Why are entrepreneurs so happy?

Why are entrepreneurs so darned happy?

Kevin Shirley, Associate Broker (DC), GRI, e-PRO, ASP

We have all had those moments where time is suspended. Athletes describe them as being “in the zone.” It’s something close to perfect euphoria. If this feeling is “happiness,” we ought to aim to take part in actions — both personally and professionally — which leverage and improve it. Interestingly, when we consider why we’re entrepreneurs and what makes us happy, there are differences. Conventional wisdom is that earning more money will raise our level of satisfaction. In truth, though, data indicate that income of $75,000 is the point of diminishing returns.

It stands to reason that that being “in the zone” can make us happy. Money can, indeed, provide short-term experiences of happiness, but it cannot offer long-term gratification. To keep the elation of money alive is to continually upgrade the quality of material goods that our money represents. We must add a second home to our first. Cars must turn into boats and then airplanes, and so on. With time, these material goods may have diminishing returns as well.

If money doesn’t make us happy, what about popularity? We obsess over actors. Gossip magazines and blogs are everywhere. With the rise of social networks, we always know precisely what the famous are doing. We see lavish lifestyles and get the impression that being famous must bring happiness. This starts a domino effect, and fairly soon, we are actively pursuing notoriety and attention of our own. Sadly, neither will celebrity bring joy. As a profession, actors have enormous difficulty in achieving satisfaction. This is why it’s common to see the famous involved with drugs and contending with depression. (Did you catch the recent Britney Spears documentary?)

If fame and money aren’t good enough reasons to become an entrepreneur, what will be then? The answer just could be in personal relationships and self-growth. As in sports, we can experience “in the zone” moments as entrepreneurs. The activity we’re taking part in — writing offers for clients, guiding them through obstacles, solving problems — is challenging and measurable. This is happiness through action and self-growth. We enjoy these moments as entrepreneurs because we are improving ourselves through challenging, personally meaningful activities.

To attain maximum satisfaction, we want new and thrilling challenges that we have the capacity to solve. Think about a card game. The most interesting situation is when our opponent is close to our skill level or slightly better. Too challenging or too simple, and we get bored. And while money itself may not make us happy, it can help us reach more of these in-the-zone moments. When your business makes more money, you get new, satisfying challenges to solve.

The second reason entrepreneurship brings us happiness is through the relationships we develop along the way, with clients and other professionals. These human connections have become less common as technology has enabled us to concentrate on relationships less. In contrast to 50 or 100 years ago, today we can work and function without needing much human interaction. Although this is convenient, we run the risk of never forging strong bonds with others.

Therefore, it’s in our best interest as entrepreneurs to work with individuals to develop strong ties. It’s not your team’s ability that will make you happy; it’s the challenges that you overcome together. Working in the trenches with the people you trust generates happiness. The continuous obstacles you overcome and learn from create those in-the-zone moments. And the journey to build a business with individuals who look out for one another gives us happiness as entrepreneurs.

As small business owners, we’ll always have more to discover and new challenges to conquer. That, by itself, can afford opportunities for happiness. We’ll continue to be in a position to enhance the relationships within our business. Unlike money and popularity, our businesses do not experience diminishing returns. Eternal happiness comes from the bonds we design and the development we undergo. And these parts of life are inestimable.

Make procrastination your secret sauce

Kevin Shirley, Associate Broker (DC), GRI, ASP, e-PRO

Procrastination is delaying or putting off tasks until the last moment or even past their deadline. Some researchers define procrastination as a kind of self-regulation failure, characterized by an unreasonable delay of tasks without regard to the (possibly damaging) consequences.

According to researchers, around 20% of U.S. adults are chronic procrastinators. However well organized and dedicated you are, odds are that you’ve found yourself frittering away hours on trivial pursuits when you need to be spending that time on work or school-related projects. Whether you’re finishing a job for work, avoiding homework or household chores, procrastination can have an enormous impact on your career, your grades, and your life.

Rather than view procrastination as a problem of time management, discipline, laziness, or willpower, research unequivocally shows that procrastination is an emotional-regulation problem. But not all procrastination is a self-defeating and disadvantageous indulgence or outright dysfunctional behavior. There’s also a beneficial type of procrastination.

Researchers have identified two kinds of procrastination. Active procrastination is when you affirmatively or strategically opt to complete a task later or closer to the deadline. If you perform better under pressure, waiting to complete a task can result in an improved result. Passive procrastinators frequently start a necessary task only to be absentmindedly derailed by less critical work.

