Discipline: A Must-Have Trait for Entrepreneurs

Discipline: A Must-Have Trait for Entrepreneurs

Starting a new business, particularly in this economic climate, can be a risky venture, but if you have the right traits and attitude, you can succeed. The key ingredient to entrepreneurial success is discipline – an attribute that will greatly impact each and every aspect of your new venture.

Discipline is more than simply telling yourself not to spend the proceeds from your first big sale on a new TV for your Super Bowl party – although that is part of it. You will need to use discipline in every aspect of your new business including:

1. Defining your goals

People who are disciplined believe that luck is not something that just happens. You have to create it. This involves setting clearly defined and measurable goals.
goal setting
If you haven’t defined your goal, how will you know when you’ve reached it? Photo credit: ::: M @ X ::: via photopin cc

2. Developing and adhering to a plan

This is where many entrepreneurs fall short. They have a great product, innovative ideas, and a goal. They simply don’t know how to turn these things into a viable business – they don’t have a plan.

Disciplined people will take the time to set out a logical plan that has manageable steps and contingencies. And most importantly, they stick with it – no shortcuts, no skipping the hard parts or giving up when things get difficult.

If you struggle with discipline, create a plan that consists of many small steps. This will allow you to celebrate small victories along the way – encouraging you to move forward and stay the course.

lack discipline
This cat did not stick with the plan. Clearly, he lacks discipline. Photo credit: demandaj via photopin cc

Learning to say “no”

Disciplined people know when to say “no” – to both themselves and others. As tempting as it may be to indulge in a new Mercedes ­ – and as easy as it is to convince yourself that you need one for business – it is important to put the needs of the company ahead of your deepest desires. Discipline means keeping the cash flowing in, not out.

It also means being able to decline offers to invest in other businesses and people. Disciplined people keep their eye on the proverbial ball and do not let themselves become distracted from their goals.

Maintaining professionalism

Ensuring that one behaves in a professional manner in all areas of business takes discipline. In order to succeed, an entrepreneur must be ever mindful of how the outside world perceives them. This involves creating and nurturing a professional image – one that must be sustained even when dealing with the most difficult clients. This takes discipline.

Discipline, without a doubt, plays a huge role in the creation and growing of a successful business. Before embarking on a business venture, ensure that you possess the required levels of this important trait. It will make or break you.

About the Author: Kimberley Laws is a freelance writer, novelist, and avid blogger who writes about a wide variety of topics including physician reputation management.

SMB Authors

This article is one of the excellent contributions from small business owners, decision makers and professionals.