It’s common in the small business and entrepreneur arena to hear people talking about “the hustle”. In the past, the term “hustler” was regarded as a negative connotation, however in today’s business landscape, to survive, it’s seen as necessary to succeed to be a successful hustler.
The term “hustling” loosely means that you’re ensuring that you are always at the right place at the right time. It means being resourceful, creating your own luck and working tenaciously and 24/7. There is no room for the part-time entrepreneur.
However, there is a specific art to the hustle. In this piece, we share some common and critical observations gleaned from a successful entrepreneur.
The characteristics of a successful hustler should include:
1. Having a clear vision and self-belief.
Hustlers tend to have an unbridled passion for their vision and driving ambitions. It’s something that they live by with a 24/7 laser focus on their efforts.
As an entrepreneur, you have to have a vision for your business. Strive to write down your vision along with all your goals, short-term, mid-term and long-term. Ensure that you create a business plan which has a clear understanding of your number, your break-even point, and makes sure that you clearly define what makes your business differ from the competition. It’s wise to remember that, unless you’re launching a revolutionary product or service, you’re merely joining the ranks of other business already in operation. It’s imperative to differentiate to achieve traction.
Hustlers are ruthless in the differentiation and thinking out the box abilities. Never water this down or compromise on this and ensure that your team is on board and believes in your unique vision.
2. They love what they do.
Any hustler or entrepreneur will tell you that they don’t see what they do as work. Any business owner will have success in doing something they love.
3. Rejection doesn’t affect them.
Hustlers tend to have a total disregard for rejection and instead commonly have single-minded and long-term visions.
In this regard, we suggest stressing your business plan by 50%, downside, as it always takes longer and costs more to get where you want to be. Every successful business owner has gone through tough times, and most entrepreneurs will confirm this, so ensure that you’re tough-skinned.
4. Cold calling is never a problem.
Hustlers commonly have little to no fear when it comes to asking and tend to have an innovative talent for being noticed.
Through the use of social and digital networks, today, there exists several low-cost methods of getting your brand and business noticed. Ensure that you have a robust understanding of the ecosystems and systems which exist around your business and sector and make sure that foster relationships with other key players, including your competitors.
5. Hustlers fear failure and are often the most self-critical.
A good hustling entrepreneur always strives to better themselves and their businesses. They possess a curious nature, are continually up-skilling themselves and have a thirst for learning.
Furthermore, they always commend themselves for the small victories. As an entrepreneur, it’s of vital importance to celebrate every win, no matter how small, with your team members. Your workforce makes for the most essential element of your business. Ensure that your employees know what’s expected of them and that it is clearly stipulated in their contracts. Be sure to regularly and consistently discuss your team members targets and how they’re achieving them.
6. They care.
Hustlers genuinely care about people, they value diversity and tend to have a deep understanding of how their businesses impact society. Don’t make the mistake of confusing successful hustlers with dishonest practices. Successful small business owners and entrepreneur have a deeper understanding of good governance, maintaining key relationships. They tend to run smaller, startup level enterprises in the same fashion and governance as larger entities. Moreover, they always pay their taxes; they properly manage their accounting records and payroll, manage their creditors and have an understanding that their reputation in the market is king.
7. Hustlers have daring goals and are unafraid of risks.
You will inevitably fail along your road to success. That being said, it’s essential to fail quickly and to pick yourself up again swiftly. Ensure that you document your progress against your goals and be realistic. You’ll be able to gauge whether your business is gaining traction or not, and whether you need to pivot or make changes.
8. Be authentic.
Most people are prone to picking up on false sincerity. Successful entrepreneurs and hustlers are unapologetic for being themselves and are never afraid to show society who they truly are.