Gen Xers are natural-born business owners, but many of us face a common hurdle—staying motivated as a Gen X entrepreneur. This challenge has stalled numerous ventures.
Today, let’s explore practical ways to overcome this obstacle and reignite the drive to build a successful business that ensures a comfortable retirement.
Welcome to our 2-part series dedicated to empowering Generation X entrepreneurs and small business owners. Our goal is to guide you through practical ways to stay motivated and inspire yourself, transforming your businesses into thriving masterpieces.
While Millennials embark on the exciting journey of their careers, and Baby Boomers savor the rewards of retirement, Generation X finds itself in a unique position often labeled as ‘The Forgotten Generation.’
Many Gen X business owners have established brands that either remain stable or consistently underperform. The challenges they face include:
Approximately 44 to 50 million Americans born between 1965 and 1980 are known as Generation X by America. We were the first generation to prioritize work-life balance. This pursuit sometimes led to misunderstandings with leaders from earlier generations, but it was a conscious effort to avoid the burnout we saw our Baby Boomer parents experience.
With a strong entrepreneurial spirit, Gen Xers often engage in side hustles for extra cash. At the same time, we possess the capability to lead new initiatives within an organization—an often-underused strength.
Granting us independence and delegating projects leverages our resourcefulness, making it easier to achieve multiple goals simultaneously.
In essence, Gen X is an excellent fit for leaders who trust our skill set and provide opportunities for independent work. This generation’s ability to balance responsibilities and foster innovation can drive success in today’s dynamic business landscape.
Running a small business is no easy deed. The journey to business success is filled with uncertainties and challenges. Whether you’re struggling to generate sustainable ideas, manage a team, or navigate competitive markets, the path can be tough.
It’s natural to feel the temptation to give up on your small business, but there’s a better alternative – staying motivated as a Gen X brand owner.
So, how do you keep the motivation alive during tough times?
Well, here are eight practical tips for Gen X small business owners to stay motivated:
In the world of small business ownership, solving the same problems repeatedly leads to stagnation, inactivity or a business sitting at a standstill.
Creativity and innovation thrive when you step out of your comfort zone and take on new challenges. If maintaining motivation as a small business owner is a struggle, make it a point to consistently seek out challenges.
Challenges are not just hurdles. Instead, they serve as inspiration and opportunities to sharpen your decision-making skills.
Actively embrace growth through continuous challenges to open doors to innovation and personal business development—essential elements in the journey of a Gen X small business owner.
Navigating the challenging terrain of business, which is fraught with difficulty and uncertainty, is a feat accomplished by only a small percentage of ventures. Amidst these trials, it becomes imperative to sustain motivation and uphold a positive mindset to ensure the survival of your business.
In the words of Murray Newlands, founder of the online invoicing company, Sighted:
“It’s so easy as an entrepreneur to get sucked into feeling exhausted or frustrated, and often the blame is yours alone. But a negative mindset sucks up the mental bandwidth and energy that you need to stay focused and successful.”
Maintaining a positive outlook is vital when facing challenges. Keep motivational quotes or uplifting images in clear view to remind yourself of the core purpose of this entrepreneurial journey.
Ian Aronovich, Co-Founder and CEO of GovernmentAuctions.org, provides practical advice on staying motivated as a small business owner:
“To stay motivated, you have to keep reminding yourself that a good business with a strong, reliable source of revenue can stay afloat even in the roughest of times.
That’s why – while you have the chance – you need to work to build a strong business by testing different revenue models, simulating your business in various economic environments, and brainstorming what new methods your business can use to bring in more profits.”
When the economy faces challenges again, and Gen Xers knows it will, your solid business foundation, built through hard work, will keep you optimistic and motivated to persevere.
Success for your small business isn’t guaranteed by following a fixed strategy. Each venture is unique, and blindly copying strategies leads to failure. Instead, analyze various business models and test them against controlled factors to find what suits your specific situation best.
Ready to discover more strategies for staying motivated as a Gen X business owner?
Click here for Part 2 of our series on staying motivated as a Gen X brand owner.
Kiesha Joseph, aka The SEO Goddess, is a content marketing maestro based in the heart of Hemet, California. With a passion for helping new and established brands discover their ideal target markets through psychographics, Kiesha combines the power of SEO-friendly content with a personal touch.