Passionate Entrepreneurs Can Take a Page Out of the Best Salespeoples' Playbook

Is there a key nuance of a great sales person that is not often talked about that could be useful for entrepreneurs? After all, both are in the revenue generating function with varying degrees of involvement. Let's consider the following four points: 

1. Framing the context: An entrepreneur meets a customer.

Now imagine that you meet a potential customer under two circumstances -- when your customer pipeline is brimming full, and when your customer pipeline is empty. Would you handle the two situations differently? How you could rate your self-esteem under the two scenarios? Will your communication send different messages under the two scenarios? 

Great sales people do not let paucity or an abundance of business dictate how they handle a potential client. How do they do that? It is a riddle worth exploring and sharing. At the root of it is a deeper understanding of passion -- quintessential for connecting with your audience. 

2. A page from the best sales peoples' play book

Best sales people are always even-keel in their approach toward a prospect, whether they are exceeding goals or starting the year afresh. They have a firm handle on the degree of passion. They go so far, but no further. They are passionate but have a healthy detachment to the outcome and more importantly their current performance status. Although, such small nuances are lost in translation, it aligns with research on harmonious passion.

3. Degree of passions

There is an interesting empirical research by psychologist in the European Journal of Social Psychology that explores the relationship between passion and self-esteem. What is unique about this research is that they do not talk about passion as one word, but split it into degrees of passion. Their research concludes that lower the variability of passion in a person, the higher the self esteem. In other words, lesser the yo-yo of passion dictated by circumstances, the more positive self-esteem. They even coin a phrase for that -- harmonious passion.

4. It all starts with the handshake.

The bigger question is -- how does a great salesperson pull it off, while the same situation will confound the average salesperson?

• It starts with the handshake. A great sales person matches the pressure the customer exerts in a handshake. Being extra conscious of the most basic gesture is a starting point.  
• Most passionate people are interesting first and interested second. They very best people flip the order. Great sales people know their chops. Catch them in a social setting and express an interest in what they do, and their depth of domain expertise will amaze you. However, when they get an opportunity to meet a prospect who may be interested in what they have to offer, they temporarily suspend their urge to share the synthesis of their knowledge and hard work. In essence, they restrain themselves from doing the natural thing. Instead, they let their passion ebb into the natural flow of conversation that mirrors client’s wavelength.

In a nutshell, great salespeople know where to draw the line between being passionate and being married to an idea. That nuance takes them afar from the rest of the pack. Entrepreneurs, the passionate kind, can take a leaf out of their playbook.

If a coin toss is a metaphor for meeting different customers, outcomes of past coin tosses have no bearing on the outcome of the current toss. Yet, when it comes to people and their success, history has a way of creating a mental euphoria or a baggage. Unshackling it is easier said than done, but being self-aware is the first big step -- mirroring the magic handshake is where the harmonious passion begins. 

Karthik Rajan

The Best-Kept Secret of Entrepreneurial Sales: Be Yourself

I clearly remember the evening I received a phone call from a leader at a well-regarded start-up accelerator. Our conversation centered around sales. “Can you speak to our entrepreneurs on sales?" the principal asked. "Most of our entrepreneurs have great ideas; most are inventors, engineers or numbers people. They do understand the importance of sales/revenue generation.

But: "They do not seem to enjoy sales," he acknowledged. "It is not their forte." 

I considered the invitation and replied that before accepting, I first needed from each of the entrepreneurs some data about the top two sales-related items on their minds. Thanks to Google Forms, my request was quickly fulfilled, And, I duly noted, the beautiful thing about free form expression of thought is that it encourages people to articulate their needs, in the form of questions embedded in their subtext. Looking for the trends, I pulled out five implicit questions:

1. How do I find my targets efficiently?
2. How do I build credibility in the first meeting?
3. How do I build trust?
4. How do I take it to the next meeting?
5. How do I get long-term engagement?

While looking for these connections, I experienced a "light bulb moment"; I even chuckled at the idea. I was actually looking forward to the discussion.

'Be yourself.'

The day arrived. Once everybody settled in, I posed the first question: “When you hear 'sales,' what comes to your mind?” I then listened patiently to an earful about used car salesmen, comparisons to aggressive recruiters and diatribes on morals and ethics. And I picked up on the near-consensus that sales as an activity might be necessary, but was not not these entrepreneurs' cup of tea. 

I next projected those five questions on the wall. “If we get some answers to these questions, is that a useful discussion on sales?” I asked. There was a collective nod in the room.

