Raj Dosanjh is the founder and CEO of Rent Round. Over the years Raj has used his business to help hundreds of individuals save money on their property management.
Three days ago, I spoke with Raj. During our conversation, he shares some words of advice on handling stress and achieving success as an entrepreneur, and how to avoid burnout in an effective way.
Avoiding Anxiety And Burnout
Raj understands being an entrepreneur is tough. There are doubts that creep in about the business, one’s ability to make it successful and if big obstacles can be overcome. In addition when starting a business, you are in charge of everything, across marketing, finance, operations etc. Staying on top of all the moving parts and keeping focus on the right areas can be overwhelming.
Raj’s tactic is to switch off. He takes a day or 2 to remove himself from his phone and laptop. Sure he recognizes this may have an impact in the short term. However upon return, the refreshment and clarity will contribute to longer term success. The time away will spike motivation. Tasks that have been put off or ideas that were on hold are now pushed through with greater impetus.
Achieving Success
Raj understands it’s vital to keep the drive. Without the owners drive the business will die. This is why when starting a business, you need to ensure you truly believe in the idea. If you’re half hearted, during difficult times there’s a risk the drive will decline. When you truly believe the business will be a success, the drive will still be there during difficult times and help you overcome them
Source of motivation
Raj believes that motivation comes from the enjoyment of running your own business. If you don’t enjoy it, the chances of success will be lower. Starting your own business isn’t for everyone. There are down points which can drain you unlike a permanent role working for someone else.
Another source of Raj’s motivation are fellow successful entrepreneurs in one’s friendship circle. Having others in a similar position to discuss and challenge ideas is for sure extremely valuable. Seeing their success and the enjoyment they get from their business gives the extra impetus to achieve goals. In addition learning from their experiences of overcoming challenges is extremely helpful & creates insights on how to avoid common mistakes.
Continuous Growth
Raj also outlined that you have to keep a mindset of what is the next thing. It’s easy to rest on your laurels when things are going well. When things are going well, it’s the prime time to be thinking of the next avenue of growth. Sitting on success is what brings on the decline and you start to stagnate. This is when what you’ve built is at risk of crumbling.
Don’t be scared to try out different things as well. Failure is common. But trying out new markets or a different customer base may be rewarding. Raj has created business across the finance, martial arts, property and career mentoring industries. With success & failures across his ventures, the skills & knowledge acquired stays with him in his future endeavors.