Active procrastination has four essential dimensions

A preference for time pressure. Active procrastinators are ordinarily not frustrated with deadlines, nor do they lose their capacity to concentrate under time pressure. They frequently prefer working under pressure.
The intentional decision to delay tackling tasks. Unlike passive procrastinators, active procrastinators feel a sense of autonomy, volition, and service in their decision to delay action.
The capacity to meet deadlines. Active procrastinators, unlike passive procrastinators, aren’t always struggling against a deadline. Even though they may rush to complete a task on time, they generally meet set deadlines.
Satisfaction with the results of delayed action. Active procrastinators tend not to be happy with their results when they complete a task before a deadline. When they complete a task before a deadline, they often end up editing and finessing the finished product past the point of diminishing returns.

Some might argue that this really isn’t a form of procrastination, primarily because, as a culture, we have implicitly added negative associations and unpleasantness to the very definition of procrastination — we assume that procrastinators delay a task ONLY because it’s unpleasant and dull. Conversely, waiting to complete a task can be strategic. Another way to look at active procrastination would be as an intentional, self-motivated delay at the beginning of completing a task to create better, more satisfying results.

We’re basically looking at a self-regulation approach to improve productivity that superficially appears similar to procrastination but is based on significant core aspects. Current research doesn’t clearly suggest whether this is a trainable strategy.

It might just reflect personal temperaments, needs, and tastes. This means it isn’t clear if changing gears and suddenly becoming active can cancel out your passive procrastination and enhance productivity since both kinds of procrastination can coexist within a person.

By leveraging the power of active procrastination, you can benefit from several of procrastination’s counterproductive benefits:

Procrastination gives you an instant boost of energy. No matter how tired you are, when that impending deadline nears, you’ll get a dose of energy-boosting adrenaline, helping you push your task over the finish line!
Procrastination reduces unnecessary efforts. Do you know who’s efficient at getting something done quickly, efficiently, and in the most streamlined fashion possible? A practiced procrastinator, that’s who!
Procrastination enables you to have fun doing other enjoyable things. Certainly, you’ve heard of Parkinson’s Law, which says that “work expands to fill the time available for its completion.” The trained procrastinator knows innately how to leverage this immutable law. Simply limit the amount of time you need to do something until the very last minute — and use the remainder of the full, allotted time doing more pleasurable things.
Procrastination helps put off unwanted anxiety. Deadlines come with a lot of anxiety. If you keep worrying about all the deadlines you have to meet, your anxiety levels will inevitably keep rising. Ugh. Anxiety. No good comes from anxiety, and the seasoned procrastinator knows that worry and anxiety are for the birds. Forget about your task and its resulting anxiety until the very last possible moment. Your health will thank you.
Procrastination boosts creativity. You have to get creative when you’ve put off a task until the last possible moment, and you now have to complete a 3-hour task in 45 minutes. With your adrenaline flowing, your brain will naturally focus with laser-like precision on the fastest, smartest, and often the most creative way forward. You’ll never know how creative you can be until you’ve got an enormous deadline staring you in the face!

As you can see, there are definite benefits to procrastination. So don’t fight it. Lean into it! Here are a few strategies to make the most out of something you’re probably already doing.

