I talk with a lot of entrepreneurs every week, and I have discovered some common themes that make them successful. Combining these with my own experiences, I’ve uncovered five main ways to keep you on track for success.

Follow Your Passion

It is not enough to want your own business. You must find the business that you are passionate about! Your business must be in alignment with your personal goals, values and passion. When I was growing up, I was heavily involved in theatre and dancing. I toyed with the idea of obtaining a degree in musical theatre and moving to New York to pursue a career on Broadway. However, I was cautioned not to do this unless I was wildly passionate about it because the rejection was so incredible and the industry was so competitive. Do these obstacles sound familiar? They are very similar to those experienced by entrepreneurs. However, when you do something that you are truly passionate about, it’s easy to get out of bed and feel excited and energized by your work! In addition, it is much easier to find ways to stand out in a competitive market and to do great work for your clients.

Have a Vision

In business, it is critical to pay attention to the right details. Planning is crucial to success. It’s a well-known axiom that if you fail to plan, you plan to fail, and yet I regularly hear from entrepreneurs who do not plan! Without a plan in place, it is too easy to get distracted by whatever happens to come your way. If the opportunities (seminars, speaking engagements, networking opportunities, article requests, etc) are not in alignment with your vision, they will take you off course, and you may not meet your end goal and your vision will become, well… blurred! Think about this before you say “yes” to the next thing that comes your way. If it is not going to help support your goals for this year, month, or week, your decision should be very easy. Just say no.

Find a Way to Be Held Accountable

Many of us go into business to be able to flex our creative muscle. We like coming up with wonderful ideas, but implementing them is not as fun as the big-picture thinking! Our new idea sounds great, and the potential revenue is exciting, but the tasks we need to do to get there are overwhelming and we can’t seem to make any headway on the project! So we procrastinate and find other things to occupy our time, until we eventually take the wonderful creative idea off our “to do” list because we don’t want to or know how to do the work to get us there. This is a waste of your creative spirit! Successful entrepreneurs find ways to be held accountable, whether it’s through membership in a round table or mastermind group, forming an advisory board, entering a formal partnership or hiring a coach to keep them on track.

Spend Your Time on High-Payoff Tasks

Everyone knows that in order to stay in business, we must continue to bring in revenue. However, many entrepreneurs spend too much of their time doing activities that don’t generate income! So what is an entrepreneur to do? Delegate! By outsourcing all the tasks that don’t include generating money or building relationships, you will be able to use your newly found time to make more money! Your time for high-payoff activities (planning, forecasting, developing your marketing funnel, training, and so forth) will increase and in turn, your productivity will increase. There are many virtual professionals who you can hire to do the work you need to outsource and could include anything from accounting to administration and beyond. Once you do this the first time, be prepared to be addicted to this concept!

Focus

How many projects do you have going on at any one time? Or worse, how many businesses are you running at one time? I recently met a woman who has three businesses, and she was complaining that none of them were doing well. Gee, I wonder why? Having too many projects at one time, particularly if you do not have a way of managing each of them properly, means that you’re likely to become overwhelmed. Pick a project or two and focus on those. You will feel so great to knock something out and will be motivated to continue onto your next task. If you are spread too thin, I can guarantee you that you will sabotage your chances of meeting your goals.

After assessing where you are in these five lessons, you can start to see what you need to focus on. Whether you feel confused, struggle with self-confidence or lack tangible results, I suggest taking action to find out if you’re following your passion and determine your measuring stick for success. If you are easily distracted or overwhelmed, I suggest finding a coach who can help you align your goals, priorities and values to create the life and business you desire. By paying attention to these key areas, you can start to shift to creating a business that fits your lifestyle, not one that dictates it, which is one of my personal measures of success.

Copyright © 2009 Meredith Liepelt

Meredith Liepelt, President of Rich Life Marketing, publishes Smart Marketing, a free bi-weekly ezine featuring marketing tips, insider secrets and thought provoking articles designed to help the busy female entrepreneur become known as an expert in her field, build trust with clients and prospects and generate more income than ever before. Claim your free subscription today at http://www.richlifemarketing.com