If that is the case, I told my audience, referring to their grin and bear it attitude toward sales, the answer is, “Just be yourself. That is the secret of success in sales.” Nods quickly morphed into perplexed faces, as a collective skeptical look was directed my way.

I redirected those looks back to the five questions. “Please re-look at the questions -- the context of the first four questions could be a first date," I said. "Your success in that arena could bode well in a sales meeting.” There was a perceptible giggle among my listeners.

Sales is a lot like dating.

With that statement, I projected a couple of statistics.

• Percentage of married couples first introduced by someone they mutually know -- 63 percent

This stat is powerful, as it keeps the end goal in mind. Drawing parallels, converting a target into a customer, the best odds occur with customers who are introduced by a mutual acquaintance. That is the headline-grabbing part. There is another stat that gets little attention, but provides a good dose of realism:

• Percentage of first dates arranged by friends moving into a second date: just 17 percent

Even if you get ten dates arranged by friends, on average, eight may evolve into rejects/no gos for a second date. In other words, approximately only two in ten first dates get to the second date. Keep this perspective when some well-meaning customer introductions through referrals do not lead to second meetings! Rejections are the anathema of motivation; this larger perspective on odds is a wonderful counterbalance.

Circling back to the audience, when this conversation first started, folded hands and relaxed, pushed-back seating had been the norm in the room. But at this point, many attendees were leaning forward, with coffee in hand, absorbed in the statistical analogies I offered. Entrepreneurs usually like to work in environments they can control. So, while sales might seem like an afterthought worthy of delegating to a professional sales person, dating was not!

What matters.

Having engaged these entrepreneurs' attention, I next added, "Now, I am interested in your thoughts on what works/ does not work on a first date.” What followed was a mixture of sparks, deep thinking, reflections on missteps and some all-out zingers. I took my marker and started jotting down the synthesis of what, for my listeners, "works." The two leading areas of consensus that emerged were:

• Good listeners
• Sharing of related stories, experiences -- a two-way connection

I then posed a follow-up question: “How much time do you spend preparing [to talk] about you before the first-date meeting?” Not much, was the answer. But many ventured to add that they do spend some time researching their dates online!

Drawing a parallel to sales, I asked, should you, the entrepreneur, spend a lot of time preparing customized slides before every customer meeting or spend some time knowing more about the customer? After all, the customer might not explicitly acknowledge it, but he/she is looking for a "good listener." And, in this informational day and age, many customers do their research about you and your product before they accept your meeting. (Daniel Pink’s modern-day book To Sell is Human delves deep into this new internet age paradigm of informational parity.)

I personally believe that listening and credibility have a high positive correlation, built on that age-old mantra: Understand before understood. Sharing of related experience back and forth builds on that.

It was getting time to end my talk. I did so with a question. “All of this is great," I said. "So, if all goes well, how do you ensure the next meeting?” I answered my own question: Just ask for the next meeting! I said. There was another set of chuckles in the room as we wrapped up the session.

Parting thoughts

"Sales" can conjure up different images and emotions, whether they be that of the old-fashioned used car salesman; an on-stage monologue; an enthusiastic, informative teacher; or a two-way, engaging date. The choice is yours. But if you choose the last option, the time you spend on preparing content will be the least you'll need among these four scenarios -- and time is one thing many entrepreneurs have in short supply. 

At the very least, it would be wonderful to spend those extra few hours saved, with family and friends. Above all, the biggest bonus would be that you could be your nice self and still be successful. And nothing beats that.

Karthik Rajan

The 7 Secrets Self-Motivated Entrepreneurs Know

How do some entrepreneurs overcome obstacles, maintain intense focus, exemplify ironclad discipline and create companies out of thin air? Genius? Luck? Some secret sauce of success?

Much of the answer lies in motivation. How do we define that? Psychology Today defines motivation as “the desire to do things.” An even more detailed definition explains that motivation is “the process that initiates, guides and maintains goal-oriented behaviors.”

When you see a rising entrepreneur star, what you’re watching is an incredible amount of motivation -- of goal-oriented behavior. Motivation is like jet power propulsion. It transforms individuals from passive participants into active leaders, maybe because they know what's in the secret sauce." Here are seven of those ingredients of motivation that the most successful entrepreneurs know.

1. They know what they are meant to do in life.

The motivation literature is vast and varied -- and it gets complicated. Yet, as diverse as motivational theories are, there’s a single thing that unites them all: Motivation answers the why.