Leverage the energy release. Our energy is a finite resource, and each task eats up a small bit of these reserves throughout the day. It is not uncommon to drop into procrastination style when you’re confronted with tasks that seem time-intensive, tedious, difficult, or low on your interest meter. Whenever your levels of energy drop, your desire to finish a task also decreases. However, if you procrastinate long enough, you will find yourself up against fast-approaching deadlines. Looming deadlines can create negative emotions of fear, anxiety, and stress, but the deadlines also trigger positive changes such as adrenaline rushes. Even on an empty tank, fear, along with an adrenaline surge, supplies an energy boost to assist you in getting the job done.
Get laser-focused. When you have procrastinated to the point where a deadline is right around the corner, offers need to be written, reports are expected, and decisions must be made; the only idea in your mind will be, how to get everything done. Even for chronic procrastinators, it is hard to dismiss work when there are dire consequences of not completing your tasks on time. You’re not as likely to get diverted or delay your work because you are so focused on the task at hand. Waiting until the absolute last moment to achieve something will force you to concentrate by shutting out all extraneous social interactions, electronics, and email.
Delegate and prioritize. As an entrepreneur, your day is most likely filled with things you may not wish to deal with at that moment — from minor tasks to massive projects. Being a procrastinator may help you streamline your daily workload by focusing on the functions that pique your interest and have more pressing deadlines. Look at the day-to-day tasks that you are inclined to avoid and ask yourself if any one may be delegated to someone else. That is an excellent opportunity to hand off your tiresome tasks to a digital or virtual assistant so that the time you have may be used for more essential matters that only you are capable of accomplishing.
Get it done faster. Few things will make you rush toward the end line like realizing you are behind schedule. With less time available to complete the job and a contract deadline looming, you will put in maximum effort to finish the race. The benefit here is that you understand just how rapidly a task takes to complete once you finally give it your all. This realization can reduce that feeling when a similar task comes up in the future. Since you’ve created a baseline for how long it will take to get done, it will be simpler to complete similar projects on a deadline in the future.
Give yourself time to research. Timeliness in decision making and handling projects are generally a good thing in business. Relationships and changes in strategy, growth, and agreements with partners and other vendors tend to go well when things have been handled effectively. And on the other hand, procrastination provides you more time to contemplate the expenses and advantages of decisions you need to make. As opposed to creating a quick decision, procrastination allows you time to thoroughly mull decisions over and assure you make the right choice. This is particularly useful if new information is uncovered through the delay that may influence a decision based on facts and research.
Improve your work-life balance. A healthy dose of procrastination can go a considerable way toward keeping you healthy. Every day should not be a play day, of course. Rather, when you know you have projects due and deadlines approaching, it is ok to occasionally take a break and pursue other less-stressful endeavors. Delaying a task to take a walk or a rest, spend some time with family, or participate in other self-improvement activities may positively influence your physical and psychological wellness. When you are healthy and well-rested, you will have more energy and a better state of mind for handling projects when it is time to get back to work.

Your skills, capabilities, and characteristics got you where you are now. And that includes your inclination to procrastinate. Rather than attempt to change who you are in the middle of building your business, figure out ways to utilize procrastination to your benefit, and find new ways to use your unique personality traits for your business’s advantage.

The Importance of Personal Development for Entrepreneurs

Kevin Shirley, Associate Broker (DC), GRI, e-PRO, ASP

No matter in which business sector you are working, it is always important to continually learn something new. Becoming an entrepreneur is not a simple task. There are so many complicated things that you need to handle daily. The marketing changes with each passing day, consumers are developing new buying habits. Furthermore, developing technologies are influencing the market trends considerably. Therefore, entrepreneurs need to develop new skills to sustain and grow in the competitive market. And in this process, they need to understand the importance of personal development. After all, it can help you impress people around you, and you will also be able to develop a more extensive network in the business sector.

Self-improvement and self-development can be defined as two critical moves that can bring more success to the entrepreneur. More personal growth can help you take your business to a whole new level. There are so many things that you can improve in your business by just making some critical changes in your routine life.

Personal development for entrepreneurs

Many people feel shy about taking a course for personal development. For many, the idea of becoming a happier and better person appears silly. But in reality, personal growth can help you handle your business-related responsibilities better. No matter what you do or what type of person you are, personal development can benefit you in several ways.

