Did you know (I bet you did) that 20% of new businesses fail during their first 2 years; and 45% fail during the first 5 years. And a whopping 65% don’t make it past 10 years. In fact, according to Investopedia – only 25% of new businesses make it to 15 years or more.
So what’s the point in becoming an entrepreneur – if you’re most likely not going to make it anyway?
Well, you see the most interesting thing about entrepreneurs, is that we are all absolutely convinced that we’re going to be part of the 25%. In fact, we simply will not accept the possibility of failure. Sure, we know there’ll be headwinds, but we also know that eventually we’ll win.
And THAT’s the sign of an Entrepreneur.
So, if you’re sitting around thinking how hard it all is, and that you’ll never get past the current problem – well, you’re probably right. Because the game changer is what you THINK. Yep, it’s mindset. Not because mindset is a magic bullet that will put everything right immediately. But because if your mindset isn’t right, you’re not going to be able to accomplish much. But, if your mindset IS right – well that’s the foundation to your success. It gives you the energy and creativity to overcome obstacles, and solve problems with innovation.
Listen, if you don’t think you’ll make it – then you won’t.
Now, you can’t just waive your wand and poof, change your mindset – but there are some great thinkers out there that may be able to help you along.
Take some time out and read The Big Leap by Gay Hendricks. Or try The Go Giver by Bob Burg and John Mann; or the Miracle Mentality by Tim Storey. There’s also Simon Sinek’s Find Your Why.
Or if reading isn’t your thing – think about getting a coach. Which brings me to the next thing that stands in the way of your success.
You need to get help. It doesn’t matter if it’s a business coach, a mastermind, a full team or just a virtual assistant – you have to face the fact that you can’t go it alone. Not if you want to keep your health, and your sanity. To accomplish the big goals you have, you’re going to need a helping hand. People to help you execute; and people to help show you the way forward.
Honestly, I think getting a coach, as soon as possible, is foundational to you making a successful go of it. Because it’s multi-faceted help. They’ll help you with mindset, give you guidance on the path forward, call you on your bull-pucky (a technical term), and hold you accountable.
And by the way – don’t underestimate the power of making a decision. Decide you are going to succeed, decide you are going to do what it takes to win. And once you make the decision, take action. It’s the would’a, could’a, should’a’s that will kill your enthusiasm and spirit. Stop second guessing yourself. Make a decision; and then go for it.
“… the most interesting thing about entrepreneurs, is that we are all absolutely convinced that we’re going to be part of the 25%. In fact, we simply will not accept the possibility of failure.“
You’re going to have to grow. As Alex Charfen said – ‘if you don’t have the business you want, it’s because you haven’t become the person who can run it yet.’ You’ve got to grow. That’s one of the reasons all this is one of the toughest things you can do. It requires a lot, a lot of you – personally. Be open and willing to take in the lessons and experiences. They’ll make you a better entrepreneur, and person.
Be afraid. And do it anyway. Don’t let fear stand in your way. Sure, fear can be good – it can help keep us safe. But it’s also a powerful force holding us back. You’ll be afraid, your knees will knock, the blood will drain from your head, your heart will pound. Do it anyway. Take it on, anyway. Because trying to shy away from it, or sidestep it will only lead to you dying a thousand deaths in your head as you ruminate on it. Be bold – take the step – get out there and tear it up. And if it doesn’t work – pick yourself up, dust yourself off, and try again. You haven’t really lost until you stop playing.
Don’t waste another minute trying to figure out how to get your business going and what should come next.
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And finally – get excited. Being an entrepreneur, a business owner, is actually a magical experience. Think about it – you had an idea, and turned it into a BUSINESS…from nothing. You pulled together all these little pieces you had in your head, got other people on board with the idea, and created this magical THING.
That’s a reason for firecrackers. So, as you’re pushing and pulling yourself through the day to day – don’t forget to celebrate the wins. Again, what you’re doing is magic – acknowledge that.
Now, I’m sure you’ve heard some or all of this before (it’s not earth shattering information). But I had a feeling that someone, someplace needed to hear it again. We’re coming up on a new year, and it throws us into reflection mode. And that makes it easy to focus on the misses, and the unmet goals. So take this little golden nugget of an episode to heart. And remember – what you’re doing is singular, crazy, wonderful and magic.