Bryce Monkivitch: Becoming A Successful Entrepreneur

·3-min read

Bryce Monkivitch, CEO of Sincere Sally (IG: @sinceresallyboutique) explains that being an entrepreneur is not always about having that ‘big idea’. Maybe initially it is, to start something new, you need to have an idea and then you need to know that it works. Is it something people need, something they’ll want, and most importantly - will people invest in your idea, can you scale it?

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Sincere Sally currently brings in an equivalent of more than USD $1 million annually. Monkivitch runs this company with his sister, Joy. They sell their fashion in both the Australian market and the U.S. From Monkivitch’s experience, he has found that people who focus on the internet, and e-commerce and don’t have the capacity to execute an idea — to take an idea and turn it into a functional and viable organization — are doomed to fail. Failure is also good though, Monkivitch explains, statistics say that successful entrepreneurs have failed hundreds of times before landing a win. Many entrepreneurs or onlookers who are thinkers, rather than doers, can be frightened by this notion.

How can idea-oriented entrepreneurs become doers and learn to manage successful brands, the cash flow, their staff— especially when it forces them outside their personal and professional comfort zones?

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Admit Flaws & Weaknesses

Monkivitch explains that the first step is to recognize the challenges. “No one likes to admit their weaknesses and flaws, but in order to improve, we have to.” Every successful entrepreneur I know and have spoken with ultimately recognized the importance of these necessary but difficult tasks and that, in many cases, they were things they had been avoiding or procrastinating about — to the detriment of their business.

Embrace Your Purpose
Secondly, is to embrace your purpose, because that is going to give you the motivation and courage to actually take the necessary leap. Conviction is the feeling, deep down, that what you’re doing — and even struggling with — when acting outside your comfort zone is worth it. That the pain is worth the gain. And given the inherent challenge, many tasks present to budding entrepreneurs, having this conviction is a critical part of the puzzle.

Find Your Own Way
Thirdly, a piece of advice coming straight from my heart is the importance of finding your own way. Just as there is no one-size-fits-all strategy for becoming an entrepreneur, there also is no one-size-fits-all strategy for learning to act outside your comfort zone. You may need to remind yourself of your mission daily to maintain drive and motivation. All entrepreneurs that are successful at acting outside of their comfort zones are able to find simple ways to be effective, without losing themselves in the process.

Entrepreneurship happens internally — with the process of stepping up, having courage, and doing things that you never thought you’d be able to do. By flexing your behavior and learning to act outside your comfort zone, you’ll be well on your way toward achieving your goals.