Every human grapples with that enormous question of existence -- Why am I here? What’s my purpose? Although a definitive and data-backed answer to that existential question has hardly been forthcoming in the last few millennia, we can at least choose an answer for ourselves.

And, one answer, as esoteric as it may sound, is that the purpose of one’s existence is a fundamental principle of life. You’ve got to know why you’re living in order to truly live.

Choose a destiny, then. Define your purpose. Chart your course. Once you answer the why, you will have unlocked the first door on the path to constant motivation.

2. They know what they’re supposed to do each day.

Motivation starts infinitely broad, but gets infinitesimally detailed. When you know what you’re supposed to do in life, you can determine what you’re supposed to do each day.

That defines successful entrepreneurs. They enter each day with a defined set of tasks, goals and objectives. Leo Babauta, who writes the blog Zen Habits, calls these “big rocks.” He describes that special knowledge like this: "The big rocks are the major things you want to get done this week."

If you have several big rocks staring you in the face each week, then your goal each day is to chip away at them. Knowing that they are there and knowing you must conquer them creates a sense of motivation that won’t quit all day long.

3. They prepare mentally for each day.

Mere knowledge of the day’s plans isn’t quite enough. There must be another level of motivational power -- a psychological trick, as it were. The motivational Instagram account, before5am, explains that mental preparation is key. The author uses four hacks to boost his own motivation:

• Music is going to be the quickest way to snap your mind into a powerful state.
• On your phone you can create an album of the things you want in life.
• I look at my goals that are next to my bed straight away.
• Plenty of great motivational material is on YouTube.

Techniques vary, but the principle holds true: Mentally prepping before your day begins is the key to dominating during the day.

4. They refuse to rely on self-discipline alone.

There’s an aura of respect and esteem that surrounds self-disciplined people. The truth is, however, that self-discipline -- willpower -- is like a muscle. And, like all muscles, willpower can be fatigued through overuse.

Self-discipline, moreover, is limited. Benjamin Franklin was famous for his pursuit of moral perfection. At the conclusion of his perfection experiment, he wrote this: "I never arrived at the perfection I had been so ambitious of obtaining, but fell far short of it."

Self-discipline will fail you, but a deep and underlying motivation will sustain you. You can use self-discipline to enhance your efforts, but don’t rely on it.

5. They are the authors of their own rule book.

A self-motivated person has the courage to create his or her own rules for life. At the same time, all members of the human race are surrounded by other people, groups, subcultures and external forces. These groups will, quite naturally, exert an influence on one’s self perception, goals, vision, and dreams.

Yet someone who is able to rise above those external pressures and create his or her own guidebook for living will create enormous personal motivation.

Another way of saying this is that self-motivated people set their own standards. And, invariably, these standards are high:

• I will wake up at 5 a.m. daily.
• I will not eat sugar.
• I will not watch TV.
• I will work every weekend.
• I will eliminate toxic people from my life.

High standards can be hard to maintain. Yet they produce massive amounts of motivation, which in turn helps to fuel high achievement.

6. They develop insane goals.

Another way that self-motivated entrepreneurs push forward is by using the power of goals. Goal-setting does something to the mind. LifeHack’s Dustin Wax explains it like this: ""According to the research of psychologists, neurologists, and other scientists, setting a goal invests ourselves into the target as if we’d already accomplished it. That is, by setting something as a goal, however small or large, however near or far in the future, a part of our brain believes that desired outcome is an essential part of who we are -- setting up the conditions that drive us to work towards the goals to fulfill the brain’s self-image."

The science of setting goals basically says that the simple act of creating the goal helps to drive the accomplishment.

Meanwhile, some laugh at others' big goals. Some scoff at those goals. But other people set such goals. And they achieve great things. One of today’s most notable entrepreneurs is a great example of someone possessing “insane” goals: He is, of course, Elon Musk. Business Insiderhas said that, “Elon Musk sets nearly impossible goals for SpaceX employees" and that "SpaceX has a seemingly impossible objective -- the ultimate goal of enabling people to live on other planets."

But you can’t deny that such goals have thus far pushed Elon Musk and his SpaceX employees to achieve remarkable things.

7. They never lose sight of the goal.

Merely setting a goal does not by itself propel you to an unbreakable stream of a self-motivated existence. You have to keep those goals in mind all the time.

Every day. Stuck on the mirror. Dinging on your phone. Taped to your computer. Hanging on the wall. Running through your mind. Everywhere. Always.

Keep your goals at the forefront of your mind, and you’ll never lose motivation.

Conclusion

Self-motivation is one of the underlying forces that distinguish successful entrepreneurs from those who stagger from one neglected startup to another.

