How to Redefine Success as an Entrepreneur

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Entrepreneurship has become one of the most sought-after professions in recent years. Although it’s considered one of the most promising and profitable careers, it’s also one of the riskiest and most demanding professions. Like beauty, success lies in the eyes of the beholder, and creating your success standards can help you achieve your biggest goals.

Success isn’t one-size-fits-all, especially for business owners. Below are five tips to redefine success as an entrepreneur.

Get clear on your WHY

Whether you’re an entrepreneur or a doctor, getting clear on your why can help you stay focused and dedicated regardless of your circumstances. Any role comes with its unique set of challenges, and understanding why you chose your profession will keep you grounded and motivated. So, ask yourself, “Why do I get up every morning?”

Understand your values

Our values, also known as our guiding principles, help us understand what is important in life. While some might value security and wealth, others might prioritize adventure and challenge. Check out this list of common values and pick 3-5 that are the most important to you. Once you’re clear on your values, you can get a clear idea of what success means to you.

Create your own metrics

Fortune 500 and 40 Under 40 lists can make the average entrepreneur feel like they’ll never achieve real success. Let’s be honest, while getting on those lists isn’t impossible, it’s also not easy. A small percentage of businesses and entrepreneurs make it on those lists. So, instead of creating your goals based on numbers and goals established by others, why not create your own?

Get comfortable with failure

As entrepreneurs, it’s important to understand that the opposite of success is not failure. Most of us will have to experience a lot of failures to get anywhere near success, and that’s OK! The moment you realize that your failures don’t define you, the sooner you’ll reach success.

Stop comparing yourself to others

Social media has made it nearly impossible to ignore outside noises. We’re constantly bombarded with updates from colleagues and friends about their new ventures, recent achievements, and how their business made it on that Fortune 500 list. While being in the know is critical to entrepreneurs, knowing when to tune out is also important. If you struggle with comparison syndrome as I do, I recommend limiting your screen time and focusing on celebrating your wins instead.