Why You Need to Know Yourself Better to Succeed as an Entrepreneur

Today the focus will be on the fact that taking the step to become an entrepreneur is a personal decision and why it is highly important to know yourself thoroughly to ensure that your decision to become an entrepreneur is something that will be good for you on the longer run.

Taking the step to become an entrepreneur or starting your own business is a highly personal choice and you will have your list of reasons why you are making this life-changing decision. It can be to generate a better income, to have more free time to spend with your family or to pursue something you are passionate about – to name but a few.

Know yourself   – Who am I?

Why You Need to Know Yourself Better to Succeed as an Entrepreneur

Knowing yourself within a personal and business environment is something that will be highly beneficial for your business. Why? When you know yourself, you know your strengths, weaknesses, shortcomings, your goals and ideals for the business. By being aware of the above aspects of yourself, you can plan accordingly to ensure that you can build on the areas you are good at, and hire staff (or make use of an advisor) to bring in expertise on the areas where you are not the expert at.

It is highly recommend that you start with the journey of self-discovery as soon as possible. To know yourself is a tool to grow your business in ways you cannot yet imagine. This will be discussed later in the article.

Let’s start with a list of basic questions. Take some time to think about the questions and write it down to review at a later stage.

  • What are my personal needs?
  • What are my needs for my business?
  • Why am I starting (or why did I start) this business?
  • What do I think are my strengths in this business? Write down all aspects including experience and knowledge of the industry.
  • What do I think are my shortcomings in this business?
  • Do I have any personal limitations (time constraints, family obligations etc.) in the business and how will this affect the way I have to service my clients?
  • Do I need training or further development to properly run my business, and if so, what training do I need?
  • Do I feel comfortable to work with a team or am I a person who works better alone?
  • Am I comfortable with dealing with customers in person, and if not, is this something I need to work on?
  • What do I think can make me feel overwhelmed or cross my personal boundaries within this business?

After writing down your answers, review it over the matter of a few days. The journey to know yourself will take time and as you discover something new your answers are sure to take some shape.

What are beliefs – and what are mine?

Why You Need to Know Yourself Better to Succeed as an Entrepreneur

A very important aspect we did not touch on in the above section is personal beliefs. To know yourself, you have to know your own beliefs – the set of rules your life your life by, so to say.

Beliefs, in layman’s terms, are the set of abstractions through which you experience and create your life. Your belief system influences your decisions, and your decisions influence your actions.

As an example, if you have the belief that when you need something done you would rather do it yourself since you do not trust someone else doing it, you would most probably be prone to handle all tasks yourself or run a business where you are the only employee. While this might work well for you, you are missing the opportunity of having valuable input from others to improve the overall approach.

Since beliefs are highly personal there is no measure to say that you are right or wrong about something. It is the set of rules you live your own life by and it determines how you make your decisions. The importance of your beliefs is that it shapes the way you think about your life (and your business) and it makes you the person you are. Knowing what your beliefs are will help you to know yourself.

A healthy belief system is based on your own experiences, not on the input of others and will change with time. Outside input such as religion are excellent guidelines – yet not something formed by your own personal experiences. Why? As we continue in life, we experience new things that impact the way we see life and to which we adapt our outlook and belief system, whereas religion is a constant. Since the world and business environment are ever changing we are required to adapt to stay with current trends and be competitive in the market.

As an exercise, write down the things you feel are your personal beliefs. Think about the way you feel about society and what you feel is acceptable. Think about the things your personally dislike. Think about the “rules” you have for yourself and what you measure others by. Keep this note in a safe place, and review it every 3 to 6 months. You will see that some of it has changed and that some items might not be applicable anymore. To notice how you have changed personally is an incredible journey to know yourself.

Know yourself – How does it influence my approach to business?

Why You Need to Know Yourself Better to Succeed as an Entrepreneur

By knowing yourself and your belief system, you are in a position where you have an honest point of view to evaluate where you are in life and also what your business needs to grow. Since you are self-employed or an entrepreneur you are indeed the core of your business. The better you know yourself, the better you can make an informed decision toward your business approach.

Knowing yourself can show you clearly if you are in the right type of business. Sometimes we jump at business opportunities without thinking if it is something we can enjoy and find job satisfaction in; we only think about the income it can generate. Over time, if the business is not suited to who you are, you will become unhappy and it will influence you negatively.

When you know yourself you will be aware of your shortcomings. This can be supplemented by your team of employees. By knowing exactly where (or for what) you need the expertise of others you can build a dynamic business which offers a full-circle offering. Customers are much more prone to return to a strong team providing excellent service – a direct benefit for your business.

By knowing yourself you are aware of your beliefs and also limitations. It becomes easier to impart your beliefs into your business in order to make it a favourable environment for you to function in. A favourable environment will ensure that you less frequently reach a feeling of being overwhelmed and generate a feeling of well-being sprouting from job satisfaction.

When you know yourself you can be yourself. You do not have to compensate according to outside belief systems. It has been shown that being authentic in business is a major factor of attraction since you are more confident, relaxed and assertive. As a result you become more relaxed as you are nothing but yourself and you tend to enjoy your job more.

When you are going through a tough time or might be having a bad day, knowing yourself and what you can do to improve the situation for yourself can save the day! While only applicable to yourself, this can save the entire team or your customers of being impacted by your interaction when not being in the best personal space. In many situations this can be the difference between returning customers and the general happiness of your staff.

How can I change my beliefs to improve the negatives?

Why You Need to Know Yourself Better to Succeed as an Entrepreneur

A part of your belief system has negative connotations and that is the largest source of your personal limitations. This could have formed from negative experiences, trauma or a lack of belief in your own abilities. Once you know yourself, you can address the aspects of yourself that requires positive change.

The first step towards changing negative beliefs are to know yourself and setting your goals based on your identity. Instead of building your identity on things such as financial success and possessions you take care to first know who you are, what you want and then use that as a platform to build your business goals on.

When you know what your negative beliefs are, you can make a conscious choice to correct them by taking actions that you feel would be an improvement. This is the second step. As an example: If you do not feel confident to communicate with your customers, you can make the conscious effort to greet them and ask them how they are. It is a simple question that not only starts a relaxed conversation, but also makes the customers feel you have a personal interest in their well-being.

You also need to know yourself well enough to admit that you can make mistakes. It is perfectly normal to not succeed at the very first try. Exercise makes perfect and improves your ability. Better yet, repetitive actions made by choice to correct limiting beliefs will cause your experiences to change. As we know by now it is our experiences that influence our beliefs, so in this case, erring might be beneficial to us! It also forces you to look inside and re-evaluate if you really know yourself well enough to make this change.

We are help to help you: The journey towards knowing yourself might be a daunting exercise since you might not have the knowledge and the tools on how to do it properly. Our programmes are expertly designed to guide you on this part to you discover who you are and how it can benefit your business.