“Challenges are gifts that force us to search for a new center of gravity. Don't fight them. Just find a new way to stand.”
– Oprah Winfrey
Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast, talks about the Realities of Entrepreneurship through the “Bell Curve of Entrepreneurship.” In this episode, Jason shares his advice on how to deal with frustration as a business owner, a challenge he has faced lately in his business, and how he overcome that situation.
3 KEY POINTS:
- You won't always be satisfied with your business, but that frustration will improve you.
- It takes a lot of work to attract top talent, especially as a small business.
- Marketing is one of the most critical components of a business.
- For podcast listeners, a video version of the episode will be released on YouTube, showcasing the graphs Jason mentioned throughout the episode.
- Jason's Bell Curve of Entrepreneurship consists of X and Y axes, wherein the Y-axis indicates the probability, while the X-axis indicates the distribution of the dataset.
- Most entrepreneurs running decent businesses are in the middle (mean score) of the bell curve.
- On one side of the bell curve is Extreme Satisfaction or Elation.
- On the other side is Extreme Dissatisfaction or Frustration.
- As an entrepreneur, you won't always be satisfied with your business. There will be days when you will feel extreme frustration.
- One common challenge businesses face is finding great talent with adequate leadership skills, especially in marketing.
- It takes a lot of work to find online marketing experts. Those with marketing degrees are often into traditional marketing instead of the newer digital marketing.
- Frustration is normal and makes you better. Don't beat yourself up about it. Keep your eyes on the prize, focus, and always seek the advice of experts who've overcome your same struggle multiple times.
- It's challenging to attract top talent as a relatively unknown small business.
- Marketing is one of the most critical business components you should invest in. You need a strong marketing arm to keep up with your business plans.
- Jason recommends joining Masterminds to get together with like-minded experts miles ahead in their progress. If joining Masterminds has yet to be an option, you may also join communities.
“Not every day are you going to be satisfied with your business. There are going to be moments of frustration, and that's the reality of business.” – Jason A. DupratTweet
“If you're going through frustration in your business, it is normal. Keep your eye on the prize, stay focused, and listen to advice from entrepreneurs with a lot more experience.” – Jason A. DupratTweet
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