Take you beyond your limiting beliefs. Our beliefs decide what we do at every stage of life, and they can exert massive control on our experience. Successful entrepreneurs are always interested in adopting an essential set of beliefs that can improve their life. If you are not surrounded by people with a positive mindset and a high level of personal responsibility, you will likely miss incredible opportunities. But once you develop a strong personality, you can deal with the natural fears, anxiety, and doubts with ease. You need to find reliable tools and techniques to make a mental shift and start developing healthy beliefs.
Change self-sabotaging tendencies. Doing things intentionally to increase your success rate may sometimes appear difficult for your conscious mind. But your subconscious mind works on a different plane. Some weird things can block our professional success: fear of criticism, failure, responsibility, or even — counterintuitively — becoming successful. You may even have a fear about how other successful or wealthier people will perceive your success. Other than these, some entrepreneurs’ everyday habits also block their success; the most common ones are procrastination and laziness. Success is not about being perfect; instead, it is about putting the right efforts into your work and following through on imperfection action. You need to develop a positive mindset to achieve desired success.
Manage stress efficiently. For entrepreneurs, stress is one of the most typical troubles that they face in their routine life. It can come from business planning, execution, and while dealing with some unexpected roadblocks. Stress can sometimes become very destructive to your business goals; therefore, finding some trusted ways to relieve stress is essential. You cannot deal with stress and anxiety until you follow a trustworthy approach to stress management. You can try yoga, meditation, or deep breathing for this purpose. Some people prefer to do routine exercise to improve their mental health. It is vital to understand that stress can introduce some negative emotions in your mind and further disturb your business perspectives.
Improve skills and capabilities. Entrepreneurs must always be ready to learn new things, enriching their lives with new skills and abilities. The fast-changing trends demand entrepreneurs to stay updated, and if they follow the right strategies to boost their skills, it is possible to achieve specific goals in the business. Investors in the competitive market are also looking for business owners who possess a multitude of skills to ensure more profits in the market. Furthermore, the efforts to improve new skills can also make your personal life more fulfilling and satisfying. Therefore, it is crucial to take expert assistance to boost your creativity, horizon, and knowledge with ease.
Improve physical health. It may sound surprising, but personal development can also improve your mental and emotional health. It is the best way to keep your energy levels high while making the best use of your mental power. The main goal must be to embrace some successful and growing people’s habits so that they can improve your overall lifestyle. A healthier life can further enhance your happiness levels while helping you to deter stress with ease. Personal development can also improve your social health. When you are at peace and have a balanced state of emotions, it will be easier to develop a healthy network and receive recognition in the market. All these factors leave a considerable impact on the growth of business and professional relationships as well.

Now you have gone through some details about how personal development can improve your professional life. Entrepreneurs need to follow trusted methods to boost their overall skill levels. You can start reading more books, take courses, work on time management, and find ways to learn new skills. You may also need to enhance your field-specific knowledge and abilities to handle challenges in life. At the same time, you need to focus on your health and well-being as well. Try to incorporate new ideas into your life while opting for a trustworthy self-improvement strategy. It can help you become a better entrepreneur in the future while grabbing some of the best business opportunities.

Stay productive even during a bout of depression

Kevin Shirley, Associate Broker (DC), e-PRO, GRI, ASP

If you are suffering from depression, you may find it challenging to remain productive. It is also known as major depressive disorder; it is one of the most common psychological disorders.

Depression affects how you feel, the way you think, and how you act. It causes you to feel sadness and loss of interest in daily activities. As a result, it affects the productivity of your mental and physical health. All of its symptoms may prevent you from carrying on with your life.

But there are a few strategies you can deploy to keep productive despite experiencing depression. Here are six ways to enhance your productivity even in a depression.

Make a timetable

Make a schedule of your daily routine that will help you to be in a proper channel. Once you set your schedule, then stick to it. Following a plan will make your daily routine a habit. And once you develop a habit, it takes less time and effort to do a specific chore. Staying busy will also keep your mind active, leaving less time to ruminate.

Concentrate on the present moment

Thinking and regretting the past doesn’t benefit you. Of course, it’s necessary to keep those moments in mind and learn from them, but overthinking can overwhelm you. Similarly, thinking about unknown future challenges can leave you worried, sad, and hopeless. Therefore, focus on your present moment, the moment you are living right now. For instance, pay attention to the leaves moving in the air. Feel those movements for a while. Practicing mindfulness will help you cherish the present moment.

Get your body moving

Sitting and cogitating for hours not only slows down your metabolism but also can endanger your mental and physical health. Conversely, exercise and physical activity release hormones that improve your mood. So what are you waiting for! Get your body moving. Start small and keep yourself motivated by trying different workout techniques or new gym equipment.

Improve your diet

You may have heard, “you are what you eat.” Therefore, choose what you eat wisely. Avoid junk food, processed food, and sodas. Instead, favor homemade cooked food, whole foods, and fruits and vegetables. Include juices with your breakfast, and make sure to get all the essential nutrients in your diet. Remember, healthy food keeps your mind and body healthy.

Spend time on your hobbies

Books can be your best friends. Focus on this friendship. Set aside time every day to reading. If you can’t read much, simply build a habit of reading even one page daily. If this seems too daunting, try downloading an audiobook and listen for a few minutes at a time. Or do whatever makes you feel accomplished and happy, such as writing in a journal, listening to your favorite music, going for a relaxing massage.

Maintain your social support system

Connecting with people is a human need. Nurture the relationships with those in your social circle and spend time with them. Hangouts with friends or family can lift your mood and help you share what you are going through.

