| The entrepreneurial adventure is NEVER devoid of | | | | people are least prepared for - hence the frequent |
| challenges, many of which as statistics show, cause | | | | cases of failed businesses.The quotes below offer |
| most business startups to fail. What will ensure | | | | time-tested wisdom, that you can use."Work, work, |
| success for virtually ANYONE who starts a business | | | | always work is the only talisman" - Thomas Lipton"To |
| will be their ability to PERSEVERE in the face of | | | | banish depression, worry and fear, go to work" - |
| marketplace rejection, and daunting obstacles they will | | | | Anon"I have always found, when I was worrying, that |
| encounter.This article spells out philosophies you can | | | | the best thing to do was put my mind upon something, |
| adopt if you wish to achieve long term, sustainable | | | | work hard and forget what was troubling me." - |
| entrepreneurial success.1. Cut-Off ALL Sources Of | | | | Thomas EdisonDuring my early start-up days, some of |
| Retreat: In his classic book, Think and Grow Rich, | | | | my most productive periods were the times when I |
| Napoleon Hill uses the analogy of a General who had | | | | was severely cash strapped - or as Burt Dubin would |
| his soldiers burn all their boats upon arrival on the shore | | | | put it - "maxed to the hilt". It was during such periods |
| to face a much larger and formidable army, so they all | | | | that I delivered 8(eight), more or less FREE one-hour |
| knew they had to win the battle or die trying. This | | | | talks in various parts of Lagos between May and July |
| kindled a determination in the men to put forth their | | | | 2002.I went round them even though I hardly could buy |
| best efforts - and against all odds, they won.Hill stated | | | | fuel into my car! But guess what? Because I truly |
| that to in order to succeed in any endeavour one must | | | | enjoyed what I was doing - sharing with people - I |
| be prepared to burn one's bridges. If you really want to | | | | thoroughly enjoyed myself, and no one knew better! |
| achieve your ultimate entrepreneurial goal, you need to | | | | And, I got to polish my public speaking skills plus got |
| ensure your circumstances are such that no matter | | | | rave testimonials.It was during those lean periods that I |
| how hopeless the situation becomes, you leave | | | | wrote the entire 87 pages of my Ten-Week Email |
| yourself no "escape" route leading back to the | | | | autoresponder course titled Ten Ways You Can Use |
| comfort of your previous life. This is one sure way of | | | | Self-Development To Create The Future You Want |
| keeping yourself fired up UNTIL you achieve the | | | | (based on self-development principles I have |
| inevitable reward of success.2. Be Convinced Enough | | | | successfully used to achieve goals I set for myself) - |
| To Risk Financial Ruin: The ability to be honest with | | | | which today is now available for purchase in print as a |
| yourself is an important requirement here. Before you | | | | self-help manual from and Lulu.com( ebook also |
| launch out, ask yourself WHY you want to become an | | | | here).Add to this a 70 - page manual titled "Practical |
| entrepreneur. You need a reason that is compelling | | | | Livestock Feed Formulation Handbook" - also written |
| enough, a need that is felt deeply enough, to keep you | | | | during a rough patch I went through(drawing from my |
| going, refusing to stop or accept failure/defeat UNTIL | | | | background as a graduate of Agricultural Extension |
| you achieve your intended objective. Without this, you | | | | Services, and a member of a Farm Research |
| may find it difficult continuing the journey during the | | | | Foundation), and you will agree that tough times can |
| inevitable periods of pain, and adversity that most | | | | indeed bring out the best in a person!How did I do it |
| entrepreneurs have to endure before arriving.Robert L. | | | | you ask? Well, I knew from reading Think and Grow |
| Shook in discussing lessons from the lives of great | | | | Rich/other books, that during periods of hardship, the |
| entrepreneurs, pointed out that a startup needs to be | | | | best thing to do is to bury oneself in work - instead of |
| strongly convinced about his/her business concept. | | | | worrying. So I went ahead and did just that! That way, |
| Your conviction he said, would be so great that even | | | | I knew I would at least have something new to show |
| when loved ones tell you it cannot be done, you would | | | | for it by the time things improved.No matter how bad |
| be prepared to invest all you own - and risk losing it all | | | | things get, just go to a quiet place, sit down and THINK. |
