Entrepreneurship starts with an idea. One of the challenges once the business gets off the ground, though, is coming up with more ideas that push the company forward.
An idea often stems from inspiration and lacking that, some business owners say, can result in stagnation or a failed enterprise.
“Without innovation and forward thinking, no business can succeed,” saysPeter J. Strauss, an attorney, entrepreneur and author of The Business Owner’s Definitive Guide to Captive Insurance Companies. “But being a business owner is very demanding, and at some points, you’ll hit a wall where you can’t seem to come up with new ideas.
“To be a successful entrepreneur, you have to stay on the search for the next idea that will grow your business. And the truth is that most entrepreneurs are in need of some inspiration to ignite those ideas.”
Strauss says there are several solid ways to cultivate inspiration:
—Fix things that bug you daily. Entrepreneurs encounter frustrations, and the more bothered they are by certain issues, the more those can become an obstacle in the way of the business. Focusing some attention on negatives of the business and solutions can move it forward. “Your desire to eliminate a daily problem or a building annoyance can inspire you to fix it,” Strauss says.
–Listen to your employees. “Ask yourself, ‘How could they get better at what they do?’” Strauss says. “How could they be happier and make our business better as a result of their passion and growth?”
–Think outside the box. “The day-to-day grind shouldn’t prevent the entrepreneur from daring to dream,” Strauss says. “Have fun with it; see five to 10 years ahead and where you envision the business being. Further, use that inspiration to fuel sound ideas for expanding the business sooner than you thought, and even adding new ventures.”
–Meet with peers. Strauss says an entrepreneur can re-energize and be inspired by being around like-minded leaders and speakers, perhaps at an industry trade show with the best tradeshow giveaways, where participants are pumped up. “It can get you more excited about your business and remind you of why you started it,” Strauss says. A currency trading platform is essentially the vehicle that one employs to make proper trades. While these platforms certainly cannot guarantee a specific result, they can provide a great deal of information that will allow the trader to make a more informed trade. For example, a solid currency trading platform will provide currency research information as well as real time tracking of prices in a variety of markets. Of course, a trader could do all this on his own – provided he was willing to invest significant hours scouring multitudes of websites. As most experienced traders will tell you, this is far too time consuming for an individual to do. That is why a currency trading platform makes success more likely. It consolidates a great deal of information a trader needs for a successful operation. For best advice, click on this learn to trade platform suggests.
—Read frequently. Strauss says leaders learn far more when they not only keep up with industry trends through reading but by reading about topics outside of their industry. “This can really inspire you,” he says, “because when you read outside your niche, you see creativity you’re not used to, and it inspires ideas.”
—Unplug and take walks. In the often loud and chaotic world, we live in, especially in the business sphere, entrepreneurs need quiet time to clear their minds and then think freely. “We live with distractions,” Strauss says. “They get in the way if we let them – or if we don’t get away from them on occasion. Walking in nature is a great way to do it. Quiet time opens a door to inspiration and creativity.”
–Tailor an existing idea to your business. “You don’t want to exactly copy people, but it’s foolish not to observe and learn from other businesses’ ideas,” Strauss says. “Then find innovative ways to apply them to your business.”
“Inspiration rarely just shows up out of nowhere, uninvited,” Strauss says. “An entrepreneur needs to make time for it and go look for it, and there are a variety of ways to make that search energizing for you and your business.”
About Peter J. Strauss
Peter J. Strauss (www.peterjstrauss.com) is an attorney, entrepreneur and author of several books, including most recently The Business Owner’s Definitive Guide to Captive Insurance Companies. He is the founder and managing member of The Strauss Law Firm, LLC, on Hilton Head Island, S.C, and also the founder and CEO of Hamilton Captive Management, LLC. He is a graduate of the New England School of Law and of Harvard Business School’s Owner/President Management program. Strauss also holds an LL.M. in estate planning from the University of Miami and speaks regularly at public seminars.