Although depression can make you feel sad, ineffectual and reduces your interest in daily activities, among other symptoms, there are ways to enhance your productivity and live a better life. Throw out all the self-defeating thoughts away and follow the strategies listed above to bring productivity back in your life, even if you are suffering from depression.

Break the Vicious Cycle: Perfectionism, Procrastination, and Paralysis

Kevin Shirley, Associate Broker (DC), GRI, e-PRO, ASP

Let’s face it, perfectionism, procrastination, and paralysis are toxic and can hold you back from achieving your goals. If you’re stuck in this vicious cycle, you can work endlessly without getting satisfactory results. While getting stuck in this vicious cycle is very dangerous, some people don’t even know that they are there, thus, the cause for the unending quest to end the cycle.

How would you know that you are affected by one of these unwanted perfectionism traits, procrastination, and paralysis?

Perfectionism

Perfectionism is exhibited by the constant fear that whatever you are doing will not be good enough, thus, pushing you to keep on working on your project, striving to perfect it (tweaking, editing, reworking). Perfectionism comes from set expectations, which are often high and unrealistic. The fear caused by perfectionism can also be caused by the fear that your output will be rejected. Therefore, you might realize that you are suffering from perfectionism if you are always worried that your project is not good enough.

Procrastination

Procrastination is the act of postponing work, leaving it pending for a long time. There are many causes of procrastination, including being a victim of perfectionism. So, when you are stuck for any sort of fear, you start making excuses for not doing the work, thus pushing its deadline further ahead. You can also engage in other unrelated tasks to keep yourself busy to avoid doing the main task.

Paralysis

As a result of perfectionism and procrastination, you can become completely stuck on a project. When you are unable to carry on with a specific task, it is then that you show signs of paralysis. Paralysis damages your self-esteem, making the cycle continue since your greatest fear is confirmed with this.

Basic steps to end this cycle

You will never enjoy the beauty of accomplishments if you are always stuck in this vicious cycle. It is of great importance that you start to take deliberate steps to end this cycle. Here are seven great ways to get you started:

Accept imperfection. One of the primary things that you can do to stop perfectionism is to start accepting imperfection. The first thing is to recognize that genuine accomplishments are sometimes imperfect. You should treat this as a normal thing, for it is expected if you live in this world. One important thing to remember is that accomplishments might not happen as you expect them to happen, but it doesn’t mean that you cannot celebrate your achievement in its shape. Another essential thing that will help you deal with perfectionism is knowing that everyone has a different view of what is perfect; thus, you should not judge yourself against what others think.
Take small steps. If you want to tackle a task effectively, you need to break it into smaller achievable steps. Just take a light example of organizing your emails. If you were to do that in a single sitting, you might not be able to finish it all at once, but if you assign yourself bits of the task, you might end up finishing it in a week or so. But when you break tasks into smaller action steps, you make them achievable and manageable. Furthermore, you feel a sense of accomplishment along the way since you get involved in achieving what you can manage. Always remember that these small accomplishments will help you build the momentum of finishing more significant tasks.
Track your time. Another important thing that can help you break the vicious cycle of perfectionism, procrastination, and paralysis is tracking your time. It is of paramount importance to note that time defines the task you want to do. Setting an achievable target alongside its deadline is vital in helping pace you well. This will help you avoid the temptation of procrastination. You also need to balance your priorities to avoid a scenario where you are focusing on one task, neglecting other aspects of your life, which might also lead to psychological damage.
Surround yourself with positive support. There is nothing as exciting as having positive support around you. One of the top reasons people don’t finish important tasks is because they get distracted because of loneliness. Associating yourself with positive people who can help you achieve a task can help you complete the task and celebrate your achievements.
It is okay to say NO. The vicious cycle tends to target people who are committed to working. While there is nothing wrong with being committed to your work, you need to start practicing how to say no. People can take advantage of you if you cannot decline proposals to get involved in overwhelming responsibilities. If you have a lot in your planner, just decline incoming tasks to allow you to finish the pending tasks. If you have a lot under your sleeves, you might end up finishing none.
Use the reward system. One of the best motivating factors that can keep you in check while doing a task is rewarding yourself. As earlier suggested, you should break your tasks into smaller bits. Every time you finish any of the smaller tasks, reward yourself. This will keep you focused on the next piece of a task as you have the upcoming reward in mind.
Consider your body and mind. Another thing that leads to paralysis is being unable to coordinate your body and mind. You need to be in an excellent physical and mental state to perform your tasks diligently. You need to perform regular ‘self-checks’ to ensure that you are in good shape to carry on with the task.