| - to implement the idea. Most importantly, you would | | | | Napoleon Hill's book title(Think And Grow Rich) was |
| never give up regardless of how many times you | | | | not an accident :You Have To THINK! Add James |
| failed.3. Remember That Your Struggles Develop Your | | | | Cook's plea in the last pages of his own book - The |
| Strengths: Napoleon Hill explained that even though | | | | Startup Entrepreneur - where he repeatedly implores |
| many of us see people who tirelessly persist in their | | | | the read to pick up a copy of Napoleon Hill's book and |
| pursuit of cherished goals till they succeed, few ever | | | | read, before taking the decision to quit.Before you |
| notice the role played behind the scenes by certain | | | | know it, you'll be ready to go back out and give it |
| "irresistible" forces which ultimately come to the aid of | | | | another try. Take it from me - This works! I have done |
| such individuals.It should also be noted that people who | | | | it. It CAN work for you too, if you do it. The discipline |
| have to struggle long and hard to achieve success, | | | | you learn from maintaining such focus will subsequently |
| always tend to use the lessons they learn from | | | | set you apart from the crowd when things are going |
| failures to subsequently build on their successes, | | | | well.One more thing. Just in case you don't already |
| resulting in even greater achievements, sustained over | | | | own them, I urge you to go out and get yourself a |
| long periods. Arnold Schwarzenegger's words are | | | | copy of each of those two books mentioned above. |
| relevant to the foregoing:"Strength does not come | | | | They are an entrepreneur's best friends. I have |
| from winning. Your struggles develop your strengths. | | | | personally referred, in my writings, to James Cook's |
| When you go through hardships and decide not to | | | | book as "The Missing Chapters In Napoleon Hill's Think |
| surrender, that is strength." - Arnold Schwarzenegger4. | | | | And Grow Rich". I believe you'll agree with me, when |
| Master The Art Of Intelligent Mistake Making (TM) : If | | | | you read it!11. Procrastinate When It Comes To |
| you are scared of making mistakes or failing, then | | | | Spending (TM) : When you're starting-up, and even |
| forget about becoming an entrepreneur. Entrepreneurs | | | | after you get up and running, develop the bad habit of |
| are people who HATE failing. But they DO NOT fear | | | | putting off spending - for as long as reasonably |
| failure. The former implies they dislike having the | | | | possible - till your're convinced it is inevitable.While |
| experience of NOT succeeding at something, and | | | | starting up in particular, I suggest you cut down on ALL |
| because of that they WILL go after it again and again, | | | | your personal expenses by at least 90%(I know this |
| UNTIL they succeed. On the other hand, the latter | | | | sounds a bit extreme, but based on hindsight, I am |
| statement(i.e. they DO NOT fear failure) implies that | | | | convinced that the process of doing it will clear one's |
| ALL the failures they experience prior to the eventual | | | | thinking faster/better). As James Cook said, you will |
| success would not discourage them, because they | | | | find what you really need to spend to get through |
| have healthy levels of self-esteem. To them, failure is | | | | each day, is much less than you think you do.Gradually, |
| only Temporary Defeat, which can always be | | | | over time, you will discover the appropriate level to |
| overturned to achieve success.So, you must strive | | | | operate in terms of spending.Let me reiterate. When |
| constantly to extract the equivalent benefit from every | | | | you want to do any heavy business-related spending, |
| adversity. Get into the habit of working hard to extract | | | | stay off "doing it " for at least another 24 - 48 hours, |
| a useful lesson or benefit from every setback, | | | | or as long as possible. Brood over it, challenge yourself |
| disappointment or other negative experiences you | | | | to think of any other way(s) you can get that "thing" |
| have in the pursuit of your goals. Focus on analysing | | | | done without spending that much - or without spending |
| every experience of failure for the "equivalent benefit" | | | | ANY money at all. Herman Holtz(now late) - widely |
| hidden in it, and then USE it in your next plan, to | | | | regarded as a "Consultant's Consultant", hammered on |
| increase your chances of success. As I put it in my | | | | this quite a bit in his book "The Concise Guide To |
| ten ways manual on Self-Development, "Don't | | | | Becoming An Independent Consultant"(John Wiley and |
