“Business owners experience a lot of ups and downs,” Ramsey said. “It's the nature of business. But, if you run your business the right way, and avoid a lot of the mistakes I made, the ups and downs don't have to be as drastic as what I experienced.”
Ramsey said some common mistakes business leaders make include believing they have to go deeply into debt to start a business. Conversely, they tend not to realize the investment of time they'll face and often make poor hiring decisions out of desperation.
But fear is the No. 1 reason many perfectly good business ideas never get off the ground, Acuff said. He recommends three ways to overcome this fear in his soon-to-be released book, “Start,” which promises to teach readers how to “Punch fear in the face and to do work that matters.”
His recommendations are:
• Write it down. Fears inside your head are big, loud bullies. When you write your fears down on a piece of paper, you can see how small and silly they are.
• Refute it with some truth. Just make it clear to your inner voice that the negativity and fear it voices is not the truth.
• Share your fears. “Fear's terrified of community,” Acuff said. Voicing your fears and finding others who have similar fears can go a long way toward overcoming them.
To that end, Acuff recently launched www.nomorevoices.com, an online community where people can make comments such as “Even my own mother has said I should be done with school by now. What if she's right?” — Tina”
People can click “Me Too” and Acuff can share his thoughts in the comments.
To Tina, he replied: “‘Should be' are two toxic words. I should be a better dad. I should be a better husband. I should be a better wife. Beware anytime those words surface.”
And if you think you're not the type of person who is likely to become an entrepreneur, Ramsey said, don't be so sure.
“Different businesses require different personalities,” Ramsey said. “The most important thing for the business owner is to have a passion for what they are doing. You have to love what you are doing, or you won't want to stick with it.”
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Different businesses require different personalities. The most important thing for the business owner is to have a passion for what they are doing.”
Ramseyis bringing his expertise to Oklahoma City for an EntreLeadership 1-Day seminar.