January 29, 2007
The Three Things You Absolutely Must Know About Starting a Business
During the past few years I have interviewed hundreds of entrepreneurs. Each of them has had interesting advice to offer to people who are just starting out. There are three things that just about every entrepreneur has said, in one way or another. I have included these three items for your review.
Action is Better than Analysis
The world belongs to those who “do”. Planning is a key component of success but over-analysis is a sure way to guarantee failure. I know many people who check and double check their facts and figures. They launch study after study as they wait for exactly the right time to get started. The truth is that there is no “right time” and their is no “wrong time”.
So what exactly is the correct answer when it comes to starting business?
The successful entrepreneurs I’ve encountered set goals on a one, three and five year basis. They then sketch out a rough plan that will guide them through the first few months of their business – with the one-year goal in mind. Then they let it rip. They get started right away. They take some action. They generate some momentum. After the first few months, they create another rough guide based upon their initial experience. They adjust your plan to fit reality every few months.
The key is to take action toward achieving your goals each and every day.
Persistence Increases the Likelihood of Success
Persistence is one of the most important qualities a person can possess. It is more important than intelligence. It is more important than talent. And it is definitely more important than experience. Failure is no match for a persistent individual. As an entrepreneur you must be relentless in your desire to succeed.
Never give up. If you keep coming back time and time again and you greatly increase your chances for success.
Ignore Negative People
Negative people will try to steal your dream. Friends, Family and Significant Others may tell you that your business will never work. They may tell you that you are destined to fail. They may say that you are wasting your time.
They will be wrong.
Sometimes these people will be will-intentioned. Other times they will be jealous and looking to keep you from bettering yourself and your lifestyle. Either way they should be ignored.
Much of your success depends upon your level of confidence. You need to avoid anything and anyone that diminishes your confidence.
These things seem simple don’t they? Everyone grasps each of these concepts quite quickly when they are introduced yet few people adhere to them. Keep in mind that these are the three things that the successful entrepreneurs I interviewed all had in common. There must be something to them.
Filed under: Start-up Fever
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