| rationalise your negative experiences or failure, analyse | | | | Sons, Inc, 1999). If Holtz thought it was THAT important, |
| them!"."I always tried to turn every disaster into an | | | | I think you should too :-).Starting Up As An |
| opportunity" - John D. RockefellerSuccess tends not to | | | | Ex-Employee? Read This! In the Entrepreneur's |
| go to the person who is error-free, because he also | | | | Survival Reference Manual that I wrote back in 2003, I |
| tends to be risk averse. Rather, it goes to the person | | | | made the following observation, based on my |
| who recognises that life is pretty much a percentage | | | | experiences as a person who left paid employment to |
| business. It isn't making mistakes that's critical; it's | | | | start a business:If you plan to(or have already) entered |
| correcting them and getting on with the principal tasks." | | | | into entrepreneuring from a similar background to mine, |
| - Donald Rumsfeld, US Public Official and Business | | | | this is the first thing you have to watch out for - your |
| Executive.5. Think So BIG, That Others Question Your | | | | spending habits. With very few exceptions, most |
| Sanity (TM) : Many times, people who know us - | | | | people who go into business after having being in paid |
| friends, relatives, and spouses - and who feel they | | | | employment - especially where the pay was relatively |
| know all there is to know about us have the greatest | | | | comfortable - often lack the "discipline" needed to |
| difficulty believing we can do anything more than they | | | | preserve the "lifeblood" (i.e. cash) of their new |
| "think" we can, even when we say so. That's why an | | | | businesses.This often results in the early demise of the |
| entrepreneur needs to nurture and guard her | | | | new business, and their subsequent scampering back |
| self-esteem jealously. It is also why you must be willing | | | | to the safety of paid employment. When asked |
| to think VERY big, in a way that challenges others, and | | | | afterwards, they vehemently insist other factors made |
| forces you to commit yourself the more.When you | | | | it impossible to continue in business - when in truth, it |
| have a BIG goal, that is likely to impact on a large | | | | was they who were not prepared to modify their |
| number of people, when achieved, the thought of | | | | habits/lifestyles to allow their new businesses come |
| making it happen for so many others is likely to drive | | | | out of the woods!!" - Tayo Solagbade(25 Avoidable |
| you to work harder(It does me!). Of course those who | | | | Mistakes No One Will Warn You About In Starting |
| think they "know" you will be quick to say you cannot | | | | Your Own Business)12. Pretend You're Already |
| do it, but the thought of proving them wrong, and | | | | Successful. The success philosophies I subscribe to, |
| showing that you CAN, will further boost your efforts.6. | | | | teach that one needs to ALWAYS Think And Act |
| Understand That New/Unique Ideas Will Get You | | | | Like A Success In Order To Become One.Jim |
| Money : Understand that being able to come up with | | | | Donovan in his best-selling ebook(titled "This Is Your |
| new unique variants of ideas/services will increase | | | | Life, Not A Dress Rehearsal") that I bought from in |
| your chances of making money as an entrepreneur. | | | | 2001, described a technique called Fake It Till You |
| Not having money to start with cannot stop you from | | | | Make It. He explained it by saying that without |
| earning money. Your creative skills/thinking ability | | | | mis-representing him/herself, the person who seeks |
| properly nurtured and channeled effectively, will | | | | success must act as if (and BELIEVE) s/he has |
| ultimately lead to financially rewarding relationships with | | | | already become the successful person s/he wants to |
| persons who value them."Because its purpose is to | | | | be.You would speak in the present continuous tense |
| create a customer, the business enterprise has two - | | | | about the value you intend to deliver. For instance you |
| and only these two - basic functions: marketing and | | | | would say "I Help People Solve Their Business |
| innovation. Marketing and Innovation produce results. All | | | | Financing Problems" and NOT "I Hope To Help People |
| the others are costs" - Peter DruckerNapoleon Hill | | | | Solve Their Business Financing Problems". Your |
| reassures the reader of Think and Grow Rich, that | | | | apparent self-belief is what will convince persons |
| most rich persons he studied had amassed their | | | | sincerely interested in having THAT kind of problem |
