expected benefit, you’ll find it easier to distinguish the undertakings that really interest you from the also-rans.

Be honest with yourself.

Before you dive headfirst into any significant assignment, ask yourself the following questions:

1)  Am I genuinely passionate about this project?

2)  Five years from now, will I look back on my efforts with pride?

3)  Is it consistent with my values?

4)  Why is it important to me to take this on?

5)  Will I be able to dedicate sufficient time to this?

6)  Do I have the necessary technical expertise, and/or can I partner with someone who does?

Unless you can answer all or most of those questions, you’re better off saving your talents for something that’s more up your alley. Otherwise, you’ll likely either feel stretched too thin, or a sense of regret about the opportunity cost.

Know your strengths.

We all have strengths and weaknesses. The first step on the path to success in any field is to identify your own. Once you know where your own aptitudes and deficiencies lie, you can work to refine the former and improve the latter. You’ll also know which of your personal attributes you can rely on in high-pressure situations.

The willingness to venture outside one’s comfort zone is often an admirable quality. But if a project either isn’t your cup of tea from a technical standpoint, or you sense that your time would be better spent elsewhere, you should consider either turning it down or delegating it.

Strategies for politely declining:

“I’d like to know more. Can you send me more information?” This serves two purposes. First, it provides a test of the other individual’s commitment; if you never hear from h/er, you will know. Second, it gives you the opportunity to learn more about the endeavour itself before deciding whether to take it on.

“Let me check my calendar and get back to you.” This is not an explicit demurral, but it does enable you to buy time. It is possible that the person who pitched the idea to you will forget after a while. Alternatively, on further reflection you may decide that the project is right up your alley.

“This seems like an excellent, worthwhile idea, but unfortunately...” Shortage of time is an excuse that most people will accept, particularly if they’re not close friends of yours who happen to be conversant with your schedule.

Overcoming the Under-achievement Bugaboo

Successful people in any field tend to hold themselves to a lofty standard. As a result, they often experience disappointment or feel frustrated when their designs don’t immediately come to fruition. If this happens repeatedly, it can accumulate into an overall feeling of falling short of one’s potential. Highly intelligent, creative, and visionary individuals in particular are susceptible to this syndrome, particularly in a world filled with distractions.

Unfortunately, disappointments and diversions are facts of life; what sets high-achievers apart from under-achievers is the ability to achieve concrete, specific goals consistently, in spite of these obstacles.

The following list draws on the ideas of Dr. Ned Hallowell, a psychiatrist who specializes in attention-deficit hyperactivity disorder (ADHD).

Set two or three specific goals for each day.

Very few of history’s great achievements materialized overnight. Many famous works of architecture, like castles and cathedrals in Europe, required decades to build. Professional athletes, musicians, and artists rehearse and train rigorously for years in order to attain a sublime level of performance and make it look easy.

Even if the goals you set for yourself are ambitious, demanding, or significant in scale, focus on the process, and divide major undertakings into small pieces. This approach also offers a proverbial rope to help you climb out of a productivity rut: rather than concentrate on a huge task, direct your attention to a single component of the larger task. If you’re overwhelmed by the thought of writing a book, try writing a few sentences instead. You’ll have made progress already.

Establish medium-term, long-term, and lifetime goals too.

Beyond your daily goals, you should likewise establish two or three medium-term goals (for periods of two to three weeks), an equal number of long-term goals (six months to one year), and lifetime goals.

The key is to avoid taking on several big projects at once—which tends to result in partially completed works, but no tangible final product at the end of the time period in question.

Stay disciplined around e-mail, social media, and other online time-consumers.

If you’re a curious, active thinker who craves knowledge of the world, the internet is equal parts blessing and curse—the former, because an immense quantum of information and insight is available at your fingertips; the latter, for the same reason.

E-mail and social media are arguably the worst offenders, because as we see updates from our friends, new messages in our inbox, and replies to our tweets, we feel the urge to read and respond to those communications. For the sake of productivity, however, it’s important to resist the temptation to reply to online messages as they arrive.

Barring exceptional circumstances, try to reserve a time slot of about an hour each day in which you respond to e-mails, reply to Facebook messages, read news headlines, scan through your Twitter timeline, or whatever. For the remainder of the work day, steer clear of these potential time-leeches.

Devote yourself to projects that are consistent with your priorities.

If you’re a naturally enthusiastic and generous person, you may have a tendency to stretch yourself too thin. Realistically, life is full of worthwhile opportunities and undertakings for which we either don’t have time, or toward which we simply cannot devote enough effort to instill pride and satisfaction.

In that light, it’s important for you to prioritize endeavours that are consistent with your ambitions and passions. This will require you to politely decline some proposals. In other words, sometimes you need to say “No” in order to say “Yes”.

Be honest with yourself, and with the person who is making a request of your time and commitment. Rather than agreeing to do something right away, offer to think about it and get back to h/er. If for whatever reason you don’t feel up to the task, decline the offer by saying “This looks like a great idea/worthy project, but I just don’t think I’ll have the time to do it justice.”

By steering away from over-commitment, you’ll avoid disappointment, and free up time for the things that are most important to you, both personally and professionally.

For more information, check out Dr. Hallowell’s website, and this 2014 interview by life coach Marie Forleo.