In this text, we delve into the unconventional strategies utilized by 10 successful entrepreneurs to beat significant challenges along the best way. From early-stage founders to CEOs, these leaders share their unique experiences and suggestions, from taking breaks during business downturns to hosting reverse brainstorming sessions.
Dive in and discover 10 insightful strategies.
Take advantage of breaks during business downturns
Take a break and smell the roses!
One of the most important challenges facing all entrepreneurs is the economic downturn related to acquiring latest customers or stopping their business. Every business has peaks and valleys, however it is the valleys that scare us essentially the most. The time has come after we must maintain a gentle course and never deviate from our mission.
When I’m struggling to draw latest clients for a very long time, I find it extremely helpful to stop and pause before the frustration and fear overwhelm me. I’ll take a time without work, and even just a few days, and just do something I really like, like traveling or fishing. I want to reset my mind and spirit by doing something I really like and revel in. Then I’ll have the ability to return to the exit from the valley refreshed and full of latest enthusiasm.
It works each time.
Dirk FosterFounder
Diversify and stay consistent
One of the unconventional approaches that helped overcome the challenges on my entrepreneurial path is a diversification strategy combined with consistency. It could seem counterintuitive, but this mixture served as a compass that guided me through the stormy sea of entrepreneurship.
Diversification is about trying different solutions to an issue. This technique of exploration often points the method to a successful solution, even when it means wading through just a few that do not work. It’s like an iterative process through which each attempt, successful or not, brings us one step closer to the ultimate solution.
However, diversification alone is just not enough. It is consistency on this process that breeds success. By continually learning from our past experiences and applying these insights to future decisions, we develop a culture of resilience and adaptableness.
Rafael Sarim OzdemirFounder and president, Zendog Laboratories
Implement reverse mentoring
In our entrepreneurial journey, “reverse mentoring” was an unconventional approach we used to beat a major obstacle. Instead of the traditional top-down approach to mentoring, we encouraged our mid-level team members to function mentors to senior management, including me.
In this fashion, we used revolutionary ideas, fresh perspectives and technological knowledge of our young talents. They provided insights that challenged our conventional pondering and introduced a up to date perspective to problem solving. This approach not only nurtured a culture of collaboration, but additionally empowered and motivated our younger employees.
The final result was a dynamic and versatile organization that embraced innovation and responded quickly to market changes. Adopting reverse mentoring not only solved the initial problem, but additionally became an everlasting practice, enriching the range of considered our team and paving the best way for everlasting growth and success.
Michael CallahanFounder and Director, Callahan Law Firm
Use unique recruitment strategies
Once upon a time, my company needed to rent a specialist for a selected task. I attempted finding this person on regular job sites, however it didn’t work. So I did something different. I researched corporations that had the specialists I needed and discovered contact them. Then I made a movie. In this video, I explained an exciting project I used to be working on and why I assumed they need to join me in making it a reality.
Potential employees really liked this unusual method. I finally hired the specialist I used to be on the lookout for. It showed me that sometimes you wish courage to unravel difficult problems.
Martin Potockigeneral manager, Jobera
Focus on area of interest communities
When starting a podcast production agency, you frequently face the challenge of standing out in a saturated market. Instead of going after big clients instantly, a useful strategy could also be to deal with area of interest communities and provides them your A-game. This approach lets you reach passionate audiences with specific interests, which helps you gain dynamism and credibility.
As we grow, word-of-mouth recommendations play a major role, making it possible to begin cooperation with such big brands as PepsiCo and Booking.com. Therefore, the suggestion can be to search out a distinct segment, deliver exceptional value from day one and enable satisfied customers to turn into brand ambassadors. It’s an unconventional approach, however it has proven to work wonders, and continued success may be achieved by staying true to the unique podcast formula.
Harry MortonFounder, Lower street
Maintain the confidentiality of your entrepreneurial ventures
When I began CultureAlly, I read every part I could about entrepreneurship. The same advice was given time and again: the important thing to success is to create networks, networks, networks. However, I did exactly the alternative. I didn’t tell anyone.
For the primary yr of being self-employed, my family thought I still worked a 9-5 job. The reason I didn’t share the story of my fledgling business is because I used to be uninterested in the stereotypes I used to be subjected to as a female entrepreneur. Asking questions like, “Do you have any revenue at all?” it became tiring. It was like there was some unspoken expectation that I would not have the ability to hack it.
So I kept my mission to myself. I went out and built my company. Technology company. And now, as I grow and work with amazing people, I’m comfortable to share my story. And hopefully future women entrepreneurs might be somewhat less typecast!
Ashley KellyCEO and co-founder, Cultural Ally
Integrate mental health techniques
One of the unconventional strategies I adopted as an entrepreneur was to integrate mental health techniques, specifically for work-life balance and productivity. To ground myself, I incorporated mindful meditation and deep respiration exercises between high-pressure tasks. Instead of the same old coffee breaks, I sometimes decided to take short walks in nature, allowing the peace and fresh air to clear my mind and sharpen my intuition.
Additionally, spending just a few minutes visualizing positive outcomes before attempting difficult tasks helped me stay focused and mindful.
Bayu PrihanditoPsychology Expert, Life Coach, Founder, Architecture of Life
Track time to administer your work
As an entrepreneur, you do not have to trace your working time, but I find it a helpful tool for managing it properly. I log every minute I spend on tasks like email, admin, projects, business planning and more so I can review every part and break down my day.
Once every part is logged, I can see which tasks are taking over more of my time than they’re value and focus my efforts on finding alternative solutions. Sometimes I take advantage of delegation to administer additional tasks, and other times I’ll find automated solutions or just restructure my schedule for a more efficient workflow.
Time tracking gives you the information it is advisable to make smarter decisions concerning the resource that sometimes seems most limited – your time.
Marnix BroerCo-founder and CEO, Studok
Consider quitting smoking as a method
Just just a few years ago, I could not imagine giving up anything in my life. No matter what the obstacle was, I just kept fighting and fighting until I overcame it – often at great personal cost.
The other day I watched a TED talk on the facility of quitting smoking. In short, the thesis is that this: sometimes it’s value letting go. No matter how proud we’re, fighting against serious obstacles is solely ineffective. Since then, I even have viewed quitting smoking in a totally different way.
You must remove pride out of your decision-making process. Often, your time may be spent more productively in other areas. Consider where you’re going to get the best return in your investment (namely time). Will overcoming the obstacle require months of tenacious struggle? Or perhaps by changing direction, identifying the following opportunity and making the most of it? I believe it is the latter.
That’s why I say that should you encounter a major challenge in your entrepreneurial journey, do not be afraid to simply quit on it.
John Rossgeneral manager, Insights into test preparation
Organize reverse brainstorming sessions
One of the unconventional strategies I used to beat a significant challenge in my entrepreneurial journey was to arrange a “reverse brainstorming” session with my team. Instead of trying to search out solutions directly, we deliberately identified ways to exacerbate or make the issue worse.
This approach allowed us to uncover hidden assumptions, change our perspective on the issue, and gain a fresh perspective on potential solutions. By gaining a deeper understanding of the foundation causes of the issue, we were in a position to develop revolutionary and effective strategies to unravel it, which ultimately led to a successful resolution and a worthwhile learning experience for our team.
Brian ClarkFounder, United Medical Education