Breaking the vicious cycle of perfectionism, procrastination, and paralysis is a journey that should begin immediately. Never let any of these unwanted elements of the vicious cycle hold you down; simply put the basic guidelines into practice. If you are unsure, you can talk to a professional about your experiences to get help.

How are your New Year’s resolutions coming?

That’s obviously a trick question: I know you don’t make resolutions; YOU set goals! Here’s my goal-setting strategy.

Whether you are an entrepreneur, a 9-to-5 office worker, or a stay-at-home parent, you need goals. You will have no idea where you are going and if you’re making progress in the absence of them. Setting goals using the SMART methodology is an excellent way to get started. It is a method of writing goals that follow specific criteria. So what are “SMART” goals anyway?

It is generally accepted that the SMART acronym was codified in 1981 by George T. Doran, a consultant and former Director of Corporate Planning for Washington Water Power Company, in a paper entitled “There’s a S.M.A.R.T. Way to Write Management’s Goals and Objectives.” In his paper, Doran provided some clarification for readers on applying the SMART acronym:

“‘How do you write meaningful objectives?’- that is, frame a statement of results to be achieved, Managers are confused by all the verbal from seminars, books, magazines, consultants, and so on. Let me suggest therefore, that when it comes to writing effective objectives, corporate officers, managers, and supervisors just have to think of the acronym SMART. Ideally speaking, each corporate, department and section objective should be: (SMART).”

— GEORGE T. DORAN

So, what’s your goal-setting technique? And how do you measure your success? Hit me back, I’d love to know!

Entrepreneurial Opportunities in the Time of COVID

Kevin Shirley, Associate Broker (DC), GRI, e-PRO, ASP

The spread and onset of the Covid-19 pandemic left many people in trouble. The coronavirus outbreak was reported first in the month of December 2019, in Wuhan, China. Unfortunately, this virus took very little time to reach almost every corner of the world to affect the routine human lifestyle with the rising threats of mortality rates and uncertainty about disease treatment. The World Health Organization (WHO) announced it a global pandemic within three months. Medical health professionals advised following standard social-distancing measures to control the spread. Given the critical consequences associated with this disease, people were advised to follow extended lockdown measures.

2020 was a troublesome period for business professionals around the world. The economies of developed and developing countries the world over took a remarkable hit. Many people lost their jobs, and many companies started adopting remote work routines to maintain business operations. The governments, policymakers, and authorities worked hard for several months to set new rules to help people adjust to this new normal. Although several start-ups were forced to terminate operations during these crises, many made hard efforts to sustain.

It may sound strange, but some studies reveal that Covid-19 has opened doors to increased entrepreneurial activities in some sectors. Many organizations are experiencing a significant boost in sales and lead generation. Some of the best examples are companies manufacturing ventilators, sanitizers, and relevant hygiene products. Moreover, Covid-19 has changed our lifestyle by a considerable level, many creative business owners have devised new ideas to respond to the ongoing emergencies. Governments worldwide are also extending support towards new entrepreneurs to help them establish business during these hours of crisis. For instance, the UK government has recently announced a massive package of £1.25 billion to assist start-ups with new growth opportunities. It is a great initiative to drive innovation in the business sector.

Many start-ups and newborn entrepreneurs have grabbed the growth opportunities during this pandemic. They are interested in redirecting and repurposing the existing knowledge, people, skills, and networks to meet the target consumers’ emerging needs. Many individuals started producing face masks at home during this pandemic to make money. Some local communities also turned their taxi start-ups into grocery delivery services to serve the public. These simple efforts to adapt to the new normal helped them to survive in these trying times.

There is no doubt that this repurposing approach cannot be implemented without challenges. Many entrepreneurs have faced considerable obstacles to prove their trustworthiness in the new domain without any past experience. Although this repurposing strategy can be a short-term approach for many start-ups to survive during the pandemic, many others have considered it a standard solution to achieve sustainability in this competitive market. Moreover, entrepreneurs benefit from the extended support provided by institutions, government authorities, and financial institutions.