Self-motivation despises the role of luck, dismisses the component of self-discipline and looks to the power of goals for ultimate achievement in life.

Neil Patel

21 Success Tips for Young and Aspiring Entrepreneurs

Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to an entrepreneur, but not everyone can find one in person.

If you haven’t yet found your personal business guru, here are 21 tips for young or aspiring entrepreneur to help get you started.

1. Challenge yourself. 

Richard Branson says his biggest motivation is to keep challenging himself. He treats life like one long university education, where he can learn more every day. You can too!

2. Do work you care about. 

There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.

3. Take the risk. 

We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.

4. Believe in yourself.

As Henry Ford famously said, “Whether you think you can, or think you can’t, you’re right.” Believe that you can succeed, and you’ll find ways through different obstacles. If you don’t, you’ll just find excuses.

5. Have a vision. 

The founder and CEO of Tumblr, David Karp, notes that an entrepreneur is someone who has a vision for something and a desire to create it. Keep your vision clear at all times.

6. Find good people. 

Who you’re with is who you become. Reid Hoffman, co-founder of LinkedIn, noted that the fastest way to change yourself is to hang out with people who are already the way you want to be.

7. Face your fears. 

Overcoming fear isn’t easy, but it must be done. Arianna Huffington once said that she found fearlessness was like a muscle -- the more she exercised it, the stronger it became.

8. Take action. 

The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

9. Do the time. 

No one succeeds immediately, and everyone was once a beginner. As Steve Jobs wisely noted, “if you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in your company.

10. Manage energy, not time.

Your energy limits what you can do with your time, so manage it wisely.

11. Build a great team. 

No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.

12. Hire character. 

As you build your team, hire for character and values. You can always train someone on skills, but you can’t make someone’s values fit your company after the fact.

13. Plan for raising capital.

Richard Harroch, a venture capitalist, has this advice for upcoming entrepreneurs: “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

14. Know your goals. 

Ryan Allis, co-founder of iContact, pointed out that having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.

15. Learn from mistakes. 

Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success -- even though you initially failed.

16. Know your customer. 

Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.

17. Learn from complaints. 

Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.

18. Ask for customers’ input. 

Assuming what customers want or need will never lead to success. You must ask them directly, and then carefully listen to what they say.

19. Spend wisely. 

When you spend money on your business, be careful to spend it wisely. It’s easy to spend too much on foolish things and run out of capital too soon.

20. Understand your industry. 

Tony Hsieh, the founder of Zappos, once said, “Don’t play games you don’t understand, even if you see lots of other people making money from them.” Truly understanding your industry is key to having success.

21. Deliver more than expected.

Google's Larry Page encourages entrepreneurs to deliver more than customers expect. It’s a great way to get noticed in your industry and build a loyal following of advocates.

Being a successful entrepreneur takes a lot of work, a lot of vision and a lot of perseverance. These 21 tips, from entrepreneurs who have already found success, will help you navigate the path much more easily.

Sujan Patel

Efficient Living Life Hacks

Not enough time in the day to handle life's tasks efficiently? Get cracking with these tips! #entrepreneur #goals

http://bit.ly/1HbscsS

Startup CEOs Reveal the 1 Question They Ask Every Job Candidate

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The companies in this article were included in the Entrepreneur360™ Performance Index.

Part of the appeal of running your own business is that you get to hand-pick exactly who you work alongside each day. But let’s face it: it seems as if no matter how much you vet each candidate, you never quite know what you’re going to get.

The hiring process is challenging, especially for newer business owners. Determining whether an interviewee is well-suited for the startup environment is just the start. You must also consider whether they’d fit your company’s culture and core values, then take extra steps to ensure they’d complement your pre-existing team.

Click to Enlarge+

Image Credit: Namely

That’s why we asked a range of startup founders featured in theEntrepreneur360™ Performance Index their top, go-to question for potential candidates. Check out what they ask during job interviews and whether you should ask your potential hires the same thing: What's the one question you always ask when you interview someone? Why?

“If you didn't have to work, why would you come into the office?”

-- Gautam Gupta, co-founder and CEO of NatureBox, a monthly subscription service that delivers healthy snacks.
Why: I try to understand the person's motivations and interest.I also try to understand where they want to take their career and how NatureBox fits within that path. Lastly, I'm looking to gauge their intellectual curiosity.

“What are your career goals over the next 3-5 years?”

-- Matt Straz, founder and CEO of Namely, a cloud-based platform that helps businesses manage payroll, benefits and other HR needs.