| fortunes through receiving compensation for personal | | | | solved to engage you.The foregoing is why in |
| services or ideas they provided to others for a fee.I | | | | everything I do, I work hard to create an image for |
| can still recall two particular instances when I had | | | | myself that reflects where I want to be/how I want to |
| absolutely no money on me. After sitting down and | | | | be perceived.(My multi-site website presence for |
| feeling sorry for myself, I got into my car and drove | | | | instance is proof of this). Success is a continuous |
| from office to office, making cold calls, with my mind | | | | process - you're going to always reviewing and |
| fixed on meeting someone who would be ready to | | | | re-focusing to achieve a higher goal, modified vision |
| pay - immediately - for work I would do for him/her. | | | | etc. At every stage, you MUST speak - with |
| Some hours later(in both instances), I returned home | | | | conviction - as if you are already where you intend to |
| with a cheque/cash as advance payment for at least | | | | be.13. Choose Work That You Would Enjoy Doing |
| one of my custom services!7. Ask For Help Without | | | | EVEN If You Did Not Get Paid : An entrepreneur who |
| Acting Helpless (TM) : A true entrepreneur will not | | | | does not truly enjoy and get great fulfillment from |
| need "samaritans". James Cook was quite right in | | | | doing his chosen business every time s/he has the |
| making - what amounted to - the foregoing assertion in | | | | opportunity, WILL fail when things get tough, and |
| his New York Times best selling book titled "The | | | | monetary rewards fail to come as expected. S/he will |
| Start-up Entrepreneur". This is because a true | | | | be unable to persevere. The logic is quite simple, but |
| entrepreneur will be offering to ADD value to what a | | | | the application in the moments of trial can be |
| prospective client(or investor) is doing for a profitable | | | | tremendously difficult.If you truly desire to succeed in |
| fee(or investment). The relationship will be mutually | | | | your business, make sure you choose one that you |
| beneficial, hence neither party will be doing the other a | | | | would gladly do twenty four hours a day, seven days |
| favour!Cook further admonishes that, being unwilling to | | | | a week, 365 days a year and longer if necessary - |
| let others give him/her "handouts"(e.g. money for free) | | | | regardless of whether or NOT you get paid! Find that |
| will help the entrepreneur develop qualities that will | | | | thing that you love doing THAT much, and nothing - no |
| eventually enable him/her achieve sustainable success. | | | | setback, disappointment or delay - can EVER make |
| He warns against trying to get something for nothing, | | | | you quit. And since you can only fail when you quit, it |
| which incurs "hidden penalties".To raise capital for | | | | therefore follows that you will NOT fail, but instead, |
| instance, Cook suggests taking practical steps like: | | | | ultimately succeed.As I said in my article titled Should |
| Seeking out (and offering to sell a part of your venture | | | | You Quit Your Job or Start Your Business Part-time?, |
| to) equity investors and/or strategic partners; | | | | doing what you love WILL also eventually bring the |
| mortgaging your assets to raise money(I would add "if | | | | ONE benefit(money!) that many people always seem |
| realistic in your society" i.e. going by my personal | | | | to want to get first. That's why Marsha Sinetar |
| experiences in my part of the world); BUT strongly | | | | said:"Do what you love, and the money will follow" - |
| warns against taking zero-interest government grants, | | | | Marsha Sinetar14. NEVER Act Based On What You |
| loans etc(for reasons earlier enumerated).8. Know | | | | Think Others Will Say! If you do, you will very likely |
| Enough About ANYTHING That Can Help You: Be | | | | regret it, and it might cost you your dream. People, |
| prepared to acquire ANY and EVERY bit of skill | | | | especially those who lack the courage to pursue their |
| knowledge that will help you achieve your goal. You | | | | own dreams will - usually out of envy and resentment |
| are not likely to be able to pay to have someone else | | | | - gossip about anyone they see doing so with |
| do things for you every time, especially when starting | | | | single-minded commitment. As an entrepreneur, you will |
| up. Even when you're not starting up, it would be | | | | have to get used to being talked about by such |
| financially imprudent to incur recurrent expenses on | | | | persons(s), and focus on your ultimate purpose.Most |
