After all the revelry and good cheer have passed, it’s time to prepare yourself for the next 365 days. Instead of making resolutions, get motivated to start 2023 right by going through our list of inspirational quotes from successful entrepreneurs. Their message will compel you to hit the ground running faster than a cup of triple espresso.
Why New Year’s Resolutions Are A Waste Of Time
What’s the most popularly-made New Year’s resolution?
“I resolve to lose weight.”
What’s the most popularly-broken New Year’s resolution?
“I resolve to lose weight.”
If New Year’s resolutions were effective, then obesity wouldn’t become a global pandemic.
Resolutions are a waste of time because they’re more emotional than rational; a “promise” that’s fueled by emotion – and maybe a few ounces of spirits – rather than mapped out by thought and purpose.
A resolution is a statement that seeks to exonerate you from the failures of the past by making a proclamation or declaration – oftentimes in the company of others – that you’ve learned from your mistakes and will come out of the cocoon of New Year as a “New You”.
If we’re not on the same page, studies have shown that only 19% of resolution-makers actually push through and succeed on whatever it was they resolved to do.
Going back to our “to lose weight” analogy, 67% of gym memberships go unused a few months after signups. That’s why commercial gyms are particularly busy in the month of January and operate on a subscription-based business model because they know you won’t be back.
Commercial gyms predicate their marketing campaigns at the start of the New Year on the platform of failure – your failed fitness goals.
While 2023 is a New Year, 01 January 2023 is just 24 hours removed from 31 December 2022. It’s just a new day. You don’t get a fresh, clean slate every New Year. Instead of signing up for a gym membership in the New Year, why not just commit to physical activities that you enjoy and are sustainable?
Whatever remained unresolved from the previous year will have to be resolved in 2023. That’s why you don’t need a New You because there’s nothing wrong with the Old You.
8 Inspirational Quotes From Successful Entrepreneurs
Don’t become part of the 19%. Instead of a resolution, learn from entrepreneurs who’ve been there and eventually found great success as entrepreneurs.
1. Sir Richard Branson, founder of Virgin Group of Companies
“If someone offered you a wonderful opportunity but you don’t know how to do it – say ‘Yes’ – then learn how to do it later.”
Opportunities don’t happen every day. They come when you least expect them. That’s why you should grab every opportunity that falls on your lap because you might never get another chance; maybe ever again.
And what if the opportunity falls outside your core competence? Then, hire people who can help you out or run the business with you.
For example, if a big company offers you to handle all of its administrative and non-core functions but your skills are limited to personnel training, then contract the services to accountants, IT specialists, marketing experts, experienced sales managers, customer support professionals, and other areas of responsibility required by the potential client.
After all, you can’t run a business on your own. You need other people with various skills to help you out. You can hire them directly, create a partnership agreement, or simply outsource these tasks to them.
2. Walt Disney, founder of Disney Company
“All of our dreams can come true if we have the courage to pursue them.”
There are dreamers and there are doers. The best option is to be both; dare to dream but make sure you pursue your dream and turn it into reality. In the world of entertainment, there’s no bigger dreamer than Walt Disney.
Yes, starting a business can be scary. While you reap the benefits of what you have sown, you also account for the entire risk. But you’ll never know for sure until you’re actually running a business.
There are ways to mitigate the risk and give you the courage to pursue your entrepreneurial dreams.
First, start out small. The scale of your business must be manageable so you can track the costs, oversee its growth, and easily identify potential pain points.
Second, don’t give up your day job. This is one of the benefits of starting out small. You can allocate time for a stable 9-to-5 job while your business is still in the early stages of growth.
Third, get partners and spread the risk. Sure, profits will also be shared. But when you’re starting out, managing the risk elements becomes more important. Having trusted partners onboard your business will ease the pressure off you.
3. Bill Gates, founder of Microsoft
“Your most unhappy customers are your greatest source of learning.”
No one likes to get criticized. As an entrepreneur, your passion fuels your conviction that you have the greatest product in the market. But the truth is, you can’t please everybody and not everyone will have the same opinion about your product.
You shouldn’t take customer complaints personally because these come with the territory. No matter how much effort you put in to maintain consistency in product quality, you’ll still rub some customers the wrong way.
Change your perspective and view customer complaints as opportunities to improve your product and build stronger, more trusting relationships.
An end-user views your product from a different filter. His input will provide valuable insights on how to make your product or service better. These engagements can lead to “aha” moments.
And customers will appreciate the fact that you took the time to listen to them and implement their suggestions. By making them a part of the product development process, they will feel more like partners than just customers.
4. Warren Buffett, founder Berkshire-Hathaway
“It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.”
Entrepreneurs enter business for profit. You can generate profit by improving income levels and/or efficiently managing costs. No matter how successful and profitable your business is, any opportunity to earn more money can be tempting.
The “High Risk, High Reward” principle holds true with these types of opportunities. What are you willing to do to realize the quick profit? Is the risk worth it?
Look at what happened to Enron.