Why: Millennials are leaving their employers twice as fast as those from older generations, making average tenure in a job about three years. With that said, I look for hiring opportunities that could surpass that time period. We invest in the employee’s development to keep them motivated to do great things because it aligns with their long-term career goals-- which is a win for the company.

“Why do you do what you do?”

-- Joe Coleman, co-founder and CEO of Contently, a software business that helps companies build audiences by managing the workflow of premium marketing content at scale.

Why: By the time I interview someone, several people whose opinion I trust have already signed off on them, so I’m really just trying to get to know the candidate. I try to get a sense of why they do what they do, their background, and what motivates them. At the end of the day, it’s really important to hire people who contribute to the culture in a positive way.

“I don't ask questions; I talk to them.”

-- Jamie Siminoff, CEO and chief inventor of Ring, the maker of the Ring Video Doorbell which allows users to answer the door from anywhere via smartphone.

Why: I want to socially understand them, learn what their interests are and see if they are a cultural fit. I think asking typical interview questions can be like a game, but social interaction is much harder for someone to rehearse.

“It isn't so much a question, but rather we always look to see if the person across the table has a passion for their field.”

-- Aaron Firestein, co-founder and chief artist of BucketFeet, an online retailer that collaborates with artists to design and create footwear.

Why: It’s important for employees to have a commitment to our overall goal of bringing people together through stories and art.

“Tell me a brief version of your life story.”

-- Gabriel Weinberg, founder and CEO of DuckDuckGo, a search engine that focuses on user privacy and doesn’t track your searches.

Why: This reveals how they view themselves and what is important to them. Their answer can be used as a guide for the rest of the conversation, jumping off from various things they say.

“What do you like -- and don’t like -- about Birds Barbershop?”

-- Jayson Rapaport, co-founder and co-owner of Birds Barbershop, a brand of salons that markets affordable, high-quality cuts and color services. The company recently launched a line of hair care products.

Why: I learn whether they’ve had any sort of relationship with Birds. If they’ve never been, have they spent time understanding what we’re about? They’ve either done their homework or they haven’t.

“If you were given $1 million dollars every year for the rest of your life, what would you do?" After an answer, I ask "Ok so you've done that, what would you do next?" and continue asking that until they can't think of anything else.”

-- David Simnick, co-founder and CEO of SoapBox Soaps, a maker of all natural, handmade soaps that donates soap products to children in need.

Why: Usually the last answer or two shows what the person really wants out of life and tells me what they care about the most. It helps me understand what motivates them.

“Who were the competitors at the last company you worked for and how did your company differentiate itself?

-- Ian Siegel, co-founder and CEO of ZipRecruiter, which lets employers post jobs to hundreds of job boards with one submission and sends job seekers postings via tailored email alerts.
Why: I want to determine if the candidate had a strategic understanding of the business. Surprisingly few candidates can answer this question. I am especially impressed by candidates who have a grasp of existing competitors, potential competitors and what a disruptive, new market entrant could do.

"Why Shoptiques?"

-- Olga Vidisheva, founder and CEO of Shoptiques, an e-commerce destination that sells goods from local boutiques.

Why: We only hire people with a clear enthusiasm for what we do, because those are the only kinds of employees who will help you innovate and who can grow with your company.

Tanya Benedicto Klich

10 Steps to Booking Your Business Solid

Smoothies on the beach, massages on a Tuesday afternoon…there is a certainly a certain level of relief and comfort in knowing that you are booked solid and have a steady stream of income for the next six months.

For those of us that have experienced this sense of joy, we spend most of our days being thankful that our business is off to strong start but for my newer or “still climbing” Ladypreneurs here are 10 steps that you can take today to make sure that you have everything in place to allow your business to take off in ways that you could not imagine.

1. Be clear on your why.

One of the major determinants in whether or your business succeeds is your passion for the work that you do. If you lack passion for your business and are unclear why you engage in the work that you chose, you are unlikely to get very far. What engages people is not what you do but why you do it. Once you discover it, lead your conversations with it.

2. Be clear on your vision.

Everything that glitters is not gold. Be clear who is your ideal target client. Avoid spending your time with potential clients financially unable to work with you, or who may not choose to work with you. Use your vision for your business to establish a clear brand designed to attract your ideal clients. 

3. Be memorable.

Have a tagline that your target audience will remember you by and tell their friends about. Listen to how your family and friends refer to what you do. Does it align with what your tagline says?

