Summary: What does it take to succeed as an entrepreneur? We explore the subjects of motivation, determination, commitment and the role of measurable goals in a business owner's journey to success.

“Desire is the key to motivation, but it is determination and commitment to an unrelenting pursuit of your goal – a commitment to excellence – that will enable you to attain the success you seek.” - Mario Andretti

Mario Andretti, a world champion race car driver and one of the all-time greats of the sport shared these poignant thoughts when asked about ‘success’. Though he was a sportsman, his reflection on how to attain success is relevant to any kind of human endeavour - especially entrepreneurship.

Motivation

Motivation is a compelling force. It drives a person. As Andretti said, ‘Desire’ is the key to motivation. Wanting something, with a passion, can create the energy that eventually becomes the force that can make an entrepreneur spring out of bed in the morning and take steps to realising their dream.

However, motivation, just by itself is not enough. Just like any other energy, it can ebb and flow, as circumstances change - there may be times that motivation is lost even when desire is there. There are always competing priorities vying for attention in people’s lives. A bad day or bad week could see motivation ebb. However, the task of building an enterprise is an ongoing endeavour. It requires the entrepreneur to be on their toes at all times. It is often said that there are no weekends or vacations for an entrepreneur. And it is not feasible to just count on ‘motivation’ to carry the founder of a business towards his goals. So what does it take to attain success?

Determination and commitment

According to Andretti, beyond motivation comes ‘determination and commitment’ to continue onward in pursuit of a goal. This determination if found in oneself enables an entrepreneur to push through hard times, as they attempt to create that which they have envisioned. This ‘commitment’ is often the differentiating factor between those who reach excellence as opposed to those who achieve only some success.

It is not necessarily just a question about pace of work. It is about putting in the hard hours not just in times when the work is fun, but when there is adversity. An entrepreneur’s commitment in times of strife is often a great indicator of whether a team or a business will enjoy success. Often, the entrepreneur’s determination is an important factor in motivating and inspiring their team. Getting the team onboard is no easy task.

This begs the question, what concrete action must be taken by an entrepreneur to stay on course to achieve their goals? The answer may well be to set ‘measurable goals’ for the immediate, medium and long term.

Setting measurable goals

Setting measurable goals is absolutely crucial as an entrepreneur endeavours to realise his/her vision. The concept of SMART goals applies here. They are goals that are ‘Specific, Measurable, Attainable, Realistic, Time-bound’.

A sales target is an example of a measurable goal. ‘Success’ is a more nebulous concept which may or may not be easy to define. Break ‘success’ down into measurable goals and make sure that your enterprise takes concrete steps each day to realise your vision. These measurable goals will make it easier to find within you the determination and commitment to make the most of each day.

Conclusion

Entrepreneurship is not easy. But it is very rewarding as an endeavour. Give yourself the best chance of success by setting measurable goals to keep yourself determined and committed. Great success come to those who pursue excellence as Andretti said. The seeds of success are in the little things, small actions and tasks that you can set for yourself each day.