5 Ways to Keep Motivated and Focused on Your Business

Staying motivated is difficult even in the best of economic times. I suspect many of your staff members count on you each day for their motivation. So that begs the question – “Where do you find your motivation?”

I was recently speaking to a group of business students at the Atlantic Business College. During the Q&A, I was asked by one of the attendees where I found my motivation and how I stay motivated each day.

As I’ve mentioned in an earlier posting, a true entrepreneur is motivated by challenges and creating opportunities. But how can you stay motivated, especially when things are tough, and you never seem to get a break? Here are a five strategies and sources of motivation that work for me.

1. Peer Groups. Take the time to meet with other business owners who are in the same boat and face the same challenges as you. This could be as simple as a monthly gathering of like-minded business owners over breakfast. I belong to Entrepreneurs’ Organization and take part in forum meetings once a month. These forum meetings have me sitting with a group of 8 other entrepreneurs in a confidential setting, where we discuss business and personal issues as they arise. This has been a huge source of motivation for me. Closer to home, I also started a group called The Retail Forum, a group of 6 local retail based business owners who get together once a month. Again, we go through updates and present on issues that we are facing in business. It can be lonely at the top. You need peer support with other business owners.
2. Mentors and Advisors. I have several mentors I meet with as often as I can (which never seems to be often enough). These mentors, some of which I am much closer to than others, always prove to be a great source of support and motivation in business. Use your mentors for advice and to lean on when things are challenging for you. They’re a great source of wisdom, knowledge and support.
3. Think Days. Taking days away from your customers, your employees, your friends and family, to just get away and think about business can be incredibly motivating. The wealthiest man in the world, Bill Gates actually takes a full week, twice a year to get away from everyone, read and think about business. The Wall Street Journal highlighted Gates’ bi-annual Think Weeks in an article In Secret Hideaway, Bill Gates Ponders Microsoft’s Future. This is such an amazing concept. Maybe you can’t do a full week (I know I have never been able to). However, maybe you can start with a full afternoon, then maybe a full day. I do this routinely and I do find it very motivating and re-energizing.
   
4. Education. Whether you choose to read books, read magazines, go on courses, attend university classes, education opens up the mind and grows your knowledge base. While learning, allow your mind to wander and allow new thoughts, ideas and concepts to float in and inspire you. I know I’ve come up with some of my best ideas while attending courses.
5. Down Time. In my opinion, there is nothing better for re-energizing an entrepreneur than taking time away from the business to relax. Every time I take a vacation with my family, it allows me to let go of all the stresses at work and just enjoy the moment with my wife and kids. Once I’ve had my chance to decompress, then usually by the end of my vacation, I can’t wait to get back to the business, and back to tackling new challenges and opportunities.

Those are my secrets for saying motivated as an entrepreneur. What are yours? I’d love to hear your ideas.