Some may argue that the Covid-19 pandemic has left a negative impact on the business sector. But many studies reveal that these crises have also attracted new talent in the market. Over the years, entrepreneurs have become more high-tech and creative to serve the buyers’ changing demands. Other than this, the pandemic has forced people to work remotely, and in this scenario, business owners are also outsourcing talent online. The trend of freelancing and virtual support has increased as a result of these social-distancing measures. It has become a new and beneficial opportunity for the new age entrepreneurs and skilled professionals as well. Moreover, this trend is filling the gap between demographic restrictions for talent accommodation in the companies. It is now possible to hire a diverse range of professionals who can work remotely to support the organization’s overall growth and productivity.

The thought about how pandemic has affected the business world is now taking new dimensions. Rather than enumerate the negatives that entrepreneurs have experienced during these months, experts are now discussing the myriad new business opportunities currently emerging. Entrepreneurship ideas that left a lasting impact during this pandemic:

Remote work

One of the most common transitions that we experienced during the Covid-19 pandemic is the shift from office to work from home trends. Businesses that were earlier following typical office working routines identified new scopes with remote work during this pandemic. Many are even ready to adopt this model post-pandemic as well. Millions of business professionals worldwide have recognized the benefits of time-saving by avoiding the daily commute, flexibility, and better work-life balance. If you are planning to open a new business, you can opt for virtual office trends to allow all members to work from home at their convenience.

Digital marketing

Another idea for business during a pandemic is digital marketing. Both existing companies and start-ups are looking for some trusted ideas to promote their niche online. Most people these days are buying online, making an impression on the internet has become essential for all brands. Instead of searching for traditional print marketing solutions, business owners are interested in hiring professionals or agencies for PPC, SEO, and social media marketing. This trend is going to sustain in the market post-pandemic as well. Therefore, the new business owners can also look into this direction to achieve success online.

There is no doubt that some creative, innovative, and talented entrepreneurs can find ways to survive during this pandemic. It is always important to do adequate analysis before taking your new idea into the market. Prefer to execute a detailed search online, take expert guidelines, and follow some reliable strategies to establish your new business during these trying times. If your niche succeeds in leaving a lasting impact on buyers, they are likely to return and become loyal customers of your business.

What Artificial Intelligence Means to Entrepreneurs

Kevin Shirley, Associate Broker (DC), ASP, GRI, e-PRO

If you are making efforts to build an impression in the business industry, you might be already aware that technologies leave a considerable impact on this sector. Today, routine operations at most enterprises are highly dependent on artificial intelligence and machine learning algorithms. Neural networks and deep learning methods are opening new opportunities for boosting popularity in a competitive market.
Investors around the world are always interested in finding growth opportunities for their artificial intelligence-based ventures. But to succeed in this field, you need to thoroughly understand the technology and its applications.

Artificial intelligence in the enterprise sector

Artificial intelligence has been serving society for the past several years. However, the incredible progress of technologies such as data analytics and cloud computing in the business sector is now opening new doors for growth. The big companies such as Microsoft, Facebook, and Google have already started adapting artificial intelligence to improve their impact. The big brands are investing in forecasts to understand future growth opportunities. It can help them develop clear-cut and most effective practices to serve the market’s target audience. Instead of messing around with several trial-and-error methods, they can follow the predictions to make the most reliable decisions.

Artificial intelligence for recommendations, visualization, predictions, and risk detections can significantly improve your business. Experts consider it the next stage in the business industry after the internet. This technology can bring in-depth insights from the market to enhance a business’s operations to perform better. Artificial intelligence can further help in improved data analysis and for enhanced decision making.

There are so many ways you can utilize artificial intelligence in the business. Below are the most impactful applications of this technology to ease your decision-making process:

Marketing

Machine learning algorithms can help you analyze an extensive range of data, trends, and patterns from the target market. When you evaluate and understand user data more efficiently, it can naturally open new doors for effective marketing. You can merge your artificial intelligence algorithms with a social media strategy to receive enhanced returns. The behavior tracking further improves the ability to serve the audience with an enhanced satisfaction level.

Sentiment analysis

Artificial intelligence can also help understand human beings’ complex emotional behavior so that you can improve your business accordingly. Sentiment analysis can help you predict customer behavior, and you can design your marketing campaigns to capture their attention. This advanced technology can help you change market trends with ease.

Improved workflows

Artificial intelligence does not just assist with marketing, promotion, and customer satisfaction. Instead, it offers the most reliable solutions to improve workflows at office premises. The automated supply chains and streamlined processes can save more time for your staff to handle other vital tasks in the meanwhile. This technology can also help you save more on maintenance and cost associated with malfunctions. In simple words, artificial intelligence can help entrepreneurs to achieve enhanced sustainability for business.

