Would you like to know the real secret to being a successful entrepreneur? Really?
The real secret to being a successful entrepreneur is tenacity.
Oh, and fearlessness helps too; however there is one exception to this rule. It is nearly essential that you have a fear of quitting. Remember the cartoon where a miner has picked a tunnel deep into the earth and just before he hits the mother lode, he gives up? Yeah, that image has haunted me the last nine years.
Whenever I felt overwhelmed or thought 'why in the heck am I doing this?' even the mere thought of quitting sent panic shivers down my spine. Because my next thought was always 'but what if I'm right there... about to hit the big time? What if I quit right before the big success?'
I know the idea of launching your own company and being your own boss is laced with romantic fantasies. All too often people daydream about leisurely days with no one telling them what to do while the money pours in.
The truth is, it is very hard work to build a business; especially in the first three years. You must dig deep into your soul to find the motivation to continue despite working in a vacuum, despite exhaustion and disappointment, despite those days when the phone doesn't ring. Not even once.
You have to be organized and disciplined. You must establish a routine just like you would if you had to get up, get dressed and go to work for someone else. You must make it your mission to network and meet people and build relationships at least three days a week for the first several years.
You absolutely must get over your fear of public speaking, your fear of cold calls, and most importantly, your fear of rejection. In fact, rejection is an amazing source of growth if you can learn not to take it personally.
Every time you make a presentation or a cold call and you are rejected, later you will think 'ahhh I should have said.......' And then each rejection turns into a lesson for how to answer the objection.
The more rejection you get in the beginning, the faster you learn how to combat it. And the more you successfully answer the objection, the less rejection you'll receive. It's an amazing cycle!
Finally, if you decide to strike out on your own, you must be committed to the business and that means you must plan for financial expenditures during this process.
You must plan to have enough money to regularly invest in yourself and your business. Brochures, business cards, flyers, office supplies, software and apps, education and training, insurance, consulting and mentoring are all necessary.
In fact, ask any (or read about any) self-made successful entrepreneur and you'll find they partake of continuing education so they can stay current with industry best standards. They avail themselves of the latest in technology to improve efficiencies and they use business consultants and mentors on a regular basis.
When you're self-employed you need a sounding board and someone with whom to brainstorm; someone who will encourage you and help hold you accountable.
By the way, family and friends are horrible at this. Most of them will be naysayers, not because they don't love you, but because they don't have the entrepreneurial spirit.
The fear of instability (emotional, financial) is too much for most people to bear and thus they try to discourage you -- and oftentimes they're just plain jealous.
No, you need someone who has already walked in your shoes, who understands your trials and tribulations, someone who can help you when you don't know what you don't know. Someone who cheers you on. THAT'S what will get you through the tough days.
In my case, the fear of quitting kept me trudging forward and here we are, nearly nine years later and we are, by any definition, a success.
And yes, we've used consultants and mentors and goals groups and social media and quite a number of methods to help us stay motivated over the years. Now we're out here sharing what we've learned so others can avoid the pitfalls and shortcut their way to success.
Winston Churchill once said, "Continuous effort -- not strength or intelligence -- is the key to unlocking our true potential".
You want to be successful? You need tenacity.