| tasks you could easily learn to do yourself, via | | | | entrepreneurs who succeeded in the past had to |
| self-tutoring for instance. Read my article titled "How | | | | endure similar undue attention, and survived by simply |
| To Be A Jack Of Many Trades (TM) , And Why It | | | | refusing to be bothered. An inability to deal with this |
| Can Make You Succeed More Often?"9. Understand | | | | problem can cause you to become discouraged, |
| That Having Inadequate Capital Can Teach YOU : The | | | | especially during times when you experiences failures, |
| discipline you learn(due to lack of adequate capital) in | | | | to the point that you give up and quit. You simply |
| using little money to get many things done, will | | | | cannot let ANYONE do that to you! Remember that |
| ultimately help you record impressive successes using | | | | an entrepreneur CANNOT fail except s/he decides to |
| a little MORE money in a way that will increase your | | | | quit."Do what you feel in your heart to be right, for you |
| business' profitability.Cyrus Hall McCormick explained | | | | will be criticised anyway. You will be damned if you do, |
| that a person who starts small due to lack of | | | | and damned if you don't" - Eleanor Roosevelt"Either do |
| adequate capital, will be forced to learn the rudiments | | | | wrong or feel guilty, but don't do both; it's too much |
| of his/her business so as to be able to ensure survival | | | | work." |
| on a low budget.Harvey Firestone expressed similar | | | | - Rudolf Dreikurs (1897 - 1972) |
| sentiments, adding that without THAT experience, he | | | | PsychiatristSummaryThis list is not exhaustive. It is just |
| would never have learnt to study closely how to | | | | a collection of philosophies I have personally found |
| promote efficient operations in his organisation in the | | | | very useful over the years as an entrepreneur. You |
| way he did, to the extent that his company became | | | | may find you do not agree with some of them. That |
| as big as it eventually did.James Cook, author of the | | | | would be okay :-). Take what you need, and leave the |
| bestseller, "The Startup Entrepreneur" and a | | | | rest for others to consider. Add some that you |
| successful entrepreneur in his own right, admonishes | | | | discover along the way to what you take from here. |
| that lack of capital forces the entrepreneur to toughen | | | | Then use YOUR resultant personalised guiding |
| up mentally, and learn how to survive on little, while at | | | | philosophy to keep yourself going till you achieve your |
| the same time discovering alternative sources of | | | | purpose.Goodluck!Related Articles:1. When I Quit My |
| capital.Dan Kennedy, in his book "Succeeding In | | | | Job, They Called Me Mad - And I Felt So, So Sorry for |
| Business By Breaking All The Rules" was quite | | | | Them! |
| categorical in saying that having enough capital to | | | | 2. Should You Quit Your Job or Start Your Business |
| work with can result in negative consequences similar | | | | Part-time? |
| to those that would arise from being cursed. This is | | | | 3. Why I Do What I Do The Way I Do It |
| because it can deny an entrepreneur of crucial learning | | | | 4. Avoid Taking Lessons On Entrepreneuring From |
| obtainable from struggling to survive frequent | | | | The Wrong Person(s)This article is one of |
| shortages of cash: Learning, that when applied, would | | | | twenty-five(25) contained in Tayo Solagbade's Ebook |
| increase one's chances of success.Bottom line is this: | | | | titled "25 Articles/True Stories On Self-Development, |
| Inadequate capital CANNOT kill your business or you, | | | | Entrepeneuring & Web Marketing To Help You |
| except you let it. It will often turn out to be more of a | | | | Succeed More Often".Self-Development/Performance |
| blessing in disguise.Read my article titled "If You Lack | | | | Enhancement Specialist - Tayo Solagbade - works as |
| Capital, Intelligent Multipreneuring Can Increase Your | | | | a Multipreneur, helping individuals/businesses develop |
| Chances Of Succeeding."10. When There's Nothing To | | | | and implement strategies to achieve their goals, faster |
| Do, Work! (TM) : Sound contradictory? Well, it's not. | | | | and more profitably. Download your copy of his 25 |
| The truth is that there will be downtimes during your | | | | Articles Ebook from You get full reprint rights for each |
| entrepreneurial adventure. Those will be times when | | | | article.Visit Tayo's Creative Business Solutions(CB |
| you make no sales, have no clients or customers | | | | Solutions) mini-site - - to learn how you can get |
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