Perserverance Is The Key To Success

persevereI have focused the last several blogs on providing some insightful tips to help individuals on their journey when deciding to own a business, whether that be starting your own business, buying an existing business or buying a franchise.

There has been a lot of planning and research done to get you to the point where you make a decision, and launch your business.  It is one of the most fulfilling things you may ever experience when you get the key to your new office, hire your staff, and get your office set up. The first couple of months in a new business is very busy, and can leave you on a bit of a high, but by month three or four when you start receiving bills and revenues are less than you forecasted, it can be very discouraging.

With over 40 years of business experience, and specifically the last 10 as a franchise owner, I can tell you that all businesses experience difficult times. For some it’s hard to find prospects while for others it’s hard to close deals, but no matter how difficult it seems at the time, stick to your plan and processes and you will get through it.

As entrepreneurs we will get stuck from time to time, and it is important to see that as an opportunity to think outside the box, challenge our comfort zones and get on with making our dreams a reality.

 

How About You?
If you are running your own business, what types of exercises do you do when you’re stuck? I look forward to hearing your stories in the comments below.

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One Comment on “Perserverance Is The Key To Success”

  1. Avo Bedrossian says:

    Research shows that most failed businesses (80 to 90%) were victims of internal factors. My direct observations lead me to believe that sometimes “stick to plan and processes” prevents entrepreneurs to see internal detractors from growth that would be obvious for dispassionate external observer. You say it well though and I agree strongly that what’s required when stuck at a hurdle is “thinking outside the box” or lateral thinking.

    I like to quote here Arthur Ashe: “One important key to success is self confidence. One important key to self confidence is PREPARATION”.

    The preparation in front of a hurdle depending on each unique start-up situation you’re facing will help respond by doing the right thing which must be different and appropriate as prescribed by the Cynefin decision making framework:

    In a SIMPLE situation: Sense -> Categorize -> and then Respond with a “best practice” solution.
    In a COMPLICATED situation: Sense -> Analyze -> and then Respond with a “good practice” solution.
    In a COMPLEX situation: Probe -> Sense -> and then Respond with an “emergent practice” .
    In a CHAOTIC situation: Act -> Sense -> and then Respond with a “novel practice”.

    Lest your action or inaction let the situation plunge into disorder leading to complete failure or divestiture.

    For more on Cynefin see the HBR article “A Leader’s Framework for Decision Making”
    by David J. Snowden and Mary E. Boone – http://www.mpiweb.org/CMS/uploadedFiles/Article%20for%20Marketing%20-%20Mary%20Boone.pdf


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