Business Opportunities Weblog

January 16, 2007 by Rich Whittle | 4 Comments

CNNMoney.com:

Starting your own company is a big challenge, but staying positive could be an even bigger struggle.

No matter what kind of business you have, if you are not committed to a “failure is not an option” mindset, you are setting yourself up for failure, says Neil Anderson, president of The Courage Group, a consulting firm for entrepreneurs.

Indeed, only two-thirds of new small businesses survive at least two years, and just 44 percent survive at least four years, according to a study by the U.S. Small Business Association.

To avoid becoming another start-up casualty, the right mental state is crucial.

1. Go mental. Stay away from people who are negative and may try to bring you down.

2. Virtual reality. By visualizing success, your actions will become more confident. And increased confidence breeds success.

3. It’s all about sacrifice. A big component of the “failure is not an option” mindset is knowing that certain personal or financial sacrifices will need to be made along the way in order to achieve your dream.

4. Risk is not a four-letter word. Keep in mind that success comes to those who recognize risk, are unafraid of it, and will execute on their ideas.

5. A hungry dog hunts better. When clients or customers are few and far between and money is tight or nonexistent, successful past and future entrepreneurs will always find a way to drum up another sale.

6. A roadmap will lead you to success. A business plan, which is a written description of what you are going to do and how you are going to do it, is the entrepreneur’s roadmap.

Photo by berleam .

In Ideas | 4 Comments
Tags: Execution, Operations, Psychology, Strategy