4. Keep the individual in mind.

Design your content as if you are speaking to one specific person with very clear pain points. If you know your audience well, they will feel as though your content was written specifically for them. Feeling like you really get them is what gets people interested in you.

5. Don't skimp on your website.

I see so many people who have a website that is just a “boring” website. Your website is supposed to work for you while you are sleeping. It should have an irresistible offer, a call to action and be set up to capture the contact information of potential clients.

6. Email is crucial.

You need a good email provider (MailChimp, AWeber or Infusionsoft) to follow up with interested clients and plan your funnel!

7. Never underestimate the power of social media.

Use your social media as an extension to your website and a way to interact with your fans. Be personal, share tips, let people get to know you and see you first as a person and then as an owner.

8. Share free content.

The most sure fire way to get people to invest in your services is to first give them a taste of what you “got” in a very low risk way. Your free content should be some of the best content you provide. Get your potential clients thinking “if this is what free looks like..I have to see what the paid stuff is!”

9. Get outside.

Yes, we live in an Internet-driven world today, but the old school methods of giving public talks, presenting at seminars and sending a postcard still work and adds credibility to your business. Get known and recognized for your expertise in your community.

10. Keep your eye on the prize.

Never lose sight of your big goal; whether it is to send people to your signature course, coaching package, design service etc. “Scaffold” everyone up to that offer. If you have automated your systems and done a really good job along the way, you will have no problem booking yourself solid.

Safiyah Satterwhite

Shocker! Entrepreneurs Often Are Not CEO Material.

Though just 24 years old, Nadav Shoval has already launched five business ventures, including Spot.IM, , where he serves as CEO. Many of us assume an entrepreneur who has successfully launched a startup will thrive as a CEO but Nadav has learned the two roles require vastly different, and often incompatible, skill sets. He shared his insights on the different responsibilities and challenges each role presents.

What do you believe is the biggest misconception about the entrepreneur turned CEO?

It may sound provocative to say this, but entrepreneurs are not CEOs-in-waiting. We need to stop thinking of them that way if we want to build truly successful and, above all, sustainable companies. We like to think of the great product developer or disruptive innovator as just the precursor to being the head of a hugely successful company. But the truth of the matter is, there are marked and critical differences between being a successful entrepreneur and a successful CEO. Sometimes, they even require quite opposite or contrasting skill sets.

What are the main responsibilities of being an entrepreneur? What about  a CEO?

An entrepreneur acts as a hugely powerful engine for disruption and change. That’s incredibly valuable, especially at the start of a project. At this point, success is based on identifying a problem to solve, quickly creating a solution to fill that need and then convincing potential investors, partners, employees and users/customers that the solution will work.

But a CEO has to be a vehicle for sustainable success. If you’re leading a company it’s simply not enough to just be the engine. That might get the journey started but provides no guarantees of getting to your destination in one piece, if at all. What’s key to a CEO’s success, and what can actually be inimical to an entrepreneur’s creativity, is structure. A CEO has to provide the working infrastructure around different hubs or engines of creativity, if they want to do their job well. It’s less about providing the power, and more about harnessing it for a larger purpose or goal.

For a CEO, milk matters, whereas for an entrepreneur, it doesn’t have to. What I mean by that is that a CEO has to worry about small, seemingly minor matters that an entrepreneur has the luxury to ignore. A CEO has to worry that their company has a health insurance and pension system in place, that there is a clear policy on sick days, vacation, and bonuses and perhaps most significantly, that there is milk in the fridge for everyone’s morning coffee. There are dozens of unexciting logistical and administrative issues that come under a CEOs purview (even if someone else is doing the actual work). That might frustrate an entrepreneur who wants to be free to focus on the product.

Can an entrepreneur also succeed at being a CEO?

When we think of archetypal entrepreneur-CEOs, we think immediately of their brilliance and talent for design and innovation, and despite what I’ve said above, there are of course some entrepreneurs who also make for great CEOs. But for many of us, brilliance or genius can sometimes conflict with being the person every employee in a company can trust to lead them.

If an entrepreneur needs enough genius to see something no one else can, the role of the CEO is actually not necessarily to be the smartest person in the room. The key to being an effective CEO is identifying and channeling the genius of others and understanding how to apply it with the wider interests of the company in mind.

How else do entrepreneurs and CEOs differ?

In the same vein, another key difference between an entrepreneur and CEO lies in their primary function. An entrepreneur needs to create a product or service. The onus is on them to create the "something from nothing" / ex nihilo idea that gets the process started.

