How To Learn Better As A New Entrepreneur
Starting a new business can be both exhilarating and daunting. As a new entrepreneur, it's essential to develop strategies that help you learn and grow quickly.
Here are some key approaches that I adopted and adapted about 2 decades ago, to enhance the learning towards success!
1. Adopt a Learning Mindset
Embracing a lifelong learning mindset is crucial for entrepreneurs. The business landscape is constantly evolving, and staying informed about the latest trends and technologies is vital.
Pick up a book, get curious, ask better questions to get better answers.
A. Online Courses
I did not even have a personal computer nor a smartphone until I entered Polytechnic around the age of 17 years old. In the school, the lecturers put up contents for students to access. It was an amazing experience to be able to read so many things online! It set the habit for me to be comfortable reading and learning materials off the computers.
Utilize platforms like Coursera, edX, and Udemy to take courses on entrepreneurship, marketing, finance, and leadership. These courses can provide foundational knowledge and insights into best practices.
Here’s one where my company, BlackStorm works together with the National Library Board to train Entrepreneurs-To-Be, in Singapore:
B. Books and Podcasts
Read books by successful entrepreneurs and listen to podcasts that focus on entrepreneurship. These resources often offer practical advice and inspiring stories.
Invest in a good Kobo device with access to many free books via the Libby app.
C. Networking
Attend seminars, workshops, and conferences to meet other entrepreneurs and industry experts. Networking can lead to valuable connections and opportunities.
Be the one to ask questions, listen and be curious. Offer helps without expecting anything in returns and over time, you will be recognized for adding values to the gatherings, where others will invite you to.
2. Seek Mentorship
Finding a mentor can be one of the most impactful decisions you make as a new entrepreneur.
A mentor can provide guidance, support, and valuable insights based on their own experiences.
But start off with yourself that you be someone willing to learn and not be argumentive just to win every conversation or to prove a point that you are right, and the mentor is wrong.
A. Identify Potential Mentors
Look for successful entrepreneurs in your industry or niche. Attend networking events or join entrepreneurial groups to meet potential mentors.
B. Reach Out
Don’t be afraid to reach out to someone you admire. Be clear about what you hope to achieve and how they can help.
C. Be Open to Feedback
Use your mentor as a sounding board for ideas and challenges. Be open to constructive criticism and advice.
3. Develop Key Skills
Certain skills are essential for entrepreneurs to succeed. Focus on developing these skills to enhance your ability to lead and grow your business.
Like an armour to the war zone, these skills will set you apart from others. Learn well and execute well.
A. Leadership Skills
Learn how to motivate and manage a team. Leadership courses or workshops can help you develop these skills.
B. Communication Skills
Effective communication is critical for working with clients, partners, and team members. Practice articulating your vision and ideas clearly.
If you don’t speak, others won’t know and no one will be keen to get you to talk more if you are not even taking the effort yourself.
C. Analytical Skills
Develop the ability to analyze data and make informed decisions. This includes understanding financial reports and market trends.
4. Embrace Failure
Failure is an inevitable part of the entrepreneurial journey. Instead of fearing failure, view it as an opportunity to learn and grow!
Rarely has no one fails before they succeed.
A.Reflect on Mistakes
When something doesn’t work out, take time to reflect on what went wrong. Identify lessons that can be applied to future decisions.
Many times, it may be your own stubbornness, ego, pride that are stopping you from progressing.
B. Adjust and Adapt
Use the insights gained from failures to adjust your strategies and adapt to changing circumstances.
5. Stay Focused
Maintaining focus is crucial in the fast-paced world of entrepreneurship.
Here are some strategies that I work on myself to help stay on track -
A. Set Clear Goals
Define specific, achievable goals for your business. Break down larger goals into smaller, manageable tasks.
Set a time over these goals and pivot to meet the targets.
B. Prioritize Tasks
Use tools like to-do lists or project management software to prioritize tasks and manage your time effectively.
Use Google tools like Calendar, To Do to give you a heads start.
C. Avoid Distractions
Minimize distractions by creating a conducive work environment and setting boundaries with non-essential activities.
Invest in a good pair of noise cancellation earpieces or headphones when working.
Bonus:
Work as a team even if both of you are doing different things, on different goals. Share the learning and encourage each other and to pull each other up when you hit the walls.
Learning as a new entrepreneur is a continuous process that requires dedication, resilience, and the right strategies. By adopting a learning mindset, seeking mentorship, developing key skills, embracing failure, and staying focused, you can navigate the challenges of entrepreneurship more effectively.
Remember, success often comes from a combination of hard work, smart decisions, and a willingness to learn and adapt.
