Self Drive is essential.
70% of businesses fail in the first 10 years in the USA. In the first year over 20% of businesses fail. 30% will fail in the second year, 50% in year five. Overall 90% of all small businesses will fail. Why?
30% of businesses failed because they ran out of cash and 42% of small businesses fail because people do not want what they are selling.
Given the risks, hardships, and unpredictability that come with running a business, it’s no wonder that the latest figures reveal that more entrepreneurs are choosing to close their doors as time goes by.
On a year-by-year basis, the average yearly rate of business failure for companies founded in 2015 is 12.86 % from 2016 to 2020. In other words, each year, 12.86 % of enterprises that started in 2015 fail.
But is that all. In my opinion most businesses fail because of lack of motivation. Close on 30% of small businesses fail because of lack of focus or passion or the owner feeling burnt out. That is frightening. Source ( simply insurance.)
How do I stay motivated?
Whether you’re working towards a business goal, beginning a new business or managing your day to day tasks remaining motivated is critical.
Lack of drive can erode your self-confidence and limit your ability to succeed. The more motivated you are, the more forward momentum you will generate, making it easier to tackle your goals. Here are some ways to help you stay motivated.
Focus on your Goal.
Having a goal can frequently assist you in being more motivated. One technique to establish your objectives, emphasize the importance of the goal, and create an action plan for accomplishing it is to use goal setting.
Long-term goals can be broken down into weekly or even daily action steps, and the progress you make each day can help you gain momentum and stay inspired to keep the process going forward.
Don’t Re-Invent the Wheel.
Follow the leader. Look at what someone else in your market space has done. If they have been successful, look at their website and try to emulate what they have done. Some of the most successful businesses are simply rehashes of what has gone before.
If something is not working or not selling, change. Change the way you do things, including when you do them, how you do them, and how you think about them. To get past complacency and reignite your passion, start questioning your normal routines and introducing a new way of thinking.
Find a Mentor.
Look for someone who can help keep you on the right path. Most professionals are flattered if you approach them and ask for advice. Start by asking for advice and if you hit it off, you can ask them to mentor you. The power of one successful mentor can be amazing.
Find inspiration in daily readings or watch motivational people on YouTube. Follow those people you admire on social media and use that to fire you up for another day. We all get down now and then, but it is not the falling over that counts, it is the getting up.
Remember Your Successes
Do you recall how it felt to achieve a goal, reach a critical milestone, or make a significant decision? Spend some time reflecting on the process you went through, the effort you put in, and the satisfaction you had when you won. Reliving some of your most memorable experiences might help you get over the hump and into action.
Learning new ideas for your business is a great way to stay motivated. There are a lot of on line courses you can take or communities that you can join that will provide training. Do you want to go alone or do you want someone to help. Udemy is a great provider of training for businesses.
A small Motivational Story
Forging Swords | Forging Character
Yoshihara Yoshindo is a master Sword smith from Japan. He makes beautiful Katana swords. His learning commenced at the age of 7 watching his Grandfather making swords.
The first task of his day is putting glue on the end of his fingernails as working in a furnace splits his nails.
When he starts to make a sword he chooses pieces of rough iron. They are full of impurities and they need to be heated in the furnace and beaten into a lump of steel.
The steel is then reheated time and time again to rid it of impurities. It is beaten and folded until it has gained strength and can eventually be used to fashion a beautiful blade.
I look at this as much the same way as we start in business. We are put through the fire of public scrutiny and beaten until we rid ourselves of the things that don’t work.
This amazing man is 90 years old and still works at the forge producing pieces that travel the world. They are highly desired by collectors of fine swords.
It takes about 4 months to make one full sized Katana sword. At 90 years old Yoshihara Yoshindo is a living legend and has attained the “Exclusion of Examination” rank. Which means his swords are considered so perfect no one has the right to judge his craftsmanship.
Did this happen overnight? No.
So did it take 4 months to make one sword?.
No, it took him 80 years to get to that quality of perfection. It takes time and dedication in any business to be successful. His first commercial successes didn’t happen until he was in his late twenties. But did he give up, will you?
I hope this has inspired you to look at his You Tube video. Yoshihara Yoshindo, Forging swords | Forging oneself.
Staying motivated in whatever you do, whether it’s playing a game or running a business, is critical. if you don’t focus on your goal and actively work toward it, you are giving up. To be ahead of the pack, you need that daily drive and determination.
Where to find it and how to use it are crucial factors in your businesses success. I wish you all the best in whatever venture you choose.
For me, I chose Wealthy Affiliates, as it ticks all the above boxes. Training, support, motivation and the ease of working anywhere in the world.
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