Finding Purpose for Your Small Business

In a recent Harvard commencement speech, Mark Zuckerberg explained how a lot of big companies wanted to buy Facebook a couple years into his venture. Many of friends and colleagues told him to take the money all the way to the bank.

But Zuckerberg held onto his business a little bit longer. He felt the company was fated for something better and bigger, but he was plagued by doubt.

Finding Purpose for Your Small Business

Credit: Getty Images

“That was my hardest time leading Facebook. I believed in what we were doing, but I felt alone. And worse, it was my fault. I wondered if I was just wrong, an imposter, a 22-year-old kid who had no idea how the world worked.”

You might think self-doubt is only an issue for inexperienced entrepreneurs. After all, Zuckerberg really was just a kid when he launched Facebook.

But research shows it’s much more pervasive. And it “increasingly appears critical for understanding some of the surprising, ironic, and self-defeating cognitive, emotional, and behavioral findings seen in the achievement realm.” All entrepreneurs experience it at some point.

Zuckerberg beat self-doubt by finding a higher purpose in his work. What else can you do?

Here are some great tips for conquering this tough challenge:

RECOGNIZE THAT CONFIDENCE TAKES TIME.

True confidence is built on layers of success. But to succeed, you will inevitably experience failure along the way. Be patient. When you run into a problem, never view it as the end of the world. It’s just another bump in the path to long-term success.

In the wise words of Bill Gates, “Success is a lousy teacher. It seduces smart people into thinking they can’t lose.”

If anything, challenges can make you more confident. If we encounter problems, we can adjust our plans and still be successful.

PRIORITIZE YOUR PHYSICAL WELL-BEING.

It sounds simple, right? Everyone knows you’re “supposed” to eat right and get exercise. Research from as far back as 1985 suggests physical activity and exercise improve self-image and cognitive functioning, and they reduce the symptoms of anxiety.

Eating healthy is equally important. Another research study from 2015 found that eating more fruits and vegetables can enhance feelings of well-being, curiosity, and creativity.

REMEMBER YOUR PURPOSE

In his speech, Zuckerberg explained how he truly believed in his company’s purpose. That’s what guided him when he felt lost. Even when all members of his management team left, he still held on. And it paid off — big time. You need to remember — and believe in — your long-term vision.

In most startups, success comes in waves. You’ll see a series of successes, then a series of failures. Stay true to your long-term purpose and work until you achieve it.

Remember, as Zuckerburg said, “Movies and pop culture get this all wrong. The idea of a single eureka moment is a dangerous lie. It makes us feel inadequate since we haven’t had ours. It prevents people with seeds of good ideas from getting started.”

Don’t let self-doubt prevent you from doing big things.

Call Scott A. Kunkel, CPA PC today in North Richland Hills at 817-498-1040 to have a chat and find the best way to grow your business.  

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Source: Inc.

Scott A. Kunkel, CPA, PC

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