Use Visualization to Move Your Business Forward

By Kevin Shirley, Associate Broker (DC), ASP, GRI, e-PRO

When you are planning a new endeavor, what goes through your mind? The chances of failure, thoughts about losses that some competitors are experiencing, or the poor performance of your service? You wouldn’t be human if you didn’t at least consider the possible adverse outcomes. But do you know how successful business owners are different in this context? They intentionally visualize success, profits, and the excellent performance of their niche in the target market. And ultimately, they prove their edge in the market.

The point is that what you visualize can make a tremendous difference in your life. Visualization is not just a word; instead, it is a simple technique that can be used to create a solid mental image for future events. When you visualize success, you are actually building confidence to perform well. This is true in every sphere of life, including the business world. Therefore, experts advise visualizing success for every event or activity that you are planning to execute.

Here are a few trusted on using visualization to move your business forward. These ideas may help you succeed in a competitive market by inviting unique opportunities on your way:

Envision a long-term strategy. Research shows that 46% of entrepreneurs start their new company with a vision, and they decide to follow it. But the idea doesn’t stop here. You need to develop a long-term strategy to make sure that you sustain in the competitive landscape, geography, and industry. Small business owners of all stripes should visualize a method for increasing services, space, and staff over time. This is a way to identify new opportunities for your business and chart out the future you want.
Improve and maintain operations. Even if you have set up a strong strategy for the business, it takes a lot of effort to improve and support enhanced sustainability operations. You should consider using images and photographs to capture goals and aspirations for your business. Whether it is about the employees at work, the company’s physical space, or the new office’s ideal location, photos can always inspire you to do something better. It is an integral part of the visualization strategy.
Use simulations for employee training. How you want your business to look in the near future? The answer to this question will decide how you should train your employees. Even if they are working fine in the current environment, you should use simulations to develop their mindset for a progressive future. There are plenty of software tools that can be used to streamline your visualization and teach your employees to work in that particular direction. You can use visuals to create a lasting impression among employees and partners.

Visualization is not about imagining a picture-perfect world; instead, it is about creating motivational imagery for your business to accomplish new goals. Moreover, this is a low-cost method to map your success while improving market strategy in the long run.

The Connection between Procrastination and Guilt

By Kevin Shirley, Associate Broker (DC), ASP, GRI, e-PRO

If you have a tendency to procrastinate, guilt can come to dominate your emotions, which creates a vicious cycle: You procrastinate about something, which generates a feeling of guilt. That guilt further stops you from acting and only increases the sense of guilt, leading to more procrastination.

The cycle is tough to break.

Many people get stuck in this loop at some stage of life. But you need to find a way to deal with these destructive impulses so that you can become more productive in the future. The pain of guilt should not stop you from carrying out vital tasks; instead, it should motivate you to handle your commitments, values, and intentions more effectively.

Tips for dealing with the cycle of procrastination and guilt

When guilt is paired with low self-discipline, high expectations, and low self-compassion, it can quickly become dysfunctional. You need to self-regulate your emotions and control your behavior associated with procrastination. Here are five trusted ways to help you deal with the guilt caused by procrastination:

Try self-compassion. Self-criticism and guilt go hand in hand. We do not just keep on feeling guilty for not doing things in a timely fashion; we also continue criticizing ourselves for that. This behavior adds more negativity to your mind, and you will feel worse. And it ultimately leads to more procrastination. The alternative to this behavior is to insert a healthy dose of self-compassion into the cycle. It is the perfect combination of common humanity, self-kindness, and mindfulness. You need to understand that procrastination is very common and definitely not the end of the world; instead, you need to open new doors and make yourself ready to accomplish things on time again.
Forgive yourself. The self-compassion is closely associated with self-forgiveness, and it can help you deal with procrastination-related guilt. You need to move towards self-acceptance instead of self-punishment to reduce negative emotions and do better next time. This approach can help you avoid procrastination behavior in the future and never experience that guilt again. The idea is to accept your mistake and look for ways to improve your upcoming projects’ performance. It will soon help you to get back on track.
Strengthen your emotions. Procrastination is a matter of emotional intelligence, and it is also defined as self-discipline. The idea is to manage your emotions to align with your intentions, morals, and values in the best possible manner. You can prevent the negative emotions that invite guilt into your mind. Instead, nurture positive vibes and strengthen your abilities to regulate skills. This is a crucial step to channel your energies towards a healthy and happy life.