But a CEO can’t focus solely on getting things started because, as I said above, they need to provide the infrastructure for longer term success. In that sense, a CEO has to be more of an editor than a creator. His job is knowing when and what to cut away from new ideas to shape them (and the company) into the form that will ensure the highest chances for success.

How do entrepreneurs and CEOs fit into the overall business structure?

If an entrepreneur needs to insist on doing things his way, (which may often, to be fair, be the most effective way to do something), a CEO has to accept his way may not always be the right way.

Within the framework of a larger company, any given situation will require different standards and ways of doing things. One project may require efficiency to drive the pace, while another perfection, and success lies in knowing the difference and being flexible enough to adapt. Even more, it means recognizing that different colleagues are going to bring different perspectives and approaches. Learning to trust their expertise and decision-making, even when you might do things differently, can be critical.

An entrepreneur can afford to have tunnel vision. Focusing all of their attention on the opportunity they see in front of them is critical for their success. But, to continue the metaphor, a CEO needs to have double vision. They need to be able to see both the opportunities for growth and the obstacles that lie in the way of that growth. If they can’t employ this kind of preemptive problem solving, they will inevitably fall into every pitfall that crosses their path, and while that may work for a time for an entrepreneur, for a CEO responsible for a whole company, those are setbacks you can ill-afford.

Murray Newlands

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8 Things To Remember When Everything Is Going Wrong. Stopping #3 Changed My Life.

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“Today, I’m sitting in my hospital bed waiting to have both my breasts removed. But in a strange way I feel like the lucky one. Up until now I have had no health problems. I’m a 69-year-old woman in the last room at the end of the hall before the pediatric division of the hospital begins. Over the past few hours I have watched dozens of cancer patients being wheeled by in wheelchairs and rolling beds. None of these patients could be a day older than 17.”

That’s an entry from my grandmother’s journal, dated 9/16/1977. I photocopied it and pinned it to my bulletin board about a decade ago. It’s still there today, and it continues to remind me that there is always, always, always something to be thankful for. And that no matter how good or bad I have it, I must wake up each day thankful for my life, because someone somewhere else is desperately fighting for theirs.

Truth be told, happiness is not the absence of problems, but the ability to deal with them. Imagine all the wondrous things your mind might embrace if it weren’t wrapped so tightly around your struggles. Always look at what you have, instead of what you have lost. Because it’s not what the world takes away from you that counts; it’s what you do with what you have left.

Here are a few reminders to help motivate you when you need it most:

#1. Pain is part of growing. Sometimes life closes doors because it’s time to move forward. And that’s a good thing because we often won’t move unless circumstances force us to. When times are tough, remind yourself that no pain comes without a purpose. Move on from what hurt you, but never forget what it taught you. Just because you’re struggling doesn’t mean you’re failing. Every great success requires some type of worthy struggle to get there. Good things take time. Stay patient and stay positive. Everything is going to come together; maybe not immediately, but eventually.

Remember that there are two kinds of pain: pain that hurts and pain that changes you. When you roll with life, instead of resisting it, both kinds help you grow.

#2. Everything in life is temporary. Every time it rains, it stops raining. Every time you get hurt, you heal. After darkness there is always light – you are reminded of this every morning, but still you often forget, and instead choose to believe that the night will last forever. It won’t. Nothing lasts forever.

So if things are good right now, enjoy it. It won’t last forever. If things are bad, don’t worry because it won’t last forever either. Just because life isn’t easy at the moment, doesn’t mean you can’t laugh. Just because something is bothering you, doesn’t mean you can’t smile. Every moment gives you a new beginning and a new ending. You get a second chance, every second. You just have to take it and make the best of it. (Read The Last Lecture.)

Irfan Khan / Los Angeles Times

#3. Worrying and complaining changes nothing. Those who complain the most, accomplish the least. It’s always better to attempt to do something great and fail than to attempt to do nothing and succeed. It’s not over if you’ve lost; it’s over when you do nothing but complain about it. If you believe in something, keep trying. Don’t let the shadows of the past darken the doorstep of your future. Spending today complaining about yesterday won’t make tomorrow any brighter. Take action instead. Let what you’ve learned improve how you live. Make a change and never look back.

And regardless of what happens in the long run, remember that true happiness begins to arrive only when you stop complaining about your problems and you start being grateful for all the problems you don’t have.

#4. Your scars are symbols of your strength. Don’t ever be ashamed of the scars life has left you with. A scar means the hurt is over and the wound is closed. It means you conquered the pain, learned a lesson, grew stronger, and moved forward. A scar is the tattoo of a triumph to be proud of. Don’t allow your scars to hold you hostage. Don’t allow them to make you live your life in fear. You can’t make the scars in your life disappear, but you can change the way you see them. You can start seeing your scars as a sign of strength and not pain.