At its peak, the energy company’s shares were valued at US$90.75. When it went bankrupt, its share value dropped to US$0.26. Enron manipulated its accounting and created non-existent holding companies to hide its debt problems from regulators.
From being the recipient of Fortune magazine’s “America’s Most Innovative Company” award for 6 straight years (1996 to 2001), Enron became the most hated company in America. Its greed led to thousands of employees losing their jobs.
When things start to fail, remember that you’ll always have your name. As long as you have your reputation intact, you’ll always have a chance to recover.
5. Adam Osborne, founder of Osborne Computer Corporation
“The most valuable thing you can make is a mistake. You can’t learn anything from being perfect.”
What makes entrepreneurs different from the average daydreamer? The entrepreneur is willing to take risks to pursue his dream of achieving financial independence by starting a business.
Starting a business is one thing. Running it is another. To run a business entails making decisions – and not all decisions will be the right one.
Even with all the commissioned studies, consultations with credentialed professionals, and team meetings – you’ll still make mistakes simply because there are variables that you can’t control.
But decisions still have to be made.
If you’re afraid of making mistakes, you won’t make decisions and your business won’t move forward. Either way, you’ll end up losing.
Don’t be afraid of making mistakes because the perfect plan doesn’t exist. Failure is your greatest teacher because it reveals your weaknesses and flaws.
What you can do is anticipate the possible unfavorable scenarios and gameplan alternative courses of action. This way, you’ll be more prepared to handle the situation if your decision doesn’t result in the preferred outcome.
6. Reid Hoffman, Co-founder of LinkedIn
“If you fine-tune it that you have zero chance of failure, you will also have zero chance of success. The key is to look for ways for when you get to your failure checkpoint, you know to stop.”
Passion can be a double-edged sword. It can fuel your drive to succeed but it can also be the fuel that burns money and financially ruins you.
It’s hard for many entrepreneurs to accept failure because they’ve sacrificed a stable job for the opportunity to run a business and become the boss. You might have thought “Losing is not an option. I cannot fail in this business.”
The problem with that mindset is that you’re closing off all possible outcomes. By doing so, you won’t be ready when the unthinkable finally happens.
That’s why in times of war, a high-ranking General or Field Commander will remind the soldiers of the possibility they might never come home to see their families. This reality check keeps soldiers more focused on the battlefield because they want to see their families back home.
Accepting the possibility of failure will also let you know when to surrender; live to fight another day.
Setting a failure checkpoint is not meant to scare you but to make sure you don’t lose everything – including the shirt on your back – and still have the resources to reset and restart the business.
7. Arianna Huffington, founder of Huffington Post
“One of the greatest skills of leadership is to be unflappable. Anytime you do anything in the world, there’s going to be criticism.”
As an entrepreneur, you’ll get your fair share of critics. Your employees, managers, co-founders, and customers can and will criticize you. Like a “Couch Quarterback’, there will always be someone who believes he can do a better job than you.
Talking behind your back has been taken to a new level by the Internet. Your management style will be dissected by online groups and social media. Sometimes you’ll learn about it and sometimes you won’t but be 100% sure these criticisms will happen.
If you let these criticisms get to you, you’ll never be able to do your job properly. You’ll be pulled in different directions by all of the opinions and suggestions.
That’s not to say all forms of criticism are bad. Some are good and are relayed in a constructive manner. Thus, keep an open mind and consider these criticisms as educated and sincere suggestions designed to help you succeed.
Do what you believe is right but don’t hesitate to consult with critics who have your best interests at heart.
8. Joanna MacFarland, Co-founder of HopSkipDrive
“It’s important to realize that a brand is more than just a logo and a slogan. A brand is who the company is; how you function and make decisions.”
Coffee lovers will naturally complain if Starbucks decides to increase the price of their favorite brew. But they’ll still pay for it not only because Starbucks makes good coffee but oftentimes, the price increase is for an honorable cause.
The Starbucks Foundation has consistently donated millions of dollars – and coffee – to several non-profit organizations to support educational programs, alleviate poverty conditions, environmental protection programs, and other initiatives.
Its logo has become iconic and has come to represent excellent quality in product and service, and the values of generosity, respect, and selflessness.
When you design a brand and conceptualize a slogan for your business, always think of your non-negotiable core values – the attributes that best describe who you are.
As non-negotiable, these values become the cornerstones of your decision-making process. Under no circumstances will these core values be compromised.
You are your brand and your brand is you. That’s how you achieve long-term, sustainable success for your business.
If 2022 was a good year for your business, use 2023 to continue to build on the success.
If 2022 wasn’t a good year for your business, use 2023 to learn from the experiences and rebuild.
As another famous saying goes, “Success is never owned; it is rented and rent is due every day.” 2022 might not have been your year but it doesn’t mean you’ll never find success.
Keep pushing, keep grinding, and keep staying motivated. In time, with patience and with consistency, you’ll eventually find success that was once fleeting.
We hope our article inspired you enough to be excited about your business prospects in 2023. If you enjoyed this article and would like to have similar ones written for your website, give us a call or drop us an email.
And yes, feel free to share it with your community and spread positive energy in the New Year!