A common trait among some small business owners is to “give up.” James Dyson’s bagless vacuum cleaner was perfected only after a staggering 5,127 tries. This fact gives me encouragement when I struggle with a business venture.
Another story is all about hard work and tenacity. Things don’t go according to plan, but conscientiously refine and adapt your idea, and eventually, like Thomas Edison, you will wind up with a working “light bulb” after a thousand failed attempts.
Both these stories share a common theme, persistence. “The value of persistence comes from a vision of the future that’s so compelling you would give almost anything to make it real.”
Optimism and great expectations are necessary qualities required for a successful small business endeavor. Remember the 10 times rule, “Growing a small business is 10 times harder than first imagined.” That means that you have to have the right expectations. It does not mean that your vision can’t be both big and bold; it does mean that you have to have the quality of persistence.
Just as Dyson and Edison kept trying different approaches to get their product to work, we as small business owners have to constantly try new and different approaches in marketing, as well as in the products and services that we offer.
While planning is important for a small business, plans don’t always follow a predetermined path. A plan provides a direction in which to start your quest for reaching your vision. Plans can change due to both external and internal factors. With your vision in mind, your persistence to reach it will enable you to change direction and to select another path.
Napoleon Hill, an author that I frequently quote, wrote:
“Patience, persistence, and perspiration make and unbeatable combination for success.”
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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