Rumi once said, “The wound is the place where the Light enters you.” Nothing could be closer to the truth. Out of suffering have emerged the strongest souls; the most powerful characters in this great world are seared with scars. See your scars as a sign of “YES! I MADE IT! I survived and I have my scars to prove it! And now I have a chance to grow even stronger.”

Christine Guinness

#5. Every little struggle is a step forward.

In life, patience is not about waiting; it’s the ability to keep a good attitude while working hard on your dreams, knowing that the work is worth it. So if you’re going to try, put in the time and go all the way. Otherwise, there’s no point in starting. This could mean losing stability and comfort for a while, and maybe even your mind on occasion. It could mean not eating what, or sleeping where, you’re used to, for weeks on end. It could mean stretching your comfort zone so thin it gives you a nonstop case of the chills. It could mean sacrificing relationships and all that’s familiar. It could mean accepting ridicule from your peers. It could mean lots of time alone in solitude. Solitude, though, is the gift that makes great things possible. It gives you the space you need. Everything else is a test of your determination, of how much you really want it.

And if you want it, you’ll do it, despite failure and rejection and the odds. And every step will feel better than anything else you can imagine. You will realize that the struggle is not found on the path, it is the path. And it’s worth it. So if you’re going to try, go all the way. There’s no better feeling in the world… there’s no better feeling than knowing what it means to be ALIVE. (Angel and I discuss this in more detail in the “Goals and Success” chapter of 1,000 Little Things Happy, Successful People Do Differently.)

Francois Xavier Maritt/AFP/Getty Images

#6. Other people’s negativity is not your problem. Be positive when negativity surrounds you. Smile when others try to bring you down. It’s an easy way to maintain your enthusiasm and focus. When other people treat you poorly, keep being you. Don’t ever let someone else’s bitterness change the person you are. You can’t take things too personally, even if it seems personal. Rarely do people do things because of you. They do things because of them.

Above all, don’t ever change just to impress someone who says you’re not good enough. Change because it makes you a better person and leads you to a brighter future. People are going to talk regardless of what you do or how well you do it. So worry about yourself before you worry about what others think. If you believe strongly in something, don’t be afraid to fight for it. Great strength comes from overcoming what others think is impossible.

All jokes aside, your life only comes around once. This is IT. So do what makes you happy and be with whoever makes you smile, often.

Pierre Verdy/AFP/Getty Images

#7. What’s meant to be will eventually, BE. True strength comes when you have so much to cry and complain about, but you prefer to smile and appreciate your life instead. There are blessings hidden in every struggle you face, but you have to be willing to open your heart and mind to see them. You can’t force things to happen. You can only drive yourself crazy trying. At some point you have to let go and let what’s meant to be, BE.

In the end, loving your life is about trusting your intuition, taking chances, losing and finding happiness, cherishing the memories, and learning through experience. It’s a long-term journey. You have to stop worrying, wondering, and doubting every step of the way. Laugh at the confusion, live consciously in the moment, and enjoy your life as it unfolds. You might not end up exactly where you intended to go, but you will eventually arrive precisely where you need to be. (Read A New Earth.)

#8. The best thing you can do is to keep going. Don’t be afraid to get back up – to try again, to love again, to live again, and to dream again. Don’t let a hard lesson harden your heart. Life’s best lessons are often learned at the worst times and from the worst mistakes. There will be times when it seems like everything that could possibly go wrong is going wrong. And you might feel like you will be stuck in this rut forever, but you won’t. When you feel like quitting, remember that sometimes things have to go very wrong before they can be right. Sometimes you have to go through the worst, to arrive at your best.

Yes, life is tough, but you are tougher. Find the strength to laugh every day. Find the courage to feel different, yet beautiful. Find it in your heart to make others smile too. Don’t stress over things you can’t change. Live simply. Love generously. Speak truthfully. Work diligently. And even if you fall short, keep going. Keep growing.

Awake every morning and do your best to follow this daily TO-DO list:

Think positively. Eat healthy. Exercise today. Worry less. Work hard. Laugh often. Sleep well. Repeat…

Brenda McCarthy

“Everything is temporary, this too shall pass” is a phrase that always comes to my mind whenever things are not going well. All of these are excellent reminders. If you enjoyed this Marc and Angel’s tips, share them with your friends and family.

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